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 | |
|---|---|---|---|---|---|---|
|
CTNM
1601
Contineum Therapeutics
CTNM
$649M
| $1.18M | ﹤0.01% |
169,729
| – | – |
|
1602
Nordic American Tanker
NAT
$1.43B
| $1.18M | ﹤0.01% |
480,769
| – | – |
|
1603
Camping World
CWH
$410M
| $1.18M | ﹤0.01% |
73,065
-441,515
| -86% | -$9.02M |
|
1604
Xencor
XNCR
$2.15B
| $1.16M | ﹤0.01% |
108,874
-38,949
| -26% | -$644K |
|
1605
Dyne Therapeutics
DYN
$4.87B
| $1.15M | ﹤0.01% |
109,922
-840,182
| -88% | -$12M |
|
1606
Enact Holdings
ACT
$6.74B
| $1.15M | ﹤0.01% |
33,000
-36,600
| -53% | -$1.22M |
|
1607
Weave Communications
WEAV
$584M
| $1.14M | ﹤0.01% |
103,200
-224,600
| -69% | -$3.22M |
|
1608
CVRx
CVRX
$81M
| $1.14M | ﹤0.01% |
93,300
-18,100
| -16% | -$256K |
|
1609
Boston Beer
SAM
$1.88B
| $1.14M | ﹤0.01% |
4,771
-97,707
| -95% | -$23.8M |
|
1610
BlueLinx
BXC
$627M
| $1.12M | ﹤0.01% |
15,000
| – | – |
|
1611
Sally Beauty Holdings
SBH
$1.54B
| $1.12M | ﹤0.01% |
124,543
+626
| +0.5% | +$6.17K |
|
1612
Viasat
VSAT
$10B
| $1.11M | ﹤0.01% |
106,577
+89,917
| +540% | +$866K |
|
1613
Trinity Industries
TRN
$2.35B
| $1.09M | ﹤0.01% |
38,754
-30,784
| -44% | -$1.03M |
|
|
MRC
1614
DELISTED
MRC Global
MRC
| $1.08M | ﹤0.01% |
94,000
-262,400
| -74% | -$3.39M |
|
1615
Fiverr
FVRR
$338M
| $1.08M | ﹤0.01% |
45,422
-54,000
| -54% | -$1.57M |
|
|
WBTN
1616
WEBTOON Entertainment Inc
WBTN
$1.35B
| $1.07M | ﹤0.01% |
140,000
-733,473
| -84% | -$8.01M |
|
|
NXRT
1617
NexPoint Residential Trust
NXRT
$600M
| $1.07M | ﹤0.01% |
27,000
| – | – |
|
1618
Encore Capital Group
ECPG
$2.16B
| $1.06M | ﹤0.01% |
30,916
-39,447
| -56% | -$1.72M |
|
1619
Edgewise Therapeutics
EWTX
$4.8B
| $1.05M | ﹤0.01% |
47,755
| – | – |
|
1620
Pulmonx
LUNG
$104M
| $1.02M | ﹤0.01% |
151,200
| – | – |
|
|
PGRE
1621
DELISTED
Paramount Group
PGRE
| $1.02M | ﹤0.01% |
236,580
-310,135
| -57% | -$1.4M |
|
1622
Ooma
OOMA
$633M
| $994K | ﹤0.01% |
75,900
| – | – |
|
|
PPBI
1623
DELISTED
Pacific Premier Bancorp
PPBI
| $988K | ﹤0.01% |
46,325
| – | – |
|
1624
SiriusPoint
SPNT
$2.8B
| $973K | ﹤0.01% |
56,273
| – | – |
|
1625
Deluxe
DLX
$1.08B
| $965K | ﹤0.01% |
61,052
-81,044
| -57% | -$1.54M |
|
Similar funds
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.