NORGES BANK
Confidential treatment requested — holdings omitted from public disclosure
Sector Allocation
- Technology43.7%$438.6B
- Financials13.3%$133.3B
- Healthcare9.4%$94.3B
- Consumer Discretionary9.2%$92.6B
- Industrials6.7%$67.4B
- Real Estate4.0%$40.3B
- Consumer Staples3.9%$38.7B
- Materials3.1%$31.2B
- Energy3.0%$29.7B
- Communication Services1.9%$18.8B
AUM History
13fpro.ai/research/fund/norges-bank-1374170
Conviction and streaks
Stable · top 10 = 32.4%From the fund's last 12 quarters of 13F filings: positions held longest at size, and names it added to or trimmed several quarters running.
Largest positions — Q2 2026
NVDA
$65.2BAAPL
$55.2BMSFT
$38.3BAMZN
$33.5BGOOGL
$28.9BGOOG
$26.4BAVGO
$24.9BMETA
$18.4BMU
$17.5BTSLA
$16.3BLLY
$13.8BAMD
$13.6BJPM
$11.8BINTC
$8.6BXOM.R34088
$8.3BAMAT
$8.2BJNJ
$8.1BLRCX
$7.9BBRK.A
$7.8BWMT
$6.5B
Top 20 stock positions. Options are left out: 13F reports them at the underlying's value.
13fpro.ai/research/fund/norges-bank-1374170
NORGES BANK 13F holdings — Q2 2026
$1.0T portfolio · 1,617 holdings · Q2 2026 13F · top 10 are 32% of the stock portfolio
$65.2B
6.5% of stocks
NewThis quarter-3.6%Since filedNew this quarterHeld$55.2B
5.5% of stocks
NewThis quarter+13.8%Since filedNew this quarterHeld$38.3B
3.8% of stocks
NewThis quarter+8.2%Since filedNew this quarterHeld$33.5B
3.3% of stocks
NewThis quarter-6.8%Since filedNew this quarterHeld$28.9B
2.9% of stocks
NewThis quarter-8.2%Since filedNew this quarterHeld$26.4B
2.6% of stocks
NewThis quarter-8.2%Since filedNew this quarterHeld$24.9B
2.5% of stocks
NewThis quarter-20.9%Since filedNew this quarterHeld$18.4B
1.8% of stocks
NewThis quarter+8.9%Since filedNew this quarterHeld$17.5B
1.8% of stocks
NewThis quarter-0.8%Since filedNew this quarterHeld$16.3B
1.6% of stocks
NewThis quarter+19.6%Since filedNew this quarterHeld
All holdings — NORGES BANK (Q2 2026)
1,617 disclosed positions from the Form 13F-HR on SEC EDGAR, with quarter-over-quarter share changes. Largest by value first; the ten above are not repeated. The page lists up to 1,000; every position is in the Excel export.
| # | Company | Held | Source | |||||||
|---|---|---|---|---|---|---|---|---|---|---|
| 11 | ELI LILLY & Co | Healthcare | $13.8B | 1.4% | 11.47M | New | 1+ qtrs | AI quality score is Pro: unlock with a free trial | 13F | |
| 12 | ADVANCED MICRO DEVICES INC | Technology | $13.6B | 1.4% | 23.36M | New | 1+ qtrs | AI quality score is Pro: unlock with a free trial | 13F | |
| 13 | JPMORGAN CHASE & CO | Financials | $11.8B | 1.2% | 36.12M | New | 1+ qtrs | AI quality score is Pro: unlock with a free trial | 13F | |
| 14 | INTEL CORP | Technology | $8.6B | 0.9% | 61.71M | New | 1+ qtrs | AI quality score is Pro: unlock with a free trial | 13F | |
| 15 | EXXON MOBIL CORP | Energy | $8.3B | 0.8% | 61.00M | New | 1+ qtrs | AI quality score is Pro: unlock with a free trial | 13F | |
| 16 | APPLIED MATERIALS INC /DE | Technology | $8.2B | 0.8% | 11.31M | New | 1+ qtrs | AI quality score is Pro: unlock with a free trial | 13F | |
