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 | |
|---|---|---|---|---|---|---|
1551
A10 Networks
ATEN
$1.96B
| $465K | ﹤0.01% |
+26,272
| New | +$465K |
|
1552
PROG Holdings
PRG
$1.58B
| $462K | ﹤0.01% |
+15,659
| New | +$467K |
|
1553
Xerox
XRX
$390M
| $459K | ﹤0.01% |
+193,638
| New | +$573K |
|
|
LBRX
1554
LB Pharmaceuticals
LBRX
$1.54B
| $445K | ﹤0.01% |
+20,000
| New | +$349K |
|
1555
Innoviva
INVA
$1.51B
| $409K | ﹤0.01% |
+20,468
| New | +$400K |
|
1556
Caleres
CAL
$421M
| $376K | ﹤0.01% |
+30,888
| New | +$380K |
|
1557
Liquidity Services
LQDT
$1.31B
| $344K | ﹤0.01% |
+11,364
| New | +$305K |
|
|
GNTA
1558
Genenta Science
GNTA
$47.8M
| $337K | ﹤0.01% |
+226,178
| New | +$532K |
|
1559
Petco
WOOF
$774M
| $296K | ﹤0.01% |
+105,328
| New | +$341K |
|
1560
Bilibili
BILI
$7.02B
| $280K | ﹤0.01% |
+11,397
| New | +$307K |
|
1561
MGP Ingredients
MGPI
$349M
| $277K | ﹤0.01% |
+11,415
| New | +$278K |
|
|
SFIX
1562
Stitch Fix
SFIX
$412M
| $268K | ﹤0.01% |
+51,001
| New | +$233K |
|
1563
Evolent Health
EVH
$519M
| $254K | ﹤0.01% |
+63,454
| New | +$353K |
|
|
VSXY
1564
Victoria's Secret
VSXY
$7.13B
| $248K | ﹤0.01% |
+4,577
| New | +$182K |
|
1565
Rentokil
RTO
$11.8B
| $225K | ﹤0.01% |
+7,621
| New | +$212K |
|
1566
James Hardie Industries
JHX
$17.3B
| $213K | ﹤0.01% |
+10,283
| New | +$206K |
|
|
SEMR
1567
DELISTED
Semrush
SEMR
| $185K | ﹤0.01% |
+15,527
| New | +$145K |
|
1568
Xencor
XNCR
$2.15B
| $175K | ﹤0.01% |
+11,457
| New | +$171K |
|
1569
Sprout Social
SPT
$669M
| $173K | ﹤0.01% |
+15,365
| New | +$166K |
|
|
AIRO
1570
AIRO Group Holdings
AIRO
$253M
| $164K | ﹤0.01% |
+20,000
| New | +$258K |
|
1571
Star Holdings Shares of Beneficial Interest
STHO
$119M
| $160K | ﹤0.01% |
+19,431
| New | +$149K |
|
1572
AMC Entertainment Holdings
AMC
$2.41B
| $120K | ﹤0.01% |
+76,909
| New | +$183K |
|
1573
Plug Power
PLUG
$3.17B
| $89.7K | ﹤0.01% |
+45,519
| New | +$119K |
|
|
MPT
1574
Medical Properties Trust
MPT
$2.41B
| $52.2K | ﹤0.01% |
+10,447
| New | +$54.4K |
|
|
OPENW
1575
Opendoor Technologies Inc Series K Warrants
OPENW
$7.26M
| $6.49K | ﹤0.01% |
+7,213
| New | +$9.73K |
|
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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.