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 | |
|---|---|---|---|---|---|---|---|
101
Valero Energy
VLO
$125B
| $1.67B | 0.17% |
+6,402,941
| New | +$1.58B |
2013 Q2
52 quarters
|
|
102
AT&T
T
$152B
| $1.64B | 0.16% |
+79,271,870
| New | +$1.97B |
2013 Q2
52 quarters
|
|
103
Vertiv
VRT
$93.5B
| $1.63B | 0.16% |
+4,859,284
| New | +$1.54B |
2021 Q1
21 quarters
|
|
104
Scotiabank
BNS
$108B
| $1.6B | 0.16% |
+18,387,259
| New | +$1.45B |
2013 Q2
52 quarters
|
|
105
S&P Global
SPGI
$120B
| $1.57B | 0.16% |
+3,866,831
| New | +$1.63B |
2016 Q2
40 quarters
|
|
106
Invitation Homes
INVH
$15.8B
| $1.56B | 0.16% |
+51,511,025
| New | +$1.46B |
2017 Q1
37 quarters
|
|
107
Bank of Montreal
BMO
$113B
| $1.55B | 0.15% |
+8,796,707
| New | +$1.38B |
2013 Q2
52 quarters
|
|
108
Arthur J. Gallagher & Co
AJG
$59.7B
| $1.55B | 0.15% |
+6,733,790
| New | +$1.43B |
2013 Q2
52 quarters
|
|
109
Stryker
SYK
$106B
| $1.54B | 0.15% |
+4,892,615
| New | +$1.54B |
2013 Q2
52 quarters
|
|
110
Elevance Health
ELV
$89.5B
| $1.53B | 0.15% |
+3,958,856
| New | +$1.47B |
2013 Q2
52 quarters
|
|
111
Applovin
APP
$92.7B
| $1.51B | 0.15% |
+2,921,649
| New | +$1.41B |
2022 Q1
17 quarters
|
|
112
Pfizer
PFE
$161B
| $1.48B | 0.15% |
+61,505,586
| New | +$1.61B |
2013 Q2
52 quarters
|
|
113
Vertex Pharmaceuticals
VRTX
$129B
| $1.48B | 0.15% |
+2,971,681
| New | +$1.32B |
2013 Q2
52 quarters
|
|
114
DELISTED
AvalonBay Communities
AVB
| $1.45B | 0.14% |
+7,691,120
| New | +$1.39B |
2013 Q2
52 quarters
|
|
115
United Rentals
URI
$65.8B
| $1.44B | 0.14% |
+1,268,942
| New | +$1.21B |
2013 Q2
52 quarters
|
|
116
Trane Technologies
TT
$105B
| $1.43B | 0.14% |
+2,916,886
| New | +$1.36B |
2013 Q2
52 quarters
|
|
117
Intuit
INTU
$80.9B
| $1.4B | 0.14% |
+5,375,785
| New | +$1.87B |
2013 Q2
52 quarters
|
|
118
Quanta Services
PWR
$106B
| $1.39B | 0.14% |
+1,930,250
| New | +$1.32B |
2013 Q2
52 quarters
|
|
119
Salesforce
CRM
$189B
| $1.39B | 0.14% |
+8,844,418
| New | +$1.56B |
2013 Q2
52 quarters
|
|
120
Sherwin-Williams
SHW
$77.5B
| $1.38B | 0.14% |
+4,019,051
| New | +$1.28B |
2013 Q2
52 quarters
|
|
121
Public Storage
PSA
$54.2B
| $1.38B | 0.14% |
+4,341,196
| New | +$1.33B |
2013 Q2
52 quarters
|
|
122
Southern Company
SO
$99.1B
| $1.37B | 0.14% |
+14,358,862
| New | +$1.35B |
2013 Q2
52 quarters
|
|
123
Air Products & Chemicals
APD
$62.6B
| $1.37B | 0.14% |
+4,672,467
| New | +$1.36B |
2013 Q2
52 quarters
|
|
124
Regency Centers
REG
$13.2B
| $1.37B | 0.14% |
+17,146,561
| New | +$1.35B |
2013 Q2
52 quarters
|
|
125
Extra Space Storage
EXR
$28.4B
| $1.35B | 0.13% |
+9,300,678
| New | +$1.33B |
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.