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 | |
|---|---|---|---|---|---|---|
1876
Leggett & Platt
LEG
$1.37B
| – | – |
-1,166,470
| Closed | -$15.9M |
|
1877
Li Auto
LI
$12.9B
| – | – |
-1,051,746
| Closed | -$27M |
|
1878
LeMaitre Vascular
LMAT
$2.37B
| – | – |
-98,278
| Closed | -$9.13M |
|
|
LPRO
1879
DELISTED
Open Lending Corp
LPRO
| – | – |
-39,503
| Closed | -$242K |
|
1880
Matthews International
MATW
$876M
| – | – |
-41,687
| Closed | -$967K |
|
1881
Pediatrix Medical
MD
$2.16B
| – | – |
-52,641
| Closed | -$610K |
|
1882
Mirum Pharmaceuticals
MIRM
$6.38B
| – | – |
-248,157
| Closed | -$9.68M |
|
1883
MaxLinear
MXL
$6.09B
| – | – |
-15,424
| Closed | -$223K |
|
1884
NIO
NIO
$12.1B
| – | – |
-1,770,372
| Closed | -$11.8M |
|
|
NOAH
1885
Noah Holdings
NOAH
$584M
| – | – |
-23,800
| Closed | -$293K |
|
1886
Enpro
NPO
$7.06B
| – | – |
-83,399
| Closed | -$13.5M |
|
1887
NetEase
NTES
$84.2B
| – | – |
-172,633
| Closed | -$16.1M |
|
1888
Outfront Media
OUT
$5.61B
| – | – |
-630,413
| Closed | -$11.4M |
|
1889
Phinia Inc
PHIN
$2.86B
| – | – |
-664,242
| Closed | -$30.6M |
|
|
PINC
1890
DELISTED
Premier
PINC
| – | – |
-147,005
| Closed | -$2.94M |
|
|
PLYM
1891
DELISTED
Plymouth Industrial REIT
PLYM
| – | – |
-18,600
| Closed | -$420K |
|
1892
Rocket Pharmaceuticals
RCKT
$372M
| – | – |
-159,094
| Closed | -$2.94M |
|
1893
Replimune Group
REPL
$1B
| – | – |
-379,400
| Closed | -$4.16M |
|
1894
RLX Technology
RLX
$2.43B
| – | – |
-3,428,035
| Closed | -$6.2M |
|
1895
Rapid7
RPD
$680M
| – | – |
-55,000
| Closed | -$2.19M |
|
|
RWT
1896
Redwood Trust
RWT
$580M
| – | – |
-135,533
| Closed | -$1.05M |
|
1897
Sana Biotechnology
SANA
$885M
| – | – |
-189,979
| Closed | -$790K |
|
|
FLNA
1898
Filana Therapeutics
FLNA
$49.8M
| – | – |
-11,747
| Closed | -$346K |
|
1899
SolarEdge
SEDG
$2.74B
| – | – |
-596,475
| Closed | -$13.7M |
|
1900
SFL Corp
SFL
$1.65B
| – | – |
-45,774
| Closed | -$530K |
|
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.