Norway's Sovereign Wealth Fund Posts Record $185 Billion Profit in First Half of 2026

Norges Bank Investment Management (NBIM) said on Wednesday, August 12, 2026 (21 Mordad 1405) that Norway's sovereign wealth fund, the Government Pension Fund Global (GPFG), posted a record profit of 1,753 billion Norwegian kroner ($185 billion) on its portfolio in the first half of 2026, more than double the profit for the same period last year. NBIM chief executive Nicolai Tangen said the result was driven by strong equity market returns, particularly from Asian technology stocks. The fund's investments returned a record 9.4% in Norwegian kroner in the first half of 2026, 0.22 percentage points above the benchmark index. The fund's value stood at 22,683 billion kroner ($2.39 trillion) at the end of June, up 1,416 billion kroner ($149 billion) from a year earlier. Equities made up 72.1% of the fund's value and fixed income 25.8%, with Nvidia, Apple and Microsoft its most valuable holdings. Created in the 1990s with Norway's oil and gas revenues, the fund is the world's largest sovereign wealth fund and holds an average of 1.5% of all listed companies globally.