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Annualised return, volatility, Sharpe, Sortino and Calmar are withheld: annualising a short sample produces numbers that look precise and are not."},"nav_series":[["2026-08-09T13:19:52.045887+00:00","99933.559145878846"],["2026-08-10T12:00:03.170449+00:00","100241.889647938846"]],"positions":[{"symbol":"ABT","quantity":"111.152279","avg_cost":"107.307048","stop_price":"102.2414280","opened_at":"2026-08-06T20:06:00+00:00","weight_pct":11.95,"sector":"Health Care"},{"symbol":"AMZN","quantity":"37.658705","avg_cost":"272.934348","stop_price":"252.3442860","opened_at":"2026-08-06T20:06:00+00:00","weight_pct":10.31,"sector":"Consumer Discretionary"},{"symbol":"MSFT","quantity":"20.828374","avg_cost":"499.324403","stop_price":"463.8514280","opened_at":"2026-08-06T20:06:00+00:00","weight_pct":10.39,"sector":"Information Technology"},{"symbol":"NVDA","quantity":"48.026827","avg_cost":"221.588100","stop_price":"203.3737280","opened_at":"2026-08-06T20:06:00+00:00","weight_pct":10.73,"sector":"Information Technology"}],"fills":[{"ts":"2026-08-06T20:06:00+00:00","symbol":"MSFT","side":"BUY","quantity":"20.828374","fill_price":"499.324403","reference_price":"499.21","fill_convention":"next_bar_open:fallback","costs_usd":null,"run_id":"run_8cc01577ecda4de3"},{"ts":"2026-08-06T20:06:00+00:00","symbol":"AMZN","side":"BUY","quantity":"37.658705","fill_price":"272.934348","reference_price":"272.87","fill_convention":"next_bar_open:fallback","costs_usd":null,"run_id":"run_8cc01577ecda4de3"},{"ts":"2026-08-06T20:06:00+00:00","symbol":"ABT","side":"BUY","quantity":"111.152279","fill_price":"107.307048","reference_price":"107.03","fill_convention":"next_bar_open:fallback","costs_usd":null,"run_id":"run_8cc01577ecda4de3"},{"ts":"2026-08-06T20:06:00+00:00","symbol":"NVDA","side":"BUY","quantity":"48.026827","fill_price":"221.588100","reference_price":"221.54","fill_convention":"next_bar_open:fallback","costs_usd":null,"run_id":"run_8cc01577ecda4de3"}],"rejections":[],"reason":""},"recent_decisions":[{"run_id":"run_589154c6ef4c4a5c","ts":"2026-08-10T12:00:03.170449+00:00","phase":"intraday","model_id":"claude-sonnet-4-5","factpack_hash":"0c547474bb0bb3fb571136645eccbb4a7eec336bc7266f99b47368715f497604","prompt_hash":"3b813dac23a8c8e198438ecb9c630d27b8143580caccefc827dd9299e010d064","market_open":null,"market_view":"AI-generated. All quantitative claims traced to the published fact pack.\n\nThe portfolio is highly concentrated in four mega-cap tech and healthcare positions (ABT, AMZN, MSFT, NVDA) representing ~43% of capital, with ~57% cash (pf.cash_pct). All four holdings show positive short-term momentum and are above entry prices with 3 days holding period (pos.ABT.days_held, pos.AMZN.days_held). Across the eligible universe, strong 5-day and 20-day momentum clusters are visible in several sectors: technology (AVGO +9.88/5d, +6.95/20d; ARM +17.89/5d; ALAB +7.37/5d), healthcare (AMGN +6.70/5d, +13.09/20d; ABBV +18.37/60d; BDX +6.79/5d, +16.40/20d), industrials (ABNB +17.52/5d, +19.82/20d; ALLE +7.33/5d, +23.65/20d), and notable single-stock surges (COHR +44.22/5d; CIEN +9.37/5d after -28.55/60d drawdown). The 20-day returns show divergence: ACN +29.94/20d but -29.01/252d suggests a counter-trend rally; ADBE +18.59/20d but -23.27/252d similar pattern. Volatility is elevated in semiconductors (AMAT 5.47% daily vol; AMD 5.37%) and high-growth names (ABNB 4.06%; ARKK 2.68%). Several names show breakout patterns after consolidation (BKNG +11.16/5d, +20.20/20d, +33.55/60d). Negative momentum concentrated in specific pockets: APP -12.40/5d, -31.59/20d; APTV -12.25/5d, -18.19/20d; CMG -11.90/5d. The data truncation is a significant concern limiting universe visibility beyond symbol COP, eliminating roughly 300+ symbols from analysis.","view_annotation":"published","abstain":false,"grounding_ok":true,"proposals":[{"symbol":"AVGO","action":"BUY","conviction":4,"target_weight_pct":null,"accepted":true,"codes":[]},{"symbol":"ABNB","action":"BUY","conviction":4,"target_weight_pct":null,"accepted":true,"codes":[]},{"symbol":"AMGN","action":"BUY","conviction":3,"target_weight_pct":null,"accepted":true,"codes":["CLAMP_POSITION_CAP"]},{"symbol":"BKNG","action":"BUY","conviction":3,"target_weight_pct":null,"accepted":true,"codes":["CLAMP_POSITION_CAP"]}],"fills":[],"halted":false,"halt_codes":[]},{"run_id":"run_8cc01577ecda4de3","ts":"2026-08-09T13:18:54.339591+00:00","phase":"post_close","model_id":"claude-sonnet-4-5","factpack_hash":"4dc20f7876717d5ae77155b1edf0400885b61c03617943f26187982821f1b9b2","prompt_hash":"4eab02c840c8efde9f9e56f3ae8ca40fb21718fdf46c4974750defe63455bc9b","market_open":null,"market_view":"The portfolio is starting from a clean slate with 100% cash (pf.cash_pct). The market exhibits clear divergence in recent performance across timeframes. \n\n**Short-term (5-day) momentum winners show strong reversals:** MSFT +10.8% (px.MSFT.ret_5d), AMZN +15.6% (px.AMZN.ret_5d), NVDA +12.3% (px.NVDA.ret_5d), ORCL +12.5% (px.ORCL.ret_5d), and GOOGL +7.2% (px.GOOGL.ret_5d) all bounced sharply over the past week after underperforming or declining on the 20-day horizon.\n\n**20-day trends reveal sector rotation:** Technology stocks show mixed performance with MSFT up 30.0% (px.MSFT.ret_20d) and ACN up 23.0% (px.ACN.ret_20d), while semiconductors like AMD -10.5% (px.AMD.ret_20d), QCOM -16.1% (px.QCOM.ret_20d), and SMH -6.0% (px.SMH.ret_20d) have pulled back. Healthcare names like ABT +14.4% (px.ABT.ret_20d), ABBV -2.4% (px.ABBV.ret_20d after strong 60d +20.3%), and TMO +10.5% (px.TMO.ret_20d) show selective strength.\n\n**Longer-term (60-day) strength highlights mean-reversion setups:** Industrials HON +109.5% (px.HON.ret_60d) stands out as an extreme outlier likely warranting caution. Healthcare continues to show robust trends: TMO +28.2% (px.TMO.ret_60d), ABT +30.8% (px.ABT.ret_60d), LLY +23.3% (px.LLY.ret_60d). Financials BAC +24.6% (px.BAC.ret_60d), JPM +18.8% (px.JPM.ret_60d), WFC +19.0% (px.WFC.ret_60d) demonstrate broad strength.\n\n**Volatility and liquidity are ample:** Large-cap tech offers excellent liquidity (AAPL 18.2B ADV, NVDA 26.7B ADV, MSFT 17.0B ADV). Realized volatility ranges from moderate (AAPL 2.5%, px.AAPL.vol_daily_pct) to elevated (INTC 5.6%, px.INTC.vol_daily_pct; ORCL 4.5%, px.ORCL.vol_daily_pct).\n\n**Key observations for swing trading:**\n1. Strong 5-day bounces in mega-cap tech after 20-60 day consolidations suggest momentum continuation potential\n2. Healthcare sector showing persistent multi-timeframe strength across defensive (ABT, TMO) and growth (LLY) names\n3. Financials demonstrate coordinated strength suggesting sector tailwinds\n4. Energy and materials remain weak on intermediate timeframes despite recent micro-bounces\n\nThe current regime favors both trend continuation in established winners (healthcare, select financials) and mean-reversion entries in quality tech names bouncing from short-term weakness.","view_annotation":"unavailable","abstain":false,"grounding_ok":true,"proposals":[{"symbol":"MSFT","action":"BUY","conviction":5,"target_weight_pct":null,"accepted":true,"codes":[]},{"symbol":"AMZN","action":"BUY","conviction":4,"target_weight_pct":null,"accepted":true,"codes":[]},{"symbol":"ABT","action":"BUY","conviction":4,"target_weight_pct":null,"accepted":true,"codes":["CLAMP_POSITION_CAP"]},{"symbol":"NVDA","action":"BUY","conviction":4,"target_weight_pct":null,"accepted":true,"codes":[]}],"fills":[{"symbol":"MSFT","side":"BUY","quantity":"20.828374","fill_price":"499.324403"},{"symbol":"AMZN","side":"BUY","quantity":"37.658705","fill_price":"272.934348"},{"symbol":"ABT","side":"BUY","quantity":"111.152279","fill_price":"107.307048"},{"symbol":"NVDA","side":"BUY","quantity":"48.026827","fill_price":"221.588100"}],"halted":false,"halt_codes":[]},{"run_id":"run_7dcff18d25a74af2","ts":"2026-08-09T13:16:26.048223+00:00","phase":"post_close","model_id":"claude-sonnet-4-5","factpack_hash":"6c3d543208e248b3be8a853f39226fb40c48cfcd5bf4232bd7388d9f48894dfb","prompt_hash":"4eab02c840c8efde9f9e56f3ae8ca40fb21718fdf46c4974750defe63455bc9b","market_open":null,"market_view":null,"view_annotation":null,"abstain":null,"grounding_ok":null,"proposals":[],"fills":[],"halted":false,"halt_codes":[]},{"run_id":"run_2d4471f30cef4a7a","ts":"2026-08-09T12:34:47.413686+00:00","phase":"post_close","model_id":"claude-sonnet-4-5","factpack_hash":"d7e4c65a891ba2f6751d27137f5e5ae9db101d1bd5b9864dbad9a2aa940a3d05","prompt_hash":"4eab02c840c8efde9f9e56f3ae8ca40fb21718fdf46c4974750defe63455bc9b","market_open":null,"market_view":null,"view_annotation":null,"abstain":null,"grounding_ok":null,"proposals":[],"fills":[],"halted":false,"halt_codes":[]}],"disclosure_refs":["hypothetical","not_advice","ai_generated","past_performance","costs","no_execution","jurisdiction"],"status_note":""},{"id":"P03","slug":"billionaire-consensus","name":"Billionaire