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 | |
|---|---|---|---|---|---|---|---|
1026
TransAlta
TAC
$4.11B
| $49.5M | ﹤0.01% |
+3,581,371
| New | +$47.3M |
2025 Q4
2 quarters
|
|
1027
Paylocity
PCTY
$8.28B
| $49.4M | ﹤0.01% |
+472,273
| New | +$50.3M |
2018 Q1
33 quarters
|
|
1028
Merit Medical Systems
MMSI
$5.36B
| $49.3M | ﹤0.01% |
+711,160
| New | +$46.9M |
2013 Q2
52 quarters
|
|
1029
Stride
LRN
$3.51B
| $49.3M | ﹤0.01% |
+571,610
| New | +$52.5M |
2022 Q4
14 quarters
|
|
1030
Maplebear
CART
$11.4B
| $49M | ﹤0.01% |
+1,035,821
| New | +$43.3M |
2023 Q3
11 quarters
|
|
1031
WSFS Financial
WSFS
$3.88B
| $49M | ﹤0.01% |
+638,922
| New | +$45.8M |
2017 Q2
36 quarters
|
|
1032
RLI Corp
RLI
$5.2B
| $48.9M | ﹤0.01% |
+827,253
| New | +$44.4M |
2013 Q2
52 quarters
|
|
1033
Tencent Music
TME
$13.8B
| $48.7M | ﹤0.01% |
+5,837,956
| New | +$53.3M |
2018 Q4
30 quarters
|
|
1034
Nexstar Media Group
NXST
$4.95B
| $48.4M | ﹤0.01% |
+271,005
| New | +$50.7M |
2014 Q2
48 quarters
|
|
1035
First Financial Bankshares
FFIN
$4.41B
| $48.4M | ﹤0.01% |
+1,397,818
| New | +$45.2M |
2013 Q2
52 quarters
|
|
1036
HealthEquity
HQY
$7.61B
| $48.2M | ﹤0.01% |
+533,946
| New | +$45.3M |
2015 Q3
43 quarters
|
|
1037
Factset
FDS
$10.3B
| $47.9M | ﹤0.01% |
+208,310
| New | +$47.8M |
2013 Q2
52 quarters
|
|
1038
Almonty Industries
ALM
$3.2B
| $47.9M | ﹤0.01% |
+2,894,766
| New | +$55.2M |
2026 Q2
0 quarters
|
|
1039
Pattern Group Inc
PTRN
$3.08B
| $47.4M | ﹤0.01% |
+1,882,887
| New | +$32M |
2025 Q4
2 quarters
|
|
1040
MSC Industrial Direct
MSM
$7.19B
| $47.3M | ﹤0.01% |
+398,005
| New | +$42.3M |
2013 Q2
52 quarters
|
|
1041
PayPay
PAYP
$10.5B
| $47.3M | ﹤0.01% |
+3,300,000
| New | +$60.7M |
2026 Q2
0 quarters
|
|
1042
Energy Fuels
UUUU
$2.56B
| $47.3M | ﹤0.01% |
+3,256,725
| New | +$59.8M |
2026 Q2
0 quarters
|
|
1043
Kontoor Brands
KTB
$3.61B
| $46.9M | ﹤0.01% |
+563,343
| New | +$41.1M |
2019 Q2
28 quarters
|
|
1044
Trade Desk
TTD
$5.65B
| $46.8M | ﹤0.01% |
+2,590,924
| New | +$55M |
2018 Q3
31 quarters
|
|
1045
Belden
BDC
$4.11B
| $46.7M | ﹤0.01% |
+389,743
| New | +$45.4M |
2013 Q2
52 quarters
|
|
1046
Broadstone Net Lease
BNL
$3.54B
| $46.6M | ﹤0.01% |
+2,254,795
| New | +$45.5M |
2020 Q3
23 quarters
|
|
1047
H&R Block
HRB
$5.43B
| $46.4M | ﹤0.01% |
+1,219,451
| New | +$42.5M |
2013 Q2
52 quarters
|
|
1048
MakeMyTrip
MMYT
$4.17B
| $46.4M | ﹤0.01% |
+870,819
| New | +$39.6M |
2024 Q1
9 quarters
|
|
1049
Texas Capital Bancshares
TCBI
$3.89B
| $46.4M | ﹤0.01% |
+448,983
| New | +$45M |
2013 Q2
52 quarters
|
|
1050
Graphic Packaging
GPK
$2.44B
| $46.3M | ﹤0.01% |
+4,380,131
| New | +$44.7M |
2013 Q2
52 quarters
|
|
Similar funds
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.