Finance

Home page

Finance

SOFAZ's most invested IT giants: Investments in Apple and NVIDIA reached $1.2 billion-EXCLUSİVE

06 February 2025 12:20 (UTC +04:00)

The value of the listed shares of the State Oil Fund of Azerbaijan (SOFAZ) by the end of 2024 was $13.4 billion, SOFAZ told APA-Economics.

According to the Fund, It was noted that during this period, the TOP-10 companies in which the State Oil Fund invested the most were again led by global information technology companies. There was also a change in the stock portfolio of the TOP-10 companies in which SOFAZ invested the most.

The Fund's investments in Apple Inc. increased by $71 million compared to the third quarter of last year, reaching $645 million at the end of the year. In other words, the share of Apple Inc. in SOFAZ's stock portfolio increased from 4.9% to 5.5%.

Since the first half of 2023, the share of the largest US chip manufacturer NVIDIA in the Fund's portfolio has begun to increase. The value of the Fund's shares in the global company increased from $505 million to $557 million last year. In other words, investments in NVIDIA have increased by $52 million in 3 months. As a result, IT giants Google and Amazon also surpassed Microsoft and became second on the list. Its weight in the portfolio increased from 4.3% to 4.7%.

The value of the Fund's investments in Microsoft decreased from $513 million to $504 million, while its share in the stock portfolio remained unchanged at 4.3%.

SOFAZ's investments in Amazon increased from $295 million to $351 million in the last quarter of last year. Also, Amazon's share in the Fund's stock portfolio increased from 2.5% to 3%.

Meta platforms have also been included in the top five most invested companies since the first quarter of 2024. SOFAZ's investments in Mark Zuckerberg's company increased from $212 million to $217 million compared to the third quarter of last year, while its weight in the portfolio remained unchanged at 1.8%.

ARNDF also increased its investments in Tesla from $127 million to $197 million. dollars, and increased its weight in the stock portfolio from 1.1% to 1.7%. In other words, 60 million dollars were invested in 3 months.

Separate investments in two companies belonging to "Google" amounted to 188 million and 163 million dollars, and in "Broadcom Inc." - 174 million dollars.

At the end of last year, JP Morgan Chase&Co managed to enter the TOP-10 of the most invested companies. The Fund's investments in the financial giant amounted to 116 million dollars, and its weight in the portfolio was 1%.

In total, SOFAZ's investments in the shares of the TOP-10 global giants amounted to 3 billion 112 million dollars.

It should be noted that this portfolio is equity investments quoted on the State Oil Fund's MSCI World index. The Fund's portfolio tracking the MSCI Europe ex UK index and the volume of cash amounted to 1.6 billion US dollars.