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United States Sovereign Wealth Fund (proposed)

United States · North America · Proposed or pipeline fund · Not an IFSWF member

ProposedReport a correction
Focus

proposed: what it invests in

Geography Domestic and global

Scale

proposed: how big it is, and on what basis

Not created
Announced target, not current assetsAs of
Transparency

proposed: what it publishes

0.5 of 10 Band 1 of 5

Published 0 · Partly 1 · Not published 9

Our 10 item score. It measures what is public, not how well a fund is run.

Order signedS1
3 Feb 2025 (Plan in 90 days)
As of
Federal assets citedS4
USD 5.7T (Context, not fund assets)
As of
House billS3
H.R.3116 (Introduced 30 Apr 2025)
As of
StatusS1
Not created
As of

At a glance. A United States sovereign wealth fund was proposed in a February 2025 executive order that asked the Treasury and Commerce Secretaries for a plan within 90 days. No fund has been created and no law has been enacted. A House bill to study the idea was introduced in April 2025 and referred to committee. S1 S3

Key points

  • Executive order of 3 February 2025 asked for a plan within 90 days. S1
  • The plan was to cover funding, investment strategy, structure, governance and legal issues. S1
  • The order creates no fund and is subject to appropriations. S1
  • H.R.3116, the American Sovereign Wealth Fund Exploration Act, was introduced on 30 April 2025 and sent to the Financial Services Committee. S3
  • The OMB Director was also to help develop the plan. S4
  • The White House cited USD 5.7 trillion of assets held directly by the federal government as context. S4

Interesting facts

  • The order says the fund should not destabilise markets. S1
  • The stated aim is to invest in great national endeavors for the benefit of all Americans. S4
  • The White House counted 23 US states with their own funds, holding USD 332 billion in total. S4

Mandate and goals

The order says a fund should promote fiscal sustainability, ease the tax burden for American families and businesses, and strengthen economic and strategic security. S1

  • Promote fiscal sustainability. S1
  • Lessen the tax burden. S1
  • Establish economic and strategic security. S1

How it invests

Industries. Sector agnostic S1
Asset classesNot published S4
StagesNot published S4
GeographyDomestic and global. Not set S1
Direct / through funds / co-investNo / No / No S1
Ticket sizeNot operating S1
External managersNot set S1
Co-investment programmeNone S1

Past investments

The fund has not published a list of investments.

Investment process

The Treasury and Commerce Secretaries, with the Assistant to the President for Economic Policy, were to recommend a structure; creating a fund would need funding by appropriation. S1

  1. Executive order directs a plan. S1
  2. House study bill introduced. S3
  3. Any fund would need legal authority and funding. S1

How to approach: No approach route; no fund exists. S1

Size and returns

  • Headline size: Not created (Announced target, not current assets, as of 2025-02-03) S1
  • Returns: the fund does not publish a return figure.

Leadership

The fund does not publish named leaders.

Governance and transparency

  • Legal basis: Executive order of 3 February 2025; no statute S1
  • Oversight: Not established S1
  • Auditor: Not applicable S1
  • Not an IFSWF member. S2

Transparency score: 0.5 of 10 (band 1 of 5). Our own 10-item rubric; see the methodology page.

  • Partly published: governance and mandate documents. S1
  • Not published: total assets, annual return, long-term returns, asset allocation, geographic or sector split, holdings or deal list, audited financial statements, named leadership, regular reporting schedule. S1

History

DateEvent
2025-02-03Executive order directs a sovereign wealth fund plan. S1
2025-04-30H.R.3116 introduced in the House. S3

For family offices

No fund exists, so there is no investor programme. S1

Reports

Common questions

Does the US have a federal sovereign wealth fund?

No. A plan was ordered in February 2025 but no fund has been created. S1

Who was asked to design it?

The Secretary of the Treasury and the Secretary of Commerce. S1

Is there legislation?

A House study bill, H.R.3116, was introduced in April 2025. S3

All sovereign wealth funds in North America · All proposed or pipeline funds · All funds in United States

Sources

  1. S1The White House, A Plan for Establishing a United States Sovereign Wealth Fund
  2. S2IFSWF, members list
  3. S3Congress.gov, H.R.3116 American Sovereign Wealth Fund Exploration Act
  4. S4The White House, fact sheet on the sovereign wealth fund order

Disclaimer

Informational only. SovereignWealthFunds.com is an independent public-source reference. It is not affiliated with or endorsed by any fund named on it, and it is not investment, legal or tax advice. Figures are as of the dates shown next to them and may have changed; please read each fund's official pages, linked on its profile. To report an error, use the contact page. Copyright SovereignWealthFunds.com. All rights reserved.

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