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Built from publicly disclosed institutional and insider activity. Informational purposes only - not investment advice.OpenStocks · v0.1
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  3. Norges Bank (Norway SWF)
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  • Portfolio1.6k
  • Performance40Q
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  • Activity69k
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Sovereign Wealth · CIK 0001374170

Norges Bank

Norway SWF
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Norges Bank runs Norway SWF, a sovereign wealth overseeing $934.76B in disclosed equity holdings (SEC CIK 0001374170). The latest portfolio (2025Q4) discloses 1577 positions across 11 sectors, with the largest positions in NVDA, AAPL and MSFT. On a mark-to-market basis the tracked portfolio has returned 20.7% over the past year. OpenStocks tracks 40 consecutive quarterly snapshots for this manager — every position change, new entry, and exit is logged below.

Track Norges's filingsView holdings↓
Portfolio
$934.76B
Positions
1577
Quarter
2025Q4
Filings tracked
40
1Y+20.7%Since filing+130.2%Full performance →
Quarter
2025Q42025Q32025Q22025Q12024Q42024Q32024Q22024Q12023Q42023Q32023Q22023Q1
1-Yearactual
+20.73%
since 2024Q4
3-Year
—
insufficient history
5-Year
—
insufficient history
10-Year
—
insufficient history

Methodology: TWR tiles chain-link quarterly mark-to-market across consecutive filings (GIPS-compliant) · actual tiles use a real 13F snapshot marked to today · backtest tiles re-price the current book to historical prices.

Performance overview

We mark Norges Bank (Norway SWF)'s disclosed portfolio to current market prices and compare its growth against the S&P 500 (SPY). Norges’s portfolio is 20.7% over the last 12 months · 130.2% since 2016Q1.

Portfolio growth vs SPY
Rebased to 100 at 2021Q2 · through 2025Q4
Norges Bank
+48.0%
SPY
+69.5%
Alpha
-21.6pp
631352082803522021Q22023Q32025Q4
Portfolio line is the GIPS-compliant time-weighted return chain-linked across the manager's quarterly 13F filings — unaffected by capital flows. Quarters with insufficient held-through coverage are skipped, which can briefly flatten the line.
Capital flow per quarter
BuysSellsNet
+$31.78T+$15.89T$0-$15.89T-$31.78T'19Q4'20Q1'20Q2'20Q3'20Q4'21Q1'21Q2'21Q3'21Q4'22Q1'22Q2'22Q3'22Q4'23Q1'23Q2'23Q3
Latest · 2023Q3
+$4.47B
Lifetime buys
$53.11T
Lifetime sells
$33.32T
Portfolio over time
AUMPositions
$0$151.39T$302.78T$458.76T22701966'19Q4'21Q3'23Q3
QoQ AUM
-2.7%
16Q lifetime AUM
+37.5%
QoQ positions
-41
16Q lifetime positions
-108
Position concentration
1966 positions
Top 1
6%
of book
  • Top 16%$29.62BAAPL
  • Top 2-514%$69.23BMSFT, AMZN, GOOGL
  • Top 6-107%$32.91BMETA, TSLA, XOM
  • Top 11-208%$39.31BJPM, UBS GROUP AG, MA
  • Rest65%$321.73BRest of port