Key points

Tech shares in vogue again as Nasdaq and S&P 500 hit fresh all-time highs

Nvidia, Tesla and Palantir our most traded stocks

Investors lean into defence sector via stocks and ETFs

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Tech bounced back and led the S&P 500 to a fresh all-time high in June as investors chose to look through the myriad near-term risks and buy equities. European names and the defence sector remained popular as UK clients looked to increased military spending by Nato members, while names related to AI and quantum computing continued to attract interest.

It was ‘Buy America’ again as US equities rose 4-6% in June against flat performance in Europe and the UK.

Whilst clients trimmed exposure to Nvidia (42% buys) as it rose to a record high, they were more enthusiastic about Tesla (55%) and Palantir (53%), which overall were our most traded names on the platform. Other tech names such as AMD, Amazon and Alphabet also saw strong client activity and net buys.

Elsewhere in the US tech space we saw continued interest in the likes of Uber, Archer Aviation, Coinbase and BigBear.ai, while Circle Internet Group was probably the month’s hottest stock after it soared following its June 5th IPO. Meme stock and retail investor favourite GameStop remained popular with 66% buys.

In the defence space, clients were very bullish, with 86% buys of the VanEck Defence UCITS ETFs as we saw continued rotation into this sector, buoyed by structural and secular tailwinds in Europe among Nato members who committed to boosting military spending to 5% of GDP. Among the single stock names Rheinmetall, BAE Systems and Rolls-Royce attracted interest from clients as well.

In the broader ETF space we saw clients consistently buying both UK and US equities as part of their long-term investing goals via the Vanguard FTSE 100 UCITS ETF and Vanguard S&P 500 Dist UCITS ETF. 

Finally, quantum computing names IonQ and Rigetti Computing were again popular among our clients as they sought fresh ways to diversify their portfolios.

 

Top Stocks	% Buy
VanEck Defense UCITS ETF	84%
BAE Systems	71%
Novo Nordisk B A/S	67%
Rheinmetall AG	67%
Vanguard S&P 500 Dist UCITS ETF	67%
Archer Aviation Inc.	66%
Uber Technologies Inc.	66%
GameStop Corp.	66%
BigBear.ai Holdings Inc.	65%
Vanguard FTSE 100 UCITS ETF	64%
Ostin Technology Group Company Ltd.	64%
Alphabet Inc. - A Share	62%
Rolls-Royce Holdings Plc	61%
Hims & Hers Health Inc.	59%
Circle Internet Group Inc	59%
CoreWeave Inc.	57%
IonQ Inc.	57%
Broadcom Inc.	56%
Rigetti Computing, Inc.	56%
Tesla Inc.	55%
Amazon.com Inc.	55%
Advanced Micro Devices Inc.	54%
Coinbase Global Inc	54%
Robinhood Markets Inc.	53%
Palantir Technologies Inc	53%
Microsoft Corp.	53%
D-Wave Quantum Inc.	52%
BP Plc	52%