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
|
+$62.1B |
| 2 |
Microsoft
MSFT
|
+$52.5B |
| 3 |
Apple
AAPL
|
+$51.6B |
| 4 |
Amazon
AMZN
|
+$32.6B |
| 5 |
Alphabet (Google) Class A
GOOGL
|
+$27.9B |
Top Sells
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Technology | 32.77% |
| 2 | Financials | 14.44% |
| 3 | Consumer Discretionary | 10.8% |
| 4 | Communication Services | 10.47% |
| 5 | Healthcare | 9.79% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
226
Cloudflare
NET
$110B
| $718M | 0.08% |
+3,643,501
| New | +$771M |
|
227
Chipotle Mexican Grill
CMG
$47.1B
| $712M | 0.08% |
+19,238,829
| New | +$696M |
|
228
Spotify
SPOT
$108B
| $711M | 0.08% |
+1,225,155
| New | +$766M |
|
229
American Homes 4 Rent
AMH
$12B
| $711M | 0.08% |
+22,139,313
| New | +$710M |
|
230
Yum! Brands
YUM
$41.1B
| $707M | 0.08% |
+4,672,125
| New | +$692M |
|
|
WCN
231
Waste Connections
WCN
$41.7B
| $698M | 0.07% |
+3,977,490
| New | +$687M |
|
232
Flutter Entertainment
FLUT
$16.5B
| $694M | 0.07% |
+3,227,348
| New | +$726M |
|
233
Monster Beverage
MNST
$91.5B
| $691M | 0.07% |
+18,028,008
| New | +$646M |
|
234
Cognizant
CTSH
$28.7B
| $691M | 0.07% |
+8,324,807
| New | +$623M |
|
235
Boston Properties
BXP
$11.2B
| $689M | 0.07% |
+10,216,641
| New | +$726M |
|
236
Ford
F
$55.6B
| $674M | 0.07% |
+51,405,295
| New | +$663M |
|
237
Microchip Technology
MCHP
$41B
| $665M | 0.07% |
+10,429,442
| New | +$643M |
|
238
Monolithic Power Systems
MPWR
$64.4B
| $659M | 0.07% |
+726,705
| New | +$699M |
|
239
Coinbase
COIN
$50.3B
| $657M | 0.07% |
+2,904,149
| New | +$865M |
|
240
Dominion Energy
D
$58.5B
| $655M | 0.07% |
+11,181,800
| New | +$674M |
|
241
D.R. Horton
DHI
$40.6B
| $649M | 0.07% |
+4,508,122
| New | +$686M |
|
|
FITB
242
Fifth Third Bancorp
FITB
$49.7B
| $649M | 0.07% |
+13,870,195
| New | +$611M |
|
243
Fastenal
FAST
$58.7B
| $646M | 0.07% |
+16,098,838
| New | +$678M |
|
|
EA
244
DELISTED
Electronic Arts
EA
| $644M | 0.07% |
+3,150,170
| New | +$636M |
|
245
CBRE Group
CBRE
$42.6B
| $643M | 0.07% |
+4,001,521
| New | +$629M |
|
246
Phillips 66
PSX
$95.7B
| $640M | 0.07% |
+4,961,297
| New | +$668M |
|
247
MetLife
MET
$61.2B
| $640M | 0.07% |
+8,107,247
| New | +$642M |
|
248
American International
AIG
$40.1B
| $637M | 0.07% |
+7,443,394
| New | +$596M |
|
249
Aptiv
APTV
$9.43B
| $635M | 0.07% |
+8,344,872
| New | +$670M |
|
250
Everest Group
EG
$14.5B
| $630M | 0.07% |
+1,857,307
| New | +$613M |
|
Similar funds
Norges Bank's Q4 2025 Portfolio in Review
As of Q4 2025, Norges Bank held 1,577 positions worth $935B. Its ten largest holdings account for 35% of the portfolio.
Norges Bank deployed $925B of net new capital in Q4 2025, opening 1,577 new positions. Its largest new stake was NVIDIA: 333,748,700 shares worth $62.2B.
By sector, the portfolio is most concentrated in Technology at 33% of assets, followed by Financials and Consumer Discretionary.
- Norges Bank's largest Q4 2025 buy was NVIDIA: 333,748,700 shares worth $62.2B.
- Norges Bank's ten largest holdings make up 35% of its $935B portfolio in Q4 2025.
- Norges Bank opened 1,577 new positions and closed 0 in Q4 2025.
Based on Norges Bank's 13F filing for Q4 2025, filed 10 Feb 2026.