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 | |
|---|---|---|---|---|---|---|---|
1101
Champion Homes
SKY
$4.26B
| $35.9M | ﹤0.01% |
+407,345
| New | +$31.2M |
2021 Q3
19 quarters
|
|
1102
Penske Automotive Group
PAG
$12.8B
| $35.9M | ﹤0.01% |
+200,575
| New | +$33.5M |
2013 Q2
52 quarters
|
|
1103
U-Haul Holding Co
UHAL
$10.9B
| $35.8M | ﹤0.01% |
+546,476
| New | +$30M |
2013 Q2
52 quarters
|
|
1104
ServiceTitan Inc
TTAN
$6.97B
| $35.7M | ﹤0.01% |
+504,523
| New | +$32.5M |
2024 Q4
6 quarters
|
|
1105
Omnicom Group
OMC
$21.1B
| $35.6M | ﹤0.01% |
+488,460
| New | +$36.8M |
2013 Q2
52 quarters
|
|
1106
Zeta Global
ZETA
$8.41B
| $35.5M | ﹤0.01% |
+1,803,608
| New | +$33.5M |
2024 Q3
7 quarters
|
|
1107
Boyd Gaming
BYD
$5.04B
| $35.5M | ﹤0.01% |
+401,479
| New | +$34.2M |
2013 Q2
52 quarters
|
|
1108
Generate Biomedicines
GENB
$1.78B
| $35.3M | ﹤0.01% |
+2,094,616
| New | +$28.5M |
2026 Q2
0 quarters
|
|
1109
CarMax
KMX
$7.2B
| $35.2M | ﹤0.01% |
+665,737
| New | +$29M |
2013 Q2
52 quarters
|
|
1110
BHP
BHP
$220B
| $35.1M | ﹤0.01% |
+421,334
| New | +$35M |
2013 Q2
52 quarters
|
|
1111
Option Care Health
OPCH
$4.66B
| $35.1M | ﹤0.01% |
+1,673,104
| New | +$38.9M |
2021 Q1
21 quarters
|
|
1112
Enlight Renewable Energy
ENLT
$9.61B
| $34.7M | ﹤0.01% |
+393,418
| New | +$34.7M |
2023 Q1
13 quarters
|
|
1113
Boyd Group Services
BGSI
$2.18B
| $34.6M | ﹤0.01% |
+365,811
| New | +$40.2M |
2025 Q4
2 quarters
|
|
1114
Brown-Forman Class B
BF.B
$12.3B
| $34.5M | ﹤0.01% |
+1,293,650
| New | +$34.9M |
2013 Q2
52 quarters
|
|
1115
Skeena Resources
SKE
$4B
| $34.4M | ﹤0.01% |
+1,292,654
| New | +$38.8M |
2026 Q2
0 quarters
|
|
1116
Ollie's Bargain Outlet
OLLI
$5.13B
| $34.4M | ﹤0.01% |
+447,387
| New | +$37.3M |
2017 Q1
37 quarters
|
|
1117
Urban Outfitters
URBN
$7.08B
| $34.4M | ﹤0.01% |
+484,761
| New | +$34.5M |
2013 Q2
52 quarters
|
|
1118
Honeywell
HON
$66.4B
| $34.2M | ﹤0.01% |
+152,606
| New | +$34M |
2026 Q2
0 quarters
|
|
1119
Bright Horizons
BFAM
$3.4B
| $34.1M | ﹤0.01% |
+481,523
| New | +$34.8M |
2014 Q2
48 quarters
|
|
1120
Fortuna Silver Mines
FSM
$3.18B
| $34.1M | ﹤0.01% |
+4,040,366
| New | +$39.2M |
2026 Q2
0 quarters
|
|
1121
Allegiant Air
ALGT
$2.04B
| $33.9M | ﹤0.01% |
+287,999
| New | +$24.9M |
2026 Q2
0 quarters
|
|
1122
Ero Copper
ERO
$3.91B
| $33.8M | ﹤0.01% |
+1,265,648
| New | +$35.8M |
2026 Q2
0 quarters
|
|
1123
COPT Defense Properties
CDP
$3.81B
| $33.6M | ﹤0.01% |
+922,648
| New | +$30M |
2013 Q2
52 quarters
|
|
1124
ASML
ASML
$672B
| $33.6M | ﹤0.01% |
+16,869
| New | +$26.9M |
2026 Q2
0 quarters
|
|
1125
Shift4
FOUR
$3.15B
| $33.4M | ﹤0.01% |
+687,363
| New | +$29.7M |
2025 Q4
2 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.