40% Stocks, 0% Bitcoin — 2026 Portfolio Breakdown

Build me a portfolio from the top down for the rest of this year. Let's start with US stocks. How much is in there? >> 40% 40%. That's where the growth is still. What about international? >> I would add 10% to international and you know, Asia really is benefiting from the AI cycle and there's some green shoots that I see in Europe as well. >> How much in bonds? >> I would stick with 30%. Look, you know, bonds still have a role to play in the portfolio and I would actually say now with yields moving higher, there's some value that might be emerging in longer-term bonds. >> What about gold? >> So, gold to me is part of the alternatives bucket. The alternatives bucket might include private markets like private equity and infrastructure, but should also include gold. Let's do 5% 5 5% for gold. >> Bitcoin? >> I'm sorry, zero. >> Cash? >> Look, 5% in cash and obviously that differs on the liquidity needs. >> So, where does that final 10% go? >> I would stick with private markets and since we've already allocated private credit to fixed income, let's do private fight let's say 5% in private equity and 5% in infrastructure. >> Which of those categories gets the biggest returns between now and year end? >> I'd stick with stocks.