On Thursday, January 1, the annual report released by Global SWF, a global sovereign wealth fund, revealed that in 2025, sovereign wealth funds and public pension fund institutions invested a total of $132 billion in the United States, accounting for approximately half of the total investments made last year. Meanwhile, the funds directed towards large emerging markets decreased by nearly one-third compared to 2024.
According to Reuters, the latest report from Global SWF shows that the assets managed by giant investment institutions and central banks reached a record $60 trillion last year, with sovereign wealth fund investments representing two-thirds of the total investment in the United States.
Diego Lopez, the Managing Director of Global SWF, wrote in the report that there has been a shift in the investment landscape of recipient countries. He added that the world’s largest economy benefited from investments in digital infrastructure, data centers, and artificial intelligence companies.
The report indicates that the assets under management of sovereign wealth funds have surpassed $15 trillion, marking a historical high. This report combines public data and official reports to track the assets and expenditures of global state-owned investment institutions, including sovereign wealth funds, pension funds, and central banks.
Overall, sovereign wealth fund investments grew by 35%, reaching $179.3 billion.
While funds flowed into the United States, emerging markets faced setbacks – despite their decent performance in 2025.
Lopez stated, “The biggest losers are emerging markets, especially China, India, Indonesia, and Saudi Arabia. The investment received in 2025 was disappointing, declining by 28% compared to 2024, accounting for only 15% of the total.”
In contrast, private credit investors are increasingly turning to emerging markets, seeking higher returns and more favorable project structures.
Lopez mentioned, “New funds will depend on income sources: state-owned sovereign wealth funds that rely on oil will face income stagnation in 2026, while natural gas and metals like copper will generate new fund flows.”
Lopez pointed out that the investment flow data does not yet include the estimated total value of the “Big Seven” stocks held by sovereign wealth funds and pension funds, amounting to $2.2 trillion – Apple, Microsoft, Google parent company Alphabet, Amazon, Nvidia, Meta, and Tesla.
Amid President Trump reshaping the economic landscape, although investors are attempting to diversify their investments, the trend of funds shifting towards the United States underscores its attractiveness.
This wave of investment comes after Gulf countries astonishingly pledged to invest billions of dollars in the United States – often facilitated through their powerful sovereign wealth funds.
Saudi Arabia was the first country visited by President Trump in his second term, and in November last year, he met with Saudi Crown Prince Mohammed bin Salman at the White House. Trump announced that Saudi Arabia had agreed to invest $600 billion in the United States, while Prince Salman pledged to increase the total investment to $1 trillion.
Additionally, the United Arab Emirates committed to investing $1.4 trillion in the United States, and Qatar plans to inject $500 billion into the U.S. over the next decade.