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 | |
|---|---|---|---|---|---|---|
1326
Stevanato
STVN
$6.09B
| $8.18M | ﹤0.01% |
+406,803
| New | +$9.45M |
|
1327
Camtek
CAMT
$6.76B
| $8.18M | ﹤0.01% |
+76,128
| New | +$8.55M |
|
1328
Lufax Holding
LU
$1.1B
| $8.07M | ﹤0.01% |
+3,151,227
| New | +$9.31M |
|
|
FLY
1329
Firefly Aerospace
FLY
$3.71B
| $8.05M | ﹤0.01% |
+360,000
| New | +$8.33M |
|
1330
Infosys
INFY
$48.2B
| $8.01M | ﹤0.01% |
+449,627
| New | +$7.78M |
|
1331
Sarepta Therapeutics
SRPT
$2.28B
| $7.98M | ﹤0.01% |
+370,701
| New | +$7.81M |
|
1332
Primerica
PRI
$8.97B
| $7.82M | ﹤0.01% |
+30,287
| New | +$7.9M |
|
1333
Banco Bilbao Vizcaya Argentaria
BBVA
$158B
| $7.69M | ﹤0.01% |
+330,000
| New | +$6.89M |
|
|
OPTU
1334
Optimum Communications Inc
OPTU
$389M
| $7.63M | ﹤0.01% |
+4,623,111
| New | +$9.41M |
|
1335
Brown-Forman Class A
BF.A
$12.7B
| $7.6M | ﹤0.01% |
+288,879
| New | +$8.06M |
|
1336
Applied Digital
APLD
$7.8B
| $7.47M | ﹤0.01% |
+304,700
| New | +$8.78M |
|
1337
PENN Entertainment
PENN
$2.33B
| $7.41M | ﹤0.01% |
+502,376
| New | +$7.84M |
|
1338
MYR Group
MYRG
$4.82B
| $7.38M | ﹤0.01% |
+33,759
| New | +$7.35M |
|
1339
Sable Offshore Corp
SOC
$894M
| $7.27M | ﹤0.01% |
+806,300
| New | +$7.61M |
|
|
EH
1340
EHang Holdings
EH
$353M
| $7.13M | ﹤0.01% |
+541,048
| New | +$8.54M |
|
1341
Rhythm Pharmaceuticals
RYTM
$7.75B
| $7.09M | ﹤0.01% |
+66,213
| New | +$7.02M |
|
1342
Relay Therapeutics
RLAY
$4.26B
| $7.08M | ﹤0.01% |
+837,417
| New | +$5.98M |
|
1343
Axcelis
ACLS
$3.78B
| $7.08M | ﹤0.01% |
+88,147
| New | +$7.38M |
|
1344
Vishay Intertechnology
VSH
$4.87B
| $7.07M | ﹤0.01% |
+487,705
| New | +$7.39M |
|
|
AUGO
1345
Aura Minerals Inc
AUGO
$7.47B
| $6.96M | ﹤0.01% |
+138,145
| New | +$5.43M |
|
1346
Yeti Holdings
YETI
$3.05B
| $6.88M | ﹤0.01% |
+155,811
| New | +$5.99M |
|
|
SMLR
1347
DELISTED
Semler Scientific
SMLR
| $6.8M | ﹤0.01% |
+445,000
| New | +$10.1M |
|
1348
Vestis
VSTS
$1.69B
| $6.75M | ﹤0.01% |
+1,011,644
| New | +$5.9M |
|
1349
Newell Brands
NWL
$2.5B
| $6.7M | ﹤0.01% |
+1,800,000
| New | +$7.27M |
|
1350
Acushnet Holdings
GOLF
$4.96B
| $6.67M | ﹤0.01% |
+83,513
| New | +$6.78M |
|
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.