Equity Client Flow Trends

Latest edition · September 1, 2026

BofA Securities Equity Client Flow Trends Extreme sector flows into Cons. Disc. & Health Care, out of Industrials

BofA clients were net buyers of US equities last week (+$5.8bn), led by institutional and hedge fund purchases of large caps and single stocks in Tech, Consumer Discretionary, and Health Care. Conversely, Industrials saw capitulatory selling in both single stocks and ETFs, pushing 4-week average sector flows to record lows.

During the week of August 24, 2026, BofA clients resumed net buying of US equities, allocating $5.8bn overall ($5.3bn in single stocks and $0.5bn in equity ETFs). Buying was spearheaded by institutional clients (+$4.1bn) and hedge funds (+$2.1bn), focusing entirely on large caps while selling mid and small caps. Sector activity showed unprecedented divergence: Technology led total inflows (+$2.8bn), while Consumer Discretionary (+$2.1bn) and Health Care (+$1.4bn) recorded their largest weekly single-stock inflows in BofA history since 2008. In contrast, Industrials experienced massive outflows (-$1.6bn across stocks and ETFs), driving its 4-week moving average to an all-time low. Corporate buybacks accelerated, driven by Financials, though 4-week average repurchase activity remains down 31% year-over-year.

Key takeaways from the latest edition

• 1.Clients returned to net buying of US equities (+$5.8bn total) driven by single stocks (+$5.3bn) while equity ETFs saw modest inflows (+$0.5bn).
• 2.Buying was led by institutional clients (+$4.1bn) and hedge funds (+$2.1bn), while private clients remained net sellers (-$0.4bn) for the fifth consecutive week.
• 3.Consumer Discretionary and Health Care experienced record single-week inflows in BofA's data history since 2008, while Tech led absolute inflows.

What this series covers

• Institutional and hedge fund client-driven buying
• Record Consumer Discretionary and Health Care inflows
• ETFs: Value>Growth, Industrial outflows
• Cumulative flows by year
• Weekly flows by client, sector, & size
• Corporate client buybacks
• ETF flow color
• Rolling four-week average trends by sector (single stock)
• Rolling four-week average trends by client type
• Rolling four-week average trends by market cap
• ETF flows: z-scores (3m and 1yr)
• Equity ETF flows: 4-week average flows by sector
• Equity ETFs: 4-week average flows by strategy
• Equity ETFs: 4-week average flows by market cap
• Cumulative equity sector flows: single stock vs. ETF
• Cumulative Equity ETF flows by Size and Style
• Addendum: Institutional flow: broker-dealer vs. other
• Appendix: BofA Equity Client Flow Trends Methodology

Edition archive

• BofA Securities Equity Client Flow Trends Extreme sector flows into Cons. Disc. & Health Care, out of Industrials

  September 1, 2026

• Equity Client Flow Trends - Near-record institutional inflows ahead of earnings start

  July 14, 2026

• BofA Securities Equity Client Flow Trends Net buying for the first time in 5 weeks

  July 7, 2026

• BofA Securities Equity Client Flow Trends Big equity outflows (except small caps)

  June 30, 2026

• BofA Securities Equity Client Flow Trends Record Tech outflows 20260609

  June 10, 2026

• BofA Securities Equity Client Flow Trends Buybacks pick up for the first time in over a year

  June 3, 2026