| Market Value of U.S. Portfolio Holdings of Foreign Securities, by Country and Type of Security, as of December 31, 2025 | |||||
| Department of the Treasury/Federal Reserve Board | |||||
| These are Preliminary data, released on August 31, 2026. This page and data expire on October 30, 2026. | |||||
| (Amounts in millions of U.S. dollars) | |||||
| Long-term | Short-term | ||||
| Code | Country of Issuer | Total | Equity | Debt Securities (4) | Debt Securities |
| 40401 | Afghanistan | 0 | 0 | 0 | 0 |
| 15105 | Albania | 581 | 0 | 558 | 24 |
| 50105 | Algeria | 0 | 0 | 0 | 0 |
| 10103 | Andorra | 18 | 0 | 18 | 0 |
| 50202 | Angola | 2,860 | 0 | 2,860 | 0 |
| 30228 | Anguilla | * | * | 0 | 0 |
| 35203 | Antigua and Barbuda | 121 | 1 | 120 | 0 |
| 30104 | Argentina | 23,824 | 6,828 | 16,922 | 75 |
| 16519 | Armenia | 537 | 3 | 534 | 0 |
| 35254 | Aruba | 125 | 0 | 125 | 0 |
| 60089 | Australia | 477,593 | 300,608 | 136,697 | 40,288 |
| 10189 | Austria | 41,189 | 27,211 | 13,658 | 320 |
| 16527 | Azerbaijan | 847 | 0 | 847 | 0 |
| 35319 | Bahamas | 5,529 | 2,391 | 1,873 | 1,266 |
| 40703 | Bahrain | 2,984 | 160 | 2,824 | 0 |
| 40746 | Bangladesh | 102 | 102 | 0 | 0 |
| 30155 | Barbados | 2,618 | 0 | 2,618 | 0 |
| 16209 | Belarus | 293 | 0 | 293 | 0 |
| 10251 | Belgium | 84,006 | 64,354 | 18,594 | 1,057 |
| 35718 | Belize | 3 | * | 0 | 3 |
| 51802 | Benin | 600 | 0 | 600 | 0 |
| 35602 | Bermuda | 317,032 | 263,551 | 53,358 | 123 |
| 40819 | Bhutan | 0 | 0 | 0 | 0 |
| 36161 | Bonaire, Saint Eustatius and Saba (2) | 0 | 0 | 0 | 0 |
| 30201 | Bolivia | 123 | 0 | 123 | 0 |
| 14109 | Bosnia and Herzegovina | 5 | 0 | 5 | 0 |
| 50504 | Botswana | 51 | 5 | 46 | 0 |
| 30309 | Brazil | 190,074 | 149,448 | 40,526 | 99 |
| 60208 | British Indian Ocean Territory | 0 | 0 | 0 | 0 |
| 35807 | British Virgin Islands | 57,163 | 51,117 | 5,998 | 47 |
| 41009 | Brunei | 0 | 0 | 0 | 0 |
| 15202 | Bulgaria | 1,468 | 34 | 1,434 | 0 |
| 57118 | Burkina Faso | 9 | 9 | 0 | 0 |
| 41106 | Burma | 0 | 0 | 0 | 0 |
| 50806 | Burundi | 0 | 0 | 0 | 0 |
| 41203 | Cambodia | 0 | 0 | 0 | 0 |
| 51004 | Cameroon | 221 | 2 | 219 | 0 |
| 29998 | Canada | 1,886,376 | 1,277,944 | 481,719 | 126,713 |
| 51209 | Cape Verde | 0 | 0 | 0 | 0 |
| 36137 | Cayman Islands | 3,073,146 | 2,507,022 | 554,890 | 11,234 |
| 51306 | Central African Republic | 0 | 0 | 0 | 0 |
| 51403 | Chad | 0 | 0 | 0 | 0 |
| 30406 | Chile | 52,278 | 22,559 | 29,274 | 444 |
| 41408 | China, mainland (1) | 317,722 | 300,130 | 17,358 | 234 |
| 30503 | Colombia | 27,553 | 3,807 | 23,746 | * |
| 51519 | Comoros | 0 | 0 | 0 | 0 |
| 51608 | Congo (Brazzaville) | 389 | 0 | 389 | 0 |
| 51705 | Congo (Kinshasa) | 0 | 0 | 0 | 0 |
| 60402 | Cook Islands | 0 | 0 | 0 | 0 |
