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 | |
|---|---|---|---|---|---|---|
901
Hamilton Lane
HLNE
$4.6B
| $68.7M | 0.01% |
+511,184
| New | +$64.3M |
|
902
Verra Mobility
VRRM
$667M
| $68.6M | 0.01% |
+3,061,477
| New | +$69.9M |
|
903
Generac Holdings
GNRC
$10.8B
| $68.6M | 0.01% |
+502,969
| New | +$81.2M |
|
904
Vontier
VNT
$4.43B
| $68.5M | 0.01% |
+1,843,092
| New | +$70.5M |
|
905
Essential Properties Realty Trust
EPRT
$6.57B
| $68.5M | 0.01% |
+2,308,394
| New | +$70.4M |
|
906
United Bankshares
UBSI
$6.48B
| $68.4M | 0.01% |
+1,780,352
| New | +$66.3M |
|
907
WIX.com
WIX
$3.67B
| $68.3M | 0.01% |
+657,363
| New | +$79.5M |
|
908
Arcosa
ACA
$7.13B
| $68.2M | 0.01% |
+641,695
| New | +$64.8M |
|
909
Brookfield Renewable
BEPC
$5.99B
| $68.1M | 0.01% |
+1,776,754
| New | +$71.5M |
|
910
Alcoa
AA
$13.3B
| $67.6M | 0.01% |
+1,271,781
| New | +$52M |
|
911
Glacier Bancorp
GBCI
$6.1B
| $67.6M | 0.01% |
+1,534,204
| New | +$67.3M |
|
912
Crocs
CROX
$5.86B
| $67.5M | 0.01% |
+789,817
| New | +$66.1M |
|
913
Algonquin Power & Utilities
AQN
$4.36B
| $67.1M | 0.01% |
+10,906,124
| New | +$64.8M |
|
914
Antero Midstream
AM
$10.6B
| $67M | 0.01% |
+3,766,025
| New | +$67.9M |
|
915
RLI Corp
RLI
$5.9B
| $67M | 0.01% |
+1,047,153
| New | +$65.8M |
|
916
Southwest Gas
SWX
$6.45B
| $66.9M | 0.01% |
+836,418
| New | +$67M |
|
917
HealthEquity
HQY
$7.97B
| $66.9M | 0.01% |
+730,567
| New | +$69.9M |
|
918
Macerich
MAC
$6.73B
| $66.9M | 0.01% |
+3,625,338
| New | +$63.9M |
|
919
White Mountains Insurance
WTM
$5.1B
| $66.9M | 0.01% |
+32,184
| New | +$62.9M |
|
920
Mine Safety
MSA
$7.34B
| $66.9M | 0.01% |
+417,620
| New | +$68M |
|
921
Home BancShares
HOMB
$5.93B
| $66.7M | 0.01% |
+2,400,030
| New | +$66.6M |
|
|
AMTM
922
Amentum Holdings
AMTM
$4.97B
| $66.5M | 0.01% |
+2,294,097
| New | +$58.6M |
|
923
Teleflex
TFX
$5.92B
| $66.1M | 0.01% |
+541,430
| New | +$65.6M |
|
|
VNET
924
VNET Group
VNET
$1.86B
| $65.6M | 0.01% |
+7,760,035
| New | +$71.9M |
|
925
Selective Insurance
SIGI
$5.51B
| $65.6M | 0.01% |
+784,336
| New | +$62.9M |
|
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.