News: SOL Norway sovereign fund excludes three more firms from portfolio, page-26

"Considering that it's largest investment TPM shareprice is about 50% lower than it was in 2016 when TPM was over $12, it doesn't make a lot of sense that SOL shareprice has kept rising so much."

Yes, but SOL has since 2016 participated in a large capital raising conducted by TPM, at a price of $5.75, which is but much lower than TPM's current price.

So, the dollar value of SOL's holding in TPM is actually not changed compared to 2016.

Also, SOL's second-largest investment NHC, has seen its share price almost triple since 2016, as has the value of many of its other diversified investments, as one would expect.

So, it is a bit of a gross oversimplification to conclude that, because TPM's share price has fallen, SOL must therefore now be overvalued.

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