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Norwegian sovereign wealth fund surpasses €1.75 trillion Amid strong quarterly gains
The Norwegian sovereign wealth fund, the largest in the world, recorded a profit of €88 billion in the third quarter, driven by strong stock market returns in commodities, telecommunications, and financial sectors.
At the end of September, the fund—financed by Norway’s petroleum revenues and invested across various global asset classes—reached a record value of 20,440 billion kroner (€1,755 billion). According to Trond Grande, the fund’s deputy CEO, “The growth is explained by solid equity market returns, particularly in commodities, telecoms, and financial services.”
The quarterly return of 5.8% was largely fueled by equity investments, which made up 71.2% of the portfolio and gained 7.7% during the period. The fund holds stakes in approximately 8,500 companies worldwide, representing about 1.5% of all publicly listed companies. Bond holdings (26.6% of assets) and real estate investments (1.8% of assets) delivered more modest returns of 1.4% and 1.1%, respectively. Investments in renewable energy projects remain a small portion of the portfolio but are gradually expanding.
