GPFG · Norway's Government Pension Fund Global
Managed by NBIM · every position disclosed since 1998 · equities with ownership & voting stakes
Managed by NBIM · every position disclosed since 1998 · equities with ownership & voting stakes
Norway's oil fund publishes every holding, every year, back to 1998 — with its exact ownership and voting stake in each company. This rebuilds all 28 vintages: the growth from $22bn to $2tn, the drift toward America, and the 7,201 companies it holds today.
Disclosed securities by year. The equity share rose from ~40% to ~72% (the mandate moved 40→60→70% equities in 1998/2007/2017); the fund's market-value-weighted average ownership of the companies it holds went from 0.06% to 1.66% — a 28× deepening of its claim on the world's listed equity.
NBIMHoldings API — nbim.no/en/investments/all-investments (per-year CSV/XLSX: /api/investments/v2/report/?assetType=eq|fi&date=YYYY-12-31&fileType=csv)
NBIMEquity fields: name, country, industry, market value (NOK & USD), ownership % and voting %. Fixed income is issuer-level (no coupon/maturity — unlike GPIF's file, no bond-level rate-risk rebuild is possible from the public data alone).
NOTETotals here are sums of the disclosed securities files ($1.505tn eq + $0.574tn FI at end-2025); NBIM's headline fund value (≈$2.2tn) additionally includes unlisted real estate, renewable infrastructure and cash. History aggregates computed from all 28 annual files. Sector taxonomy changed over time (ICB → GICS-like) — kept as reported.
