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FinObservatory

Who Holds What? / Methodology

Who Holds What? Methodology

The page reads the holder inventories defined for F3.2.s, F51.1.s, and F4.5.s, then selects the latest quarter shared by every required mnemonic. A missing mnemonic or value raises an error instead of producing a gap.

Release and units. Federal Reserve Board, Financial Accounts of the United States (Z.1): June 11, 2026 (2026:Q1 Z.1 release). Every selected series is quarterly. The parquet stores millions of dollars, and the page divides each value by 1,000,000 to display USD trillions. Values are amounts outstanding at quarter end and are not seasonally adjusted. Corporate equities are at market value.

Component selection

Holder sums include only the top-level component mnemonics in each table definition. Entries recorded as sub-lines are nested splits, memo items, price indexes, or otherwise non-comparable lines and are never added a second time. Treasury bill splits, equity public and closely held splits, and mortgage lender detail therefore stay outside their parent sums.

The credit-union case makes the rule concrete. At 2026:Q1, Credit unions; total mortgages; asset (FL473065005.Q, F4.5.s line 26) was 1,006,156 million dollars. It is already included in Private depository institutions; total mortgages; asset (FL703065005.Q, line 22). Adding it again would overstate the mortgage holder sum by exactly 1,006,156 million dollars.

Latest-quarter reconciliations

All residuals below were measured during this build at 2026:Q1. A residual is the published total minus the signed component sum, in the parquet's native millions of dollars.

TableIdentityPublished totalComponent sumResidual, USD millions
F3.2.sHolder total28,997,92928,997,9290
F3.2.sMarketable liability and instrument discrepancy30,641,54830,641,5480
F51.1.sHolder total106,892,981106,892,9810
F51.1.sIssuer total106,892,981106,892,9810
F4.5.sHolder total21,677,68021,677,6800
F4.5.sBorrower total21,677,68021,677,6800
F4.5.sInstrument-type total21,677,68021,677,6800

Series register

This register covers every published total, holder, issuer, borrower, instrument type, Treasury liability-side line, discrepancy, and credit-union exclusion used by the page and its reconciliation context. Labels and units come from the generated Federal Reserve catalog.

