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 | |
|---|---|---|---|---|---|---|
1551
Hope Bancorp
HOPE
$1.81B
| $4M | ﹤0.01% |
325,520
-99,241
| -23% | -$1.29M |
|
1552
BioCryst Pharmaceuticals
BCRX
$2.24B
| $3.95M | ﹤0.01% |
524,804
-87,096
| -14% | -$661K |
|
1553
LivaNova
LIVN
$4.53B
| $3.92M | ﹤0.01% |
84,750
| – | – |
|
|
SASR
1554
DELISTED
Sandy Spring Bancorp Inc
SASR
| $3.92M | ﹤0.01% |
116,314
-46,038
| -28% | -$1.61M |
|
1555
iQIYI
IQ
$1.26B
| $3.91M | ﹤0.01% |
1,947,461
-4,500,471
| -70% | -$10.7M |
|
|
TWO
1556
Two Harbors Investment
TWO
$1.27B
| $3.9M | ﹤0.01% |
329,474
-105,991
| -24% | -$1.28M |
|
|
GEAR
1557
DELISTED
Revelyst, Inc.
GEAR
| $3.89M | ﹤0.01% |
+202,395
| New | +$3.86M |
|
|
JOYY
1558
JOYY Inc
JOYY
$3.73B
| $3.86M | ﹤0.01% |
92,209
-49,671
| -35% | -$1.82M |
|
1559
DNOW Inc
DNOW
$2.6B
| $3.86M | ﹤0.01% |
296,410
-81,286
| -22% | -$1.1M |
|
1560
Helios Technologies
HLIO
$2.65B
| $3.85M | ﹤0.01% |
86,297
-25,312
| -23% | -$1.25M |
|
1561
Barrett Business Services
BBSI
$979M
| $3.85M | ﹤0.01% |
+88,600
| New | +$3.58M |
|
|
JBGS
1562
JBG SMITH
JBGS
$829M
| $3.84M | ﹤0.01% |
249,614
-109,440
| -30% | -$1.83M |
|
|
CIM
1563
Chimera Investment
CIM
$1.06B
| $3.83M | ﹤0.01% |
273,360
-25,790
| -9% | -$387K |
|
|
EH
1564
EHang Holdings
EH
$411M
| $3.81M | ﹤0.01% |
241,910
+38,900
| +19% | +$625K |
|
1565
NerdWallet
NRDS
$599M
| $3.79M | ﹤0.01% |
+284,600
| New | +$3.8M |
|
1566
InvenTrust Properties
IVT
$2.72B
| $3.78M | ﹤0.01% |
125,300
+22,000
| +21% | +$662K |
|
|
BBT
1567
Beacon Financial Corp
BBT
$2.69B
| $3.77M | ﹤0.01% |
132,574
-21,446
| -14% | -$618K |
|
1568
AbCellera Biologics
ABCL
$1.78B
| $3.76M | ﹤0.01% |
1,284,533
+362,319
| +39% | +$1.01M |
|
1569
ICF International
ICFI
$1.52B
| $3.73M | ﹤0.01% |
+31,300
| New | +$4.68M |
|
1570
IMAX
IMAX
$2.8B
| $3.71M | ﹤0.01% |
144,972
| – | – |
|
1571
Kymera Therapeutics
KYMR
$8.25B
| $3.67M | ﹤0.01% |
91,231
| – | – |
|
1572
Monarch Casino & Resort
MCRI
$2.24B
| $3.65M | ﹤0.01% |
+46,300
| New | +$3.73M |
|
1573
HealthStream
HSTM
$828M
| $3.65M | ﹤0.01% |
+114,738
| New | +$3.54M |
|
|
VMEO
1574
DELISTED
Vimeo
VMEO
| $3.64M | ﹤0.01% |
+568,800
| New | +$3.42M |
|
1575
Enlight Renewable Energy
ENLT
$11.6B
| $3.63M | ﹤0.01% |
209,671
+65,994
| +46% | +$1.06M |
|
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.