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 |
NVIDIA
NVDA
|
+$4.27B |
| 2 |
Alphabet (Google) Class A
GOOGL
|
+$2.85B |
| 3 |
Microsoft
MSFT
|
+$2.65B |
| 4 |
Meta Platforms (Facebook)
META
|
+$2.37B |
| 5 |
Broadcom
AVGO
|
+$1.63B |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
T-Mobile US
TMUS
|
+$570M |
| 2 |
Bank of America
BAC
|
+$486M |
| 3 |
Berkshire Hathaway Class B
BRK.B
|
+$438M |
| 4 |
Alibaba
BABA
|
+$361M |
| 5 |
IBM
IBM
|
+$336M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Technology | 31.05% |
| 2 | Financials | 14.2% |
| 3 | Consumer Discretionary | 11.56% |
| 4 | Healthcare | 10.01% |
| 5 | Communication Services | 9.71% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
|
ETWO
1451
DELISTED
E2open Parent Holdings
ETWO
| $6.15M | ﹤0.01% |
2,312,417
-188,530
| -8% | -$592K |
|
1452
Cal-Maine
CALM
$3.98B
| $6.13M | ﹤0.01% |
59,580
-68,700
| -54% | -$6.48M |
|
1453
IonQ
IONQ
$15.6B
| $6.1M | ﹤0.01% |
145,977
+40,000
| +38% | +$1M |
|
1454
PROG Holdings
PRG
$1.83B
| $6.09M | ﹤0.01% |
144,180
-13,058
| -8% | -$603K |
|
1455
Banner Corp
BANR
$2.44B
| $6.07M | ﹤0.01% |
90,980
-40,787
| -31% | -$2.79M |
|
1456
Grindr
GRND
$3.19B
| $6.04M | ﹤0.01% |
338,290
+314,090
| +1,298% | +$4.58M |
|
|
AAT
1457
American Assets Trust
AAT
$1.42B
| $6.01M | ﹤0.01% |
228,873
-44,390
| -16% | -$1.21M |
|
1458
Nurix Therapeutics
NRIX
$2.56B
| $6.01M | ﹤0.01% |
318,800
| – | – |
|
1459
Sabre
SABR
$838M
| $5.96M | ﹤0.01% |
1,631,626
+197,262
| +14% | +$723K |
|
1460
Upwork
UPWK
$1.2B
| $5.95M | ﹤0.01% |
364,002
| – | – |
|
1461
Diamondrock Hospitality Co
DRH
$2.72B
| $5.84M | ﹤0.01% |
646,618
-148,736
| -19% | -$1.36M |
|
1462
ArcBest
ARCB
$3.23B
| $5.83M | ﹤0.01% |
62,428
-25,030
| -29% | -$2.65M |
|
1463
La-Z-Boy
LZB
$1.67B
| $5.79M | ﹤0.01% |
132,798
+40,377
| +44% | +$1.71M |
|
1464
LegalZoom.com
LZ
$1.44B
| $5.77M | ﹤0.01% |
768,219
+614,700
| +400% | +$4.63M |
|
|
LADR
1465
Ladder Capital
LADR
$1.22B
| $5.76M | ﹤0.01% |
515,122
-23,301
| -4% | -$268K |
|
1466
Stock Yards Bancorp
SYBT
$2.65B
| $5.76M | ﹤0.01% |
80,453
-17,403
| -18% | -$1.23M |
|
1467
Independence Realty Trust
IRT
$4.02B
| $5.71M | ﹤0.01% |
287,831
-1,390,847
| -83% | -$28.4M |
|
1468
Trustmark
TRMK
$2.82B
| $5.7M | ﹤0.01% |
161,277
-83,726
| -34% | -$3.02M |
|
1469
PACS Group
PACS
$7.09B
| $5.7M | ﹤0.01% |
435,096
+419,400
| +2,672% | +$10.8M |
|
1470
Bank of N.T. Butterfield & Son
NTB
$2.46B
| $5.7M | ﹤0.01% |
155,958
-26,008
| -14% | -$973K |
|
1471
Apogee Enterprises
APOG
$888M
| $5.7M | ﹤0.01% |
79,793
-9,355
| -10% | -$734K |
|
|
AIV
1472
Aimco
AIV
$384M
| $5.69M | ﹤0.01% |
626,052
| – | – |
|
|
AMWD
1473
DELISTED
American Woodmark
AMWD
| $5.68M | ﹤0.01% |
71,360
+10,724
| +18% | +$981K |
|
1474
Century Communities
CCS
$2B
| $5.66M | ﹤0.01% |
77,193
-30,271
| -28% | -$2.7M |
|
1475
Mercury Insurance
MCY
$5.9B
| $5.65M | ﹤0.01% |
+85,001
| New | +$5.98M |
|
Similar funds
Norges Bank's Q4 2024 Portfolio in Review
As of Q4 2024, Norges Bank held 1,937 positions worth $762B, up 6.4% from $716B the previous quarter. Its ten largest holdings account for 33% of the portfolio.
Norges Bank deployed $33.5B of net new capital in Q4 2024, opening 98 new positions and adding to 915 existing holdings. Its largest new stake was StandardAero Inc: 5,025,103 shares worth $124M.
By sector, the portfolio is most concentrated in Technology at 31% of assets, up from 29% a quarter earlier, followed by Financials and Consumer Discretionary.
On the sell side, the largest reduction was T-Mobile US, an estimated $570M trimmed.
- Norges Bank's largest Q4 2024 buy was StandardAero Inc: 5,025,103 shares worth $124M.
- Norges Bank added most to NVIDIA in Q4 2024, an estimated $4.27B increase.
- Norges Bank's biggest Q4 2024 reduction was T-Mobile US, cutting an estimated $570M.
- Norges Bank fully exited CATALENT, INC. in Q4 2024, selling an estimated $290M.
- Norges Bank's ten largest holdings make up 33% of its $762B portfolio in Q4 2024.
- Norges Bank opened 98 new positions and closed 92 in Q4 2024.
- Norges Bank's portfolio value rose 6.4% quarter-over-quarter to $762B.
Based on Norges Bank's 13F filing for Q4 2024, filed 12 Feb 2025.