We've added two tools to Model Portfolios.

  • Apply drifted weights carries the portfolio’s current weights into a new allocation period, so you can change only the positions involved in a trade.
  • Redistribute Weight handles a holding that wasn’t trading on the selected date because it had not started trading yet or had already stopped trading. Choose where to move its weight, and the rest of the portfolio carries forward automatically into a new allocation period.

Apply drifted weights to an allocation period

  • In the Edit Portfolio window, hover over the column header of the allocation period you want to fill, and click the three-dot button that appears next to the date.
  • In the Allocation Options menu, select Apply drifted weights.

The period updates with the drifted weights, and you can then change just the positions you're buying or selling. Other allocation periods are not affected.

Apply drifted weights is available on every allocation period after the first, once all conflicts in the model are resolved. The weights account for the model's rebalance period and include any edits you haven't saved yet. If you apply it to several periods in order, each one builds on the period before it. Changes are saved only when you save the portfolio.

Find holdings that can't be held on a period's date

A conflict appears when a holding has a weight above 0% in an allocation period it can't be held in. The affected weight is outlined in red, and a message below the holding gives the relevant trade date and the options to resolve it.

Resolve every conflict to save the portfolio.

The message depends on the conflict:

  • Began trading on [date]: the security started trading after the allocation period
  • , which can happen when the model uses a Custom start date. Resolve it with Redistribute Weight.
  • Stopped trading on [date]: the security stopped trading after the model's start date. Resolve it with Redistribute Weight.
  • Stopped trading on [date], before this portfolio starts: the security was already inactive before the model began.
  • Click Delete Holding to remove it.

Securities that have stopped trading are now flagged as well, so an existing model with an inactive holding shows a conflict the next time you edit it.

If a holding both started and stopped trading within the model's history, the second conflict appears once you resolve the first.

You can also clear a flag by setting the holding's weight to 0%, changing the period's date to one when the security was trading, or switching the model's start date to First Common in Settings. First Common only clears flags for securities that hadn't started trading yet.

Redistribute a flagged holding's weight

Click Redistribute Weight in the message beneath the row and choose where to move its weight:

  • To cash: adds the weight to the model's cash line.
  • To holdings: spreads the weight across the period's other long holdings in proportion to their current weights. Cash receives a share when its weight is above 0%.
  • To ticker: opens the ticker search so you can pick a replacement security. It’s added as a new holding that takes over the weight from the security's trade date forward.

Redistributing creates an allocation period on the security's first or last trading date and scrolls the table to it, so you can review what changed:

  • If the security began trading later: the period you edited is rebalanced without the security. The new period, dated the security's first trade date, carries the weights you entered, with the security at its intended weight. The model runs your intended allocation from the first day the security can be held.
  • If the security stopped trading: the period you edited stays as it is, since the security was held during it. The new period, dated the security's last trade date, carries the redistributed weight, with the security at 0%.

If an allocation period already exists on that date, the change is applied to that period. Periods between the one you edited and the new one are unchanged.