Foreign investors are entering the U.S. stock market at an unprecedented speed. Global investment funds have invested about 2.5% of their total assets in U.S. equities this year, more than double the amount since May. This figure is also significantly higher than the average from 2002 to 2025, when the same period of the year typically saw a 0.3% outflow. Even after excluding the top and bottom 10% of years for inflows and outflows, the average inflow for global funds this year is only about 1.5%. The current demand for U.S. equities is at an all‑time high.