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 | |
|---|---|---|---|---|---|---|---|
651
Watsco Inc
WSO
$11.7B
| $142M | 0.01% |
+340,450
| New | +$137M |
2013 Q2
52 quarters
|
|
652
Hormel Foods
HRL
$10.5B
| $142M | 0.01% |
+5,704,004
| New | +$127M |
2013 Q2
52 quarters
|
|
653
Allison Transmission
ALSN
$9.15B
| $142M | 0.01% |
+1,255,365
| New | +$152M |
2013 Q2
52 quarters
|
|
654
Viavi Solutions
VIAV
$10B
| $141M | 0.01% |
+2,956,160
| New | +$142M |
2025 Q4
2 quarters
|
|
655
Valmont Industries
VMI
$9.04B
| $141M | 0.01% |
+244,208
| New | +$123M |
2013 Q2
52 quarters
|
|
656
Viasat
VSAT
$9B
| $140M | 0.01% |
+1,558,594
| New | +$103M |
2013 Q2
52 quarters
|
|
657
Pinnacle West Capital
PNW
$12.1B
| $140M | 0.01% |
+1,304,909
| New | +$133M |
2013 Q2
52 quarters
|
|
658
American Healthcare REIT
AHR
$11.5B
| $140M | 0.01% |
+2,676,071
| New | +$131M |
2024 Q1
9 quarters
|
|
659
Cognex
CGNX
$10.2B
| $139M | 0.01% |
+1,925,511
| New | +$117M |
2013 Q2
52 quarters
|
|
660
Zebra Technologies
ZBRA
$18.2B
| $139M | 0.01% |
+527,889
| New | +$124M |
2013 Q2
52 quarters
|
|
661
Jack Henry & Associates
JKHY
$10.6B
| $138M | 0.01% |
+1,000,164
| New | +$142M |
2013 Q2
52 quarters
|
|
662
Invesco
IVZ
$12.7B
| $138M | 0.01% |
+5,210,635
| New | +$138M |
2013 Q2
52 quarters
|
|
663
CareTrust REIT
CTRE
$8.65B
| $137M | 0.01% |
+3,397,692
| New | +$133M |
2019 Q1
29 quarters
|
|
664
Zimmer Biomet
ZBH
$17.5B
| $137M | 0.01% |
+1,587,431
| New | +$139M |
2013 Q2
52 quarters
|
|
665
BrightSpring Health Services
BTSG
$12.2B
| $136M | 0.01% |
+1,955,905
| New | +$109M |
2024 Q1
9 quarters
|
|
666
Southern Copper
SCCO
$174B
| $136M | 0.01% |
+790,392
| New | +$142M |
2013 Q2
52 quarters
|
|
667
Hudbay
HBM
$11.3B
| $135M | 0.01% |
+5,730,407
| New | +$145M |
2016 Q2
40 quarters
|
|
668
Darden Restaurants
DRI
$22.5B
| $135M | 0.01% |
+656,068
| New | +$131M |
2013 Q2
52 quarters
|
|
669
First Citizens BancShares
FCNCA
$23.2B
| $135M | 0.01% |
+64,804
| New | +$130M |
2013 Q2
52 quarters
|
|
670
Popular Inc
BPOP
$9.9B
| $135M | 0.01% |
+819,715
| New | +$124M |
2013 Q2
52 quarters
|
|
671
American Financial Group
AFG
$11.9B
| $132M | 0.01% |
+945,934
| New | +$125M |
2013 Q2
52 quarters
|
|
672
Jefferies Financial Group
JEF
$10.3B
| $132M | 0.01% |
+2,646,300
| New | +$136M |
2013 Q2
52 quarters
|
|
673
Solventum
SOLV
$14.2B
| $132M | 0.01% |
+1,713,676
| New | +$125M |
2024 Q2
8 quarters
|
|
674
Universal Health Services
UHS
$10.5B
| $132M | 0.01% |
+888,499
| New | +$144M |
2013 Q2
52 quarters
|
|
675
Circle Internet Group
CRCL
$21.4B
| $132M | 0.01% |
+2,105,378
| New | +$205M |
2025 Q2
4 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.