US EditionNorway's sovereign wealth fund earned $247 billion in 2025
Norway's sovereign wealth fund returned 15.1% in 2025, led by 19.3% equity gains mainly from technology, financials, and materials sectors, totaling a $247 billion profit.
- Norges Bank Investment Management said on Thursday that last year, the $2.2 trillion fund posted a 15.1% return, its best in two years.
- Driven by equities, NBIM's sector bets included a fifth in technology stocks and 12% in financials, with the fund trimming US tech stakes in the second half.
- The fund holds about 1.5% of all listed shares globally across about 7,200 companies, and its value rose by 1.5 trillion kroner to 21.3 trillion kroner at year-end.
- NBIM's underperformance raises budget stakes as it missed its benchmark by 28 basis points last year, while the fund finances 25% of Norway's fiscal budget and equals $US385,000 per Norwegian.
- Stress tests show a fragmentation scenario could cut the fund by 37%, with an AI correction scenario reducing it 35%, while experts question NBIM's 52.9% asset concentration in the United States.
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35 Articles
The assets in the Norwegian sovereign wealth fund rose to 1.8 trillion euros. No second country has so much money on the high edge. The regional distribution causes concerns to the government. And the scenarios for a stock market crash are astounding.
The Norwegian sovereign fund, estimated at approximately 2 trillion dollars, gained a profit of US$ 247 billion in 2025 due to the strong increases in technology, finance and basic materials, announced its conduct to the CNBC.
It invests in more than 10,000 companies in 68 countries the proceeds of Norwegian oil and gas. It invests 16.7 billion in 46 companies of the Spanish stock exchange. Ndivia (1.26%), Apple (1.23%) and Microsoft (1.26%) its star positions Read
Norway’s $2.2 Trillion Wealth Fund Trims Biggest US Tech Stocks
Norway’s $2.2 trillion sovereign wealth fund trimmed its stakes in the biggest US tech firms, including its top holding Nvidia Corp., in the second half of 2025, according to a newly published list of holdings.
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