Norway Wealth Fund Posts Record $182 Billion First-Half Profit, Reveals SpaceX Stake

Norway's sovereign wealth fund, the world's largest, posted a record first-half profit as a rally in Asian technology stocks boosted returns. The fund also disclosed its investment in Elon Musk's SpaceX for the first time.

The fund generated a profit of $182 billion in the first six months of the year, CNBC reported on August 12. Its return for the period was about 9.4%.

"The equity market delivered strong returns, particularly from rising Asian technology stocks," said Nicolai Tangen, chief executive officer of Norges Bank Investment Management, which runs the fund.

The fund said it held a 0.05% stake in SpaceX as of the end of June, valued at slightly more than $1.2 billion.

That investment is small compared with its holdings in major US technology companies. As of the end of June, the fund owned a 1.3% stake in Nvidia worth about $61.8 billion and a 1.2% stake in Apple worth about $52.7 billion.

The fund manages about $2.34 trillion in assets and invests in more than 7,000 companies across over 50 countries. It is also known to own about 1.5% of listed shares globally.