Analysis

Rankings

Rank countries or individual issuers by what U.S.-registered funds report holding. Sort by any column, filter by region, and select rows to chart them side by side.

Foreign only

156 of 156 countries where U.S. funds report foreign holdings in 2026Q1. Select rows to chart them together.

Country Rankings — U.S. Fund Foreign Holdings

Ranked by market value in 2026Q1.

USD billions

#			2026Q1	change	change	change	and quarter	of world
1	Japan	Asia-Pacific	$874B	+$63B	+$223B	+$271B	$874B2026Q1	10.3%
2	United Kingdom	Europe	$873B	+$45B	+$166B	+$268B	$873B2026Q1	10.3%
3	Canada	Americas	$701B	+$41B	+$171B	+$344B	$701B2026Q1	8.30%
4	Ireland	Europe	$490B	−$11B	+$20B	+$210B	$503B2025Q3	5.80%
5	France	Europe	$475B	+$8.3B	+$53B	+$148B	$475B2026Q1	5.63%
6	Taiwan	Asia-Pacific	$460B	+$67B	+$193B	+$332B	$460B2026Q1	5.45%
7	Cayman Islandsoffshore	Americas	$444B	−$18B	+$56B	+$115B	$517B2021Q2	5.26%
8	Switzerland	Europe	$398B	+$24B	+$56B	+$83B	$398B2026Q1	4.71%
9	Germany	Europe	$374B	+$9.8B	+$50B	+$133B	$374B2026Q1	4.43%
10	Netherlands	Europe	$367B	+$21B	+$76B	+$101B	$367B2026Q1	4.35%
11	South Korea	Asia-Pacific	$324B	+$86B	+$192B	+$187B	$324B2026Q1	3.83%
12	India	Asia-Pacific	$242B	−$23B	+$3.8B	+$99B	$284B2024Q3	2.86%
13	Australia	Asia-Pacific	$230B	+$17B	+$50B	+$88B	$230B2026Q1	2.72%
14	China	Asia-Pacific	$196B	+$16B	+$51B	+$66B	$207B2021Q2	2.32%
15	Spain	Europe	$170B	+$10B	+$52B	+$86B	$170B2026Q1	2.01%
16	Italy	Europe	$156B	+$5.5B	+$35B	+$66B	$156B2026Q1	1.85%
17	Brazil	Americas	$134B	+$27B	+$54B	+$11B	$134B2026Q1	1.59%
18	Bermudaoffshore	Americas	$123B	+$9.0B	+$16B	+$15B	$123B2026Q1	1.45%
19	Sweden	Europe	$119B	+$11B	+$25B	+$49B	$123B2021Q4	1.41%
20	Mexico	Americas	$97B	+$9.4B	+$25B	+$24B	$97B2026Q1	1.14%
21	Hong Kong	Asia-Pacific	$88B	+$6.8B	+$28B	−$19B	$113B2021Q2	1.04%
22	Denmark	Europe	$86B	+$5.9B	−$10B	+$28B	$134B2024Q2	1.02%
23	Luxembourgoffshore	Europe	$80B	−$2.3B	+$2.9B	+$15B	$84B2025Q3	0.949%
24	Singapore	Asia-Pacific	$74B	+$1.8B	+$15B	+$35B	$74B2026Q1	0.877%
25	Jerseyoffshore	Europe	$67B	+$8.2B	+$12B	+$22B	$74B2024Q2	0.797%
26	Belgium	Europe	$67B	+$5.8B	+$19B	+$34B	$67B2026Q1	0.790%
27	South Africa	Middle East & Africa	$66B	+$8.3B	+$26B	+$18B	$66B2026Q1	0.779%
28	Israel	Middle East & Africa	$58B	+$4.4B	+$13B	+$34B	$58B2026Q1	0.691%
29	Finland	Europe	$44B	+$3.8B	+$15B	+$19B	$44B2026Q1	0.524%
30	Saudi Arabia	Middle East & Africa	$43B	+$4.8B	+$5.7B	+$28B	$43B2026Q1	0.513%
31	Norway	Europe	$35B	+$5.4B	+$8.6B	+$7.1B	$37B2021Q4	0.411%
32	Curaçaooffshore	Americas	$33B	+$10B	+$11B	+$13B	$33B2023Q3	0.387%
33	Indonesia	Asia-Pacific	$32B	−$1.4B	−$220M	−$7.9B	$40B2019Q4	0.377%
34	United Arab Emirates	Middle East & Africa	$28B	+$2.0B	+$7.1B	+$17B	$28B2026Q1	0.327%
35	Austria	Europe	$24B	+$2.5B	+$8.7B	+$12B	$24B2026Q1	0.288%
