BofA Securities Equity Client Flow Trends Small>Large, Value>Growth, equity income inflows 1st large cap outflows in two months Equity income inflows Accessible version ETFs: Value>Growth Exhibit 3: Biggest flows out of large caps in over 2 years (July '23) Net buying (selling) of large cap (single stocks + ETFs) by BofA Securities clients, 1/2008-present -6000 -4000 -2000 0 2000 4000 6000 8000 08 09 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 Large Cap Source: BofA Securities. Note: see Exhibit 6 and E ...