Private Foundation Assets Up 48 Percent Since Recession, Report Finds

3. As expected, equities played a leading role in asset growth: As the stock market rallied after 2008, foundations increased their equity holdings, while reducing their percentage of holdings in cash. In 2008, these foundations allocated 42.4 percent of their assets to equities; by 2013, that percentage had increased to 55.5 percent. Over the same period, cash holdings shrank from 20.5 percent to 12.8 percent.