📈 Japan and China’s Share of U.S. Treasury Holdings Falls as the U.K. Rises

Japan and China—once the dominant foreign holders of U.S. Treasury securities—have steadily reduced their shares over the past two decades. Japan’s share fell from a peak of 40% in 2004 to 20% in 2009 and then to 12.9% by Q3 2025. China’s share dropped from a high of 29% in 2011 to just 7.6% in Q3 2025.

In contrast, the United Kingdom has become a more prominent holder, with its share rising from 2.2% in 2011 to 9.4% in Q3 2025.