Beginning 2011:Q4, stocks outstanding are estimated as a share of TIC form SLT Aggregate Holdings of Long-Term Securities by U.S. and Foreign Residents, memo item Fund shares, column 9 Grand Total. Share is based on rest of the world holdings of mutual funds as a share of total funds from the Survey of Foreign Portfolio Investment in the United States, adjusted to exclude estimated holdings of ETFs, REITs, and hedge fund, private equity, and limited partner private fund shares. Before 2011:Q4, second quarter stocks outstanding are benchmarked to data on rest of the world holdings of mutual funds from the Survey of Foreign Portfolio Investment in the United States, adjusted to exclude estimated holdings of ETFs, REITs, and hedge fund, private equity, and limited partner private fund shares. Other quarters' stocks outstanding between benchmarks are estimated by multiplying total mutual fund shares (FOF series FL654090000) by the ratio of rest of the world's mutual fund holdings to total mutual fund shares in benchmark quarters. Capital gains are estimated by multiplying rest of the world's stocks outstanding of mutual fund holdings by the ratio of total mutual fund shares capital gains (FOF series FR654090000) to the stocks outstanding of total mutual fund shares (FOF series FL654090000). Unadjusted transactions are the change in stocks outstanding less capital gains. Data for the most recent ten years show no significant seasonality.
Last edited on: 09/15/2014