Norway's $2.2 trillion fund cuts back on US tech stocks to simplify portfolio
Norway's giant Sovereign Wealth Fund—worth a jaw-dropping $2.2 trillion—has started dialing down its investments in big-name US tech companies like NVIDIA, Apple, Microsoft, and Alphabet.
The main goal? Simplifying its massive portfolio by dropping more than 1,000 companies and narrowing its focus after holding over 7,000 stocks worldwide.
What actually changed?
The fund trimmed its stakes in NVIDIA and Microsoft just a bit (both now at 1.26%), but Apple is still a huge favorite.
Interestingly, even with these tech cuts, the fund's total US holdings represented roughly 53% of its assets by the end of 2025, with increases in US Treasury holdings also reported.
Why does this matter?
In the second half of 2025, the fund trimmed stakes in big tech as it simplified the portfolio.
Now, with global tensions rising and talk of tariffs or sanctions in the air, a government-appointed panel has warned the fund to raise preparedness for such geopolitical risks.
It's a reminder that even financial giants need to keep things flexible when the world gets unpredictable.