36	Malaysia	Asia-Pacific	$24B	+$2.6B	+$5.1B	+$6.6B	$24B2026Q1	0.286%
37	Thailand	Asia-Pacific	$24B	+$2.4B	+$5.0B	−$4.7B	$29B2019Q4	0.286%
38	Poland	Europe	$24B	+$3.3B	+$7.5B	+$14B	$24B2026Q1	0.282%
39	Türkiye	Middle East & Africa	$22B	+$5.4B	+$6.9B	+$6.6B	$22B2026Q1	0.259%
40	Chile	Americas	$19B	+$2.8B	+$6.3B	+$6.9B	$19B2026Q1	0.228%
41	Colombia	Americas	$18B	+$3.9B	+$7.6B	+$6.7B	$18B2026Q1	0.214%
42	Greece	Europe	$18B	+$1.1B	+$4.8B	+$11B	$18B2026Q1	0.211%
43	Philippines	Asia-Pacific	$15B	+$1.3B	+$2.3B	−$1.1B	$17B2021Q4	0.182%
44	New Zealand	Asia-Pacific	$14B	+$1.7B	+$3.5B	+$1.9B	$14B2026Q1	0.164%
45	Peru	Americas	$14B	+$470M	+$3.5B	+$5.9B	$14B2026Q1	0.160%
46	Hungary	Europe	$13B	+$1.6B	+$5.3B	+$6.0B	$13B2026Q1	0.150%
47	Panamaoffshore	Americas	$11B	−$90M	−$700M	+$6.5B	$12B2022Q1	0.127%
48	Portugal	Europe	$11B	−$180M	+$2.0B	+$2.4B	$11B2025Q4	0.126%
49	Romania	Europe	$10B	−$130M	+$3.4B	+$7.8B	$10B2025Q4	0.122%
50	Puerto Rico	Americas	$9.4B	+$500M	+$290M	+$920M	$12B2021Q2	0.111%
51	Kuwait	Middle East & Africa	$8.0B	−$360M	+$2.2B	+$4.7B	$8.4B2025Q4	0.095%
52	Argentina	Americas	$7.9B	+$720M	+$2.1B	−$990M	$8.9B2019Q4	0.094%
53	Qatar	Middle East & Africa	$7.8B	+$470M	+$30M	−$1.6B	$13B2021Q3	0.093%
54	Egypt	Middle East & Africa	$7.6B	+$1.1B	+$1.6B	+$610M	$7.7B2021Q3	0.090%
55	Nigeria	Middle East & Africa	$6.6B	+$2.1B	+$3.5B	+$3.9B	$6.6B2026Q1	0.079%
56	Marshall Islandsoffshore	Asia-Pacific	$5.4B	+$1.1B	+$2.1B	+$2.3B	$5.4B2024Q2	0.063%
57	Guernseyoffshore	Europe	$5.2B	−$550M	−$860M	−$1.9B	$7.1B2019Q4	0.062%
58	Czechia	Europe	$5.1B	+$530M	+$1.4B	+$2.8B	$5.1B2026Q1	0.060%
59	Virgin Islands, Britishoffshore	Americas	$4.9B	+$130M	−$290M	−$5.9B	$13B2021Q2	0.058%
60	Kazakhstan	Asia-Pacific	$4.2B	+$760M	+$1.4B	+$1.9B	$4.2B2026Q1	0.050%
61	Dominican Republic	Americas	$4.0B	+$150M	+$90M	+$600M	$4.5B2021Q2	0.048%
62	Liberiaoffshore	Middle East & Africa	$3.8B	+$30M	+$200M	+$2.6B	$4.2B2024Q3	0.045%
63	Venezuela	Americas	$3.0B	+$1.0B	+$1.6B	+$1.9B	$3.0B2026Q1	0.036%
64	Vietnam	Asia-Pacific	$2.6B	+$130M	+$630M	+$430M	$2.6B2026Q1	0.031%
65	Côte d'Ivoire	Middle East & Africa	$2.4B	+$180M	+$430M	+$900M	$3.1B2021Q3	0.029%
66	Ecuador	Americas	$2.4B	+$560M	+$1.2B	+$210M	$2.4B2026Q1	0.028%
67	Uruguay	Americas	$2.3B	−$110M	+$230M	+$220M	$2.5B2021Q3	0.027%
68	Uzbekistan	Asia-Pacific	$2.2B	−$100M	+$730M	+$2.1B	$2.3B2025Q4	0.026%
69	Oman	Middle East & Africa	$2.1B	+$110M	−$40M	+$230M	$3.1B2021Q4	0.025%
70	Mauritiusoffshore	Middle East & Africa	$2.0B	−$630M	−$740M	+$840M	$3.5B2025Q3	0.024%
71	Angola	Middle East & Africa	$2.0B	+$460M	+$490M	+$930M	$2.0B2026Q1	0.024%
72	Costa Rica	Americas	$1.8B	+$100M	+$640M	+$780M	$1.8B2026Q1	0.021%
73	Ukraine	Europe	$1.8B	+$130M	+$360M	−$4.5B	$6.6B2020Q1	0.021%
74	Serbia	Europe	$1.8B	−$30M	−$200M	−$220M	$2.3B2021Q3	0.021%
75	Morocco	Middle East & Africa	$1.6B	−$80M	+$210M	+$830M	$1.8B2021Q3	0.019%
