A big investor in Volkswagen and Glencore has lost $5.9 billion in the past 10 days

Qatar's sovereign wealth fund - the ninth largest in the world- is a big investor in Volkswagen and commodities company Glencore.

Those two stocks have plummeted in recent weeks, potentially leaving the fund with a paper loss of $5.9 billion, according to Bloomberg's Charles Stein.

The $256 billion fund is said to have lost about $4.8 billion from its stake in VW. The German automaker has seen its price tank after admitting to cheating emission standards..

The fund held 13% of VW preferred shares, the largest stake, in addition to 17% of VW's common stock.

The fund held about 8.2% of commodity trading giant Glencore, whose shares have tumbled after global commodity prices dropped - losing Qatar Investment Authority another $1.1 billion, Stein estimates.

Read the full Bloomberg article here.