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 | |
|---|---|---|---|---|---|---|---|
301
D.R. Horton
DHI
$37.6B
| $529M | 0.05% |
+3,247,214
| New | +$485M |
2013 Q2
52 quarters
|
|
302
Nasdaq
NDAQ
$52.7B
| $527M | 0.05% |
+6,691,237
| New | +$587M |
2013 Q2
52 quarters
|
|
303
Keurig Dr Pepper
KDP
$44.6B
| $525M | 0.05% |
+16,043,089
| New | +$467M |
2013 Q2
52 quarters
|
|
304
Axon Enterprise
AXON
$33.7B
| $522M | 0.05% |
+931,827
| New | +$390M |
2013 Q2
52 quarters
|
|
305
Archer Daniels Midland
ADM
$38.8B
| $521M | 0.05% |
+6,820,493
| New | +$519M |
2013 Q2
52 quarters
|
|
306
Cameco
CCJ
$37.5B
| $520M | 0.05% |
+5,107,979
| New | +$573M |
2013 Q2
52 quarters
|
|
307
Consolidated Edison
ED
$39.6B
| $517M | 0.05% |
+4,671,271
| New | +$508M |
2013 Q2
52 quarters
|
|
308
Agilent Technologies
A
$48.3B
| $514M | 0.05% |
+3,869,544
| New | +$472M |
2013 Q2
52 quarters
|
|
309
Wabtec
WAB
$48.3B
| $511M | 0.05% |
+1,896,763
| New | +$502M |
2013 Q2
52 quarters
|
|
310
Royal Caribbean
RCL
$75.1B
| $511M | 0.05% |
+1,609,113
| New | +$450M |
2013 Q2
52 quarters
|
|
311
Loews
L
$22B
| $510M | 0.05% |
+4,508,922
| New | +$489M |
2013 Q2
52 quarters
|
|
312
Mettler-Toledo International
MTD
$31.3B
| $510M | 0.05% |
+399,539
| New | +$482M |
2013 Q2
52 quarters
|
|
313
Sun Life Financial
SLF
$43B
| $500M | 0.05% |
+6,370,400
| New | +$458M |
2013 Q2
52 quarters
|
|
314
American International
AIG
$40.6B
| $498M | 0.05% |
+6,681,259
| New | +$508M |
2013 Q2
52 quarters
|
|
315
Natera
NTRA
$57.3B
| $496M | 0.05% |
+1,828,122
| New | +$390M |
2019 Q3
27 quarters
|
|
316
Teck Resources
TECK
$33.1B
| $495M | 0.05% |
+8,316,517
| New | +$507M |
2013 Q2
52 quarters
|
|
317
Viking Holdings
VIK
$36.1B
| $494M | 0.05% |
+4,719,836
| New | +$408M |
2024 Q2
8 quarters
|
|
318
PayPal
PYPL
$47.9B
| $491M | 0.05% |
+11,379,017
| New | +$518M |
2015 Q3
43 quarters
|
|
319
Centene
CNC
$33.1B
| $491M | 0.05% |
+7,651,758
| New | +$409M |
2013 Q2
52 quarters
|
|
320
CubeSmart
CUBE
$8.54B
| $487M | 0.05% |
+12,236,433
| New | +$487M |
2013 Q2
52 quarters
|
|
321
Aptiv
APTV
$9.04B
| $482M | 0.05% |
+7,846,247
| New | +$480M |
2013 Q2
52 quarters
|
|
322
MSCI
MSCI
$41.3B
| $482M | 0.05% |
+859,813
| New | +$502M |
2013 Q2
52 quarters
|
|
323
M&T Bank
MTB
$31.8B
| $472M | 0.05% |
+1,985,145
| New | +$434M |
2013 Q2
52 quarters
|
|
324
Garmin
GRMN
$51.4B
| $472M | 0.05% |
+1,986,445
| New | +$483M |
2013 Q2
52 quarters
|
|
325
MongoDB
MDB
$30.7B
| $472M | 0.05% |
+1,404,430
| New | +$421M |
2019 Q1
29 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.