The Norwegian sovereign wealth fund, the largest in the world, reported a loss of 415 billion kroner (approximately €35 billion) in the first quarter of this year, mainly due to declines in technology stocks.
The fund noted significant market fluctuations during the quarter, leading to negative returns primarily attributed to the technology sector.
Recent major stock market fluctuations caused by the trade war initiated by US President Donald Trump occurred in April and are not reflected in these figures.
At the end of last year, the fund’s value had risen to a record equivalent of approximately €1,700 billion, doubling over five years. Established in 1990, it aims to reinvest Norway’s oil and gas revenues.
The fund holds shares in nearly 8,800 companies, including major firms such as Shell, Nestlé, Apple, Amazon, Microsoft, Facebook, Nvidia, and Google’s parent company, Alphabet, giving it a 1.5% stake in global equities. It also invests in bonds and real estate.
