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 | |
|---|---|---|---|---|---|---|
1401
D-Wave Quantum Inc
QBTS
$6.67B
| $4.16M | ﹤0.01% |
+159,005
| New | +$4.63M |
|
1402
PTC Therapeutics
PTCT
$5.99B
| $4.09M | ﹤0.01% |
+53,807
| New | +$3.91M |
|
|
AHL
1403
DELISTED
Aspen Insurance
AHL
| $4.08M | ﹤0.01% |
+110,024
| New | +$4.06M |
|
1404
CarGurus
CARG
$3.24B
| $4.01M | ﹤0.01% |
+104,619
| New | +$3.77M |
|
|
WBI
1405
WaterBridge Infrastructure LLC
WBI
$1.81B
| $4M | ﹤0.01% |
+200,000
| New | +$4.64M |
|
1406
Viridian Therapeutics
VRDN
$2.71B
| $3.82M | ﹤0.01% |
+122,790
| New | +$3.37M |
|
1407
Bruker
BRKR
$9.03B
| $3.77M | ﹤0.01% |
+80,091
| New | +$3.38M |
|
1408
Douglas Emmett
DEI
$1.99B
| $3.77M | ﹤0.01% |
+342,621
| New | +$4.29M |
|
1409
Transmedics
TMDX
$3.18B
| $3.72M | ﹤0.01% |
+30,574
| New | +$3.84M |
|
1410
Core Scientific
CORZ
$5.66B
| $3.69M | ﹤0.01% |
+253,602
| New | +$4.42M |
|
1411
Viasat
VSAT
$10B
| $3.67M | ﹤0.01% |
+106,577
| New | +$3.76M |
|
1412
Shoals Technologies Group
SHLS
$1.25B
| $3.53M | ﹤0.01% |
+414,753
| New | +$3.73M |
|
1413
Simply Good Foods
SMPL
$903M
| $3.52M | ﹤0.01% |
+175,399
| New | +$3.65M |
|
1414
Pitney Bowes
PBI
$2.37B
| $3.5M | ﹤0.01% |
+331,000
| New | +$3.43M |
|
1415
Surgery Partners
SGRY
$1.82B
| $3.46M | ﹤0.01% |
+223,742
| New | +$4.11M |
|
1416
Dentsply Sirona
XRAY
$2.2B
| $3.39M | ﹤0.01% |
+296,663
| New | +$3.48M |
|
1417
CNO Financial Group
CNO
$5.1B
| $3.38M | ﹤0.01% |
+79,703
| New | +$3.25M |
|
1418
Liberty Energy
LBRT
$3.14B
| $3.33M | ﹤0.01% |
+180,393
| New | +$3.01M |
|
1419
Cable One
CABO
$128M
| $3.3M | ﹤0.01% |
+29,204
| New | +$3.98M |
|
|
FINV
1420
FinVolution Group
FINV
$949M
| $3.27M | ﹤0.01% |
+624,435
| New | +$3.67M |
|
1421
Synaptics
SYNA
$3.82B
| $3.18M | ﹤0.01% |
+43,018
| New | +$3.02M |
|
1422
Commault Systems
CVLT
$5.82B
| $3.03M | ﹤0.01% |
+24,195
| New | +$3.4M |
|
1423
Kemper
KMPR
$1.63B
| $3.03M | ﹤0.01% |
+74,718
| New | +$3.2M |
|
1424
Andersons Inc
ANDE
$2.17B
| $3M | ﹤0.01% |
+56,500
| New | +$2.76M |
|
1425
Under Armour Class C
UA
$2.13B
| $2.98M | ﹤0.01% |
+621,078
| New | +$2.76M |
|
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.