Cisco Systems, Inc.
CH ˙ SWX ˙ US17275R1023
SecurityCH:CSCO / Cisco Systems, Inc.
InstitutionNorges Bank
Latest Disclosed Ownership58,071,810 shares
Latest Disclosed Value $ 4,473,271,524
Norges Bank ownership in CSCO / Cisco Systems, Inc.

On February 10, 2026 - Norges Bank filed a 13F-HR form disclosing ownership of 58,071,810 shares of Cisco Systems, Inc. (CH:CSCO) valued at $4,473,271,524 USD as of December 31, 2025. The entity filed a previous 13F-HR on November 13, 2025 disclosing 0 shares of Cisco Systems, Inc..

Institutional Ownership: 13F and NPORT Filings

The Security and Class in the table below are shown exactly as filed by the investor. We do our best to track continuity of investments through acquisitions, and this will be reflected in the table as changes in names. In addition to descriptive data, performance of the investment is shown over time. To calculate quarterly performance, we first calculate cost basis of the shares purchased during the quarter, then use that to calculate gross profit. Quarterly return is Gross Profit / Starting Portfolio value.

Note that cost basis is calculated and stored in thousands, so small quarterly changes in shares frequently result in a cost basis of zero.

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Disclosed Equity Positions (from 13F/NPORT Filings)
File
Date		 Effective
Date		Form Security Class ID Avg Price
Paid (Est)		 Reported
Shares		 ΔShares ΔShares
(%)		 Reported
Value
(x1000)		 ΔValue
(%)		 Alloc
(%)		 ΔAlloc ΔAlloc (%) Cost Basis
(x1000)		 Unrealized
Gain/Loss
(x1000)
2026-02-10 2025-12-31 13F CISCO SYS COM 17275R102 58,071,810 58,071,810 4,473,272 0.4785
2025-11-13 2025-09-30 13F CISCO SYS COM 17275R102 0 -55,013,326 -100.00 0 -100.00
2025-08-13 2025-06-30 13F CISCO SYS COM 17275R102 55,013,326 1,865,833 3.51 3,816,825 16.38 0.4764
2026-05-11 2025-03-31 13F/A-1 CISCO SYS COM 17275R102 53,147,493 -2,560,359 -4.60 3,279,732 -0.55 0.4603
2025-02-12 2024-12-31 13F CISCO SYS COM 17275R102 55,707,852 3,431,016 6.56 3,297,905 18.54 0.4328
2025-11-12 2024-09-30 13F/A-1 CISCO SYS COM 17275R102 52,276,836 1,308,558 2.57 2,782,173 14.89 0.3886
2024-08-14 2024-06-30 13F CISCO SYS COM 17275R102 50,968,278 3,035,405 6.33 2,421,503 1.22 0.3618
2025-05-14 2024-03-31 13F/A-1 CISCO SYS COM 17275R102 47,932,873 -2,125,295 -4.25 2,392,330 -5.40 0.3776
2024-02-09 2023-12-31 13F CISCO SYS COM 17275R102 50,058,168 5,269,204 11.76 2,528,939 5.03 0.4419
2024-11-13 2023-09-30 13F/A-1 CISCO SYS COM 17275R102 44,788,964 715,392 1.62 2,407,855 5.59 0.4886
2024-08-14 2023-06-30 13F/A-1 CISCO SYS COM 17275R102 44,073,572 735,899 1.70 2,280,367 0.66 0.4500
2024-05-15 2023-03-31 13F/A-1 CISCO SYS COM 17275R102 43,337,673 752,008 1.77 2,265,477 11.67 0.4958
2023-02-14 2022-12-31 13F CISCO SYS COM 17275R102 42,585,665 1,697,625 4.15 2,028,781 24.04 0.4890
2023-11-13 2022-09-30 13F/A-1 CISCO SYS COM 17275R102 40,888,040 1,016,790 2.55 1,635,522 -3.80 0.4348
2023-08-14 2022-06-30 13F/A-1 CISCO SYS COM 17275R102 39,871,250 -114,526 -0.29 1,700,110 -23.75 0.4395
