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 | |
|---|---|---|---|---|---|---|
376
Xylem
XYL
$26.3B
| $361M | 0.04% |
+2,650,989
| New | +$381M |
|
377
Pinterest
PINS
$13B
| $358M | 0.04% |
+13,825,606
| New | +$398M |
|
378
Citizens Financial Group
CFG
$29.6B
| $356M | 0.04% |
+6,093,287
| New | +$327M |
|
379
Martin Marietta Materials
MLM
$37.5B
| $355M | 0.04% |
+569,623
| New | +$354M |
|
380
Cboe Global Markets
CBOE
$32.8B
| $355M | 0.04% |
+1,412,661
| New | +$351M |
|
381
AerCap
AER
$23.3B
| $352M | 0.04% |
+2,449,721
| New | +$324M |
|
|
EXAS
382
DELISTED
Exact Sciences
EXAS
| $348M | 0.04% |
+3,430,733
| New | +$276M |
|
383
Verisk Analytics
VRSK
$24.9B
| $346M | 0.04% |
+1,548,826
| New | +$350M |
|
384
Broadridge
BR
$20.9B
| $346M | 0.04% |
+1,551,748
| New | +$354M |
|
385
Rubrik
RBRK
$22B
| $346M | 0.04% |
+4,522,846
| New | +$347M |
|
386
HEICO Corp Class A
HEI.A
$35.1B
| $345M | 0.04% |
+1,368,250
| New | +$338M |
|
387
Tapestry
TPR
$24.6B
| $345M | 0.04% |
+2,702,899
| New | +$309M |
|
388
CenterPoint Energy
CNP
$25.9B
| $344M | 0.04% |
+8,970,387
| New | +$350M |
|
389
Rocket Lab Corp
RKLB
$43.2B
| $341M | 0.04% |
+4,888,706
| New | +$280M |
|
390
Kilroy Realty
KRC
$4.27B
| $340M | 0.04% |
+9,101,700
| New | +$372M |
|
391
Edison International
EIX
$28.4B
| $339M | 0.04% |
+5,653,304
| New | +$324M |
|
392
American Water Works
AWK
$27.2B
| $337M | 0.04% |
+2,582,403
| New | +$345M |
|
393
NiSource
NI
$19.6B
| $337M | 0.04% |
+8,066,389
| New | +$345M |
|
394
Fortis
FTS
$28B
| $336M | 0.04% |
+6,462,155
| New | +$331M |
|
395
Veeva Systems
VEEV
$45.8B
| $332M | 0.04% |
+1,489,103
| New | +$395M |
|
396
Kraft Heinz
KHC
$29.8B
| $332M | 0.04% |
+13,706,471
| New | +$341M |
|
397
Idexx Laboratories
IDXX
$42.9B
| $332M | 0.04% |
+491,131
| New | +$334M |
|
398
Centene
CNC
$32.3B
| $332M | 0.04% |
+8,069,121
| New | +$302M |
|
399
Atmos Energy
ATO
$28.3B
| $331M | 0.04% |
+1,977,131
| New | +$342M |
|
400
ON Semiconductor
ON
$29.1B
| $331M | 0.04% |
+6,110,525
| New | +$313M |
|
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.