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 | |
|---|---|---|---|---|---|---|
1251
Pilgrim's Pride
PPC
$7.41B
| $15.3M | ﹤0.01% |
+391,753
| New | +$15.1M |
|
1252
Mueller Water Products
MWA
$3.86B
| $15.2M | ﹤0.01% |
+637,801
| New | +$15.8M |
|
1253
Hyatt Hotels
H
$16.3B
| $15.1M | ﹤0.01% |
+93,992
| New | +$14.4M |
|
1254
Zillow
Z
$7.97B
| $14.9M | ﹤0.01% |
+217,949
| New | +$15.8M |
|
1255
F&G Annuities & Life
FG
$3.09B
| $14.6M | ﹤0.01% |
+472,211
| New | +$14.8M |
|
1256
AvePoint
AVPT
$3.03B
| $14.6M | ﹤0.01% |
+1,047,900
| New | +$14.5M |
|
1257
Cushman & Wakefield Ltd
CWK
$3.32B
| $14.5M | ﹤0.01% |
+896,332
| New | +$14.2M |
|
1258
Enact Holdings
ACT
$6.74B
| $14.4M | ﹤0.01% |
+364,123
| New | +$13.7M |
|
1259
Autohome
ATHM
$2.6B
| $14.2M | ﹤0.01% |
+636,443
| New | +$15.9M |
|
1260
Concentrix
CNXC
$1.72B
| $14.1M | ﹤0.01% |
+340,074
| New | +$13.8M |
|
1261
Remitly
RELY
$5.5B
| $13.9M | ﹤0.01% |
+1,005,128
| New | +$14.6M |
|
1262
Perimeter Solutions
PRM
$5.24B
| $13.9M | ﹤0.01% |
+503,335
| New | +$12.7M |
|
1263
Sony
SONY
$141B
| $13.8M | ﹤0.01% |
+538,250
| New | +$15.1M |
|
1264
Lucid Motors
LCID
$2.01B
| $13.7M | ﹤0.01% |
+1,294,178
| New | +$20.7M |
|
1265
Alphatec Holdings
ATEC
$1.48B
| $13.7M | ﹤0.01% |
+649,814
| New | +$12M |
|
|
WLTH
1266
Wealthfront Corp
WLTH
$1.41B
| $13.6M | ﹤0.01% |
+1,000,000
| New | +$13.3M |
|
1267
Avista
AVA
$3.16B
| $13.5M | ﹤0.01% |
+351,132
| New | +$13.7M |
|
|
NTSK
1268
Netskope Inc
NTSK
$6.11B
| $13.4M | ﹤0.01% |
+765,000
| New | +$16M |
|
1269
Westlake Corp
WLK
$9.45B
| $13.4M | ﹤0.01% |
+181,328
| New | +$12.9M |
|
1270
MasTec
MTZ
$20.2B
| $13.1M | ﹤0.01% |
+60,481
| New | +$12.7M |
|
1271
Clearway Energy Class C
CWEN
$6.65B
| $13M | ﹤0.01% |
+391,491
| New | +$13M |
|
1272
Reynolds Consumer Products
REYN
$5.1B
| $12.8M | ﹤0.01% |
+558,722
| New | +$13.5M |
|
1273
IPG Photonics
IPGP
$3.29B
| $12.6M | ﹤0.01% |
+176,632
| New | +$14.4M |
|
1274
Brighthouse Financial
BHF
$3.11B
| $12.4M | ﹤0.01% |
+191,000
| New | +$11.2M |
|
1275
Sonos
SONO
$1.79B
| $12.4M | ﹤0.01% |
+703,700
| New | +$12.3M |
|
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.