| 17 | JOHNSON & JOHNSON | Healthcare | $8.1B | 0.8% | 31.83M | New | 1+ qtrs | AI quality score is Pro: unlock with a free trial | 13F | |
| 18 | LAM RESEARCH CORP | Technology | $7.9B | 0.8% | 18.12M | New | 1+ qtrs | AI quality score is Pro: unlock with a free trial | 13F | |
| 19 | BERKSHIRE HATHAWAY INC | Financials | $7.8B | 0.8% | 10K | New | 1+ qtrs | AI quality score is Pro: unlock with a free trial | 13F | |
| 20 | Walmart Inc. | Consumer Staples | $6.5B | 0.7% | 57.42M | New | 1+ qtrs | AI quality score is Pro: unlock with a free trial | 13F | |
| 21 | CISCO SYSTEMS, INC. | Technology | $6.4B | 0.6% | 54.84M | New | 1+ qtrs | AI quality score is Pro: unlock with a free trial | 13F | |
| 22 | AbbVie Inc. | Healthcare | $6.4B | 0.6% | 25.55M | New | 1+ qtrs | AI quality score is Pro: unlock with a free trial | 13F | |
| 23 | ASTRAZENECA PLC | Healthcare | $6.3B | 0.6% | 33.86M | New | 1+ qtrs | AI quality score is Pro: unlock with a free trial | 13F | |
| 24 | COSTCO WHOLESALE CORP /NEW | Consumer Staples | $6.1B | 0.6% | 6.47M | New | 1+ qtrs | AI quality score is Pro: unlock with a free trial | 13F | |
| 25 | Mastercard Inc | Financials | $6.0B | 0.6% | 11.75M | New | 1+ qtrs | AI quality score is Pro: unlock with a free trial | 13F | |
| 26 | $KLAC | KLA CORP | Technology | $5.9B | 0.6% | 19.57M | New | |||
| 27 | $V | VISA INC. | Financials | $5.6B | 0.6% | 16.22M | New | |||
| 28 | $UNH | UNITEDHEALTH GROUP INC | Healthcare | $5.3B | 0.5% | 12.74M | New | |||
| 29 | $GE | GENERAL ELECTRIC CO | Industrials | $5.1B | 0.5% | 13.69M | New | |||
| 30 | $BAC | BANK OF AMERICA CORP /DE/ | Financials | $4.8B | 0.5% | 83.79M | New | |||
| 31 | $MRK | Merck & Co., Inc. | Healthcare | $4.8B | 0.5% | 36.98M | New | |||
| 32 | $UBS | UBS Group AG | Financials | $4.8B | 0.5% | 95.85M | New | |||
| 33 | $HD | HOME DEPOT, INC. | Consumer Discretionary | $4.7B | 0.5% | 13.38M | New | |||
| 34 | $SNDK | Sandisk Corp | Technology | $4.7B | 0.5% | 2.06M | New | |||
| 35 | $PG | PROCTER & GAMBLE Co | Consumer Staples | $4.7B | 0.5% | 31.83M | New | |||
| 36 | $WFC | WELLS FARGO & COMPANY/MN | Financials | $4.6B | 0.5% | 55.49M | New | |||
| 37 | $BRK.B | BERKSHIRE HATHAWAY INC | Financials | $4.4B | 0.4% | 8.79M | New | |||
| 38 | $MRVL | Marvell Technology, Inc. | Technology | $4.2B | 0.4% | 14.20M | New | |||
| 39 | $KO | COCA COLA CO | Consumer Staples | $4.2B | 0.4% | 52.03M | New | |||
| 40 | $NFLX | NETFLIX INC | Communication Services | $4.1B | 0.4% | 57.95M | New | |||
| 41 | $WELL | WELLTOWER INC. | Real Estate | $4.1B | 0.4% | 18.15M | New | |||
| 42 | $RY | ROYAL BANK OF CANADA | Financials | $4.1B | 0.4% | 19.91M | New | |||
| 43 | $GEV | GE Vernova Inc. | Industrials | $4.0B | 0.4% | 3.42M | New | |||
| 44 | $TXN | TEXAS INSTRUMENTS INC | Technology | $3.9B | 0.4% | 13.22M | New | |||
| 45 | $CVX | CHEVRON CORP | Energy | $3.8B | 0.4% | 22.96M | New | |||
