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 | |
|---|---|---|---|---|---|---|---|
326
BioMarin Pharmaceuticals
BMRN
$10.7B
| $470M | 0.05% |
+8,207,954
| New | +$450M |
2013 Q2
52 quarters
|
|
327
Essex Property Trust
ESS
$17.4B
| $469M | 0.05% |
+1,607,742
| New | +$432M |
2013 Q2
52 quarters
|
|
328
Corteva
CTVA
$8.87B
| $465M | 0.05% |
+5,496,133
| New | +$441M |
2019 Q2
28 quarters
|
|
329
Mercado Libre
MELI
$95.9B
| $463M | 0.05% |
+272,595
| New | +$466M |
2013 Q2
52 quarters
|
|
330
DexCom
DXCM
$32.4B
| $463M | 0.05% |
+6,868,090
| New | +$458M |
2013 Q2
52 quarters
|
|
331
Lincoln Electric
LECO
$14.2B
| $459M | 0.05% |
+1,728,502
| New | +$452M |
2013 Q2
52 quarters
|
|
332
Smurfit Westrock
SW
$21.5B
| $455M | 0.05% |
+9,884,546
| New | +$408M |
2024 Q3
7 quarters
|
|
333
Truist Financial
TFC
$57B
| $454M | 0.05% |
+9,115,736
| New | +$448M |
2013 Q2
52 quarters
|
|
334
Arch Capital
ACGL
$33.2B
| $454M | 0.05% |
+4,675,717
| New | +$441M |
2013 Q2
52 quarters
|
|
335
Fortive
FTV
$17.3B
| $448M | 0.04% |
+7,339,514
| New | +$441M |
2016 Q3
39 quarters
|
|
336
Carnival Corporation Ltd
CCL
$35.6B
| $445M | 0.04% |
+15,583,012
| New | +$426M |
2013 Q2
52 quarters
|
|
337
Ventas
VTR
$42.9B
| $443M | 0.04% |
+4,993,179
| New | +$426M |
2013 Q2
52 quarters
|
|
338
Crown Castle
CCI
$34.5B
| $442M | 0.04% |
+5,830,200
| New | +$512M |
2013 Q2
52 quarters
|
|
339
IQVIA
IQV
$43.2B
| $438M | 0.04% |
+2,264,944
| New | +$395M |
2013 Q2
52 quarters
|
|
340
Emcor
EME
$34.4B
| $437M | 0.04% |
+526,648
| New | +$446M |
2013 Q2
52 quarters
|
|
341
CoreWeave
CRWV
$44.3B
| $430M | 0.04% |
+4,320,898
| New | +$466M |
2026 Q2
0 quarters
|
|
342
Boston Properties
BXP
$9.51B
| $430M | 0.04% |
+6,481,326
| New | +$388M |
2013 Q2
52 quarters
|
|
343
Celanese
CE
$4.89B
| $430M | 0.04% |
+9,342,811
| New | +$541M |
2013 Q2
52 quarters
|
|
344
MKS Inc
MKSI
$16.9B
| $425M | 0.04% |
+954,667
| New | +$299M |
2013 Q2
52 quarters
|
|
345
Ferguson
FERG
$42.7B
| $424M | 0.04% |
+1,786,384
| New | +$431M |
2021 Q1
21 quarters
|
|
346
Edison International
EIX
$21.4B
| $418M | 0.04% |
+5,621,023
| New | +$401M |
2013 Q2
52 quarters
|
|
347
Citizens Financial Group
CFG
$26.9B
| $415M | 0.04% |
+5,926,803
| New | +$382M |
2014 Q3
47 quarters
|
|
348
Alibaba
BABA
$276B
| $414M | 0.04% |
+4,318,477
| New | +$541M |
2017 Q3
35 quarters
|
|
349
CenterPoint Energy
CNP
$25.7B
| $410M | 0.04% |
+9,310,336
| New | +$399M |
2013 Q2
52 quarters
|
|
350
Williams-Sonoma
WSM
$28.1B
| $410M | 0.04% |
+1,757,080
| New | +$348M |
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.