It makes sense to have a portfolio where one can subdivide it in 2 parts namely those stocks which one can hold for short time like children education, marriage or house purchase etc. Secondly one can have stocks with higher risk but with minimum short term holding. This can be summed as a portfolio with a core group and a satellite group. Core group forms those stocks which are for long term with higher goals for achievement.
HDFC bank has a fund of similar nature where core group of fund is formed by well established and large cap companies and satellite group by those companies which has higher risk. The core portion is usually kept at 60-80% of the portfolio and balance in satellite group.