ABP, Europe’s largest pension fund managing approximately €531 billion in assets, withdrew nearly €25 billion from US investments between late 2025 and March 2026, redirecting capital into European government bonds and equities. The fund reduced its US Treasury holdings by 75%, from €19 billion to €4.6 billion, while divesting from Nvidia, Microsoft, and Apple. European assets now represent 37.2% of the portfolio, compared to 32.2% for US holdings. This restructuring is driven by the Netherlands’ pension system reform and a reassessment of the risk-reward profile between US and European markets.
Source: Read the original article
