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 | |
|---|---|---|---|---|---|---|
401
Raymond James Financial
RJF
$33.9B
| $324M | 0.03% |
+2,019,197
| New | +$326M |
|
402
Eversource Energy
ES
$26.7B
| $324M | 0.03% |
+4,812,589
| New | +$338M |
|
403
Atlassian
TEAM
$47B
| $324M | 0.03% |
+1,995,351
| New | +$313M |
|
404
SoFi Technologies
SOFI
$24.8B
| $322M | 0.03% |
+12,280,945
| New | +$342M |
|
405
Steris
STE
$22.7B
| $320M | 0.03% |
+1,263,402
| New | +$317M |
|
406
First Industrial Realty Trust
FR
$8.27B
| $320M | 0.03% |
+5,588,883
| New | +$312M |
|
407
Flex
FLEX
$42.6B
| $320M | 0.03% |
+5,292,218
| New | +$327M |
|
408
Leidos
LDOS
$17.6B
| $319M | 0.03% |
+1,767,400
| New | +$335M |
|
409
Markel Group
MKL
$22.4B
| $318M | 0.03% |
+147,737
| New | +$299M |
|
410
Williams-Sonoma
WSM
$28.1B
| $317M | 0.03% |
+1,774,569
| New | +$332M |
|
411
CMS Energy
CMS
$21.4B
| $316M | 0.03% |
+4,519,622
| New | +$329M |
|
412
Rayonier
RYN
$6.14B
| $314M | 0.03% |
+14,494,525
| New | +$328M |
|
413
VeriSign
VRSN
$26.6B
| $313M | 0.03% |
+1,287,918
| New | +$324M |
|
414
NVR
NVR
$17B
| $311M | 0.03% |
+42,713
| New | +$319M |
|
415
Estee Lauder
EL
$38.4B
| $309M | 0.03% |
+2,949,886
| New | +$286M |
|
416
Amcor
AMCR
$21.5B
| $309M | 0.03% |
+7,403,445
| New | +$305M |
|
417
Tyson Foods
TSN
$19.5B
| $308M | 0.03% |
+5,259,241
| New | +$289M |
|
418
Tractor Supply
TSCO
$18.1B
| $304M | 0.03% |
+6,076,029
| New | +$327M |
|
419
Pan American Silver
PAAS
$22.8B
| $304M | 0.03% |
+5,858,647
| New | +$245M |
|
420
State Street
STT
$53.1B
| $303M | 0.03% |
+2,352,399
| New | +$282M |
|
421
SBA Communications
SBAC
$19.8B
| $303M | 0.03% |
+1,565,288
| New | +$302M |
|
422
Insulet
PODD
$9.95B
| $301M | 0.03% |
+1,058,238
| New | +$331M |
|
423
Gartner
IT
$12.4B
| $300M | 0.03% |
+1,187,473
| New | +$286M |
|
424
STAG Industrial
STAG
$7.15B
| $296M | 0.03% |
+8,042,542
| New | +$305M |
|
425
PTC
PTC
$17.2B
| $295M | 0.03% |
+1,695,651
| New | +$315M |
|
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.