Financial Accounts of the United States - Z.1
S124.7.s Hedge funds 🕮 PDF
| Line | Description | Series | 2023 | 2024 | 2025 | 2025:Q1 | 2025:Q2 | 2025:Q3 | 2025:Q4 | 2026:Q1 | 2026:Q2 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Line 1 | Total assets (net of short sales) | FL624090005 | 1643.7 | 1829.8 | 2089.3 | 1790.4 | 1877.4 | 1988.9 | 2089.3 | 2134.7 | 2386.0 |
| Line 2 | Foreign deposits | FL623091003 | 16.9 | 17.2 | 18.2 | 21.4 | 16.1 | 18.0 | 18.2 | 22.9 | 28.6 |
| Line 3 | Debt securities (net)(2) | LM624022005 | 310.8 | 288.7 | 277.2 | 286.7 | 292.3 | 279.8 | 277.2 | 320.6 | 364.8 |
| Line 4 | Treasury securities (net) | LM623061103 | 100.8 | 102.2 | 102.8 | 111.1 | 106.2 | 98.1 | 102.8 | 108.8 | 123.5 |
| Line 5 | Agency- and GSE-backed securities (net) | LM623061703 | 11.0 | -8.8 | -10.2 | -7.9 | -7.9 | -9.0 | -10.2 | -11.5 | -13.4 |
| Line 6 | Municipal securities (net) | LM623062003 | 19.3 | 19.4 | 15.8 | 17.4 | 15.3 | 15.5 | 15.8 | 15.2 | 16.0 |
| Line 7 | Corporate and foreign bonds (net) | LM623063005 | 179.6 | 175.9 | 168.8 | 166.1 | 178.7 | 175.1 | 168.8 | 208.2 | 238.6 |
| Line 8 | Loans | FL624041005 | 233.1 | 251.1 | 313.7 | 284.4 | 299.6 | 294.5 | 313.7 | 334.7 | 366.2 |
| Line 9 | Security repurchase agreements | FL622051003 | 23.7 | 31.1 | 56.2 | 36.9 | 51.1 | 53.4 | 56.2 | 43.6 | 28.9 |
| Line 10 | Other loans and advances | FL623069005 | 209.5 | 220.0 | 257.5 | 247.5 | 248.5 | 241.0 | 257.5 | 291.1 | 337.3 |
| Line 11 | Cash receivables due from U.S. broker dealers | FL623067005 | 131.0 | 110.0 | 139.2 | 130.1 | 125.9 | 116.5 | 139.2 | 166.9 | 216.1 |
| Line 12 | Loans to nonfinancial corporate business | FL623069805 | 78.5 | 110.0 | 118.3 | 117.4 | 122.6 | 124.5 | 118.3 | 124.2 | 121.2 |
| Line 13 | Corporate equities (net)(2) | LM623064105 | 622.9 | 757.2 | 856.2 | 707.4 | 770.1 | 821.2 | 856.2 | 788.0 | 906.2 |
| Line 14 | Money market fund shares | FL623034003 | 93.7 | 102.7 | 111.8 | 86.6 | 82.6 | 90.2 | 111.8 | 107.2 | 120.6 |
| Line 15 | Mutual fund shares | LM623064203 | 6.8 | 7.2 | 13.6 | 8.7 | 9.5 | 11.1 | 13.6 | 17.4 | 24.6 |
| Line 16 | Miscellaneous assets(3) | FL623093005 | 359.4 | 405.6 | 498.6 | 395.1 | 407.3 | 474.3 | 498.6 | 543.9 | 575.1 |
| Line 17 | Liabilities and shares | FL624194005 | 1643.7 | 1829.8 | 2089.3 | 1790.4 | 1877.4 | 1988.9 | 2089.3 | 2134.7 | 2386.0 |
| Line 18 | Total liabilities (excluding securities sold short) | FL624190005 | 235.5 | 283.6 | 311.5 | 243.2 | 254.6 | 291.7 | 311.5 | 334.1 | 378.0 |
| Line 19 | Loans | FL624141005 | 131.1 | 155.0 | 216.0 | 174.2 | 184.7 | 201.5 | 216.0 | 228.0 | 252.3 |
| Line 20 | Security repurchase agreements | FL622151003 | 56.4 | 64.9 | 86.8 | 83.7 | 86.2 | 85.1 | 86.8 | 86.6 | 87.4 |
| Line 21 | Margin loans due to U.S. depository institutions | FL623168003 | 14.4 | 17.3 | 27.4 | 18.7 | 21.7 | 25.1 | 27.4 | 31.4 | 33.7 |
| Line 22 | Margin loans due to U.S. security brokers and dealers | FL623167003 | 60.3 | 72.8 | 101.8 | 71.8 | 76.8 | 91.2 | 101.8 | 110.0 | 131.2 |
| Line 23 | Miscellaneous liabilities | FL623193005 | 104.4 | 128.6 | 95.5 | 69.0 | 69.9 | 90.2 | 95.5 | 106.1 | 125.7 |
| Line 24 | Total shares outstanding | LM623164703 | 1408.2 | 1546.1 | 1777.8 | 1547.2 | 1622.8 | 1697.2 | 1777.8 | 1800.6 | 2008.0 |
