Here’s a breakdown of American households’ $67 trillion worth of financial assets

Despite the stock market being at all-time highs, Americans’ direct ownership in the market has been trending down.

But that trend has been partially offset by their indirect ownership.

“Direct ownership of equity assets has declined over time,” wrote Kostin in a note Wednesday. “Households own only 19% of equities directly compared with 40% of equities held directly and indirectly through mutual funds and pension funds.”

When you combine direct and indirect exposure, that totals $26.8 trillion of Americans’ $67 trillion worth of household financial assets.

Screen Shot 2015 12 10 at 1.37.03 PMGoldman Sachs

Kostin noted that through direct ownership, mutual funds and retirement funds, American households own nearly 70% of the stock market.

In comparison, international investors hold the second-most percentage of the stock market with 16%, and hedge funds own just 4%.

No matter if its called a mutual fund, an IRA, or a 401(k), Americans put a lot of their money in stocks.

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