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 | |
|---|---|---|---|---|---|---|
826
Denali Therapeutics
DNLI
$3.84B
| $84.5M | 0.01% |
+5,119,622
| New | +$86.4M |
|
827
SiTime
SITM
$16.8B
| $84M | 0.01% |
+237,767
| New | +$74.4M |
|
828
Badger Meter
BMI
$3.93B
| $83.8M | 0.01% |
+480,588
| New | +$86.5M |
|
829
Hanover Insurance
THG
$7.93B
| $83.8M | 0.01% |
+458,591
| New | +$82.5M |
|
830
Fortune Brands Innovations
FBIN
$5.43B
| $83.8M | 0.01% |
+1,675,245
| New | +$84.1M |
|
831
Telus
TU
$15.2B
| $83.7M | 0.01% |
+6,351,036
| New | +$89.4M |
|
832
Brinker International
EAT
$9.87B
| $83.6M | 0.01% |
+582,520
| New | +$76.3M |
|
833
Voya Financial
VOYA
$9.29B
| $83.1M | 0.01% |
+1,115,667
| New | +$81.3M |
|
834
EPR Properties
EPR
$4.56B
| $82.8M | 0.01% |
+1,659,770
| New | +$86.4M |
|
835
Procore
PCOR
$9.68B
| $82.7M | 0.01% |
+1,137,466
| New | +$84.1M |
|
836
MP Materials
MP
$10B
| $82.5M | 0.01% |
+1,633,636
| New | +$104M |
|
837
MGM Resorts International
MGM
$10.6B
| $82.3M | 0.01% |
+2,256,731
| New | +$76.6M |
|
838
Lear
LEA
$8.26B
| $82M | 0.01% |
+715,670
| New | +$76.5M |
|
839
SAP
SAP
$256B
| $81.8M | 0.01% |
+336,683
| New | +$85.8M |
|
|
GAP
840
The Gap Inc
GAP
$8.45B
| $81.7M | 0.01% |
+3,191,024
| New | +$77.3M |
|
841
GitLab
GTLB
$7.58B
| $81.4M | 0.01% |
+2,168,377
| New | +$93.9M |
|
842
Kirby Corp
KEX
$7.34B
| $81.4M | 0.01% |
+738,379
| New | +$75.1M |
|
843
BlackLine
BL
$1.92B
| $80.8M | 0.01% |
+1,461,152
| New | +$80.5M |
|
844
Revvity
RVTY
$14.4B
| $80.4M | 0.01% |
+830,824
| New | +$79.8M |
|
845
GameStop
GME
$8.02B
| $80.2M | 0.01% |
+3,994,957
| New | +$89.6M |
|
846
XP
XP
$8.96B
| $80.2M | 0.01% |
+4,898,974
| New | +$86.2M |
|
847
Lazard
LAZ
$4.25B
| $80.2M | 0.01% |
+1,650,918
| New | +$82.4M |
|
848
Viatris
VTRS
$18.8B
| $80.1M | 0.01% |
+6,432,841
| New | +$69.4M |
|
849
monday.com
MNDY
$4.26B
| $79.8M | 0.01% |
+540,720
| New | +$91.1M |
|
850
Zscaler
ZS
$29.8B
| $79.8M | 0.01% |
+354,626
| New | +$100M |
|
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.