Financial Accounts of the United States - Z.1
L.224 Corporate equities1
Billions of dollars; amounts outstanding end of period, not seasonally adjusted
| Line | Description | Series | 2023 | 2024 | 2025 | 2024:Q3 | 2024:Q4 | 2025:Q1 | 2025:Q2 | 2025:Q3 | 2025:Q4 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Line 1 | Issues at market value | LM893064105 | 78227.6 | 93822.8 | 111355.4 | 92394.8 | 93822.8 | 90479.0 | 99611.5 | 108212.2 | 111355.4 |
| Line 2 | Nonfinancial corporate business | LM103164105 | 51749.4 | 62735.9 | 73132.7 | 61385.1 | 62735.9 | 58814.4 | 65209.7 | 71340.1 | 73132.7 |
| Line 3 | Publicly traded | LM103164115 | 42480.1 | 51870.1 | 60288.6 | 50653.4 | 51870.1 | 48625.7 | 54309.0 | 58934.8 | 60288.6 |
| Line 4 | Closely held | LM103164125 | 9269.3 | 10865.8 | 12844.1 | 10731.7 | 10865.8 | 10188.7 | 10900.7 | 12405.3 | 12844.1 |
| Line 5 | Financial corporations | LM793164105 | 15211.2 | 19090.6 | 23191.5 | 18393.7 | 19090.6 | 19249.4 | 20732.1 | 22302.9 | 23191.5 |
| Line 6 | U.S.-chartered depository institutions | LM763164105 | 98.7 | 105.8 | 113.0 | 98.9 | 105.8 | 96.6 | 98.0 | 102.9 | 113.0 |
| Line 7 | Publicly traded2 | LM763164113 | 91.5 | 97.6 | 105.2 | 91.3 | 97.6 | 89.4 | 91.0 | 95.0 | 105.2 |
| Line 8 | Closely held | LM763164123 | 7.3 | 8.2 | 7.8 | 7.6 | 8.2 | 7.2 | 7.0 | 7.9 | 7.8 |
| Line 9 | Property-casualty insurance companies | LM513164105 | 1153.4 | 1462.4 | 1598.6 | 1483.3 | 1462.4 | 1687.5 | 1580.0 | 1606.9 | 1598.6 |
| Line 10 | Publicly traded | LM513164113 | 1144.7 | 1450.8 | 1584.8 | 1472.1 | 1450.8 | 1676.1 | 1566.5 | 1591.4 | 1584.8 |
| Line 11 | Closely held | LM513164123 | 8.8 | 11.5 | 13.8 | 11.2 | 11.5 | 11.3 | 13.6 | 15.6 | 13.8 |
| Line 12 | Life insurance companies | LM543164175 | 255.0 | 288.7 | 292.5 | 295.5 | 288.7 | 290.5 | 287.8 | 299.2 | 292.5 |
| Line 13 | Publicly traded | LM543164113 | 248.6 | 280.3 | 286.1 | 287.5 | 280.3 | 283.6 | 279.1 | 289.0 | 286.1 |
| Line 14 | Closely held | LM543164123 | 6.4 | 8.4 | 6.4 | 7.9 | 8.4 | 6.9 | 8.7 | 10.2 | 6.4 |
| Line 15 | Closed-end funds | LM554090005 | 250.3 | 251.1 | 256.9 | 260.6 | 251.1 | 248.1 | 251.5 | 257.3 | 256.9 |
| Line 16 | Exchange-traded funds | LM564090005 | 8085.7 | 10305.4 | 13373.2 | 9968.6 | 10305.4 | 10369.1 | 11492.1 | 12635.1 | 13373.2 |
| Line 17 | Government-sponsored enterprises2 | LM403164105 | 258.9 | 325.3 | 389.3 | 309.8 | 325.3 | 342.0 | 360.2 | 378.1 | 389.3 |
| Line 18 | Mortgage REITs | LM643164105 | 66.2 | 64.6 | 74.8 | 70.4 | 64.6 | 68.8 | 66.9 | 72.1 | 74.8 |
