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 | |
|---|---|---|---|---|---|---|
251
Host Hotels & Resorts
HST
$15.3B
| $628M | 0.07% |
+35,420,993
| New | +$611M |
|
252
Exelon
EXC
$45.3B
| $618M | 0.07% |
+14,176,961
| New | +$647M |
|
253
Republic Services
RSG
$67.1B
| $617M | 0.07% |
+2,912,119
| New | +$627M |
|
254
Rockwell Automation
ROK
$48.1B
| $616M | 0.07% |
+1,582,224
| New | +$595M |
|
255
NXP Semiconductors
NXPI
$57B
| $613M | 0.07% |
+2,824,239
| New | +$606M |
|
256
Hartford Financial Services
HIG
$37.3B
| $612M | 0.07% |
+4,439,218
| New | +$586M |
|
257
Corebridge Financial
CRBG
$14.5B
| $612M | 0.07% |
+20,270,137
| New | +$623M |
|
258
Nucor
NUE
$57.3B
| $609M | 0.07% |
+3,733,688
| New | +$561M |
|
259
Dell
DELL
$305B
| $607M | 0.07% |
+4,824,824
| New | +$680M |
|
260
Ferrovial N.V. Ordinary Shares
FER
$42.4B
| $605M | 0.06% |
+9,411,187
| New | +$595M |
|
261
Mercado Libre
MELI
$97.9B
| $597M | 0.06% |
+296,409
| New | +$623M |
|
262
GE HealthCare
GEHC
$32.7B
| $596M | 0.06% |
+7,266,808
| New | +$566M |
|
263
Crown Castle
CCI
$31.9B
| $595M | 0.06% |
+6,691,459
| New | +$615M |
|
264
Alibaba
BABA
$279B
| $594M | 0.06% |
+4,055,651
| New | +$660M |
|
265
Target
TGT
$75.4B
| $588M | 0.06% |
+6,014,348
| New | +$554M |
|
266
TC Energy
TRP
$64.6B
| $584M | 0.06% |
+10,600,494
| New | +$566M |
|
267
Vornado Realty Trust
VNO
$7.23B
| $580M | 0.06% |
+17,419,128
| New | +$636M |
|
268
Franco-Nevada
FNV
$52.3B
| $579M | 0.06% |
+2,791,151
| New | +$566M |
|
269
Loews
L
$22.5B
| $577M | 0.06% |
+5,481,709
| New | +$566M |
|
270
Sea Limited
SE
$72.5B
| $576M | 0.06% |
+4,518,219
| New | +$669M |
|
271
MongoDB
MDB
$35.4B
| $575M | 0.06% |
+1,369,632
| New | +$498M |
|
272
Canadian National Railway
CNI
$76.5B
| $570M | 0.06% |
+5,764,854
| New | +$554M |
|
273
Copart
CPRT
$30.3B
| $570M | 0.06% |
+14,548,385
| New | +$603M |
|
274
Keurig Dr Pepper
KDP
$43.4B
| $568M | 0.06% |
+20,291,351
| New | +$557M |
|
275
Oneok
OKE
$59.7B
| $565M | 0.06% |
+7,685,265
| New | +$544M |
|
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.