Retail investors' net purchases of US stocks have fallen to the lowest level since 2020, with total holdings reaching a historic high

According to VandaTrack data, retail investors have net bought $13 billion worth of US stocks in the past month, the lowest level since 2020. Since the beginning of 2026, retail investors' monthly net purchases have decreased by $18 billion, a decrease of 58%. The net purchase amount of individual stocks decreased by $8 billion, a decrease of 71%, to $3.2 billion, the lowest level since the first quarter of 2020. The total holdings of retail investors reached a record high of $500 billion, doubling from mid-2024. Retail investors sold stocks at a similar rate as they bought stocks, compressing their net buying volume. Retail trading in the market is cooling down.