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 | |
|---|---|---|---|---|---|---|---|
26
KLA
KLAC
$255B
| $5.9B | 0.59% |
+19,565,355
| New | +$3.88B |
2013 Q2
52 quarters
|
|
27
Visa
V
$724B
| $5.56B | 0.55% |
+16,215,161
| New | +$5.21B |
2013 Q2
52 quarters
|
|
28
UnitedHealth
UNH
$340B
| $5.29B | 0.53% |
+12,736,973
| New | +$4.72B |
2013 Q2
52 quarters
|
|
29
GE Aerospace
GE
$320B
| $5.12B | 0.51% |
+13,691,596
| New | +$4.29B |
2013 Q2
52 quarters
|
|
30
Bank of America
BAC
$380B
| $4.77B | 0.48% |
+83,794,863
| New | +$4.46B |
2013 Q2
52 quarters
|
|
31
Merck
MRK
$359B
| $4.75B | 0.47% |
+36,983,784
| New | +$4.33B |
2013 Q2
52 quarters
|
|
32
UBS Group
UBS
$147B
| $4.75B | 0.47% |
+95,849,980
| New | +$4.37B |
2014 Q4
46 quarters
|
|
33
Home Depot
HD
$290B
| $4.72B | 0.47% |
+13,383,376
| New | +$4.35B |
2013 Q2
52 quarters
|
|
34
Sandisk
SNDK
$229B
| $4.67B | 0.47% |
+2,055,094
| New | +$2.93B |
2025 Q1
5 quarters
|
|
35
Procter & Gamble
PG
$351B
| $4.67B | 0.47% |
+31,831,692
| New | +$4.63B |
2013 Q2
52 quarters
|
|
36
Wells Fargo
WFC
$253B
| $4.59B | 0.46% |
+55,487,578
| New | +$4.46B |
2013 Q2
52 quarters
|
|
37
Berkshire Hathaway Class B
BRK.B
$1.1T
| $4.4B | 0.44% |
+8,785,259
| New | +$4.22B |
2013 Q2
52 quarters
|
|
38
Marvell Technology
MRVL
$247B
| $4.23B | 0.42% |
+14,201,483
| New | +$2.85B |
2013 Q2
52 quarters
|
|
39
Coca-Cola
KO
$379B
| $4.23B | 0.42% |
+52,025,304
| New | +$4.11B |
2013 Q2
52 quarters
|
|
40
Netflix
NFLX
$293B
| $4.14B | 0.41% |
+57,951,405
| New | +$5.1B |
2013 Q2
52 quarters
|
|
41
Welltower
WELL
$162B
| $4.12B | 0.41% |
+18,146,984
| New | +$3.84B |
2013 Q2
52 quarters
|
|
42
Royal Bank of Canada
RY
$266B
| $4.12B | 0.41% |
+19,905,354
| New | +$3.69B |
2013 Q2
52 quarters
|
|
43
GE Vernova
GEV
$268B
| $4.02B | 0.4% |
+3,419,249
| New | +$3.49B |
2024 Q2
8 quarters
|
|
44
Texas Instruments
TXN
$259B
| $3.94B | 0.39% |
+13,220,004
| New | +$3.67B |
2013 Q2
52 quarters
|
|
45
Chevron
CVX
$416B
| $3.81B | 0.38% |
+22,964,061
| New | +$4.27B |
2013 Q2
52 quarters
|
|
46
RTX Corp
RTX
$251B
| $3.79B | 0.38% |
+19,952,281
| New | +$3.66B |
2013 Q2
52 quarters
|
|
47
Morgan Stanley
MS
$298B
| $3.76B | 0.37% |
+17,984,532
| New | +$3.56B |
2013 Q2
52 quarters
|
|
48
Oracle
ORCL
$429B
| $3.66B | 0.37% |
+25,002,553
| New | +$4.53B |
2013 Q2
52 quarters
|
|
49
Palantir
PLTR
$502B
| $3.63B | 0.36% |
+31,076,211
| New | +$4.24B |
2021 Q3
19 quarters
|
|
50
Digital Realty Trust
DLR
$66.3B
| $3.46B | 0.35% |
+19,290,135
| New | +$3.69B |
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.