Report on U.S. Portfolio Holdings of Foreign Securities at Year-End 2025
Washington – Fial data from an annual survey of U.S. portfolio holdings of foreign securities at year-end 2025 were released today and posted on the Treasury web site at https://home.treasury.gov/data/treasury-international-capital-tic-system/tic-forms-instructions/us-claims-on-foreigners-from-holdings-of-foreign-securities. Preliminary data were released and posted on the Treasury web site on August 31, 2025.
The survey was undertaken jointly by the U.S. Department of the Treasury, the Federal Reserve Bank of New York, and the Board of Governors of the Federal Reserve System.
A complementary survey measuring foreign portfolio holdings of U.S. securities also occurs annually. Data from the most recent such survey, for securities held at end-June 2026, are currently being processed. Preliminary results are expected to be reported on February 26, 2027.
This survey measured the value of U.S. portfolio holdings of foreign securities at year-end 2025 as approximately $19.3 trillion, with $15.2 trillion held in foreign equity, $3.6 trillion held in foreign long-term debt securities (original term-to-maturity in excess of one year), and $0.4 trillion held in foreign short-term debt securities. The previous such survey, conducted as of year-end 2024, measured U.S. holdings of approximately $15.8 trillion, with $12.1 trillion held in foreign equity, $3.3 trillion held in foreign long-term debt securities, and $0.4 trillion held in foreign short-term debt securities. The increase in U.S. holdings of foreign securities in 2025 was mainly in equity (see Table 1).
U.S. portfolio holdings of foreign securities by country at the end of 2025 were the largest for the Cayman Islands ($3.1 trillion), followed by the United Kingdom ($2.0 trillion), Canada ($1.9 trillion), and Japan ($1.5 trillion) (see Table 2).
Press Notice TIC for end of October 2026
(Billions of dollars)
December 31, 2025
Type of Security
Long-term Securities
15,443
18,839
Equity
12,095
15,232
Long-term debt
3,348
3,607
Short-term debt securities
380
418
Total
15,823
19,258
(Billions of dollars)
Total
Equity
Debt
Long-term debt
Short-term debt
1
Cayman Islands
3,072
2,506
566
555
11
2
United Kingdom
2,007
1,542
465
424
41
3
Canada
1,884
1,278
606
482
124
4
Japan
1,483
1,267
216
194
23
5
Ireland
1,182
1,072
111
90
21
6
France
910
660
250
214
35
7
Switzerland
803
757
46
46
1
8
Netherlands
748
598
150
142
8
9
Germany
685
586
98
87
12
10
Taiwan
668
668
0
0
0
11
Australia
476
300
176
137
39
12
India
390
380
11
11
0
13
Korea, South
384
360
24
24
1
14
Luxembourg
347
265
82
74
8
15
China, mainland (1)
318
300
18
17
0
16
Bermuda
317
264
53
53
0
17
Spain
285
222
63
61
2
18
Italy
255
193
61
61
0
19
Sweden
221
177
45
22
23
20
Singapore
197
146
51
33
18
21
Brazil
190
149
41
41
0
22
Jersey
186
120
66
66
0
23
Denmark
185
171
13
12
1
24
Mexico
183
90
93
93
0
25
Int. and reg. org.
161
1
159
141
19
26
Israel
148
129
18
18
0
27
Hong Kong
119
114
6
5
0
28
South Africa
100
79
21
20
1
29
Belgium
84
64
20
19
1
30
Finland
77
62
15
12
4
Rest of the world
1,192
712
480
458
23
Total
19,258
15,232
4,026
3,607
418
(1) China excludes Hong Kong and Macau, which are reported separately.