Norges Bank Investment Management Portfolio
Norges Bank Investment Management is managed by Norges Bank; 13F filer (CIK 0001374170).
Q2 2026 · 1611 positions · Total reported value $1,001.73B · Top-10 concentration 32.4%
Turnover: 65.4% · 213 new · 779 cut · 178 exited
Active Share (vs S&P 500): 20.7% · vs QQQ: 51.1% — share of the book that differs from index weights (higher = more active) · ranking
In its Q2 2026 13F filing, Norges Bank Investment Management disclosed 1611 equity positions with a combined reported value of $1,001.73B. The filing implies a moderately concentrated portfolio: its ten largest positions account for 32.4% of reported value. HoldingsHub classifies the profile as Mega / Technology Tilt / High Turnover.
The largest disclosed positions as of Q2 2026 were NVDA ($65.22B), AAPL ($55.19B), MSFT ($38.32B). By sector, the heaviest allocations are Technology 42.4%, Consumer Discretionary 14.0%. Versus the prior quarter, allocation shifted toward Technology (+2.7pp), Energy (+2.3pp) and away from Financials (-0.9pp), Consumer Discretionary (-1.5pp).
Versus the prior quarter, Norges Bank Investment Management opened 213 new positions, trimmed 779 and fully exited 178, a turnover rate of 65.4% of positions. The portfolio's overlap with the prior quarter was 78% of names.
Figures come from the fund's SEC Form 13F filing. 13F reports are filed within 45 days of quarter end and cover long positions of $100,000 or more; they exclude short positions and non-13F asset classes, so treat this page as a quarter-end snapshot rather than the fund's live book.
Sector Allocation
| # | Symbol | Company | Shares | Value | Weight | Change |
|---|---|---|---|---|---|---|
| 1 | NVDA | NVIDIA CORPORATION | 325.95M | $65.22B | 6.51% | Reduce |
| 2 | AAPL | APPLE INC | 190.73M | $55.19B | 5.51% | Reduce |
| 3 | MSFT | MICROSOFT CORP | 102.73M | $38.32B | 3.83% | Reduce |
| 4 | AMZN | AMAZON COM INC | 140.57M | $33.50B | 3.34% | Reduce |
| 5 | GOOGL | ALPHABET INC | 80.93M | $28.92B | 2.89% | Reduce |
| 6 | GOOG | ALPHABET INC | 74.79M | $26.43B | 2.64% | Add |
| 7 | AVGO | BROADCOM INC | 65.97M | $24.92B | 2.49% | Reduce |
| 8 | META | META PLATFORMS INC. CLASS A | 32.73M | $18.43B | 1.84% | Reduce |
| 9 | MU | MICRON TECHNOLOGY INC | 15.18M | $17.52B | 1.75% | Reduce |
| 10 | TSLA | TESLA INC | 38.81M | $16.32B | 1.63% | Add |
| 11 | LLY | ELI LILLY & CO | 11.47M | $13.76B | 1.37% | Reduce |
| 12 | AMD | ADVANCED MICRO DEVICES INC | 23.36M | $13.57B | 1.35% | Add |
| 13 | JPM | JPMORGAN CHASE & CO | 36.12M | $11.82B | 1.18% | Add |
| 14 | INTC | INTEL CORP | 61.71M | $8.62B | 0.86% | Add |
| 15 | XOM | EXXON MOBIL CORP | 61.00M | $8.34B | 0.83% | Reduce |
| 16 | AMAT | APPLIED MATLS INC | 11.31M | $8.17B | 0.82% | Add |
| 17 | JNJ | JOHNSON & JOHNSON | 31.83M | $8.08B | 0.81% | Reduce |
| 18 | LRCX | LAM RESEARCH CORP | 18.12M | $7.85B | 0.78% | Reduce |
| 19 | BRKA | BERKSHIRE HATHAWAY INC DEL | 10.37K | $7.77B | 0.78% | Add |
| 20 | WMT | WALMART INC | 57.42M | $6.50B | 0.65% | Reduce |
| 21 | CSCO | CISCO SYS INC | 54.84M | $6.44B | 0.64% | Reduce |
| 22 | ABBV | ABBVIE INC | 25.55M | $6.43B | 0.64% | Hold |
| 23 | AZN | ASTRAZENECA PLC | 33.86M | $6.33B | 0.63% | Add |
| 24 | COST | COSTCO WHOLESALE CORPORATION | 6.47M | $6.06B | 0.60% | Add |
| 25 | MA | MASTERCARD INCORPORATED | 11.75M | $6.04B | 0.60% | Hold |
| 26 | KLAC | KLA CORP | 19.57M | $5.90B | 0.59% | Add |
| 27 | V | VISA INC | 16.22M | $5.56B | 0.56% | Reduce |
| 28 | UNH | UNITEDHEALTH GROUP INCORPORATED | 12.74M | $5.29B | 0.53% | Reduce |
| 29 | GE | GE AEROSPACE | 13.69M | $5.12B | 0.51% | Reduce |
| 30 | BAC | BANK OF AMER CORP | 83.79M | $4.77B | 0.48% | Reduce |
| 31 | MRK | MERCK & CO INC | 36.98M | $4.75B | 0.47% | Reduce |
| 32 | UBS | UBS GROUP AG | 95.85M | $4.75B | 0.47% | Reduce |
| 33 | HD | HOME DEPOT INC | 13.38M | $4.72B | 0.47% | Reduce |
| 34 | SNDK | SANDISK CORP | 2.06M | $4.67B | 0.47% | Reduce |
| 35 | PG | PROCTER & GAMBLE CO | 31.83M | $4.67B | 0.47% | Reduce |
| 36 | WFC | WELLS FARGO & CO | 55.49M | $4.59B | 0.46% | Add |
| 37 | BRKB | BERKSHIRE HATHAWAY INC DEL | 8.79M | $4.40B | 0.44% | Add |
| 38 | MRVL | MARVELL TECHNOLOGY INC | 14.20M | $4.23B | 0.42% | Add |
| 39 | KO | COCA COLA CO | 52.03M | $4.23B | 0.42% | Reduce |
| 40 | NFLX | NETFLIX INC. | 57.95M | $4.14B | 0.41% | Reduce |
| 41 | WELL | WELLTOWER INC | 18.15M | $4.12B | 0.41% | Reduce |
| 42 | RY | ROYAL BK CDA | 19.91M | $4.12B | 0.41% | Reduce |
| 43 | GEV | GE VERNOVA INC | 3.42M | $4.02B | 0.40% | Reduce |
| 44 | TXN | TEXAS INSTRS INC | 13.22M | $3.94B | 0.39% | Reduce |
| 45 | CVX | CHEVRON CORPORATION | 22.96M | $3.81B | 0.38% | Reduce |
| 46 | RTX | RTX CORPORATION | 19.95M | $3.79B | 0.38% | Add |
| 47 | MS | MORGAN STANLEY | 17.98M | $3.76B | 0.38% | Add |
| 48 | ORCL | ORACLE CORP | 25.00M | $3.66B | 0.37% | Add |
| 49 | PLTR | PALANTIR TECHNOLOGIES INC | 31.08M | $3.63B | 0.36% | Add |
| 50 | DLR | DIGITAL RLTY TR INC | 19.29M | $3.46B | 0.35% | Reduce |