MnemonicFederal Reserve labelTable IDLineUnit
FL313161105.QFederal government; total marketable Treasury securities; liabilityF3.2.s1Millions of dollars; amounts outstanding end of period, not seasonally adjusted
FL893061105.QAll sectors; Treasury securities; assetF3.2.s4Millions of dollars; amounts outstanding end of period, not seasonally adjusted
LM153061105.QHouseholds and nonprofit organizations; Treasury securities; assetF3.2.s5Millions of dollars; amounts outstanding end of period, market value, not seasonally adjusted
LM103061103.QNonfinancial corporate business; Treasury securities; assetF3.2.s6Millions of dollars; amounts outstanding end of period, market value, not seasonally adjusted
LM113061003.QNonfinancial noncorporate business; total U.S. government securities; assetF3.2.s7Millions of dollars; amounts outstanding end of period, market value, not seasonally adjusted
LM213061103.QState and local governments; Treasury securities, excluding SLGS; assetF3.2.s8Millions of dollars; amounts outstanding end of period, market value, not seasonally adjusted
LM713061103.QCentral bank; total Treasury securities; assetF3.2.s9Millions of dollars; amounts outstanding end of period, market value, not seasonally adjusted
LM763061100.QU.S.-chartered depository institutions; Treasury securities; assetF3.2.s12Millions of dollars; amounts outstanding end of period, market value, not seasonally adjusted
LM753061103.QForeign banking offices in the U.S.; Treasury securities; assetF3.2.s13Millions of dollars; amounts outstanding end of period, market value, not seasonally adjusted
LM743061103.QBanks in U.S.-affiliated areas; Treasury securities; assetF3.2.s14Millions of dollars; amounts outstanding end of period, market value, not seasonally adjusted
LM473061105.QCredit unions; Treasury securities; assetF3.2.s15Millions of dollars; amounts outstanding end of period, market value, not seasonally adjusted
LM513061105.QProperty-casualty insurance companies; Treasury securities, including those held by U.S. residual market reinsurers; assetF3.2.s16Millions of dollars; amounts outstanding end of period, market value, not seasonally adjusted
LM543061105.QLife insurance companies; Treasury securities; assetF3.2.s19Millions of dollars; amounts outstanding end of period, market value, not seasonally adjusted
LM573061105.QPrivate pension funds; Treasury securities; assetF3.2.s22Millions of dollars; amounts outstanding end of period, market value, not seasonally adjusted
LM343061105.QFederal government pension funds; Treasury securities; assetF3.2.s25Millions of dollars; amounts outstanding end of period, market value, not seasonally adjusted
LM223061143.QState and local government employee defined benefit pension funds; Treasury securities; assetF3.2.s28Millions of dollars; amounts outstanding end of period, market value, not seasonally adjusted
FL633061105.QMoney market funds; Treasury securities; assetF3.2.s29Millions of dollars; amounts outstanding end of period, not seasonally adjusted
LM653061105.QMutual funds; Treasury securities; asset (market value)F3.2.s32Millions of dollars; amounts outstanding end of period, market value, not seasonally adjusted
LM553061103.QClosed-end funds; Treasury securities; assetF3.2.s35Millions of dollars; amounts outstanding end of period, market value, not seasonally adjusted
LM563061103.QExchange-traded funds; Treasury securities; assetF3.2.s36Millions of dollars; amounts outstanding end of period, market value, not seasonally adjusted
LM403061105.QGovernment-sponsored enterprises; Treasury securities; assetF3.2.s37Millions of dollars; amounts outstanding end of period, market value, not seasonally adjusted
FL673061103.QIssuers of asset-backed securities; Treasury securities; assetF3.2.s38Millions of dollars; amounts outstanding end of period, not seasonally adjusted
LM663061105.QSecurity brokers and dealers; Treasury securities (net); assetF3.2.s39Millions of dollars; amounts outstanding end of period, market value, not seasonally adjusted
LM733061103.QHolding companies; Treasury securities; assetF3.2.s40Millions of dollars; amounts outstanding end of period, market value, not seasonally adjusted
FL503061123.QOther financial business; Treasury securities held by central clearing counterparties; assetF3.2.s41Millions of dollars; amounts outstanding end of period, not seasonally adjusted
LM263061105.QRest of the world; Treasury securities; assetF3.2.s42Millions of dollars; amounts outstanding end of period, market value, not seasonally adjusted
LM903061103.QInstrument discrepancies; Treasury securities (level)F3.2.s45Millions of dollars; amounts outstanding end of period, market value, not seasonally adjusted
FL313169205.QFederal government; total nonmarketable Treasury securities; liabilityF3.2.s46Millions of dollars; amounts outstanding end of period, not seasonally adjusted
LM893064105.QAll sectors; corporate equities; assetF51.1.s1Millions of dollars; amounts outstanding end of period, market value, not seasonally adjusted
LM103164105.QNonfinancial corporate business; corporate equities; liabilityF51.1.s2Millions of dollars; amounts outstanding end of period, market value, not seasonally adjusted
LM793164105.QDomestic financial sectors; corporate equities; liabilityF51.1.s5Millions of dollars; amounts outstanding end of period, market value, not seasonally adjusted
LM263164100.QRest of the world; foreign corporate equities including foreign investment fund shares; liabilityF51.1.s30Millions of dollars; amounts outstanding end of period, market value, not seasonally adjusted
LM153064105.QHouseholds and nonprofit organizations; corporate equities; assetF51.1.s32Millions of dollars; amounts outstanding end of period, market value, not seasonally adjusted
LM103064103.QNonfinancial corporate business; corporate equities; assetF51.1.s33Millions of dollars; amounts outstanding end of period, market value, not seasonally adjusted
LM313064105.QFederal government; corporate equities; assetF51.1.s34Millions of dollars; amounts outstanding end of period, market value, not seasonally adjusted
LM213064103.QState and local governments; corporate equities; assetF51.1.s35Millions of dollars; amounts outstanding end of period, market value, not seasonally adjusted