76	Bahrain	Middle East & Africa	$1.4B	+$230M	+$320M	+$30M	$2.2B2021Q4	0.017%
77	Bahamasoffshore	Americas	$1.4B	+$160M	+$410M	+$510M	$1.4B2026Q1	0.017%
78	Sri Lanka	Asia-Pacific	$1.4B	+$20M	+$170M	−$1.1B	$2.4B2019Q4	0.016%
79	Slovakia	Europe	$1.3B	+$40M	+$370M	+$920M	$1.3B2026Q1	0.015%
80	Guatemala	Americas	$1.2B	−$70M	+$50M	+$830M	$1.3B2025Q3	0.015%
81	Paraguay	Americas	$1.2B	+$20M	+$40M	+$430M	$1.4B2021Q3	0.014%
82	Ghana	Middle East & Africa	$1.1B	−$100M	+$230M	−$700M	$2.8B2021Q2	0.013%
83	Kenya	Middle East & Africa	$1.1B	+$250M	+$330M	−$760M	$2.0B2021Q2	0.013%
84	Slovenia	Europe	$970M	−$50M	+$90M	−$200M	$1.2B2019Q4	0.011%
85	Pakistan	Asia-Pacific	$900M	+$100M	+$110M	−$600M	$1.8B2020Q1	0.011%
86	El Salvador	Americas	$870M	−$40M	−$20M	−$440M	$1.3B2019Q4	0.010%
87	Suriname	Americas	$840M	−$180M	+$530M	+$800M	$1.0B2025Q4	0.010%
88	Bulgaria	Europe	$830M	−$230M	+$280M	+$740M	$1.1B2025Q3	0.010%
89	Georgia	Europe	$750M	+$10M	+$570M	+$350M	$750M2026Q1	0.009%
90	Iceland	Europe	$750M	+$10M	+$60M	−$790M	$1.5B2019Q4	0.009%
91	Cyprus	Europe	$730M	+$250M	+$370M	−$180M	$3.8B2021Q4	0.009%
92	Virgin Islands, U.S.	Americas	$670M	+$10M	−$10M	+$480M	$700M2024Q2	0.008%
93	Latvia	Europe	$600M	+$60M	+$50M	+$470M	$600M2026Q1	0.007%
94	Russian Federation	Europe	$600M	+$10M	+$100M	−$48B	$56B2021Q4	0.007%
95	Lebanon	Middle East & Africa	$590M	+$190M	+$320M	−$180M	$770M2019Q4	0.007%
96	Zambia	Middle East & Africa	$590M	+$150M	+$190M	+$430M	$590M2026Q1	0.007%
97	Jordan	Middle East & Africa	$570M	−$50M	−$130M	−$50M	$1.0B2023Q2	0.007%
98	Benin	Middle East & Africa	$560M	+$160M	+$120M	+$410M	$560M2026Q1	0.007%
99	Lithuania	Europe	$550M	—	+$210M	−$740M	$1.3B2019Q4	0.007%
100	Uganda	Middle East & Africa	$530M	—	+$490M	+$520M	$530M2025Q4	0.006%
101	Isle of Manoffshore	Europe	$520M	+$10M	−$270M	−$400M	$1.1B2021Q4	0.006%
102	Armenia	Europe	$510M	+$180M	+$240M	+$430M	$510M2026Q1	0.006%
103	Macao	Asia-Pacific	$450M	−$50M	−$80M	−$1.1B	$1.5B2019Q4	0.005%
104	Albania	Europe	$430M	−$30M	−$30M	+$290M	$600M2025Q2	0.005%
105	Jamaica	Americas	$430M	+$10M	−$200M	−$210M	$880M2020Q3	0.005%
106	Niger	Middle East & Africa	$400M	−$160M	+$160M	+$370M	$560M2025Q4	0.005%
107	Trinidad and Tobago	Americas	$400M	+$100M	+$120M	+$50M	$400M2026Q1	0.005%
108	Malta	Europe	$370M	+$10M	+$20M	+$90M	$740M2021Q3	0.004%
109	Faroe Islands	Europe	$360M	−$10M	+$10M	+$40M	$440M2023Q2	0.004%
110	Montenegro	Europe	$360M	—	+$120M	+$320M	$390M2025Q3	0.004%
111	Senegal	Middle East & Africa	$350M	−$120M	−$260M	−$390M	$740M2019Q4	0.004%
112	Estonia	Europe	$340M	−$10M	+$50M	+$310M	$350M2025Q4	0.004%
113	Gibraltaroffshore	Europe	$340M	+$50M	+$180M	+$300M	$340M2026Q1	0.004%
114	Gabon	Middle East & Africa	$310M	+$60M	+$50M	−$60M	$470M2020Q1	0.004%
115	Mongolia	Asia-Pacific	$300M	+$40M	+$150M	−$280M	$580M2019Q4	0.004%
