Norway's $2.3 trillion sovereign wealth fund reported a record half-year profit of more than $182 billion on Wednesday, as a rally in Asian technology stocks helped the fund return 9.4%.
The fund's first-half report came as its managers revealed a 0.05% stake inSpaceX, valued at just over $1.2 billion, in its first such disclosure of its exposure to Elon Musk's space tech giant.
The SpaceX stake is dwarfed by some of its other holdings, including a 1.3% stake inNvidiaworth $61.8 billion and a 1.2% ownership ofApplevalued at $52.7 as of June 30.
Norges Bank Investment Management (NBIM) manages the fund, which was set up in the 1990s to invest revenues from the country's oil and gas industry. The fund — currently valued at around $2.34 trillion — is an investor in more than 7,000 companies across more than 50 countries and has stakes in around 1.5% of the world's publicly listed stocks.
"The result is driven by good returns in the equity market, particularly from Asian technology stocks," Nicolai Tangen, CEO of NBIM, said in a statement on Wednesday.
Equities make up more than two-thirds of the wider portfolio, with NBIM also investing in fixed income,real estateand renewable energy infrastructure.
Around 40% of NBIM's portfolio is comprised of U.S. equities, with its most valuable holdings being shares of Nvidia, Apple and Microsoft.
