Norway’s $1.7 trillion sovereign wealth fund trimmed its stakes in Meta Platforms, Novo Nordisk and ASML Holding — all among its top 10 holdings — during the first half of the year.
Norges Bank Investment Management cut its Meta ownership to 1.2% — worth about $15.1 billion as of midyear — from 1.2% at the end of 2023, according to an updated list of investments published Aug. 13. The fund held a 1.75% stake in Novo at midyear, down from 1.9% on Dec. 31, while its holding in ASML dropped to 2.5% from 2.6% over the same span.
The fund has traditionally given an annual update on the contents of its portfolio, but will do so twice a year going forward. Apple, Microsoft and Nvidia were its three biggest equity investments at the end of June.
Created in the 1990s to invest Norway’s oil and gas revenues abroad, NBIM largely tracks a benchmark index based on a framework handed down by parliament. It’s scheduled to release first-half results Aug. 14.