| Memo: | |||||||||||
| Select gross balance sheet items | |||||||||||
| Line 25 | Gross asset value (GAV)(4) | FL622000603 | 2024.9 | 2260.8 | 2706.6 | 2252.1 | 2396.6 | 2562.9 | 2706.6 | 2785.7 | 3185.9 |
| Line 26 | Nonfinancial assets | FL622010003 | 7.1 | 10.8 | 11.6 | 12.5 | 11.6 | 12.1 | 11.6 | 12.0 | |
| Line 27 | Government securities (long) | FL623061003 | 142.1 | 137.8 | 134.6 | 148.8 | 143.2 | 131.7 | 134.6 | 140.5 | |
| Line 28 | Corporate and foreign bonds (long) | FL623063003 | 223.7 | 234.8 | 266.2 | 228.2 | 237.9 | 248.6 | 266.2 | 287.7 | 321.5 |
| Line 29 | Corporate equities (long) | FL623064103 | 949.1 | 1104.3 | 1349.9 | 1078.8 | 1200.5 | 1294.6 | 1349.9 | 1331.4 | 1593.8 |
| Line 30 | Financial derivative assets (notional amount) | FL623098003 | 664.2 | 775.3 | 1195.8 | 1110.3 | 1184.8 | 1115.6 | 1195.8 | 1401.2 | |
| Line 31 | Gross liabilities (including securities sold short) | FL624190015 | 616.7 | 714.6 | 928.8 | 704.9 | 773.7 | 865.7 | 928.8 | 985.1 | |
| Line 32 | Total securities sold short | FL624160005 | 381.2 | 431.0 | 617.3 | 461.7 | 519.2 | 574.0 | 617.3 | 651.0 | 799.9 |
| Line 33 | Debt securities sold short | FL624162205 | 55.0 | 83.8 | 123.6 | 90.3 | 88.7 | 100.5 | 123.6 | 107.6 | 112.3 |
| Line 34 | Government securities sold short | FL624161003 | 11.0 | 24.9 | 26.2 | 28.2 | 29.6 | 27.0 | 26.2 | 28.0 | 29.5 |
| Line 35 | Corporate and foreign bonds sold short | FL624163003 | 44.1 | 58.9 | 97.4 | 62.2 | 59.2 | 73.5 | 97.4 | 79.5 | 82.8 |
| Line 36 | Equity securities sold short | FL624164103 | 326.2 | 347.2 | 493.7 | 371.4 | 430.4 | 473.4 | 493.7 | 543.4 | 687.6 |
| Line 37 | Financial derivative liabilities (notional amount) | FL623198003 | 607.4 | 717.9 | 1045.1 | 968.9 | 964.9 | 981.6 | 1045.1 | 1171.9 | |
| Borrowing items | |||||||||||
| Line 38 | Total borrowing | FL624135305 | 528.3 | 624.5 | 892.5 | 654.2 | 728.0 | 850.1 | 892.5 | 956.7 | |
| Line 39 | Borrowing via security repurchase agreements | FL622151305 | 33.1 | 42.4 | 51.7 | 55.3 | 49.4 | 49.9 | 51.7 | 60.1 | |
| Line 40 | From domestic institutions | FL622151323 | 18.7 | 30.4 | 38.2 | 40.7 | 35.4 | 36.1 | 38.2 | 46.6 | |
| Line 41 | From foreign institutions | FL622151333 | 14.4 | 11.9 | 13.6 | 14.6 | 14.0 | 13.8 | 13.6 | 13.5 | |
| Line 42 | Borrowing via prime brokerage | FL623167305 | 445.8 | 547.3 | 780.0 | 560.1 | 636.0 | 747.1 | 780.0 | 843.2 | |
| Line 43 | From domestic institutions | FL623167323 | 385.5 | 470.7 | 642.7 | 489.9 | 548.4 | 621.0 | 642.7 | 700.4 | |
| Line 44 | From foreign institutions | FL623167333 | 60.3 | 76.7 | 137.3 | 70.2 | 87.6 | 126.1 | 137.3 | 142.8 | |
| Line 45 | Other secured borrowing | FL623168303 | 40.0 | 25.4 | 47.6 | 29.6 | 33.5 | 40.2 | 47.6 | 43.9 | |
| Line 46 | Unsecured borrowing | FL623168203 | 9.4 | 9.4 | 13.2 | 9.2 | 9.2 | 12.9 | 13.2 | 9.5 | |
Notes:
- Domestic hedge funds. Data begin 2012:Q4.
- Debt and equity securities are shown net of securities sold short to avoid double counting securities held by the security lender and security buyer in the short sale. See memo items for detail.
- Physical real estate and commodities included miscellaneous assets.
- Gross asset value is total assets.
Last Update: September 11, 2026