SpaceX and US Equity Market Topology

June 15th, 2026 | Open

Concentration of holdings around a short list of stocks has become a common critique of the level of risk in the US equity market. Beginning with the unprecedented IPO of SpaceX (SPCX), a wave of gargantuan AI-related IPOs is likely to exacerbate concentration in US equities further. But, how much further? In this Feed post, Alphacution presents a view of this concentration from the perspective of the "holders" - institutional asset managers - to answer the question: What concentration of holders are holding the same holdings?

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About Paul Rowady

Paul Rowady is the Director of Research for Alphacution, a research and strategic advisory platform uniquely focused on modeling and benchmarking the impacts of technology on global financial markets and the businesses of trading and asset management. He is a 35-year veteran of the proprietary, quantitative and derivatives trading arenas.

Contact: [email protected]

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