World’s Largest Sovereign Wealth Fund Bought $1.2 Billion in SpaceX Stock
Norway's sovereign wealth fund, the largest in the world, revealed on Wednesday that it holds a 0.05% stake in SpaceX worth just over $1.2 billion. The position had never been made public before.
The disclosure arrived with a record first-half profit of 1.75 trillion Norwegian kroner, or roughly $184.9 billion. It also places the fund inside both of Elon Musk's listed companies.
A Record Half Built on Chips
Norges Bank Investment Management (NBIM), which runs the fund, reported a 9.4% return for the first six months of 2026. The fund closed in June at 22,683 billion kroner, near $2.3 trillion.
Equities carried almost all of it. Stocks returned 13.0% while fixed income added 0.9%, and shares made up 72.1% of the portfolio at the end of June.
The path there was uneven. Equity holdings dropped 2.6% in the first quarter, then rebounded 15.98% in the second as chipmakers rallied.
CEO Nicolai Tangen summed up the driver as "chips, chips, chips, chips" while presenting a chart of top performers featuring Samsung, SK Hynix's US listing, TSMC, ASML, Intel, and Nvidia. NBIM's 1.3% stake in Nvidia alone is worth $61.8 billion.
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