| Line 19 | Publicly traded | LM643164113 | 62.2 | 60.5 | 70.1 | 65.8 | 60.5 | 64.6 | 62.9 | 67.3 | 70.1 |
| Line 20 | Closely held | LM643164123 | 4.1 | 4.1 | 4.8 | 4.6 | 4.1 | 4.2 | 4.0 | 4.7 | 4.8 |
| Line 21 | Brokers and dealers | LM663164105 | 105.3 | 169.7 | 244.8 | 138.6 | 169.7 | 163.7 | 225.9 | 272.6 | 244.8 |
| Line 22 | Publicly traded | LM663164113 | 102.1 | 163.3 | 233.5 | 133.8 | 163.3 | 157.7 | 217.3 | 260.3 | 233.5 |
| Line 23 | Closely held | LM663164123 | 3.2 | 6.4 | 11.3 | 4.8 | 6.4 | 6.0 | 8.7 | 12.3 | 11.3 |
| Line 24 | Holding companies | LM733164105 | 2626.6 | 3410.1 | 4266.0 | 3053.7 | 3410.1 | 3279.9 | 3750.1 | 4034.1 | 4266.0 |
| Line 25 | Publicly traded2 | LM733164113 | 2508.9 | 3254.4 | 4062.2 | 2915.2 | 3254.4 | 3137.3 | 3593.1 | 3850.9 | 4062.2 |
| Line 26 | Closely held | LM733164123 | 117.7 | 155.7 | 203.9 | 138.5 | 155.7 | 142.6 | 157.0 | 183.2 | 203.9 |
| Line 27 | Other financial business | LM503164105 | 2310.9 | 2707.6 | 2582.3 | 2714.4 | 2707.6 | 2703.1 | 2619.6 | 2644.7 | 2582.3 |
| Line 28 | Publicly traded2 | LM503164115 | 2208.0 | 2583.6 | 2446.9 | 2597.3 | 2583.6 | 2583.3 | 2495.5 | 2507.1 | 2446.9 |
| Line 29 | Closely held | LM503164125 | 102.9 | 123.9 | 135.4 | 117.1 | 123.9 | 119.8 | 124.1 | 137.6 | 135.4 |
| Line 30 | Rest of the world3 | LM263164100 | 11267.0 | 11996.3 | 15031.2 | 12616.0 | 11996.3 | 12415.3 | 13669.6 | 14569.2 | 15031.2 |
| Line 31 | Holdings at market value | LM893064105 | 78227.6 | 93822.8 | 111355.4 | 92394.8 | 93822.8 | 90479.0 | 99611.5 | 108212.2 | 111355.4 |
| Line 32 | Household sector | LM153064105 | 32247.7 | 39055.0 | 47185.8 | 38333.2 | 39055.0 | 37751.1 | 41264.5 | 45740.4 | 47185.8 |
| Line 33 | Nonfinancial corporate business | LM103064103 | 2913.8 | 3260.5 | 3658.5 | 3278.0 | 3260.5 | 3083.9 | 3377.0 | 3604.7 | 3658.5 |
| Line 34 | Federal government | LM313064105 | 255.2 | 317.5 | 387.2 | 305.8 | 317.5 | 329.7 | 342.4 | 371.9 | 387.2 |
| Line 35 | State and local governments | LM213064103 | 131.5 | 137.1 | 144.4 | 140.6 | 137.1 | 142.1 | 140.4 | 146.3 | 144.4 |
| Line 36 | Monetary authority | FL713064103 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 |
| Line 37 | U.S.-chartered depository institutions | LM763064103 | 59.7 | 79.8 | 95.6 | 82.0 | 79.8 | 81.2 | 85.0 | 91.1 | 95.6 |
| Line 38 | Foreign banking offices in U.S. | FL753064103 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 |
| Line 39 | Property-casualty insurance companies | LM513064105 | 596.3 | 545.9 | 612.8 | 545.1 | 545.9 | 538.9 | 577.9 | 595.2 | 612.8 |
