Norway’s sovereign wealth fund reported a $29.7 billion loss for the third quarter, with a negative return of 0.5%, as rising global interest rates weighed heavily on its bond portfolio. The fund manages about $2.3 trillion and holds roughly 1.5% of the world’s listed companies, while Deputy CEO Trond Grande warned of volatility in AI and semiconductor stocks and said the fund is slightly underweight technology, which makes up about one-quarter of its portfolio. The fund has expanded its divestment from Israeli investments, citing the Gaza war and settlement construction, after intensifying the campaign in August, selling holdings in 17 Israeli companies, and withdrawing about NIS 2 billion from four major banks. It also divested from Caterpillar, prompting the U.S. State Department to call the accusations against Caterpillar and Israel “baseless.” Norway’s prime minister rejected the criticism, saying the fund makes its investment decisions independently of the government.
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| Market | US stocks |
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| Close on 10/22/2026 | 763.96 |
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