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 | |
|---|---|---|---|---|---|---|
1351
Bread Financial
BFH
$4.15B
| $6.63M | ﹤0.01% |
+89,616
| New | +$5.89M |
|
1352
Cedar Fair
FUN
$1.63B
| $6.43M | ﹤0.01% |
+419,326
| New | +$7.58M |
|
1353
Xeris Biopharma Holdings
XERS
$1.57B
| $6.29M | ﹤0.01% |
+800,700
| New | +$6.3M |
|
1354
Hecla Mining
HL
$14.4B
| $6.27M | ﹤0.01% |
+326,810
| New | +$4.99M |
|
1355
Liberty Global Class C
LBTYK
$3.51B
| $6.23M | ﹤0.01% |
+564,289
| New | +$6.28M |
|
|
ALX
1356
Alexander's
ALX
$1.38B
| $6.21M | ﹤0.01% |
+28,500
| New | +$6.36M |
|
1357
Alarm.com
ALRM
$2.83B
| $6.06M | ﹤0.01% |
+118,819
| New | +$6.06M |
|
1358
Enviri
NVRI
$633M
| $6.05M | ﹤0.01% |
+337,788
| New | +$5.03M |
|
1359
Supernus Pharmaceuticals
SUPN
$2.57B
| $5.98M | ﹤0.01% |
+120,396
| New | +$5.85M |
|
|
NSA
1360
DELISTED
National Storage Affiliates Trust
NSA
| $5.81M | ﹤0.01% |
+206,000
| New | +$6.13M |
|
1361
Extreme Networks
EXTR
$3.03B
| $5.78M | ﹤0.01% |
+347,104
| New | +$6.37M |
|
1362
Paycom
PAYC
$10.7B
| $5.75M | ﹤0.01% |
+36,078
| New | +$6.39M |
|
1363
Organogenesis Holdings
ORGO
$224M
| $5.69M | ﹤0.01% |
+1,097,600
| New | +$5.32M |
|
|
AAMI
1364
Acadian Asset Management
AAMI
$3.45B
| $5.67M | ﹤0.01% |
+120,700
| New | +$5.56M |
|
1365
Atkore
ATKR
$3.16B
| $5.67M | ﹤0.01% |
+89,623
| New | +$5.85M |
|
1366
Ramaco Resources Class A
METC
$882M
| $5.66M | ﹤0.01% |
+314,700
| New | +$8.27M |
|
1367
Park Hotels & Resorts
PK
$3.16B
| $5.61M | ﹤0.01% |
+536,638
| New | +$5.75M |
|
1368
Globant
GLOB
$1.73B
| $5.6M | ﹤0.01% |
+85,693
| New | +$5.39M |
|
1369
WD-40
WDFC
$2.94B
| $5.59M | ﹤0.01% |
+28,400
| New | +$5.6M |
|
|
VISN
1370
Vistance Networks Inc
VISN
$2.68B
| $5.58M | ﹤0.01% |
+308,026
| New | +$5.31M |
|
1371
Columbia Sportswear
COLM
$2.91B
| $5.51M | ﹤0.01% |
+100,084
| New | +$5.35M |
|
1372
M/I Homes
MHO
$3.82B
| $5.47M | ﹤0.01% |
+42,717
| New | +$5.65M |
|
1373
Strategic Education
STRA
$1.9B
| $5.41M | ﹤0.01% |
+67,500
| New | +$5.39M |
|
1374
CRA International
CRAI
$1.08B
| $5.4M | ﹤0.01% |
+26,900
| New | +$5.07M |
|
1375
Genpact
G
$6.31B
| $5.38M | ﹤0.01% |
+115,027
| New | +$4.97M |
|
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.