Norway’s Sovereign Wealth Fund, managing assets worth over $2 trillion, has trimmed its stake in most of the big tech companies on Wall Street during the second half of 2025, according to its latest list of holdings.Norges Bank Investment Management, which overseas the fund, has trimmed its stake in Nvidia Corp., Apple Inc., Microsoft Corp., and Alphabet Inc. as part of its latest filings, albeit marginally.
The fund cut its stake in Nvidia to 1.26% from 1.32% earlier, while Microsoft’s holdings were slashed to 1.26% from 1.35% earlier. The two companies still feature among the funds most valued investments, with Apple retaining the second spot.
Holding over 1.5% of all listed companies globally, Norway’s Sovereign Wealth Fund cut its exposure in over 1,000 companies in the last six months of 2025, bringing the number down to 7,201 stocks across 60 countries. This was done in-line with its strategy to simplify the portfolio. The fund exited markets in Moldova, Iceland, Croatia and Estonia, while adding fresh exposure to Jordan and Panama.Biggest bond holdings for the fund were the US treasuries, Japanese bonds and German bunds. 53% of its total investments are in the US, across asset classes.
The fund cut its stake in Nvidia to 1.26% from 1.32% earlier, while Microsoft’s holdings were slashed to 1.26% from 1.35% earlier. The two companies still feature among the funds most valued investments, with Apple retaining the second spot.
Holding over 1.5% of all listed companies globally, Norway’s Sovereign Wealth Fund cut its exposure in over 1,000 companies in the last six months of 2025, bringing the number down to 7,201 stocks across 60 countries. This was done in-line with its strategy to simplify the portfolio. The fund exited markets in Moldova, Iceland, Croatia and Estonia, while adding fresh exposure to Jordan and Panama.Biggest bond holdings for the fund were the US treasuries, Japanese bonds and German bunds. 53% of its total investments are in the US, across asset classes.
A government-appointed panel earlier this week warned the fund to raise its preparedness to handle the growing geopolitical risks along with other risks such as tariffs, financial sanctions and trade controls.
Founded in the early 1990s, NBIM invests in line with a benchmark index set by Norway’s finance ministry, and its scope for active moves is limited. Its portfolio spans equities, fixed income, real estate and renewable infrastructure, all outside Norway.
(With Inputs From Agencies)
