Multiply the two weights
Look-through exposure combines a portfolio’s allocation to a fund with that fund’s disclosed allocation to an issuer. If an illustrative portfolio allocates 60% to Fund A and Fund A reports a 20% issuer position, the contribution is 12% of the portfolio. A separate 40% allocation to Fund B, which reports 10% in the same issuer, contributes another 4%. The combined disclosed exposure is 16%, before differences in dates, fees and security rights.
Do not scale incomplete holdings to 100%
If a dataset maps only 80% of Fund A’s holdings, assigning 100% of the portfolio to Fund A does not make the known positions a complete portfolio. Our calculator retains the missing 20% as unmapped exposure. It does not label that remainder cash. The remainder can include cash, other assets, omitted positions or a denominator mismatch; the dataset is insufficient to tell. A fund without holdings coverage contributes its entire allocation to the unmapped bucket.
Overlap is about issuers, not fund names
Two differently named funds can report the same company. Several funds therefore do not automatically imply several independent economic bets. Our overlap table groups the dataset’s company identifiers and shows which funds contribute to each exposure. It does not merge xAI into SpaceX or treat a corporate-action label as proof of interchangeable securities. Where an identifier is ambiguous, the recorded label and source limitations remain visible.
Dates and units are part of the answer
Disclosed weights describe their reporting baseline, not a real-time portfolio. Combining a January filing with a May filing gives a mixed-date research view. The optional dollar amount in the calculator scales the hypothetical allocation; it does not calculate the number of underlying company shares you legally own. All calculations stay in the browser. Allocations must total 100%, and inconsistent source weights are excluded rather than silently repaired.
Sources and further reading
Educational research, not personalized investment advice. Examples are hypothetical; fund-specific observations carry their own source dates.