Norway’s Sovereign Wealth Fund Achieves Record $222 Billion Annual Profit

The world’s largest sovereign wealth fund, valued at $1.8 trillion, saw its highest-ever returns in 2024, driven by investments in U.S. technology stocks.

• Norway's sovereign wealth fund posted a record profit of $222 billion in 2024, surpassing its previous annual high from the year prior.
• The fund, managed by Norges Bank Investment Management, attributed its strong performance to a robust rally in U.S. technology stocks, particularly the 'Magnificent Seven' companies like Apple, Microsoft, and Nvidia.
• Equities accounted for 71.4% of the fund’s portfolio at year-end, with U.S. tech stocks alone making up nearly 15% of its investments.
• Established in the 1990s to manage surplus oil and gas revenues, the fund now holds stakes in over 8,000 companies across 63 countries and owns 1.5% of all publicly listed stocks globally.
• Fund managers cautioned that such extraordinary returns are unlikely to be sustained, while noting ongoing diversification into renewable energy and real estate assets.

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