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 | |
|---|---|---|---|---|---|---|
926
Hubbell
HUBB
$24.4B
| $64.8M | 0.01% |
+145,898
| New | +$63.9M |
|
927
NewMarket
NEU
$8.46B
| $64.7M | 0.01% |
+94,075
| New | +$71.8M |
|
|
BCPC
928
Balchem Corp
BCPC
$5.68B
| $64.2M | 0.01% |
+418,438
| New | +$63.9M |
|
929
Itron
ITRI
$4.28B
| $64M | 0.01% |
+689,097
| New | +$75.1M |
|
930
FNB Corp
FNB
$6.59B
| $64M | 0.01% |
+3,741,268
| New | +$61.1M |
|
931
Meritage Homes
MTH
$4.62B
| $63.1M | 0.01% |
+958,249
| New | +$66.4M |
|
932
Sensata Technologies
ST
$5.99B
| $63M | 0.01% |
+1,891,445
| New | +$60.5M |
|
933
Trex
TREX
$4.66B
| $62.9M | 0.01% |
+1,793,154
| New | +$72.5M |
|
934
McCormick & Company Non-Voting
MKC
$14.9B
| $62.7M | 0.01% |
+920,735
| New | +$61.2M |
|
935
Ameris Bancorp
ABCB
$5.75B
| $62.7M | 0.01% |
+843,858
| New | +$62.8M |
|
936
Avnet
AVT
$7.3B
| $62.4M | 0.01% |
+1,297,691
| New | +$63.8M |
|
937
Morningstar
MORN
$8.22B
| $62.4M | 0.01% |
+286,994
| New | +$62.2M |
|
938
Sunrun
RUN
$2.13B
| $62.2M | 0.01% |
+3,378,770
| New | +$64.8M |
|
939
Travel + Leisure Co
TNL
$4.4B
| $62.2M | 0.01% |
+881,359
| New | +$57.7M |
|
940
Healthcare Realty
HR
$6.52B
| $62.2M | 0.01% |
+3,666,912
| New | +$65.2M |
|
941
Hims & Hers Health
HIMS
$6.67B
| $62.2M | 0.01% |
+1,914,177
| New | +$82M |
|
942
Grand Canyon Education
LOPE
$3.94B
| $61.9M | 0.01% |
+372,308
| New | +$67.3M |
|
943
Kite Realty
KRG
$5.22B
| $61.9M | 0.01% |
+2,580,852
| New | +$58.6M |
|
944
Option Care Health
OPCH
$3.59B
| $61.8M | 0.01% |
+1,939,322
| New | +$56.9M |
|
945
Liberty Live Group Series C
LLYVK
$9.51B
| $61.5M | 0.01% |
+740,086
| New | +$63.6M |
|
946
Weatherford International
WFRD
$6.64B
| $61.4M | 0.01% |
+784,551
| New | +$56.9M |
|
947
FTI Consulting
FCN
$4.23B
| $61.1M | 0.01% |
+357,883
| New | +$59M |
|
948
Brink's
BCO
$4.55B
| $61.1M | 0.01% |
+523,476
| New | +$59.9M |
|
|
CRCL
949
Circle Internet Group
CRCL
$22.3B
| $60.7M | 0.01% |
+765,502
| New | +$79.1M |
|
950
Ryan Specialty Holdings
RYAN
$11.2B
| $60.5M | 0.01% |
+1,172,693
| New | +$64.3M |
|
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.