Tesla and SpaceX Top UK Stocks & Shares ISA Buys as Centrica Slumps

For the first time in over 18 months, Tesla has become the most-bought stock inside UK Stocks & Shares ISAs, according to trading data from investment platform ii.co.uk for the week ending 24 July 2026. Close behind: newly listed Space Exploration Technologies Corp (SpaceX), which entered the platform's "hottest ISA shares" list almost immediately after its listing.

What's driving the interest

Tesla's return to the top of ISA buy-lists comes as investor sentiment toward high-growth US tech and mobility stocks has warmed through July. SpaceX's rapid rise reflects the same appetite for exposure to space and satellite infrastructure that has attracted retail investors globally.

Alphabet also featured prominently, entering at sixth place after second-quarter sales beat estimates — though some investors remain nervous about guidance for capital spending this year reportedly reaching as much as $205 billion.

On the UK side, the picture is more mixed. Centrica shares debuted on the hottest-shares list for the wrong reason — sinking to their worst levels of 2026 after the energy giant guided for broadly flat earnings in 2027. Ceres Power Holdings also continued its slide, down 20% in a week to a three-month low, despite no fresh company news.

Why this matters for ISA savers

A Stocks & Shares ISA shelters any gains from Capital Gains Tax and dividend income from Dividend Tax, up to the current £20,000 annual ISA allowance. What people buy inside that wrapper is entirely their own choice, and platform "most bought" lists like ii's reflect retail trading trends, not investment recommendations — a stock topping the list says nothing about whether it's a sound long-term holding.

It's also worth remembering that concentrated bets on individual high-growth stocks — as opposed to diversified funds — carry materially higher risk. A single earnings miss or regulatory setback can move a stock like Tesla or a newly listed name like SpaceX sharply in either direction.

Some context on new ISA account offers

Separately, several providers are currently offering £100 in free trades to new customers who open an ISA or general investment account and fund it by 31 July 2026 — a reminder to compare platform fees and any sign-up terms carefully rather than choosing based on the incentive alone.

International comparison

In the US, the equivalent tax-advantaged vehicle is the Roth IRA, which shelters both growth and withdrawals from tax but comes with annual contribution limits far lower than the UK ISA allowance (around $7,000 for 2026) and early-withdrawal restrictions the UK ISA doesn't impose. Australia's equivalent long-term savings vehicle, superannuation, is retirement-locked and taxed differently again — UK ISAs remain unusually flexible by international standards, allowing withdrawals at any time without penalty.

Key Numbers

• £20,000 — annual ISA allowance for 2026/27
• ~$205 billion — Alphabet's reported prospective 2026 capital spending guidance, per ii.co.uk
• 20% — one-week share price fall for Ceres Power Holdings

Sources

• 10 hottest ISA shares, funds and trusts: week ended 24 July 2026 — ii.co.uk
• Individual Savings Accounts (ISAs) — GOV.UK

Educational content only — not financial advice.