Which money counts when calculating portfolio weights

Awaiting reviewDecided Sep 30, 2026Review Oct 30, 2026

Decision

For allocation decisions, I calculate weights using only the part of my portfolio available for rebalancing. Money I can't trade right now, such as principal-guaranteed pension products locked until maturity, is excluded; after maturity, I count only the portion moved into ETFs.

Why

If locked money is mixed in, a weight-cap alert can't turn into action, because I can't actually buy or sell that part.

Expected outcome

Within a month, every report states weights on a single basis.

Options not taken

Include the locked money too.
Show both — decide on the investable basis, report the full picture on the all-in basis.