Top Foreign Holders of US Treasuries
December 2025 TIC data · Released Feb 18, 2026
| # | Holder | Holdings | Share | |
|---|---|---|---|---|
| 1 | Japan | $1.19T | 15.5% | |
| 2 | United Kingdom | $866B | 11.3% | |
| 3 | China | $684B | 8.9% | |
| 4 | Belgium | $477B | 6.2% | |
| 5 | Canada | $468B | 6.1% | |
| 6 | Luxembourg | $435B | 5.7% | |
| 7 | Cayman Islands | $421B | 5.5% | |
| 8 | France | $369B | 4.8% | |
| 9 | Ireland | $341B | 4.5% | |
| 10 | Taiwan | $311B | 4.1% | |
| 11 | Switzerland | $294B | 3.8% | |
| 12 | Singapore | $278B | 3.6% | |
| 13 | Hong Kong | $268B | 3.5% | |
| 14 | Norway | $208B | 2.7% | |
| 15 | Stablecoin IssuersCombined | $196B | 2.6% | |
| 16 | India | $183B | 2.4% | |
| 17 | Brazil | $169B | 2.2% | |
| 18 | Saudi Arabia | $150B | 2.0% | |
| 19 | South Korea | $141B | 1.8% | |
| 20 | Israel | $106B | 1.4% | |
| 21 | Germany | $103B | 1.3% |
Sovereign figures include all US Treasury security types (bills, notes, bonds). Stablecoin issuers hold primarily T-Bills — comparing bills only, they would rank even higher.
Sources
Table 5: Major Foreign Holders of Treasury Securities — US Department of the Treasury, TIC System
Treasury International Capital (TIC) System — Monthly data releases
Stablecoin Treasury Holdings Breakdown — Individual issuer attestation data