Published
09/01/2026, 12:03The value of foreign securities in US investors’ portfolios reached $19.3 trillion by the end of 2025. Over the course of the year, this figure increased by $3.45 trillion, or 21.8 per cent, according to preliminary data from the US Department of the Treasury.
Shares in foreign companies made up the bulk of the foreign portfolio. Their value rose from $12.1 trillion to $15.25 trillion — an increase of 26 per cent. Shares accounted for around 79 per cent of all foreign securities held by American investors.
The value of long-term debt securities rose from $3.35 trillion to $3.61 trillion, an increase of 7.8 per cent. Investments in short-term debt instruments rose from $380 billion to $423 billion – an increase of 11.3 per cent.
The Cayman Islands became the largest destination for US portfolio investments. The value of securities linked to this jurisdiction reached $3.07 trillion, including $2.51 trillion in equity investments.
The top five also included:
These five jurisdictions accounted for around half of the total foreign portfolio held by US investors. Next came France with $910 billion, Switzerland with $803 billion, the Netherlands with $748 billion, Germany with $685 billion and Taiwan with $668 billion.
Mainland China ranked 15th. US investments in its securities are estimated at $318 billion, of which $300 billion was in shares.
The study was conducted jointly by the US Department of the Treasury, the Federal Reserve Bank of New York and the Board of Governors of the Federal Reserve System. The results presented are preliminary. The final report, which may include adjustments, is scheduled for publication on 30 October 2026.
