The Norwegian sovereign wealth fund, with assets of about $2.2 trillion, posted a profit of $247 billion in 2025, equivalent to 2.36 trillion Norwegian kroner, thanks to strong returns on investments in American technology company stocks.
According to analysts, the biggest contribution to last year’s annual result came from the performance of technology and financial companies in the U.S. market.
It is noted that the fund invests Norway’s revenues from oil and gas production into a range of assets outside the domestic market – bonds, equities, real estate, and non-listed renewable energy projects.
With assets of $2.2 trillion, the fund ranks among the world’s largest investors, owning on average around 1.5% of all publicly traded shares on global stock exchanges.
Impact on the budget and outlook
Overall, the fund finances roughly 25% of the country’s budget.
Such high profitability is supported by efforts to diversify the portfolio and maintain financial stability for the years ahead.
As the preliminary results show, last year’s achievements confirm a growth trend driven by aggressive strategies in the technology sector and a balanced approach to other asset classes.