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 | |
|---|---|---|---|---|---|---|
|
1
NVIDIA
NVDA
$5.52T
| $65.2B | 6.5% |
+325,951,734
| New | +$67B |
|
|
2
Apple
AAPL
$4.79T
| $55.2B | 5.5% |
+190,726,866
| New | +$54.6B |
|
|
3
Microsoft
MSFT
$3.79T
| $38.3B | 3.82% |
+102,732,956
| New | +$41.6B |
|
|
4
Amazon
AMZN
$2.79T
| $33.5B | 3.34% |
+140,565,601
| New | +$35.3B |
|
|
5
Alphabet (Google) Class A
GOOGL
$4.19T
| $28.9B | 2.88% |
+80,931,418
| New | +$29.1B |
|
|
6
Alphabet (Google) Class C
GOOG
$4.15T
| $26.4B | 2.63% |
+74,788,768
| New | +$26.7B |
|
7
Broadcom
AVGO
$1.7T
| $24.9B | 2.48% |
+65,970,988
| New | +$26.5B |
|
8
Meta Platforms (Facebook)
META
$1.56T
| $18.4B | 1.84% |
+32,726,903
| New | +$20B |
|
9
Micron Technology
MU
$1.08T
| $17.5B | 1.75% |
+15,180,843
| New | +$11.4B |
|
10
Tesla
TSLA
$1.49T
| $16.3B | 1.63% |
+38,812,422
| New | +$15.4B |
|
11
Eli Lilly
LLY
$1.03T
| $13.8B | 1.37% |
+11,471,413
| New | +$11.7B |
|
12
Advanced Micro Devices
AMD
$745B
| $13.6B | 1.35% |
+23,361,170
| New | +$9.58B |
|
13
JPMorgan Chase
JPM
$962B
| $11.8B | 1.18% |
+36,122,327
| New | +$11.2B |
|
14
Intel
INTC
$485B
| $8.62B | 0.86% |
+61,714,672
| New | +$6.24B |
|
15
ExxonMobil
XOM
$667B
| $8.34B | 0.83% |
+60,999,693
| New | +$9.13B |
|
16
Applied Materials
AMAT
$346B
| $8.17B | 0.81% |
+11,305,788
| New | +$5.22B |
|
17
Johnson & Johnson
JNJ
$671B
| $8.08B | 0.81% |
+31,825,084
| New | +$7.42B |
|
18
Lam Research
LRCX
$366B
| $7.85B | 0.78% |
+18,123,399
| New | +$5.5B |
|
19
Berkshire Hathaway Class A
BRK.A
$1.09T
| $7.77B | 0.77% |
+10,371
| New | +$7.48B |
|
20
Walmart Inc
WMT
$860B
| $6.5B | 0.65% |
+57,423,929
| New | +$7.13B |
|
21
Cisco
CSCO
$428B
| $6.44B | 0.64% |
+54,835,694
| New | +$5.73B |
|
22
AbbVie
ABBV
$460B
| $6.43B | 0.64% |
+25,554,538
| New | +$5.5B |
|
23
AstraZeneca
AZN
$256B
| $6.33B | 0.63% |
+33,864,172
| New | +$6.37B |
|
24
Costco
COST
$410B
| $6.06B | 0.6% |
+6,474,767
| New | +$6.45B |
|
25
Mastercard
MA
$513B
| $6.04B | 0.6% |
+11,753,770
| New | +$5.86B |
|
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.