116	Congo	Middle East & Africa	$290M	+$250M	+$260M	+$220M	$290M2026Q1	0.003%
117	Croatia	Europe	$270M	+$30M	+$90M	−$960M	$1.2B2019Q4	0.003%
118	Azerbaijan	Europe	$260M	−$190M	−$250M	−$510M	$840M2021Q2	0.003%
119	Honduras	Americas	$260M	−$20M	−$80M	−$90M	$420M2020Q3	0.003%
120	Ethiopia	Middle East & Africa	$230M	−$10M	+$50M	+$80M	$240M2025Q4	0.003%
121	Cameroon	Middle East & Africa	$210M	+$70M	−$100M	+$20M	$310M2025Q1	0.002%
122	Guam	Asia-Pacific	$200M	—	−$20M	−$190M	$520M2020Q3	0.002%
123	Tanzania	Middle East & Africa	$190M	−$20M	−$60M	−$60M	$330M2021Q3	0.002%
124	Togo	Middle East & Africa	$150M	−$30M	+$40M	−$20M	$210M2021Q1	0.002%
125	Barbados	Americas	$140M	−$10M	+$50M	−$170M	$330M2020Q1	0.002%
126	Liechtenstein	Europe	$140M	+$30M	+$70M	+$60M	$140M2026Q1	0.002%
127	Kyrgyzstan	Asia-Pacific	$130M	+$10M	+$130M	+$130M	$130M2026Q1	0.002%
128	Mozambique	Middle East & Africa	$110M	−$20M	−$10M	+$80M	$150M2025Q3	0.001%
129	American Samoa	Asia-Pacific	$100M	+$100M	+$100M	+$100M	$100M2026Q1	0.001%
130	Tunisia	Middle East & Africa	$100M	+$10M	−$10M	−$390M	$510M2021Q2	0.001%
131	Bolivia	Americas	$90M	+$10M	+$50M	+$40M	$90M2026Q1	0.001%
132	Iraq	Middle East & Africa	$80M	−$20M	−$50M	−$890M	$970M2019Q4	0.001%
133	North Macedonia	Europe	$80M	+$30M	—	+$20M	$240M2024Q1	0.001%
134	Rwanda	Middle East & Africa	$80M	−$10M	—	−$20M	$100M2019Q4	0.001%
135	Laos	Asia-Pacific	$70M	+$30M	+$70M	+$50M	$70M2026Q1	0.001%
136	Papua New Guinea	Asia-Pacific	$70M	+$10M	+$50M	−$1.3B	$1.3B2019Q4	0.001%
137	Bangladesh	Asia-Pacific	$40M	+$10M	+$20M	−$200M	$240M2019Q4	<0.001%
138	Sudan	Middle East & Africa	$30M	—	+$30M	+$30M	$30M2025Q3	<0.001%
139	Bosnia and Herzegovina	Europe	$20M	—	+$20M	+$10M	$20M2021Q2	<0.001%
140	Belarus	Europe	$20M	—	—	−$250M	$480M2021Q2	<0.001%
141	Namibia	Middle East & Africa	$20M	—	−$20M	−$40M	$80M2021Q2	<0.001%
142	Tajikistan	Asia-Pacific	$20M	—	—	−$10M	$30M2019Q4	<0.001%
143	Andorra	Europe	$10M	—	−$10M	+$10M	$20M2021Q2	<0.001%
144	Grenada	Americas	$10M	—	—	−$10M	$20M2019Q4	<0.001%
145	Guyana	Americas	$10M	—	—	+$10M	$10M2025Q1	<0.001%
146	Monaco	Europe	$10M	—	+$10M	—	$10M2019Q4	<0.001%
147	Northern Mariana Islands	Asia-Pacific	$10M	—	—	−$10M	$20M2019Q4	<0.001%
148	Eswatini	Middle East & Africa	$10M	—	+$10M	+$10M	$10M2025Q3	<0.001%
149	Tonga	Asia-Pacific	$10M	+$10M	+$10M	+$10M	$10M2026Q1	<0.001%
150	Antigua and Barbuda	Americas	<$1M	—	—	—	$20M2022Q1	0.000%
151	Botswana	Middle East & Africa	<$1M	—	—	−$20M	$20M2019Q4	0.000%
152	Greenland	Americas	<$1M	—	—	—	<$1M	0.000%
153	Saint Lucia	Americas	<$1M	—	−$340M	−$330M	$400M2021Q2	0.000%
154	Seychelles	Middle East & Africa	<$1M	—	−$10M	−$10M	$80M2022Q1	0.000%
155	San Marino	Europe	<$1M	—	—	—	<$1M	0.000%
156	Zimbabwe	Middle East & Africa	<$1M	—	—	—	<$1M	0.000%

