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 | |
|---|---|---|---|---|---|---|
651
Jackson Financial
JXN
$9.14B
| $130M | 0.01% |
+1,217,796
| New | +$121M |
|
652
InterDigital
IDCC
$8.6B
| $129M | 0.01% |
+404,918
| New | +$143M |
|
653
On Holding
ONON
$9.73B
| $129M | 0.01% |
+2,771,645
| New | +$119M |
|
654
Jack Henry & Associates
JKHY
$12B
| $129M | 0.01% |
+705,522
| New | +$118M |
|
655
Aramark
ARMK
$15.3B
| $129M | 0.01% |
+3,492,633
| New | +$133M |
|
656
Guardant Health
GH
$21.8B
| $128M | 0.01% |
+1,258,072
| New | +$113M |
|
657
Coeur Mining
CDE
$21.9B
| $128M | 0.01% |
+7,200,721
| New | +$125M |
|
|
SOLS
658
Solstice Advanced Materials
SOLS
$10.3B
| $128M | 0.01% |
+2,642,400
| New | +$124M |
|
659
T. Rowe Price
TROW
$23.9B
| $128M | 0.01% |
+1,253,007
| New | +$129M |
|
660
Halozyme
HALO
$11.9B
| $128M | 0.01% |
+1,904,922
| New | +$128M |
|
661
Oshkosh
OSK
$9.52B
| $128M | 0.01% |
+1,018,125
| New | +$131M |
|
662
Samsara
IOT
$24.3B
| $127M | 0.01% |
+3,594,216
| New | +$139M |
|
663
SouthState Bank Corp
SSB
$10.3B
| $126M | 0.01% |
+1,338,219
| New | +$124M |
|
664
Molson Coors Class B
TAP
$7.7B
| $126M | 0.01% |
+2,693,990
| New | +$124M |
|
665
Lamb Weston
LW
$7.57B
| $126M | 0.01% |
+2,999,818
| New | +$177M |
|
666
Autoliv
ALV
$8.94B
| $126M | 0.01% |
+1,058,207
| New | +$126M |
|
667
Western Alliance Bancorporation
WAL
$8.55B
| $125M | 0.01% |
+1,492,595
| New | +$121M |
|
668
Equity Lifestyle Properties
ELS
$12.4B
| $125M | 0.01% |
+2,068,181
| New | +$128M |
|
669
Lithia Motors
LAD
$8.21B
| $125M | 0.01% |
+376,775
| New | +$120M |
|
670
Applied Industrial Technologies
AIT
$11.8B
| $125M | 0.01% |
+486,990
| New | +$125M |
|
|
RAL
671
Ralliant Corp
RAL
$6.86B
| $125M | 0.01% |
+2,449,160
| New | +$115M |
|
672
Manhattan Associates
MANH
$13.1B
| $124M | 0.01% |
+717,003
| New | +$131M |
|
673
Stantec
STN
$8.43B
| $124M | 0.01% |
+1,316,324
| New | +$136M |
|
674
Carnival Corporation Ltd
CCL
$34.2B
| $124M | 0.01% |
+4,066,828
| New | +$113M |
|
675
SPX Corp
SPXC
$9.98B
| $124M | 0.01% |
+618,418
| New | +$126M |
|
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.