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 | |
|---|---|---|---|---|---|---|
751
Invesco
IVZ
$14.5B
| $103M | 0.01% |
+3,902,656
| New | +$95.3M |
|
752
Medpace
MEDP
$16.8B
| $102M | 0.01% |
+181,886
| New | +$103M |
|
|
MRP
753
Millrose Properties Inc
MRP
$5.06B
| $102M | 0.01% |
+3,408,096
| New | +$107M |
|
754
Sanmina
SANM
$10.5B
| $102M | 0.01% |
+678,024
| New | +$100M |
|
755
Lincoln National
LNC
$8.35B
| $101M | 0.01% |
+2,270,699
| New | +$94.6M |
|
756
Watts Water Technologies
WTS
$12.2B
| $101M | 0.01% |
+364,565
| New | +$101M |
|
757
Descartes Systems
DSGX
$7.01B
| $100M | 0.01% |
+1,144,488
| New | +$102M |
|
758
OneMain Financial
OMF
$7.27B
| $100M | 0.01% |
+1,484,999
| New | +$90.3M |
|
759
Valmont Industries
VMI
$9.19B
| $99.8M | 0.01% |
+248,058
| New | +$101M |
|
760
Bio-Techne
TECH
$11.4B
| $99.5M | 0.01% |
+1,691,780
| New | +$103M |
|
|
CADE
761
DELISTED
Cadence Bank
CADE
| $99M | 0.01% |
+2,310,054
| New | +$91.5M |
|
762
Abercrombie & Fitch
ANF
$6.57B
| $99M | 0.01% |
+786,217
| New | +$68.7M |
|
763
eBay
EBAY
$47B
| $98.7M | 0.01% |
+1,133,497
| New | +$98.1M |
|
|
JBTM
764
JBT Marel
JBTM
$6.13B
| $98.4M | 0.01% |
+653,312
| New | +$92.1M |
|
765
CAE Inc
CAE
$7.83B
| $98.4M | 0.01% |
+3,234,907
| New | +$90.7M |
|
766
Federal Signal
FSS
$7.22B
| $98.3M | 0.01% |
+904,842
| New | +$104M |
|
767
Franklin Templeton
BEN
$17.6B
| $98.2M | 0.01% |
+4,109,155
| New | +$94.4M |
|
768
Group 1 Automotive
GPI
$3.17B
| $98.1M | 0.01% |
+249,491
| New | +$102M |
|
769
Commercial Metals
CMC
$7.5B
| $98M | 0.01% |
+1,415,531
| New | +$88.6M |
|
770
Southern Copper
SCCO
$177B
| $97.6M | 0.01% |
+701,560
| New | +$91.8M |
|
771
Pool Corp
POOL
$6.84B
| $97.6M | 0.01% |
+426,717
| New | +$111M |
|
772
MACOM Technology Solutions
MTSI
$20.1B
| $97.4M | 0.01% |
+568,643
| New | +$90.3M |
|
773
Maplebear
CART
$11.8B
| $97.2M | 0.01% |
+2,161,422
| New | +$88.5M |
|
774
A.O. Smith
AOS
$8.21B
| $97.1M | 0.01% |
+1,451,866
| New | +$98.1M |
|
775
Dutch Bros
BROS
$6.91B
| $97M | 0.01% |
+1,583,649
| New | +$90M |
|
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.