| 46 | $RTX | RTX Corp | Industrials | $3.8B | 0.4% | 19.95M | New | |||
| 47 | $MS | MORGAN STANLEY | Financials | $3.8B | 0.4% | 17.98M | New | |||
| 48 | $ORCL | ORACLE CORP | Technology | $3.7B | 0.4% | 25.00M | New | |||
| 49 | $PLTR | Palantir Technologies Inc. | Technology | $3.6B | 0.4% | 31.08M | New | |||
| 50 | $DLR | DIGITAL REALTY TRUST, INC. | Real Estate | $3.5B | 0.3% | 19.29M | New | |||
| 51 | $LIN | LINDE PLC | Materials | $3.4B | 0.3% | 6.64M | New | |||
| 52 | $APH | AMPHENOL CORP /DE/ | Technology | $3.4B | 0.3% | 19.19M | New | |||
| 53 | $PANW | Palo Alto Networks Inc | Technology | $3.3B | 0.3% | 9.75M | New | |||
| 54 | $ADI | ANALOG DEVICES INC | Technology | $3.2B | 0.3% | 8.17M | New | |||
| 55 | $TTE | TotalEnergies SE | Energy | $3.2B | 0.3% | 40.55M | New | |||
| 56 | $QCOM | QUALCOMM INC/DE | Technology | $3.0B | 0.3% | 16.21M | New | |||
| 57 | $STX | Seagate Technology Holdings plc | Technology | $3.0B | 0.3% | 3.10M | New | |||
| 58 | $WDC | WESTERN DIGITAL CORP | Technology | $3.0B | 0.3% | 4.63M | New | |||
| 59 | $NEE | NEXTERA ENERGY INC | Utilities | $2.8B | 0.3% | 32.12M | New | |||
| 60 | $CRWD | CrowdStrike Holdings, Inc. | Technology | $2.8B | 0.3% | 3.67M | New | |||
| 61 | $GILD | GILEAD SCIENCES, INC. | Healthcare | $2.8B | 0.3% | 21.97M | New | |||
| 62 | $BLK | BlackRock, Inc. | Financials | $2.7B | 0.3% | 2.83M | New | |||
| 63 | $AXP | AMERICAN EXPRESS CO | Financials | $2.7B | 0.3% | 7.99M | New | |||
| 64 | $C | CITIGROUP INC | Financials | $2.7B | 0.3% | 19.28M | New | |||
| 65 | $MCD | MCDONALDS CORP | Consumer Discretionary | $2.7B | 0.3% | 9.88M | New | |||
| 66 | $PEP | PEPSICO INC | Consumer Staples | $2.6B | 0.3% | 19.42M | New | |||
| 67 | $GS | GOLDMAN SACHS GROUP INC | Financials | $2.6B | 0.3% | 2.60M | New | |||
| 68 | $GLW | CORNING INC /NY | Materials | $2.6B | 0.3% | 10.24M | New | |||
| 69 | $TMO | THERMO FISHER SCIENTIFIC INC. | Healthcare | $2.6B | 0.3% | 5.09M | New | |||
| 70 | $PNC | PNC FINANCIAL SERVICES GROUP, INC. | Financials | $2.5B | 0.3% | 10.15M | New | |||
| 71 | $TD | TORONTO DOMINION BANK | Financials | $2.4B | 0.2% | 20.02M | New | |||
| 72 | $IBM | INTERNATIONAL BUSINESS MACHINES CORP | Technology | $2.4B | 0.2% | 8.42M | New | |||
| 73 | $VMRK | VIVMARK RESIDENTIAL | Real Estate | $2.4B | 0.2% | 34.84M | New | |||
| 74 | $VZ | VERIZON COMMUNICATIONS INC | Communication Services | $2.3B | 0.2% | 54.31M | New | |||
| 75 | $BKNG | Booking Holdings Inc. | Consumer Discretionary | $2.2B | 0.2% | 12.43M | New | |||
| 76 | $TJX | TJX COMPANIES INC /DE/ | Consumer Discretionary | $2.2B | 0.2% | 14.47M | New | |||
| 77 | $DE | DEERE & CO | Industrials | $2.2B | 0.2% | 3.41M | New | |||
| 78 | $BMY | BRISTOL MYERS SQUIBB CO | Healthcare | $2.1B | 0.2% | 36.87M | New | |||
| 79 | $HWM | Howmet Aerospace Inc. | Materials | $2.1B | 0.2% | 7.90M | New | |||
| 80 | $ABT | ABBOTT LABORATORIES | Healthcare | $2.1B | 0.2% | 23.35M | New | |||
| 81 | $ETN | Eaton Corp plc | Industrials | $2.1B | 0.2% | 4.92M | New | |||
