2025 Q4 Portfolio Activity
In 2025 Q4, NORGES BANK maintained a portfolio of 1853 distinct positions. The most significant new addition was TOTALENERGIES SE, now representing 0.21% of the total fund value. They heavily accumulated shares in ALPHABET INC, increasing the position by 137.9%. The fund also reduced its exposure to UBS GROUP AG by 27.1%.
Position History
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Total Positions
1853
Quarter
2025 Q4
Top Holding
NVDA (6.7%)
Top 10 Concentration
34.6%
Turnover Rate
23.4%
Sector HHI
0.18
Items per page:
Showing 1-50 of 1853
NORGES BANK Full Holdings List — 2025 Q4
| Stock | History | Sector / Type | Port % | Prev % | Rank / Prev | Conviction | Change | % Change | Influence | Shares | Mkt Value | Avg Cost | Price Held | 1st Owned | Source | Source Date | Date Reported | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
|
NVDA
NVIDIA CORPORAT...
|
Technology | 6.66% | 6.41% |
#1
Prev: #1
|
5.2 |
—
|
8,494,803 | 2.6% |
P
S
|
333,748,700 | $62,244,132,550 |
$116.68
+75.6%
|
2006 Q4 | 13F Filing | 2025-12-31 | 2026-02-10 | ||
|
AAPL
APPLE INC
|
Technology | 5.59% | 4.86% |
#2
1
Prev: #3
|
4.2 |
—
|
2,450,266 | 1.3% |
P
S
|
192,255,086 | $52,266,467,680 |
$137.99
+111.1%
|
2006 Q4 | 13F Filing | 2025-12-31 | 2026-02-10 | ||
|
MSFT
MICROSOFT CORP
|
Technology | 5.42% | 6.30% |
#3
1
Prev: #2
|
3.7 |
—
|
3,248,047 | 3.2% |
P
S
|
104,761,241 | $50,664,631,372 | 2006 Q4 | 13F Filing | 2025-12-31 | 2026-02-10 | |||
|
AMZN
AMAZON COM INC
|
Consumer Cyclical | 3.52% | 3.42% |
#4
Prev: #4
|
3.9 |
—
|
17,334,851 | 13.9% |
P
S
|
142,399,855 | $32,868,734,531 | 2006 Q4 | 13F Filing | 2025-12-31 | 2026-02-10 | |||
|
GOOGL
ALPHABET INC
|
Communication Services | 3.27% | 2.74% |
#5
1
Prev: #6
|
1.8 |
—
|
-26,966,798 | -21.7% |
P
S
|
97,553,478 | $30,534,238,614 | 2022 Q4 | 13F Filing | 2025-12-31 | 2026-02-10 | |||
|
AVGO
BROADCOM INC
|
Technology | 2.59% | 2.32% |
#6
1
Prev: #7
|
1.5 |
—
|
2,670,119 | 4.0% |
P
S
|
70,072,800 | $24,252,196,080 | 2022 Q4 | 13F Filing | 2025-12-31 | 2026-02-10 | |||
|
META
META PLATFORMS ...
|
Communication Services | 2.37% | 2.89% |
#7
2
Prev: #5
|
2.9 |
—
|
2,187,128 | 7.0% |
P
S
|
33,559,173 | $22,152,074,506 | 2022 Q4 | 13F Filing | 2025-12-31 | 2026-02-10 | |||
|
GOOG
ALPHABET INC
|
Communication Services | 1.94% | 0.54% |
#8
16
Prev: #24
|
3.8 |
—
|
33,427,539 | 137.9% |
P
S
|
57,659,864 | $18,093,665,323 | 2006 Q4 | 13F Filing | 2025-12-31 | 2026-02-10 | |||
|
TSLA
TESLA INC
|
Consumer Cyclical | 1.83% | 1.48% |
#9
1
Prev: #8
|
1.2 |
—
|
814,141 | 2.2% |
P
S
|
38,086,143 | $17,128,100,230 | 2022 Q4 | 13F Filing | 2025-12-31 | 2026-02-10 | |||
|
LLY
ELI LILLY & CO
|
Healthcare | 1.39% | 1.10% |
#10
Prev: #10
|
2.6 |
—
|
750,476 | 6.6% |
P
S
|
12,074,882 | $12,976,634,188 | 2006 Q4 | 13F Filing | 2025-12-31 | 2026-02-10 | |||
|
JPM
JPMORGAN CHASE ...