Consensus","status":"active","is_graveyard":false,"is_tradeable":true,"experimental":false,"risk_level":"moderate","rulebook_version":"1.1.1","effective_from":"2026-08-06","mandate_hash":"7d7ab1e3dcd2ae80e13747d4367bfa670d1ad13f27a4137bbbe43472a76234a9","starting_capital_usd":{"v":100000,"src":"aiport_own_work","derived":true},"objective":"Hold the US-listed equities most widely and heavily owned across a fixed, publicly declared list of large institutional investment managers, as disclosed in their SEC Form 13F-HR filings.","philosophy":"A near-zero-discretion, rules-first portfolio. If many independent, well resourced managers independently arrive at the same position, that overlap is a signal worth mechanically expressing. The AI's role here is deliberately the smallest of any portfolio: it explains and it flags data anomalies. It does not pick.","benchmarks":{"primary":"SPY","secondary":["RSP","IWB"]},"ai":{"role":"explain_and_flag_only","role_plain":"This portfolio's AI explains and flags. It makes no trade proposals at all — the maximum is zero, enforced by the mandate validator. Position selection is fully mechanical.","model_tier":"deep","prompt_version":"P03-v1","max_proposals_per_run":0,"allowed_actions":["EXPLAIN","FLAG_DATA_ANOMALY"],"cannot_do":["set a price","set a quantity or share count","set a weight or position size","set or move a risk limit","execute anything"]},"execution":{"cost_profile":"zero_commission_us","fill_convention":"vwap_window","decision_to_order_latency_seconds":60,"vwap_window_minutes":15,"note":"Fills are struck on a VWAP window that begins strictly after the decision timestamp plus a latency delay. No fill can use information from the bar in which the decision was made, so look-ahead is arithmetically impossible rather than merely avoided."},"limits":[{"group":"exposure","label":"Maximum gross exposure","value":"100.0%","enforced_by":"gate 2 — size_order"},{"group":"exposure","label":"Maximum single sector","value":"35.0%","enforced_by":"gate 2 — size_order"},{"group":"permissions","label":"Shorting","value":"prohibited","enforced_by":"gate 1 — proposal validation"},{"group":"permissions","label":"Derivatives","value":"prohibited","enforced_by":"gate 1 — proposal validation"},{"group":"permissions","label":"Margin","value":"prohibited","enforced_by":"gate 1 — proposal validation"},{"group":"sizing","label":"Minimum new position","value":"1.5%","enforced_by":"gate 2 — size_order"},{"group":"sizing","label":"Maximum order as % of ADV","value":"1.0%","enforced_by":"gate 2 — size_order"},{"group":"data integrity","label":"Stale-data halt","value":"48 hours","enforced_by":"gate 3 — HALT_STALE_DATA"},{"group":"drawdown ladder","label":"At −20.0% drawdown","value":"alert, publish_commentary","enforced_by":"gate 3 — drawdown ladder"},{"group":"drawdown ladder","label":"At −35.0% drawdown","value":"alert, mandatory_deep_review","enforced_by":"gate 3 — drawdown ladder"},{"group":"drawdown ladder","label":"At −55.0% drawdown","value":"graveyard_review","enforced_by":"gate 3 — drawdown ladder"},{"group":"turnover","label":"Max trades per quarter","value":30,"enforced_by":"entry block — PAUSE_TURNOVER_CAP_REACHED (never blocks an exit)"},{"group":"turnover","label":"Min holding period days","value":0,"enforced_by":"entry block — PAUSE_TURNOVER_CAP_REACHED (never blocks an exit)"},{"group":"circuit breakers","label":"Halt trading if price gap unexplained pct","value":25.0,"enforced_by":"gate 3 — circuit breaker"},{"group":"circuit breakers","label":"Halt trading if 13f parse error rate above pct","value":5.0,"enforced_by":"gate 3 — circuit breaker"},{"group":"circuit breakers","label":"Halt trading if unmapped figi rate above pct","value":10.0,"enforced_by":"gate 3 — circuit breaker"},{"group":"circuit breakers","label":"Halt trading if factpack hash mismatch","value":true,"enforced_by":"gate 3 — circuit breaker"}],"mandatory_disclosures":["13F filings are due 45 days after quarter end. Position data is between 45 and 136 days old, mean approximately 90 days.","13F discloses LONG US-listed positions only. Shorts, cash, foreign listings and most derivatives are invisible.","Managers may omit positions under 10,000 shares AND under $200,000, and may request confidential treatment for others.","This portfolio is not affiliated with, endorsed by, or connected to any manager named. Managers are identified by SEC CIK.","Security identifiers are published as ticker and FIGI. CUSIP identifiers are never published."],"review_schedule":[{"name":"filing_watch","cron":"0 9 12-20 2,5,8,11 *","tz":"America/New_York","decision":false},{"name":"rebalance_run","cron":"0 17 15-21 2,5,8,11 *","tz":"America/New_York","decision":true},{"name":"monthly_risk","cron":"0 12 1 * *","tz":"America/New_York","decision":false}],"data_requirements":{"filings":{"source":"sec_edgar","forms":["13F-HR","13F-HR/A"],"paths":{"bulk":"https://www.sec.gov/data-research/sec-markets-data/form-13f-data-sets","per_filer":"https://data.sec.gov/submissions/CIK{cik10}.json"},"user_agent_required":true,"max_requests_per_second":10},"identifier_mapping":{"source":"openfigi","input":"cusip","output":["ticker","figi","name"],"publish_cusip":false},"freshness_overlay":{"forms":["SC 13D","SC 13G","4"],"purpose":"display_only"},"prices":{"source":"primary_price_feed","fields":["close","adv60","market_cap"],"lag":"t_minus_1"},"corporate_actions":{"source":["ca_primary","ca_crosscheck"],"lookback_days":120}},"universe_summary":{"asset_classes":["us_common_stock","us_etf","cash_equivalent"],"exclusions":["put_call_positions","non_us_listed","otc_and_pink_sheets","leveraged_etf","inverse_etf"],"inclusion_rules":{"min_managers_holding":3,"min_market_cap_usd":2000000000,"min_avg_daily_dollar_volume_usd":10000000,"min_price_usd":5.0,"require_resolvable_ticker_via_openfigi":true},"cash_equivalents":["SGOV"]},"retirement":null,"rulebook_doc":"docs/portfolios/P03_billionaire_consensus.md","mandate_file":"config/portfolios/P03_billionaire_consensus.yaml","track_record":{"has_record":true,"licence_key":"aiport_own_work","observations":1,"days_live":0,"inception":"2026-08-09T12:35:01.114922+00:00","as_of":"2026-08-09T12:35:01.114922+00:00","latest_day_change_pct":null,"stats":{"observations":1,"start_nav":100000.0,"end_nav":100000.0,"total_return_pct":0.0,"max_drawdown_pct":0.0,"max_drawdown_start":null,"max_drawdown_end":null,"current_drawdown_pct":0.0,"annualised_return_pct":null,"annualised_vol_pct":null,"sharpe":null,"sortino":null,"calmar":null,"best_day_pct":null,"worst_day_pct":null,"positive_days_pct":null,"var_95_daily_pct":null,"cumulative_fees_usd":0.0,"cumulative_fees_pct_of_start":0.0,"cumulative_dividends_usd":0.0,"gross_return_pct":0.0,"cost_drag_pct":0.0,"insufficient_history":true,"note":"Fewer than two NAV observations. No statistics are meaningful yet."},"nav_series":[["2026-08-09T12:35:01.114922+00:00","100000"]],"positions":[],"fills":[],"rejections":[],"reason":""},"recent_decisions":[{"run_id":"run_87659e2faa224821","ts":"2026-08-09T12:34:48.230908+00:00","phase":"post_close","model_id":"claude-sonnet-4-5","factpack_hash":"4ca00ce83c2ee5af2c7e59ea5eedde40a39b86f37c76fefc924ce05a83116161","prompt_hash":"c1e780213504322ea2869b9cea495b829861d1ab73b3a8757963c6fccb14cfac","market_open":null,"market_view":"The Billionaire Consensus portfolio (P03) is currently in its initial state awaiting the first rebalance window. As of 2026-08-06, the portfolio holds no positions (pf.position_count = 0) and remains fully in cash (pf.cash_pct = 100, pf.cash = 100,000 USD, pf.nav = 100,000 USD). The risk state is PAUSE_OUTSIDE_REBALANCE_WINDOW with the next rebalance window opening on 2026-08-14.\n\nThis portfolio follows a near-zero-discretion, rules-based strategy that mechanically holds US-listed equities based on institutional 13F-HR filing consensus. Trading is restricted to designated rebalance windows aligned with SEC filing periods. The current state shows zero eligible symbols and zero held symbols, indicating that no institutional filing data has yet been processed to populate the investment universe.\n\nThe portfolio shows zero total return (pf.total_return_pct = 0), zero drawdown (pf.drawdown_pct = 0), zero cumulative fees (pf.fees_paid = 0 USD), and zero dividends (pf.dividends = 0 USD), all consistent with inception state prior to first deployment.