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 | |
|---|---|---|---|---|---|---|---|
726
Core & Main
CNM
$7.5B
| $116M | 0.01% |
+2,399,645
| New | +$119M |
2021 Q3
19 quarters
|
|
727
Post Holdings
POST
$3.48B
| $116M | 0.01% |
+1,309,435
| New | +$128M |
2013 Q2
52 quarters
|
|
728
Cullen/Frost Bankers
CFR
$9.43B
| $115M | 0.01% |
+747,202
| New | +$106M |
2013 Q2
52 quarters
|
|
729
Applied Digital
APLD
$7.03B
| $115M | 0.01% |
+3,088,677
| New | +$119M |
2025 Q4
2 quarters
|
|
730
Madrigal Pharmaceuticals
MDGL
$10.8B
| $115M | 0.01% |
+213,886
| New | +$110M |
2018 Q3
31 quarters
|
|
731
GameStop
GME
$13.7B
| $115M | 0.01% |
+5,201,045
| New | +$119M |
2024 Q3
7 quarters
|
|
732
Liberty Media Corporation Series A Common Stock
FWONA
$21.7B
| $115M | 0.01% |
+1,308,568
| New | +$108M |
2013 Q2
52 quarters
|
|
733
Voya Financial
VOYA
$8.6B
| $114M | 0.01% |
+1,262,432
| New | +$103M |
2013 Q3
51 quarters
|
|
734
EnerSys
ENS
$6.43B
| $114M | 0.01% |
+488,201
| New | +$106M |
2013 Q2
52 quarters
|
|
735
Alkermes
ALKS
$6.75B
| $113M | 0.01% |
+2,156,814
| New | +$84.2M |
2013 Q2
52 quarters
|
|
736
On Holding
ONON
$11.8B
| $113M | 0.01% |
+3,183,343
| New | +$116M |
2023 Q1
13 quarters
|
|
737
Hecla Mining
HL
$11.3B
| $112M | 0.01% |
+7,239,979
| New | +$127M |
2025 Q4
2 quarters
|
|
738
Compass
COMP
$6.77B
| $111M | 0.01% |
+9,035,228
| New | +$75.3M |
2026 Q2
0 quarters
|
|
739
Molson Coors Class B
TAP
$7.11B
| $111M | 0.01% |
+2,857,828
| New | +$119M |
2013 Q2
52 quarters
|
|
740
Gartner
IT
$12.3B
| $111M | 0.01% |
+854,653
| New | +$129M |
2013 Q2
52 quarters
|
|
741
ESCO Technologies
ESE
$6.78B
| $109M | 0.01% |
+311,551
| New | +$97.5M |
2013 Q2
52 quarters
|
|
742
International Flavors & Fragrances
IFF
$21.7B
| $109M | 0.01% |
+1,376,139
| New | +$102M |
2013 Q2
52 quarters
|
|
743
DocuSign
DOCU
$13.3B
| $109M | 0.01% |
+2,446,076
| New | +$115M |
2018 Q3
31 quarters
|
|
744
MP Materials
MP
$7.72B
| $108M | 0.01% |
+1,934,575
| New | +$118M |
2025 Q2
4 quarters
|
|
745
D-Wave Quantum Inc
QBTS
$5.22B
| $107M | 0.01% |
+4,477,459
| New | +$98.2M |
2025 Q4
2 quarters
|
|
746
Flowserve
FLS
$8.98B
| $107M | 0.01% |
+1,443,317
| New | +$110M |
2013 Q2
52 quarters
|
|
747
ICL Group
ICL
$6.38B
| $107M | 0.01% |
+21,297,802
| New | +$121M |
2015 Q3
43 quarters
|
|
748
Lamb Weston
LW
$6.91B
| $106M | 0.01% |
+2,456,090
| New | +$106M |
2016 Q4
38 quarters
|
|
749
TKO Group
TKO
$12.7B
| $106M | 0.01% |
+526,687
| New | +$103M |
2023 Q3
11 quarters
|
|
750
Zurn Elkay Water Solutions
ZWS
$7.77B
| $106M | 0.01% |
+2,096,197
| New | +$102M |
2013 Q2
52 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.