2023-05-12 2022-03-31 13F/A-1 CISCO SYS COM 17275R102 39,985,776 654,388 1.66 2,229,607 -10.54 0.4860
2022-03-09 2021-12-31 13F/A-1 CISCO SYS COM 17275R102 39,331,388 -874,471 -2.17 2,492,430 13.89 0.5125
2022-11-14 2021-09-30 13F/A-1 CISCO SYS COM 17275R102 40,205,859 -1,566,504 -3.75 2,188,405 -1.15 0.4842
2022-08-15 2021-06-30 13F/A-1 CISCO SYS COM 17275R102 41,772,363 -918,170 -2.15 2,213,935 0.29 0.4799
2022-05-09 2021-03-31 13F/A-1 CISCO SYS COM 17275R102 42,690,533 -2,603,785 -5.75 2,207,527 8.91 0.5054
2021-03-02 2020-12-31 13F/A-1 CISCO SYS COM 17275R102 45,294,318 -1,608,716 -3.43 2,026,921 9.71 0.4733
2021-11-12 2020-09-30 13F/A-1 CISCO SYS COM 17275R102 46,903,034 -427,280 -0.90 1,847,511 -16.31 0.4908
2021-08-13 2020-06-30 13F/A-1 CISCO SYS COM 17275R102 47,330,314 -523,419 -1.09 2,207,486 17.35 0.6355
2021-05-07 2020-03-31 13F/A-1 CISCO SYS COM 17275R102 47,853,733 -45,703 -0.10 1,881,130 -18.11 0.6704
2020-03-03 2019-12-31 13F/A-1 CISCO SYS COM 17275R102 47,899,436 46,352 0.10 2,297,257 -2.84 0.6410
2020-11-13 2019-09-30 13F/A-1 CISCO SYSTEMS COM 17275R102 47,853,084 -1,682,151 -3.40 2,364,421 -12.79 0.7241
2020-08-13 2019-06-30 13F/A-1 CISCO SYSTEMS COM 17275R102 49,535,235 -988,808 -1.96 2,711,063 -0.61 0.8378
2020-05-11 2019-03-31 13F/A-2 CISCO SYSTEMS COM 17275R102 50,524,043 565,701 1.13 2,727,792 26.01 0.8813
2019-03-04 2018-12-31 13F/A-1 CISCO SYSTEMS COM 17275R102 49,958,342 656,956 1.33 2,164,695 -9.75 0.8052
2019-12-02 2018-09-30 13F/A-3 CISCO SYSTEMS COM 17275R102 49,301,386 818,218 1.69 2,398,512 14.97 0.7790
2019-12-02 2018-09-30 13F/A-2 CISCO SYSTEMS COM 17275R102 49,301,386 818,218 2,398,512 0.7790
2019-11-12 2018-09-30 13F/A-1 CISCO SYSTEMS COM 17275R102 49,301,386 818,218 2,398,512 0.7790
2019-08-12 2018-06-30 13F/A-1 CISCO SYSTEMS COM 17275R102 48,483,168 -45,042 -0.09 2,086,232 0.23 0.7161
2019-05-15 2018-03-31 13F/A-2 CISCO SYSTEMS COM 17275R102 48,528,210 2,357,875 5.11 2,081,375 17.70 0.7531
2018-03-05 2017-12-31 13F/A-1 CISCO SYSTEMS COM 17275R102 46,170,335 706,190 1.55 1,768,324 15.66 0.6338
2018-11-13 2017-09-30 13F/A-1 CISCO SYSTEMS COM 17275R102 45,464,145 -400,000 -0.87 1,528,959 6.51 0.5802
2018-07-24 2017-06-30 13F/A-1 CISCO SYSTEMS COM 17275R102 45,864,145 118,544 0.26 1,435,547 -7.16 0.5699
2018-05-11 2017-03-31 13F/A-1 CISCO SYSTEMS COM 17275R102 45,745,601 2,516,102 5.82 1,546,201 18.36 0.6345
2017-03-02 2016-12-31 13F/A-1 CISCO SYSTEMS COM 17275R102 43,229,499 -569,443 -1.30 1,306,395 -1.55 0.5710
2017-11-13 2016-09-30 13F/A-1 CISCO SYSTEMS COM 17275R102 43,798,942 357,693 0.82 1,326,934 6.47 0.6272
2017-08-09 2016-06-30 13F/A-1 CISCO SYSTEMS COM 17275R102 43,441,249 -613,857 -1.39 1,246,330 -0.63 0.5922
2017-05-10 2016-03-31 13F/A-1 CISCO SYSTEMS COM 17275R102 44,055,106 -4,357,754 -9.00 1,254,249 -4.59 0.6169
2016-04-18 2015-12-31 13F/A-2 CISCO SYSTEMS COM 17275R102 48,412,860 1,854,528 3.98 1,314,651 7.57 0.6535
2016-03-16 2015-12-31 13F/A-1 CISCO SYSTEMS COM 17275R102 48,412,860 0 1,314,651 0.6593
