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 | |
|---|---|---|---|---|---|---|
1676
Enact Holdings
ACT
$6.61B
| $2.25M | ﹤0.01% |
69,600
-31,600
| -31% | -$1.09M |
|
1677
Worthington Steel
WS
$1.83B
| $2.23M | ﹤0.01% |
+70,200
| New | +$2.74M |
|
1678
Century Aluminum
CENX
$4.43B
| $2.23M | ﹤0.01% |
122,254
+62,933
| +106% | +$1.24M |
|
1679
Rigel Pharmaceuticals
RIGL
$681M
| $2.18M | ﹤0.01% |
+129,506
| New | +$2.48M |
|
1680
IDT Corp
IDT
$1.64B
| $2.17M | ﹤0.01% |
45,700
| – | – |
|
1681
Gray Television
GTN
$415M
| $2.17M | ﹤0.01% |
688,900
| – | – |
|
|
PDCO
1682
DELISTED
Patterson Companies, Inc.
PDCO
| $2.17M | ﹤0.01% |
70,289
-127,545
| -64% | -$2.96M |
|
|
DAWN
1683
DELISTED
Day One Biopharmaceuticals
DAWN
| $2.14M | ﹤0.01% |
169,000
| – | – |
|
1684
Marten Transport
MRTN
$1.21B
| $2.12M | ﹤0.01% |
135,900
| – | – |
|
|
ACLX
1685
DELISTED
Arcellx
ACLX
| $2.09M | ﹤0.01% |
+27,251
| New | +$2.35M |
|
1686
Vera Therapeutics
VERA
$2.3B
| $2.05M | ﹤0.01% |
+48,593
| New | +$2.15M |
|
1687
ADMA Biologics
ADMA
$1.96B
| $2.05M | ﹤0.01% |
+119,344
| New | +$2.25M |
|
|
CCRN
1688
DELISTED
Cross Country Healthcare
CCRN
| $2.03M | ﹤0.01% |
+111,600
| New | +$1.5M |
|
1689
GameStop
GME
$9.75B
| $2.01M | ﹤0.01% |
64,188
+22,984
| +56% | +$590K |
|
|
KLC
1690
KinderCare Learning Companies
KLC
$634M
| $1.96M | ﹤0.01% |
+109,923
| New | +$2.63M |
|
1691
Protolabs
PRLB
$1.79B
| $1.95M | ﹤0.01% |
+49,800
| New | +$1.79M |
|
1692
National Presto Industries
NPK
$870M
| $1.94M | ﹤0.01% |
19,700
| – | – |
|
|
CPRX
1693
DELISTED
Catalyst Pharmaceutical
CPRX
| $1.92M | ﹤0.01% |
91,770
| – | – |
|
1694
Core Laboratories
CLB
$488M
| $1.91M | ﹤0.01% |
110,328
-55,096
| -33% | -$1.06M |
|
1695
Primerica
PRI
$9.98B
| $1.91M | ﹤0.01% |
7,021
-7,166
| -51% | -$2.03M |
|
1696
World Acceptance Corp
WRLD
$838M
| $1.88M | ﹤0.01% |
16,700
-200
| -1% | -$23.3K |
|
1697
Miller Industries
MLR
$573M
| $1.85M | ﹤0.01% |
28,300
| – | – |
|
1698
Republic Bancorp
RBCAA
$1.95B
| $1.8M | ﹤0.01% |
25,802
-6,180
| -19% | -$441K |
|
1699
Summit Therapeutics
SMMT
$10.4B
| $1.78M | ﹤0.01% |
+100,000
| New | +$1.94M |
|
1700
WesBanco
WSBC
$3.97B
| $1.77M | ﹤0.01% |
54,428
+39,107
| +255% | +$1.3M |
|
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.