| 82 | $SCHW | SCHWAB CHARLES CORP | Financials | $2.1B | 0.2% | 22.66M | New | |||
| 83 | $ANET | Arista Networks, Inc. | Technology | $2.1B | 0.2% | 12.25M | New | |||
| 84 | $UNP | UNION PACIFIC CORP | Industrials | $2.1B | 0.2% | 7.55M | New | |||
| 85 | $AMGN | AMGEN INC | Healthcare | $2.0B | 0.2% | 5.63M | New | |||
| 86 | $COF | CAPITAL ONE FINANCIAL CORP | Financials | $2.0B | 0.2% | 9.98M | New | |||
| 87 | $ISRG | INTUITIVE SURGICAL INC | Healthcare | $2.0B | 0.2% | 4.95M | New | |||
| 88 | $DIS | Walt Disney Co | Communication Services | $1.9B | 0.2% | 20.25M | New | |||
| 89 | $PH | Parker-Hannifin Corp | Industrials | $1.9B | 0.2% | 1.98M | New | |||
| 90 | $UBER | Uber Technologies, Inc | Technology | $1.9B | 0.2% | 26.71M | New | |||
| 91 | $FTNT | Fortinet, Inc. | Technology | $1.9B | 0.2% | 12.45M | New | |||
| 92 | $PGR | PROGRESSIVE CORP/OH/ | Financials | $1.9B | 0.2% | 8.65M | New | |||
| 93 | $CCZ | COMCAST CORP | Communication Services | $1.9B | 0.2% | 76.54M | New | |||
| 94 | $SHOP | SHOPIFY INC. | Technology | $1.9B | 0.2% | 16.41M | New | |||
| 95 | $CVS | CVS HEALTH Corp | Healthcare | $1.9B | 0.2% | 18.04M | New | |||
| 96 | $DELL | Dell Technologies Inc. | Technology | $1.9B | 0.2% | 4.31M | New | |||
| 97 | $LOW | LOWES COMPANIES INC | Consumer Discretionary | $1.8B | 0.2% | 8.27M | New | |||
| 98 | $DHR | DANAHER CORP /DE/ | Healthcare | $1.8B | 0.2% | 9.54M | New | |||
| 99 | $BNY | Bank of New York Mellon Corp | Financials | $1.7B | 0.2% | 11.75M | New | |||
| 100 | $PLD | Prologis, Inc. | Real Estate | $1.7B | 0.2% | 12.52M | New | |||
| 101 | $VLO | VALERO ENERGY CORP/TX | Energy | $1.7B | 0.2% | 6.40M | New | |||
| 102 | $T | AT&T INC. | Communication Services | $1.6B | 0.2% | 79.27M | New | |||
| 103 | $VRT | Vertiv Holdings Co | Technology | $1.6B | 0.2% | 4.86M | New | |||
| 104 | $BNS | BANK OF NOVA SCOTIA | Financials | $1.6B | 0.2% | 18.39M | New | |||
| 105 | $SPGI | S&P Global Inc. | Financials | $1.6B | 0.2% | 3.87M | New | |||
| 106 | $INVH | Invitation Homes Inc. | Real Estate | $1.6B | 0.2% | 51.51M | New | |||
| 107 | $BMO | BANK OF MONTREAL /CAN/ | Financials | $1.6B | 0.1% | 8.80M | New | |||
| 108 | $AJG | Arthur J. Gallagher & Co. | Financials | $1.5B | 0.1% | 6.73M | New | |||
| 109 | $SYK | STRYKER CORP | Healthcare | $1.5B | 0.1% | 4.89M | New | |||
| 110 | $ELV | Elevance Health, Inc. | Healthcare | $1.5B | 0.1% | 3.96M | New | |||
| 111 | $APP | AppLovin Corp | Technology | $1.5B | 0.1% | 2.92M | New | |||
| 112 | $PFE | PFIZER INC | Healthcare | $1.5B | 0.1% | 61.51M | New | |||
| 113 | $VRTX | VERTEX PHARMACEUTICALS INC / MA | Healthcare | $1.5B | 0.1% | 2.97M | New | |||
| 114 | $AVB | AVALONBAY COMMUNITIES INC | Real Estate | $1.5B | 0.1% | 7.69M | New | |||
| 115 | $URI | UNITED RENTALS, INC. | Industrials | $1.4B | 0.1% | 1.27M | New | |||
| 116 | $TT | Trane Technologies plc | Technology | $1.4B | 0.1% | 2.92M | New | |||
