In the first half of this year, the Norwegian sovereign wealth fund, the Norwegian Government Pension Global Fund, reduced its holdings in Meta Platforms, Novo Nordisk, and ASML Holding, all of which are among its top ten holdings.
The Norwegian Government Pension Global Fund is the world's largest sovereign wealth fund, with a size of up to $1.7 trillion.
On Tuesday (August 14th), it released its latest investment list, which showed that as of the middle of this year, the fund's operating agency, Norwegian Bank Investment Management (NBIM), had reduced its stake in Meta from 1.22% at the end of 2023 to 1.18%, valued at approximately $15.1 billion; Reduce Novo Nordisk's shareholding from 1.87% at the end of last year to 1.75%; Reduce the ownership of ASML shares from 2.61% to 2.54%.
New investment portfolio
NBIM was founded in the 1990s with the aim of investing Norway's oil and gas revenue overseas and diversifying its layout. As of the end of June, the fund has invested in over 8800 companies in more than 70 countries and regions worldwide, of which 72% are stock investments and approximately 26% are fixed income investments. The company is scheduled to announce its first half results this Wednesday (August 14th).
Traditionally, the fund updates the content of its investment portfolio every year, but now it has been changed to update twice a year.
On its updated investment list on Tuesday, Microsoft, Apple, and Nvidia were the company's three largest equity investments, respectively.
Among the top ten holdings, NBIM reduced its holdings in Meta, Novo Nordisk, and ASML Holdings respectively; In addition, it also reduced its holdings of Tesla and Volkswagen stocks; We also increased our holdings in three major energy stocks, including ExxonMobil, Shell, and BP.
NBIM is currently led by Nicolai Tangen, who has been intensifying efforts to expand its influence to other areas, particularly on issues such as climate change, gender diversity in the company's board of directors, and executive compensation.