Family offices increase stock holdings in second quarter

Single family offices significantly increased their stock holdings during the second quarter, according to the CNBC Family Office Portfolio Tracker. Data powered by Addepar shows that these private investment arms held 37% of their portfolios in stocks, an increase from 34% in the first quarter.

This shift represents the largest quarter-on-quarter increase in public equity allocation observed in the last three to four years. The move suggests a continued bullish sentiment regarding equities and the artificial intelligence trade, despite market concerns regarding concentration and potential bubbles.

The rise in stock allocations was accompanied by a reduction in other sectors. Holdings in private markets—including real estate, private equity, venture capital, and private credit—dropped by 3 percentage points. Cash reserves saw a minor drawdown of less than 1% during the same period.