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
|
+$67B |
| 2 |
Apple
AAPL
|
+$54.6B |
| 3 |
Microsoft
MSFT
|
+$41.6B |
| 4 |
Amazon
AMZN
|
+$35.3B |
| 5 |
Alphabet (Google) Class A
GOOGL
|
+$29.1B |
Top Sells
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Technology | 35.64% |
| 2 | Financials | 13.2% |
| 3 | Consumer Discretionary | 9.65% |
| 4 | Communication Services | 9.61% |
| 5 | Healthcare | 9.57% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | Held Since | |
|---|---|---|---|---|---|---|---|
|
1
NVIDIA
NVDA
$5.3T
| $65.2B | 6.5% |
+325,951,734
| New | +$67B |
2013 Q2
52 quarters
|
|
|
2
Apple
AAPL
$4.99T
| $55.2B | 5.5% |
+190,726,866
| New | +$54.6B |
2013 Q2
52 quarters
|
|
|
3
Microsoft
MSFT
$3.97T
| $38.3B | 3.82% |
+102,732,956
| New | +$41.6B |
2013 Q2
52 quarters
|
|
|
4
Amazon
AMZN
$2.84T
| $33.5B | 3.34% |
+140,565,601
| New | +$35.3B |
2013 Q2
52 quarters
|
|
|
5
Alphabet (Google) Class A
GOOGL
$4.22T
| $28.9B | 2.88% |
+80,931,418
| New | +$29.1B |
2015 Q4
42 quarters
|
|
6
Alphabet (Google) Class C
GOOG
$4.17T
| $26.4B | 2.63% |
+74,788,768
| New | +$26.7B |
2013 Q2
52 quarters
|
|
7
Broadcom
AVGO
$1.62T
| $24.9B | 2.48% |
+65,970,988
| New | +$26.5B |
2013 Q2
52 quarters
|
|
8
Meta Platforms (Facebook)
META
$1.79T
| $18.4B | 1.84% |
+32,726,903
| New | +$20B |
2013 Q2
52 quarters
|
|
9
Micron Technology
MU
$1.04T
| $17.5B | 1.75% |
+15,180,843
| New | +$11.4B |
2013 Q2
52 quarters
|
|
10
Tesla
TSLA
$1.45T
| $16.3B | 1.63% |
+38,812,422
| New | +$15.4B |
2013 Q2
52 quarters
|
|
11
Eli Lilly
LLY
$1.11T
| $13.8B | 1.37% |
+11,471,413
| New | +$11.7B |
2013 Q2
52 quarters
|
|
12
Advanced Micro Devices
AMD
$895B
| $13.6B | 1.35% |
+23,361,170
| New | +$9.6B |
2016 Q1
41 quarters
|
|
13
JPMorgan Chase
JPM
$891B
| $11.8B | 1.18% |
+36,122,327
| New | +$11.2B |
2013 Q2
52 quarters
|
|
14
Intel
INTC
$500B
| $8.62B | 0.86% |
+61,714,672
| New | +$6.24B |
2013 Q2
52 quarters
|
|
15
ExxonMobil
XOM
$730B
| $8.34B | 0.83% |
+60,999,693
| New | +$9.13B |
2013 Q2
52 quarters
|
|
16
Applied Materials
AMAT
$337B
| $8.17B | 0.81% |
+11,305,788
| New | +$5.22B |
2013 Q2
52 quarters
|
|
17
Johnson & Johnson
JNJ
$609B
| $8.08B | 0.81% |
+31,825,084
| New | +$7.42B |
2013 Q2
52 quarters
|
|
18
Lam Research
LRCX
$349B
| $7.85B | 0.78% |
+18,123,399
| New | +$5.5B |
2013 Q2
52 quarters
|
|
19
Berkshire Hathaway Class A
BRK.A
$1.13T
| $7.77B | 0.77% |
+10,371
| New | +$7.48B |
2013 Q2
52 quarters
|
|
20
Walmart Inc
WMT
$939B
| $6.5B | 0.65% |
+57,423,929
| New | +$7.13B |
2019 Q4
26 quarters
|
|
21
Cisco
CSCO
$423B
| $6.44B | 0.64% |
+54,835,694
| New | +$5.73B |
2013 Q2
52 quarters
|
|
22
AbbVie
ABBV
$500B
| $6.43B | 0.64% |
+25,554,538
| New | +$5.5B |
2013 Q2
52 quarters
|
|
23
AstraZeneca
AZN
$256B
| $6.33B | 0.63% |
+33,864,172
| New | +$6.37B |
2019 Q4
26 quarters
|
|
24
Costco
COST
$439B
| $6.06B | 0.6% |
+6,474,767
| New | +$6.45B |
2013 Q2
52 quarters
|
|
25
Mastercard
MA
$537B
| $6.04B | 0.6% |
+11,753,770
| New | +$5.86B |
2013 Q2
52 quarters
|
|
Similar funds
Norges Bank's Q2 2026 Portfolio in Review
As of Q2 2026, Norges Bank held 1,617 positions worth $1T. Its ten largest holdings account for 32% of the portfolio.
Norges Bank deployed $972B of net new capital in Q2 2026, opening 1,617 new positions. Its largest new stake was NVIDIA: 325,951,734 shares worth $65.2B.
By sector, the portfolio is most concentrated in Technology at 36% of assets, followed by Financials and Consumer Discretionary.
- Norges Bank's largest Q2 2026 buy was NVIDIA: 325,951,734 shares worth $65.2B.
- Norges Bank's ten largest holdings make up 32% of its $1T portfolio in Q2 2026.
- Norges Bank opened 1,617 new positions and closed 0 in Q2 2026.
Based on Norges Bank's 13F filing for Q2 2026, filed 12 Aug 2026.