Money Market News
Crane Data's September Money Fund Portfolio Holdings, with data as of Aug. 31, 2026, show that holdings of Treasuries surged while Repo declined last month. Money market securities held by Taxable U.S. money funds (tracked by Crane Data) increased by $131.9 billion to $8.343 trillion in August, after decreasing $8.7 billion in July and $4.9 billion in June. Assets increased $255.9 billion in May, but decreased $105.9 billion in April and $103.0 billion in March. Treasuries, the largest portfolio composition segment, increased by $260.3 billion. Repo, the second largest segment, decreased $95.4 billion in August. Agencies were the third largest segment, and CP remained fourth, ahead of CDs, Other/Time Deposits and VRDNs. Below, we review our Money Fund Portfolio Holdings statistics. (Visit our Content center to download, or contact us to request our latest Portfolio Holdings reports.)
Crane Data's latest monthly Money Fund Portfolio Holdings statistics will be sent out Thursday, and we'll be writing our regular monthly update on the new August data for Friday's News. But we also already uploaded a separate and broader Portfolio Holdings data set based on the SEC's Form N-MFP filings on Wednesday. (We continue to merge the two series, and the N-MFP version is now available via our Portfolio Holdings file listings to Money Fund Wisdom subscribers.) Our new N-MFP summary, with data as of August 31, includes holdings information from 1026 money funds (up 16 from last month), representing assets of $8.503 trillion (up from $8.381 trillion a month ago). Prime MMFs fell to $1.239 trillion (down from $1.242 trillion), or 14.6% of the total. We review the new N-MFP data and we also look at our revised MMF expense data, which shows charged expenses were mostly flat and money fund revenues rose to $21.8 billion (annualized) in August.
Crane Data's latest monthly Money Fund Market Share rankings show assets higher among the largest U.S. money fund complexes in August, after being lower in July. Assets have increased in 22 of the past 26 months (April 2025, March 2026, April 2026 and July 2026 saw declines). Money market fund assets rose by $71.0 billion, or 0.9%, last month to a record $8.385 trillion. Total MMF assets increased by $83.6 billion, or 1.0%, over the past 3 months, and they've increased by $777.5 billion, or 10.2%, over the past 12 months. The largest increases among the 25 largest managers last month were seen by Fidelity, Invesco, JPMorgan, BlackRock and Schwab, which grew assets by $42.4 billion, $40.0B, $26.5B, $9.2B and $7.2B, respectively. Declines in August were seen by SSIM, BNY Dreyfus, American Funds, Allspring and Northern, which decreased by $26.5 billion, $13.8B, $11.8B, $7.6B and $7.3B, respectively. Our domestic U.S. "Family" rankings are available in our MFI XLS product, our global rankings are available in our MFI International product. The combined "Family & Global Rankings" are available to Money Fund Wisdom subscribers. We review the latest market share totals, and look at money fund yields, which were higher in August.
The September issue of our flagship Money Fund Intelligence newsletter, which was sent to subscribers Tuesday morning, features the articles: "WSJ: Investors Cling to Cash; MMFs Not Trailing Inflation," which reviews recent coverage of investors holding cash in money market funds; "European Money Fund Assets Hit Record $1.7 Tril.; Holdings," which reviews the latest MFI International asset and portfolio holdings data; and "Digital Deals Proliferate: New Focus on Asia, Corporates," which covers new tokenized fund and digital cash deals. We also sent out our MFI XLS spreadsheet Tuesday a.m., and we've updated our Money Fund Wisdom database with 8/31/26 data. Our September Money Fund Portfolio Holdings are scheduled to ship on Thursday, Sept. 10, and our September Bond Fund Intelligence is scheduled to go out on Tuesday, Sept. 15. (Note: We still have a few seats left for our upcoming European Money Fund Symposium, which will take place in just over 2 weeks -- Sept. 24-25 in Paris, France!)
The Investment Company Institute's latest weekly "Money Market Fund Assets" report shows money fund assets rising $44.8 billion to a record high $7.979 trillion. Assets rose $6.1 billion the previous week and increased $900 million the week before this. MMF assets are up by $720 billion, or 9.9%, over the past 52 weeks (through 9/2/26), with Institutional MMFs up $571 billion, or 13.3% and Retail MMFs up $149 billion, or 5.0%. Year-to-date in 2026, MMF assets are up by $246 billion, or 3.2%, with Institutional MMFs up $210 billion, or 4.5% and Retail MMFs up $36 billion, or 1.2%.
