Family offices are increasing their exposure to public equities while reducing their real estate holdings, according to the newly launched CNBC Family Office Portfolio Tracker, created in partnership with CNBC and Addepar. The tracker offers a rare look into how some of the world’s wealthiest families are allocating capital.
Family offices — private investment entities established by ultra-wealthy families — now oversee more than $5.5 trillion globally, placing them on par with hedge funds in terms of assets under management. Despite their growing influence, their portfolios have historically remained largely opaque due to limited disclosure requirements.
To provide greater transparency into the sector, CNBC partnered with Addepar, a data and AI platform widely used across the wealth management industry. The tracker draws on anonymized data from hundreds of family offices managing between $200 million and more than $10 billion each, covering a combined $1.4 trillion in assets.
Published quarterly, the tracker highlights shifts in allocations across equities, bonds, private equity, real estate and alternative investments, while comparing trends over one-, five- and multi-quarter periods.
The first-quarter data showed listed equities continuing to dominate family office portfolios. Public stocks accounted for 34% of holdings, up from 32% a year earlier, making them both the largest and fastest-expanding asset class. U.S.-based family offices also displayed a strong preference for domestic markets, with roughly 80% of equity investments concentrated in U.S. shares.
Alternative investments remained a major component overall, representing nearly half of total portfolio allocations. However, some categories softened over the past year. Real estate exposure declined by almost two percentage points to 7.5%, while private equity edged down to 6%. Hedge funds, venture capital and private credit also recorded modest decreases.
At the same time, investments in privately held companies remained steady at around 16%, reflecting the long-term ownership approach many family offices take toward businesses. Cash and cash equivalents stayed close to 10%, indicating that many investors are maintaining liquidity to take advantage of potential market disruptions or future buying opportunities.
According to Eric Poirier, the data provides insight into how sophisticated investors are balancing diversification, liquidity and long-term performance in an evolving market environment. He noted that family offices are increasingly operating with institutional-style investment frameworks and broader global diversification strategies.
The family office sector is expected to continue expanding rapidly. Research from Deloitte projects total family office wealth could exceed $9 trillion by 2030, strengthening the group’s influence across global financial markets.
Addepar said the tracker will become more comprehensive as more firms join its platform. The company currently works with more than 1,400 organizations worldwide, including family offices, wealth managers, private banks and institutional investors, overseeing a combined $9 trillion in assets.
The platform has also recently introduced “Addison,” an AI-powered tool designed to help investment professionals identify insights more efficiently and reduce administrative workloads, allowing advisors and family office teams to focus more on strategic planning and client relationships.
