Norges Bank Portfolio holdings
Norges Bank, established in 1816 and headquartered in Oslo, Norway, serves as the central bank of Norway, responsible for monetary policy, issuing the Norwegian krone, and maintaining financial stability. Beyond its traditional central banking role, it oversees the management of the Government Pension Fund Global (often called the Norwegian Oil Fund), one of the world’s largest sovereign wealth funds, valued at over $1 trillion, which invests Norway’s oil and gas revenues in global equities, bonds, and real estate. The fund’s investment arm, Norges Bank Investment Management (NBIM), operates independently to ensure long-term wealth preservation for future generations, emphasizing sustainable and ethical investing practices. With its dual role, Norges Bank uniquely blends central banking duties with stewardship of a massive global investment portfolio.
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
Alphabet (Google) Class A
GOOGL
|
+$1.31B |
| 2 |
Visa
V
|
+$778M |
| 3 |
SCHW
Charles Schwab
SCHW
|
+$528M |
| 4 |
Fortinet
FTNT
|
+$418M |
| 5 |
Prologis
PLD
|
+$340M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Microsoft
MSFT
|
+$2.06B |
| 2 |
Alphabet (Google) Class C
GOOG
|
+$1.83B |
| 3 |
NVIDIA
NVDA
|
+$1.56B |
| 4 |
Meta Platforms (Facebook)
META
|
+$1.47B |
| 5 |
UBS Group
UBS
|
+$1.44B |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Technology | 28.04% |
| 2 | Financials | 15.62% |
| 3 | Healthcare | 11.22% |
| 4 | Consumer Discretionary | 10.85% |
| 5 | Communication Services | 9.31% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
1426
Alignment Healthcare
ALHC
$2.81B
| $3.46M | ﹤0.01% |
185,839
-115,118
| -38% | -$1.72M |
|
1427
Towne Bank
TOWN
$3.45B
| $3.45M | ﹤0.01% |
100,976
-86,498
| -46% | -$3.05M |
|
1428
Kohl's
KSS
$2.06B
| $3.45M | ﹤0.01% |
421,261
-161,731
| -28% | -$1.88M |
|
|
ZK
1429
DELISTED
Zeekr
ZK
| $3.41M | ﹤0.01% |
+141,649
| New | +$3.77M |
|
1430
Stock Yards Bancorp
SYBT
$2.48B
| $3.4M | ﹤0.01% |
49,255
-31,198
| -39% | -$2.24M |
|
1431
Pricesmart
PSMT
$5.34B
| $3.4M | ﹤0.01% |
38,695
| – | – |
|
1432
Enlight Renewable Energy
ENLT
$11.3B
| $3.34M | ﹤0.01% |
209,671
| – | – |
|
1433
Red Rock Resorts
RRR
$3.45B
| $3.3M | ﹤0.01% |
75,982
-39,755
| -34% | -$1.88M |
|
1434
Twist Bioscience
TWST
$9.6B
| $3.23M | ﹤0.01% |
82,378
-80,832
| -50% | -$3.64M |
|
1435
TTM Technologies
TTMI
$13.1B
| $3.23M | ﹤0.01% |
157,390
-190,499
| -55% | -$4.6M |
|
1436
Rush Street Interactive
RSI
$3.03B
| $3.22M | ﹤0.01% |
300,000
-460,100
| -61% | -$6.05M |
|
|
LTC
1437
LTC Properties
LTC
$2.19B
| $3.2M | ﹤0.01% |
90,132
-54,572
| -38% | -$1.9M |
|
1438
City Holding Co
CHCO
$2.01B
| $3.19M | ﹤0.01% |
27,196
-16,716
| -38% | -$1.97M |
|
1439
Praxis Precision Medicines
PRAX
$10.3B
| $3.19M | ﹤0.01% |
84,200
-34,700
| -29% | -$2.17M |
|
1440
Petco
WOOF
$774M
| $3.18M | ﹤0.01% |
1,043,928
-1,282,538
| -55% | -$4.02M |
|
|
AAT
1441
American Assets Trust
AAT
$1.38B
| $3.18M | ﹤0.01% |
157,741
-71,132
| -31% | -$1.6M |
|
|
CSR
1442
Centerspace
CSR
$883M
| $3.17M | ﹤0.01% |
48,997
-23,076
| -32% | -$1.45M |
|
|
SWI
1443
DELISTED
SolarWinds Corporation Common Stock
SWI
| $3.15M | ﹤0.01% |
170,678
-327,987
| -66% | -$5.5M |
|
1444
Hayward Holdings
HAYW
$3.02B
| $3.14M | ﹤0.01% |
225,829
-201,773
| -47% | -$2.93M |
|
|
LADR
1445
Ladder Capital
LADR
$1.25B
| $3.12M | ﹤0.01% |
273,251
-241,871
| -47% | -$2.76M |
|
1446
AAR Corp
AIR
$5.47B
| $3.11M | ﹤0.01% |
55,482
-47,674
| -46% | -$3.17M |
|
1447
Park Hotels & Resorts
PK
$3.16B
| $3.08M | ﹤0.01% |
288,430
-2,631,756
| -90% | -$33.3M |
|
1448
Century Communities
CCS
$1.94B
| $3.07M | ﹤0.01% |
45,708
-31,485
| -41% | -$2.28M |
|
1449
Skyward Specialty Insurance
SKWD
$2.34B
| $3.02M | ﹤0.01% |
57,100
-67,400
| -54% | -$3.25M |
|
1450
Global Net Lease
GNL
$2.11B
| $3.02M | ﹤0.01% |
375,835
-65,121
| -15% | -$489K |
|
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Norges Bank's Q1 2025 Portfolio in Review
As of Q1 2025, Norges Bank held 1,892 positions worth $712B, down 6.5% from $762B the previous quarter. Its ten largest holdings account for 30% of the portfolio.
Norges Bank's Q1 2025 filing shows 47 new, 694 increased, 865 reduced and 149 closed positions. Its largest new stake was Rocket Lab Corp: 4,017,216 shares worth $71.8M. The largest sale was Microsoft, an estimated $2.06B.
By sector, the portfolio is most concentrated in Technology at 28% of assets, down from 31% a quarter earlier, followed by Financials and Healthcare.
- Norges Bank's largest Q1 2025 buy was Rocket Lab Corp: 4,017,216 shares worth $71.8M.
- Norges Bank added most to Alphabet (Google) Class A in Q1 2025, an estimated $1.31B increase.
- Norges Bank's biggest Q1 2025 reduction was Microsoft, cutting an estimated $2.06B.
- Norges Bank fully exited HashiCorp, Inc. Class A Common Stock in Q1 2025, selling an estimated $161M.
- Norges Bank's ten largest holdings make up 30% of its $712B portfolio in Q1 2025.
- Norges Bank opened 47 new positions and closed 149 in Q1 2025.
- Norges Bank's portfolio value fell 6.5% quarter-over-quarter to $712B.
Based on Norges Bank's 13F filing for Q1 2025, filed 13 May 2025.