| 30589 | Costa Rica | 2,411 | 11 | 2,400 | 0 |
| 53007 | Cote d'Ivoire | 3,875 | 45 | 3,830 | 0 |
| 14214 | Croatia | 331 | 34 | 297 | 0 |
| 30708 | Cuba | 0 | 0 | 0 | 0 |
| 36188 | Curaçao (2) | 40,300 | 40,257 | 0 | 43 |
| 10405 | Cyprus | 2,092 | 1,789 | 303 | 0 |
| 15288 | Czech Republic | 7,901 | 2,102 | 5,799 | 0 |
| 10502 | Denmark | 198,179 | 184,261 | 12,299 | 1,619 |
| 52302 | Djibouti | 0 | 0 | 0 | 0 |
| 36218 | Dominica | * | 0 | * | 0 |
| 30805 | Dominican Republic | 7,318 | * | 7,318 | 0 |
| 45004 | East Timor | 0 | 0 | 0 | 0 |
| 31003 | Ecuador | 3,907 | 40 | 3,867 | 0 |
| 57002 | Egypt | 11,905 | 2,264 | 7,908 | 1,733 |
| 31089 | El Salvador | 2,923 | 0 | 2,923 | 0 |
| 51942 | Equatorial Guinea | 0 | 0 | 0 | 0 |
| 52019 | Eritrea | 0 | 0 | 0 | 0 |
| 15407 | Estonia | 817 | 409 | 408 | 0 |
| 52108 | Ethiopia | 68 | 0 | 68 | 0 |
| 36307 | Falkland Islands | 0 | 0 | 0 | 0 |
| 10618 | Faroe Islands | 933 | 670 | 263 | 0 |
| 60305 | Federated States of Micronesia | 0 | 0 | 0 | 0 |
| 60607 | Fiji | 0 | 0 | 0 | 0 |
| 10707 | Finland | 77,022 | 61,531 | 11,584 | 3,907 |
| 10804 | France | 909,734 | 660,469 | 214,327 | 34,938 |
| 36404 | French Guiana | 0 | 0 | 0 | 0 |
| 60704 | French Polynesia | 0 | 0 | 0 | 0 |
| 52418 | Gabon | 449 | 25 | 424 | 0 |
| 52507 | Gambia | 0 | 0 | 0 | 0 |
| 16535 | Georgia | 333 | 0 | 333 | 0 |
| 11002 | Germany | 684,874 | 586,382 | 86,624 | 11,868 |
| 52604 | Ghana | 2,042 | 135 | 1,906 | 0 |
| 11088 | Gibraltar | 223 | 17 | 206 | 0 |
| 11207 | Greece | 27,273 | 22,283 | 4,978 | 12 |
| 10545 | Greenland | 475 | 2 | 473 | 0 |
| 36706 | Grenada | 6 | 0 | 6 | 0 |
| 36803 | Guadeloupe (2) | 0 | 0 | 0 | 0 |
| 31208 | Guatemala | 3,146 | 0 | 3,146 | 0 |
| 13006 | Guernsey | 67,104 | 65,632 | 1,472 | * |
| 52701 | Guinea | 0 | 0 | 0 | 0 |
| 54402 | Guinea-Bissau | 0 | 0 | 0 | 0 |
| 31305 | Guyana | 7 | 0 | 7 | 0 |
| 31402 | Haiti | 0 | 0 | 0 | 0 |
| 13102 | Holy See (Vatican) | 0 | 0 | 0 | 0 |
| 31488 | Honduras | 883 | 0 | 883 | 0 |
| 42005 | Hong Kong | 119,344 | 113,707 | 5,287 | 350 |
| 15504 | Hungary | 21,154 | 9,498 | 11,656 | 0 |
| 11304 | Iceland | 1,548 | 635 | 909 | 3 |
| 42102 | India | 390,476 | 379,562 | 10,902 | 11 |
| 42218 | Indonesia | 59,950 | 34,563 | 25,387 | 0 |
| 42307 | Iran | 0 | 0 | 0 | 0 |
| 42404 | Iraq | 242 | 0 | 242 | 0 |
| 11401 | Ireland | 1,182,488 | 1,071,653 | 89,634 | 21,201 |
| 13008 | Isle of Man | 5,174 | 4,225 | 948 | 0 |
| 42501 | Israel | 147,571 | 129,333 | 18,233 | 5 |
| 11509 | Italy | 254,090 | 192,759 | 61,200 | 130 |
| 31607 | Jamaica | 551 | * | 550 | 0 |
| 42609 | Japan | 1,483,109 | 1,266,964 | 193,536 | 22,609 |
| 13007 | Jersey | 186,301 | 120,016 | 65,896 | 388 |
