BofA Securities Equity Client Flow Trends: Biggest Financials inflows in over a decade ahead of earnings start

Research evidence excerpt

BofA Securities Equity Client Flow Trends: Biggest Financials inflows in over a decade ahead of earnings start

Accessible version

BofA Securities Equity Client Flow Trends

Biggest Financials inflows in over a decade

ahead of earnings start

Near-record institutional client inflows 14 July 2026

• 2nd week of inflows: Last week (S&P 500 +1.2%), clients were net buyers of US Equity and Quant Strategy

equities for the 2nd straight week. Inflows were driven by both single stocks ($5.1bn; United States

3rd largest week ever since ‘08) and equity ETFs ($1.8bn).

• Buying was driven by institutional clients, who had their second-biggest buying

week ever in our data history since ’08 (biggest was in late 2020), or the 20th

highest when normalized by S&P 500 mkt. cap. Hedge fund clients were net sellers

for the 1st time in 5 weeks and retail clients were net buyers for the 3rd consecutive

week. Clients bought equities across all three size segments based on stock+ETF

flows. Rolling 4 wk. avg. flows for small & micro cap equities are at an all-time high JillEquityCarey& QuantHall, StrategistCFA

after seeing outflows most weeks YTD. BofAS

+1 646 855 3327

jill.carey@bofa.com

• Corporate client buybacks slowed for a 7th week, dropping to their lowest level

Trey Brown

since Oct. YTD, annualized buybacks by clients are slightly below full-year ‘25 levels Equity & Quant Strategist

and below ‘24 records, but above 2016-23 levels. BofAS +1 646 855 2689

harold.brown2@bofa.com

Near-record Tech and Financials buying; big Energy inflow

• Clients bought stocks in 7 of 11 sectors, led by Tech and Financials, which

Exhibit 1: Institutional clients are the both saw their 2nd largest inflows ever (93rd and 98th percentile weeks, respectively,