Norway’s $1.7 trillion wealth fund made billions from tech in 2024—now it’s slashing its stake in Meta, Novo Nordisk and ASML

Norway’s $1.7 trillion sovereign wealth fund returned 8.6%, or $138 billion, in the first half as stocks surged.

Norges Bank Investment Management, which handles Norway’s fossil-fuel wealth, saw investments in equities gain 12% in the six months through June, it said in a statement Wednesday. The fund underperformed its benchmark by 0.04 percentage points, NBIM said, with real estate continuing to weigh on returns.

Read more: fortune.com