Table 1.1. U.S. Net International Investment Position at the End of the Period

Quarterly, Not Seasonally Adjusted

		Millions of Dollars
Line	Name	Q4 2025	Q3 2025	Q4 2024
line 1	U.S. net international investment position	-27,537,021	-27,551,087	-26,539,470
line 2	Net international investment position excluding financial derivatives	-27,528,397	-27,556,310	-26,571,620
line 3	Financial derivatives other than reserves net	-8,624	5,223	32,150
line 4	U.S. assets	42,957,223	41,337,431	35,719,353
line 5	Assets excluding financial derivatives	40,998,013	39,459,067	33,403,186
line 6	Financial derivatives other than reserves gross positive fair value	1,959,210	1,878,364	2,316,167
	By functional category:
line 7	Direct investment at market value	13,920,126	13,257,396	11,128,794
line 8	Portfolio investment	19,200,196	18,566,174	15,770,445
line 9	Financial derivatives other than reserves gross positive fair value	1,959,210	1,878,364	2,316,167
line 10	Other investment	6,492,483	6,390,807	5,594,002
line 11	Reserve assets	1,385,207	1,244,690	909,945
line 12	U.S. liabilities	70,494,244	68,888,519	62,258,823
line 13	Liabilities excluding financial derivatives	68,526,410	67,015,378	59,974,806
line 14	Financial derivatives other than reserves gross negative fair value	1,967,834	1,873,141	2,284,017
	By functional category:
line 15	Direct investment at market value	20,313,979	19,921,077	17,810,047
line 16	Portfolio investment	38,248,608	37,221,298	33,146,179
line 17	Financial derivatives other than reserves gross negative fair value	1,967,834	1,873,141	2,284,017
line 18	Other investment	9,963,822	9,873,002	9,018,580