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 | |
|---|---|---|---|---|---|---|
201
Edwards Lifesciences
EW
$51.8B
| $804M | 0.09% |
+9,427,396
| New | +$774M |
|
202
Hilton Worldwide
HLT
$73.3B
| $803M | 0.09% |
+2,795,637
| New | +$761M |
|
203
Cardinal Health
CAH
$54.7B
| $790M | 0.08% |
+3,845,956
| New | +$724M |
|
204
Western Digital
WDC
$167B
| $789M | 0.08% |
+4,578,446
| New | +$694M |
|
205
Ferrari
RACE
$72.8B
| $780M | 0.08% |
+2,085,945
| New | +$835M |
|
206
Manulife Financial
MFC
$71.6B
| $777M | 0.08% |
+21,403,764
| New | +$726M |
|
207
Otis Worldwide
OTIS
$27.2B
| $770M | 0.08% |
+8,816,541
| New | +$789M |
|
208
Nu Holdings
NU
$71.9B
| $764M | 0.08% |
+45,626,792
| New | +$733M |
|
209
Kenvue
KVUE
$36.9B
| $757M | 0.08% |
+43,876,034
| New | +$717M |
|
210
Sun Communities
SUI
$15B
| $753M | 0.08% |
+6,079,930
| New | +$761M |
|
211
Mid-America Apartment Communities
MAA
$14.9B
| $751M | 0.08% |
+5,403,518
| New | +$720M |
|
212
Williams Companies
WMB
$90.7B
| $748M | 0.08% |
+12,439,677
| New | +$752M |
|
213
Vistra
VST
$46.9B
| $747M | 0.08% |
+4,628,580
| New | +$843M |
|
214
Ameriprise Financial
AMP
$49.1B
| $742M | 0.08% |
+1,514,129
| New | +$719M |
|
215
Targa Resources
TRGP
$62B
| $736M | 0.08% |
+3,987,850
| New | +$672M |
|
216
Take-Two Interactive
TTWO
$43.6B
| $735M | 0.08% |
+2,872,278
| New | +$716M |
|
217
Zoetis
ZTS
$31B
| $734M | 0.08% |
+5,837,110
| New | +$761M |
|
218
Becton Dickinson
BDX
$51.2B
| $734M | 0.08% |
+3,783,792
| New | +$720M |
|
219
Federal Realty Investment Trust
FRT
$10.2B
| $734M | 0.08% |
+7,284,627
| New | +$717M |
|
220
Cheniere Energy
LNG
$58B
| $732M | 0.08% |
+3,764,462
| New | +$790M |
|
221
Check Point Software Technologies
CHKP
$13.6B
| $731M | 0.08% |
+3,940,912
| New | +$762M |
|
222
Synopsys
SNPS
$89B
| $730M | 0.08% |
+1,554,536
| New | +$691M |
|
223
PACCAR
PCAR
$66.6B
| $728M | 0.08% |
+6,645,465
| New | +$681M |
|
224
Travelers Companies
TRV
$77B
| $723M | 0.08% |
+2,493,756
| New | +$702M |
|
225
Automatic Data Processing
ADP
$113B
| $722M | 0.08% |
+2,805,809
| New | +$747M |
|
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.