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Norway sovereign wealth fund posts record 1.753 trillion NOK profit
Norway’s sovereign wealth fund, managed by Norges Bank Investment Management, reported a record profit of 1.753 trillion NOK (approximately $184.3 billion) for the first half of 2026. This represents a 9.4 percent return, driven largely by strong performance in global equity markets, specifically Asian technology stocks.
The fund's total market value reached approximately 22.695 trillion NOK by the end of June 2026. Notably, the fund disclosed a $1.22 billion investment in SpaceX, representing a 0.05 percent stake.
Despite the record gains, CEO Nicolai Tangen issued warnings regarding potential volatility. He noted that the fund's high concentration in technology companies poses risks, such as the bursting of an AI bubble. Tangen also cautioned that extreme scenarios, including a US-China trade war or a market crash similar to 1929, could significantly impact the portfolio, potentially erasing up to 80 percent of its equity value.
Entities
Aegea Saneamento · Alfredo Setubal · Alpargatas · Alphabet · Apple · B3 · B3 S.A. · BNDES · BTG Pactual · Caixa Seguridade · Charles Liang · Cruzeiro do Sul Educacional
Claims
What the coverage asserts, and how many sources carry each claim.
- [● 2 SOURCES] The fund holds a 1.28% stake in Nvidia worth $62 billion. wkzo.com · wxerfm.com
- [DISPUTED] The Norwegian wealth fund's total value reached 22,695 billion kroner at the end of the second quarter. e24.no
- [DISPUTED] The fund's voting interest in SpaceX is 0.01%. e24.no
- [● 2 SOURCES] The fund holds a 1.27% stake in Microsoft worth $35 billion. wkzo.com · wxerfm.com
- [DISPUTED] Norway's sovereign wealth fund held a 0.05% stake in SpaceX worth approximately $1.22 billion as of June 30. wkzo.com · wxerfm.com · e24.no
- [● 2 SOURCES] The fund holds a 1.17% stake in Alphabet worth $50 billion. wkzo.com · wxerfm.com
- [● 2 SOURCES] The fund holds a 1.7% stake in Taiwan Semiconductor Manufacturing worth $34 billion. wkzo.com · wxerfm.com
- [● 2 SOURCES] The fund holds a 1.24% stake in Apple worth $52 billion. wkzo.com · wxerfm.com
- [● 14 SOURCES] The Norwegian sovereign wealth fund could potentially lose all its value. www.pravda.sk · bitcoinethereumnews.com · www.klubradio.hu · sapo.pt · hotnews.ro · +9 more
- [● 7 SOURCES] Current global market conditions are abnormal due to the gap between investor optimism and geopolitical risks. bitcoinethereumnews.com · www.klubradio.hu · hotnews.ro · www.thelocal.no · www.pravda.sk · +2 more
- [○ 1 SOURCE] Stocks accounted for 71.3 percent of the fund's value at the end of 2025. bitcoinethereumnews.com
- [○ 1 SOURCE] A massive loss in fund value would impact Norway's defense budget and hospitals. sapo.pt