The survey of 309 treasury professionals highlights a move toward conservative liquidity management. As of March 2026, 46% of organizations expanded their U.S. cash holdings, a notable rise from 38% the previous year. This preference for stability is reshaping portfolios; bank deposit allocations have fallen to 42%—the lowest level since 2011—while Treasury securities have gained favor as firms seek to fortify their balance sheets.

Formal governance remains a cornerstone of this strategy, with 75% of organizations now relying on written investment policies. While digital assets remain on the periphery, industry experts suggest the landscape could shift. Tom Hunt, Director of Treasury Practice at AFP, noted that upcoming regulations, including the GENIUS Act, necessitate that treasury teams build their knowledge now to prepare for future adoption. Meanwhile, money market funds remain a critical tool for institutional investors, with 41% of companies now seeking 24/7 liquidity features from these vehicles.