Assume a person that's not domiciled in the US. That person has a US brokerage / trading account (say in Fidelity or Charles Schwab) that holds shares of various listed companies (both US-based and international companies, i.e. non-US based).
In the event of death, would the entire valuation of the brokerage account be considered a US situs asset (for purposes of the estate tax) simply because the brokerage account is held in the US? Or would only the shares of US companies be subject to the estate tax? I can find various definitions and examples of what US situs assets are but I couldn't find that specific case identified explicitly.
It is clear that shares of US-based companies are US situs. My question is about shares of non-US companies which are held in a US-based brokerage account.