Rank	Country	Code	Region	Offshore	Holdings 2026Q1 ($bn)	Change 1Q	Change 4Q	Change since 2019Q4	Peak ($bn)	Peak quarter	Share of world (%)
1	Japan	JP	Asia-Pacific	no	873.94	63.28	222.8	271.24	873.94	2026Q1	10.345
2	United Kingdom	GB	Europe	no	873.06	45.03	166.05	268.32	873.06	2026Q1	10.334
3	Canada	CA	Americas	no	701.14	41.15	170.57	344.37	701.14	2026Q1	8.299
4	Ireland	IE	Europe	no	490.4	-10.64	20.4	209.8	503.3	2025Q3	5.805
5	France	FR	Europe	no	475.26	8.34	53.29	147.81	475.26	2026Q1	5.626
6	Taiwan	TW	Asia-Pacific	no	460.31	67.25	192.69	331.86	460.31	2026Q1	5.449
7	Cayman Islands	KY	Americas	yes	444	-18.49	56.15	115.42	516.58	2021Q2	5.256
8	Switzerland	CH	Europe	no	398.02	23.82	55.67	83.13	398.02	2026Q1	4.711
9	Germany	DE	Europe	no	374.01	9.76	49.96	132.79	374.01	2026Q1	4.427
10	Netherlands	NL	Europe	no	367.15	20.81	76.09	101.49	367.15	2026Q1	4.346
11	South Korea	KR	Asia-Pacific	no	323.73	85.91	192.25	186.65	323.73	2026Q1	3.832
12	India	IN	Asia-Pacific	no	241.91	-23.4	3.82	98.94	283.71	2024Q3	2.864
13	Australia	AU	Asia-Pacific	no	230.16	16.77	49.51	88	230.16	2026Q1	2.724
14	China	CN	Asia-Pacific	no	196.18	16.42	50.51	65.53	207.01	2021Q2	2.322
15	Spain	ES	Europe	no	169.54	10.03	52.44	85.91	169.54	2026Q1	2.007
16	Italy	IT	Europe	no	156.33	5.52	34.99	66.41	156.33	2026Q1	1.85
17	Brazil	BR	Americas	no	134.1	27.35	53.87	10.61	134.1	2026Q1	1.587
18	Bermuda	BM	Americas	yes	122.81	9.03	15.97	14.84	122.81	2026Q1	1.454
19	Sweden	SE	Europe	no	118.76	10.96	24.87	48.59	123.24	2021Q4	1.406
20	Mexico	MX	Americas	no	96.55	9.42	25.08	23.95	96.55	2026Q1	1.143
21	Hong Kong	HK	Asia-Pacific	no	88	6.85	28.09	-19.14	112.82	2021Q2	1.042
22	Denmark	DK	Europe	no	85.84	5.86	-10.31	28.25	133.75	2024Q2	1.016
23	Luxembourg	LU	Europe	yes	80.13	-2.25	2.91	15.41	84.32	2025Q3	0.949
24	Singapore	SG	Asia-Pacific	no	74.1	1.76	15.25	35.48	74.1	2026Q1	0.877
25	Jersey	JE	Europe	yes	67.35	8.22	11.88	22.14	73.98	2024Q2	0.797
26	Belgium	BE	Europe	no	66.76	5.75	19.13	34.09	66.76	2026Q1	0.79
27	South Africa	ZA	Middle East & Africa	no	65.77	8.29	26.1	17.59	65.77	2026Q1	0.779
28	Israel	IL	Middle East & Africa	no	58.4	4.43	12.8	33.58	58.4	2026Q1	0.691
29	Finland	FI	Europe	no	44.25	3.82	15.39	19.13	44.25	2026Q1	0.524
30	Saudi Arabia	SA	Middle East & Africa	no	43.31	4.78	5.67	28.21	43.31	2026Q1	0.513
31	Norway	NO	Europe	no	34.69	5.42	8.62	7.13	37.21	2021Q4	0.411
32	Curaçao	CW	Americas	yes	32.69	10.3	11.35	13.03	33.29	2023Q3	0.387
33	Indonesia	ID	Asia-Pacific	no	31.84	-1.4	-0.22	-7.92	39.76	2019Q4	0.377
34	United Arab Emirates	AE	Middle East & Africa	no	27.62	2.02	7.06	17.18	27.62	2026Q1	0.327
35	Austria	AT	Europe	no	24.35	2.49	8.7	12.32	24.35	2026Q1	0.288
36	Malaysia	MY	Asia-Pacific	no	24.17	2.55	5.14	6.55	24.17	2026Q1	0.286
37	Thailand	TH	Asia-Pacific	no	24.14	2.38	4.96	-4.67	28.81	2019Q4	0.286
38	Poland	PL	Europe	no	23.84	3.29	7.48	14.31	23.84	2026Q1	0.282
