NBIM News & Analysis
2 articles
Market Mood
Norway's Sovereign Wealth Fund Plans to Cut U.S. Treasury Holdings
Norway's sovereign wealth fund, with a portfolio worth $2.3 trillion, plans to reduce its U.S. Treasury holdings from 34.1% to 21.9%. The fund aims to cut its government bond allocation from 70% to 50% to better diversify risk and enhance returns. It also intends to increase investments in nongovernment U.S. fixed income from 16.2% to 27.6%. This shift comes as long-dated Treasury yields reach decade-highs, indicating potential volatility in the market and the need for investors to monitor changes in traditional government bond holders.
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Norges Bank Reports $184 Billion Profit, Reveals SpaceX Stake
Norway's sovereign wealth fund announced a record half-year profit of over $182 billion, driven by a 9.4% return from a rally in Asian technology stocks. The fund revealed a 0.05% stake in SpaceX, valued at approximately $1.2 billion, marking its first disclosure of investment in the company. Additionally, it holds a 1.3% stake in Nvidia worth $61.8 billion and a 1.2% ownership of Apple valued at $52.7 billion as of June 30. This large profit and exposure to significant tech companies like Nvidia (NVDA) and Apple (AAPL) highlight the fund's position in global equity markets, signaling opportunities for investors.
Read More: Norges Bank Reports $184 Billion Profit, Reveals SpaceX Stake