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 | |
|---|---|---|---|---|---|---|
101
Valero Energy
VLO
$100B
| $1.67B | 0.17% |
+6,402,941
| New | +$1.58B |
|
102
AT&T
T
$175B
| $1.64B | 0.16% |
+79,271,870
| New | +$1.97B |
|
103
Vertiv
VRT
$103B
| $1.63B | 0.16% |
+4,859,284
| New | +$1.54B |
|
104
Scotiabank
BNS
$113B
| $1.6B | 0.16% |
+18,387,259
| New | +$1.45B |
|
105
S&P Global
SPGI
$129B
| $1.57B | 0.16% |
+3,866,831
| New | +$1.63B |
|
106
Invitation Homes
INVH
$17.4B
| $1.56B | 0.16% |
+51,511,025
| New | +$1.46B |
|
107
Bank of Montreal
BMO
$120B
| $1.55B | 0.15% |
+8,796,707
| New | +$1.38B |
|
108
Arthur J. Gallagher & Co
AJG
$66.7B
| $1.55B | 0.15% |
+6,733,790
| New | +$1.43B |
|
109
Stryker
SYK
$125B
| $1.54B | 0.15% |
+4,892,615
| New | +$1.54B |
|
110
Elevance Health
ELV
$86.9B
| $1.53B | 0.15% |
+3,958,856
| New | +$1.47B |
|
111
Applovin
APP
$105B
| $1.51B | 0.15% |
+2,921,649
| New | +$1.41B |
|
112
Pfizer
PFE
$160B
| $1.48B | 0.15% |
+61,505,586
| New | +$1.61B |
|
113
Vertex Pharmaceuticals
VRTX
$139B
| $1.48B | 0.15% |
+2,971,681
| New | +$1.32B |
|
|
AVB
114
DELISTED
AvalonBay Communities
AVB
| $1.45B | 0.14% |
+7,691,120
| New | +$1.39B |
|
115
United Rentals
URI
$64.9B
| $1.44B | 0.14% |
+1,268,942
| New | +$1.21B |
|
116
Trane Technologies
TT
$99.9B
| $1.43B | 0.14% |
+2,916,886
| New | +$1.36B |
|
117
Intuit
INTU
$95B
| $1.4B | 0.14% |
+5,375,785
| New | +$1.87B |
|
118
Quanta Services
PWR
$94.1B
| $1.39B | 0.14% |
+1,930,250
| New | +$1.32B |
|
119
Salesforce
CRM
$206B
| $1.39B | 0.14% |
+8,844,418
| New | +$1.56B |
|
120
Sherwin-Williams
SHW
$84B
| $1.38B | 0.14% |
+4,019,051
| New | +$1.28B |
|
121
Public Storage
PSA
$58.2B
| $1.38B | 0.14% |
+4,341,196
| New | +$1.33B |
|
122
Southern Company
SO
$102B
| $1.37B | 0.14% |
+14,358,862
| New | +$1.35B |
|
123
Air Products & Chemicals
APD
$67.9B
| $1.37B | 0.14% |
+4,672,467
| New | +$1.36B |
|
124
Regency Centers
REG
$13.9B
| $1.37B | 0.14% |
+17,146,561
| New | +$1.35B |
|
125
Extra Space Storage
EXR
$30.2B
| $1.35B | 0.13% |
+9,300,678
| New | +$1.33B |
|
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.