NORGES BANK
Institutional investor · Portfolio as of Q4 2025
Top Holdings1,577 positions
Stock | Shares | Value | Weight | Avg Buy | Est. P&L | Held | Conviction |
|---|---|---|---|---|---|---|---|
NVIDIA CORP | 333.7M | $62.2B | 6.7% | $119.06 | +57.51% | 28 qtrssince 2018-Q4 | Increased 64 |
APPLE INC | 192.3M | $52.3B | 5.6% | $124.13 | +118.41% | 28 qtrssince 2018-Q4 | Increased 63 |
MICROSOFT CORP | 104.8M | $50.7B | 5.4% | $186.91 | +160.82% | 28 qtrssince 2018-Q4 | Increased 64 |
AMAZON.COM INC | 142.4M | $32.9B | 3.5% | $135.37 | +71.77% | 28 qtrssince 2018-Q4 | Increased 67 |
ALPHABET INC-CL A | 97.6M | $30.5B | 3.3% | $123.63 | +153.86% | 28 qtrssince 2018-Q4 | Decreased 0 |
BROADCOM INC | 70.1M | $24.3B | 2.6% | $174.57 | +97.53% | 28 qtrssince 2018-Q4 | Increased 57 |
META PLATFORMS INC-CLASS A | 33.6M | $22.2B | 2.4% | $242.74 | +174.35% | 28 qtrssince 2018-Q4 | Increased 59 |
ALPHABET INC-CL C | 57.7M | $18.1B | 1.9% | $236.95 | +32.75% | 28 qtrssince 2018-Q4 | Increased 81 |
TESLA INC | 38.1M | $17.1B | 1.8% | $261.98 | +73.46% | 28 qtrssince 2018-Q4 | Increased 51 |
ELI LILLY & CO | 12.1M | $13B | 1.4% | $304.28 | +251.49% | 28 qtrssince 2018-Q4 | Increased 54 |
JPMORGAN CHASE & CO | 35.4M | $11.4B | 1.2% | $102.32 | +214.66% | 28 qtrssince 2018-Q4 | Decreased 0 |
BERKSHIRE HATHAWAY INC-CL A | 10,308 | $7.8B | 0.8% | $489,845.52 | +54.21% | 28 qtrssince 2018-Q4 | Increased 46 |
EXXON MOBIL CORP | 63.4M | $7.6B | 0.8% | $70.31 | +70.95% | 28 qtrssince 2018-Q4 | Increased 50 |
JOHNSON & JOHNSON | 33.5M | $6.9B | 0.7% | $125.09 | +65.40% | 28 qtrssince 2018-Q4 | Increased 47 |
MASTERCARD INC - A | 11.7M | $6.7B | 0.7% | $254.94 | +126.15% | 28 qtrssince 2018-Q4 | Decreased 0 |
WALMART INC | 58M | $6.5B | 0.7% | $58.24 | +92.18% | 24 qtrssince 2019-Q4 | Increased 48 |
MICRON TECHNOLOGY INC | 22.5M | $6.4B | 0.7% | $145.81 | +100.69% | 28 qtrssince 2018-Q4 | Increased 60 |
VISA INC-CLASS A SHARES | 16.8M | $5.9B | 0.6% | $194.95 | +78.82% | 28 qtrssince 2018-Q4 | Decreased 0 |
ABBVIE INC | 25.7M | $5.9B | 0.6% | $107.98 | +106.72% | 28 qtrssince 2018-Q4 | Increased 50 |
NETFLIX INC | 61.9M | $5.8B | 0.6% | $88.46 | +6.02% | 28 qtrssince 2018-Q4 | Increased 73 |
NORGES BANK manages $934.8B across 1577 positions as of Q4 2025. Top holdings: NVDA (6.7%), AAPL (5.6%), MSFT (5.4%). Fund DNA: Balanced Allocator. HoldingsIntel Rating: 4/5.0.
Active quarter - 150 new positions, 278 exits, 896 increased. Top move: GOOG (INCREASED, conviction 81). Portfolio: $934.8B across 1577 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