Money Market Fund Monitor: holdings by asset class

What do money market funds hold?

On 30 September 2026, money market funds held $8.40 trillion, of which $3.48 trillion in US Treasury securities.

Year-endsMonth-ends

Money market fund investments at the last month-end of each year, $ trillion

The last month-end of each year since 30 Nov 2010The newest month-end last

All10Y

FromTo

$0.0T$5.0T$7.5T$10.0T20122014201620182020202220242026$8.40T$3.48T$2.87T

31 Dec 2010 Total $3.04T Treasury $0.38T Repo $0.53T31 Dec 2011 Total $2.91T Treasury $0.50T Repo $0.53T31 Dec 2012 Total $2.98T Treasury $0.51T Repo $0.59T31 Dec 2013 Total $3.05T Treasury $0.55T Repo $0.56T31 Dec 2014 Total $3.08T Treasury $0.48T Repo $0.70T31 Dec 2015 Total $3.06T Treasury $0.53T Repo $0.77T31 Dec 2016 Total $2.92T Treasury $0.85T Repo $0.85T31 Dec 2017 Total $3.10T Treasury $0.76T Repo $1.03T31 Dec 2018 Total $3.34T Treasury $0.95T Repo $1.06T31 Dec 2019 Total $4.02T Treasury $1.12T Repo $1.24T31 Dec 2020 Total $4.79T Treasury $2.47T Repo $1.07T31 Dec 2021 Total $5.23T Treasury $1.82T Repo $2.50T31 Dec 2022 Total $5.21T Treasury $1.07T Repo $2.98T31 Dec 2023 Total $6.40T Treasury $2.27T Repo $2.67T31 Dec 2024 Total $7.25T Treasury $2.99T Repo $2.62T31 Dec 2025 Total $8.31T Treasury $3.52T Repo $2.99T30 Sep 2026 Total $8.40T Treasury $3.48T Repo $2.87T

$0.0T$5.0T$7.5T$10.0T20182020202220242026$8.40T$3.48T$2.87T

31 Dec 2016 Total $2.92T Treasury $0.85T Repo $0.85T31 Dec 2017 Total $3.10T Treasury $0.76T Repo $1.03T31 Dec 2018 Total $3.34T Treasury $0.95T Repo $1.06T31 Dec 2019 Total $4.02T Treasury $1.12T Repo $1.24T31 Dec 2020 Total $4.79T Treasury $2.47T Repo $1.07T31 Dec 2021 Total $5.23T Treasury $1.82T Repo $2.50T31 Dec 2022 Total $5.21T Treasury $1.07T Repo $2.98T31 Dec 2023 Total $6.40T Treasury $2.27T Repo $2.67T31 Dec 2024 Total $7.25T Treasury $2.99T Repo $2.62T31 Dec 2025 Total $8.31T Treasury $3.52T Repo $2.99T30 Sep 2026 Total $8.40T Treasury $3.48T Repo $2.87T

The linesLatest: 30 Sep 2026

All investments$8.40T
US Treasury securities$3.48T
Repurchase agreements$2.87T

Money market fund investments at each month-end, $ trillion

The last 13 month-ends

FromTo

The linesLatest: 30 Sep 2026

All investments$8.40T
US Treasury securities$3.48T
Repurchase agreements$2.87T

Each point is one month-end; pointing at the chart shows its date and holdings.

Select a line to followLatest: 30 Sep 2026

All investments$8.40T
US Treasury securities$3.48T
Repurchase agreements$2.87T

Observed 30 Sep 2026.

Right now

US Treasury securities were money market funds' largest holding at the end of September 2026: $3.48 trillion, 41.5% of the total.

Repurchase agreements were $2.87 trillion, 34.2% of the total; the median yield on Treasury repo was 3.88%.

What they holdShare of the total, September 2026

Each asset class as a share of the $8.40 trillion total, repo whole.

US Treasury securities$3.48 trillion · 41.5%
Repurchase agreements$2.87 trillion · 34.2%
Federal agency and GSE securities$1.19 trillion · 14.2%
Bank-related assets$495.24 billion · 5.9%
Other assets$351.83 billion · 4.2%

See every asset against the month before and a year earlier

Repo by collateralOf $2.87 trillion in repo

Backed by US Treasury securities$1.71 trillion
Backed by federal agency and GSE securities$982.64 billion
Backed by other assets$174.03 billion
With the Federal Reserve$6.11 billion

Over a year

All investments: $8.40 trillion at the end of September 2026, against $8.53 trillion a month before and $7.77 trillion a year earlier.