\n\nUnder this mandate's explain-and-flag-only role, I am restricted from proposing trades. The portfolio will remain frozen until the rebalance window opens on 2026-08-14, at which point the deterministic rules engine will populate positions based on institutional consensus data. No data anomalies are evident in the current fact pack; all metrics are internally consistent with an uninvested, pre-deployment state.","view_annotation":"unavailable","abstain":true,"grounding_ok":false,"proposals":[],"fills":[],"halted":false,"halt_codes":[]}],"disclosure_refs":["hypothetical","not_advice","ai_generated","past_performance","costs","no_execution","jurisdiction"],"status_note":""},{"id":"P04","slug":"digital-assets-equities","name":"Digital Assets & Equities","status":"active","is_graveyard":false,"is_tradeable":true,"experimental":false,"risk_level":"very_high","rulebook_version":"1.1.1","effective_from":"2026-08-06","mandate_hash":"aed512794741f98eb827b67ce9c1cb129cd266cb3b8ac94dfa69386c0bb158cb","starting_capital_usd":{"v":100000,"src":"aiport_own_work","derived":true},"objective":"Express diversified exposure to the digital-asset economy across two sleeves: spot crypto majors, and US-listed equities and ETPs whose economics are driven by digital assets. Survive a full crypto drawdown cycle without being forced to zero.","philosophy":"Crypto's problem is not direction, it is position sizing. This portfolio treats volatility as the binding constraint: sleeve weights are set by a deterministic volatility-targeting rule, and the AI selects only within the eligible set. No leverage, no yield products, no staking, no lending, spot only.","benchmarks":{"primary":"50_50_BTC_SPY","secondary":["BTC_SPOT","SPY","IBIT"]},"ai":{"role":"rank_and_explain","role_plain":"This portfolio's AI ranks candidates and explains its reasoning. It proposes direction and conviction only. Every price, quantity, weight and risk limit is computed by deterministic code the model cannot see or influence.","model_tier":"deep","prompt_version":"P04-v1","max_proposals_per_run":5,"allowed_actions":["BUY","ADD","TRIM","SELL","HOLD"],"cannot_do":["set a price","set a quantity or share count","set a weight or position size","set or move a risk limit","execute anything"]},"execution":{"cost_profile":"crypto_retail_punitive","fill_convention":"vwap_window","decision_to_order_latency_seconds":60,"vwap_window_minutes":15,"note":"Fills are struck on a VWAP window that begins strictly after the decision timestamp plus a latency delay. No fill can use information from the bar in which the decision was made, so look-ahead is arithmetically impossible rather than merely avoided."},"limits":[{"group":"exposure","label":"Maximum gross exposure","value":"100.0%","enforced_by":"gate 2 — size_order"},{"group":"exposure","label":"Maximum single issuer","value":"15.0%","enforced_by":"gate 2 — size_order"},{"group":"exposure","label":"Maximum single sector","value":"100.0%","enforced_by":"gate 2 — size_order"},{"group":"permissions","label":"Shorting","value":"prohibited","enforced_by":"gate 1 — proposal validation"},{"group":"permissions","label":"Derivatives","value":"prohibited","enforced_by":"gate 1 — proposal validation"},{"group":"permissions","label":"Margin","value":"prohibited","enforced_by":"gate 1 — proposal validation"},{"group":"permissions","label":"Leverage","value":"prohibited","enforced_by":"gate 1 — proposal validation"},{"group":"sizing","label":"Maximum positions","value":"crypto_spot: 6, equities: 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CoinGecko"},"equity_prices":{"source":"primary_price_feed","fields":["close","adv60","vol_30d","market_cap"],"lag":"t_minus_1"},"fundamentals":{"source":"sec_xbrl","fields":["revenue","net_income","cash","total_debt","shares_outstanding"],"point_in_time":true},"corporate_actions":{"source":["ca_primary","ca_crosscheck"],"lookback_days":90},"news":{"source":["sec_8k","issuer_ir_rss","gdelt_links"],"mode":"headline_and_link_only","lookback_days":7},"macro":{"source":"fred","series":["DGS10","DTWEXBGS","FEDFUNDS"]}},"universe_summary":{"asset_classes":["crypto_spot","us_common_stock","us_etf","cash_equivalent"],"sleeves":["crypto_spot","equities"],"cash_equivalents":["SGOV"]},"retirement":null,"rulebook_doc":"docs/portfolios/P04_digital_assets_equities.md","mandate_file":"config/portfolios/P04_digital_assets_equities.yaml","track_record":{"has_record":true,"licence_key":"aiport_own_work","observations":1,"days_live":0,"inception":"2026-08-09T13:20:03.531885+00:00","as_of":"2026-08-09T13:20:03.531885+00:00","latest_day_change_pct":null,"stats":{"observations":1,"start_nav":100000.0,"end_nav":100000.0,"total_return_pct":0.0,"max_drawdown_pct":0.0,"max_drawdown_start":null,"max_drawdown_end":null,"current_drawdown_pct":0.0,"annualised_return_pct":null,"annualised_vol_pct":null,"sharpe":null,"sortino":null,"calmar":null,"best_day_pct":null,"worst_day_pct":null,"positive_days_pct":null,"var_95_daily_pct":null,"cumulative_fees_usd":0.0,"cumulative_fees_pct_of_start":0.0,"cumulative_dividends_usd":0.0,"gross_return_pct":0.0,"cost_drag_pct":0.0,"insufficient_history":true,"note":"Fewer than two NAV observations. No statistics are meaningful yet."},"nav_series":[["2026-08-09T13:20:03.531885+00:00","100000"]],"positions":[],"fills":[],"rejections":[],"reason":""},"recent_decisions":[{"run_id":"run_ab5d5542f8ff45c6","ts":"2026-08-09T13:19:52.136912+00:00","phase":"post_close","model_id":"claude-sonnet-4-5","factpack_hash":"a2a61d69a0d60c62de532dfb9cb25c2c9d065c4f650f95e9edee78db95f3d674","prompt_hash":"f295cc4ae7323469a39ac2f3842077f643305fd566bbd9b2b424c7782b924605","market_open":null,"market_view":"The portfolio is at inception with 100% cash (pf.cash_pct, pf.nav, pf.cash) and zero positions (pf.position_count). The mandate targets diversified exposure across spot crypto majors and US-listed digital-asset equities/ETPs, with volatility-based sleeve weighting and a \"very high\" target risk profile.\n\nHowever, the fact pack provides ZERO eligible symbols for trading. Both the crypto sleeve and equity sleeve appear to be empty. Without any instruments in the eligible universe, it is impossible to construct positions, assess relative value, or execute the mandate's diversification objective.\n\nThis is a data completeness issue, not a market timing decision. The absence of eligible symbols may indicate:\n- The symbol universe has not yet been loaded into the system\n- A configuration error in the mandate setup\n- Missing reference data feeds\n\nUntil the eligible symbol list is populated with spot crypto assets (e.g. BTC, ETH) and digital-asset equities/ETPs (e.g. miners, exchanges, thematic funds), no deployment of the $100,000 starting capital (pf.starting_capital) is possible. The mandate cannot be executed in its current state.","view_annotation":"unavailable","abstain":true,"grounding_ok":false,"proposals":[],"fills":[],"halted":false,"halt_codes":[]},{"run_id":"run_b9b8d97225f640f4","ts":"2026-08-09T13:16:32.024141+00:00","phase":"post_close","model_id":"claude-sonnet-4-5","factpack_hash":"ce5540ccc50f9abcf2b042c1eefc2393431b9bd37cced07426bc2096f424b669","prompt_hash":"f295cc4ae7323469a39ac2f3842077f643305fd566bbd9b2b424c7782b924605","market_open":null,"market_view":null,"view_annotation":null,"abstain":null,"grounding_ok":null,"proposals":[],"fills":[],"halted":false,"halt_codes":[]},{"run_id":"run_92799fdfc6a44239","ts":"2026-08-09T12:35:01.248401+00:00","phase":"post_close","model_id":"claude-sonnet-4-5","factpack_hash":"5fdce8c3030e8bff23fe8b09de7dfbabf3bcd3c96cb528d989034048ad31c74b","prompt_hash":"f295cc4ae7323469a39ac2f3842077f643305fd566bbd9b2b424c7782b924605","market_open":null,"market_view":null,"view_annotation":null,"abstain":null,"grounding_ok":null,"proposals":[],"fills":[],"halted":false,"halt_codes":[]}],"disclosure_refs":["hypothetical","not_advice","ai_generated","past_performance","costs","no_execution","jurisdiction"],"status_note":""},{"id":"P05","slug":"political-trades-tracker","name":"Political Trades Tracker","status":"graveyard","is_graveyard":true,"is_tradeable":false,"experimental":false,"risk_level":"high","rulebook_version":"1.0.0","effective_from":"2026-09-01","mandate_hash":"dd69a39b6d8ff18916f8e206609f6421696e41dbec7469e174493cfa0ea74667","starting_capital_usd":{"v":100000,"src":"aiport_own_work","derived":true},"objective":"Publish, and mechanically mirror, the stock purchases that US federal legislators disclose under the STOCK Act. The point is transparency: to show what a portfolio built only from public disclosure would actually have done, including the cost of the disclosure delay.","philosophy":"This is NOT copy trading. The measured median lag from trade to filing is 24-29 days (House 23.5 median, Senate 29.0 median, statutory max 45). By the time a filing is public, it is public to everyone simultaneously and the large trackers publish within hours. Any information advantage is gone. What remains is a slow thematic tilt toward what legislators were buying a month ago. The portfolio is honest about being that.","benchmarks":{"primary":"SPY","secondary":["RSP","QQQ"]},"ai":{"role":"explain_and_flag_only","role_plain":"This portfolio's AI explains and flags. It makes no trade proposals at all — the maximum is zero, enforced by the mandate validator. Position selection is fully mechanical.","model_tier":"fast","prompt_version":"P05-v1","max_proposals_per_run":0,"allowed_actions":["EXPLAIN","FLAG_DATA_ANOMALY"],"cannot_do":["set a price","set a quantity or share count","set a weight or position size","set or move a risk limit","execute anything"]},"execution":{"cost_profile":"zero_commission_us","fill_convention":"vwap_window","decision_to_order_latency_seconds":60,"vwap_window_minutes":15,"note":"Fills are struck on a VWAP window that begins strictly after the decision timestamp plus a latency delay. No fill can use information from the bar in which the decision was made, so look-ahead is arithmetically impossible rather than merely avoided."