Look-through exposure software aggregates and normalizes holdings data from multiple general partners to give limited partners and fund-of-funds managers a unified view of their ultimate portfolio company exposures across all underlying investments. The category solves the problem of concentration risk and hidden overlap when an LP invests through several managers who may hold positions in the same companies. Core capabilities include ingesting GP reports in varied formats, resolving company identities across different naming conventions, calculating attributable exposure by investment vehicle, and flagging overlaps or sector concentrations. The category has evolved from spreadsheet-based manual reconciliation to automated data ingestion and entity resolution, increasingly leveraging machine learning to improve company matching accuracy and handle complex fund structures including co-investments and secondaries.