The U.S. Department of the Treasury has announced that U.S. portfolio holdings of foreign securities rose to $15.8 trillion at the end of 2024. This figure marks a modest increase from $15.3 trillion the previous year, reflecting ongoing adjustments in global financial markets. The preliminary data, derived from an annual survey conducted in partnership with the Federal Reserve Bank of New York and the Board of Governors of the Federal Reserve System, indicates a dynamic investment landscape for U.S. investors.
Investment Composition Revealed
According to the early findings, U.S. investors allocated their foreign securities as follows: $12.1 trillion in foreign equities, $3.3 trillion in foreign long-term debt securities, and $393 billion in foreign short-term debt securities. The increase of approximately $491 billion overall was primarily driven by a surge in equities, which grew by $606 billion. Conversely, holdings in long-term debt saw a slight decline of around $86 billion, while short-term debt holdings also experienced a modest reduction.
The distribution of investments illustrates a trend toward diversification, as U.S. investors continue to navigate changing market dynamics and seek opportunities across various sectors and regions.
Top Investment Destinations
The Cayman Islands emerged as the foremost destination for U.S. portfolio investments, with total holdings reaching approximately $2.76 trillion. This was largely fueled by equity investments exceeding $2.1 trillion. Following the Cayman Islands, other significant investment destinations included:
– United Kingdom — $1.63 trillion
– Canada — $1.47 trillion
– Japan — $1.20 trillion
– Ireland — $1.06 trillion
The data reflects substantial U.S. exposure to offshore financial centers alongside robust positions in developed markets such as France, the Netherlands, and Switzerland. Emerging markets, including India and Brazil, also attracted U.S. investment, albeit at lower levels than the leading destinations.
Context and Future Outlook
The Treasury’s preliminary report underscores a continued trend of diversification in U.S. investment portfolios amidst evolving global financial conditions. The detailed breakdown of holdings by asset type and country offers valuable insights for policymakers and analysts regarding capital flows and systemic risks.
In addition to this survey, the Treasury and its partners carry out an annual assessment of foreign holdings in U.S. securities. Preliminary results for the latest assessment, which covers positions as of June 30, 2025, are expected by February 27, 2026. A finalized report detailing 2024 holdings, incorporating possible revisions and expanded analysis, is anticipated for release on October 31, 2025.
This comprehensive data not only informs investment strategies but also aids in understanding broader economic trends, helping stakeholders to make informed decisions in a complex financial landscape.
