NORGES BANK
Institutional investor · Portfolio as of Q2 2025
Top Holdings1,707 positions
Stock | Shares | Value | Weight | Avg Buy | Est. P&L | Held | Conviction |
|---|---|---|---|---|---|---|---|
NVIDIA CORP | 325.3M | $51.4B | 6.4% | $117.27 | +34.50% | 27 qtrssince 2018-Q4 | Increased 65 |
MICROSOFT CORP | 101.5M | $50.5B | 6.3% | $177.29 | +178.76% | 27 qtrssince 2018-Q4 | Increased 63 |
APPLE INC | 189.8M | $38.9B | 4.9% | $122.24 | +67.04% | 27 qtrssince 2018-Q4 | Increased 61 |
AMAZON.COM INC | 125.1M | $27.4B | 3.4% | $121.90 | +83.18% | 27 qtrssince 2018-Q4 | Increased 60 |
META PLATFORMS INC-CLASS A | 31.4M | $23.2B | 2.9% | $213.23 | +243.54% | 27 qtrssince 2018-Q4 | Decreased 0 |
ALPHABET INC-CL A | 124.5M | $21.9B | 2.7% | $123.63 | +44.18% | 27 qtrssince 2018-Q4 | Decreased 0 |
BROADCOM INC | 67.4M | $18.6B | 2.3% | $167.82 | +63.05% | 27 qtrssince 2018-Q4 | Decreased 0 |
TESLA INC | 37.3M | $11.8B | 1.5% | $257.78 | +25.54% | 27 qtrssince 2018-Q4 | Increased 54 |
JPMORGAN CHASE & CO | 35.5M | $10.3B | 1.3% | $102.32 | +176.65% | 27 qtrssince 2018-Q4 | Increased 51 |
ELI LILLY & CO | 11.3M | $8.8B | 1.1% | $253.57 | +204.83% | 27 qtrssince 2018-Q4 | Increased 52 |
NETFLIX INC | 5.9M | $7.9B | 1.0% | $38.14 | +246.88% | 27 qtrssince 2018-Q4 | Increased 47 |
BERKSHIRE HATHAWAY INC-CL A | 10,048 | $7.3B | 0.9% | $482,974.09 | +51.34% | 27 qtrssince 2018-Q4 | Increased 47 |
VISA INC-CLASS A SHARES | 19.8M | $7B | 0.9% | $194.95 | +80.36% | 27 qtrssince 2018-Q4 | Increased 48 |
MASTERCARD INC - A | 12M | $6.7B | 0.8% | $254.94 | +114.97% | 27 qtrssince 2018-Q4 | Increased 47 |
EXXON MOBIL CORP | 57.2M | $6.2B | 0.8% | $64.91 | +64.41% | 27 qtrssince 2018-Q4 | Decreased 0 |
COSTCO WHOLESALE CORP | 5.7M | $5.7B | 0.7% | $335.50 | +192.94% | 27 qtrssince 2018-Q4 | Increased 46 |
WALMART INC | 54.9M | $5.4B | 0.7% | $55.23 | +75.35% | 23 qtrssince 2019-Q4 | Increased 47 |
PROCTER & GAMBLE CO/THE | 32M | $5.1B | 0.6% | $96.70 | +58.96% | 27 qtrssince 2018-Q4 | Increased 45 |
BANK OF AMERICA CORP | 107.6M | $5.1B | 0.6% | $26.89 | +72.25% | 27 qtrssince 2018-Q4 | Decreased 0 |
WELLTOWER INC | 31.9M | $4.9B | 0.6% | $78.07 | +93.20% | 27 qtrssince 2018-Q4 | Increased 46 |
NORGES BANK manages $801.1B across 1707 positions as of Q2 2025. Top holdings: NVDA (6.4%), MSFT (6.3%), AAPL (4.9%). Fund DNA: Balanced Allocator. HoldingsIntel Rating: 4/5.0.
Active quarter - 53 new positions, 88 exits, 785 increased. Top move: NVDA (INCREASED, conviction 65). Portfolio: $801.1B across 1707 positions.
Top holdings by portfolio weight
Portfolio allocation by GICS sector
Behavioral investing profile
Position Outcomes
Best and worst performing positions by estimated return
Top Winners
Top Losers
Cost basis estimates based on full filing history using quarter-end prices. Actual transaction prices are not disclosed in 13F filings.
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Accumulation Streaks
Positions with 2+ consecutive quarters of increases - persistent directional conviction.
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Data sourced from SEC EDGAR 13F filings. Not financial advice. Full disclaimer