Foreign Holdings of U.S. Securities: June 2025 Report

The final results from the annual survey of foreign portfolio holdings of U.S. securities at the end of June 2025 were released today on the Treasury website at /data/treasury-international-capital-tic-system/us-liabilities-to-foreigners-from-holdings-of-us-securities. The survey was undertaken jointly by Treasury, the Federal Reserve Bank of New York, and the Board of Governors of the Federal Reserve System. The next survey will cover holdings at the end of June 2026; preliminary data are expected to be released by February 26, 2027.

Complementary surveys measuring U.S. holdings of foreign securities are also carried out annually. Data from the most recent survey, reporting on securities held at year-end 2025, are currently being processed. Preliminary results are expected to be reported by August 31, 2026.

The survey measured the value of foreign portfolio holdings of U.S. securities as of June 30, 2025, to be $35,349 billion, with $19,860 billion held in U.S. equities, $13,840 billion in U.S. long-term debt securities [/1] (of which $1,626 billion are holdings of asset-backed securities (ABS) [/2] and $12,214 billion are holdings of non-ABS securities), and $1,649 billion held in U.S. short-term debt securities. The previous survey, conducted as of June 30, 2024, measured the value of total portfolio foreign holdings of U.S. securities at $30,881 billion, with holdings of $16,878 billion in U.S. equities, $12,688 billion in U.S. long-term debt securities, and $1,314 billion in U.S. short-term debt securities (see Table A).

Table A. Foreign holdings of U.S. securities, by type of security, as of selected survey dates (Billions of dollars)
	June 30, 2024	June 30, 2025
Long-term securities	29,566	33,700
Equities	16,878	19,860
Long-term debt	12,688	13,840
Asset-backed	1,588	1,626
Other	11,100	12,214
Short-term debt securities	1,314	1,649
Total	30,881	35,349
Of which: Official	6,598	6,907

Table B. Foreign holdings of U.S. securities, by country and type of security, for the major investing countries into the United States, as of June 30, 2025 (Billions of dollars)
Country or category		Total	Equities	Long-term debt			Short-term debt
				Treasury	Agency	Corporate	Short-term debt
1	United Kingdom	3,462	2,057	768	56	489	91
2	Cayman Islands	3,180	2,160	286	56	519	158
3	Canada	2,900	2,065	405	160	230	39
4	Japan	2,883	1,169	1,024	250	315	125
5	Luxembourg	2,641	1,357	308	77	739	160
6	Ireland	2,222	1,469	220	34	296	204
7	Switzerland	1,377	939	239	8	128	62
8	China, Mainland [i]	1,279	344	657	186	17	75
9	Belgium	1,181	135	349	16	600	81
10	Singapore	1,118	759	239	17	90	14
11	Norway	1,109	826	195	0	87	0
12	France	1,082	601	354	37	70	20
13	Taiwan	854	172	304	185	188	5
14	Australia	804	694	53	7	40	10
15	Korea, South	804	592	120	34	50	8
16	Germany	800	572	77	5	124	23
17	Netherlands	644	461	79	18	82	4
18	Hong Kong	608	263	190	12	91	52
19	Kuwait	495	377	57	6	44	11
20	Bermuda	466	150	53	30	189	44
21	Sweden	454	396	48	0	10	0
22	Saudi Arabia	361	215	103	4	11	27
23	British Virgin Islands	354	190	56	45	40	23
24	United Arab Emirates	333	231	38	1	5	59
25	Israel	314	183	75	5	25	27
Other		3,622	1,481	1,366	96	353	326
Total		35,349	19,860	7,665	1,344	4,831	1,649
	of which: Official	6,502	2,230	3,500	524	249	405

* Less than $500 million but more than zero.

[i] Excludes Hong Kong and Macau, which are reported separately.

[/1] Long-term debt securities have an original term-to-maturity of over one year.

[/2] Asset-backed securities are backed by pools of assets, such as pools of residential home mortgages or credit card receivables, which give the security owners claims against the cash flows generated by the underlying assets. Unlike most other debt securities, these securities generally repay both principal and interest on a regular basis, reducing the principal outstanding with each payment cycle.

Public Release.