Family offices managing over $5.5 trillion globally have increased their public stock allocations to 34% of portfolios, up from 32% a year ago, according to the inaugural CNBC Family Office Portfolio Tracker launched in partnership with Addepar.

Market Context

The tracker provides a rare window into how ultra-high-net-worth families deploy capital, an asset class that has largely operated in secrecy due to lack of disclosure requirements. The $1.4 trillion in assets represented by the tracker spans family offices ranging from $200 million to over $10 billion in size. Family office wealth is projected to exceed $9 trillion by 2030, according to Deloitte estimates, making this cohort an increasingly influential force in financial markets.

Analysis

The data reveals a notable shift toward public equities among sophisticated long-term investors who traditionally favor illiquid alternative assets. Eric Poirier, CEO of Addepar, noted that family offices are evolving to operate more institutionally and globally, with increased focus on diversification and liquidity planning. "Many firms across the wealth and investment ecosystem look to family offices as an important indicator of how sophisticated investors are approaching their strategic and tactical asset allocation," Poirier said in a statement.

The strong U.S. home bias among these portfolios is striking: 80% of equity holdings remain concentrated in domestic stocks, suggesting that even the wealthiest families maintain significant home-country tilts despite access to global markets. The "other alts" category—encompassing mixed allocation funds, commodities and collectibles—was the only other segment showing annual growth alongside equities.

Private equity allocations dipped slightly to 6% while venture capital held steady at roughly 2%. Family office real estate holdings fell by nearly 2 percentage points to 7.5%, reflecting a broader rotation away from direct property investments among this cohort.

Key Numbers

- $5.5 trillion in total family office wealth globally, rivaling hedge fund industry assets

- 34% of family office portfolios allocated to public stocks (up from 32% year-over-year)

- 80% of equity holdings invested in U.S. domestic equities

- 48% of portfolios in alternative investments overall; 52% in public markets

- $1.4 trillion in assets tracked by the CNBC-Addepar Portfolio Tracker

- Cash and cash equivalents held steady at nearly 10% of portfolios

What to Watch

The quarterly tracker will provide comparisons with previous periods spanning one quarter, one year and five years, offering both short-term tactical insights and long-term strategic trend analysis. Addepar plans to expand the dataset as more family offices join its platform, which currently covers $9 trillion in assets across 1,400 firms in 60 countries. The next release will be closely watched for shifts in private credit allocations, which dipped marginally below 1%, and any changes to the substantial 16% held in direct private company investments.