Describing Inventory Portfolios
An inventory portfolio groups a set of applications.
Creating a portfolio with consists of defining all the information (comparison criteria, timelines, etc.) that will then allow you to select initiatives to be implemented.

A portfolio enables representation of all investments of an enterprise (or department) necessary to carry out changes required to achieve strategic objectives. It comprises a set of initiatives to be compared based on comparison criteria associated with the portfolio.

An initiative is a portfolio element corresponding to an investment program identified by the enterprise (or department) to achieve strategic objectives.
You can also create a inventory portfolios for technologies, as Technology Portfolio Manager. The technology portfolio definition uses the same methods than applications portfolios.