US households and nonprofits had a record 48.2% of their financial assets in stocks at the end of June, well above the 38.7% at the peak of the dot-com bubble.
That is the highest share in Federal Reserve data going back to 1945.
The figure counts stocks held directly and indirectly, including through mutual funds, defined contribution pension funds and life insurance products.
The share jumped 3.6 percentage points in the second quarter alone, from 44.7% at the end of March.
Here is how the share has moved at key points.
Second quarter of 2026 48.2%, a record
Fourth quarter of 2025 45.4%, the previous record
First quarter of 2000 38.7%, the dot-com peak
Second quarter of 1982 9.5%, the low in the data
In mid-1982, less than a dime of every dollar in household financial assets sat in stocks. By the end of June it was nearly half.
Here is more on how the S&P 500 has performed since 1957, and you can find more charts on our market charts hub.
With this much household money riding on stocks, rallies feel great and selloffs hit harder at the kitchen table.
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