U.S. Department of the Treasury 

Office of Public Affairs

Press Release: FOR IMMEDIATE RELEASE

October 31, 2023

Contact: Treasury Public Affairs, Press@Treasury.gov

Report on U.S. Portfolio Holdings of Foreign Securities at 

End-Year 2022 

WASHINGTON – The findings from the annual survey of U.S. portfolio holdings of foreign 

securities at year-end 2022 were released today and posted on the Treasury web site here. 

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, which reports on securities held at end-June 

2023, are being processed. Preliminary results are expected to be reported on February 29, 2024.

Overall Results

This survey measured the value of U.S. portfolio holdings of foreign securities at year-end 2022

as approximately $14.0 trillion, with $10.3 trillion held in foreign equity, $3.3 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 2021, measured U.S. holdings of approximately $16.3 trillion, with $12.1 trillion held 

in foreign equity, $3.7 trillion held in foreign long-term debt securities, and $0.6 trillion held in 

foreign short-term debt securities. The decrease in U.S. holdings in 2022 was mainly in equity 

(see Table 1).

U.S. portfolio holdings of foreign securities by country at the end of 2022 were the largest for the 

Cayman Islands ($2.7 trillion), followed by the United Kingdom ($1.4 trillion), Canada ($1.2
trillion), and Japan ($1.1 trillion) (see Table 2). These four countries accounted for 46 percent of 

total U.S. portfolio investment, versus 44 percent the previous year.

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The surveys are part of the International Monetary Fund’s Coordinated Portfolio Investment 

Survey (IMF CPIS), an effort to improve the measurement of portfolio asset holdings.

Table 1. U.S. holdings of foreign securities, by type of security, as of survey dates [1]

(Billions of dollars)

Type of Security December 31, 2021 December 31, 2022

Long-term securities 15,757 13,567

Equity 12,061 10,283

Long-term debt 3,696 3,284

Short-term debt securities 562 447

Total 16,319 14,013

U.S. Portfolio Investment by Country

Table 2. Market value of U.S. portfolio holdings of foreign securities, by country and type 

of security, for countries attracting the most U.S. investment, as of December 31, 2022 [1]

(Billions of dollars)

Country or category Total Equity Debt

Total Long-term Short-term

Cayman Islands 2,658 1,925 732 724 8

United Kingdom 1,398 976 422 390 32

Canada 1,244 734 510 396 114

Japan 1,090 845 245 186 60

Ireland 777 678 98 79 20

France 696 506 190 157 32

Switzerland 591 549 42 41 1

Netherlands 582 415 168 154 13

Germany 454 358 96 82 14

Australia 424 254 170 122 48

India 287 278 9 9 0

Bermuda 249 203 47 47 0

China, mainland [2] 243 226 17 15 1

Taiwan 232 231 1 1 0

Korea, South 205 180 24 23 2

Luxembourg 201 144 56 53 4

Sweden 180 131 49 22 27

Denmark 173 160 13 13 0

Jersey 162 135 27 27 0

Brazil 157 135 22 21 1

Rest of the world 2,012 1,220 793 723 70

Total 14,013 10,283 3,731 3,284 447

* Greater than zero but less than $500 million.

Items may not sum to totals due to rounding.

[1] The stock of foreign securities for December 31, 2022, reported in this survey may not, for a number of reasons, correspond 

to the stock of foreign securities on December 31, 2021, plus cumulative flows reported in Treasury’s transactions reporting 

system. An analysis of the relationship between the stock and flow data is available in Exhibit 3 and the associated text of “U.S. 

Portfolio Holdings of Foreign Securities as of End-December 2022.”

[2] China, Hong Kong, and Macau are all reported separately.