The largest pension fund in the Netherlands reduced its holdings of US bonds by nearly 40% in the first six months of last year.

Dutch civil servant pension fund ABP reduced its holdings of US Treasury bonds by nearly 40% in a six-month period in 2025. As of the end of March 2025, ABP held nearly 30 billion euros in US Treasury bonds, which was reduced to 18.5 billion euros by the end of September. At the same time, the fund increased its holdings of German government bonds from 18.6 billion euros to 28.7 billion euros. ABP stated that it considers "the fundamental situation and outlook of a country, as well as the maturity structure of government bonds, to be equally important. These factors play a critical role in ensuring the consistency of our investments with long-term pension obligations." ABP's investment update report has a three-month delay.