| 117 | $INTU | INTUIT INC. | Technology | $1.4B | 0.1% | 5.38M | New | |||
| 118 | $PWR | QUANTA SERVICES, INC. | Industrials | $1.4B | 0.1% | 1.93M | New | |||
| 119 | $CRM | Salesforce, Inc. | Technology | $1.4B | 0.1% | 8.84M | New | |||
| 120 | $SHW | SHERWIN WILLIAMS CO | Materials | $1.4B | 0.1% | 4.02M | New | |||
| 121 | $PSA | Public Storage | Real Estate | $1.4B | 0.1% | 4.34M | New | |||
| 122 | $SO | SOUTHERN CO | Utilities | $1.4B | 0.1% | 14.36M | New | |||
| 123 | $APD | Air Products & Chemicals, Inc. | Materials | $1.4B | 0.1% | 4.67M | New | |||
| 124 | $REG | REGENCY CENTERS CORP | Real Estate | $1.4B | 0.1% | 17.15M | New | |||
| 125 | $EXR | Extra Space Storage Inc. | Real Estate | $1.4B | 0.1% | 9.30M | New | |||
| 126 | $NEM | NEWMONT Corp /DE/ | Materials | $1.3B | 0.1% | 14.35M | New | |||
| 127 | $SBUX | STARBUCKS CORP | Consumer Discretionary | $1.3B | 0.1% | 12.99M | New | |||
| 128 | $TMUS | T-Mobile US, Inc. | Communication Services | $1.3B | 0.1% | 7.91M | New | |||
| 129 | $AEM | AGNICO EAGLE MINES LTD | Materials | $1.3B | 0.1% | 8.44M | New | |||
| 130 | $ENB | ENBRIDGE INC | Energy | $1.3B | 0.1% | 24.02M | New | |||
| 131 | $MDT | Medtronic plc | Healthcare | $1.3B | 0.1% | 16.55M | New | |||
| 132 | $CDNS | CADENCE DESIGN SYSTEMS INC | Technology | $1.3B | 0.1% | 3.40M | New | |||
| 133 | $CMI | CUMMINS INC | Industrials | $1.3B | 0.1% | 1.78M | New | |||
| 134 | $KKR | KKR & Co. Inc. | Financials | $1.3B | 0.1% | 13.80M | New | |||
| 135 | $ORLY | O REILLY AUTOMOTIVE INC | Consumer Discretionary | $1.3B | 0.1% | 13.73M | New | |||
| 136 | $MMM | 3M CO | Healthcare | $1.3B | 0.1% | 7.81M | New | |||
| 137 | $EQIX | EQUINIX INC | Real Estate | $1.3B | 0.1% | 1.20M | New | |||
| 138 | $SPCX | SPACE EXPLORATION TECHNOLOGIES CORP | Technology | $1.2B | 0.1% | 7.28M | New | |||
| 139 | $ROST | ROSS STORES, INC. | Consumer Discretionary | $1.2B | 0.1% | 5.83M | New | |||
| 140 | $NOW | ServiceNow, Inc. | Technology | $1.2B | 0.1% | 12.46M | New | |||
| 141 | $CSX | CSX CORP | Industrials | $1.2B | 0.1% | 25.95M | New | |||
| 142 | $JCI | Johnson Controls International plc | Industrials | $1.2B | 0.1% | 8.26M | New | |||
| 143 | $USB | US BANCORP DE | Financials | $1.2B | 0.1% | 19.94M | New | |||
| 144 | $KMI | KINDER MORGAN, INC. | Energy | $1.2B | 0.1% | 37.60M | New | |||
| 145 | $BN | BROOKFIELD Corp /ON/ | Real Estate | $1.2B | 0.1% | 28.06M | New | |||
| 146 | $UNM | Unum Group | Financials | $1.2B | 0.1% | 13.26M | New | |||
| 147 | $CP | CANADIAN PACIFIC KANSAS CITY LTD/CN | Industrials | $1.2B | 0.1% | 13.67M | New | |||
| 148 | $FITB | FIFTH THIRD BANCORP | Financials | $1.2B | 0.1% | 20.91M | New | |||
| 149 | $UDR | UDR, Inc. | Real Estate | $1.2B | 0.1% | 29.45M | New | |||
| 150 | $FDX | FEDEX CORP | Industrials | $1.2B | 0.1% | 3.72M | New |
What changed in Q2 2026
Against the previous quarter's 13F: 1,616 new, 1 added to, 0 trimmed, 0 sold out. Share-count changes; largest moves by dollar size first.
