If the wealthiest 10% of Americans own 89% of all U.S. stocks, that means "everyone else" owns the other 11%. That may include other Americans, but what about f

If the wealthiest 10% of Americans own 89% of all U.S. stocks, that means "everyone else" owns the other 11%. That may include other Americans, but what about foreign investors (sovereigns, institutions, etc.)? Surely they own a bunch of U.S. equity? Perhaps the article uses the denominator not of "all U.S. equity" but "all U.S. equity owned by American individuals and institutions".