In the first quarter of 2024, the State Oil Fund of the Republic of Azerbaijan (SOFAZ) owned the most shares of Microsoft, SOFAZ told as an answer to APA-Economics’ inquiry.

SOFAZ increased its share portfolio in the technology corporation by 12.8% from $438 million to $494 million in the first quarter of this year in comparison with the end of last year.

In contrast to Microsoft, the Oil Fund reduced its share portfolio in Apple by USD 77 million to USD 419 million. At the end of last year, this indicator was USD 496 million. With these results, Apple dropped to the second place in the top of SOFAZ.

SOFAZ increased investments in shares of NVIDIA by USD 169 million in the first quarter of year.

The value of the Oil Fund’s stock portfolio for NVIDIA rose from USD 202 million to USD 371 million.

SOFAZ also increased the volume of the Amazon stock portfolio from $233 million to $279 million.

In comparison with the end of 2023, in the first quarter of this year, “Alfabet” (Google) could not enter the TOP-
5 of SOFAZ. At the end of last year, the Fund owned shares of “Alfabet” in the amount of 258 million dollars.

Instead, the Fund invested $179 million in Mark Zuckerberg’s Meta platforms. The share of the aforementioned IT giants in the quoted stock portfolio of SOFAZ was 4.0%, 3.4%, 3.0%, 2.3% and 1.4%, respectively.

Noted that in the first quarter of 2024, the total investment volume of the TOP-5 companies included in the stock portfolio is 1 billion. It amounted to 742 million dollars, which is 7% more compared to the end of last year. Last year, this figure was 1 billion 627 million dollars.

Source: Azeri-Press news agency