New positions (1,616)
first bought this quarter
first bought this quarter
first bought this quarter
first bought this quarter
first bought this quarter
first bought this quarter
+1,610 more in the Excel export
Added to (1)
No positions added to this quarter.
Trimmed (0)
No positions trimmed this quarter.
Sold out (0)
No positions sold out this quarter.
Holdings by quarter
Every 13F NORGES BANK has filed, 27 earlier quarters. Pick one to see what it held then.
Is it too late to follow NORGES BANK?
Q2 2026 13F filed with the SEC on Aug 12, 2026. Prices are closing prices as of Oct 26, 2026.
Average quality of NORGES BANK's top 20 holdings: 77/100 (our AI quality score, weighted by position size; 20 of the 20 are scored)
Top 10 since filing
+0.3%
Value-weighted move of the 10 largest stock positions
Turnover
—
Last quarter
Top 10 weight
32%
Share of the stock portfolio in its 10 largest positions
Held 4+ quarters
0%
Share of portfolio value in positions held a year or more
Highest-quality names it owns(among its 100 largest positions)
The 8 highest-scoring companies in this portfolio are a Pro feature.
How these are measured
- Moves since the quarter-end and since the filing date use our own daily closing prices, from the close on (or just before) each date to the latest close.
- Turnover is the lesser of shares bought or sold in a quarter, valued at the quarter-end prices in the 13F, divided by the average of the two quarters' stock portfolio values.
- Quarters held and add/trim streaks count back only through quarters whose filed holdings add up to the filing's own cover-page total (back to Q2 2026 for this fund). A change counts as an add or a trim when the split-adjusted share count moves by more than 1%.
- Estimate, not the fund's reported cost. For each quarter in the current holding period in which the fund's share count rose (split-adjusted), we take that quarter's average daily close and weight it by the shares added; sales do not change an average cost. Quarters where the stock's price history and the 13F's own implied price disagree by more than 2x are left out.
- Put and call option rows report the value of the underlying shares, not a position the fund paid for, so they are left out of all of the above.
Portfolio Overview
NORGES BANK disclosed 1,617 positions worth $1.0T in its Form 13F-HR for Q2 2026, led by $NVDA (NVIDIA CORP) at 6.5% of the equity portfolio, followed by $AAPL and $MSFT. During the quarter the fund opened 1616 new positions and exited 0 — including a new stake in $NVDA. The portfolio is most concentrated in Technology (43.7% of disclosed assets). All figures are sourced directly from NORGES BANK’s Form 13F-HR filing with the SEC under CIK 1374170.
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AI-Powered Hedge Fund Analysis: NORGES BANK
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Every holding in NORGES BANK's portfolio is scored on an AI quality ranking built from its SEC filings (ROIC, FCF margin, revenue growth, institutional flow, earnings quality, shareholder dilution, and more). Track accumulation and distribution quarter over quarter, identify conviction positions, and see AI stock analysis for each position — alongside 8,700+ other institutional filers and 2,800+ AI-ranked companies.