More than a quarter of Dutch investors have reduced their holdings in U.S. shares over the past six months due to unpredictable and unreliable U.S. policies, according to new research released by Rabobank on Thursday.

The study revealed that 26 percent of respondents had either personally reduced their U.S. stock investments or had done so jointly with a partner. Additionally, nearly 60 percent said they were unwilling to allocate more capital to U.S. equities.

According to Rabobank, many investors cited "uncertainty," "unpredictability," and "unreliable" when describing the U.S. market climate. The research highlighted the U.S. policies as a key factor behind this sentiment shift.

The U.S. policies were frequently mentioned "as reasons why investors have become more negative about investing in the U.S.," the researchers said in a press release.

"Investors see the role of the U.S. on the world stage as the biggest threat to the value of their investments over the next 12 months," they said.

The findings are based on a nationwide survey conducted between April 14 and May 6, 2025. It involved 1,868 Dutch citizens aged 18 to 80, of whom 632 reported holding individual or joint stock investments.