U.S. investors held $15.8 trillion in foreign securities at the end of 2024, with the Cayman Islands attracting the largest share of American investment abroad, according to preliminary Treasury Department data released Friday.
The annual survey reveals how American portfolios remain heavily weighted toward overseas equities despite ongoing market volatility and geopolitical tensions.
Foreign stock holdings reached $12.1 trillion, up from $11.5 trillion in 2023. Long-term foreign debt securities declined slightly to $3.3 trillion from $3.4 trillion.
The Cayman Islands topped the list with $2.76 trillion in U.S. investments, followed by the United Kingdom at $1.63 trillion. Canada, Japan, and Ireland rounded out the top five destinations.
China attracted just $240 billion in U.S. portfolio investment, ranking 15th globally. This relatively small figure underscores the limited financial integration between the world’s two largest economies.
The survey was conducted jointly by the Treasury Department, Federal Reserve Bank of New York, and Federal Reserve Board. Final results with additional details will be published on October 31.
Traditional financial centers dominated the rankings. Luxembourg, Bermuda, and Jersey — known for investment fund domiciles — collectively drew $764 billion.
European nations captured significant U.S. investment, with France ($755 billion), the Netherlands ($621 billion), and Germany ($537 billion) featuring prominently. Switzerland attracted $603 billion, largely in equities.
Asian markets beyond Japan showed mixed results. Taiwan drew $461 billion entirely in equities, while India attracted $383 billion.
Short-term debt holdings remained minimal at $393 billion globally. Canada held the largest share at $113 billion, reflecting close financial ties.
A complementary survey measuring foreign holdings of U.S. securities is currently being processed. Preliminary results are expected on February 27, 2026.