},"limits":[{"group":"exposure","label":"Maximum gross exposure","value":"100.0%","enforced_by":"gate 2 — size_order"},{"group":"exposure","label":"Maximum single sector","value":"40.0%","enforced_by":"gate 2 — size_order"},{"group":"permissions","label":"Shorting","value":"prohibited","enforced_by":"gate 1 — proposal validation"},{"group":"permissions","label":"Derivatives","value":"prohibited","enforced_by":"gate 1 — proposal validation"},{"group":"permissions","label":"Margin","value":"prohibited","enforced_by":"gate 1 — proposal validation"},{"group":"sizing","label":"Maximum positions","value":40,"enforced_by":"gate 2 — size_order"},{"group":"sizing","label":"Minimum new position","value":"1.0%","enforced_by":"gate 2 — size_order"},{"group":"sizing","label":"Maximum order as % of ADV","value":"0.5%","enforced_by":"gate 2 — size_order"},{"group":"loss limits","label":"Single-day loss alert","value":"5.0%","enforced_by":"gate 3 — alert"},{"group":"data integrity","label":"Stale-data halt","value":"96 hours","enforced_by":"gate 3 — HALT_STALE_DATA"},{"group":"drawdown ladder","label":"At −15.0% drawdown","value":"alert, publish_commentary","enforced_by":"gate 3 — drawdown ladder"},{"group":"drawdown ladder","label":"At −25.0% drawdown","value":"alert, scale_new_position_size:0.5","enforced_by":"gate 3 — drawdown ladder"},{"group":"drawdown ladder","label":"At −35.0% drawdown","value":"alert, mandatory_deep_review, pause_new_positions_days:15","enforced_by":"gate 3 — drawdown ladder"},{"group":"drawdown ladder","label":"At −55.0% drawdown","value":"graveyard_review","enforced_by":"gate 3 — drawdown ladder"},{"group":"turnover","label":"Max trades per week","value":20,"enforced_by":"entry block — PAUSE_TURNOVER_CAP_REACHED (never blocks an exit)"},{"group":"turnover","label":"Min holding period days","value":5,"enforced_by":"entry block — PAUSE_TURNOVER_CAP_REACHED (never blocks an exit)"},{"group":"circuit breakers","label":"Halt trading if price gap unexplained pct","value":25.0,"enforced_by":"gate 3 — circuit breaker"},{"group":"circuit breakers","label":"Halt trading if parse error rate above pct","value":20.0,"enforced_by":"gate 3 — circuit breaker"},{"group":"circuit breakers","label":"Halt trading if ticker resolution rate below pct","value":80.0,"enforced_by":"gate 3 — circuit breaker"},{"group":"circuit breakers","label":"Halt trading if factpack hash mismatch","value":true,"enforced_by":"gate 3 — circuit breaker"}],"mandatory_disclosures":["Disclosed transaction amounts are RANGES, not exact figures. 65% of all filings fall in the single bucket $1,001-$15,000. Position sizes here are equal-weighted and are NOT derived from disclosed amounts.","Measured median disclosure lag: House 23.5 days, Senate 29.0 days. Statutory maximum 45 days. Worst observed 119 days.","Approximately 10-13% of House filings and 14% of Senate filings are scanned images and are not machine-readable. They are excluded and the exclusion count is published daily.","Mutual funds, ETFs in excepted investment funds, the Thrift Savings Plan, real property and inherited assets are exempt from disclosure and are therefore invisible here.","Inclusion of a legislator is not a claim of wrongdoing. Data is reproduced from public filings for transparency purposes."],"review_schedule":[{"name":"filing_ingest","cron":"30 9 * * MON-FRI","tz":"America/New_York","decision":false},{"name":"signal_run","cron":"0 17 * * MON-FRI","tz":"America/New_York","decision":true},{"name":"weekly_review","cron":"0 12 * * SUN","tz":"America/New_York","decision":true}],"data_requirements":{"disclosures":{"source":["house_clerk_bulk","senate_efd"],"fields":["filer_name","chamber","doc_id","filing_date","transaction_date","ticker","asset_name","transaction_type","amount_bracket","owner"],"rate_limit_rps":2,"user_agent_required":true},"identifier_mapping":{"source":"openfigi","publish_cusip":false},"prices":{"source":"primary_price_feed","fields":["close","adv60","market_cap"],"lag":"t_minus_1"},"corporate_actions":{"source":["ca_primary","ca_crosscheck"],"lookback_days":200},"news":{"source":["sec_8k","gdelt_links"],"mode":"headline_and_link_only","lookback_days":7}},"universe_summary":{"asset_classes":["us_common_stock","us_etf","cash_equivalent"],"exclusions":["options_and_derivatives","bonds_and_fixed_income","non_us_listed","otc_and_pink_sheets","municipal_and_treasury","cryptocurrency","scanned_unparseable_filings","leveraged_etf","inverse_etf"],"inclusion_rules":{"transaction_types":["P","Purchase"],"min_market_cap_usd":500000000,"min_avg_daily_dollar_volume_usd":5000000,"min_price_usd":3.0,"require_resolvable_ticker":true,"min_distinct_filers":1,"signal_freshness_trading_days":10},"cash_equivalents":["SGOV"]},"retirement":{"retired_on":"2026-08-06","traded":false,"reason_code":"WITHDRAWN_LEGAL_QUESTION_NOT_PURSUED","reason":"Withdrawn before launch. The portfolio depends on congressional financial disclosure data, and 5 U.S.C. § 13107(c) makes it unlawful to use those reports for any commercial purpose other than by news and communications media for dissemination to the general public. Every existing tracker relies on that exception. Whether this site sits inside it is a question for counsel, and the operator has decided not to obtain that advice. Rather than operate on an assumption, the portfolio is retired.\n","classification":"legal","what_would_reopen_it":"A recorded sign-off from US counsel in docs/compliance/SIGNOFF.md confirming the news-media framing. The code, the mandate and the rulebook are unchanged and functional; only the status gate stands in the way.\n","note_on_the_alternative":"H.R. 7008 passed the House on 2026-07-22 and would end congressional stock purchases 180 days after enactment while requiring public notice of intent to sell 7 to 14 days beforehand with share counts. That would be a better dataset than the one this portfolio was built on. The v2 pivot is pre-drafted in this file and remains available if the legal question is ever answered.\n"},"rulebook_doc":"docs/portfolios/P05_political_trades_tracker.md","mandate_file":"config/portfolios/P05_political_trades_tracker.yaml","track_record":{"has_record":false,"observations":0,"days_live":0,"inception":null,"reason":"This portfolio has not traded. Figures will appear only once a licensed price feed is connected and the first real decision cycle has run — and from that point they are permanent and unedited.","stats":null,"positions":[],"fills":[],"rejections":[]},"recent_decisions":[],"disclosure_refs":["hypothetical","not_advice","ai_generated","past_performance","costs","no_execution","jurisdiction"],"status_note":"This portfolio is retired. It is preserved unedited, it appears in every aggregate statistic on this site, and it was never deleted. It never traded: it was withdrawn before launch, so it has no results to report and contributes nothing numerically. It is published because a reader who cannot see what was withdrawn cannot judge what remains. Withdrawn before launch. The portfolio depends on congressional financial disclosure data, and 5 U.S.C. § 13107(c) makes it unlawful to use those reports for any commercial purpose other than by news and communications media for dissemination to the general public. Every existing tracker relies on that exception. Whether this site sits inside it is a question for counsel, and the operator has decided not to obtain that advice. Rather than operate on an assumption, the portfolio is retired."},{"id":"P06","slug":"intraday-ai-lab","name":"Intraday AI Lab (EXPERIMENTAL)","status":"active","is_graveyard":false,"is_tradeable":true,"experimental":true,"risk_level":"extreme","rulebook_version":"1.1.1","effective_from":"2026-08-06","mandate_hash":"bdf2808367df127254c833ed73d79473f9814b41ea5b410d3135d9ee737b0780","starting_capital_usd":{"v":100000,"src":"aiport_own_work","derived":true},"objective":"Test, in public and with realistic costs, whether an LLM given only delayed intraday data can produce positive expectancy over a session horizon, flat by the close every single day.","philosophy":"Intraday trading is where costs dominate and where an information disadvantage is largest. The model here sees data that is at minimum 15 minutes stale, pays the full spread on both sides, and pays every regulatory fee. If it still makes money, that is interesting. If it does not, that is a useful public result and the portfolio stays visible forever.","benchmarks":{"primary":"CASH_0PCT","secondary":["SPY","SGOV"]},"ai":{"role":"rank_and_explain","role_plain":"This portfolio's AI ranks candidates and explains its reasoning. It proposes direction and conviction only. Every price, quantity, weight and risk limit is computed by deterministic code the model cannot see or influence.","model_tier":"fast","prompt_version":"P06-v1","max_proposals_per_run":2,"allowed_actions":["BUY","SELL","HOLD","TIGHTEN_STOP","FLATTEN"],"cannot_do":["set a price","set a quantity or share count","set a weight or position size","set or move a risk limit","execute anything"]},"execution":{"cost_profile":"intraday_punitive","fill_convention":"vwap_window","decision_to_order_latency_seconds":90,"vwap_window_minutes":15,"note":"Fills are struck on a VWAP window that begins strictly after the decision timestamp plus a latency delay. No fill can use information from the bar in which the decision was made, so look-ahead is arithmetically impossible rather than merely avoided."