Arrow-Debreu’s seminal works generated the field of portfolio diversification theory, followed by seminal works of CAPM and allied models. However, it has been observed since past decades that CAPM and allied frame works have not predicted well the investment behaviors under contexts like uncertainty. Recently quantum-like modelling or quantum decision theory has been formulated to account for choice behavior under contexts, which is a comprehensive decision-making framework based on quantum logic rather than standard Boolean logic. This short paper provides a possible set up for portfolio choice behavior under contexts based upon the very frame work.