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 | |
|---|---|---|---|---|---|---|
526
Carpenter Technology
CRS
$24.3B
| $195M | 0.02% |
+620,168
| New | +$187M |
|
527
Jones Lang LaSalle
JLL
$17.4B
| $195M | 0.02% |
+579,397
| New | +$182M |
|
528
ITT
ITT
$18.6B
| $195M | 0.02% |
+1,123,184
| New | +$201M |
|
529
Masco
MAS
$14.4B
| $195M | 0.02% |
+3,069,935
| New | +$199M |
|
530
Fabrinet
FN
$15.5B
| $194M | 0.02% |
+425,597
| New | +$185M |
|
531
CF Industries
CF
$19B
| $194M | 0.02% |
+2,503,965
| New | +$206M |
|
532
ADT
ADT
$5.45B
| $193M | 0.02% |
+23,915,277
| New | +$199M |
|
533
Akamai
AKAM
$16B
| $193M | 0.02% |
+2,211,563
| New | +$182M |
|
534
US Foods
USFD
$23.3B
| $193M | 0.02% |
+2,560,390
| New | +$192M |
|
535
Dick's Sporting Goods
DKS
$11.8B
| $193M | 0.02% |
+973,070
| New | +$212M |
|
536
Nordson
NDSN
$18.4B
| $192M | 0.02% |
+797,129
| New | +$187M |
|
537
Ciena
CIEN
$56.6B
| $190M | 0.02% |
+811,950
| New | +$158M |
|
538
Fox Class A
FOXA
$28.3B
| $189M | 0.02% |
+2,592,685
| New | +$169M |
|
539
News Corp Class A
NWSA
$16.8B
| $189M | 0.02% |
+7,227,719
| New | +$190M |
|
540
Avery Dennison
AVY
$13.5B
| $188M | 0.02% |
+1,036,055
| New | +$179M |
|
|
Q
541
Qnity Electronics Inc
Q
$26.4B
| $188M | 0.02% |
+2,298,838
| New | +$195M |
|
542
Nutanix
NTNX
$18.9B
| $187M | 0.02% |
+3,620,987
| New | +$221M |
|
|
DOCU
543
DocuSign
DOCU
$12.2B
| $187M | 0.02% |
+2,730,922
| New | +$189M |
|
544
Hewlett Packard
HPE
$72B
| $186M | 0.02% |
+7,742,269
| New | +$182M |
|
|
CWAN
545
DELISTED
Clearwater Analytics
CWAN
| $184M | 0.02% |
+7,639,740
| New | +$153M |
|
546
W.P. Carey
WPC
$16B
| $184M | 0.02% |
+2,859,460
| New | +$190M |
|
547
Five Below
FIVE
$13.7B
| $183M | 0.02% |
+970,408
| New | +$158M |
|
|
ECHO
548
EchoStar
ECHO
$25.1B
| $182M | 0.02% |
+1,675,354
| New | +$136M |
|
|
TXNM
549
TXNM Energy Inc
TXNM
$5.93B
| $182M | 0.02% |
+3,092,063
| New | +$178M |
|
550
APi Group
APG
$17.8B
| $181M | 0.02% |
+4,732,517
| New | +$175M |
|
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.