Norway's Sovereign Wealth Fund Discloses SpaceX Stake Worth Over $1.2 Billion

Huo Xing Finance reports that, according to CNBC, as of August 12, Norway’s $2.34 trillion sovereign wealth fund recorded a profit of over $182 billion in the first half of the year, setting a new record for the same period, with an investment return rate of 9.4%. Nicolai Tangen, CEO of Norges Bank Investment Management (NBIM), stated that the strong performance was primarily driven by robust equity markets, particularly the rise in Asian technology stocks. In its latest semi-annual report, the fund disclosed for the first time its stake in SpaceX, holding approximately 0.05%, valued at just over $1.2 billion as of June 30. By comparison, it holds about 1.3% of NVIDIA, valued at $61.8 billion, and approximately 1.2% of Apple, valued at $52.7 billion. Established in the 1990s, the Norwegian sovereign wealth fund managed by NBIM primarily invests revenues from the country’s oil and gas sector. The fund currently invests in more than 7,000 companies across over 50 countries worldwide, holding approximately 1.5% of all publicly traded companies globally. Equity assets account for more than two-thirds of its overall portfolio, with U.S. stocks making up about 40% of the total investment portfolio.