The following table presents the asset allocation as of 29.06.2026 vs the strategic allocation in force on this date. The targets and the ranges of the strategic allocation presented here, were approved by the Governing Board on 16.06.2026.
| ASSET CLASS ALLOCATION | €4,205,249,654 | 100.0% | MIN | TARGET | MAX |
| Cash and money markets | €293,561,706 | 7.0% | - | 1% | 20% |
| Fixed income | €733,002,322 | 17.4% | - | 11% | 50% |
| Multi-assets | €369,250,542 | 8.8% | - | 8% | 35% |
| Real assets | €318,838,402 | 7.6% | - | 5% | 33% |
| Equities | €2,490,596,683 | 59.2% | 40% | 55% | 75% |
| STRATEGY ALLOCATION | €4,205,249,654 | 100.0% | MIN | TARGET | MAX |
| Growth | €2,490,596,683 | 59.2% | 40% | 55% | 65% |
| Stability | €1,421,091,266 | 33.8% | - | 28% | 50% |
| Tactical | €101,946,521 | 2.4% | - | 2% | 20% |
| Liquidity | €191,615,185 | 4.6% | - | 1% | 40% |
| Allocation as per Class and Strategy | €4,205,249,654 | 100.0% | TARGET | MIN | MAX |
| Cash/Tactical | €101,946,521 | 2.4% | 1% | - | 20% |
| Amundi Smart Overnight Return ETF | €101,946,521 | 2.4% | |||
| Cash/Liquidity | €38,635,096 | 0.9% | 1% | 1% | 10% |
| Cash at banks | €38,635,096 | 0.9% | |||
| Money markets/Liquidity | €152,980,090 | 3.6% | 1% | - | 10% |
| Amundi Euro Liquidity | €152,980,090 | 3.6% | |||
| Bonds - Kosovo Treasuries/Stability | €375,730,407 | 8.9% | 4% | - | 25% |
| Kosovo Treasuries | €375,730,407 | 8.9% | |||
| Bonds - Investment Grade/Stability | €121,461,133 | 2.9% | 3% | - | 25% |
| Austrian Treasuries | €32,126,754 | 0.8% | |||
| French Treasuries | €31,257,697 | 0.7% | |||
| Italian Treasuries | €30,386,653 | 0.7% | |||
| Vanguard Eurozone Gov Bond ETF | €27,690,029 | 0.7% | |||
| Term deposits/Stability | €235,810,782 | 5.6% | 4% | - | 10% |
| Term Deposits | €235,810,782 | 5.6% | |||
| Multi-assets/Stability | €369,250,542 | 8.8% | 8% | - | 15% |
| Schroder ISF Global MA Bal | €163,422,033 | 3.9% | |||
| Allianz Dynamic Multi Asset | €104,072,538 | 2.5% | |||
| Blackrock Global Allocation | €101,755,970 | 2.4% | |||
| Real assets/Stability | €318,838,402 | 7.6% | 5% | - | 15% |
| iShare US Infr ETF | €117,896,347 | 2.8% | |||
| GlobalX US Infr ETF | €86,351,117 | 2.1% | |||
| Global X Data Center & Digital Infrastructure ETF | €53,237,874 | 1.3% | |||
| iShare Resid. M-Factor Real Estate ETF | €50,974,370 | 1.2% | |||
| iShares US Digital Infrastr and RealEstate ETF | €10,378,693 | 0.2% | |||
| Equities - Passive/Growth | €1,881,960,607 | 44.8% | 37% | 25% | 40% |
| Vanguard GSIF | €916,733,866 | 21.8% | |||
| Invesco S&P500 Eur Hedg ETF | €327,260,994 | 7.8% | |||
| iShare MSCI Eur Value ETF | €149,562,380 | 3.6% | |||
| iShares MSCI EM UCITS ETF | €93,831,274 | 2.2% | |||
| Vanguard Value ETF | €87,068,603 | 2.1% | |||
| Amundi MSCI Eu QualFact ETF | €76,850,646 | 1.8% | |||
| Amundi MSCI Japan ETF | €64,190,445 | 1.5% | |||
| iShares Core FTSE 100 UCITS ETF | €58,665,268 | 1.4% | |||
| SPDR Russell 2000 US SmlCp ETF | €38,019,990 | 0.9% | |||
| UBS Core SPI ETF | €37,263,594 | 0.9% | |||
| SPDR SP Eur Div Aristocrats ETF | €32,513,547 | 0.8% | |||
| Equities - Active/Growth | €492,210,162 | 11.7% | 12% | 10% | 25% |
| Schroder Global Equity Alpha | €142,660,230 | 3.4% | |||
| Nordea GSE | €130,298,283 | 3.1% | |||
| JPM Global Select Equity €H | €110,542,363 | 2.6% | |||
| Schroders Sustainable Growth | €108,709,285 | 2.6% | |||
| Equities - Thematic/Growth | €116,425,914 | 2.8% | 2% | - | 12% |
| BNP Healthcare Innovators | €36,428,114 | 0.9% | |||
| iShares Listed Private Equity | €25,677,743 | 0.6% | |||
| Future of Defence ETF | €20,461,225 | 0.5% | |||
| VanEck Defense ETF | €18,626,261 | 0.4% | |||
| SPDR S&P Oil & Gas ETF | €15,232,572 | 0.4% |