Daily active corporate buyback programs have surged from roughly 10 two years ago to between 50 and 60 this year, signaling a record repurchase year in both notional value and number of participating companies. The breadth now includes mid-caps and industrials, not just mega-cap tech names, with the Invesco BuyBack Achievers ETF up 17% over the past year, closing the gap with the S&P 500. Total corporate profits hit $4.4 trillion in the first quarter of 2026, up 12.8% year over year, and manufacturing profits jumped 31% to $773.3 billion, giving non-tech CFOs fresh buyback firepower. Two June capital raises totaling $140 billion—the largest back-to-back equity supply events in US history—were absorbed without disruption, partly due to broad buyback programs acting as a structural bid. The S&P 500 is down 2% over the past month, but the expanding buyback wave suggests confidence beyond the index-level headlines.