INDEPENDENT PERSPECTIVES. ONE READING ROOM.From The Perimeter journal
Perimeter Desk
My Desk
Menu
← Research tools

THE RESEARCH LAB

Look beneath the holding count.

Inspect the weights of an illustrative portfolio and see how a single-position shock affects the whole.

ILLUSTRATIVE HOLDINGS

Use up to five holdings or exposure groups. Weights must total 100%.

Total weight: 100.0%

Largest position40.0%
Largest three85.0%
Effective holding count3.64

Where the weight sits

Holding A40.0%
Holding B25.0%
Holding C20.0%
Holding D10.0%
Holding E5.0%

ONE SIMPLIFIED STRESS SCENARIO

If the largest position fell 30% and everything else stayed flat, this mix would decline 12.0%.

Effective holding count = 1 ÷ the sum of squared fractional weights. It describes weight concentration only. It does not account for correlations, leverage, fund overlap, or individual asset risk. A higher count does not establish a suitable allocation. The stress scenario is not a forecast.

A BETTER READING ROUTINE

A good read is worth passing on.

Join the launch list for our curated financial digest. Choose the topics you want to follow.

Join the launch list Email delivery is coming. Your interests can be saved now.