Preliminary data from an annual survey of U.S. portfolio holdings of foreign securities at year-end 2023 were released today and posted on the Treasury website. The final survey report, which will include additional detail as well as possible revisions to the data, will be released on October 31, 2024.
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 holdings of U.S. securities is also conducted annually. Data from the most recent such survey, which reports on securities held on June 30, 2024, are currently being processed. Preliminary results are expected to be reported on February 28, 2025.
Overall Preliminary Results
The survey measured the value of U.S. holdings of foreign securities at year-end 2023 at approximately $15.3 trillion, with $11.5 trillion held in foreign equities, $3.4 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 2022, measured the value of U.S. holdings at $14.0 trillion, with $10.3 trillion held in foreign equities, $3.3 trillion held in foreign long-term debt securities, and $0.4 trillion held in foreign short-term debt securities.
Table 1 provides a breakdown by type of security for December 31, 2022 and December 31, 2023:
Type of Security | Dec. 31, 2022 | Dec. 31, 2023
--- | --- | ---
Long-term securities | $13,563 billion | $14,915 billion
Equities | $10,280 billion | $11,483 billion
Long-term debt | $3,283 billion | $3,433 billion
Short-term debt securities | $447 billion | $422 billion
Total | $14,009 billion | $15,338 billion
Table 2 shows U.S. portfolio holdings by country and type of security for countries attracting the most investment as of December 31:
Country | Total (Billions) | Equity (Billions) | Long-Term Debt (Billions) | Short-Term Debt (Billions)
---|---|---|---|---
Cayman Islands|$2,655|$1,925|$720|$9
United Kingdom|$1,491|$1,061|$383|$47
Canada|$1,391|$839|$452|$100
Japan|$1,218|$991|$184|$43
Ireland|$924|$823|$79|$23
Other notable entries include France ($816 billion total), Germany ($514 billion total), and China excluding Hong Kong and Macau ($217 billion total).
