Norway wealth fund posts record $184B profit, reveals SpaceX stake

Norway’s sovereign wealth fund has earned a record 1.75 trillion kroner, or about $184.3 billion, in the first half of 2026 while disclosing a $1.22 billion investment in SpaceX for the first time. Summary Norway’s sovereign wealth fund generated a 9.4% return during the first six months of 2026. Asian technology stocks helped lift first-half profit to a record 1.75 trillion kroner. The fund owned a 0.05% SpaceX stake worth $1.22 billion as of June 30. Its 10 largest investments now account for about 20% of the total portfolio. Asian technology stocks drove the record profit Norges Bank Investment Management reported on Aug. 12 that the Government Pension Fund Global produced a 9.4% investment return during the first half of 2026, taking its profit to 1.75 trillion Norwegian kroner. The result surpassed the previous first-half record of 1.5 trillion kroner, set in 2023. Gains across global equity markets supplied much of the return, with Asian technology companies making an especially strong contribution. “The result is driven by good returns in the equity market, particularly from Asian technology stocks,” NBIM CEO Nicolai Tangen said. After losing 2.6% during the first quarter, t...