OSLO, January 29, 2025 – Norway’s sovereign fund, the largest in the world, reported a remarkable gain of 2.511 trillion Norwegian kroner (approximately €214 billion) for the past year, setting a record for the highest return in its history. This impressive performance was largely driven by technology stocks, as announced in a statement on Wednesday.
In percentage terms, the fund achieved a return of 13%, boosting its total value to 19.742 trillion kroner (€1.678 trillion) by the end of the year.
This growth was primarily fueled by equity investments, which made up 71.4% of the portfolio and yielded an impressive 18% return over the year.
“The fund achieved outstanding returns in 2024, thanks to a dynamic stock market,” remarked Nicolai Tangen, the fund’s chief, in the statement.
“Particularly, shares of American technology companies performed exceptionally well,” he added.
While the fund invests in approximately 9,000 companies worldwide, its stakes in seven major tech firms—Apple, Amazon, Alphabet (Google’s parent company), Meta (Facebook, Instagram), Microsoft, Nvidia, and Tesla—account for 17% of its equity holdings.
