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 | |
|---|---|---|---|---|---|---|
601
First Horizon
FHN
$11.6B
| $154M | 0.02% |
+6,441,083
| New | +$144M |
|
602
Healthpeak Properties
DOC
$14.6B
| $154M | 0.02% |
+9,549,137
| New | +$168M |
|
603
Thomson Reuters
TRI
$46B
| $153M | 0.02% |
+1,144,580
| New | +$166M |
|
604
Americold
COLD
$4.34B
| $153M | 0.02% |
+11,872,796
| New | +$146M |
|
605
Bunge Global
BG
$21.6B
| $153M | 0.02% |
+1,713,174
| New | +$158M |
|
606
Clean Harbors
CLH
$16.4B
| $152M | 0.02% |
+649,075
| New | +$148M |
|
607
Zillow
ZG
$8.35B
| $152M | 0.02% |
+2,228,493
| New | +$157M |
|
608
BJs Wholesale Club
BJ
$11.5B
| $152M | 0.02% |
+1,685,712
| New | +$155M |
|
609
Factset
FDS
$10.8B
| $151M | 0.02% |
+522,045
| New | +$147M |
|
610
Gildan
GIL
$9.93B
| $151M | 0.02% |
+2,416,076
| New | +$144M |
|
611
Credicorp
BAP
$29.6B
| $151M | 0.02% |
+525,485
| New | +$139M |
|
612
TKO Group
TKO
$13.4B
| $151M | 0.02% |
+720,584
| New | +$140M |
|
|
SEE
613
DELISTED
Sealed Air
SEE
| $150M | 0.02% |
+3,619,312
| New | +$140M |
|
614
GFL Environmental
GFL
$14.7B
| $149M | 0.02% |
+3,479,778
| New | +$155M |
|
615
HP
HPQ
$27.3B
| $149M | 0.02% |
+6,701,459
| New | +$171M |
|
616
TD Synnex
SNX
$20.6B
| $149M | 0.02% |
+988,876
| New | +$152M |
|
617
EPAM Systems
EPAM
$5.93B
| $148M | 0.02% |
+721,738
| New | +$129M |
|
618
Hasbro
HAS
$13.3B
| $148M | 0.02% |
+1,801,806
| New | +$141M |
|
619
Solventum
SOLV
$15.5B
| $147M | 0.02% |
+1,861,020
| New | +$143M |
|
620
MKS Inc
MKSI
$17.9B
| $147M | 0.02% |
+922,737
| New | +$137M |
|
621
Texas Roadhouse
TXRH
$13.1B
| $146M | 0.02% |
+877,915
| New | +$149M |
|
622
Conagra Brands
CAG
$7.74B
| $146M | 0.02% |
+8,414,552
| New | +$149M |
|
623
Jefferies Financial Group
JEF
$12.3B
| $146M | 0.02% |
+2,349,258
| New | +$135M |
|
624
Darden Restaurants
DRI
$24.3B
| $144M | 0.02% |
+785,147
| New | +$143M |
|
625
Rocket Companies
RKT
$40.5B
| $144M | 0.02% |
+7,448,727
| New | +$133M |
|
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.