| Line 40 | Life insurance companies | LM543064105 | 695.9 | 800.5 | 829.7 | 806.1 | 800.5 | 783.7 | 831.2 | 859.8 | 829.7 |
| Line 41 | Private pension funds | LM573064105 | 3689.1 | 4448.5 | 5399.6 | 4355.6 | 4448.5 | 4210.7 | 4677.9 | 5291.9 | 5399.6 |
| Line 42 | Federal government pension funds | LM343064105 | 534.5 | 650.5 | 733.5 | 635.5 | 650.5 | 599.1 | 663.7 | 718.2 | 733.5 |
| Line 43 | State and local govt. pension funds | LM223064145 | 3157.2 | 3381.4 | 3742.6 | 3434.3 | 3381.4 | 3276.0 | 3525.6 | 3664.5 | 3742.6 |
| Line 44 | Mutual funds | LM653064100 | 13882.1 | 15646.1 | 17097.7 | 15905.7 | 15646.1 | 14991.8 | 16443.0 | 17030.0 | 17097.7 |
| Line 45 | Closed-end funds | LM553064103 | 99.8 | 104.1 | 112.4 | 107.8 | 104.1 | 102.7 | 107.1 | 111.9 | 112.4 |
| Line 46 | Exchange-traded funds | LM563064100 | 6433.4 | 8352.9 | 10759.9 | 8030.6 | 8352.9 | 8249.2 | 9262.4 | 10207.9 | 10759.9 |
| Line 47 | Brokers and dealers | LM663064105 | 116.1 | 143.2 | 140.9 | 156.4 | 143.2 | 148.7 | 182.0 | 169.3 | 140.9 |
| Line 48 | Other financial business | FL503064105 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 |
| Line 49 | Rest of the world4 | LM263064105 | 13415.2 | 16899.6 | 20454.9 | 16278.2 | 16899.6 | 16190.2 | 18131.5 | 19609.1 | 20454.9 |
| Memo: | |||||||||||
| Line 50 | Publicly traded equity at market value5 | LM883164115 | 57440.9 | 70642.5 | 83096.8 | 68755.4 | 70642.5 | 67577.1 | 74718.1 | 80866.2 | 83096.8 |
| Line 51 | Closely held equity at market value6 | LM883164123 | 9519.7 | 11184.1 | 13227.4 | 11023.4 | 11184.1 | 10486.7 | 11223.7 | 12776.8 | 13227.4 |
| Line 52 | S corporations | LM883164133 | 7380.3 | 8761.1 | 10572.6 | 8558.2 | 8761.1 | 8065.1 | 8897.1 | 10170.6 | 10572.6 |
| Line 53 | C corporations | LM883164135 | 2139.4 | 2422.9 | 2654.8 | 2465.2 | 2422.9 | 2421.6 | 2326.6 | 2606.2 | 2654.8 |
| Line 54 | Percent change in Dow Jones U.S. Total Market Index | PC073164013 | 24.06 | 22.21 | 15.59 | 5.81 | 2.37 | -5.18 | 10.72 | 7.89 | 2.05 |
Notes:
- Includes shares of exchange-traded funds, closed-end funds, and real estate investment trusts. Excludes mutual fund shares shown on table L.226.
- Includes corporate equities issued by financial corporations under the federal financial stabilization programs.
- Holdings of foreign corporate equities and investment fund shares by U.S. residents; includes American Depositary Receipts (ADRs).
- Holdings of U.S. issues by foreign residents.
- Equal to the sum of lines 3, 7, 10, 13, 15, 16, 17, 19, 22, 25, and 28.
- Equal to the sum of lines 4, 8, 11, 14, 20, 23, 26, and 29.
Last Update: 2026-03-19