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
|
+$1.7B |
| 2 |
Apple
AAPL
|
+$1.61B |
| 3 |
Alphabet (Google) Class C
GOOG
|
+$1.17B |
| 4 |
Capital One
COF
|
+$865M |
| 5 |
Tesla
TSLA
|
+$812M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Alphabet (Google) Class A
GOOGL
|
+$1.89B |
| 2 |
Sea Limited
SE
|
+$1.15B |
| 3 |
NextEra Energy
NEE
|
+$1.06B |
| 4 |
DFS
Discover Financial Services
DFS
|
+$847M |
| 5 |
Sempra
SRE
|
+$708M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Technology | 31.63% |
| 2 | Financials | 15.4% |
| 3 | Consumer Discretionary | 10.72% |
| 4 | Communication Services | 9.72% |
| 5 | Healthcare | 9.34% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
476
Tradeweb Markets
TW
$22.8B
| $204M | 0.03% |
1,392,461
-184,758
| -12% | -$25.8M |
|
|
SARO
477
StandardAero Inc
SARO
$8.3B
| $203M | 0.03% |
6,415,109
+1,090,006
| +20% | +$30.6M |
|
478
Domino's
DPZ
$11B
| $203M | 0.03% |
449,801
-61,458
| -12% | -$28.9M |
|
479
Yum China
YUMC
$15.3B
| $202M | 0.03% |
4,513,463
+299,150
| +7% | +$13.4M |
|
480
Woodward
WWD
$20.4B
| $202M | 0.03% |
822,372
-69,321
| -8% | -$14.2M |
|
481
Aecom
ACM
$8.52B
| $201M | 0.03% |
1,779,899
+20,956
| +1% | +$2.18M |
|
482
West Pharmaceutical
WST
$24.4B
| $201M | 0.03% |
917,792
+14,025
| +2% | +$3M |
|
483
Trimble
TRMB
$14.3B
| $199M | 0.02% |
2,613,625
-7,257
| -0.3% | -$487K |
|
484
Live Nation Entertainment
LYV
$42.1B
| $198M | 0.02% |
1,311,055
-352,721
| -21% | -$48.6M |
|
|
WBA
485
DELISTED
Walgreens Boots Alliance
WBA
| $198M | 0.02% |
17,272,849
+7,545,008
| +78% | +$84M |
|
486
Sprouts Farmers Market
SFM
$7.56B
| $198M | 0.02% |
1,203,108
-23,407
| -2% | -$3.82M |
|
487
Trade Desk
TTD
$6.31B
| $197M | 0.02% |
2,741,526
-1,044,548
| -28% | -$66.7M |
|
488
Seagate
STX
$192B
| $197M | 0.02% |
1,365,115
+764,651
| +127% | +$79.2M |
|
489
Coherent
COHR
$57.8B
| $196M | 0.02% |
2,200,651
+240,538
| +12% | +$17.3M |
|
490
News Corp Class A
NWSA
$16.8B
| $196M | 0.02% |
6,591,856
+291,028
| +5% | +$8M |
|
491
KeyCorp
KEY
$23.5B
| $196M | 0.02% |
11,230,888
+786,555
| +8% | +$12.2M |
|
492
Insmed
INSM
$26.5B
| $195M | 0.02% |
1,934,899
+192,056
| +11% | +$14.7M |
|
493
Duolingo
DUOL
$6.68B
| $193M | 0.02% |
470,623
-2,186
| -0.5% | -$959K |
|
494
Ball Corp
BALL
$16.8B
| $192M | 0.02% |
3,431,325
-76,742
| -2% | -$4.01M |
|
495
Crane Co
CR
$12.1B
| $191M | 0.02% |
1,003,387
+45,226
| +5% | +$7.51M |
|
496
Clorox
CLX
$12.5B
| $190M | 0.02% |
1,585,984
-22,693
| -1% | -$3.03M |
|
497
Fidelity National Financial
FNF
$12.7B
| $190M | 0.02% |
3,383,603
+80,075
| +2% | +$4.68M |
|
498
Estee Lauder
EL
$38.4B
| $190M | 0.02% |
2,347,314
-591,344
| -20% | -$38M |
|
|
JNPR
499
DELISTED
Juniper Networks
JNPR
| $188M | 0.02% |
4,709,363
-2,327,848
| -33% | -$83.4M |
|
500
Aptiv
APTV
$9.43B
| $188M | 0.02% |
2,750,689
+365,823
| +15% | +$22.7M |
|
Similar funds
Norges Bank's Q2 2025 Portfolio in Review
As of Q2 2025, Norges Bank held 1,794 positions worth $801B, up 12% from $712B the previous quarter. Its ten largest holdings account for 33% of the portfolio.
Norges Bank's Q2 2025 filing shows 51 new, 783 increased, 711 reduced and 87 closed positions. Its largest new stake was Amrize Ltd: 13,445,492 shares worth $671M. The largest sale was Alphabet (Google) Class A, an estimated $1.89B.
By sector, the portfolio is most concentrated in Technology at 32% of assets, up from 28% a quarter earlier, followed by Financials and Consumer Discretionary.
- Norges Bank's largest Q2 2025 buy was Amrize Ltd: 13,445,492 shares worth $671M.
- Norges Bank added most to NVIDIA in Q2 2025, an estimated $1.7B increase.
- Norges Bank's biggest Q2 2025 reduction was Alphabet (Google) Class A, cutting an estimated $1.89B.
- Norges Bank fully exited Discover Financial Services in Q2 2025, selling an estimated $847M.
- Norges Bank's ten largest holdings make up 33% of its $801B portfolio in Q2 2025.
- Norges Bank opened 51 new positions and closed 87 in Q2 2025.
- Norges Bank's portfolio value rose 12% quarter-over-quarter to $801B.
Based on Norges Bank's 13F filing for Q2 2025, filed 13 Aug 2025.