A press release titled, "Federated Hermes enters strategic alliance with Conduit Digital Holdings on tokenized money market fund in Asia Pacific," tells us, "Federated Hermes, Inc. (FHI) ... announced a strategic alliance with Singapore-based Conduit Digital Holdings Pte Ltd, part of the Conduit Group, to support the launch of a regulated tokenized distribution structure in APAC. Under this arrangement, the Conduit-managed investment fund will invest in the Federated Hermes Short-Term U.S. Prime Fund. Shares of the Conduit fund, which provide exposure to the underlying Federated Hermes fund, will then be tokenized and offered to institutional and wholesale investors, in APAC." (Note: We're still taking registrations for our European Money Fund Symposium, which is in just 3 weeks -- Sept. 24-25, 2026 in Paris, France! We hope to see you there!)
Crane Data published its latest Weekly Money Fund Portfolio Holdings statistics Tuesday, which track a shifting subset of our monthly Portfolio Holdings collection. The most recent cut (with data as of Aug. 28) includes Holdings information from 55 money funds (down 12 from a week ago), or $3.725 trillion (down from $4.169 trillion) of the $8.364 trillion in total money fund assets (or 44.5%) tracked by Crane Data. (Note: Our Weekly MFPH are e-mail only and aren't available on the website. See our latest Monthly Money Fund Portfolio Holdings here and our Aug. 12 News, "August Portfolio Holdings: Assets Flat; Treasuries Jump, Repo Plunges.")
Money fund yields (7-day, annualized, simple, net) were up 1 basis point to 3.50% on average during the week ended Friday, August 28 (as measured by our Crane 100 Money Fund Index), after being unchanged the week prior. Fund yields should remain flat in coming days (and weeks) unless and until the Fed moves rates higher. Yields were 3.49% on 7/31/26, 3.47% on 6/30 and on 3/31, 3.58% on 12/31/25, 4.13% on 6/30/25 and 4.28% on average on 12/31/24. MMFs averaged 5.20% on 12/31/23. (Note: We're still taking registrations for our European Money Fund Symposium, which is in just over 3 weeks -- Sept. 24-25, 2026 in Paris, France! We hope to see you there!)
ICI's latest monthly "Trends in Mutual Fund Investing - July 2026" and "Month-End Portfolio Holdings of Taxable Money Funds" show money fund totals decreasing $43.7 billion, or -0.6%, in July to $7.857 trillion. MMFs increased by $763.9 billion, or 10.8%, over the past 12 months (through 7/31/26). Money funds' July asset decrease follows an increase of $75.9 billion in June, $157.2 billion in May, a decrease of $100.5 billion in April and $16.9 billion in March, and an increase of $59.9 billion in February. Bond fund assets decreased $45.6 billion to $5.682 trillion, and bond ETF assets increased $15.3 billion to $2.568 trillion in July 2026.
The U.S. Securities and Exchange Commission published its latest monthly "Money Market Fund Statistics" summary, which shows that total money fund assets decreased by $55.6 billion in July 2026 to $8.387 trillion, after hitting a record $8.442 trillion the month prior. The SEC shows Prime MMFs decreased $23.5 billion in July to $1.370 trillion, Govt & Treasury funds decreased $33.3 billion to $6.861 trillion and Tax Exempt funds increased $1.3 billion to $155.5 billion. Taxable MMF yields were higher in July, while Tax Exempt MMF yields were lower. The SEC's Division of Investment Management summarizes monthly Form N-MFP data and includes asset totals and averages for yields, liquidity levels, WAMs, WALs, holdings, and other money market fund trends. We review their latest numbers below. (Our MFI XLS monthly shows money fund assets decreasing $57.1 billion in July 2026 to $8.298 trillion. In August month-to-date through 8/26, total money fund assets have increased by $69.3 billion to $8.358 trillion, according to Crane Data's separate, and slightly smaller, MFI Daily series.)
A press release titled, "Stable Sea Expands WisdomTree Relationship With Two New Tokenized Funds for Business Cash" tells us, "Stable Sea ... announced it is expanding its strategic relationship with WisdomTree (WT) ... by adding two new tokenized funds to Stable Sea Terminal: the WisdomTree Short-Duration Income Digital Fund (WTSIX) and the WisdomTree Floating Rate Treasury Digital Fund (FLTTX). The newly added funds build upon current access to the WisdomTree Treasury Money Market Digital Fund (WTGXX) on Stable Sea Terminal that began in April 2026, giving finance teams a choice of tokenized, SEC-registered funds to manage operating cash directly inside their treasury workflow."
Crane Data published its latest Weekly Money Fund Portfolio Holdings statistics Tuesday, which track a shifting subset of our monthly Portfolio Holdings collection. The most recent cut (with data as of Aug. 21) includes Holdings information from 67 money funds (up 12 from three weeks ago), or $4.169 trillion (up from $3.644 trillion) of the $8.348 trillion in total money fund assets (or 49.9%) tracked by Crane Data. (Note: Our Weekly MFPH are e-mail only and aren't available on the website. See our latest Monthly Money Fund Portfolio Holdings here and our Aug. 12 News, "August Portfolio Holdings: Assets Flat; Treasuries Jump, Repo Plunges.")
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