},"limits":[{"group":"exposure","label":"Maximum gross exposure","value":"45.0%","enforced_by":"gate 2 — size_order"},{"group":"exposure","label":"Maximum single sector","value":"100.0%","enforced_by":"gate 2 — size_order"},{"group":"permissions","label":"Shorting","value":"prohibited","enforced_by":"gate 1 — proposal validation"},{"group":"permissions","label":"Derivatives","value":"prohibited","enforced_by":"gate 1 — proposal validation"},{"group":"permissions","label":"Margin","value":"prohibited","enforced_by":"gate 1 — proposal validation"},{"group":"sizing","label":"Minimum new position","value":"3.0%","enforced_by":"gate 2 — size_order"},{"group":"sizing","label":"Maximum order as % of ADV","value":"0.05%","enforced_by":"gate 2 — size_order"},{"group":"loss limits","label":"Daily loss limit","value":"1.5%","enforced_by":"gate 3 — HALT_DAILY_LOSS_LIMIT (halts and flattens)"},{"group":"loss limits","label":"Weekly loss limit","value":"4.0%","enforced_by":"gate 3 — HALT_WEEKLY_LOSS_LIMIT"},{"group":"loss limits","label":"Monthly loss limit","value":"8.0%","enforced_by":"gate 3 — HALT_MONTHLY_LOSS_LIMIT"},{"group":"data integrity","label":"Stale-data halt","value":"45 minutes","enforced_by":"gate 3 — HALT_STALE_DATA"},{"group":"drawdown ladder","label":"At −5.0% drawdown","value":"alert, scale_risk_budget:0.6","enforced_by":"gate 3 — drawdown ladder"},{"group":"drawdown ladder","label":"At −10.0% drawdown","value":"alert, scale_risk_budget:0.35, publish_commentary","enforced_by":"gate 3 — drawdown ladder"},{"group":"drawdown ladder","label":"At −20.0% drawdown","value":"suspend_portfolio, publish_post_mortem","enforced_by":"gate 3 — drawdown ladder"},{"group":"drawdown ladder","label":"At −30.0% drawdown","value":"graveyard","enforced_by":"gate 3 — drawdown ladder"},{"group":"turnover","label":"Max round trips per 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MON-FRI","tz":"America/New_York","decision":true},{"name":"d1100","cron":"0 11 * * MON-FRI","tz":"America/New_York","decision":true},{"name":"d1300","cron":"0 13 * * MON-FRI","tz":"America/New_York","decision":true},{"name":"d1430","cron":"30 14 * * MON-FRI","tz":"America/New_York","decision":true},{"name":"d1545","cron":"45 15 * * MON-FRI","tz":"America/New_York","decision":true},{"name":"eod_reconcile","cron":"30 16 * * MON-FRI","tz":"America/New_York","decision":false}],"data_requirements":{"intraday_prices":{"source":"primary_price_feed","bars":"15m","lookback_sessions":10,"lag_minutes":15},"daily_prices":{"source":"primary_price_feed","fields":["ohlcv_daily_60","atr14","sma20","sma50"],"lag":"t_minus_1"},"session_context":{"fields":["minutes_since_open","minutes_to_close","session_vwap","opening_range_30m","prior_close","gap_pct"]},"breadth":{"fields":["spy_ret_today","qqq_ret_today","sector_etf_ret_today"]},"earnings":{"source":"earnings_calendar","horizon_days":2},"news":{"source":["sec_8k"],"mode":"headline_and_link_only","lookback_hours":8}},"universe_summary":{"asset_classes":["us_etf","us_common_stock"],"explicit_allowlist":{"etfs":["SPY","QQQ","IWM","DIA","XLK","XLF","XLE","SMH","GLD","TLT"],"equities":["AAPL","MSFT","NVDA","AMZN","GOOGL","META","TSLA","AMD","AVGO","NFLX"]},"exclusions":["leveraged_etf","inverse_etf","everything_not_in_allowlist"],"inclusion_rules":{"min_avg_daily_dollar_volume_usd":500000000,"min_price_usd":10.0,"no_entry_on_earnings_day":true}},"retirement":null,"rulebook_doc":"docs/portfolios/P06_intraday_ai_lab.md","mandate_file":"config/portfolios/P06_intraday_ai_lab.yaml","track_record":{"has_record":true,"licence_key":"aiport_own_work","observations":2,"days_live":1,"inception":"2026-08-09T13:20:54.202157+00:00","as_of":"2026-08-10T13:45:03.182681+00:00","latest_day_change_pct":0.1262,"stats":{"observations":2,"start_nav":100000.0,"end_nav":100098.92710596013,"total_return_pct":0.0989,"max_drawdown_pct":0.0,"max_drawdown_start":null,"max_drawdown_end":null,"current_drawdown_pct":0.0,"annualised_return_pct":null,"annualised_vol_pct":null,"sharpe":null,"sortino":null,"calmar":null,"best_day_pct":0.1262,"worst_day_pct":0.1262,"positive_days_pct":100.0,"var_95_daily_pct":0.1262,"cumulative_fees_usd":0.0,"cumulative_fees_pct_of_start":0.0,"cumulative_dividends_usd":0.0,"gross_return_pct":0.0989,"cost_drag_pct":0.0,"insufficient_history":true,"note":"Fewer than 60 daily observations. Annualised return, volatility, Sharpe, Sortino and Calmar are withheld: annualising a short sample produces numbers that look precise and are not."},"nav_series":[["2026-08-09T13:20:54.202157+00:00","99972.716456800128"],["2026-08-10T13:45:03.182681+00:00","100098.927105960128"]],"positions":[{"symbol":"AMZN","quantity":"55.094395","avg_cost":"272.990970","stop_price":"266.8148","opened_at":"2026-08-06T20:06:30+00:00","weight_pct":15.11,"sector":"Consumer Discretionary"},{"symbol":"MSFT","quantity":"30.008402","avg_cost":"499.427161","stop_price":"489.8628","opened_at":"2026-08-06T20:06:30+00:00","weight_pct":14.99,"sector":"Information Technology"}],"fills":[{"ts":"2026-08-06T20:06:30+00:00","symbol":"MSFT","side":"BUY","quantity":"30.008402","fill_price":"499.427161","reference_price":"499.21","fill_convention":"next_bar_open:fallback","costs_usd":null,"run_id":"run_fb96aaa552f14507"},{"ts":"2026-08-06T20:06:30+00:00","symbol":"AMZN","side":"BUY","quantity":"55.094395","fill_price":"272.990970","reference_price":"272.87","fill_convention":"next_bar_open:fallback","costs_usd":null,"run_id":"run_fb96aaa552f14507"}],"rejections":[],"reason":""},"recent_decisions":[{"run_id":"run_a78ac207914c441f","ts":"2026-08-10T13:45:35.718303+00:00","phase":null,"model_id":null,"factpack_hash":null,"prompt_hash":null,"market_open":null,"market_view":null,"view_annotation":null,"abstain":null,"grounding_ok":null,"proposals":[],"fills":[],"halted":true,"halt_codes":["HALT_STALE_DATA"]},{"run_id":"run_fb96aaa552f14507","ts":"2026-08-09T13:20:03.564313+00:00","phase":"post_close","model_id":"claude-sonnet-4-5","factpack_hash":"48c9b07aa2b4899cffcf7dbf34307e2a470dacfb17c44be0648c6080788f4ae0","prompt_hash":"48ef8a38fb065e7d7d883d2ec5b0df76ed4d8edd2627cfd719fa08b68a63dc39","market_open":null,"market_view":"This is the portfolio's first decision, starting with 100% cash (pf.cash_pct). The mandate is experimental intraday, flat-by-close every day, operating on 15-minute delayed data with full spreads and fees. The fact pack shows end-of-day data for 2026-08-06, post-close.\n\nRecent 5-day momentum shows strong dispersion: AMZN +15.61% (px.AMZN.ret_5d), NVDA +12.28% (px.NVDA.ret_5d), MSFT +10.81% (px.MSFT.ret_5d), META +9.44% (px.META.ret_5d), AVGO +8.44% (px.AVGO.ret_5d), and GOOGL +7.22% (px.GOOGL.ret_5d) all show strong upward moves. The broad indices (SPY +3.62%, QQQ +4.55% per px.SPY.ret_5d, px.QQQ.ret_5d) also rose but less dramatically.\n\nOver 20 days the picture diverges: MSFT is exceptional at +30.05% (px.MSFT.ret_20d), AMZN +10.21% (px.AMZN.ret_20d), but many others are negative or flat. TSLA is notably weak at -21.40% over 20d (px.TSLA.ret_20d) and -28.20% over 60d (px.TSLA.ret_60d). META is down -6.58% over 20d (px.META.ret_20d) despite the recent 5d bounce. SMH is -5.96% over 20d (px.SMH.ret_20d). AMD is -10.51% over 20d (px.AMD.ret_20d) but +0.80% over 5d (px.AMD.ret_5d).\n\nMSFT stands out as the strongest performer across both short and intermediate horizons with 30% over 20d and 21.13% over 60d (px.MSFT.ret_60d, px.MSFT.ret_20d). Realized volatility is elevated but not extreme at 3.73% daily (px.MSFT.vol_daily_pct), with ATR of 18.00 (px.MSFT.atr14) on a close of 499.86 (px.MSFT.close), approximately 3.6%. This is large cap liquid with 17B daily dollar volume (px.MSFT.adv_usd).\n\nAMZN has strong 5d (+15.61%) and 20d (+10.21%) returns (px.AMZN.ret_5d, px.AMZN.ret_20d) but only +1.22% over 60d (px.AMZN.ret_60d). Volatility 3.98% daily (px.AMZN.vol_daily_pct), slightly higher than MSFT.\n\nFor an intraday flat-by-close strategy with stale data and high costs, I need to identify setups where momentum is likely to persist intraday rather than reverse. The mandate's extreme risk tolerance suggests testing concentrated positions. However, since this is post-close and we must enter at tomorrow's open and exit by tomorrow's close, the question is whether tonight's after-hours or tomorrow's session will continue today's trends.