7.28 million investors in the Saudi stock market | Capital Market Authority report
Introduction to the report and the growth in the number of investors
The latest report issued by the Capital Market Authority revealed remarkable positive developments in the structure of the Saudi financial market, as the number of individual investors in companies listed on the Saudi Stock Exchange (Tadawul) recorded significant growth, reaching approximately 7.28 million investors by the end of the first quarter of 2026. This figure represents an increase of 520,000 investors on an annual basis, reflecting the growing investment awareness and increasing confidence in the Saudi economy.
According to the detailed report, men accounted for the majority of investors, with 5.45 million, while the number of female investors reached approximately 1.84 million. Notably, the total number of individual investment portfolios jumped to 14.86 million by the end of the same period. This figure, more than double the number of actual investors, clearly indicates the diversification strategy adopted by individuals who hold multiple investment portfolios to spread risk and capitalize on diverse opportunities.
Historical context: Vision 2030 and the development of the financial sector
These record figures are a direct result of the ongoing efforts of the Kingdom of Saudi Arabia within the Financial Sector Development Program, one of the key executive programs of Saudi Vision 2030. Since the launch of the Vision, the Capital Market Authority and Tadawul have worked to modernize the market infrastructure, streamline the process of opening investment portfolios digitally, and enhance transparency and governance. Historically, the market has relied heavily on institutional and government investment, but recent regulatory facilitations and large-scale initial public offerings (IPOs) have helped attract a wider segment of citizens and residents to actively participate in the economic growth process.
Investor classification: Major investors and specialists
To ensure data accuracy and the proper direction of economic policies, the Capital Market Authority establishes specific definitions for investor categories. “Major individual investors” are defined as Saudi individuals who hold investment portfolios with an average size of one million riyals or more over the past twelve months, excluding specialized investors from this category.
As for “specialized individual investors”, they are Saudi individuals whose average portfolio size is 50 million riyals or more during the same period, provided that the investment portfolio turnover rate does not exceed 4 times annually, which reflects these investors’ adoption of an institutional and long-term investment strategy.
Ownership map: Government dominance and foreign growth
In terms of market value and ownership distribution, the report showed that government entities still constitute the cornerstone of market stability, as their ownership reached about 65% of the total market value, with an estimated value of about 6,418.2 billion riyals at the end of the first quarter of 2026, registering an increase of 1% compared to the same period of 2025.
In contrast, Saudi companies' ownership amounted to approximately 1.655 billion riyals (a decrease of 6%), while investment funds recorded ownership worth 293.2 billion riyals by the end of the first quarter of 2026.
Economic importance and expected impact
One of the most positive indicators included in the report is the increase in the value of ownership by qualified foreign investors to SAR 382.9 billion, a rise of 10%, according to the regulations governing investment by qualified foreign financial institutions. Internationally, this growth reflects the positive impact of reforms, as successive inclusions in global emerging market indices (such as MSCI and FTSE Russell) have resulted in sustained foreign capital inflows.
Regionally, these figures reinforce the Saudi financial market's position as the largest market in the Middle East and North Africa in terms of market capitalization and liquidity. Domestically, the expanding base of individual investors contributes to the recycling of national savings and their channeling into productive investment avenues, supporting companies' expansion and innovation plans and achieving the sustainable development goals of the national economy.
