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Norges Bank

Norges Bank Portfolio holdings

AUM $935B
 

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.

This Fund
S&P 500
This Quarter Est. Return
+4.2%
1 Year Est. Return
3 Year Est. Return
5 Year Est. Return
10 Year Est. Return
AUM
$935B
AUM Growth
Cap. Flow
+$925B
Cap. Flow %
98.97%
Top 10 Hldgs %
34.57%
Holding
1,577
New
1,577
Increased
Reduced
Closed

Top Buys

Rank Stock Value
1
NVDA icon
NVIDIA
NVDA
+$62.1B
2
MSFT icon
Microsoft
MSFT
+$52.5B
3
AAPL icon
Apple
AAPL
+$51.6B
4
AMZN icon
Amazon
AMZN
+$32.6B
5
GOOGL icon
Alphabet (Google) Class A
GOOGL
+$27.9B

Top Sells

No sells this quarter

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%

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Norges Bank's Q4 2025 Portfolio in Review

Q4 2025 is the first quarter with a 13F filing on record for Norges Bank, which disclosed 1,577 positions worth $935B. Its ten largest holdings account for 35% of the portfolio.

Its largest position is 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 disclosed 1,577 positions in Q4 2025, its first 13F filing on record.

Based on Norges Bank's 13F filing for Q4 2025, filed 10 Feb 2026.