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 | |
|---|---|---|---|---|---|---|
1451
Nektar Therapeutics
NKTR
$2.55B
| $2.11M | ﹤0.01% |
+50,000
| New | +$2.8M |
|
1452
Cactus
WHD
$4.78B
| $2.03M | ﹤0.01% |
+44,413
| New | +$1.86M |
|
|
SEI
1453
Solaris Energy Infrastructure
SEI
$3.48B
| $2.02M | ﹤0.01% |
+44,000
| New | +$2.13M |
|
1454
Trinity Industries
TRN
$2.35B
| $2.02M | ﹤0.01% |
+76,238
| New | +$2.07M |
|
1455
Wabash National
WNC
$539M
| $2.01M | ﹤0.01% |
+232,600
| New | +$2.03M |
|
1456
Organon & Co
OGN
$3.61B
| $1.9M | ﹤0.01% |
+264,857
| New | +$2.09M |
|
1457
Kaiser Aluminum
KALU
$2.56B
| $1.89M | ﹤0.01% |
+16,469
| New | +$1.57M |
|
|
BRCB
1458
Black Rock Coffee Bar Inc
BRCB
$201M
| $1.89M | ﹤0.01% |
+85,000
| New | +$1.97M |
|
1459
Western Union
WU
$2.25B
| $1.84M | ﹤0.01% |
+197,774
| New | +$1.75M |
|
|
PSKY
1460
Paramount Skydance Corp
PSKY
$12.1B
| $1.84M | ﹤0.01% |
+137,408
| New | +$2.15M |
|
|
VOYG
1461
Voyager Technologies
VOYG
$2.12B
| $1.83M | ﹤0.01% |
+70,000
| New | +$1.9M |
|
1462
Laureate Education
LAUR
$5.38B
| $1.75M | ﹤0.01% |
+51,910
| New | +$1.6M |
|
1463
Buckle
BKE
$2.21B
| $1.74M | ﹤0.01% |
+32,500
| New | +$1.81M |
|
1464
United Parks & Resorts
PRKS
$1.93B
| $1.73M | ﹤0.01% |
+47,531
| New | +$1.97M |
|
1465
Northwest Natural Holdings
NWN
$2.09B
| $1.68M | ﹤0.01% |
+36,000
| New | +$1.68M |
|
1466
LivaNova
LIVN
$4.41B
| $1.62M | ﹤0.01% |
+26,252
| New | +$1.5M |
|
|
DAWN
1467
DELISTED
Day One Biopharmaceuticals
DAWN
| $1.58M | ﹤0.01% |
+169,000
| New | +$1.41M |
|
|
CTLP
1468
DELISTED
Cantaloupe
CTLP
| $1.56M | ﹤0.01% |
+146,808
| New | +$1.56M |
|
|
XHR
1469
Xenia Hotels & Resorts
XHR
$1.78B
| $1.54M | ﹤0.01% |
+109,000
| New | +$1.49M |
|
1470
Polaris
PII
$3.63B
| $1.52M | ﹤0.01% |
+24,006
| New | +$1.58M |
|
1471
Huntsman Corp
HUN
$1.69B
| $1.52M | ﹤0.01% |
+151,699
| New | +$1.39M |
|
1472
Flywire
FLYW
$2.28B
| $1.5M | ﹤0.01% |
+106,162
| New | +$1.45M |
|
1473
PagSeguro Digital
PAGS
$2.46B
| $1.45M | ﹤0.01% |
+150,115
| New | +$1.44M |
|
|
ARI
1474
Apollo Commercial Real Estate
ARI
$887M
| $1.41M | ﹤0.01% |
+145,800
| New | +$1.46M |
|
1475
Kodiak Sciences
KOD
$2.46B
| $1.4M | ﹤0.01% |
+50,000
| New | +$1.02M |
|
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.