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 | |
|---|---|---|---|---|---|---|---|
251
TE Connectivity
TEL
$62.9B
| $687M | 0.07% |
+3,405,824
| New | +$726M |
2013 Q2
52 quarters
|
|
252
Alnylam Pharmaceuticals
ALNY
$30.4B
| $684M | 0.07% |
+2,271,813
| New | +$685M |
2013 Q2
52 quarters
|
|
253
Canadian National Railway
CNI
$71.6B
| $679M | 0.07% |
+5,695,165
| New | +$648M |
2013 Q2
52 quarters
|
|
254
Republic Services
RSG
$67.3B
| $674M | 0.07% |
+3,162,965
| New | +$661M |
2013 Q2
52 quarters
|
|
255
Wheaton Precious Metals
WPM
$62.7B
| $672M | 0.07% |
+5,983,577
| New | +$778M |
2013 Q2
52 quarters
|
|
256
W.W. Grainger
GWW
$61.5B
| $663M | 0.07% |
+487,087
| New | +$600M |
2013 Q2
52 quarters
|
|
257
Waste Connections
WCN
$38.7B
| $659M | 0.07% |
+3,957,385
| New | +$626M |
2013 Q2
52 quarters
|
|
258
Manulife Financial
MFC
$70.9B
| $657M | 0.07% |
+16,213,714
| New | +$627M |
2013 Q2
52 quarters
|
|
259
Automatic Data Processing
ADP
$108B
| $654M | 0.07% |
+2,920,189
| New | +$624M |
2013 Q2
52 quarters
|
|
260
Sun Communities
SUI
$13.9B
| $652M | 0.07% |
+5,439,467
| New | +$680M |
2013 Q2
52 quarters
|
|
261
Old Dominion Freight Line
ODFL
$37.7B
| $646M | 0.06% |
+2,980,836
| New | +$644M |
2013 Q2
52 quarters
|
|
262
NetApp
NTAP
$47B
| $645M | 0.06% |
+4,170,849
| New | +$545M |
2013 Q2
52 quarters
|
|
263
CBRE Group
CBRE
$37.9B
| $645M | 0.06% |
+4,787,848
| New | +$660M |
2013 Q2
52 quarters
|
|
264
NXP Semiconductors
NXPI
$56.8B
| $642M | 0.06% |
+2,285,448
| New | +$630M |
2013 Q2
52 quarters
|
|
265
Kimberly-Clark
KMB
$32.8B
| $634M | 0.06% |
+5,773,617
| New | +$572M |
2013 Q2
52 quarters
|
|
266
Becton Dickinson
BDX
$51.5B
| $631M | 0.06% |
+4,169,523
| New | +$624M |
2013 Q2
52 quarters
|
|
267
Marathon Petroleum
MPC
$129B
| $630M | 0.06% |
+2,465,801
| New | +$605M |
2013 Q2
52 quarters
|
|
268
Ferrovial N.V. Ordinary Shares
FER
$36.2B
| $630M | 0.06% |
+9,191,762
| New | +$628M |
2024 Q2
8 quarters
|
|
269
Nu Holdings
NU
$77.3B
| $618M | 0.06% |
+46,287,265
| New | +$624M |
2021 Q4
18 quarters
|
|
270
Otis Worldwide
OTIS
$25.4B
| $616M | 0.06% |
+8,602,119
| New | +$643M |
2020 Q2
24 quarters
|
|
271
Spotify
SPOT
$109B
| $611M | 0.06% |
+1,330,719
| New | +$634M |
2018 Q2
32 quarters
|
|
272
Exelon
EXC
$43.4B
| $611M | 0.06% |
+13,097,968
| New | +$606M |
2013 Q2
52 quarters
|
|
273
Entergy
ETR
$49.7B
| $604M | 0.06% |
+5,260,607
| New | +$593M |
2013 Q2
52 quarters
|
|
274
Lineage Inc
LINE
$7.84B
| $602M | 0.06% |
+13,917,122
| New | +$547M |
2024 Q3
7 quarters
|
|
275
Pultegroup
PHM
$21.2B
| $595M | 0.06% |
+4,339,538
| New | +$527M |
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.