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 | |
|---|---|---|---|---|---|---|
1376
Green Brick Partners
GRBK
$3.13B
| $5.35M | ﹤0.01% |
+85,408
| New | +$5.63M |
|
|
TWO
1377
DELISTED
Two Harbors Investment
TWO
| $5.25M | ﹤0.01% |
+500,000
| New | +$5M |
|
1378
TFS Financial
TFSL
$5.02B
| $5.25M | ﹤0.01% |
+392,257
| New | +$5.37M |
|
1379
Madison Square Garden
MSGE
$3.7B
| $5.23M | ﹤0.01% |
+97,100
| New | +$4.67M |
|
1380
GlobalFoundries
GFS
$25.4B
| $5.22M | ﹤0.01% |
+149,616
| New | +$5.32M |
|
|
HNGE
1381
Hinge Health
HNGE
$7.49B
| $5.21M | ﹤0.01% |
+112,226
| New | +$5.41M |
|
1382
Collegium Pharmaceutical
COLL
$820M
| $5.21M | ﹤0.01% |
+112,500
| New | +$4.71M |
|
1383
Alignment Healthcare
ALHC
$2.81B
| $5.14M | ﹤0.01% |
+260,408
| New | +$4.68M |
|
1384
New York Times
NYT
$11B
| $5.14M | ﹤0.01% |
+74,071
| New | +$4.59M |
|
1385
Arcutis Biotherapeutics
ARQT
$3.13B
| $5.08M | ﹤0.01% |
+174,820
| New | +$4.48M |
|
1386
Doximity
DOCS
$4.56B
| $5.06M | ﹤0.01% |
+114,272
| New | +$6.41M |
|
|
AAT
1387
American Assets Trust
AAT
$1.38B
| $4.88M | ﹤0.01% |
+257,700
| New | +$4.97M |
|
1388
Patrick Industries
PATK
$2.67B
| $4.87M | ﹤0.01% |
+44,908
| New | +$4.71M |
|
1389
C3.ai
AI
$1.61B
| $4.8M | ﹤0.01% |
+356,201
| New | +$5.68M |
|
1390
Worthington Enterprises
WOR
$2.83B
| $4.75M | ﹤0.01% |
+92,200
| New | +$5.09M |
|
1391
Root
ROOT
$853M
| $4.7M | ﹤0.01% |
+65,022
| New | +$5.18M |
|
1392
TeraWulf
WULF
$8.23B
| $4.59M | ﹤0.01% |
+399,600
| New | +$5.36M |
|
1393
Chefs' Warehouse
CHEF
$4.54B
| $4.58M | ﹤0.01% |
+73,556
| New | +$4.42M |
|
1394
Cinemark Holdings
CNK
$4.24B
| $4.53M | ﹤0.01% |
+194,799
| New | +$5.12M |
|
1395
Innovative Industrial Properties
IIPR
$1.56B
| $4.47M | ﹤0.01% |
+94,400
| New | +$4.89M |
|
1396
Tidewater
TDW
$4.63B
| $4.33M | ﹤0.01% |
+85,719
| New | +$4.53M |
|
|
CURB
1397
Curbline Properties
CURB
$3.44B
| $4.3M | ﹤0.01% |
+185,400
| New | +$4.32M |
|
1398
VSE Corp
VSEC
$6.2B
| $4.3M | ﹤0.01% |
+24,899
| New | +$4.26M |
|
1399
CS Disco
LAW
$286M
| $4.25M | ﹤0.01% |
+547,947
| New | +$3.86M |
|
1400
Helmerich & Payne
HP
$4.24B
| $4.17M | ﹤0.01% |
+145,256
| New | +$3.86M |
|
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.