On this week’s Friday Wrap-Up, Nicolai Tangen is joined by Daniel Balthasar, Co-Chief Investment Officer of Active Strategies at NBIM, for a closer look at the fund’s active side. Following this week’s podcast episode with Bill Ackman, they discuss the investment that made Daniel admire Ackman, whether NBIM is an index fund, and what the fund can learn from the best investors. Daniel also explains why challenging your own investment thesis can be so hard, and how he stays focused in a tougher year for active management. Tune in!

Listen to In Good Company with Bill Ackman, CEO of Pershing Square: https://podcasts.apple.com/no/podcast/bill-ackman-concentrated-investing-permanent-capital/id1614211565?i=1000798461455

This Friday Wrap-Up is hosted by Nicolai Tangen, CEO of Norges Bank Investment Management, together with Daniel Balthasar, Co-Chief Investment Officer of Active Strategies. New episodes of In Good Company air every Wednesday, with the Friday Wrap-Up following each week to break it all down.

Hosted on Acast. See acast.com/privacy for more information.

Bill Ackman has become one of the best-known names in investing by doing something unusual: running a concentrated portfolio of very few companies, with a long-term view. Speaking with Nicolai Tangen, the founder and CEO of Pershing Square explains what makes a business truly great, how Warren Buffett’s example shaped his approach to long-term capital, and why he no longer has to break down doors as an activist. They discuss how AI is changing markets and why Bill is so active on social media, where he finds fresh ideas and hears views that differ from his own. Bill also opens up about the family tragedy that struck earlier this year, and what it has led him to focus on. Tune in for a conversation about big bets, open minds, and what matters most!

In Good Company is hosted by Nicolai Tangen, CEO of Norges Bank Investment Management. New episodes every Wednesday, and don't miss our weekly wrap-up on Friday’s.

The production team for this episode includes Isabelle Karlsson and PLAN-B's Niklas Figenschau Johansen. Background research was conducted by Une Solheim.

• Watch the episode on YouTube: Norges Bank Investment Management - YouTube
• Want to learn more about the fund? The fund | Norges Bank Investment Management (nbim.no)
• Follow Nicolai Tangen on LinkedIn: Nicolai Tangen | LinkedIn
• Follow NBIM on LinkedIn: Norges Bank Investment Management: Administrator for bedriftsside | LinkedIn
• Follow NBIM on Instagram: Explore Norges Bank Investment Management on Instagram

Hosted on Acast. See acast.com/privacy for more information.

This week’s Friday Wrap-Up looks back at Nicolai Tangen’s podcast conversation with

Eric Schmidt, former CEO of Google and one of the most influential voices on AI.

Marthe Skaar and Nicolai discuss how investors should think about a business model

where a new AI model takes about six months to build and may be out of date within

months.

They also cover why Nicolai believes over-regulating AI could hold Europe back, and

why companies need to change their culture much faster than before.

They also look at the gender gap in AI use at the fund, and Nicolai also shares how he

prepares for his podcast conversations. Finally, he gives a preview of his upcoming

guests in New York. Tune in and find out!

Listen to In Good Company with Eric Schmidt: https://www.nbim.no/no/nyheter-og-

innsikt/podkast-in-good-company/2026/eric-schmidt-the-age-of-agents-

superintelligence-and-why-europe-is-falling-behind/

The Friday Wrap-Up is hosted by Marthe Skaar, Chief of Communications and External

Relations, together with Nicolai Tangen, CEO of Norges Bank Investment Management.

New episodes of In Good Company air every Wednesday, with the Friday Wrap-Up

following each week to break it all down.

The production team for this episode includes Halvor Pritzlaff Njerve, Isabelle Karlsson,

Line Aaltvedt and PLAN-B’s Niklas Figenschau Johansen.

Hosted on Acast. See acast.com/privacy for more information.