Norway's sovereign wealth fund, the world's ?largest, has reported a 2025 profit of 2.36 trillion crowns ($A350 billion), driven by a rise in tech, financial and basic materials stocks, falling ?just short of its 2024 record of 2.51 trillion crowns. The fund, which holds assets of $US2.2 trillion, is one of the world's largest investors, holding on ?average 1.5 per cent of all listed stocks globally. "Stocks in technology, financials and basic materials stood out, making a significant contribution to the overall return," fund CEO Nicolai Tangen said in the statement. That compares with the $US181 billion the fund held in US Treasuries, or 9.2 per cent of its total investments, at June 30. But the Norwegian fund has increased its US ?holdings.