De Nederlandsche Bank published new statistics showing that Dutch households' securities holdings rose by EUR 3.8 billion in the first quarter of 2026 to EUR 207.6 billion, despite late-quarter market volatility after the outbreak of war in the Middle East erased earlier gains. The increase was driven mainly by net purchases of EUR 4.0 billion and exchange-rate gains of EUR 775 million. The value of households' shareholdings in six large listed oil companies also increased by EUR 686 million to EUR 5.3 billion as higher oil prices lifted those stocks. Households nevertheless sold a net EUR 677 million of shares in those oil companies, which limited the increase in the value of their Big Oil holdings. More than 90% of Dutch household holdings in this group are in Shell, making the aggregate position highly sensitive to Shell's share price. Bond allocations also increased, with direct bond holdings rising 22% to EUR 6.2 billion as households bought mainly government bonds, reversing an earlier downward trend.
De Nederlandsche Bank2026-05-21
De Nederlandsche Bank reports Dutch household securities holdings rose to EUR 207.6 billion in the first quarter and Big Oil holdings to EUR 5.3 billion
De Nederlandsche Bank reported that Dutch households’ securities holdings rose by EUR 3.8 billion in the first quarter of 2026 to EUR 207.6 billion, driven by net purchases and exchange-rate gains despite market volatility. Households increased direct bond holdings by 22% to EUR 6.2 billion, mainly in government bonds, and saw the value of shareholdings in six large listed oil companies rise to EUR 5.3 billion, although they sold a net EUR 677 million of those shares, with more than 90% of exposures in Shell.