Which Countries Hold Most US Treasury Securities?

Japan and United Kingdom remained the largest foreign holders of U.S. Treasury securities as of February 2026, underscoring continued global reliance on American government debt as a cornerstone of reserve management.

According to data from the U.S. Department of the Treasury, Japan topped the list with holdings totaling approximately $1.24 trillion, followed by the United Kingdom with around $897 billion. China ranked third, holding an estimated $693 billion in U.S. Treasuries.

The concentration of holdings among these economies reflects both trade dynamics and financial strategy. Japan and China, as major exporters, traditionally recycle trade surpluses into U.S. debt, while the UK’s position is often linked to its role as a global financial hub facilitating international capital flows.

The data also highlighted notable monthly changes. Canada recorded the largest increase in holdings during February, adding roughly $50.5 billion, an indication of shifting reserve strategies amid evolving global market conditions.

Despite rising geopolitical tensions and fluctuations in global interest rates, U.S. Treasuries continue to attract strong foreign demand, supported by the dollar’s status as the world’s primary reserve currency and the depth and liquidity of the U.S. bond market.

As governments and central banks navigate uncertainty, holdings of U.S. debt remain a key barometer of global financial confidence and capital flows.