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 | |
|---|---|---|---|---|---|---|
1476
John Wiley & Sons Class A
WLY
$2.74B
| $1.35M | ﹤0.01% |
+44,000
| New | +$1.55M |
|
|
ECG
1477
Everus Construction Group
ECG
$6.18B
| $1.34M | ﹤0.01% |
+15,707
| New | +$1.41M |
|
|
PKST
1478
DELISTED
Peakstone Realty Trust
PKST
| $1.34M | ﹤0.01% |
+93,500
| New | +$1.29M |
|
1479
QuidelOrtho
QDEL
$1.05B
| $1.32M | ﹤0.01% |
+46,241
| New | +$1.25M |
|
1480
Celcuity
CELC
$4.56B
| $1.32M | ﹤0.01% |
+13,205
| New | +$1.09M |
|
|
NBIS
1481
Nebius Group N.V.
NBIS
$59.4B
| $1.3M | ﹤0.01% |
+15,500
| New | +$1.61M |
|
1482
Kymera Therapeutics
KYMR
$10B
| $1.29M | ﹤0.01% |
+16,543
| New | +$1.12M |
|
1483
Praxis Precision Medicines
PRAX
$10.3B
| $1.28M | ﹤0.01% |
+4,354
| New | +$811K |
|
1484
The RealReal
REAL
$1.33B
| $1.25M | ﹤0.01% |
+79,508
| New | +$1.04M |
|
1485
Employers Holdings
EIG
$880M
| $1.25M | ﹤0.01% |
+29,000
| New | +$1.18M |
|
1486
Nomad Foods
NOMD
$1.68B
| $1.23M | ﹤0.01% |
+98,377
| New | +$1.2M |
|
1487
Liquidia Corp
LQDA
$6.26B
| $1.22M | ﹤0.01% |
+35,307
| New | +$1.01M |
|
1488
Patterson-UTI
PTEN
$4.68B
| $1.21M | ﹤0.01% |
+198,800
| New | +$1.19M |
|
1489
Ardagh Metal Packaging
AMBP
$3.09B
| $1.2M | ﹤0.01% |
+292,456
| New | +$1.11M |
|
1490
Tandem Diabetes Care
TNDM
$1.49B
| $1.19M | ﹤0.01% |
+54,306
| New | +$980K |
|
|
OLP
1491
One Liberty Properties
OLP
$528M
| $1.19M | ﹤0.01% |
+58,500
| New | +$1.21M |
|
1492
10x Genomics
TXG
$8.45B
| $1.19M | ﹤0.01% |
+72,674
| New | +$1.1M |
|
1493
Kodiak Gas Services
KGS
$6.08B
| $1.17M | ﹤0.01% |
+31,208
| New | +$1.1M |
|
1494
United Natural Foods
UNFI
$2.86B
| $1.16M | ﹤0.01% |
+34,508
| New | +$1.28M |
|
|
WBTN
1495
WEBTOON Entertainment Inc
WBTN
$1.35B
| $1.15M | ﹤0.01% |
+88,480
| New | +$1.36M |
|
1496
Vita Coco
COCO
$3.57B
| $1.15M | ﹤0.01% |
+21,705
| New | +$1.02M |
|
|
LTC
1497
LTC Properties
LTC
$2.19B
| $1.13M | ﹤0.01% |
+32,900
| New | +$1.16M |
|
1498
ACM Research
ACMR
$5.61B
| $1.13M | ﹤0.01% |
+28,528
| New | +$1.06M |
|
1499
Kulicke & Soffa
KLIC
$4.43B
| $1.11M | ﹤0.01% |
+24,305
| New | +$1.03M |
|
1500
Frontdoor
FTDR
$5.71B
| $1.1M | ﹤0.01% |
+19,133
| New | +$1.13M |
|
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.