State Street Institutional
Investor Indicators
Investment insights based on facts, not surveys

The State Street Institutional Investor Indicators provide investors, policymakers, and the public with insights into the aggregated and anonymized positioning, risk appetite, and portfolio carbon exposures of thousands of institutional investors around the world, representing trillions of dollars in assets.

State Street Institutional Investor
Holdings Indicator

The Holdings Indicator tracks the aggregated portfolio holdings of institutional investors across stocks, bonds, and cash in percentage terms.

Key Facts
  • The Institutional Investor Holdings Indicator measures the broad asset allocations of institutional investors to cash, stocks, and bonds
  • During times of market stress, cash allocations tend to rise while stock allocations tend to fall
  • When short-term interest rates are relatively high, cash holdings tend to rise relative to bonds
  • Released monthly
Our latest report


  • The State Street Holdings Indicators showed that long-term investor allocations to equities rose 33bps to 53.7%.
  • Cash holdings well a further 0.4 percentage points to 18.4%, this is the first time in tenth months that cash holdings are below their long-term average.
  • Fixed income holdings were left largely unchanged after their sharp rise last month.


  • The State Street Risk Appetite Index bounced back to 0.09 in May revealing a modest risk on bias across the month.
  • Within this moderate risk on environment long-term investors began to reassess their USD overweight once again.
  • Long-term investors rediscovered their appetite for higher yielding FX and fixed income instruments in May.
  • Fixed Income ex Bills
  • Equities
  • Cash