[https://maaal.com/en/news/details/sweden-and-denmark-sell-o/](https://maaal.com/en/news/details/sweden-and-denmark-sell-o/)
>23 January 2026
>The Swedish pension fund announced it sold most of its holdings of US Treasury bonds last year, citing increased risk and the unpredictability of US policies.
Pablo Brinjo, the fund's chief investment officer, said the reductions were made in several rounds since the beginning of 2025 and represent the bulk of the fund's holdings, while maintaining a high degree of currency hedging against the US dollar.
Brinjo did not specify the exact amount, but a report in the newspaper Dagens Industri indicated that Alecta sold between 70 and 80 billion Swedish kronor ($7.7–8.8 billion) of its 100 billion kronor holdings.
The fund explained that the decision was based on an assessment of the increased risk associated with US bonds and the dollar due to the unpredictability of US fiscal policies, the large budget deficit, and the high level of government debt.
In a similar move, the Danish pension fund AkademikerPension announced it would sell its holdings of US Treasury bonds, worth about $100 million, before the end of the month, citing weakness in US finances.