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 | |
|---|---|---|---|---|---|---|
|
PGRE
1651
DELISTED
Paramount Group
PGRE
| $2.7M | ﹤0.01% |
546,715
-189,163
| -26% | -$935K |
|
1652
Vicor
VICR
$9.85B
| $2.66M | ﹤0.01% |
55,106
-171,556
| -76% | -$8.57M |
|
1653
Gentherm
THRM
$1.28B
| $2.63M | ﹤0.01% |
65,883
-47,703
| -42% | -$2M |
|
|
ARR
1654
Armour Residential REIT
ARR
$2.3B
| $2.62M | ﹤0.01% |
138,849
+64,729
| +87% | +$1.24M |
|
|
ODP
1655
DELISTED
ODP
ODP
| $2.59M | ﹤0.01% |
113,870
-177,127
| -61% | -$4.93M |
|
1656
Par Pacific Holdings
PARR
$4.11B
| $2.57M | ﹤0.01% |
157,000
| – | – |
|
1657
Northwest Bancshares
NWBI
$2.34B
| $2.57M | ﹤0.01% |
194,828
-8,192
| -4% | -$114K |
|
|
SAFE
1658
Safehold
SAFE
$1.15B
| $2.55M | ﹤0.01% |
138,110
-60,047
| -30% | -$1.31M |
|
1659
Tactile Systems Technology
TCMD
$666M
| $2.53M | ﹤0.01% |
147,900
| – | – |
|
1660
Taysha Gene Therapies
TSHA
$1.66B
| $2.53M | ﹤0.01% |
+1,461,120
| New | +$3.03M |
|
|
SNCY
1661
DELISTED
Sun Country Airlines
SNCY
| $2.51M | ﹤0.01% |
+172,200
| New | +$2.34M |
|
1662
United States Lime & Minerals
USLM
$3.21B
| $2.5M | ﹤0.01% |
18,800
+12,200
| +185% | +$1.55M |
|
|
CTNM
1663
Contineum Therapeutics
CTNM
$611M
| $2.49M | ﹤0.01% |
169,729
+53,476
| +46% | +$847K |
|
1664
Enviri
NVRI
$670M
| $2.47M | ﹤0.01% |
321,267
| – | – |
|
1665
Cracker Barrel
CBRL
$1.29B
| $2.47M | ﹤0.01% |
46,735
-13,848
| -23% | -$685K |
|
|
ACH
1666
Accendra Health
ACH
$263M
| $2.47M | ﹤0.01% |
188,618
-87,766
| -32% | -$1.17M |
|
1667
Trinity Industries
TRN
$2.5B
| $2.44M | ﹤0.01% |
69,538
-87,375
| -56% | -$3.16M |
|
1668
Pacira BioSciences
PCRX
$1.06B
| $2.41M | ﹤0.01% |
127,655
-141,649
| -53% | -$2.49M |
|
|
BFS
1669
Saul Centers
BFS
$842M
| $2.4M | ﹤0.01% |
61,812
-6,099
| -9% | -$244K |
|
1670
Pitney Bowes
PBI
$2.54B
| $2.4M | ﹤0.01% |
331,000
| – | – |
|
1671
AngloGold Ashanti
AU
$41.8B
| $2.33M | ﹤0.01% |
104,679
| – | – |
|
|
CAN
1672
Canaan Creative
CAN
$136M
| $2.32M | ﹤0.01% |
+1,130,517
| New | +$1.91M |
|
1673
CVR Energy
CVI
$3.25B
| $2.31M | ﹤0.01% |
123,294
| – | – |
|
1674
Oxford Industries
OXM
$578M
| $2.27M | ﹤0.01% |
28,831
-21,774
| -43% | -$1.71M |
|
1675
Telkom Indonesia
TLK
$15.1B
| $2.27M | ﹤0.01% |
138,000
-8,240
| -6% | -$144K |
|
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.