Retail investors in the US are showing a strong appetite for technology stocks and exchange-traded funds (ETFs), according to UBS’s market making clients. On Monday, these clients had net inflows of $227 million, with the majority going towards ETFs and software companies.

The S&P 500 Equal Weight ETF (RSP) was the most popular stock across the platform, with retail investors ramping up their buying since December. This is likely due to a desire to maintain US equity exposure while reducing concentration risk in mega cap tech. Software companies were also heavily bought, with Microsoft ($13 million) and Oracle ($9 million) being the second and third most-bought stocks across the platform.

Interestingly, silver ETFs have seen a significant sell-off in 2026, erasing all net buying in 2025. This could be due to a decrease in investor interest in the metal or a shift towards other asset classes. On the other hand, international/broad-based ETFs have seen a massive ramp up of inflows, reaching record levels in December and remaining elevated in 2026.

Overall, retail investors are clearly optimistic about the US market, with technology and ETFs being their preferred choices. This could be due to the ongoing economic recovery and the potential for continued growth in these sectors. As always, it’s important to do your own research and consult with a financial advisor before making any investment decisions.