Some affluent households are trimming certain assets in early 2026 to improve liquidity, reduce concentration risk and simplify portfolios, wealth advisers say.
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J.P. Morgan Private Bank’s 2026 Outlook notes that many wealthy investors are holding more cash and prioritizing resilience as inflation and global fragmentation reshape portfolio strategy.
Here are the types of holdings advisers say upper-class households are most likely to reconsider.
Overconcentrated Stock Positions
After years of strong market gains, some affluent investors are finding that a single company now makes up an outsized share of their wealth.
Srbuhi Avetisyan, research and analytics lead at Owner.One, who works with high-net-worth families worldwide on asset organization and wealth transfers, said founders and executives are starting to “reduce single-stock concentration, particularly positions that grew ‘organically’ during strong equity years.”
She added that volatility prompts wealthy investors to reassess risk through a generational lens rather than a quarterly one.
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Non-Core Real Estate
Higher borrowing costs and weaker returns in certain markets are prompting sales of secondary properties. Alina Trigub, managing partner at SAMO Financial, said some affluent families are “dumping non-core real estate assets” as debt resets and refinancing become less attractive.
Rather than lock in higher rates, she said many are restructuring portfolios to focus on properties that generate reliable income.
Illiquid Private Investments and Complex Holdings
Liquidity and simplicity are gaining value in a higher-rate environment. Avetisyan said affluent households are “strategically simplifying” by trimming illiquid holdings such as private equity funds, minority stakes in private companies and complex cross-border assets like foreign real estate held through offshore entities.
“It’s not necessarily about fear. It’s about optionality,” she said.
Reducing opaque or hard-to-transfer assets can make wealth easier to manage and pass on to the next generation.
Capital-Intensive Lifestyle Assets
Some high-net-worth families are also rethinking expensive lifestyle assets that carry high fixed costs. Andrew Bahlmann, co-founder of Deal Leaders International, said affluent investors are reducing exposure to “capital-intensive lifestyle assets” such as luxury properties and private aircraft.
“This isn’t due to fear, it’s discipline,” he said.
Shifting away from prestige assets toward income-generating investments can improve cash flow and flexibility.
A Strategic Reset, Not a Retreat
Advisers say these moves reflect portfolio discipline rather than panic. In a higher-rate, more uncertain environment, affluent investors are prioritizing liquidity, resilience and cash flow to keep what is transparent and productive while selling assets that create drag.
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This article originally appeared on GOBankingRates.com: 4 Things You Need To Sell in the First Half of 2026 If You Are Upper Class