|
Financial Services | 1.22% | 1.29% |
#11
2
Prev: #9
|
1.0 |
—
|
-143,060 | -0.4% |
P
S
|
35,368,681 | $11,396,496,392 | 2006 Q4 | 13F Filing | 2025-12-31 | 2026-02-10 | |||
|
BRK/A
BERKSHIRE HATHA...
|
Financial Services | 0.83% | 0.91% |
#12
Prev: #12
|
0.8 |
—
|
260 | 2.6% |
P
S
|
10,308 | $7,780,478,400 | 2006 Q4 | 13F Filing | 2025-12-31 | 2026-02-10 | |||
|
XOM
EXXON MOBIL COR...
|
Energy | 0.82% | 0.77% |
#13
2
Prev: #15
|
2.3 |
—
|
6,185,309 | 10.8% |
P
S
|
63,362,667 | $7,625,063,347 | 2006 Q4 | 13F Filing | 2025-12-31 | 2026-02-10 | |||
|
JNJ
JOHNSON & JOHNS...
|
Healthcare | 0.74% | 0.61% |
#14
9
Prev: #23
|
0.8 |
—
|
1,530,760 | 4.8% |
P
S
|
33,459,884 | $6,924,522,994 | 2006 Q4 | 13F Filing | 2025-12-31 | 2026-02-10 | |||
|
MA
MASTERCARD INCO...
|
Financial Services | 0.72% | 0.84% |
#15
1
Prev: #14
|
0.8 |
—
|
-221,769 | -1.9% |
P
S
|
11,746,265 | $6,705,707,763 | 2007 Q1 | 13F Filing | 2025-12-31 | 2026-02-10 | |||
|
WMT
WALMART INC
|
Consumer Defensive | 0.69% | 0.67% |
#16
1
Prev: #17
|
2.3 |
—
|
3,074,427 | 5.6% |
P
S
|
57,970,822 | $6,458,529,279 | 2022 Q4 | 13F Filing | 2025-12-31 | 2026-02-10 | |||
|
MU
MICRON TECHNOLO...
|
Technology | 0.69% | 0.25% |
#17
56
Prev: #73
|
2.8 |
—
|
6,470,511 | 40.3% |
P
S
|
22,541,101 | $6,433,455,636 | 2006 Q4 | 13F Filing | 2025-12-31 | 2026-02-10 | |||
|
V
VISA INC
|
Financial Services | 0.63% | 0.88% |
#18
5
Prev: #13
|
0.8 |
—
|
-3,054,401 | -15.4% |
P
S
|
16,759,538 | $5,877,737,572 | 2008 Q2 | 13F Filing | 2025-12-31 | 2026-02-10 | |||
|
ABBV
ABBVIE INC
|
Healthcare | 0.63% | 0.54% |
#19
6
Prev: #25
|
2.3 |
—
|
2,566,724 | 11.1% |
P
S
|
25,668,761 | $5,865,055,201 | 2022 Q4 | 13F Filing | 2025-12-31 | 2026-02-10 | |||
|
NFLX
NETFLIX INC
|
Communication Services | 0.62% | 0.99% |
#20
9
Prev: #11
|
3.2 |
—
|
55,973,215 | 945.3% |
P
S
|
61,894,705 | $5,803,247,541 | 2007 Q2 | 13F Filing | 2025-12-31 | 2026-02-10 | |||
|
WELL
WELLTOWER INC
|
Real Estate | 0.58% | 0.61% |
#21
1
Prev: #20
|
0.7 |
—
|
-2,446,916 | -7.7% |
P
S
|
29,450,268 | $5,466,264,243 | 2022 Q4 | 13F Filing | 2025-12-31 | 2026-02-10 | |||
|
COST
COSTCO WHSL COR...
|
Consumer Defensive | 0.56% | 0.71% |
#22
6
Prev: #16
|
0.7 |
—
|
274,908 | 4.8% |
P
S
|
6,024,787 | $5,195,414,822 | 2006 Q4 | 13F Filing | 2025-12-31 | 2026-02-10 | |||
|
PLTR
PALANTIR TECHNO...
|
Technology | 0.55% | 0.41% |
#23
12
Prev: #35
|
2.2 |
—
|
4,708,806 | 19.4% |
P
S
|
28,971,257 | $5,149,640,932 | 2022 Q4 | 13F Filing | 2025-12-31 | 2026-02-10 | |||
|
AMD
ADVANCED MICRO ...
