The article introduces the concept of an integral business portfolio from the point of view of the financial and production approach of the owner of an industrial enterprise. The authors formulate the peculiarities of the market of industrial business that distinguish it from the stock market and are common for both, which makes it possible to use the stock market methodological approaches to form and manage industrial business portfolios. To assess the degree of reliability of the company's portfolio, one should identify groups of diversifiable risks associated with its external surroundings and internal environment. The authors formulate heuristic principles of preserving the integrity of an industrial enterprise and propose the criteria for selecting business objects that determine the level of integrity of the business portfolio, as well as the algorithm for its restructuring. As a tool for restructuring the company's business portfolio, the authors developed a table of owner’s strategic preferences in the form of a two-dimensional representation of three factors: profitability, risk level, and the owner's attitude to the risk of investments. Proposed approach provides an opportunity for a quantitative justification for making decisions within the framework of integration and business diversification strategies. A feature of this approach is the simplification of the task of risk assessment, since it is intended to evaluate not the absolute values of risks, which is not an easy task, but only the degree of dispersion or consistency of risk structures.