The entire world wants US stocks. Foreign investors outside the US purchased +$181.4 billion of US equities in June. The private sector alone bought a record +$144.7 billion, bringing an annualized rate to +$1.74 trillion, an all-time high. Over the past 3 months, private purchases have totaled +$351.1 billion, equivalent to an annualized pace of +$1.4 trillion, also an all-time high. This surpasses the 2025 annualized record by ~$400.0 billion. By comparison, foreign official institutions, such as central banks and sovereign wealth funds, purchased +$36.7 billion in June. As a result, private investors accounted for ~80% of all foreign equity purchases over this period. The appetite for US stocks is stronger than ever.