De Nederlandsche Bank (DNB) published new statistics showing Dutch households ended 2025 with a strong overall investment result despite significant market volatility. The value of households’ securities portfolios increased by 7.8% over the year to EUR 204.3 billion. More than 90% of the annual increase was driven by favourable price developments, with the remainder due to net purchases, while exchange rate movements had a slightly negative effect. In the fourth quarter, substantial household sales offset rising stock prices, leaving the total portfolio value virtually unchanged; listed shareholdings fell 1.9% to EUR 68.5 billion as households sold EUR 2.6 billion of shares against EUR 1.7 billion of price gains, and bond holdings declined to EUR 5.2 billion as many bonds matured and were not replaced. Investment fund shares rose by just over 1% to EUR 130.6 billion, and DNB noted a recurring pattern of net selling concentrated in December alongside net buying in January, with January 2025 net purchases of EUR 2.7 billion largely in fund shares; in December, households were net sellers of EUR 1.3 billion in listed shares, particularly ASML, ING Group and Coöperatieve Rabobank.
De Nederlandsche Bank 2026-02-19
De Nederlandsche Bank reports Dutch household portfolio investments rose 7.8% in 2025 to EUR 204.3 billion
De Nederlandsche Bank reported that Dutch households ended 2025 with a 7.8% increase in securities portfolios, reaching EUR 204.3 billion, despite market volatility. The growth was primarily driven by favorable price developments, with net purchases contributing modestly. In Q4, household sales offset stock price gains, resulting in a stable portfolio value, while listed shareholdings and bond holdings declined due to sales and maturing bonds.