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 | |
|---|---|---|---|---|---|---|
|
BFS
1501
Saul Centers
BFS
$827M
| $1.1M | ﹤0.01% |
+34,900
| New | +$1.07M |
|
|
ACLX
1502
DELISTED
Arcellx
ACLX
| $1.09M | ﹤0.01% |
+16,707
| New | +$1.33M |
|
|
CSR
1503
Centerspace
CSR
$883M
| $1.08M | ﹤0.01% |
+16,200
| New | +$1.02M |
|
1504
Asana
ASAN
$2.34B
| $1.08M | ﹤0.01% |
+78,605
| New | +$1.08M |
|
|
OPLN
1505
Openlane
OPLN
$4.33B
| $1.07M | ﹤0.01% |
+36,010
| New | +$974K |
|
1506
IDEAYA Biosciences
IDYA
$4.03B
| $1.06M | ﹤0.01% |
+30,589
| New | +$975K |
|
1507
ManpowerGroup
MAN
$2.89B
| $1.05M | ﹤0.01% |
+35,411
| New | +$1.11M |
|
1508
DXC Technology
DXC
$1.76B
| $1.05M | ﹤0.01% |
+71,807
| New | +$987K |
|
1509
Vital Farms
VITL
$448M
| $1.04M | ﹤0.01% |
+32,705
| New | +$1.15M |
|
|
HTFL
1510
Heartflow Inc
HTFL
$4.18B
| $1.02M | ﹤0.01% |
+35,000
| New | +$1.13M |
|
1511
Neogen
NEOG
$2.56B
| $1.01M | ﹤0.01% |
+144,502
| New | +$909K |
|
|
GEMI
1512
Gemini Space Station
GEMI
$611M
| $992K | ﹤0.01% |
+100,000
| New | +$1.56M |
|
1513
Harmony Biosciences
HRMY
$2.32B
| $992K | ﹤0.01% |
+26,508
| New | +$872K |
|
1514
NMI Holdings
NMIH
$3.37B
| $986K | ﹤0.01% |
+24,164
| New | +$913K |
|
1515
Diodes
DIOD
$4.18B
| $982K | ﹤0.01% |
+19,908
| New | +$1.01M |
|
|
AIV
1516
Aimco
AIV
$365M
| $980K | ﹤0.01% |
+165,000
| New | +$988K |
|
1517
Diamondrock Hospitality Co
DRH
$2.6B
| $977K | ﹤0.01% |
+109,008
| New | +$929K |
|
1518
Dyne Therapeutics
DYN
$4.87B
| $965K | ﹤0.01% |
+49,319
| New | +$934K |
|
1519
California Water Service
CWT
$3.1B
| $958K | ﹤0.01% |
+22,114
| New | +$1.01M |
|
1520
Napco Security Technologies
NSSC
$1.26B
| $956K | ﹤0.01% |
+22,935
| New | +$965K |
|
1521
Griffon
GFF
$4.49B
| $943K | ﹤0.01% |
+12,807
| New | +$952K |
|
1522
BlueLinx
BXC
$627M
| $921K | ﹤0.01% |
+15,000
| New | +$968K |
|
1523
Kenon Holdings
KEN
$3.59B
| $903K | ﹤0.01% |
+13,711
| New | +$764K |
|
1524
WisdomTree
WT
$3.79B
| $902K | ﹤0.01% |
+74,019
| New | +$894K |
|
|
OMDA
1525
Omada Health Inc
OMDA
$1.49B
| $899K | ﹤0.01% |
+56,962
| New | +$1.16M |
|
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.