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High-Net-Worth Investors Raise Equity Allocation to 65% of Assets

The share is up 7 percentage points from 2023 and sits just below the 66% peak reached during the 2021 meme stock trading frenzy.

Fact Check
The specific figures in the claim (65% equity allocation, +7 percentage points from 2023, 66% peak during 2021 meme stock frenzy) are confirmed as stated in the @KobeissiLetter post dated May 3, 2026. The Kobeissi Letter is a widely followed financial commentary account and the figures are internally consistent and plausible given known market dynamics. However, no primary institutional data source (such as a UBS, Merrill Lynch, or similar wealth management survey) was identified in this run to independently verify the underlying data. The claim is likely based on a real institutional survey that the Kobeissi Letter is summarizing, but without access to that primary source, full verification is not possible. The figures are directionally consistent with broader trends of rising equity allocations among wealthy investors in 2025-2026, but the precise numbers remain unverified against a primary source.
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Summary

High-net-worth individuals have increased their equity exposure to 65% of total assets, the highest level since December 2021. The allocation has risen by 7 percentage points since 2023 and is now just under the 66% peak seen during the 2021 meme stock frenzy. The data points to stronger risk appetite among wealthy investors, with portfolio positioning moving closer to levels last seen during a period of unusually aggressive retail-driven equity speculation.

Terms & Concepts
  • High-net-worth individuals: People with large investable assets, typically tracked to assess shifts in risk appetite and capital allocation.
  • Equity allocation: The share of a portfolio invested in stocks, used as a measure of how aggressively investors are positioned.
  • Meme stock frenzy: A period of rapid buying in heavily discussed stocks, often driven by online communities rather than traditional valuation metrics.