02.17.26

Family Offices Pocket Big Stock Gains From Riding Metals Boom

by: Ben Stupples; Devon Pendleton

Family offices for some of the world’s wealthiest investors have been trimming exposure to gold, silver and copper stocks after riding a sharp rally that pushed metals prices to record highs, according to recent 13F filings. Bloomberg data show several large family offices reduced or exited positions in metals-related equities and exchange-traded funds after gains driven by supply constraints, geopolitical uncertainty and demand tied to the energy transition and artificial intelligence. The filings offer insight into how sophisticated investors are repositioning portfolios following strong performance, with metals prices remaining elevated despite pulling back from January highs.

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