| 42706 | Jordan | 1,202 | 18 | 1,184 | 0 |
| 16543 | Kazakhstan | 8,273 | 3,136 | 5,015 | 122 |
| 53104 | Kenya | 1,989 | 204 | 1,785 | 0 |
| 60526 | Kiribati | 0 | 0 | 0 | 0 |
| 43001 | Korea, South | 384,208 | 359,964 | 23,583 | 661 |
| 13471 | Kosovo (2) | 0 | 0 | 0 | 0 |
| 43109 | Kuwait | 10,686 | 8,132 | 2,417 | 138 |
| 16551 | Kyrgyzstan | 233 | 0 | 233 | 0 |
| 43303 | Laos | 51 | 0 | 51 | 0 |
| 15601 | Latvia | 855 | 61 | 794 | 0 |
| 43419 | Lebanon | 436 | 7 | 430 | 0 |
| 53155 | Lesotho | 0 | 0 | 0 | 0 |
| 53201 | Liberia | 63,970 | 57,305 | 6,665 | 0 |
| 53309 | Libya | 0 | 0 | 0 | 0 |
| 11606 | Liechtenstein | 294 | 94 | 201 | 0 |
| 15709 | Lithuania | 775 | 16 | 759 | 0 |
| 11703 | Luxembourg | 346,558 | 264,761 | 73,486 | 8,310 |
| 43508 | Macau | 2 | * | 2 | 0 |
| 14419 | Macedonia | 78 | 0 | 78 | 0 |
| 53406 | Madagascar | 0 | 0 | 0 | 0 |
| 53503 | Malawi | 0 | 0 | 0 | 0 |
| 43605 | Malaysia | 34,898 | 21,912 | 12,986 | 0 |
| 43702 | Maldives | 0 | 0 | 0 | 0 |
| 53589 | Mali | 0 | 0 | 0 | 0 |
| 11819 | Malta | 1,983 | 217 | 1,766 | 0 |
| 61204 | Marshall Islands | 14,254 | 12,084 | 2,170 | 0 |
| 37001 | Martinique | 0 | 0 | 0 | 0 |
| 53708 | Mauritania | 0 | 0 | 0 | 0 |
| 53805 | Mauritius | 27,729 | 26,052 | 1,677 | 0 |
| 54518 | Mayotte | * | * | 0 | 0 |
| 31704 | Mexico | 183,182 | 90,395 | 92,656 | 131 |
| 16306 | Moldova | 0 | 0 | 0 | 0 |
| 12009 | Monaco | 8 | 8 | * | 0 |
| 43818 | Mongolia | 695 | 28 | 668 | 0 |
| 13625 | Montenegro (2) | 490 | 0 | 490 | 0 |
| 37109 | Montserrat | 0 | 0 | 0 | 0 |
| 54003 | Morocco | 4,406 | 168 | 4,238 | 0 |
| 54089 | Mozambique | 171 | 0 | 171 | 0 |
| 54127 | Namibia | 129 | 13 | 116 | 0 |
| 61301 | Nauru | 0 | 0 | 0 | 0 |
| 44202 | Nepal | 0 | 0 | 0 | 0 |
| 12106 | Netherlands | 747,728 | 597,562 | 142,205 | 7,961 |
| 61409 | New Caledonia | * | 0 | * | 0 |
| 61689 | New Zealand | 29,033 | 10,771 | 14,673 | 3,589 |
| 31801 | Nicaragua | 0 | 0 | 0 | 0 |
| 54208 | Niger | 1 | 1 | 0 | 0 |
| 54305 | Nigeria | 7,242 | 324 | 4,731 | 2,187 |
| 61808 | Niue Island | 0 | 0 | 0 | 0 |
| 12203 | Norway | 70,340 | 37,372 | 26,181 | 6,786 |
| 44105 | Oman | 4,270 | 107 | 4,163 | 0 |
| 44709 | Pakistan | 1,831 | 397 | 1,420 | 15 |
| 62502 | Palau | 0 | 0 | 0 | 0 |
| 31887 | Panama | 49,036 | 30,690 | 18,292 | 54 |
| 61751 | Papua New Guinea | 75 | 25 | 50 | 0 |
| 32107 | Paraguay | 2,678 | 0 | 2,678 | 0 |
| 32204 | Peru | 22,028 | 2,963 | 19,060 | 5 |
| 44806 | Philippines | 21,262 | 11,556 | 9,705 | 0 |
| 62103 | Pitcairn Island | 0 | 0 | 0 | 0 |
| 15768 | Poland | 38,443 | 22,305 | 16,137 | * |
| 12319 | Portugal | 15,173 | 11,274 | 3,883 | 15 |
| 45101 | Qatar | 13,063 | 8,546 | 4,517 | 0 |
| 54607 | Reunion | 0 | 0 | 0 | 0 |