39	Türkiye	TR	Middle East & Africa	no	21.91	5.41	6.9	6.58	21.91	2026Q1	0.259
40	Chile	CL	Americas	no	19.26	2.78	6.27	6.94	19.26	2026Q1	0.228
41	Colombia	CO	Americas	no	18.06	3.93	7.63	6.67	18.06	2026Q1	0.214
42	Greece	GR	Europe	no	17.84	1.13	4.85	10.87	17.84	2026Q1	0.211
43	Philippines	PH	Asia-Pacific	no	15.35	1.28	2.33	-1.06	16.76	2021Q4	0.182
44	New Zealand	NZ	Asia-Pacific	no	13.89	1.66	3.46	1.87	13.89	2026Q1	0.164
45	Peru	PE	Americas	no	13.53	0.47	3.53	5.86	13.53	2026Q1	0.16
46	Hungary	HU	Europe	no	12.64	1.61	5.3	6	12.64	2026Q1	0.15
47	Panama	PA	Americas	yes	10.75	-0.09	-0.7	6.45	12.46	2022Q1	0.127
48	Portugal	PT	Europe	no	10.65	-0.18	2.04	2.41	10.83	2025Q4	0.126
49	Romania	RO	Europe	no	10.32	-0.13	3.43	7.77	10.45	2025Q4	0.122
50	Puerto Rico	PR	Americas	no	9.36	0.5	0.29	0.92	11.59	2021Q2	0.111
51	Kuwait	KW	Middle East & Africa	no	8.01	-0.36	2.23	4.72	8.37	2025Q4	0.095
52	Argentina	AR	Americas	no	7.92	0.72	2.1	-0.99	8.91	2019Q4	0.094
53	Qatar	QA	Middle East & Africa	no	7.83	0.47	0.03	-1.57	12.62	2021Q3	0.093
54	Egypt	EG	Middle East & Africa	no	7.63	1.11	1.65	0.61	7.7	2021Q3	0.09
55	Nigeria	NG	Middle East & Africa	no	6.64	2.11	3.55	3.95	6.64	2026Q1	0.079
56	Marshall Islands	MH	Asia-Pacific	yes	5.36	1.07	2.08	2.29	5.39	2024Q2	0.063
57	Guernsey	GG	Europe	yes	5.21	-0.55	-0.86	-1.91	7.12	2019Q4	0.062
58	Czechia	CZ	Europe	no	5.06	0.53	1.42	2.85	5.06	2026Q1	0.06
59	Virgin Islands, British	VG	Americas	yes	4.93	0.13	-0.29	-5.94	12.77	2021Q2	0.058
60	Kazakhstan	KZ	Asia-Pacific	no	4.19	0.76	1.4	1.87	4.19	2026Q1	0.05
61	Dominican Republic	DO	Americas	no	4.05	0.15	0.09	0.6	4.47	2021Q2	0.048
62	Liberia	LR	Middle East & Africa	yes	3.76	0.03	0.2	2.64	4.15	2024Q3	0.045
63	Venezuela	VE	Americas	no	3	1.01	1.58	1.86	3	2026Q1	0.036
64	Vietnam	VN	Asia-Pacific	no	2.65	0.13	0.63	0.43	2.65	2026Q1	0.031
65	Côte d'Ivoire	CI	Middle East & Africa	no	2.44	0.18	0.43	0.9	3.14	2021Q3	0.029
66	Ecuador	EC	Americas	no	2.36	0.56	1.16	0.21	2.36	2026Q1	0.028
67	Uruguay	UY	Americas	no	2.26	-0.11	0.23	0.22	2.49	2021Q3	0.027
68	Uzbekistan	UZ	Asia-Pacific	no	2.23	-0.1	0.73	2.1	2.33	2025Q4	0.026
69	Oman	OM	Middle East & Africa	no	2.09	0.11	-0.04	0.23	3.09	2021Q4	0.025
70	Mauritius	MU	Middle East & Africa	yes	2.04	-0.63	-0.74	0.84	3.46	2025Q3	0.024
71	Angola	AO	Middle East & Africa	no	2.02	0.46	0.49	0.93	2.02	2026Q1	0.024
72	Costa Rica	CR	Americas	no	1.78	0.1	0.64	0.78	1.78	2026Q1	0.021
73	Ukraine	UA	Europe	no	1.78	0.13	0.36	-4.45	6.58	2020Q1	0.021
74	Serbia	RS	Europe	no	1.76	-0.03	-0.2	-0.22	2.31	2021Q3	0.021
75	Morocco	MA	Middle East & Africa	no	1.57	-0.08	0.21	0.83	1.77	2021Q3	0.019
76	Bahrain	BH	Middle East & Africa	no	1.44	0.23	0.32	0.03	2.16	2021Q4	0.017
77	Bahamas	BS	Americas	yes	1.41	0.16	0.41	0.51	1.41	2026Q1	0.017
78	Sri Lanka	LK	Asia-Pacific	no	1.38	0.02	0.17	-1.06	2.44	2019Q4	0.016
