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 | |
|---|---|---|---|---|---|---|
126
Starbucks
SBUX
$122B
| $1.23B | 0.13% |
+14,637,807
| New | +$1.23B |
|
127
Brookfield
BN
$92.5B
| $1.23B | 0.13% |
+26,740,100
| New | +$1.22B |
|
128
Extra Space Storage
EXR
$30.2B
| $1.22B | 0.13% |
+9,365,735
| New | +$1.28B |
|
129
Robinhood
HOOD
$98.7B
| $1.2B | 0.13% |
+10,629,175
| New | +$1.38B |
|
130
Enbridge
ENB
$109B
| $1.2B | 0.13% |
+24,983,734
| New | +$1.19B |
|
131
Regency Centers
REG
$13.8B
| $1.18B | 0.13% |
+17,147,133
| New | +$1.2B |
|
132
American Tower
AMT
$81.2B
| $1.17B | 0.13% |
+6,670,729
| New | +$1.21B |
|
133
Public Storage
PSA
$58.1B
| $1.16B | 0.12% |
+4,484,589
| New | +$1.25B |
|
134
Trane Technologies
TT
$100B
| $1.16B | 0.12% |
+2,988,500
| New | +$1.24B |
|
135
Aon
AON
$74.2B
| $1.16B | 0.12% |
+3,275,848
| New | +$1.14B |
|
136
Fortinet
FTNT
$127B
| $1.15B | 0.12% |
+14,518,531
| New | +$1.2B |
|
137
O'Reilly Automotive
ORLY
$71.1B
| $1.13B | 0.12% |
+12,436,262
| New | +$1.22B |
|
138
Kinder Morgan
KMI
$70.2B
| $1.13B | 0.12% |
+41,183,145
| New | +$1.11B |
|
139
Warner Bros
WBD
$72.4B
| $1.12B | 0.12% |
+38,994,003
| New | +$911M |
|
140
Roper Technologies
ROP
$41.8B
| $1.11B | 0.12% |
+2,500,108
| New | +$1.16B |
|
141
Simon Property Group
SPG
$69.5B
| $1.11B | 0.12% |
+6,007,839
| New | +$1.09B |
|
142
Valero Energy
VLO
$99.8B
| $1.11B | 0.12% |
+6,828,073
| New | +$1.16B |
|
143
Southern Company
SO
$102B
| $1.11B | 0.12% |
+12,745,981
| New | +$1.16B |
|
144
Unum
UNM
$14.6B
| $1.11B | 0.12% |
+14,308,628
| New | +$1.09B |
|
145
Teva Pharmaceuticals
TEVA
$43.8B
| $1.1B | 0.12% |
+35,182,949
| New | +$867M |
|
146
Moody's
MCO
$88.2B
| $1.1B | 0.12% |
+2,147,599
| New | +$1.05B |
|
147
DoorDash
DASH
$100B
| $1.09B | 0.12% |
+4,828,902
| New | +$1.13B |
|
148
Sherwin-Williams
SHW
$83.8B
| $1.09B | 0.12% |
+3,362,189
| New | +$1.12B |
|
149
Norfolk Southern
NSC
$78.1B
| $1.08B | 0.12% |
+3,756,930
| New | +$1.09B |
|
150
UDR
UDR
$11.9B
| $1.08B | 0.12% |
+29,492,515
| New | +$1.05B |
|
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.