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 | |
|---|---|---|---|---|---|---|
1101
WSFS Financial
WSFS
$4B
| $39.2M | ﹤0.01% |
+709,500
| New | +$38.8M |
|
1102
Community Bank
CBU
$3.33B
| $39M | ﹤0.01% |
+678,844
| New | +$39M |
|
1103
e.l.f. Beauty
ELF
$6.17B
| $38.9M | ﹤0.01% |
+511,501
| New | +$50.3M |
|
1104
Rigetti Computing
RGTI
$5.27B
| $38.9M | ﹤0.01% |
+1,755,700
| New | +$57.2M |
|
|
FIG
1105
Figma
FIG
$16.1B
| $38.8M | ﹤0.01% |
+1,037,200
| New | +$46.9M |
|
1106
Allegro MicroSystems
ALGM
$6.83B
| $38.5M | ﹤0.01% |
+1,457,805
| New | +$40.1M |
|
1107
Blackstone Mortgage Trust
BXMT
$2.33B
| $38.2M | ﹤0.01% |
+1,998,880
| New | +$37.9M |
|
1108
First Interstate BancSystem
FIBK
$3.57B
| $38M | ﹤0.01% |
+1,099,110
| New | +$36M |
|
1109
Prosperity Bancshares
PB
$8.74B
| $37.6M | ﹤0.01% |
+544,708
| New | +$36.8M |
|
1110
Leonardo DRS
DRS
$10.4B
| $37.5M | ﹤0.01% |
+1,099,462
| New | +$40.6M |
|
1111
Freshpet
FRPT
$3.45B
| $37M | ﹤0.01% |
+607,990
| New | +$34.5M |
|
1112
Prestige Consumer Healthcare
PBH
$2.46B
| $37M | ﹤0.01% |
+599,024
| New | +$36.7M |
|
1113
Pentair
PNR
$9.79B
| $36.8M | ﹤0.01% |
+353,355
| New | +$37.7M |
|
1114
Dillards
DDS
$9.89B
| $36.6M | ﹤0.01% |
+60,359
| New | +$38M |
|
1115
Granite Construction
GVA
$5.53B
| $36.4M | ﹤0.01% |
+315,601
| New | +$33.9M |
|
1116
Insight Enterprises
NSIT
$4.59B
| $36.2M | ﹤0.01% |
+444,446
| New | +$41.7M |
|
1117
G-III Apparel Group
GIII
$1.42B
| $36.2M | ﹤0.01% |
+1,250,000
| New | +$35.7M |
|
1118
Kontoor Brands
KTB
$4.22B
| $36.2M | ﹤0.01% |
+592,317
| New | +$44M |
|
1119
Sportradar
SRAD
$3.83B
| $35.9M | ﹤0.01% |
+1,508,884
| New | +$36.3M |
|
1120
SharkNinja
SN
$27.2B
| $35.7M | ﹤0.01% |
+319,088
| New | +$31.4M |
|
1121
Warner Music
WMG
$14.7B
| $35.4M | ﹤0.01% |
+1,155,828
| New | +$35.3M |
|
1122
Landstar System
LSTR
$6.15B
| $35.3M | ﹤0.01% |
+245,512
| New | +$32.7M |
|
1123
Methanex
MEOH
$4.47B
| $34.9M | ﹤0.01% |
+879,178
| New | +$32.7M |
|
1124
Birkenstock
BIRK
$5.97B
| $34.8M | ﹤0.01% |
+851,205
| New | +$36M |
|
|
ORLA
1125
DELISTED
Orla Mining
ORLA
| $34.8M | ﹤0.01% |
+2,584,183
| New | +$31.4M |
|
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.