Norwegian Sovereign Fund Reports Record Semiannual Profit of 1.753 Trillion Crowns

The Norwegian sovereign fund announced a semiannual profit of 1.753 trillion crowns, approximately 160 billion euros, marking a record in its 30-year history. By the end of June, its value reached 22.683 trillion crowns, with a return of 9.4%. The technology sector, particularly semiconductor manufacturers like Samsung and TSMC, contributed 1.065 trillion crowns to the gains. The fund holds stakes in nearly 7,100 companies, with a geographical concentration of 55% of its assets in the United States. The asset allocation is 72.1% in equities, 25.8% in bonds, 1.6% in real estate, and 0.5% in unlisted renewable energy. Equities yielded 13% for the semester, while bonds gained 0.9% and real estate 3%. The fund has also invested in SpaceX, holding 0.05% valued at 121 billion crowns. Nicolai Tangen, the fund's director, expressed concerns about dependence on a limited number of companies and warned about the sustainability of this wealth.

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