Norway’s Government Pension Fund Global has published its holdings data for the first half of 2026, revealing positions in 41 publicly listed UAE companies valued at $3.43 billion, or roughly 12.6 billion dirhams.
The portfolio spans real estate, banking, energy, and retail. Emaar Properties is the fund’s largest UAE holding by value, followed by Abu Dhabi Commercial Bank and Emirates NBD.
The fund exited five positions between end-2025 and June 30, 2026: GFH, Pure Health, Ras Al Khaimah Properties, Americana Restaurants, and Alpha Dhabi Holding. No reasons were given for the exits.
The fund’s internal rules cap its stake in any single listed company at 10%.
