---
title: "Top N S124 fund debt-holding countries by latest value"
method: GET
path: "/api/v1/ecb/shs/top"
tags: ["Hedge Fund Intelligence"]
---

# Top N S124 fund debt-holding countries by latest value

`GET /api/v1/ecb/shs/top`

Top N euro-area reporters ranked by latest-quarter S124 debt holdings. Excludes the U2 euro-area aggregate so the leaderboard only includes individual member countries (use `/shs/by-country/u2` for the aggregate timeseries directly). Default `n=10`.

## Query parameters

- `n` integer

## Response `200`

Top N individual euro-area countries by S124 debt holdings.

- EnvelopeEcbShsTop
  - `data` EcbShsTop, required — Top N foreign-fund debt holders by latest stock value.
    - `period` string, required
    - `count` integer, required
    - `rows` EcbShsSectorsTopRow[], required
      - `rank` integer, required
      - `country` string, required
      - `name` string, required
      - `value_eur_mn` number, nullable
  - `meta` SugraMeta, required — Metadata attached to every /api/v1/* response envelope.
    - `endpoint` string, required — Requested endpoint path.
    - `data_time` string, required — ISO 8601 UTC timestamp of the source data, not of the request.
    - `response_time` string, required — ISO 8601 UTC timestamp when this response was produced.
    - `provider` string, required — API name and version.
    - `source` string, nullable — Identifier of the primary upstream source used for this response.
    - `attribution` string, nullable — Human-readable attribution mandated by an upstream source (e.g. a securities regulator or self-regulatory organization). Present only on responses whose source requires the owner and source to be clearly identified. Do not remove or alter it when using the response.
    - `fallback_used` boolean, nullable — True when the primary source failed and a fallback produced the data.
    - `fallback_chain` string[], nullable — Ordered list of sources attempted, in the order they were tried.
    - `cached` boolean, nullable — True when this response was served from the internal cache.
    - `stale` boolean, nullable — True when the cached response was returned after the upstream rate-limited or errored. Clients can use this to detect degraded data.

## Other responses

- `401` — Missing or invalid `x-api-key` header.
- `422` — Validation Error
- `429` — Daily rate limit exceeded. Check `X-RateLimit-Reset` for the next window.
- `503` — Upstream source is temporarily unavailable. Retry after a short delay.

---

[API](https://skmtc.net/sugra/apis/sugra-api.md) · [All operations](https://skmtc.net/sugra/apis/sugra-api/llms.txt) · [OpenAPI document](https://skmtc-service-staging.skmtc.workers.dev/v1/apis/sugra/sugra-api/versions/dcf7427e6897/schema)