Norway’s $2.3 trillion sovereign wealth fund, the world’s largest, posted a record profit of 1.75 trillion Norwegian crowns (€159.7 billion) for the first half of the year, lifted by technology stocks.
Investing the Norwegian state’s revenues from oil and gas production, the fund owns on average 1.5% of all listed companies globally, making it the world’s largest single investor.
“The result is driven by good returns in the equity market, particularly from Asian technology stocks,” CEO Nicolai Tangen said in a statement accompanying the half-year results.
The fund also announced for the first time that it held a 0.05% stake in SpaceX worth $1.22 billion as of 30 June, in an updated list of its holdings.
That stake was modest when compared with its other tech holdings.
It held a 1.28% stake in Nvidia worth $62 billion, a 1.24% stake in Apple worth $52 billion, a 1.17% stake in Alphabet worth $50 billion, a 1.27% stake in Microsoft worth $35 billion, and a 1.7% stake in Taiwan Semiconductor Manufacturing, worth $34 billion, fund data showed.
Overall the fund is invested in around 7,100 companies globally. It also invests in stocks, property and renewable projects.
