Dutch financial institutions now hold more than €200bn in tech firm stocks

Written by Adam Cadle

14/01/2026

Dutch financial institutions, including insurers, now hold more than €200bn in technology firm stocks, twice the amount recorded in 2020, according to De Nederlandsche Bank (DNB).

A significant portion has been invested in major US tech giants.

Although Dutch insurers’ exposure to tech firms is lower than that of pension funds, it remains substantial. Tech stocks account for 33% of their total equity portfolio, which is nearly 2% of their total assets. The weight of tech firms in insurers’ equity portfolios has also increased in recent years. They too have a significant concentration in stocks of the seven major US tech firms: 13% of their total equity portfolio, up from just 6% in 2020.

DNB warned, however, that such large exposures from financial institutions make these institutions vulnerable to price swings, especially as warnings about high valuations of tech stocks are becoming more frequent.

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