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 | |
|---|---|---|---|---|---|---|
251
TE Connectivity
TEL
$58.8B
| $687M | 0.07% |
+3,405,824
| New | +$726M |
|
252
Alnylam Pharmaceuticals
ALNY
$31.7B
| $684M | 0.07% |
+2,271,813
| New | +$685M |
|
253
Canadian National Railway
CNI
$76.5B
| $679M | 0.07% |
+5,695,165
| New | +$648M |
|
254
Republic Services
RSG
$67.1B
| $674M | 0.07% |
+3,162,965
| New | +$661M |
|
255
Wheaton Precious Metals
WPM
$71.8B
| $672M | 0.07% |
+5,983,577
| New | +$778M |
|
256
W.W. Grainger
GWW
$62.2B
| $663M | 0.07% |
+487,087
| New | +$600M |
|
|
WCN
257
Waste Connections
WCN
$41.7B
| $659M | 0.07% |
+3,957,385
| New | +$626M |
|
258
Manulife Financial
MFC
$71.6B
| $657M | 0.07% |
+16,213,714
| New | +$627M |
|
259
Automatic Data Processing
ADP
$113B
| $654M | 0.07% |
+2,920,189
| New | +$624M |
|
260
Sun Communities
SUI
$15B
| $652M | 0.07% |
+5,439,467
| New | +$680M |
|
261
Old Dominion Freight Line
ODFL
$41.5B
| $646M | 0.06% |
+2,980,836
| New | +$644M |
|
262
NetApp
NTAP
$37.4B
| $645M | 0.06% |
+4,170,849
| New | +$545M |
|
263
CBRE Group
CBRE
$42.6B
| $645M | 0.06% |
+4,787,848
| New | +$660M |
|
264
NXP Semiconductors
NXPI
$57B
| $642M | 0.06% |
+2,285,448
| New | +$630M |
|
265
Kimberly-Clark
KMB
$36.6B
| $634M | 0.06% |
+5,773,617
| New | +$572M |
|
266
Becton Dickinson
BDX
$51.2B
| $631M | 0.06% |
+4,169,523
| New | +$624M |
|
267
Marathon Petroleum
MPC
$102B
| $630M | 0.06% |
+2,465,801
| New | +$605M |
|
268
Ferrovial N.V. Ordinary Shares
FER
$42.4B
| $630M | 0.06% |
+9,191,762
| New | +$628M |
|
269
Nu Holdings
NU
$71.9B
| $618M | 0.06% |
+46,287,265
| New | +$624M |
|
270
Otis Worldwide
OTIS
$27.2B
| $616M | 0.06% |
+8,602,119
| New | +$643M |
|
271
Spotify
SPOT
$108B
| $611M | 0.06% |
+1,330,719
| New | +$634M |
|
272
Exelon
EXC
$45.3B
| $611M | 0.06% |
+13,097,968
| New | +$606M |
|
273
Entergy
ETR
$49.7B
| $604M | 0.06% |
+5,260,607
| New | +$593M |
|
|
LINE
274
Lineage Inc
LINE
$9.01B
| $602M | 0.06% |
+13,917,122
| New | +$547M |
|
275
Pultegroup
PHM
$24.1B
| $595M | 0.06% |
+4,339,538
| New | +$527M |
|
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.