FL713064103.QCentral bank; corporate equities; assetF51.1.s36Millions of dollars; amounts outstanding end of period, not seasonally adjusted
LM763064103.QU.S.-chartered depository institutions; corporate equities, excluding Federal Reserve stock and equity in GSEs; assetF51.1.s37Millions of dollars; amounts outstanding end of period, market value, not seasonally adjusted
FL753064103.QForeign banking offices in the U.S.; corporate equities; assetF51.1.s38Millions of dollars; amounts outstanding end of period, not seasonally adjusted
LM513064105.QProperty-casualty insurance companies; corporate equities, including those held by U.S. residual market reinsurers; assetF51.1.s39Millions of dollars; amounts outstanding end of period, market value, not seasonally adjusted
LM543064105.QLife insurance companies; corporate equities; assetF51.1.s40Millions of dollars; amounts outstanding end of period, market value, not seasonally adjusted
LM573064105.QPrivate pension funds, including 403(b) plans; corporate equities; assetF51.1.s41Millions of dollars; amounts outstanding end of period, market value, not seasonally adjusted
LM343064105.QFederal government pension funds; corporate equities; assetF51.1.s42Millions of dollars; amounts outstanding end of period, market value, not seasonally adjusted
LM223064145.QState and local government employee defined benefit pension funds; corporate equities; assetF51.1.s43Millions of dollars; amounts outstanding end of period, market value, not seasonally adjusted
LM653064100.QMutual funds; corporate equities; assetF51.1.s44Millions of dollars; amounts outstanding end of period, market value, not seasonally adjusted
LM553064103.QClosed-end funds; corporate equities; assetF51.1.s45Millions of dollars; amounts outstanding end of period, market value, not seasonally adjusted
LM563064100.QExchange-traded funds; corporate equities; assetF51.1.s46Millions of dollars; amounts outstanding end of period, market value, not seasonally adjusted
LM663064105.QSecurity brokers and dealers; corporate equities (net); assetF51.1.s47Millions of dollars; amounts outstanding end of period, market value, not seasonally adjusted
FL503064105.QOther financial business; corporate equities; assetF51.1.s48Millions of dollars; amounts outstanding end of period, not seasonally adjusted
LM263064105.QRest of the world; U.S. corporate equities; assetF51.1.s49Millions of dollars; amounts outstanding end of period, market value, not seasonally adjusted
FL893065005.QAll sectors; total mortgages; assetF4.5.s1Millions of dollars; amounts outstanding end of period, not seasonally adjusted
FL893065105.QAll sectors; one-to-four-family residential mortgages; assetF4.5.s2Millions of dollars; amounts outstanding end of period, not seasonally adjusted
FL893065405.QAll sectors; multifamily residential mortgages; assetF4.5.s3Millions of dollars; amounts outstanding end of period, not seasonally adjusted
FL893065505.QAll sectors; commercial mortgages; assetF4.5.s4Millions of dollars; amounts outstanding end of period, not seasonally adjusted
FL893065603.QAll sectors; farm mortgages; assetF4.5.s5Millions of dollars; amounts outstanding end of period, not seasonally adjusted
FL153165005.QHouseholds and nonprofit organizations; total mortgages; liabilityF4.5.s7Millions of dollars; amounts outstanding end of period, not seasonally adjusted
FL143165005.QNonfinancial business; total mortgages; liabilityF4.5.s8Millions of dollars; amounts outstanding end of period, not seasonally adjusted
FL313165403.QFederal government; multifamily residential mortgages; liabilityF4.5.s11Millions of dollars; amounts outstanding end of period, not seasonally adjusted
FL153065005.QHouseholds and nonprofit organizations; total mortgages; assetF4.5.s13Millions of dollars; amounts outstanding end of period, not seasonally adjusted
FL103065005.QNonfinancial corporate business; total mortgages; assetF4.5.s14Millions of dollars; amounts outstanding end of period, not seasonally adjusted
FL113065005.QNonfinancial noncorporate business; total mortgages; assetF4.5.s15Millions of dollars; amounts outstanding end of period, not seasonally adjusted
FL313065005.QFederal government; total mortgages; assetF4.5.s16Millions of dollars; amounts outstanding end of period, not seasonally adjusted
FL213065005.QState and local governments; total mortgages; assetF4.5.s21Millions of dollars; amounts outstanding end of period, not seasonally adjusted
FL703065005.QPrivate depository institutions; total mortgages; assetF4.5.s22Millions of dollars; amounts outstanding end of period, not seasonally adjusted
FL473065005.QCredit unions; total mortgages; assetF4.5.s26Millions of dollars; amounts outstanding end of period, not seasonally adjusted
FL513065505.QProperty-casualty insurance companies; commercial mortgages, including those held by U.S. residual market reinsurers; assetF4.5.s27Millions of dollars; amounts outstanding end of period, not seasonally adjusted
FL543065005.QLife insurance companies; total mortgages; assetF4.5.s28Millions of dollars; amounts outstanding end of period, not seasonally adjusted
FL573065005.QPrivate pension funds; total mortgages; assetF4.5.s29Millions of dollars; amounts outstanding end of period, not seasonally adjusted
FL223065043.QState and local government employee defined benefit pension funds; total mortgages; assetF4.5.s30Millions of dollars; amounts outstanding end of period, not seasonally adjusted
FL403065005.QGovernment-sponsored enterprises; total mortgages; assetF4.5.s31Millions of dollars; amounts outstanding end of period, not seasonally adjusted
FL413065005.QAgency-and GSE-backed mortgage pools; total mortgages; assetF4.5.s37Millions of dollars; amounts outstanding end of period, not seasonally adjusted
FL673065005.QIssuers of asset-backed securities; total mortgages; assetF4.5.s43Millions of dollars; amounts outstanding end of period, not seasonally adjusted
FL613065000.QFinance companies; total mortgages; assetF4.5.s44Millions of dollars; amounts outstanding end of period, not seasonally adjusted
FL643065075.QMortgage real estate investment trusts; total mortgages; assetF4.5.s45Millions of dollars; amounts outstanding end of period, not seasonally adjusted