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 | |
|---|---|---|---|---|---|---|
876
Lattice Semiconductor
LSCC
$16.2B
| $73.8M | 0.01% |
+1,003,344
| New | +$71.4M |
|
|
OKLO
877
Oklo
OKLO
$7.47B
| $73.8M | 0.01% |
+1,028,227
| New | +$115M |
|
878
Rexford Industrial Realty
REXR
$8.28B
| $73.8M | 0.01% |
+1,905,402
| New | +$78.6M |
|
879
Littelfuse
LFUS
$10.3B
| $73.6M | 0.01% |
+290,904
| New | +$74.1M |
|
880
Ralph Lauren
RL
$21.1B
| $73.5M | 0.01% |
+207,887
| New | +$70.9M |
|
881
Avantor
AVTR
$9.86B
| $73.3M | 0.01% |
+6,398,087
| New | +$78.8M |
|
882
Cognex
CGNX
$10.2B
| $73.1M | 0.01% |
+2,031,768
| New | +$82.2M |
|
883
Stride
LRN
$3.61B
| $72.9M | 0.01% |
+1,122,305
| New | +$102M |
|
884
UL Solutions
ULS
$15B
| $72.7M | 0.01% |
+922,133
| New | +$74M |
|
885
Old National Bancorp
ONB
$9.89B
| $72.7M | 0.01% |
+3,256,872
| New | +$70.2M |
|
886
NexGen Energy
NXE
$6.97B
| $72.3M | 0.01% |
+7,857,282
| New | +$69.4M |
|
887
KBR
KBR
$4.79B
| $71.8M | 0.01% |
+1,785,688
| New | +$76.6M |
|
888
Valley National Bancorp
VLY
$7.69B
| $71.6M | 0.01% |
+6,126,225
| New | +$68M |
|
889
Brookfield Infrastructure
BIPC
$4.75B
| $71M | 0.01% |
+1,564,212
| New | +$70.8M |
|
890
Phillips Edison & Co
PECO
$5.03B
| $70.8M | 0.01% |
+1,991,837
| New | +$69.1M |
|
891
Illumina
ILMN
$32.6B
| $70.8M | 0.01% |
+540,134
| New | +$63.4M |
|
892
ONE Gas
OGS
$5B
| $70.8M | 0.01% |
+916,079
| New | +$73.6M |
|
893
Krystal Biotech
KRYS
$10.4B
| $70.2M | 0.01% |
+284,573
| New | +$59.9M |
|
894
Amer Sports
AS
$18.1B
| $70.1M | 0.01% |
+1,875,640
| New | +$64.4M |
|
895
Dropbox
DBX
$7.76B
| $69.9M | 0.01% |
+2,514,706
| New | +$73.2M |
|
896
Cirrus Logic
CRUS
$5.44B
| $69.7M | 0.01% |
+587,966
| New | +$72.4M |
|
897
H&R Block
HRB
$6.47B
| $69.4M | 0.01% |
+1,593,419
| New | +$74.5M |
|
898
AutoNation
AN
$6.62B
| $69.3M | 0.01% |
+335,717
| New | +$69.8M |
|
899
SLM Corp
SLM
$4.97B
| $68.8M | 0.01% |
+2,544,005
| New | +$69.8M |
|
900
Bentley Systems
BSY
$11.3B
| $68.8M | 0.01% |
+1,801,802
| New | +$82.1M |
|
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.