Apex Clearing, a custody and clearing firm, showcased the top 100 stocks owned by millennial investors in its third-quarter Apex Millennial 100 report.
This development comes as the Pew Research Center projects millennials will become the largest living adult generation. The Apex report analyzed more than 706,000 accounts and found that holdings were more oriented toward brick-and-mortar retailers and tracked away from commodities like oil and gas.
The following are the top five equity holdings for millennials, according to Apex:
- Apple Inc. (NASDAQ: AAPL), which made up 11.4% of holdings.
- Amazon.com, Inc. (NASDAQ: AMZN), which made up 11.4% of holdings.
- Tesla Inc (NASDAQ: TSLA), which made up 5.9% of holdings.
- Facebook Inc (NASDAQ: FB), which made up 4.5% of holdings.
- Berkshire Hathaway (NYSE: BRK-B), which made up 3.6% of holdings.
“Millennials continue to forge their own path when it comes to investing,” Hannah Shaw Grove, chief revenue officer at Apex Clearing, said in a statement.
“Over the third quarter of 2019 they embraced some surprisingly traditional trends, like retail stores and home mortgages, while deviating sharply from the S&P 500 in other traditional areas like utilities and health care.”
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