2016-11-14 2015-09-30 13F/A-2 CISCO SYSTEMS COM 17275R102 46,558,332 154,202 0.33 1,222,156 -4.09 0.6405
2016-08-12 2015-06-30 13F/A-1 CISCO SYSTEMS COM 17275R102 46,404,130 310,881 0.67 1,274,257 0.44 0.6369
2016-05-13 2015-03-31 13F/A-1 CISCO SYSTEMS COM 17275R102 46,093,249 2,060,000 4.68 1,268,717 3.59 0.6217
2015-03-19 2014-12-31 13F/A-1 CISCO SYSTEMS COM 17275R102 44,033,249 2,043,482 1,224,784 0.6247
2016-04-18 2014-12-31 13F/A-2 CISCO SYSTEMS COM 17275R102 44,033,249 2,043,482 4.87 1,224,784 15.89 0.6224
2015-11-12 2014-09-30 13F/A-1 CISCO SYSTEMS COM 17275R102 41,989,767 830,102 2.02 1,056,883 3.33 0.5726
2015-08-10 2014-06-30 13F/A-1 CISCO SYSTEMS COM 17275R102 41,159,665 -69,622 -0.17 1,022,818 10.70 0.5519
2015-05-12 2014-03-31 13F/A-1 CISCO SYSTEMS COM 17275R102 41,229,287 2,431,396 6.27 923,948 6.08 0.5214
2014-03-07 2013-12-31 13F/A-1 CISCO SYSTEMS COM 17275R102 38,797,891 -6,598,715 871,013 0.5328
2014-03-20 2013-12-31 13F/A-2 CISCO SYSTEMS COM 17275R102 38,797,891 0 871,013 0.5125
2014-05-12 2013-12-31 13F/A-3 CISCO SYSTEMS COM 17275R102 38,797,891 -6,598,715 -14.54 871,013 -18.08 0.5016
2014-11-14 2013-09-30 13F/A-1 CISCO SYSTEMS COM 17275R102 45,396,606 1,557,950 3.55 1,063,189 -0.24 0.6204
2014-08-14 2013-06-30 13F/A-1 CISCO SYSTEMS COM 17275R102 43,838,656 130,000 0.30 1,065,718 16.61 0.6619
2014-04-04 2013-03-31 13F/A-1 CISCO SYSTEMS COM 17275R102 43,708,656 1,916,506 913,948 0.6055
2014-05-12 2013-03-31 13F/A-2 CISCO SYSTEMS COM 17275R102 43,708,656 1,916,506 4.59 913,948 14.56 0.5927
2013-11-14 2012-09-30 13F/A-1 CISCO SYSTEMS COM 17275R102 41,792,150 162,250 0.39 797,813 20.15 0.5377
2013-08-15 2012-06-30 13F/A-1 CISCO SYSTEMS COM 17275R102 41,629,900 41,629,900 663,997 0.5326
Legend
Shares
The total number of shares held by the institution at the end of the reporting period (the effective date). This is provided in the filing.
Value
The total value of the shares as of the effective date. This is provided in the filing.
Avg. Share Price
The weighted average share price of the shares held by the institution. We use FIFO accounting to determine this price
Class
This is the security class as indicated by the filer. There are a variety of values for this field. Common values include "EC" = equity common, "EP" - equity preferred
Allocation (%)
The percent of the institution's portfolio that this position represents. This is provided in NPORT filings. For 13F filings, we calculate it.
Change in Allocation
The change in allocation from the prior reporting period. This is calculated as current allocation - prior allocation.
Change in Allocation (%)
The percent change in allocation from the prior reporting period. This is calculated as (current allocation - prior allocation) / prior allocation.
Cost Basis
The total cost of the shares held. This is calculated as reported shares * avg. share price
Unrealized Gain/Loss
This is the market value of the position as of the effective date minus the cost basis.