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Markets · Portfolio equity

Portfolio equity, end-2025 positions: $58.4tn of cross-border holdings identified by pair; the largest is Cayman Islands → United States ($3,399bn)

Cite

Cite this view

datasteg (2026), “Market matrix: portfolio equity”, datasteg money-flow, release 20261102.2, method 1.5, 2 November 2026, https://money-flow.datasteg.com/en/m/equity?r=20261102.2&d=2026-11-02.

Figure note: Source: datasteg money-flow (release 20261102.2, method 1.5), from IMF PIP (CPIS).

BibTeX
@misc{datasteg:mf:mkt-equity:20261102.2,
  author       = {{datasteg}},
  title        = {Market matrix: portfolio equity},
  howpublished = {datasteg money-flow, release 20261102.2, method 1.5},
  year         = {2026},
  date         = {2026-11-02},
  url          = {https://money-flow.datasteg.com/en/m/equity?r=20261102.2&d=2026-11-02},
  urldate      = {2026-11-02},
  note         = {Positions from IMF PIP (CPIS)}
}
The datasets' own citations (1)
  • International Monetary Fund (2026), Portfolio Investment Positions by Counterpart Economy (formerly CPIS), retrieved 27 October 2026, https://data.imf.org/en/datasets/IMF.STA:PIP.
The method's citation

datasteg (2026), “Money-flow methodology”, version 1.5, datasteg money-flow, 2 November 2026, https://money-flow.datasteg.com/en/method?v=1.5.

@misc{datasteg:mf:method:1.5,
  author       = {{datasteg}},
  title        = {Money-flow methodology},
  howpublished = {datasteg money-flow, version 1.5},
  year         = {2026},
  date         = {2026-11-02},
  url          = {https://money-flow.datasteg.com/en/method?v=1.5},
  urldate      = {2026-11-02}
}

For each instrument, who holds whose assets · data: end-2025 positions · release 20261102.2 · method 1.5 · Updated 2 Nov 2026, 22:57 KST

Filters
Market
Latest 2026-11-02→ newest data by this day: end-2025 positions
How to read this
  • Direction. Rows hold, columns issued. One cell reads: “row residents hold the value of equity issued by column residents”.
  • A stock, not a flow. Values are end-2025 positions at market value, not what was invested that year; they grow with prices even without transactions.
  • Residence basis. A holder is where the position is booked. A holder in an FC or FD economy is often not the final investor.
  • FC · FD. FC is an offshore financial centre: An offshore centre in the BIS grouping: shell companies, special purpose vehicles, hedge funds and holding companies of foreign firms (e.g. Chinese firms incorporated in the Cayman Islands). A holder here is usually a pass-through, not the final investor. FD is a fund domicile: Where investment funds are legally domiciled (Luxembourg, Ireland, the Netherlands, Switzerland). Holdings booked here are mostly the assets of funds that investors elsewhere bought.
  • Gross totals double count. The same money can appear twice: Germany investors hold $1,150bn in Luxembourg (Germany row × Luxembourg column), and Luxembourg holds $1,430bn in United States (Luxembourg row × United States column). Money can also return home through a pass-through, as in Cayman Islands ⇄ United States (round-tripping). Shares of US firms redomiciled to Ireland show up as US → Ireland ($1,065bn; inversions).
  • Big markets are big on both sides. United States is both the largest holder and the largest destination: a large market that also diversifies abroad. This is gross data, so look at the net: foreign holdings $17.7tn less holdings abroad $15.0tn = net foreign holdings $2.7tn.

How this differs from the Ladder: the panel tab Ladder vs Markets. For holdings restated by nationality (the final investor): Coppola, Maggiori, Neiman and Schreger (2021).

Portfolio equity, end-2025 positions · cells: $bn

Cell value (log bins)$10bn$30bn$100bn$300bn$1tn$3tndarker = largerbrighter = larger
■ square area ∝ valueNumbers: cells of $30bn or moreDomestic, not cross-border (left out)Totals and Other in grey, off the scaleFCOffshore financial centreFDFund domicile
Holder ↓ · issuer →
Total · share outside the table (Other)
269
2,433
1,065
1,539
1,267
660
1,269
583
300
757
593
$15.0tn · Other 28.7%
3,399
108
63
172
174
61
60
55
304
71
$5.0tn · Other 9.8%
1,430
152
317
195
133
238
71
221
62
106
112
$3.8tn · Other 20.1%
1,906
170
124
255
139
100
65
90
46
84
75
$3.6tn · Other 15.4%
1,291
227
41
600
139
112
36
74
132
63
60
$3.4tn · Other 18.0%
601
1,150
600
87
37
168
32
80
89
$3.1tn · Other 7.9%
1,231
99
711
83
51
35
37
35
$2.6tn · Other 8.4%
1,891
109
60
53
32
46
34
$2.5tn · Other 9.4%
443
460
137
85
127
46
107
$1.7tn · Other 14.3%
151
130
734
103
58
332
$1.7tn · Other 7.9%
124
872
341
69
30
39
$1.5tn · Other 2.0%
604
172
41
164
87
49
46
33
$1.5tn · Other 15.9%
Column total (hatched = holders outside the table)
26.2%
34.0%
10.7%
23.9%
20.6%
12.3%
18.2%
9.3%
20.3%
14.6%
10.3%
13.9%
Identified total $58.4tn

Source: IMF PIP (CPIS) (end-2025). Calculations: datasteg money-flow, method 1.5, rules R1, R2, R3, R11.

datasteg: the flow sites