Germany household equity and investment fund shares
Germany household equity and investment fund shares stood at 3,084.5 EUR billion in Q1 2026, according to Deutsche Bundesbank. It is one of the indicators in the Household financial accounts table (Value · Quarterly), with a complete series running from Q1 1999 to Q1 2026. The complete series with an interactive chart, free to download.
This indicator in the Household financial accounts table
| Indicator | Q1-2026 | Q4-2025 | Q3-2025 | Q2-2025 | Q1-2025 | Q4-2024 | Q3-2024 | Q2-2024 | Q1-2024 | Q4-2023 | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Equity and investment fund shares4 | 3,084.5 | 3,132.7 | 3,070.3 | 2,994.1 | 2,902.7 | 2,868.8 | 2,791 | 2,734.1 | 2,704.6 | 2,580.3 | |
| Listed shares | 664.2 | 684 | 667.3 | 639.7 | 614.2 | 590.3 | 579.5 | 566.8 | 569.8 | 527.1 | |
| Unlisted shares | 231.5 | 246.4 | 248.5 | 246.6 | 244.4 | 248.6 | 248.3 | 247.3 | 247.1 | 244.4 |
Understanding germany household equity and investment fund shares
Ownership stakes in corporate equity and collective investment vehicles are gathered in this aggregate, combining quoted equities, unlisted enterprise shares, and units in investment funds. It encompasses domestic and international equity holdings alongside fund shares spanning equity, fixed-income, real estate, and mixed asset strategies. The series stands alongside debt securities and deposits, excluding direct bond holdings, bank deposit accounts, and claims on insurance policies or pension funds.
Valued at current market prices, this aggregate is the most volatile component of household financial balance sheets, with quarter-on-quarter movements dominated by stock market swings and mutual fund unit repricing. Measuring changes on a year-on-year basis helps filter out short-term market turbulence to reveal underlying patterns in household capital participation and fund accumulation. Users should note that unquoted equity holdings are estimated using balance sheet book values or capitalization models, which are revised as corporate annual accounts become available. Importantly, fund units that invest in bonds or property are classified here rather than under debt securities or non-financial assets.
Frequently asked questions
- Are mutual funds that invest exclusively in bonds classified in this series?
- Yes, all collective investment fund units are recorded under this category regardless of whether the underlying fund holds equities, bonds, or real estate.
- How are unlisted corporate shares valued in household accounts?
- Unlisted shares are estimated using corporate net asset values or market capitalization ratios of comparable listed firms rather than continuous exchange prices.
- Does this row include company pension entitlements invested in stocks?
- No, occupational and life insurance pension entitlements are recorded separately under insurance and pension entitlements rather than direct equity holdings.