79	Slovakia	SK	Europe	no	1.26	0.04	0.37	0.92	1.26	2026Q1	0.015
80	Guatemala	GT	Americas	no	1.23	-0.07	0.05	0.83	1.33	2025Q3	0.015
81	Paraguay	PY	Americas	no	1.2	0.02	0.04	0.43	1.42	2021Q3	0.014
82	Ghana	GH	Middle East & Africa	no	1.08	-0.1	0.23	-0.7	2.77	2021Q2	0.013
83	Kenya	KE	Middle East & Africa	no	1.08	0.25	0.33	-0.76	2.02	2021Q2	0.013
84	Slovenia	SI	Europe	no	0.97	-0.05	0.09	-0.2	1.17	2019Q4	0.011
85	Pakistan	PK	Asia-Pacific	no	0.9	0.1	0.11	-0.6	1.8	2020Q1	0.011
86	El Salvador	SV	Americas	no	0.87	-0.04	-0.02	-0.44	1.31	2019Q4	0.01
87	Suriname	SR	Americas	no	0.84	-0.18	0.53	0.8	1.02	2025Q4	0.01
88	Bulgaria	BG	Europe	no	0.83	-0.23	0.28	0.74	1.08	2025Q3	0.01
89	Georgia	GE	Europe	no	0.75	0.01	0.57	0.35	0.75	2026Q1	0.009
90	Iceland	IS	Europe	no	0.75	0.01	0.06	-0.79	1.54	2019Q4	0.009
91	Cyprus	CY	Europe	no	0.73	0.25	0.37	-0.18	3.75	2021Q4	0.009
92	Virgin Islands, U.S.	VI	Americas	no	0.67	0.01	-0.01	0.48	0.7	2024Q2	0.008
93	Latvia	LV	Europe	no	0.6	0.06	0.05	0.47	0.6	2026Q1	0.007
94	Russian Federation	RU	Europe	no	0.6	0.01	0.1	-47.85	55.83	2021Q4	0.007
95	Lebanon	LB	Middle East & Africa	no	0.59	0.19	0.32	-0.18	0.77	2019Q4	0.007
96	Zambia	ZM	Middle East & Africa	no	0.59	0.15	0.19	0.43	0.59	2026Q1	0.007
97	Jordan	JO	Middle East & Africa	no	0.57	-0.05	-0.13	-0.05	1.03	2023Q2	0.007
98	Benin	BJ	Middle East & Africa	no	0.56	0.16	0.12	0.41	0.56	2026Q1	0.007
99	Lithuania	LT	Europe	no	0.55	0	0.21	-0.74	1.29	2019Q4	0.007
100	Uganda	UG	Middle East & Africa	no	0.53	0	0.49	0.52	0.53	2025Q4	0.006
101	Isle of Man	IM	Europe	yes	0.52	0.01	-0.27	-0.4	1.15	2021Q4	0.006
102	Armenia	AM	Europe	no	0.51	0.18	0.24	0.43	0.51	2026Q1	0.006
103	Macao	MO	Asia-Pacific	no	0.45	-0.05	-0.08	-1.06	1.51	2019Q4	0.005
104	Albania	AL	Europe	no	0.43	-0.03	-0.03	0.29	0.6	2025Q2	0.005
105	Jamaica	JM	Americas	no	0.43	0.01	-0.2	-0.21	0.88	2020Q3	0.005
106	Niger	NE	Middle East & Africa	no	0.4	-0.16	0.16	0.37	0.56	2025Q4	0.005
107	Trinidad and Tobago	TT	Americas	no	0.4	0.1	0.12	0.05	0.4	2026Q1	0.005
108	Malta	MT	Europe	no	0.37	0.01	0.02	0.09	0.74	2021Q3	0.004
109	Faroe Islands	FO	Europe	no	0.36	-0.01	0.01	0.04	0.44	2023Q2	0.004
110	Montenegro	ME	Europe	no	0.36	0	0.12	0.32	0.39	2025Q3	0.004
111	Senegal	SN	Middle East & Africa	no	0.35	-0.12	-0.26	-0.39	0.74	2019Q4	0.004
112	Estonia	EE	Europe	no	0.34	-0.01	0.05	0.31	0.35	2025Q4	0.004
113	Gibraltar	GI	Europe	yes	0.34	0.05	0.18	0.3	0.34	2026Q1	0.004
114	Gabon	GA	Middle East & Africa	no	0.31	0.06	0.05	-0.06	0.47	2020Q1	0.004
115	Mongolia	MN	Asia-Pacific	no	0.3	0.04	0.15	-0.28	0.58	2019Q4	0.004
116	Congo	CG	Middle East & Africa	no	0.29	0.25	0.26	0.22	0.29	2026Q1	0.003
117	Croatia	HR	Europe	no	0.27	0.03	0.09	-0.96	1.23	2019Q4	0.003
118	Azerbaijan	AZ	Europe	no	0.26	-0.19	-0.25	-0.51	0.84	2021Q2	0.003
