Definition
All your investments viewed as one whole. Allocation and fees at the portfolio level matter far more than any single holding.
Why it matters
Judging investments one at a time hides the picture that matters: overall risk, overlap, and cost. A portfolio view is how you notice that three funds secretly hold the same stocks.
Example
An investor holds a 401(k), an IRA, and a brokerage account. Viewed together, the portfolio is 85% U.S. stocks with three overlapping S&P 500 funds, so they add international and bond exposure in the accounts with the best menus.
Related terms
This definition is educational, not financial, legal, or tax advice. U.S. rules and limits change; verify time-sensitive details with official sources. See our disclaimer.