Danish pension operator AkademikerPension said it was exiting U.S. Treasuries because of finance concerns as the country spars with President Donald Trump over his calls to takeover Greenland.
Anders Schelde, AkademikerPension’s investing chief, said the decision was driven by what it sees as “poor [U.S.] government finances” amid America’s debt crisis. But it also comes as tensions escalate between the U.S. and Denmark after Trump’s latest threats to tariff European countries if Greenland wasn’t sold to America.
“It is not directly related to the ongoing rift between the [U.S.] and Europe, but of course that didn’t make it more difficult to take the decision,” Schelde said in a statement to CNBC.
The fund currently has a position of around $100 million in U.S. Treasuries, an AkademikerPension spokesperson confirmed to CNBC. It plans to have exited that holding by the end of the month.
Schelde chiefly cited the ballooning debt bill facing the U.S. after decades of government overspending. The U.S. recorded a budget shortfall of $1.78 trillion last year, down just over 2% from 2024′s fiscal year as Trump’s broad and steep tariffs took effect.