| 15806 | Romania | 18,713 | 1,250 | 17,463 | 0 |
| 16101 | Russia | 19,881 | 19,056 | 824 | 0 |
| 55018 | Rwanda | 145 | 10 | 135 | 0 |
| 55107 | Saint Helena | 0 | 0 | 0 | 0 |
| 37303 | Saint Kitts and Nevis | 0 | 0 | 0 | 0 |
| 37508 | Saint Lucia | 0 | 0 | 0 | 0 |
| 36196 | Sint Maarten | 0 | 0 | 0 | 0 |
| 36471 | Saint Martin and Saint Barthelemy (2) | 0 | 0 | 0 | 0 |
| 62219 | Saint Pierre and Miquelon | 0 | 0 | 0 | 0 |
| 37605 | Saint Vincent and the Grenadines | 0 | 0 | 0 | 0 |
| 62618 | Samoa | 0 | 0 | 0 | 0 |
| 12408 | San Marino | * | 0 | * | 0 |
| 55204 | Sao Tome and Principe | 0 | 0 | 0 | 0 |
| 45608 | Saudi Arabia | 60,328 | 44,849 | 14,296 | 1,184 |
| 55301 | Senegal | 756 | 11 | 746 | 0 |
| 13218 | Serbia (2) | 2,973 | * | 2,973 | 0 |
| 55409 | Seychelles | 11 | * | 11 | 0 |
| 55506 | Sierra Leone | 0 | 0 | 0 | 0 |
| 46019 | Singapore | 197,247 | 146,146 | 32,810 | 18,290 |
| 15318 | Slovakia | 1,536 | 148 | 1,388 | 0 |
| 14338 | Slovenia | 1,595 | 814 | 781 | 0 |
| 62308 | Solomon Islands | 0 | 0 | 0 | 0 |
| 55603 | Somalia | 0 | 0 | 0 | 0 |
| 55719 | South Africa | 100,022 | 78,805 | 19,976 | 1,241 |
| 53392 | South Sudan | 0 | 0 | 0 | 0 |
| 12505 | Spain | 285,011 | 222,131 | 60,708 | 2,173 |
| 41319 | Sri Lanka | 2,281 | 51 | 2,230 | 0 |
| 56103 | Sudan | * | 0 | * | 0 |
| 37702 | Suriname | 833 | 0 | 833 | 0 |
| 56219 | Eswatini | 28 | 15 | 13 | 0 |
| 12602 | Sweden | 221,684 | 176,787 | 21,717 | 23,180 |
| 12688 | Switzerland | 802,995 | 756,847 | 45,565 | 583 |
| 46205 | Syria | 0 | 0 | 0 | 0 |
| 46302 | Taiwan | 668,316 | 668,259 | 57 | 0 |
| 16578 | Tajikistan | 45 | 0 | 45 | 0 |
| 56405 | Tanzania | 91 | 91 | 0 | 0 |
| 46418 | Thailand | 36,828 | 29,024 | 7,804 | 0 |
| 56502 | Togo | 155 | 87 | 68 | 0 |
| 62405 | Tokelau Islands | 0 | 0 | 0 | 0 |
| 62448 | Tonga | 0 | 0 | 0 | 0 |
| 32409 | Trinidad and Tobago | 913 | 0 | 913 | 0 |
| 56707 | Tunisia | 199 | 14 | 185 | 0 |
| 12807 | Turkey | 29,378 | 14,589 | 14,714 | 75 |
| 16616 | Turkmenistan | 0 | 0 | 0 | 0 |
| 37818 | Turks and Caicos Islands | 17 | 1 | 16 | 0 |
| 60518 | Tuvalu | 0 | 0 | 0 | 0 |
| 56804 | Uganda | 768 | 33 | 730 | 5 |
| 16403 | Ukraine | 2,512 | 64 | 2,448 | 0 |
| 46604 | United Arab Emirates | 50,590 | 33,325 | 12,106 | 5,159 |
| 13005 | United Kingdom | 2,007,169 | 1,541,913 | 423,978 | 41,277 |
| 32603 | Uruguay | 5,972 | 5 | 5,957 | 10 |
| 16705 | Uzbekistan | 3,926 | 0 | 3,926 | 0 |
| 61603 | Vanuatu | 0 | 0 | 0 | 0 |
| 32719 | Venezuela | 2,648 | 11 | 2,636 | 0 |
| 46906 | Vietnam | 3,956 | 3,841 | 114 | 1 |
| 60119 | Wallis and Futuna | 0 | 0 | 0 | 0 |
| 47201 | West Bank & Gaza | 0 | 0 | 0 | 0 |
| 56006 | Western Sahara | 0 | 0 | 0 | 0 |
