• changing the cannabis conversation.

• putting a spotlight on China.

• riding the IPO wave.

• continuing to strongly favor US heavyweights Amazon and Apple.



• The Apex Millennial 100 represents the top 100 individual equity holdings in terms of dollar amount held on our books as of June 30, 2019 for investors born between 1982 and 2004
• Based on an analysis of >658,000 accounts and 8,665 total stock holdings
• Average account size: ~$2,600
• Average age of millennial account holder: 30 years, 10 months, 19 days

KEY FINDINGS: Millennials are…

changing the cannabis conversation.

• 5 companies involved in cannabis are counted among the Apex Millennial 100.
• This ownership may signal the growing role of marijuana in medical and lifestyle settings, as well as escalating confidence in legalization at the US federal level.

putting a spotlight on China.

• 13 Chinese companies are among the top 100 stocks, and 4 of those are in the top 25.
• Millennials hold shares of several bigger, well-known Chinese companies (like Baidu and but also veer o the beaten path to purchase shares of less prominent companies (like Pinduoduo and Bilibili).

riding the IPO wave.

• Several new issues snagged places in the Apex Millennial 100 shortly after starting to trade publicly, including Slack Technologies and Uber.
• Millennials were relatively selective with their purchases of recent IPOs: Not all of the high-profile IPOs from the first half of 2019 made it into the Apex Millennial 100.

continuing to strongly favor US heavyweights Amazon and Apple.

• Amazon and Apple won the top two spots in the Apex Millennial 100 with respective weights of 11.6% and 10.9%, a signi cant margin over the 5.8% weight of third-largest holding Tesla.
• Millennials’ love for Amazon and Apple has spanned several months and the love for these two US heavyweights also crosses generational divisions: The holdings rank #1 or #2 for the Silent Generation, Baby Boomers, Gen X and Gen Z.


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