119	Honduras	HN	Americas	no	0.26	-0.02	-0.08	-0.09	0.42	2020Q3	0.003
120	Ethiopia	ET	Middle East & Africa	no	0.23	-0.01	0.05	0.08	0.24	2025Q4	0.003
121	Cameroon	CM	Middle East & Africa	no	0.21	0.07	-0.1	0.02	0.31	2025Q1	0.002
122	Guam	GU	Asia-Pacific	no	0.2	0	-0.02	-0.19	0.52	2020Q3	0.002
123	Tanzania	TZ	Middle East & Africa	no	0.19	-0.02	-0.06	-0.06	0.33	2021Q3	0.002
124	Togo	TG	Middle East & Africa	no	0.15	-0.03	0.04	-0.02	0.21	2021Q1	0.002
125	Barbados	BB	Americas	no	0.14	-0.01	0.05	-0.17	0.33	2020Q1	0.002
126	Liechtenstein	LI	Europe	no	0.14	0.03	0.07	0.06	0.14	2026Q1	0.002
127	Kyrgyzstan	KG	Asia-Pacific	no	0.13	0.01	0.13	0.13	0.13	2026Q1	0.002
128	Mozambique	MZ	Middle East & Africa	no	0.11	-0.02	-0.01	0.08	0.15	2025Q3	0.001
129	American Samoa	AS	Asia-Pacific	no	0.1	0.1	0.1	0.1	0.1	2026Q1	0.001
130	Tunisia	TN	Middle East & Africa	no	0.1	0.01	-0.01	-0.39	0.51	2021Q2	0.001
131	Bolivia	BO	Americas	no	0.09	0.01	0.05	0.04	0.09	2026Q1	0.001
132	Iraq	IQ	Middle East & Africa	no	0.08	-0.02	-0.05	-0.89	0.97	2019Q4	0.001
133	North Macedonia	MK	Europe	no	0.08	0.03	0	0.02	0.24	2024Q1	0.001
134	Rwanda	RW	Middle East & Africa	no	0.08	-0.01	0	-0.02	0.1	2019Q4	0.001
135	Laos	LA	Asia-Pacific	no	0.07	0.03	0.07	0.05	0.07	2026Q1	0.001
136	Papua New Guinea	PG	Asia-Pacific	no	0.07	0.01	0.05	-1.27	1.34	2019Q4	0.001
137	Bangladesh	BD	Asia-Pacific	no	0.04	0.01	0.02	-0.2	0.24	2019Q4	0
138	Sudan	SD	Middle East & Africa	no	0.03	0	0.03	0.03	0.03	2025Q3	0
139	Bosnia and Herzegovina	BA	Europe	no	0.02	0	0.02	0.01	0.02	2021Q2	0
140	Belarus	BY	Europe	no	0.02	0	0	-0.25	0.48	2021Q2	0
141	Namibia	NA	Middle East & Africa	no	0.02	0	-0.02	-0.04	0.08	2021Q2	0
142	Tajikistan	TJ	Asia-Pacific	no	0.02	0	0	-0.01	0.03	2019Q4	0
143	Andorra	AD	Europe	no	0.01	0	-0.01	0.01	0.02	2021Q2	0
144	Grenada	GD	Americas	no	0.01	0	0	-0.01	0.02	2019Q4	0
145	Guyana	GY	Americas	no	0.01	0	0	0.01	0.01	2025Q1	0
146	Monaco	MC	Europe	no	0.01	0	0.01	0	0.01	2019Q4	0
147	Northern Mariana Islands	MP	Asia-Pacific	no	0.01	0	0	-0.01	0.02	2019Q4	0
148	Eswatini	SZ	Middle East & Africa	no	0.01	0	0.01	0.01	0.01	2025Q3	0
149	Tonga	TO	Asia-Pacific	no	0.01	0.01	0.01	0.01	0.01	2026Q1	0
150	Antigua and Barbuda	AG	Americas	no	0	0	0	0	0.02	2022Q1	0
151	Botswana	BW	Middle East & Africa	no	0	0	0	-0.02	0.02	2019Q4	0
152	Greenland	GL	Americas	no	0	0	0	0	0		0
153	Saint Lucia	LC	Americas	no	0	0	-0.34	-0.33	0.4	2021Q2	0
154	Seychelles	SC	Middle East & Africa	no	0	0	-0.01	-0.01	0.08	2022Q1	0
155	San Marino	SM	Europe	no	0	0	0	0	0		0
156	Zimbabwe	ZW	Middle East & Africa	no	0	0	0	0	0		0

Global Capital Allocation Project Source: SEC Form N-PORT via GCAP. Quarter-end market values as of 2026Q1. Foreign holdings only; the United States and U.S. holdings are excluded.

Country Rankings — U.S. Fund Foreign Holdings

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