Shareholder figures 2025: share investments continue to gain momentum

Participation in the stock market continued to increase in 2025. This is shown by the shareholder figures published today by Deutsches Aktieninstitut. At 14.1 million, the number of people in Germany who invest in equity funds, ETFs or shares has reached a new record level. This development is being driven by younger people between the ages of 14 and 39, who have been the largest investor group since 2024. The widespread use of savings plans, which allow even small amounts to be invested regularly, is evidence of conscious, long-term investment.

‘People in Germany have recognised that there is no way around equities if they want to achieve good long-term returns. We are seeing that broadly diversified and continuous investments are also being made with lower incomes. Equity investments are firmly anchored in the middle of society,’ explains Henriette Peucker, Chief Executive and Member of the Board of Deutsches Aktieninstitut.

Equity funds and ETFs remain dominant

In 2025, a total of 14.1 million people in Germany owned equity investments, an increase of 2 million compared to the previous year. 9.2 million people opted exclusively for equity funds or ETFs, while 2 million only held shares in individual companies in their portfolios. A further 2.9 million people combined both forms of equity saving. In total, 12.1 million people in Germany held an equity fund or ETF investment, and 4.9 million people held shares in individual companies. This means that one in five people took advantage of the stock market and thus participated in the success of companies.

Strong growth among younger people, women and East German investors

The number of younger investors rose sharply in 2025, more than doubling since the mid-2010s. 4.9 million people under the age of 40 owned equity funds, ETFs or shares. That was 1.2 million more than in the previous year and over 60 per cent of the total increase. One in two people under the age of 40 regularly invests in ETFs or equity funds through a savings plan.

The number of female equity investors has also developed positively. In 2025, 1 million more women than in the previous year were invested in the stock market (up 24 per cent). Among men, an increase of 940,000 (up 12 per cent) was observed. In a regional comparison, the eastern German states (including Berlin) grew more strongly than the western German states, resulting in a moderate flattening of the east-west divide.

Social tailwind for equities stronger than ever

Those who invest in equities on a long-term, broadly diversified and continuous basis can achieve an average return of six to nine per cent per annum. Diversification in terms of content protects against price fluctuations of individual shares or sectors, while diversification in terms of time through regular investments smooths out the usual market fluctuations. Adherence to these basic rules makes shares a particularly suitable instrument for retirement provision.

At the same time, a strong stock market enables companies to finance growth and jobs. The German Bundestag recognised this when it passed the Standortfördergesetz (Location Promotion Act) in December 2025. The European Commission also sees equity investments as the key to prosperity and sovereignty. In September 2025, it called on all EU member states to introduce tax-advantaged investment savings accounts to facilitate equity savings.

"The social tailwind for equities is stronger than ever. The planned early retirement pension, in conjunction with a retirement savings account, can be a long-term success. A tax-advantaged investment savings account, as suggested by the European Commission, would also be helpful. We advocate making greater use of shares in all three pillars of pension provision in Germany as well. Internationally successful solutions can be found for all these challenges. The door is wide open for legislators,‘ emphasises Peucker.

Here you can find our shareholder figures for 2025: ’Equity investment on the rise – tailwind for bold reforms"

Methodology

The shareholder figures from Deutsches Aktieninstitut are based on a representative survey by KANTAR. Every year, approximately 28,000 people in Germany aged 14 and above are surveyed about their investment behaviour. In 2025, the survey was conducted in ten waves, both in face-to-face interviews and online.