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Norway’s sovereign wealth fund posts $68 billion profit in first half of 2025

Norway’s sovereign wealth fund, the world’s largest with $2 trillion in assets, reported a profit of 698 billion Norwegian crowns ($68.28 billion) for the first half of 2025. Strong gains in financial sector stocks largely contributed to this performance.

The fund achieved an overall return of 5.7% between January and June, just slightly below its benchmark by 0.05 percentage points, News.Az reports, citing Reuters.

Nicolai Tangen, CEO of Norges Bank Investment Management (NBIM), said:
“The result is driven by good returns in the stock market, particularly in the financial sector.”

The fund, which manages the Norwegian government’s revenues from oil and gas, holds an average 1.5% stake in publicly traded companies worldwide. Its investments span equities, bonds, real estate, and renewable energy projects.

Breakdown of returns for the first half of the year:

Equities: 6.7%

Fixed income: 3.3%

Unlisted real estate: 4.0%

Unlisted renewable energy infrastructure: 9.4%

NBIM recently announced it is ending contracts with external managers handling its Israeli investments and has partially divested from Israel amid the Gaza and West Bank conflict. More details on this divestment are expected following a press conference scheduled for Tuesday at 08:00 CET (06:00 GMT).

 



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