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
|
+$67B |
| 2 |
Apple
AAPL
|
+$54.6B |
| 3 |
Microsoft
MSFT
|
+$41.6B |
| 4 |
Amazon
AMZN
|
+$35.3B |
| 5 |
Alphabet (Google) Class A
GOOGL
|
+$29.1B |
Top Sells
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Technology | 35.64% |
| 2 | Financials | 13.2% |
| 3 | Consumer Discretionary | 9.65% |
| 4 | Communication Services | 9.61% |
| 5 | Healthcare | 9.57% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
126
Newmont
NEM
$139B
| $1.34B | 0.13% |
+14,348,997
| New | +$1.56B |
|
127
Starbucks
SBUX
$122B
| $1.33B | 0.13% |
+12,985,276
| New | +$1.31B |
|
128
T-Mobile US
TMUS
$191B
| $1.33B | 0.13% |
+7,909,295
| New | +$1.5B |
|
129
Agnico Eagle Mines
AEM
$109B
| $1.31B | 0.13% |
+8,443,750
| New | +$1.56B |
|
130
Enbridge
ENB
$109B
| $1.3B | 0.13% |
+24,021,424
| New | +$1.32B |
|
131
Medtronic
MDT
$115B
| $1.29B | 0.13% |
+16,551,016
| New | +$1.34B |
|
132
Cadence Design Systems
CDNS
$95.7B
| $1.27B | 0.13% |
+3,395,031
| New | +$1.19B |
|
133
Cummins
CMI
$79B
| $1.27B | 0.13% |
+1,779,281
| New | +$1.17B |
|
134
KKR & Co
KKR
$98.1B
| $1.27B | 0.13% |
+13,798,499
| New | +$1.34B |
|
135
O'Reilly Automotive
ORLY
$71.1B
| $1.26B | 0.13% |
+13,734,627
| New | +$1.25B |
|
136
3M
MMM
$92.2B
| $1.26B | 0.13% |
+7,808,095
| New | +$1.18B |
|
137
Equinix
EQIX
$106B
| $1.25B | 0.13% |
+1,203,073
| New | +$1.29B |
|
|
SPCX
138
SpaceX
SPCX
$1.86T
| $1.24B | 0.12% |
+7,277,285
| New | +$1.24B |
|
139
Ross Stores
ROST
$73.7B
| $1.24B | 0.12% |
+5,834,005
| New | +$1.31B |
|
140
ServiceNow
NOW
$143B
| $1.24B | 0.12% |
+12,458,091
| New | +$1.23B |
|
141
CSX Corp
CSX
$95.5B
| $1.23B | 0.12% |
+25,950,269
| New | +$1.17B |
|
142
Johnson Controls International
JCI
$86.1B
| $1.21B | 0.12% |
+8,261,631
| New | +$1.17B |
|
143
US Bancorp
USB
$97.2B
| $1.2B | 0.12% |
+19,940,331
| New | +$1.12B |
|
144
Kinder Morgan
KMI
$70.2B
| $1.2B | 0.12% |
+37,596,771
| New | +$1.21B |
|
145
Brookfield
BN
$92.5B
| $1.2B | 0.12% |
+28,058,813
| New | +$1.25B |
|
146
Unum
UNM
$14.6B
| $1.19B | 0.12% |
+13,256,645
| New | +$1.1B |
|
147
Canadian Pacific Kansas City
CP
$82.5B
| $1.18B | 0.12% |
+13,671,726
| New | +$1.17B |
|
|
FITB
148
Fifth Third Bancorp
FITB
$49.7B
| $1.18B | 0.12% |
+20,906,386
| New | +$1.06B |
|
149
UDR
UDR
$11.9B
| $1.18B | 0.12% |
+29,452,071
| New | +$1.09B |
|
150
FedEx
FDX
$78.4B
| $1.16B | 0.12% |
+3,716,680
| New | +$1.35B |
|
Similar funds
Norges Bank's Q2 2026 Portfolio in Review
As of Q2 2026, Norges Bank held 1,617 positions worth $1T. Its ten largest holdings account for 32% of the portfolio.
Norges Bank deployed $972B of net new capital in Q2 2026, opening 1,617 new positions. Its largest new stake was NVIDIA: 325,951,734 shares worth $65.2B.
By sector, the portfolio is most concentrated in Technology at 36% of assets, followed by Financials and Consumer Discretionary.
- Norges Bank's largest Q2 2026 buy was NVIDIA: 325,951,734 shares worth $65.2B.
- Norges Bank's ten largest holdings make up 32% of its $1T portfolio in Q2 2026.
- Norges Bank opened 1,617 new positions and closed 0 in Q2 2026.
Based on Norges Bank's 13F filing for Q2 2026, filed 12 Aug 2026.