US Treasury securities: $3.48 trillion, against $3.23 trillion a year earlier.

See the last 13 month-ends

Understanding these figures

Where it stands today

Money market funds held $8.40 trillion at the end of September 2026.

What do these figures count?

The Office of Financial Research totals the holdings that US money market funds report each month to the Securities and Exchange Commission, by asset class.

Repurchase agreements are split by the collateral behind them, and the amount placed with the Federal Reserve (its reverse repo facility) is shown as part of repo. Amounts are rounded to whole millions of dollars by 500metrics; shares of the total are ours. The median yield on Treasury repo is as OFR publishes it.

The numbers behind the chart

How much did the funds hold in each asset?$ million, against the month before and a year earlier, repo split by collateral

Money market fund investments by asset, 30 September 2026 ($ million)
Asset	Amount	Share of total	Month before	A year earlier
US Treasury securities	3,483,974	41.5%	3,696,649	3,232,354
Repurchase agreements	2,871,495	34.2%	2,832,194	2,772,423
of which: backed by US Treasury securities	1,714,824	20.4%	1,694,927	1,768,142
of which: backed by federal agency and GSE securities	982,638	11.7%	968,593	876,793
of which: backed by other assets	174,032	2.1%	168,673	127,487
of which: with the Federal Reserve	6,114	0.1%	n/a	22,046
Federal agency and GSE securities	1,194,287	14.2%	1,174,138	998,795
Bank-related assets	495,239	5.9%	471,949	449,240
Other assets	351,828	4.2%	355,703	318,590
All investments	8,396,822	100.0%	8,530,632	7,771,403

The table scrolls sideways; the first column stays in place.

What did they hold at each of the last 13 month-ends?Total, Treasury securities and repo, newest first

Total, Treasury securities and repo at each month-end, newest first ($ million)
Month-end	Total	Treasury securities	Repo
30 Sep 2026	8,396,822	3,483,974	2,871,495
31 Aug 2026	8,530,632	3,696,649	2,832,194
31 Jul 2026	8,411,937	3,452,556	2,925,257
30 Jun 2026	8,400,624	3,281,213	3,074,627
31 May 2026	8,400,987	3,378,364	3,004,242
30 Apr 2026	8,166,506	3,181,659	2,985,723
31 Mar 2026	8,250,853	3,426,438	2,931,972
28 Feb 2026	8,353,288	3,406,753	3,003,577
31 Jan 2026	8,236,309	3,375,779	2,960,967
31 Dec 2025	8,305,489	3,517,832	2,994,433
30 Nov 2025	8,062,827	3,472,654	2,834,441
31 Oct 2025	7,923,910	3,405,964	2,765,829
30 Sep 2025	7,771,403	3,232,354	2,772,423

What did they hold at each year-end?The last month-end of each year, newest first

Total, Treasury securities and repo at the last month-end of each year, newest first ($ million)
Month-end	Total	Treasury securities	Repo
30 Sep 2026	8,396,822	3,483,974	2,871,495
31 Dec 2025	8,305,489	3,517,832	2,994,433
31 Dec 2024	7,253,369	2,994,851	2,620,200
31 Dec 2023	6,401,329	2,269,524	2,665,979
31 Dec 2022	5,212,146	1,067,387	2,976,683
31 Dec 2021	5,228,672	1,821,943	2,495,743
31 Dec 2020	4,786,153	2,470,098	1,068,773
31 Dec 2019	4,015,748	1,122,603	1,243,303
31 Dec 2018	3,343,615	945,064	1,057,764
31 Dec 2017	3,096,275	756,196	1,028,203
31 Dec 2016	2,922,538	850,977	854,911
31 Dec 2015	3,058,256	530,479	771,897
31 Dec 2014	3,081,916	484,687	704,713
31 Dec 2013	3,049,958	547,201	558,021
31 Dec 2012	2,983,450	510,326	591,027
31 Dec 2011	2,912,186	496,757	529,643
31 Dec 2010	3,040,420	378,843	531,221

What do these figures leave out, and how are they cited?Limits, dates and how to cite

What this number cannot tell you

Month-end holdings: amounts inside the month can differ.
The record begins on 30 November 2010.

Observed 30 Sep 2026. Checked 19 Oct 2026, 15:29 UTC.

How to cite this

Office of Financial Research, Short-term Funding Monitor, money market fund investments, 30 September 2026. Compiled by 500metrics, "What do money market funds hold?", https://500metrics.com/money-market-funds.

Page updated 27 Oct 2026, 02:36 UTC