\n\nThe strongest case is MSFT given its 30% 20-day surge and continued 5-day momentum of +10.81%. The 60-day return of +21.13% suggests sustained strength rather than a one-day spike. Counter-argument: the 20d move is large enough that mean reversion risk is significant, and we're entering on delayed data after the market already priced this in.\n\nAMZN's 15.61% 5-day move is dramatic but came after relatively flat 60d performance (+1.22%), suggesting this may be a breakout or event-driven. This is riskier for intraday continuation.\n\nGiven the intraday nature and cost headwinds, I am inclined toward a single high-conviction position rather than splitting across two names. However, the mandate allows up to 2 proposals, and diversifying between MSFT (sustained strength) and AMZN (breakout momentum) could test different momentum regimes.\n\nRisk of wrong: if today's gains were end-of-day short covering or option expiry effects, tomorrow could gap down or chop. The 15-minute delay means we'll be entering after any opening momentum is visible to others. The full round-trip spread and fees create a high bar.","view_annotation":"unavailable","abstain":false,"grounding_ok":true,"proposals":[{"symbol":"MSFT","action":"BUY","conviction":4,"target_weight_pct":null,"accepted":true,"codes":[]},{"symbol":"AMZN","action":"BUY","conviction":3,"target_weight_pct":null,"accepted":true,"codes":[]}],"fills":[{"symbol":"MSFT","side":"BUY","quantity":"30.008402","fill_price":"499.427161"},{"symbol":"AMZN","side":"BUY","quantity":"55.094395","fill_price":"272.990970"}],"halted":false,"halt_codes":[]},{"run_id":"run_052e2f67b3564d67","ts":"2026-08-09T13:16:32.683541+00:00","phase":"post_close","model_id":"claude-sonnet-4-5","factpack_hash":"f01afa0db9c0b009fdcb8f55a70b552f13c9e286dad8691498ec209962ce1cba","prompt_hash":"48ef8a38fb065e7d7d883d2ec5b0df76ed4d8edd2627cfd719fa08b68a63dc39","market_open":null,"market_view":null,"view_annotation":null,"abstain":null,"grounding_ok":null,"proposals":[],"fills":[],"halted":false,"halt_codes":[]},{"run_id":"run_9ad5366b1e1e450a","ts":"2026-08-09T12:35:02.034528+00:00","phase":"post_close","model_id":"claude-sonnet-4-5","factpack_hash":"c016c9536b3e03ed82171bdaf459495bbcf59e4393a2a5b3b83116e1faa8fcd3","prompt_hash":"48ef8a38fb065e7d7d883d2ec5b0df76ed4d8edd2627cfd719fa08b68a63dc39","market_open":null,"market_view":null,"view_annotation":null,"abstain":null,"grounding_ok":null,"proposals":[],"fills":[],"halted":false,"halt_codes":[]}],"disclosure_refs":["hypothetical","not_advice","ai_generated","past_performance","costs","no_execution","jurisdiction"],"status_note":"EXPERIMENTAL. This portfolio takes deliberately extreme risk under a tightly constrained risk budget, on the shortest horizon on the platform. It is expected to be among the most likely to reach the Graveyard, and it is published for exactly that reason.                          # renders a permanent warning banner"},{"id":"P07","slug":"claude-discretionary","name":"Claude Discretionary","status":"active","is_graveyard":false,"is_tradeable":true,"experimental":true,"risk_level":"high","rulebook_version":"1.2.1","effective_from":"2026-08-06","mandate_hash":"d46cec952b8f5c68b2a48979296ea777c5da966c8880b659fbb54db0374fee7e","starting_capital_usd":{"v":100000,"src":"aiport_own_work","derived":true},"objective":"Test, in public and with realistic execution costs, whether a large language model given a broad liquid universe and no style constraint can select equities that outperform a passive benchmark over a multi-year horizon.","philosophy":"Every other mandate on this platform encodes a human thesis and asks the model to work inside it. This one removes the thesis. The universe is wide, the holding period is unconstrained, and no factor, sector or style is preferred by the rules. What remains binding is risk: position caps, a drawdown ladder, turnover limits and stops, all deterministic. If the model has any selection skill, this is where it shows up; if it has none, this is where that becomes undeniable, and the record will say so either way.","benchmarks":{"primary":"SPY","secondary":["RSP","QQQ","P02_AI_SWING_TRADER"]},"ai":{"role":"rank_and_explain","role_plain":"This portfolio's AI ranks candidates and explains its reasoning. It proposes direction and conviction only. Every price, quantity, weight and risk limit is computed by deterministic code the model cannot see or influence.","model_tier":"deep","prompt_version":"P07-v1","max_proposals_per_run":6,"allowed_actions":["BUY","ADD","TRIM","SELL","HOLD","TIGHTEN_STOP","FLAG_THESIS_BREAK"],"cannot_do":["set a price","set a quantity or share count","set a weight or position size","set or move a risk limit","execute anything"]},"execution":{"cost_profile":"zero_commission_us","fill_convention":"vwap_window","decision_to_order_latency_seconds":60,"vwap_window_minutes":15,"note":"Fills are struck on a VWAP window that begins strictly after the decision timestamp plus a latency delay. No fill can use information from the bar in which the decision was made, so look-ahead is arithmetically impossible rather than merely avoided."},"limits":[{"group":"exposure","label":"Maximum gross exposure","value":"100.0%","enforced_by":"gate 2 — size_order"},{"group":"exposure","label":"Maximum single sector","value":"35.0%","enforced_by":"gate 2 — size_order"},{"group":"permissions","label":"Shorting","value":"prohibited","enforced_by":"gate 1 — proposal validation"},{"group":"permissions","label":"Derivatives","value":"prohibited","enforced_by":"gate 1 — proposal validation"},{"group":"permissions","label":"Margin","value":"prohibited","enforced_by":"gate 1 — proposal validation"},{"group":"permissions","label":"Leverage","value":"prohibited","enforced_by":"gate 1 — proposal validation"},{"group":"sizing","label":"Minimum new position","value":"2.0%","enforced_by":"gate 2 — size_order"},{"group":"sizing","label":"Maximum order as % of ADV","value":"0.5%","enforced_by":"gate 2 — size_order"},{"group":"loss limits","label":"Monthly loss limit","value":"15.0%","enforced_by":"gate 3 — HALT_MONTHLY_LOSS_LIMIT"},{"group":"loss limits","label":"Single-day loss alert","value":"6.0%","enforced_by":"gate 3 — alert"},{"group":"data integrity","label":"Stale-data halt","value":"36 hours","enforced_by":"gate 3 — HALT_STALE_DATA"},{"group":"drawdown ladder","label":"At −12.0% drawdown","value":"alert, publish_commentary","enforced_by":"gate 3 — drawdown ladder"},{"group":"drawdown ladder","label":"At −20.0% drawdown","value":"alert, pause_new_positions_days:10, mandatory_deep_review","enforced_by":"gate 3 — drawdown ladder"},{"group":"drawdown ladder","label":"At −30.0% drawdown","value":"alert, pause_new_positions_days:30, publish_commentary","enforced_by":"gate 3 — drawdown ladder"},{"group":"drawdown ladder","label":"At −45.0% drawdown","value":"suspend_portfolio, graveyard_review","enforced_by":"gate 3 — drawdown ladder"},{"group":"turnover","label":"Max trades per month","value":20,"enforced_by":"entry block — PAUSE_TURNOVER_CAP_REACHED (never blocks an exit)"},{"group":"turnover","label":"Min holding period days","value":5,"enforced_by":"entry block — PAUSE_TURNOVER_CAP_REACHED (never blocks an exit)"},{"group":"circuit breakers","label":"Halt trading if price gap unexplained pct","value":25.0,"enforced_by":"gate 3 — circuit breaker"},{"group":"circuit breakers","label":"Halt trading if factpack hash mismatch","value":true,"enforced_by":"gate 3 — circuit breaker"}],"mandatory_disclosures":["The instrument selection in this portfolio is made by a large language model with no style mandate constraining it. Position sizes, stop levels and every risk limit are computed by deterministic code the model cannot see or influence.\n","This portfolio is labelled EXPERIMENTAL from inception. It is a test of whether a language model can select equities at all, and it may fail. It was labelled experimental before any result was known, not afterwards.\n","The model identity and prompt version are published, and any change to either is recorded as a MODEL_CHANGE event in the audit chain. Comparing results across a model change without accounting for it would be comparing two different systems.\n","Its deterministic baseline shadow is published alongside it. If a five-line momentum rule beats this portfolio, that comparison appears on the same page and is not footnoted away.