|
Technology | 0.53% | 0.39% |
#24
14
Prev: #38
|
2.2 |
—
|
1,208,204 | 5.5% |
P
S
|
23,016,960 | $4,929,312,154 | 2006 Q4 | 13F Filing | 2025-12-31 | 2026-02-10 | |||
|
UBS
UBS GROUP AG
|
Financial Services | 0.52% | 0.61% |
#25
3
Prev: #22
|
0.2 |
—
|
-39,109,366 | -27.1% |
P
S
|
104,982,026 | $4,889,413,254 | 2022 Q4 | 13F Filing | 2025-12-31 | 2026-02-10 | |||
|
HD
HOME DEPOT INC
|
Consumer Cyclical | 0.52% | 0.61% |
#26
5
Prev: #21
|
2.2 |
—
|
770,355 | 5.8% |
P
S
|
14,095,697 | $4,850,329,338 | 2006 Q4 | 13F Filing | 2025-12-31 | 2026-02-10 | |||
|
BAC
BANK AMERICA CO...
|
Financial Services | 0.51% | 0.64% |
#27
8
Prev: #19
|
0.7 |
—
|
-20,796,369 | -19.3% |
P
S
|
86,803,816 | $4,774,209,880 | 2006 Q4 | 13F Filing | 2025-12-31 | 2026-02-10 | |||
|
PG
PROCTER AND GAM...
|
Consumer Defensive | 0.50% | 0.64% |
#28
10
Prev: #18
|
0.7 |
—
|
541,485 | 1.7% |
P
S
|
32,550,300 | $4,664,783,493 | 2006 Q4 | 13F Filing | 2025-12-31 | 2026-02-10 | |||
|
WFC
WELLS FARGO CO ...
|
Financial Services | 0.48% | 0.50% |
#29
2
Prev: #27
|
0.7 |
—
|
-1,389,123 | -2.8% |
P
S
|
48,418,055 | $4,512,562,726 | 2006 Q4 | 13F Filing | 2025-12-31 | 2026-02-10 | |||
|
CSCO
CISCO SYS INC
|
Technology | 0.48% | 0.48% |
#30
Prev: #30
|
2.2 |
—
|
3,058,484 | 5.6% |
P
S
|
58,071,810 | $4,473,271,524 | 2006 Q4 | 13F Filing | 2025-12-31 | 2026-02-10 | |||
|
GE
GE AEROSPACE
|
Industrials | 0.48% | 0.43% |
#31
3
Prev: #34
|
2.2 |
—
|
1,185,732 | 9.0% |
P
S
|
14,429,555 | $4,444,735,827 | 2006 Q4 | 13F Filing | 2025-12-31 | 2026-02-10 | |||
|
UNH
UNITEDHEALTH GR...
|
Healthcare | 0.47% | 0.48% |
#32
3
Prev: #29
|
2.2 |
—
|
956,769 | 7.8% |
P
S
|
13,256,692 | $4,376,166,596 | 2006 Q4 | 13F Filing | 2025-12-31 | 2026-02-10 | |||
|
ORCL
ORACLE CORP
|
Technology | 0.46% | 0.53% |
#33
7
Prev: #26
|
2.2 |
—
|
2,691,012 | 13.8% |
P
S
|
22,246,323 | $4,336,030,816 | 2006 Q4 | 13F Filing | 2025-12-31 | 2026-02-10 | |||
|
BRK/B
BERKSHIRE HATHA...
|
Financial Services | 0.46% | 0.45% |
#34
2
Prev: #32
|
2.2 |
—
|
1,084,968 | 14.7% |
P
S
|
8,464,122 | $4,254,490,923 | 2022 Q4 | 13F Filing | 2025-12-31 | 2026-02-10 | |||
|
MRK
MERCK & CO INC
|
Healthcare | 0.43% | 0.36% |
#35
5
Prev: #40
|
2.2 |
—
|
1,870,213 | 5.2% |
P
S
|
37,981,502 | $3,997,932,901 | 2006 Q4 | 13F Filing | 2025-12-31 | 2026-02-10 | |||
|
KO
COCA COLA CO
|
Consumer Defensive | 0.41% | 0.48% |
#36
8
Prev: #28
|
0.7 |
—
|
932,668 | 1.7% |
P
S
|
55,296,911 | $3,865,807,048 | 2006 Q4 | 13F Filing | 2025-12-31 | 2026-02-10 | |||
|
CVX
CHEVRON CORP NE...
|
Energy | 0.40% | 0.34% |
#37
7
Prev: #44
|
2.7 |
—
|
5,451,569 | 28.7% |
P
S
|
24,457,623 | $3,727,586,321 | 2006 Q4 | 13F Filing | 2025-12-31 | 2026-02-10 | |||
|
LRCX
LAM RESEARCH CO...
