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 | |
|---|---|---|---|---|---|---|
301
Willis Towers Watson
WTW
$31.5B
| $511M | 0.05% |
+1,555,541
| New | +$509M |
|
302
Zoom
ZM
$29.4B
| $510M | 0.05% |
+5,907,844
| New | +$497M |
|
303
Insmed
INSM
$26.5B
| $507M | 0.05% |
+2,910,971
| New | +$531M |
|
304
Corteva
CTVA
$55B
| $504M | 0.05% |
+7,519,031
| New | +$486M |
|
305
Truist Financial
TFC
$61.4B
| $502M | 0.05% |
+10,208,097
| New | +$470M |
|
306
Seagate
STX
$192B
| $498M | 0.05% |
+1,809,661
| New | +$470M |
|
307
Coupang
CPNG
$29.2B
| $498M | 0.05% |
+21,124,736
| New | +$601M |
|
308
Ferguson
FERG
$45.1B
| $498M | 0.05% |
+2,236,918
| New | +$534M |
|
309
IQVIA
IQV
$43.2B
| $497M | 0.05% |
+2,206,846
| New | +$480M |
|
310
Fidelity National Information Services
FIS
$20.9B
| $496M | 0.05% |
+7,462,468
| New | +$492M |
|
|
SW
311
Smurfit Westrock
SW
$25.5B
| $495M | 0.05% |
+12,813,255
| New | +$489M |
|
312
Fortive
FTV
$18.1B
| $492M | 0.05% |
+8,910,119
| New | +$462M |
|
313
Fair Isaac
FICO
$25B
| $490M | 0.05% |
+289,958
| New | +$499M |
|
314
Consolidated Edison
ED
$39.5B
| $490M | 0.05% |
+4,931,590
| New | +$489M |
|
|
XYZ
315
Block Inc
XYZ
$51B
| $484M | 0.05% |
+7,441,802
| New | +$513M |
|
316
DexCom
DXCM
$33.7B
| $483M | 0.05% |
+7,282,743
| New | +$471M |
|
|
LINE
317
Lineage Inc
LINE
$9.01B
| $482M | 0.05% |
+13,778,722
| New | +$509M |
|
318
Airbnb
ABNB
$109B
| $480M | 0.05% |
+3,539,136
| New | +$441M |
|
319
CoStar Group
CSGP
$12.7B
| $477M | 0.05% |
+7,090,495
| New | +$502M |
|
320
Ventas
VTR
$47.6B
| $475M | 0.05% |
+6,132,989
| New | +$463M |
|
321
Lumentum
LITE
$85.8B
| $474M | 0.05% |
+1,287,325
| New | +$331M |
|
322
Marathon Petroleum
MPC
$102B
| $472M | 0.05% |
+2,904,209
| New | +$543M |
|
323
Kroger
KR
$34.9B
| $471M | 0.05% |
+7,531,387
| New | +$493M |
|
324
Comfort Systems
FIX
$56.8B
| $470M | 0.05% |
+503,173
| New | +$465M |
|
325
Datadog
DDOG
$87.2B
| $469M | 0.05% |
+3,452,172
| New | +$546M |
|
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.