Norway’s sovereign wealth fund sharply increased the value of its Taiwan-listed equity portfolio in the first half, with holdings rising to $61.91 billion at end-June from $40.31 billion at the end of last year, according to Norges Bank Investment Management. The reshuffle was led by technology names tied to AI and semiconductors. TSMC remained the largest Taiwan-listed position at $33.53 billion, up 47.8%, and also became the fund’s fifth-largest holding globally after overtaking Amazon. MediaTek climbed to second place in Taiwan after the market value of the fund’s stake nearly tripled to $3.18 billion and its ownership ratio rose to 1.49%, while Hon Hai slipped to fourth as its holding value rose only 1.5% to $1.22 billion and its ownership percentage eased to 1.1%. Delta Electronics held third place with its position up 75% to $1.76 billion. Yageo was the standout mover, jumping 13 places to fifth after the value of the fund’s stake surged 426% to $1.12 billion and its ownership ratio increased to 1.51%. The top-ten list also changed further down, with ASE Technology Holding replacing CTBC Financial Holding in sixth, Elite Material moving ahead of Accton Technology into seventh, and Unimicron Technology and United Microelectronics taking ninth and tenth. Beneath the headline ranking changes, NBIM made broad portfolio adjustments in Taiwan, adding 14 holdings and removing 20 in the first half even as the overall number of Taiwan-listed companies in the portfolio slipped to 333 from 339. The pattern points to heavier concentration in large technology leaders and a retreat from some traditional sectors, automotive-linked names, energy and consumer electronics manufacturing. The fund separately reported first-half profit of 1.75 trillion Norwegian kroner, or about $184.3 billion, with CEO Nicolai Tangen saying strong global equity markets and especially Asian technology stocks drove returns. Market participants cited in the report said the moves reinforce a wider view that global institutional capital is still rotating toward AI supply chain leaders, high-performance computing and related electronic components despite recent volatility in Taiwan stocks.