|
Technology | 0.39% | 0.24% |
#38
38
Prev: #76
|
2.2 |
—
|
1,832,293 | 9.4% |
P
S
|
21,295,871 | $3,645,427,198 | 2006 Q4 | 13F Filing | 2025-12-31 | 2026-02-10 | |||
|
RY
ROYAL BK CDA
|
Financial Services | 0.37% | 0.32% |
#39
9
Prev: #48
|
0.6 |
—
|
658,304 | 3.3% |
P
S
|
20,368,046 | $3,472,381,871 | 2006 Q4 | 13F Filing | 2025-12-31 | 2026-02-10 | |||
|
DLR
DIGITAL RLTY TR...
|
Real Estate | 0.36% | 0.48% |
#40
9
Prev: #31
|
0.6 |
—
|
150,776 | 0.7% |
P
S
|
21,995,957 | $3,402,994,507 | 2007 Q2 | 13F Filing | 2025-12-31 | 2026-02-10 | |||
|
BKNG
BOOKING HOLDING...
|
Consumer Cyclical | 0.35% | 0.28% |
#41
22
Prev: #63
|
3.1 |
—
|
228,900 | 59.9% |
P
S
|
610,801 | $3,271,040,919 | 2022 Q4 | 13F Filing | 2025-12-31 | 2026-02-10 | |||
|
LIN
LINDE PLC
|
Basic Materials | 0.35% | 0.39% |
#42
5
Prev: #37
|
2.1 |
—
|
1,009,854 | 15.3% |
P
S
|
7,614,508 | $3,246,750,066 | 2022 Q4 | 13F Filing | 2025-12-31 | 2026-02-10 | |||
|
CRM
SALESFORCE INC
|
Technology | 0.34% | 0.35% |
#43
1
Prev: #42
|
2.1 |
—
|
1,651,621 | 15.9% |
P
S
|
12,015,218 | $3,182,951,400 | 2007 Q2 | 13F Filing | 2025-12-31 | 2026-02-10 | |||
|
RTX
RTX CORPORATION
|
Industrials | 0.34% | 0.29% |
#44
10
Prev: #54
|
2.1 |
—
|
1,112,237 | 6.9% |
P
S
|
17,271,681 | $3,167,626,295 | 2022 Q4 | 13F Filing | 2025-12-31 | 2026-02-10 | |||
|
TMO
THERMO FISHER S...
|
Healthcare | 0.33% | 0.28% |
#45
14
Prev: #59
|
0.6 |
—
|
-282,434 | -5.1% |
P
S
|
5,302,863 | $3,072,743,965 | 2006 Q4 | 13F Filing | 2025-12-31 | 2026-02-10 | |||
|
INTU
INTUIT
|
Technology | 0.33% | 0.41% |
#46
10
Prev: #36
|
2.1 |
—
|
466,811 | 11.2% |
P
S
|
4,617,021 | $3,058,407,051 | 2006 Q4 | 13F Filing | 2025-12-31 | 2026-02-10 | |||
|
APH
AMPHENOL CORP N...
|
Technology | 0.33% | 0.26% |
#47
22
Prev: #69
|
2.1 |
—
|
1,276,265 | 6.0% |
P
S
|
22,585,063 | $3,052,145,414 | 2006 Q4 | 13F Filing | 2025-12-31 | 2026-02-10 | |||
|
PEP
PEPSICO INC
|
Consumer Defensive | 0.32% | 0.29% |
#48
9
Prev: #57
|
2.1 |
—
|
3,383,432 | 19.2% |
P
S
|
21,034,095 | $3,018,813,314 | 2006 Q4 | 13F Filing | 2025-12-31 | 2026-02-10 | |||
|
KLAC
KLA CORP
|
Technology | 0.32% | 0.20% |
#49
44
Prev: #93
|
2.6 |
—
|
673,172 | 37.7% |
P
S
|
2,457,794 | $2,986,416,334 | 2006 Q4 | 13F Filing | 2025-12-31 | 2026-02-10 | |||
|
ABT
ABBOTT LABS
|
Healthcare | 0.31% | 0.38% |
#50
11
Prev: #39
|
2.1 |
—
|
1,207,025 | 5.4% |
P
S
|
23,456,714 | $2,938,891,697 | 2006 Q4 | 13F Filing | 2025-12-31 | 2026-02-10 |
Showing 1-50 of 1853 holdings