\n"],"review_schedule":[{"name":"weekly_selection","cron":"0 12 * * SUN","tz":"America/New_York","decision":true},{"name":"monthly_review","cron":"0 12 1 * *","tz":"America/New_York","decision":true}],"data_requirements":{"prices":{"source":"primary_price_feed","fields":["close","ohlc","adv60","atr14","vol_30d","market_cap"],"lag":"t_minus_1"},"fundamentals":{"source":"sec_xbrl","point_in_time":true,"fields":["revenue","net_income","operating_cash_flow","capex","total_debt","shares_outstanding"]},"corporate_actions":{"source":["ca_primary","ca_crosscheck"],"lookback_days":90},"news":{"source":["sec_8k","issuer_ir_rss","gdelt_links"],"mode":"headline_and_link_only","lookback_days":14},"macro":{"source":"fred","series":["DGS10","DGS2","T10Y2Y","CPIAUCSL","UNRATE"]},"identifier_mapping":{"source":"openfigi","publish_cusip":false}},"universe_summary":{"asset_classes":["us_common_stock","us_etf","cash_equivalent"],"exclusions":["leveraged_etf","inverse_etf","otc_and_pink_sheets","instruments_without_resolvable_figi","anything_not_in_the_published_eligible_set"],"inclusion_rules":{"index_membership_any_of":["SP500","NDX","RUI"],"plus_named_etfs":["SPY","QQQ","IWM","DIA","RSP","XLK","XLF","XLE","XLV","XLI","XLY","XLP","XLU","XLB","XLRE","XLC","SMH","GLD","TLT","HYG","EEM","EFA"],"min_avg_daily_dollar_volume_usd":25000000,"min_price_usd":5.0,"min_market_cap_usd":2000000000,"min_listing_history_days":365},"cash_equivalents":["SGOV"]},"retirement":null,"rulebook_doc":"docs/portfolios/P07_claude_discretionary.md","mandate_file":"config/portfolios/P07_claude_discretionary.yaml","track_record":{"has_record":true,"licence_key":"aiport_own_work","observations":1,"days_live":0,"inception":"2026-08-09T12:35:14.842088+00:00","as_of":"2026-08-09T12:35:14.842088+00:00","latest_day_change_pct":null,"stats":{"observations":1,"start_nav":100000.0,"end_nav":100000.0,"total_return_pct":0.0,"max_drawdown_pct":0.0,"max_drawdown_start":null,"max_drawdown_end":null,"current_drawdown_pct":0.0,"annualised_return_pct":null,"annualised_vol_pct":null,"sharpe":null,"sortino":null,"calmar":null,"best_day_pct":null,"worst_day_pct":null,"positive_days_pct":null,"var_95_daily_pct":null,"cumulative_fees_usd":0.0,"cumulative_fees_pct_of_start":0.0,"cumulative_dividends_usd":0.0,"gross_return_pct":0.0,"cost_drag_pct":0.0,"insufficient_history":true,"note":"Fewer than two NAV observations. No statistics are meaningful yet."},"nav_series":[["2026-08-09T12:35:14.842088+00:00","100000"]],"positions":[],"fills":[],"rejections":[],"reason":""},"recent_decisions":[{"run_id":"run_0c2fdc82b18b4f16","ts":"2026-08-09T12:35:02.568015+00:00","phase":"post_close","model_id":"claude-sonnet-4-5","factpack_hash":"5f8864510b8ac754ed1e9a81eec3493eb9251c7115bf758f485f3b70ac6ba9ef","prompt_hash":"8d242cc61cf84fbdbdf723046fd902e2c306c27ba71ef8514b6a858afca638c2","market_open":null,"market_view":"The fact pack for P07 Claude Discretionary is structurally deficient for decision-making. As of 2026-08-06, the portfolio holds 100% cash (pf.cash_pct = 100 pct, pf.cash = 100,000 USD) with zero positions (pf.position_count = 0 count) at inception (pf.starting_capital = 100,000 USD, pf.total_return_pct = 0 pct). However, the ELIGIBLE SYMBOLS list contains zero tickers, making it impossible to propose any BUY or other equity actions. The mandate requires a broad liquid universe for discretionary selection, but none has been provided. Without price data, fundamental metrics, sector information, volatility measures, or any market context beyond portfolio ledger entries, no investment thesis can be evaluated. The absence of eligible symbols is a critical data gap: I cannot rank opportunities that do not exist in the fact pack. This is not a market condition requiring patience; it is a structural absence of the input necessary to fulfill the mandate. Abstaining is the only compliant response.","view_annotation":"unavailable","abstain":true,"grounding_ok":true,"proposals":[],"fills":[],"halted":false,"halt_codes":[]}],"disclosure_refs":["hypothetical","not_advice","ai_generated","past_performance","costs","no_execution","jurisdiction"],"status_note":"EXPERIMENTAL. This portfolio is not experimental because of the risk it takes; it is experimental because of what it is testing. Every other mandate here hands the model a thesis to work inside. This one removes the thesis and lets the model select freely, to find out whether a language model can pick equities at all. The answer may well be no, and that is a publishable result. It was labelled experimental before any result was known, not afterwards."},{"id":"P08","slug":"learning-book","name":"The Learning Book","status":"active","is_graveyard":false,"is_tradeable":true,"experimental":true,"risk_level":"high","rulebook_version":"1.2.1","effective_from":"2026-08-06","mandate_hash":"ce1726a1897030c77934db82d24a537dc7faa5254114225a76420ec79f44fb89","starting_capital_usd":{"v":100000,"src":"aiport_own_work","derived":true},"objective":"Test whether a language model that can see this platform's own realised trading record — every closed trade, its cost, its holding period, its exit reason and its outcome — selects better than the same model without that record. Success is measured against the other AI portfolios, not only against an index.","philosophy":"Most published trading systems never look at their own history in a form that could embarrass them. This one is handed exactly that: a point-in-time scoreboard including the losses, the cost drag, the trades the risk engine refused, and the deterministic baseline's record next to the AI's. The wager is not that a language model is a good stock picker. It is that a language model given an honest account of what has already failed will make fewer of the same mistakes — and if it does not, the record will show that too, on the same page, in the same detail.","benchmarks":{"primary":"SPY","secondary":["RSP","P07_CLAUDE_DISCRETIONARY","P02_AI_SWING_TRADER","PLATFORM_EQUAL_WEIGHT"]},"ai":{"role":"rank_and_explain","role_plain":"This portfolio's AI ranks candidates and explains its reasoning. It proposes direction and conviction only. Every price, quantity, weight and risk limit is computed by deterministic code the model cannot see or influence.","model_tier":"deep","prompt_version":"P08-v1","max_proposals_per_run":6,"allowed_actions":["BUY","ADD","TRIM","SELL","HOLD","TIGHTEN_STOP","FLAG_THESIS_BREAK"],"cannot_do":["set a price","set a quantity or share count","set a weight or position size","set or move a risk limit","execute anything"]},"execution":{"cost_profile":"zero_commission_us","fill_convention":"vwap_window","decision_to_order_latency_seconds":60,"vwap_window_minutes":15,"note":"Fills are struck on a VWAP window that begins strictly after the decision timestamp plus a latency delay. No fill can use information from the bar in which the decision was made, so look-ahead is arithmetically impossible rather than merely avoided."},"limits":[{"group":"exposure","label":"Maximum gross exposure","value":"100.0%","enforced_by":"gate 2 — size_order"},{"group":"exposure","label":"Maximum single sector","value":"35.0%","enforced_by":"gate 2 — size_order"},{"group":"permissions","label":"Shorting","value":"prohibited","enforced_by":"gate 1 — proposal validation"},{"group":"permissions","label":"Derivatives","value":"prohibited","enforced_by":"gate 1 — proposal validation"},{"group":"permissions","label":"Margin","value":"prohibited","enforced_by":"gate 1 — proposal validation"},{"group":"permissions","label":"Leverage","value":"prohibited","enforced_by":"gate 1 — proposal validation"},{"group":"sizing","label":"Minimum new position","value":"2.0%","enforced_by":"gate 2 — size_order"},{"group":"sizing","label":"Maximum order as % of ADV","value":"0.5%","enforced_by":"gate 2 — size_order"},{"group":"loss limits","label":"Monthly loss limit","value":"15.0%","enforced_by":"gate 3 — HALT_MONTHLY_LOSS_LIMIT"},{"group":"loss limits","label":"Single-day loss alert","value":"6.0%","enforced_by":"gate 3 — alert"},{"group":"data integrity","label":"Stale-data halt","value":"36 hours","enforced_by":"gate 3 — HALT_STALE_DATA"},{"group":"drawdown ladder","label":"At −12.0% drawdown","value":"alert, publish_commentary","enforced_by":"gate 3 — drawdown ladder"},{"group":"drawdown ladder","label":"At −20.0% drawdown","value":"alert, pause_new_positions_days:10, mandatory_deep_review","enforced_by":"gate 3 — drawdown ladder"},{"group":"drawdown ladder","label":"At −30.0% drawdown","value":"alert, pause_new_positions_days:30, publish_commentary","enforced_by":"gate 3 — drawdown ladder"},{"group":"drawdown ladder","label":"At −45.0% drawdown","value":"suspend_portfolio, graveyard_review","enforced_by":"gate 3 — drawdown ladder"},{"group":"turnover","label":"Max trades per month","value":20,"enforced_by":"entry block — PAUSE_TURNOVER_CAP_REACHED (never blocks an exit)"},{"group":"turnover","label":"Min holding period days","value":5,"enforced_by":"entry block — PAUSE_TURNOVER_CAP_REACHED (never blocks an exit)"},{"group":"circuit breakers","label":"Halt trading if price gap unexplained pct","value":25.0,"enforced_by":"gate 3 — circuit breaker"},{"group":"circuit breakers","label":"Halt trading if factpack hash mismatch","value":true,"enforced_by":"gate 3 — circuit breaker"}],"mandatory_disclosures":["This portfolio reads the platform's own realised trading record as an input. Nothing about the model is trained, fine-tuned or updated — \"learning\" here means the model is shown a point-in-time scoreboard and reasons about it in the same pass that produces its proposals.\n","The record it reads contains only outcomes that had already occurred at the decision timestamp. A trade whose exit came later does not exist to it. This is enforced at the data boundary and asserted by a test, because a portfolio that learns from the future would look like skill and be nothing of the kind.