You own more NVIDIA than you think

What does the X-Ray actually show?

Your real exposure to each company, summed across every fund that holds it plus anything you hold directly. A total-market fund, a Nasdaq fund and a few shares of one company can quietly add up to a sixth of your portfolio riding on a single name.

• True top holdings, with the funds contributing each one
• Pairwise fund overlap — which of your funds are the same fund
• Look-through sector exposure across the whole portfolio
• Share classes merged by CUSIP issuer, so GOOG and GOOGL count once

Where does the fund data come from?

From the funds’ own SEC filings — the primary source that data vendors resell. Every fund registered in the US files a full list of its holdings quarterly, and Stockveil reads it directly.

• Complete constituent lists, not a top-25 sample
• Each fund shows its source and the date it describes
• Covers workplace mutual funds that ETF-only vendors skip

How current is it?

Filings are quarter-end with a lag of up to about 60 days, so the page tells you the oldest filing in play rather than implying everything is from this morning. A fund whose data is three months old says so.

Is high concentration bad?

Not automatically, and we try not to be alarmist about it — a plain S&P 500 fund is around a third in its top ten and that is normal. What matters is knowing, especially when the concentration comes from funds you thought were diversifying you.