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 | |
|---|---|---|---|---|---|---|
351
Ingersoll Rand
IR
$30.6B
| $408M | 0.04% |
+5,149,142
| New | +$407M |
|
352
Jabil
JBL
$32.7B
| $407M | 0.04% |
+1,786,241
| New | +$381M |
|
353
Teck Resources
TECK
$34.6B
| $405M | 0.04% |
+8,456,934
| New | +$366M |
|
354
Archer Daniels Midland
ADM
$38.1B
| $403M | 0.04% |
+7,005,443
| New | +$419M |
|
355
M&T Bank
MTB
$34.5B
| $403M | 0.04% |
+1,998,500
| New | +$382M |
|
356
Teradyne
TER
$58.2B
| $399M | 0.04% |
+2,060,223
| New | +$353M |
|
357
Sun Life Financial
SLF
$43.8B
| $398M | 0.04% |
+6,376,216
| New | +$385M |
|
358
Ares Management
ARES
$32.1B
| $396M | 0.04% |
+2,451,063
| New | +$382M |
|
359
CubeSmart
CUBE
$9B
| $396M | 0.04% |
+10,983,859
| New | +$417M |
|
|
GRMN
360
Garmin
GRMN
$55.9B
| $395M | 0.04% |
+1,948,406
| New | +$424M |
|
361
First Solar
FSLR
$22.6B
| $392M | 0.04% |
+1,500,746
| New | +$378M |
|
362
Emcor
EME
$34.2B
| $390M | 0.04% |
+636,986
| New | +$412M |
|
363
Albertsons Companies
ACI
$5.94B
| $388M | 0.04% |
+22,602,710
| New | +$403M |
|
364
Vulcan Materials
VMC
$35.5B
| $384M | 0.04% |
+1,344,971
| New | +$395M |
|
365
Synchrony
SYF
$26B
| $383M | 0.04% |
+4,593,447
| New | +$351M |
|
366
Carrier Global
CARR
$48.5B
| $380M | 0.04% |
+7,197,188
| New | +$400M |
|
367
Natera
NTRA
$48.8B
| $372M | 0.04% |
+1,625,553
| New | +$339M |
|
368
Viking Holdings
VIK
$40.1B
| $372M | 0.04% |
+5,213,516
| New | +$333M |
|
369
Reddit
RDDT
$29.6B
| $372M | 0.04% |
+1,618,511
| New | +$340M |
|
370
LPL Financial
LPLA
$28.4B
| $372M | 0.04% |
+1,040,445
| New | +$368M |
|
371
Iron Mountain
IRM
$36.5B
| $369M | 0.04% |
+4,447,133
| New | +$416M |
|
372
Las Vegas Sands
LVS
$28.7B
| $365M | 0.04% |
+5,605,957
| New | +$344M |
|
373
Coca-Cola Europacific Partners
CCEP
$47.4B
| $363M | 0.04% |
+4,000,477
| New | +$361M |
|
374
lululemon athletica
LULU
$13.1B
| $363M | 0.04% |
+1,744,852
| New | +$316M |
|
375
General Mills
GIS
$21.6B
| $362M | 0.04% |
+7,775,312
| New | +$370M |
|
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.