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 | |
|---|---|---|---|---|---|---|
|
SRDX
1626
DELISTED
Surmodics
SRDX
| $965K | ﹤0.01% |
31,600
| – | – |
|
1627
Community Health Systems
CYH
$413M
| $956K | ﹤0.01% |
354,100
| – | – |
|
1628
10x Genomics
TXG
$8.45B
| $948K | ﹤0.01% |
108,560
+16,981
| +19% | +$214K |
|
1629
Xerox
XRX
$390M
| $935K | ﹤0.01% |
193,638
| – | – |
|
|
BFS
1630
Saul Centers
BFS
$827M
| $923K | ﹤0.01% |
25,600
-36,212
| -59% | -$1.33M |
|
1631
Winnebago Industries
WGO
$859M
| $912K | ﹤0.01% |
26,464
-34,026
| -56% | -$1.44M |
|
1632
Cimpress
CMPR
$2.17B
| $911K | ﹤0.01% |
20,133
-29,278
| -59% | -$1.65M |
|
1633
Ibotta
IBTA
$734M
| $901K | ﹤0.01% |
21,343
+5,827
| +38% | +$341K |
|
1634
Schrodinger
SDGR
$1.53B
| $888K | ﹤0.01% |
44,993
-35,149
| -44% | -$791K |
|
1635
Amdocs
DOX
$6.55B
| $885K | ﹤0.01% |
9,675
| – | – |
|
1636
Ardagh Metal Packaging
AMBP
$3.09B
| $883K | ﹤0.01% |
292,456
| – | – |
|
1637
Kodiak Gas Services
KGS
$6.08B
| $875K | ﹤0.01% |
23,447
+4,684
| +25% | +$200K |
|
1638
Astera Labs
ALAB
$52.8B
| $869K | ﹤0.01% |
14,567
-1,338,612
| -99% | -$124M |
|
1639
ODDITY Tech
ODD
$691M
| $868K | ﹤0.01% |
20,067
-205,307
| -91% | -$9.12M |
|
1640
Iovance Biotherapeutics
IOVA
$3.74B
| $866K | ﹤0.01% |
260,148
-156,089
| -38% | -$805K |
|
1641
Kinetik
KNTK
$4.37B
| $854K | ﹤0.01% |
+16,438
| New | +$964K |
|
1642
National Presto Industries
NPK
$1.09B
| $844K | ﹤0.01% |
9,600
-10,100
| -51% | -$962K |
|
1643
First Advantage
FA
$3.59B
| $837K | ﹤0.01% |
59,415
-96,591
| -62% | -$1.62M |
|
1644
Innoviva
INVA
$1.51B
| $834K | ﹤0.01% |
46,013
-39,269
| -46% | -$704K |
|
1645
Oxford Industries
OXM
$570M
| $834K | ﹤0.01% |
14,216
-14,615
| -51% | -$1.05M |
|
1646
Opko Health
OPK
$1.12B
| $820K | ﹤0.01% |
494,257
-633,211
| -56% | -$1.04M |
|
|
BOW
1647
Bowhead Specialty Holdings
BOW
$1.11B
| $813K | ﹤0.01% |
20,000
-115,936
| -85% | -$3.95M |
|
1648
Wave Life Sciences
WVE
$1.02B
| $808K | ﹤0.01% |
100,000
| – | – |
|
1649
Lemonade
LMND
$4.17B
| $806K | ﹤0.01% |
25,656
| – | – |
|
|
ALX
1650
Alexander's
ALX
$1.38B
| $785K | ﹤0.01% |
3,755
-2,740
| -42% | -$555K |
|
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.