TIGER 21 Member portfolios see private equity widen lead over real estate to a record margin, while cash and equivalents fall to their lowest level recorded by the peer learning network
NEW YORK, July 29, 2026–(BUSINESS WIRE)–TIGER 21, the premier peer-to-peer learning network for ultra-high-net-worth wealth creators and preservers, today released highlights from its Q2 2026 Asset Allocation Report (AAR). The insights, gathered from portfolio allocation data submitted by Members, point to the consolidation of long-term trends in how wealth creators are positioning their portfolios, with private equity establishing itself as the dominant asset class at a record 34% of allocations, up six points year-over-year.
The Q2 2026 reading marks the latest point in a multi-year trend. Over the past 15 years, the share of capital allocated to private equity has risen sharply. The steady expansion of private market opportunities and a deeper pool of high-quality private companies are two forces likely to have attracted fresh capital and driven this increase. Fewer exits and ongoing capital calls are also likely to have pushed allocations higher.
Public equities increased to 25%, up two points from 12 months ago, marking the highest stock allocation in more than two years. This likely reflects greater confidence in equity markets and a broader appetite for risk assets, consistent with multi-year highs in institutional equity positioning.
Cash and equivalents fell to 7%, the lowest level since TIGER 21 began collecting data in 2007, as Members shifted more liquidity into growth sectors. Real estate also declined to 23%, down three points from 12 months ago. Additional assets were deployed into fixed income (6%), cryptocurrency (2%), commodities (2%) and hedge funds (1%).
Commenting on the findings, Michael W. Sonnenfeldt, Founder and Chairman of TIGER 21, said: “These latest insights underline a defining trait of the TIGER 21 community. When uncertainty rises, these investors don’t freeze. They deploy capital into the opportunities they believe will create advantage and long-term growth. That’s why we’re seeing more capital move into private equity and similar assets.”
Michael Woods, TIGER 21 Group Chair, added: “In our Group Meetings, the conversation has steadily moved toward private markets. Members are leaning into areas where their experience, networks, and operational expertise can be put to work, and that helps explain the long arc of capital moving from cash and real estate into private equity.”
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