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 | |
|---|---|---|---|---|---|---|
451
Corpay
CPAY
$26.5B
| $266M | 0.03% |
+884,558
| New | +$257M |
|
452
Waters Corp
WAT
$41.4B
| $266M | 0.03% |
+699,659
| New | +$257M |
|
|
CFLT
453
DELISTED
Confluent
CFLT
| $266M | 0.03% |
+8,785,360
| New | +$216M |
|
|
P
454
Everpure Inc
P
$33B
| $265M | 0.03% |
+3,959,514
| New | +$331M |
|
455
Casey's General Stores
CASY
$28.2B
| $265M | 0.03% |
+479,750
| New | +$264M |
|
456
Brookfield Asset Management
BAM
$83.2B
| $263M | 0.03% |
+5,028,864
| New | +$270M |
|
457
KeyCorp
KEY
$23.5B
| $263M | 0.03% |
+12,727,117
| New | +$237M |
|
458
FTAI Aviation
FTAI
$20.5B
| $262M | 0.03% |
+1,332,960
| New | +$227M |
|
459
Veralto
VLTO
$24B
| $261M | 0.03% |
+2,619,165
| New | +$265M |
|
460
Dollar Tree
DLTR
$23.8B
| $261M | 0.03% |
+2,120,628
| New | +$227M |
|
461
Restaurant Brands International
QSR
$27.2B
| $261M | 0.03% |
+3,820,684
| New | +$263M |
|
462
Paychex
PAYX
$45B
| $258M | 0.03% |
+2,297,192
| New | +$269M |
|
463
Northern Trust
NTRS
$34.1B
| $257M | 0.03% |
+1,884,542
| New | +$247M |
|
464
Regions Financial
RF
$25.9B
| $255M | 0.03% |
+9,393,493
| New | +$240M |
|
|
DAY
465
DELISTED
Dayforce
DAY
| $253M | 0.03% |
+3,656,390
| New | +$252M |
|
466
Deckers Outdoor
DECK
$11.8B
| $253M | 0.03% |
+2,437,823
| New | +$228M |
|
467
Woodward
WWD
$20.4B
| $251M | 0.03% |
+831,455
| New | +$229M |
|
468
International Paper
IP
$21.1B
| $250M | 0.03% |
+6,349,147
| New | +$261M |
|
469
GoDaddy
GDDY
$12.3B
| $250M | 0.03% |
+2,014,994
| New | +$261M |
|
470
ResMed
RMD
$34B
| $249M | 0.03% |
+1,034,037
| New | +$264M |
|
471
Tenet Healthcare
THC
$21.6B
| $248M | 0.03% |
+1,250,473
| New | +$253M |
|
472
Labcorp
LH
$27.3B
| $248M | 0.03% |
+988,543
| New | +$263M |
|
473
nVent Electric
NVT
$25.2B
| $246M | 0.03% |
+2,412,033
| New | +$250M |
|
474
Rollins
ROL
$17.3B
| $245M | 0.03% |
+4,076,457
| New | +$239M |
|
475
CGI
GIB
$15.4B
| $243M | 0.03% |
+2,629,343
| New | +$234M |
|
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.