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 | |
|---|---|---|---|---|---|---|
1601
World Kinect Corp
WKC
$2B
| $3.31M | ﹤0.01% |
120,501
-115,231
| -49% | -$3.3M |
|
1602
Kaiser Aluminum
KALU
$2.68B
| $3.31M | ﹤0.01% |
47,132
-14,047
| -23% | -$1.07M |
|
1603
Newmark Group
NMRK
$2.72B
| $3.31M | ﹤0.01% |
258,139
+100,843
| +64% | +$1.49M |
|
|
LKFT
1604
Lakefront Biotherapeutics American Depositary Shares
LKFT
$1.75B
| $3.3M | ﹤0.01% |
120,000
| – | – |
|
1605
Adeia
ADEA
$3.07B
| $3.29M | ﹤0.01% |
235,183
-206,033
| -47% | -$2.61M |
|
1606
SiTime
SITM
$16.5B
| $3.28M | ﹤0.01% |
15,293
+4,142
| +37% | +$843K |
|
|
SCS
1607
DELISTED
Steelcase
SCS
| $3.28M | ﹤0.01% |
277,419
-52,185
| -16% | -$671K |
|
|
HI
1608
DELISTED
Hillenbrand
HI
| $3.26M | ﹤0.01% |
105,995
-28,465
| -21% | -$860K |
|
1609
Global Net Lease
GNL
$1.83B
| $3.22M | ﹤0.01% |
440,956
+294,055
| +200% | +$2.26M |
|
1610
Deluxe
DLX
$1.23B
| $3.21M | ﹤0.01% |
142,096
-10,589
| -7% | -$227K |
|
1611
Banco Bilbao Vizcaya Argentaria
BBVA
$157B
| $3.21M | ﹤0.01% |
330,000
| – | – |
|
1612
John Wiley & Sons Class A
WLY
$2.7B
| $3.2M | ﹤0.01% |
73,236
-20,510
| -22% | -$1.01M |
|
|
SFIX
1613
Stitch Fix
SFIX
$552M
| $3.18M | ﹤0.01% |
738,601
+687,600
| +1,348% | +$2.53M |
|
1614
MediaAlpha
MAX
$781M
| $3.18M | ﹤0.01% |
+281,900
| New | +$4.06M |
|
1615
Myers Industries
MYE
$1.38B
| $3.18M | ﹤0.01% |
+288,038
| New | +$3.47M |
|
1616
Fiverr
FVRR
$340M
| $3.15M | ﹤0.01% |
99,422
-10,584
| -10% | -$307K |
|
1617
Liberty Latin America Class C
LILAK
$1.67B
| $3.13M | ﹤0.01% |
543,752
-290,618
| -35% | -$2.11M |
|
1618
Monte Rosa Therapeutics
GLUE
$1.3B
| $3.09M | ﹤0.01% |
+445,868
| New | +$3.35M |
|
1619
Liberty Global Class C
LBTYK
$3.63B
| $3.09M | ﹤0.01% |
235,385
-140,242
| -37% | -$2.42M |
|
1620
Paymentus
PAY
$4.34B
| $3.09M | ﹤0.01% |
+94,600
| New | +$2.81M |
|
1621
Iovance Biotherapeutics
IOVA
$1.93B
| $3.08M | ﹤0.01% |
416,237
-350,808
| -46% | -$3.25M |
|
1622
G-III Apparel Group
GIII
$1.54B
| $3.08M | ﹤0.01% |
94,383
-10,308
| -10% | -$324K |
|
1623
Ezcorp Inc
EZPW
$1.86B
| $3.07M | ﹤0.01% |
+251,000
| New | +$2.98M |
|
1624
Blend Labs
BLND
$467M
| $3.06M | ﹤0.01% |
+726,400
| New | +$3.13M |
|
|
NTST
1625
NETSTREIT Corp
NTST
$2.08B
| $3.04M | ﹤0.01% |
214,900
+184,900
| +616% | +$2.88M |
|
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.