The Kobeissi Letter Says Foreign Investors Are Pouring Into U.S. Stocks at a Record Pace

Foreign investors are moving into U.S. equities at a record pace, according to a post by The Kobeissi Letter. According to ChainCatcher, global investment funds’ cumulative year-to-date inflows into U.S. stocks have risen to about 2.5% of their total assets under management. The Kobeissi Letter said that since May, that share has more than doubled. By comparison, the average for the same year-to-date period from 2002 to 2025 was an outflow of 0.3%, indicating current inflows are well above historical norms. It added that if the top 10% of inflow years and the bottom 10% of outflow years from 2002 to 2025 are excluded, the average year-to-date inflow into U.S. stocks is about 1.5% of total assets under management. The post also said this year’s pace of inflows has already exceeded the full-year total inflows seen in the median 50% of years since 2002, describing current demand for U.S. stocks as unprecedented.