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 | Held Since | |
|---|---|---|---|---|---|---|---|
176
Bloom Energy
BE
$76.7B
| $998M | 0.1% |
+3,297,042
| New | +$845M |
2020 Q3
23 quarters
|
|
177
Cigna
CI
$74.7B
| $982M | 0.1% |
+3,562,699
| New | +$1.01B |
2013 Q2
52 quarters
|
|
178
Motorola Solutions
MSI
$73.7B
| $978M | 0.1% |
+2,354,901
| New | +$986M |
2013 Q2
52 quarters
|
|
179
Coherent
COHR
$56.2B
| $973M | 0.1% |
+2,467,602
| New | +$873M |
2013 Q2
52 quarters
|
|
180
Mondelez International
MDLZ
$78.6B
| $960M | 0.1% |
+16,604,964
| New | +$1B |
2013 Q2
52 quarters
|
|
181
Simon Property Group
SPG
$64.9B
| $960M | 0.1% |
+4,293,287
| New | +$883M |
2013 Q2
52 quarters
|
|
182
Norfolk Southern
NSC
$71.5B
| $957M | 0.1% |
+3,040,628
| New | +$937M |
2013 Q2
52 quarters
|
|
183
Comfort Systems
FIX
$57.8B
| $935M | 0.09% |
+471,564
| New | +$856M |
2013 Q2
52 quarters
|
|
184
Ecolab
ECL
$79.8B
| $934M | 0.09% |
+3,350,825
| New | +$883M |
2013 Q2
52 quarters
|
|
185
Aon
AON
$58B
| $928M | 0.09% |
+2,796,760
| New | +$902M |
2013 Q2
52 quarters
|
|
186
Vistra
VST
$53.3B
| $922M | 0.09% |
+5,811,201
| New | +$902M |
2018 Q2
32 quarters
|
|
187
Nucor
NUE
$57.6B
| $917M | 0.09% |
+4,118,036
| New | +$932M |
2013 Q2
52 quarters
|
|
188
DoorDash
DASH
$83.8B
| $915M | 0.09% |
+4,958,309
| New | +$820M |
2021 Q2
20 quarters
|
|
189
AutoZone
AZO
$46.8B
| $906M | 0.09% |
+283,494
| New | +$942M |
2013 Q2
52 quarters
|
|
190
Boston Scientific
BSX
$62.7B
| $904M | 0.09% |
+21,170,029
| New | +$1.15B |
2013 Q2
52 quarters
|
|
191
Williams Companies
WMB
$90.4B
| $897M | 0.09% |
+12,060,202
| New | +$888M |
2013 Q2
52 quarters
|
|
192
Accenture
ACN
$132B
| $896M | 0.09% |
+7,203,649
| New | +$1.25B |
2013 Q2
52 quarters
|
|
193
Colgate-Palmolive
CL
$71.3B
| $888M | 0.09% |
+9,686,029
| New | +$847M |
2013 Q2
52 quarters
|
|
194
Cardinal Health
CAH
$54.6B
| $885M | 0.09% |
+3,726,422
| New | +$774M |
2013 Q2
52 quarters
|
|
195
Cloudflare
NET
$125B
| $882M | 0.09% |
+3,596,888
| New | +$787M |
2019 Q3
27 quarters
|
|
196
Kenvue
KVUE
$34.1B
| $882M | 0.09% |
+46,156,826
| New | +$813M |
2023 Q2
12 quarters
|
|
197
Chipotle Mexican Grill
CMG
$37.9B
| $879M | 0.09% |
+25,846,578
| New | +$844M |
2013 Q2
52 quarters
|
|
198
Illinois Tool Works
ITW
$75.9B
| $871M | 0.09% |
+3,220,679
| New | +$836M |
2013 Q2
52 quarters
|
|
199
Alexandria Real Estate Equities
ARE
$7.56B
| $869M | 0.09% |
+16,437,663
| New | +$786M |
2013 Q2
52 quarters
|
|
200
Apollo Global Management
APO
$70.1B
| $866M | 0.09% |
+7,323,927
| New | +$921M |
2020 Q1
25 quarters
|
|
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.