Norway's Sovereign Wealth fund sold its entire holding of Irish government bonds in the final weeks of 2011.
The holding, worth NOK3.8 billion or €501m, was sold as part of a move away from euro zone peripheral bonds by the Norwegian fund.
The fund is the biggest sovereign fund in Europe.
The Norwegian fund also liquidated its holdings of Portuguese bonds, and reduced its holdings of Spanish and Italian bonds.
The fund said it will over time reduce its share of euro zone bonds from 60% to 40% of its bond holdings, moving the balance into emerging market bonds.
Norway strongly objected to the debt reduction deal for Greece, fearing it sets a precedent for other sovereign debt reductions in the euro zone, which would be to its disadvantage