Well, now is your chance. The market's 20% decline has shrunk many gains and probably also handed you some losses to offset against them. That makes this a great time to eliminate duplicates (you need only one S&P 500 indexer, for example), unload funds you don't understand and create a simpler portfolio.
For a model, see "The only 7 investments you'll need." Or, for the ultimate in simplicity, boil it all down to a single target-date retirement fund, essentially a lifetime investment strategy in one portfolio.