U.S. Department of the Treasury

Office of Public Affairs

EMBARGOED UNTIL 4:00 PM ET THURSDAY, AUGUST 31

Press Release: August 31, 2023

Contact: Treasury Public Affairs, Press@Treasury.gov

Preliminary Annual Report on U.S. Holdings of Foreign Securities 

at Year-End 2022 

WASHINGTON – Preliminary data from an annual survey of U.S. portfolio holdings of foreign 

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

final survey report, which will include additional detail as well as possible revisions to the data, 

will be released on October 31, 2023.

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 also is conducted 

annually. Data from the most recent such survey, which reports on securities held on June 30, 

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

29, 2024.

Overall Preliminary Results

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

approximately $14.0 trillion, with $10.3 trillion held in foreign equities, $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 the value of U.S. holdings at $16.3 trillion, with $12.1 trillion held in 

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

foreign short-term debt securities.
Table 1. U.S. portfolio holdings of foreign securities, by type of security, as of survey dates

(Billions of dollars)

Type of Security Dec. 31, 2021 Dec. 31, 2022

Long-term securities 15,757 13,536

Equities 12,061 10,258

Long-term debt 3,696 3,278

Short-term debt securities 562 447

Total 16,319 13,983

Table 2. U.S. portfolio holdings of foreign securities, by country of issuer and type of security, 

for the countries attracting the most U.S. portfolio investment, as of December 31, 2022

(Market value, billions of dollars, except as noted)

Total Equity Long-Term Debt Short-Term Debt

1 Cayman Islands 2,652 1,919 725 8 

2 United Kingdom 1,393 973 388 32 

3 Canada 1,240 730 396 115 

4 Japan 1,085 840 186 59 

5 Ireland 775 677 79 20 

6 France 695 506 157 32 

7 Switzerland 592 549 41 2 

8 Netherlands 581 414 154 13 

9 Germany 454 358 82 14 

10 Australia 423 253 122 48 

11 India 287 277 9 0 

12 Bermuda 249 202 47 0 

13 China, mainland (1) 243 226 15 1 

14 Taiwan 232 231 1 * 

15 Korea, South 205 180 23 2 

16 Luxembourg 204 143 56 4 

17 Sweden 180 131 22 27 

18 Denmark 173 160 13 0 

19 Jersey 161 134 27 0 

20 Brazil 150 135 15 1 

21 Mexico 143 73 69 1 

22 Spain 142 101 40 2 

23 International organizations 137 0 125 12 

24 Hong Kong 127 121 6 1 

25 Italy 124 81 43 0 

26 Singapore 111 71 12 28 

27 Israel 87 68 18 1 

28 Norway 86 50 28 9 

29 South Africa 65 51 14 0 

30 Indonesia 65 36 28 * 

Rest of world 922 567 339 16 

Total 13,983 10,258 3,278 447

* Between zero and $500 million. (1) China excludes Hong Kong and Macau, which are reported separately.