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 | |
|---|---|---|---|---|---|---|---|
901
Novanta
NOVT
$5.48B
| $71.6M | 0.01% |
+441,388
| New | +$63.8M |
2018 Q1
33 quarters
|
|
902
Granite Construction
GVA
$5B
| $70.9M | 0.01% |
+448,793
| New | +$61M |
2013 Q2
52 quarters
|
|
903
Waters Corp
WAT
$42.5B
| $70.6M | 0.01% |
+188,334
| New | +$64.2M |
2013 Q2
52 quarters
|
|
904
New Jersey Resources
NJR
$5.26B
| $70.1M | 0.01% |
+1,251,671
| New | +$70M |
2013 Q2
52 quarters
|
|
905
Glaukos
GKOS
$9.91B
| $69.7M | 0.01% |
+498,502
| New | +$63.1M |
2018 Q3
31 quarters
|
|
906
Balchem Corp
BCPC
$5.36B
| $69.6M | 0.01% |
+411,876
| New | +$68.4M |
2013 Q2
52 quarters
|
|
907
DELISTED
Nuvalent
NUVL
| $69.2M | 0.01% |
+560,041
| New | +$60.2M |
2024 Q1
9 quarters
|
|
908
Telus
TU
$12.3B
| $69.1M | 0.01% |
+6,544,651
| New | +$79.8M |
2015 Q1
45 quarters
|
|
909
Independence Realty Trust
IRT
$3.49B
| $69M | 0.01% |
+4,134,326
| New | +$66.9M |
2022 Q1
17 quarters
|
|
910
Madison Square Garden
MSGS
$9.71B
| $68.9M | 0.01% |
+171,392
| New | +$60.7M |
2015 Q4
42 quarters
|
|
911
GitLab
GTLB
$9.33B
| $68.8M | 0.01% |
+2,253,628
| New | +$57.2M |
2021 Q4
18 quarters
|
|
912
Phillips Edison & Co
PECO
$4.87B
| $68.8M | 0.01% |
+1,652,337
| New | +$66M |
2021 Q3
19 quarters
|
|
913
Sonoco
SON
$4.75B
| $68.7M | 0.01% |
+1,218,953
| New | +$62.5M |
2013 Q2
52 quarters
|
|
914
VNET Group
VNET
$1.51B
| $68.6M | 0.01% |
+8,527,387
| New | +$77.4M |
2017 Q4
34 quarters
|
|
915
Axalta
AXTA
$7.08B
| $68.3M | 0.01% |
+1,995,329
| New | +$60M |
2015 Q2
44 quarters
|
|
916
Hannon Armstrong Sustainable Infrastructure Capital
HASI
$4.7B
| $67.8M | 0.01% |
+1,736,932
| New | +$69.4M |
2018 Q2
32 quarters
|
|
917
ONE Gas
OGS
$4.63B
| $67.8M | 0.01% |
+879,121
| New | +$73.1M |
2014 Q1
49 quarters
|
|
918
Delta Air Lines
DAL
$52.7B
| $67M | 0.01% |
+715,051
| New | +$54M |
2013 Q2
52 quarters
|
|
919
Haleon
HLN
$41.8B
| $66.9M | 0.01% |
+7,175,000
| New | +$66.7M |
2025 Q2
4 quarters
|
|
920
Brookfield Renewable
BEPC
$5.44B
| $66.8M | 0.01% |
+1,800,168
| New | +$69.7M |
2020 Q3
23 quarters
|
|
921
ESAB
ESAB
$4.13B
| $66.8M | 0.01% |
+677,260
| New | +$65.4M |
2024 Q4
6 quarters
|
|
922
Macerich
MAC
$6.39B
| $66.5M | 0.01% |
+2,641,293
| New | +$59.4M |
2013 Q2
52 quarters
|
|
923
Aaon
AAON
$6.99B
| $66.3M | 0.01% |
+522,529
| New | +$61.2M |
2013 Q2
52 quarters
|
|
924
Construction Partners
ROAD
$4.89B
| $66.2M | 0.01% |
+557,389
| New | +$66.1M |
2026 Q2
0 quarters
|
|
925
Abercrombie & Fitch
ANF
$6.19B
| $66.1M | 0.01% |
+734,542
| New | +$62.3M |
2018 Q1
33 quarters
|
|
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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.