[Edaily Reporter SIN SOO-JUNG ] The Norwegian Government Pension Fund Global, the world’s largest sovereign wealth fund, posted record profits for the first half of this year, driven by a rally in tech stocks. Profits for the first half totaled 1.75 trillion Norwegian kroner ($184.3 billion, approximately 260.9319 trillion won). The fund also disclosed for the first time that it holds a stake in SpaceX.

Reuters reported on the 12th (local time) that the Norwegian Sovereign Wealth Fund posted a profit of 1.75 trillion kroner in the first half of this year. In dollar terms, this amounts to $184.3 billion. The fund stated that technology stocks drove its performance.

The Norwegian sovereign wealth fund has total assets under management of approximately $2.3 trillion. As the world’s largest sovereign wealth fund, it is managed by Norges Bank Investment Management (NBIM), a subsidiary of the Norwegian Central Bank. This first-half performance marks the largest half-year gain in the fund’s history.

It was also newly confirmed that the fund holds a stake in SpaceX. In a list of holdings released late on the 11th, the fund disclosed that it held a 0.05% stake in SpaceX as of June 30. The stake is valued at $1.2 billion. Reuters reported that this is the first time the fund has disclosed its ownership of SpaceX shares.

These results were largely driven by the strong performance of technology stocks in global equity markets. However, the Reuters article did not specify which technology stocks contributed most significantly to the returns, nor did it provide returns by asset class, such as stocks, bonds, or real estate. Therefore, it is difficult to attribute the increase in first-half profits to the performance of specific stocks or sectors.

The Norwegian Sovereign Wealth Fund is a leading long-term investor that allocates its massive assets to global stocks, bonds, and other assets. The first-half results and the disclosure of its SpaceX stake can be seen as evidence that technology companies are playing an increasingly significant role in the fund’s returns and portfolio. However, Reuters did not report on any plans to expand investments in the future or whether the fund intends to increase its stake in SpaceX.