| 47104 | Yemen | 0 | 0 | 0 | 0 |
| 57207 | Zambia | 942 | 2 | 941 | 0 |
| 54704 | Zimbabwe | 7 | 7 | 0 | 0 |
| 79995 | Int. and reg. org. | 160,655 | 1,177 | 140,683 | 18,796 |
| 88862 | Country unknown | 0 | 0 | 0 | 0 |
| 99996 | Total | 19,276,850 | 15,246,392 | 3,607,764 | 422,695 |
| 59994 | Total Africa | 231,230 | 165,626 | 60,437 | 5,166 |
| 49999 | Total Asia | 4,013,650 | 3,560,682 | 404,311 | 48,657 |
| 34401 | Total Caribbean | 3,504,839 | 2,864,340 | 627,785 | 12,713 |
| 19992 | Total Europe | 8,385,636 | 6,746,374 | 1,473,311 | 165,951 |
| 16713 | Of which: Euro area countries (3) | 4,665,128 | 3,785,858 | 787,378 | 91,892 |
| 39942 | Total Latin America | 573,510 | 306,758 | 265,929 | 822 |
| 29998 | Canada | 1,886,376 | 1,277,944 | 481,719 | 126,713 |
| 69906 | Total Oceania | 520,955 | 323,489 | 153,590 | 43,877 |
| 79995 | International organizations | 160,655 | 1,177 | 140,683 | 18,796 |
| * Greater than zero, but less than $500,000. | |||||
| 1. Excludes Hong Kong and Macau, which are reported separately. | |||||
| 2. Separate reporting for certain country groups began with the 2013 survey. | |||||
| Entries for Bonaire, Sint Eustatius, and Saba; Curacao; and Sint Maarten were previously | |||||
| reported together as Netherlands Antilles. | |||||
| Entries for Guadeloupe and for Saint Martin and Saint Barthelemy were previously reported | |||||
| together as Guadeloupe. | |||||
| Entries for Kosovo, Montenegro, and Serbia were previously reported together as Serbia. | |||||
| 3. Austria, Belgium, Croatia,Cyprus, Estonia, Finland, France, Germany, Greece, Ireland, Italy, Latvia, | |||||
| Lithuania, Luxembourg, Malta, Netherlands, Portugal, Slovakia, Slovenia, and Spain. | |||||
| 4. Long-term debt securities have an original term-to-maturity in excess of one year. | |||||
| Notes: | |||||
| To easily convert this html file into a spreadsheet, download the file and open it from your spreadsheet program. | |||||
| A summary of the data is in a Press Release dated August 31, 2026. | |||||
| Questions about the survey can be directed to the Treasury Department (202-622-7527), or | |||||
| by email using the "Contact TIC" button on many TIC webpages, at: | |||||
| https://forms.treasury.gov/treasuryforms/Form?templateID=a1Qt0000002aSqSEAU | |||||
| Questions from the news media should be directed to Treasury's Office of Public Affairs at (202) 622-2960. | |||||
| Acknowledgements: The Department of the Treasury, the Federal Reserve Bank of New York, and | |||||
| the Board of Governors of the Federal Reserve System wish to thank all of the institutions that | |||||
| participated in the survey and without whose efforts the survey would not have been possible. | |||||