Our analysts just identified a stock with the potential to be the next Nvidia. Tell us how you invest and we'll show you why it's our #1 pick. Norway's sovereign wealth fund posted a record profit of more than $184 billion for the first half of 2026, driven largely by Asian tech stocks.
The fund is the world's largest single investor in every listed company globally. It owns on average 1.5% of all listed companies globally. That is, of course, except SpaceX, which is yet to prove itself.
Norges Bank Investment Management (NBIM), which is the fund's official name, manages a $2.34 trillion fund and is built from Norway's oil and gas revenue. This is the fund's first official declaration of holding SpaceX stock — a 0.05% stake in Elon Musk's rocket company worth $1.22 billion as of June 30. It's still a negligible stake compared to its other tech holdings.
The fund holds a 1.28% stake worth $62 billion in Nvidia, a 1.24% stake worth $52 billion in Apple, a 1.17% stake worth $50 billion in Alphabet, a 1.27% stake worth $35 billion in Microsoft. And also holds a 1% stake in Tesla worth roughly $15.7 billion. Its investing philosophy is simple: index funds that are stable, public and liquid.
The $184 billion profit this year beats the fund's own record from 2023 where it netted $156 billion, or roughly the GDP of Uzbekistan. The fund's CEO Nicolai Tangen attributed the 9% return to Asian tech stocks, mostly driven by chip companies, admittedly raising the concentration risk of its index-fund strategy. Nvidia-level potential. 30M+ investors trust Moby to find it first.
The top 10 companies in its portfolio now represent 20% of the fund's value. The exception to the chip stocks are the fund's stake in Musk's enterprises, despite the friction. NBIM voted against Musk's $56 billion Tesla pay package in 2024, and Musk later declined an invitation to a private dinner NBIM's CEO hosted in Oslo.
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