New data shows the SpaceX (SPCX) listing became the quarter's single largest net buy across every generation, while retail rotated out of the spring's energy and commodity trades and into memory and AI infrastructure, and net sold Tesla

Apex Fintech Solutions Inc. (“Apex”), the infrastructure powering modern investing, today released its Q2 2026 Apex Investor Pulse report, revealing that the public-market debut of SpaceX (SPCX) drew cross-generational demand to become the quarter's single largest net buy, even as retail investors rotated out of the spring's energy and commodity winners and into the AI infrastructure buildout led by memory chips.

The report, drawn from Apex's position at the center of retail investing infrastructure supporting millions of accounts across hundreds of clients, tracks the Top 25 holdings by generation (Boomer, Gen X, Millennial, and Gen Z) alongside the behavioral shifts that define each period. This quarter's edition pairs those generational rankings with a view of net trading flows across the full quarter.

Q2 2026 Key Findings

After opening under the weight of the Iran conflict, with crude spiking and the S&P 500 below its 200-day moving average, markets recovered to all-time highs by June before a sharp early-June correction. Through it all, retail did two things at once: it rotated out of the energy and commodity names that worked in the spring and into AI infrastructure, with memory chips at the center.

• SpaceX goes multigenerational: SPCX listed June 12 and generated roughly $1.25B in net buying on nearly 2.2 million trades, the largest net buy of the quarter by a wide margin and nearly double the second-place name. It entered the Top 25 as a new holding in all four cohorts at once, in a tight band (#13 Gen Z, #15 Gen X and Boomers, #16 Millennials), and already ranks among Boomers' ten most widely held names.
• Memory at the core: Micron (MU) became a top-five holding in every generation, advancing seven to eight spots, while SanDisk (SNDK) and Western Digital (WDC) climbed alongside it. Client buying in memory chips that began in May is now reflected in quarter-end positioning across every age group.
• The infrastructure trade broadened: Intel (INTC) and Marvell (MRVL) ranked among the quarter's largest net buys, with Marvell entering all four cohort lists as a new holding. Gen Z expressed the theme through frontier and space names, while Boomers routed it through established semiconductors and blue-chip large caps.
• Tesla led net selling: With the Magnificent Seven included in the net-flow rankings, Tesla (TSLA) was the single largest net sell of the quarter, even as Nvidia, Alphabet, and Amazon registered only mid-pack net buying. The spring's energy and commodity winners, including Chevron, ConocoPhillips, Newmont, and silver, were funded right back out.

"For the better part of a year, the question was whether a high-profile private name could come public and command demand across every kind of investor - not just the youngest and most speculative," said Bill Capuzzi, CEO of Apex Fintech Solutions. "The SpaceX listing answered it. In a matter of weeks, it became the largest net buy of the quarter and a new top holding for Boomers and Gen Z alike. That demand wasn't generational - it was cross-generational - and it raises the obvious next question: what happens when names like Anthropic and OpenAI reach the market? Our vantage point across millions of accounts and hundreds of clients is what allows us to see these shifts as they happen."

Generational Insights

Nvidia (NVDA) remained the largest holding by market value in all four cohorts, but the quarter's movement happened beneath it, and it moved in unison across generations:

• Gen Z reached for frontier and space exposure, including Rocket Lab (RKLB), Nebius (NBIS), and AST SpaceMobile (ASTS) alongside SPCX.
• Boomers accessed the same AI buildout through established semiconductors, a new position in Caterpillar (CAT), and blue-chip large caps including Exxon (XOM), Eli Lilly (LLY), and JPMorgan (JPM).
• Across every cohort, Micron climbed into the top five and AMD pushed higher, while SanDisk, Marvell, and SPCX entered the rankings at nearly identical ranks.

"What stands out this quarter is the discipline of the rotation," said Mike Treacy, VP of Risk at Apex Fintech Solutions. "Retail didn't just chase the AI trade; it funded it, selling the commodity and energy winners from the spring and trimming Tesla while leaning into memory and infrastructure. That reflects conviction in the theme paired with caution on the tape, and it may help reframe how the industry thinks about this segment."

The full Apex Investor Pulse report is available at https://apexfintechsolutions.com/library/investor-pulse-research-report-2026-q2/

About Apex Fintech Solutions

Apex Fintech Solutions provides the tools and services that enable hundreds of clients to launch, scale, and support digital investing for tens of millions of end investors. The company provides essential infrastructure and a comprehensive ecosystem of cloud-based products to enable and streamline trading, wealth management, cost basis, tax reporting, and, through its subsidiary Apex Clearing™, custody and clearing.

For more information, visit the Apex Fintech Solutions website: https://www.apexfintechsolutions.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20260713912263/en/