BREAKING: US households now own ~42% of the US equity market, their highest proportion since the late 1990s. This proportion has risen +7 percentage points since 2020. Foreign investors are the 2nd-largest owners, accounting for 18%, up from 16% in 2020. Mutual funds rank 3rd, at 15%, down from 23% in 2020. Meanwhile, ETF ownership has increased +3 percentage points over the last 6 years, to 10%, its highest on record. By comparison, pension and retirement funds own 8% of the market, while hedge funds own just 1%. Household demand for stocks is stronger than ever.