Inside the HNW Portfolio

Welcome to the first edition of Beyond Wealth by Long Angle.

Every Thursday, we share the questions and decisions that come with significant wealth, inspired by real conversations from those who have already been there. Our goal is to help you navigate wealth and living well with clarity and confidence.

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High-net-worth portfolios don’t look anything like the classic 60/40 model. Instead, wealthy investors lean heavily into private markets and keep only a small slice in bonds. 

Most Long Angle members anchor their portfolios in public equities (47% of net worth on average), but what really differentiates them is everything beyond that.

Real estate plays a major role (17%), which includes home ownership, rental properties, and RE funds.

Private company equity is also a substantial component (15%), often tied to employees’ or founders’ ownership stakes and also includes private equity funds.

What’s nearly missing? Bonds. Even among conservative respondents, fixed income remains a small part of the mix.

If you’re comparing your own allocation: peers tend to build around public equities, then diversify through private assets.

Read Long Angle’s annual High-Net-Worth Asset Allocation Report for a much deeper dive. Stay tuned for our 2026 report scheduled to publish in early Q1.

If you’re wondering whether wellness services like personal training, a sports coach, or therapy are worth the time and money, Long Angle members who use them overwhelmingly say yes. 

Wellness services rank among the highest in satisfaction across professional service categories, and well above many financial and home services.

Personal trainers receive the top satisfaction scores of any service we track, driven by one key characteristic: personalized plans that adapts to each client’s goals.

Therapy shows a similar pattern. Satisfaction is high, with members highlighting two strengths of their providers: 

For anyone on the fence, wellness services deliver meaningful value for HNW peers through personalization and measurable impact.

Check out Long Angle’s High-Net-Worth Professional Services Report for more insights.

Evergreen funds are private market vehicles without a fixed lifespan. You can subscribe and redeem periodically, rather than being locked in for 8–10 years like traditional private funds. 

That structure gives you two big advantages: 

But there’s a tradeoff. Because these funds hold cash to support redemptions, they experience some cash drag. That means returns may be lower than other investments, especially in strong markets. 

Still, full upfront deployment with evergreens allows compounding to begin on day one.

Evergreen funds require lower annualized returns on deployed capital to achieve the same multiple on invested capital (MOIC) as closed-end funds. 

The longer time-in-market allows capital invested in an evergreen fund to compound significantly more. Of course, some investors will have other highly productive uses of uncalled or returned capital from a closed-end fund that enhance total portfolio returns.

Early evidence from PitchBook and Hamilton Lane does suggest that evergreen strategies can outperform public equities and closed-end private funds.

Learn more by reading Long Angle’s Evergreen Fund Investment Guide 2025.

Long Angle members can reach out to the Long Angle Investments team with any questions on evergreen funds and opportunities to invest.

In a recent episode of the Navigating Wealth Podcast, our hosts spoke with David Gardner, co-founder of The Motley Fool and author of Rule Breaker Investing.

David challenges conventional valuation wisdom and shares the four factors that drive long-term returns but never appear in financial statements:

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Chris Bendtsen

Insights Lead, Long Angle

Connect with me: LinkedIn | Learn more: Long Angle | Apply for free membership

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