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 | |
|---|---|---|---|---|---|---|
576
Haleon
HLN
$44.2B
| $164M | 0.02% |
+16,175,000
| New | +$154M |
|
577
IDEX
IEX
$17.2B
| $163M | 0.02% |
+914,850
| New | +$156M |
|
578
Neurocrine Biosciences
NBIX
$15.8B
| $163M | 0.02% |
+1,146,896
| New | +$166M |
|
579
Annaly Capital Management
NLY
$17.4B
| $162M | 0.02% |
+7,266,404
| New | +$158M |
|
580
Graco
GGG
$12.9B
| $162M | 0.02% |
+1,975,707
| New | +$163M |
|
581
Assurant
AIZ
$14.1B
| $162M | 0.02% |
+670,848
| New | +$150M |
|
582
Grab
GRAB
$14.7B
| $161M | 0.02% |
+32,361,499
| New | +$179M |
|
583
Sprouts Farmers Market
SFM
$7.56B
| $161M | 0.02% |
+2,025,830
| New | +$182M |
|
584
Icon
ICLR
$13.1B
| $160M | 0.02% |
+878,462
| New | +$156M |
|
585
CarMax
KMX
$8.89B
| $159M | 0.02% |
+4,120,921
| New | +$165M |
|
586
Entegris
ENTG
$22.2B
| $159M | 0.02% |
+1,883,309
| New | +$164M |
|
587
Crown Holdings
CCK
$12.8B
| $158M | 0.02% |
+1,537,224
| New | +$150M |
|
588
Ally Financial
ALLY
$13B
| $158M | 0.02% |
+3,480,024
| New | +$143M |
|
589
BorgWarner
BWA
$13.2B
| $157M | 0.02% |
+3,479,679
| New | +$152M |
|
590
HubSpot
HUBS
$12.8B
| $157M | 0.02% |
+390,588
| New | +$162M |
|
591
Advanced Drainage Systems
WMS
$10.5B
| $157M | 0.02% |
+1,081,179
| New | +$157M |
|
592
Rambus
RMBS
$9.88B
| $156M | 0.02% |
+1,701,551
| New | +$167M |
|
593
Omega Healthcare
OHI
$14B
| $156M | 0.02% |
+3,522,012
| New | +$152M |
|
|
WCC
594
WESCO International
WCC
$17.1B
| $156M | 0.02% |
+636,187
| New | +$156M |
|
595
Globe Life
GL
$13.5B
| $156M | 0.02% |
+1,112,665
| New | +$151M |
|
596
Align Technology
ALGN
$11.3B
| $156M | 0.02% |
+996,197
| New | +$143M |
|
597
Essent Group
ESNT
$6.23B
| $156M | 0.02% |
+2,392,188
| New | +$148M |
|
598
Chewy
CHWY
$9.33B
| $155M | 0.02% |
+4,679,171
| New | +$162M |
|
599
Camden Property Trust
CPT
$12.2B
| $155M | 0.02% |
+1,404,312
| New | +$146M |
|
600
Essential Utilities
WTRG
$11.5B
| $154M | 0.02% |
+4,019,193
| New | +$158M |
|
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.