Wall Street Is Trading Near Record Highs. The Richest 1% Own More Than Half Of America's Stock Wealth. Merin Rebecca Thomas Mon, October 12, 2026 at 2:06 PM EDT 6 min read ^GSPC -0.12% CL=F +2.13% Traders work on the floor of the New York Stock Exchange (NYSE) at the opening bell, in New York City on October 5, 2026. Getty Images Wall Street entered a busy earnings week trading near record highs, but more than half of America's stock and mutual fund wealth is concentrated among the richest 1% of households, according to the latest Federal Reserve figures, highlighting the unequal ownership of financial assets as markets continue to climb.
The wealthiest 1% held 50.9% of U.S. corporate equities and mutual fund shares in the second quarter of 2026, compared with just 0.6% owned by the bottom half of households. The figures come from the Federal Reserve's Distributional Financial Accounts, updated September 18.
The contrast comes as major U.S. banks prepare to release third-quarter earnings this week, while investors await fresh inflation and consumer spending data. The S&P 500 and Nasdaq finished last week near record levels, although trading was mixed Monday as higher oil prices weighed on technology shares.
The Federal Reserve's Distributional Financial Accounts show that the top 1% of American households held approximately $32.89 trillion in corporate equities and mutual fund shares at the end of June.
By comparison, the bottom 50% collectively held about $374.2 billion in the same asset category.
That means the wealthiest 1% owned nearly 88 times as much in stocks and mutual fund shares as the least wealthy half of households combined.
The concentration has increased over the past year. The richest 1% held 50.4% of those assets in the second quarter of 2025, compared with 50.9% a year later.
The bottom half's share remained at 0.6% in the latest quarter, according to Federal Reserve data published by the St. Louis Fed.
The figures cover corporate equities and mutual fund shares, including investments held directly and indirectly by households. They do not represent ownership of every publicly traded share in the U.S. market, which also includes institutional and foreign investors.
The second quarter brought substantial increases in the value of stock investments across wealth groups, although the dollar gains differed sharply.
Among the richest 1%, corporate equity and mutual fund holdings increased from approximately $27.92 trillion in the first quarter to $32.89 trillion in the second, a rise of about $4.97 trillion.
For the bottom 50%, holdings increased from $313.9 billion to $374.2 billion, a gain of approximately $60.3 billion.
The figures represent changes in aggregate asset values, which can reflect market movements as well as purchases, sales and other changes in holdings. They should not be interpreted entirely as realized investment profits.
Households between the 50th and 90th wealth percentiles held approximately $7.36 trillion in corporate equities and mutual fund shares in the second quarter, up from $6.40 trillion in the preceding three months.
The data illustrates how the size of existing investment portfolios influences the dollar value of changes in household stock wealth.
The stock-market gains were a major factor behind the broader increase in U.S. household wealth earlier this year.
According to the Federal Reserve's Financial Accounts of the United States, the combined net worth of households and nonprofit organizations reached $195.9 trillion in the second quarter, increasing $12.8 trillion from the previous three months.
The value of directly and indirectly held corporate equities rose by $10.7 trillion during the quarter, while real estate assets increased by approximately $1.1 trillion.
Net worth represents the difference between total assets and outstanding liabilities, including mortgages and other consumer debt.
The Fed's figures showed that total financial assets held by households and nonprofits reached $153.5 trillion, compared with $141.8 trillion in the previous quarter.
Corporate equities accounted for $74 trillion of those financial assets, making them a significant component of aggregate household wealth.
The Bottom Half Owns Just 2.3% Of Total Household Wealth
The gap in stock ownership is also reflected in the distribution of overall household net worth. The richest 1% controlled 32.5% of U.S. household net worth in the second quarter, up from 31.1% a year earlier.
Meanwhile, the bottom half of households held just 2.3% of total net worth, according to the Federal Reserve's wealth distribution data.
Household net worth includes more than stock investments. It also accounts for residential property, savings, retirement accounts, business interests and other assets, minus debts.
For many middle-class families, home equity represents a major source of accumulated wealth, while higher-wealth households generally hold larger amounts of financial investments.
The distinction means changes in stock prices and property values can affect households differently depending on the assets they own.
A household with substantial stock investments can experience significant changes in reported wealth during a market rally, while a family holding most of its assets in home equity or cash savings may see a different financial outcome.
The latest wealth figures provide context as Wall Street begins another quarterly earnings season.
JPMorgan Chase, Goldman Sachs, Citigroup and Wells Fargo are scheduled to release their third-quarter results Tuesday, October 13. Bank of America and Morgan Stanley are expected to follow Wednesday.
Investors are also awaiting September's Consumer Price Index report on October 14, along with additional economic data later in the week.
The reports arrive after a period of strong U.S. stock-market performance. The S&P 500 gained approximately 1.2% last week, while the Nasdaq Composite rose 0.9%, supported by a rebound in technology stocks.
Monday's trading, however, showed a mixed picture, with higher oil prices adding pressure to some technology shares while energy companies advanced.
The upcoming corporate earnings reports will provide updated financial results from major businesses, while the Federal Reserve's distributional figures offer a separate measure of how stock-market wealth is allocated among American households.
Although rising stock values can increase household net worth, those gains do not necessarily translate into higher incomes or more money available for everyday expenses.
Stock-market wealth can fluctuate with asset prices, while household spending is generally funded through wages, retirement benefits, savings and other sources of income.
The Federal Reserve's data also distinguishes between financial assets and net worth, which includes debts that may offset the value of investments, property and other holdings.
For households with limited stock exposure, changes in wages and consumer prices can have a more immediate effect on day-to-day finances than movements in major market indexes.
With U.S. equities trading near record levels and another earnings season underway, the latest Federal Reserve figures show the scale of stock-market assets held by different wealth groups: nearly $32.9 trillion among the richest 1%, compared with approximately $374 billion among the bottom half of American households.
