Family offices now rank inflation as their primary worry, yet equities continue to be their preferred vehicle for fresh investment. Approximately 46% of these firms increased their public equity holdings during the previous year, as reported by Citi Wealth’s 2026 Global Family Office Report.
The polling encompassed 351 family offices spread across 41 nations. Looking ahead to the coming year, 37% plan to increase exposure to developed-market equities, compared to just 3% intending to do the same for digital assets.
Inflation Climbs the Worry List While Stocks Collect the Cash
According to Citi’s findings, 63% of surveyed participants identified inflation as their principal anxiety, rising sharply from 37% in 2025. Meanwhile, concerns surrounding tariffs—which topped the previous year’s list—dropped from 60% down to 18%.
These anxieties have failed to trigger a sell-off in stocks. Data indicates that a mere 12% of family offices decreased their public equity holdings over the past 12 months.
Furthermore, the net growth in public equity allocations exceeded the figures from the 2025 survey by 23 percentage points. Looking forward over the next 12 months, only 5% of family offices intend to scale back their investments in global developed equities.
Alexandre Monnier, who leads family office advisory at Citi Wealth, explained to CNBC that portfolio allocations have not altered as dramatically as inflation concerns.
“I think family offices are becoming more sophisticated and see risk management as something more active that allows you to stay invested during periods of uncertainty, instead of having to retrench the way they might have done it historically,” he said.
A comparable preference for equities is visible across American household balance sheets. Stocks currently account for 39.9% of overall household net worth, marking the highest proportion ever recorded by the Federal Reserve.
During the same period, home equity declined to 19.3%, creating a 20.6-point margin separating the two asset classes.
Crypto Clears the Barrier Test but Misses the Shopping List
Cryptocurrencies and digital assets have not experienced the same enthusiasm as stocks. Alongside the 3% anticipating growth in this area, 14% of family offices intend to reduce their digital asset positions throughout the upcoming year.
These anticipated reductions arrive despite 46% of participants informing Citi that they perceive no major obstacles preventing them from increasing allocations. The hurdle mentioned most frequently was an absence of internal expertise or governance structures, cited by 27% of respondents.
North American firms highlighted this deficiency most frequently, coming in at 34%. Citi noted that these minimal barriers have not translated into any substantial rise in allocations so far.
Subsequent annual reports from Citi will determine whether those anticipated reductions actually occurred.
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