Norway’s sovereign wealth fund enjoyed its best quarter since late 2023, returning 6.4% in the second quarter, propelled by stock-market gains.
Equities drove the results for the $1.9 trillion fund, at 8.45%, with unlisted infrastructure investments generating 8.1%, Norges Bank Investment Management said in a report on Tuesday. Fixed income and unlisted real estate had a small positive contribution.
The world’s largest wealth fund owns about 1.5% of listed stocks globally. More than two thirds of the fund is in equities, all outside of Norway.
Nicolai Tangen, in Arendal, Norway, on Aug. 12.
Photographer: Carina Johansen/Bloomberg
Among its top 10 holdings, the fund added to its stakes in Nvidia Corp. …