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 | |
|---|---|---|---|---|---|---|
1301
Progyny
PGNY
$1.98B
| $10.2M | ﹤0.01% |
+395,903
| New | +$9.11M |
|
|
TPH
1302
DELISTED
Tri Pointe Homes
TPH
| $10.1M | ﹤0.01% |
+321,254
| New | +$10.4M |
|
1303
Taysha Gene Therapies
TSHA
$1.94B
| $10.1M | ﹤0.01% |
+1,837,800
| New | +$8.92M |
|
1304
Haemonetics
HAE
$4.78B
| $10.1M | ﹤0.01% |
+125,927
| New | +$8.46M |
|
1305
Liberty Live Group Series A
LLYVA
$9.18B
| $10M | ﹤0.01% |
+122,880
| New | +$10.2M |
|
1306
Elastic
ESTC
$8.7B
| $10M | ﹤0.01% |
+132,715
| New | +$10.8M |
|
1307
iRhythm Holdings
IRTC
$3.83B
| $9.98M | ﹤0.01% |
+56,237
| New | +$9.97M |
|
1308
Arrow Electronics
ARW
$10.6B
| $9.96M | ﹤0.01% |
+90,360
| New | +$10.3M |
|
|
JOYY
1309
JOYY Inc
JOYY
$3.66B
| $9.93M | ﹤0.01% |
+153,373
| New | +$9.37M |
|
1310
HEICO Corp
HEI
$47.1B
| $9.88M | ﹤0.01% |
+30,539
| New | +$9.65M |
|
|
BNT
1311
Brookfield Wealth Solutions
BNT
$12.3B
| $9.75M | ﹤0.01% |
+211,689
| New | +$9.65M |
|
|
PLYM
1312
DELISTED
Plymouth Industrial REIT
PLYM
| $9.75M | ﹤0.01% |
+445,400
| New | +$9.79M |
|
1313
Tarsus Pharmaceuticals
TARS
$3.16B
| $9.63M | ﹤0.01% |
+117,592
| New | +$8.78M |
|
1314
ESCO Technologies
ESE
$7.29B
| $9.22M | ﹤0.01% |
+47,202
| New | +$9.95M |
|
1315
Dynatrace
DT
$15.4B
| $9.17M | ﹤0.01% |
+211,583
| New | +$9.86M |
|
|
MOMO
1316
Hello Group
MOMO
$844M
| $9.15M | ﹤0.01% |
+1,396,296
| New | +$9.61M |
|
1317
Alaska Air
ALK
$4.71B
| $9.13M | ﹤0.01% |
+181,416
| New | +$8.39M |
|
1318
GeneDx Holdings
WGS
$2.66B
| $8.84M | ﹤0.01% |
+68,000
| New | +$9.33M |
|
1319
Semtech
SMTC
$13.3B
| $8.79M | ﹤0.01% |
+119,216
| New | +$8.46M |
|
|
AERO
1320
Grupo Aeromexico SAB de CV
AERO
$2.21B
| $8.78M | ﹤0.01% |
+400,000
| New | +$7.66M |
|
1321
UWM Holdings
UWMC
$2.37B
| $8.76M | ﹤0.01% |
+2,000,000
| New | +$10.8M |
|
|
INGM
1322
Ingram Micro Holding
INGM
$6.76B
| $8.54M | ﹤0.01% |
+400,000
| New | +$8.68M |
|
1323
AtriCure
ATRC
$2.51B
| $8.47M | ﹤0.01% |
+214,016
| New | +$7.85M |
|
1324
National Beverage
FIZZ
$3.04B
| $8.35M | ﹤0.01% |
+261,990
| New | +$9.01M |
|
1325
Alpha Metallurgical Resources
AMR
$2.88B
| $8.25M | ﹤0.01% |
+41,298
| New | +$7.14M |
|
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.