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 | |
|---|---|---|---|---|---|---|---|
1151
Freshpet
FRPT
$3.14B
| $29.4M | ﹤0.01% |
+498,122
| New | +$28.5M |
2020 Q1
25 quarters
|
|
1152
MiniMed Group Inc
MMED
$5.29B
| $29.3M | ﹤0.01% |
+1,961,002
| New | +$25.9M |
2026 Q2
0 quarters
|
|
1153
Triple Flag Precious Metals
TFPM
$6.41B
| $29.1M | ﹤0.01% |
+971,559
| New | +$31.2M |
2022 Q3
15 quarters
|
|
1154
SGHC Ltd
SGHC
$5.7B
| $29M | ﹤0.01% |
+2,139,042
| New | +$27.1M |
2025 Q4
2 quarters
|
|
1155
RadNet
RDNT
$5.63B
| $29M | ﹤0.01% |
+469,820
| New | +$26.4M |
2023 Q2
12 quarters
|
|
1156
Joby Aviation
JOBY
$5.12B
| $29M | ﹤0.01% |
+3,247,472
| New | +$31.4M |
2023 Q4
10 quarters
|
|
1157
The Marzetti Company
MZTI
$2.76B
| $28.9M | ﹤0.01% |
+253,300
| New | +$30.5M |
2026 Q2
0 quarters
|
|
1158
Conagra Brands
CAG
$6.53B
| $28.9M | ﹤0.01% |
+2,147,754
| New | +$30M |
2013 Q2
52 quarters
|
|
1159
Liftoff Mobile
LFTO
$2.69B
| $28.8M | ﹤0.01% |
+1,200,000
| New | +$31.1M |
2026 Q2
0 quarters
|
|
1160
Clearway Energy Class C
CWEN
$3.69B
| $28.6M | ﹤0.01% |
+835,381
| New | +$32.4M |
2016 Q2
40 quarters
|
|
1161
Starwood Property Trust
STWD
$4.63B
| $28.5M | ﹤0.01% |
+1,742,303
| New | +$30.3M |
2013 Q2
52 quarters
|
|
1162
Applied Aerospace & Defense Inc
AADX
$1.86B
| $28.5M | ﹤0.01% |
+1,250,000
| New | +$24.5M |
2026 Q2
0 quarters
|
|
1163
Moelis & Co
MC
$4.27B
| $28.3M | ﹤0.01% |
+433,073
| New | +$28.4M |
2018 Q1
33 quarters
|
|
1164
BancFirst
BANF
$3.6B
| $28.3M | ﹤0.01% |
+254,828
| New | +$28.5M |
2013 Q2
52 quarters
|
|
1165
Aura Minerals Inc
AUGO
$7.7B
| $28.2M | ﹤0.01% |
+448,099
| New | +$35.3M |
2025 Q4
2 quarters
|
|
1166
Madison Square Garden
MSGE
$3.77B
| $28M | ﹤0.01% |
+346,600
| New | +$23.6M |
2023 Q2
12 quarters
|
|
1167
Campbell Soup
CPB
$5.69B
| $27.6M | ﹤0.01% |
+1,239,949
| New | +$26.2M |
2013 Q2
52 quarters
|
|
1168
Klarna Group
KLAR
$5.26B
| $27.2M | ﹤0.01% |
+1,342,802
| New | +$21.1M |
2025 Q4
2 quarters
|
|
1169
NovaGold Resources
NG
$2.95B
| $27M | ﹤0.01% |
+4,522,628
| New | +$37.6M |
2026 Q2
0 quarters
|
|
1170
Cohen & Steers
CNS
$3.55B
| $26.9M | ﹤0.01% |
+353,653
| New | +$25M |
2013 Q2
52 quarters
|
|
1171
South Bow Corp
SOBO
$6.99B
| $26.7M | ﹤0.01% |
+759,445
| New | +$26.7M |
2024 Q4
6 quarters
|
|
1172
Impinj
PI
$5.81B
| $26.7M | ﹤0.01% |
+186,182
| New | +$24.3M |
2024 Q3
7 quarters
|
|
|
MRX
1173
Marex Group Limited Ordinary Shares
MRX
$5.2B
| $26.2M | ﹤0.01% |
+429,800
| New | +$23.7M |
2026 Q2
0 quarters
|
|
1174
Howard Hughes
HHH
$4.32B
| $26.1M | ﹤0.01% |
+365,617
| New | +$23.8M |
2013 Q2
52 quarters
|
|
1175
Upstream Bio Inc
UPB
$228M
| $26.1M | ﹤0.01% |
+3,768,619
| New | +$31.6M |
2024 Q4
6 quarters
|
|
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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.