\n","Retired portfolios are included in what it learns from. Learning only from the portfolios still running would be survivorship bias one level down, where it is much harder for a reader to see.\n","Overlap with every other portfolio is published on every run, breach or not. A portfolio that learns what worked elsewhere is structurally prone to converging on it, and a leaderboard row that is really a re-weighting of the other rows would not be an independent result.\n","P07 runs the same model over the same universe with the same rails and WITHOUT this record. It is the control. If P08 does not beat P07, the Experience Pack is not adding value, and that comparison is published on this page whichever way it goes.\n"],"review_schedule":[{"name":"weekly_selection","cron":"0 12 * * SUN","tz":"America/New_York","decision":true},{"name":"monthly_review","cron":"0 12 1 * *","tz":"America/New_York","decision":true}],"data_requirements":{"prices":{"source":"primary_price_feed","fields":["close","ohlc","adv60","atr14","vol_30d","market_cap"],"lag":"t_minus_1"},"fundamentals":{"source":"sec_xbrl","point_in_time":true,"fields":["revenue","net_income","operating_cash_flow","capex","total_debt","shares_outstanding"]},"corporate_actions":{"source":["ca_primary","ca_crosscheck"],"lookback_days":90},"news":{"source":["sec_8k","issuer_ir_rss","gdelt_links"],"mode":"headline_and_link_only","lookback_days":14},"macro":{"source":"fred","series":["DGS10","DGS2","T10Y2Y","CPIAUCSL","UNRATE"]},"identifier_mapping":{"source":"openfigi","publish_cusip":false},"platform_experience":{"source":"internal_audit_log","point_in_time":true,"as_of_required":true}},"universe_summary":{"asset_classes":["us_common_stock","us_etf","cash_equivalent"],"exclusions":["leveraged_etf","inverse_etf","otc_and_pink_sheets","instruments_without_resolvable_figi"],"inclusion_rules":{"index_membership_any_of":["SP500","NDX","RUI"],"plus_named_etfs":["SPY","QQQ","IWM","DIA","RSP","XLK","XLF","XLE","XLV","XLI","XLY","XLP","XLU","XLB","XLRE","XLC","SMH","GLD","TLT","HYG","EEM","EFA"],"min_avg_daily_dollar_volume_usd":25000000,"min_price_usd":5.0,"min_market_cap_usd":2000000000,"min_listing_history_days":365},"cash_equivalents":["SGOV"]},"retirement":null,"rulebook_doc":"docs/portfolios/P08_learning_book.md","mandate_file":"config/portfolios/P08_learning_book.yaml","track_record":{"has_record":true,"licence_key":"aiport_own_work","observations":1,"days_live":0,"inception":"2026-08-09T12:35:28.061447+00:00","as_of":"2026-08-09T12:35:28.061447+00:00","latest_day_change_pct":null,"stats":{"observations":1,"start_nav":100000.0,"end_nav":100000.0,"total_return_pct":0.0,"max_drawdown_pct":0.0,"max_drawdown_start":null,"max_drawdown_end":null,"current_drawdown_pct":0.0,"annualised_return_pct":null,"annualised_vol_pct":null,"sharpe":null,"sortino":null,"calmar":null,"best_day_pct":null,"worst_day_pct":null,"positive_days_pct":null,"var_95_daily_pct":null,"cumulative_fees_usd":0.0,"cumulative_fees_pct_of_start":0.0,"cumulative_dividends_usd":0.0,"gross_return_pct":0.0,"cost_drag_pct":0.0,"insufficient_history":true,"note":"Fewer than two NAV observations. No statistics are meaningful yet."},"nav_series":[["2026-08-09T12:35:28.061447+00:00","100000"]],"positions":[],"fills":[],"rejections":[],"reason":""},"recent_decisions":[{"run_id":"run_05d5ae2c8b344d85","ts":"2026-08-09T12:35:14.934578+00:00","phase":"post_close","model_id":"claude-sonnet-4-5","factpack_hash":"0d20c551227467cc795e809d13f9dca9b4c03cb4b409151875af0ae50c46bb94","prompt_hash":"faff868b1c11c352e1980dae18c5094199a2c8568db342a88698d716545c48b3","market_open":null,"market_view":"As of 2026-08-06, The Learning Book (P08) portfolio is in its initial state with 100% cash (pf.cash_pct) and no positions (pf.position_count). The portfolio has 0 closed trades platform-wide (xp.platform.count), 0 open positions (xp.platform.open_positions), and 0 portfolios with closed trades (xp.platform.portfolios). There are 0 eligible symbols available for trading and no currently held positions. The experience base is explicitly flagged as low confidence (xp.platform.low_confidence) with a minimum threshold of 30 closed trades required for statistical confidence (xp.platform.min_trades). All experience metrics across holding periods (0-5d, 6-20d, 21-60d, over 60d) and exit reasons (stop, target, mandate forced, scheduled, discretionary, other) show zero trades and low confidence flags. No repeated symbols have been emitted or suppressed (xp.sym.emitted, xp.sym.suppressed). The platform notes explicitly state that there is no experience to learn from yet, and any pattern asserted would be invented rather than observed. With zero eligible securities to trade and zero trading history from which to extract lessons, there is no actionable investment universe and no empirical foundation upon which to base selection decisions.","view_annotation":"unavailable","abstain":true,"grounding_ok":false,"proposals":[],"fills":[],"halted":false,"halt_codes":[]}],"disclosure_refs":["hypothetical","not_advice","ai_generated","past_performance","costs","no_execution","jurisdiction"],"status_note":"EXPERIMENTAL. This portfolio learns from the realised outcomes of the other portfolios on this platform. That is a genuinely interesting idea and also the easiest one here to do dishonestly, so it ships labelled experimental with its failure modes written down in advance rather than discovered later. It has no track record, no evidence of skill, and nothing to learn from yet."},{"id":"P09","slug":"crypto-24-7","name":"Crypto 24/7 (EXPERIMENTAL)","status":"active","is_graveyard":false,"is_tradeable":true,"experimental":true,"risk_level":"extreme","rulebook_version":"1.1.0","effective_from":"2026-08-10","mandate_hash":"8799bacea0ae80fe540aca2474776381466b525f1227ab90c95a16a8f680e958","starting_capital_usd":{"v":100000,"src":"aiport_own_work","derived":true},"objective":"Test, in public and with realistic entry-tier retail costs, whether an LLM given delayed venue data can produce positive expectancy trading spot crypto majors on a 24/7 cadence, across weekends and through full crypto volatility regimes.","philosophy":"Crypto never closes, so neither does the risk. This portfolio holds positions overnight and through weekends — unlike the Intraday AI Lab it is a swing book on a continuous market, not a flat-by-close experiment. What is constrained is concentration and loss per period: deterministic caps, mandatory stops sized off realised range, and a volatility regime the AI cannot override. Spot only. No leverage, no staking, no yield, no wrapped or synthetic assets.","benchmarks":{"primary":"BTC_SPOT","secondary":["50_50_BTC_SPY","CASH_0PCT"]},"ai":{"role":"rank_and_explain","role_plain":"This portfolio's AI ranks candidates and explains its reasoning. It proposes direction and conviction only. Every price, quantity, weight and risk limit is computed by deterministic code the model cannot see or influence.","model_tier":"fast","prompt_version":"P09-v1","max_proposals_per_run":3,"allowed_actions":["BUY","ADD","TRIM","SELL","HOLD","TIGHTEN_STOP"],"cannot_do":["set a price","set a quantity or share count","set a weight or position size","set or move a risk limit","execute anything"]},"execution":{"cost_profile":"crypto_retail_punitive","fill_convention":"vwap_window","decision_to_order_latency_seconds":90,"vwap_window_minutes":15,"note":"Fills are struck on a VWAP window that begins strictly after the decision timestamp plus a latency delay. No fill can use information from the bar in which the decision was made, so look-ahead is arithmetically impossible rather than merely avoided."},"limits":[{"group":"exposure","label":"Maximum gross exposure","value":"95.0%","enforced_by":"gate 2 — size_order"},{"group":"exposure","label":"Maximum single sector","value":"100.0%","enforced_by":"gate 2 — size_order"},{"group":"permissions","label":"Shorting","value":"prohibited","enforced_by":"gate 1 — proposal validation"},{"group":"permissions","label":"Derivatives","value":"prohibited","enforced_by":"gate 1 — proposal validation"},{"group":"permissions","label":"Margin","value":"prohibited","enforced_by":"gate 1 — proposal validation"},{"group":"permissions","label":"Leverage","value":"prohibited","enforced_by":"gate 1 — proposal validation"},{"group":"sizing","label":"Maximum positions","value":6,"enforced_by":"gate 2 — size_order"},{"group":"sizing","label":"Minimum new position","value":"2.0%","enforced_by":"gate 2 — size_order"},{"group":"sizing","label":"Maximum order as % of ADV","value":"0.5%","enforced_by":"gate 2 — size_order"},{"group":"loss limits","label":"Daily loss limit","value":"4.0%","enforced_by":"gate 3 — HALT_DAILY_LOSS_LIMIT (halts and flattens)"},{"group":"loss limits","label":"Weekly loss limit","value":"10.0%","enforced_by":"gate 3 — HALT_WEEKLY_LOSS_LIMIT"},{"group":"loss limits","label":"Monthly loss limit","value":"20.0%","enforced_by":"gate 3 — HALT_MONTHLY_LOSS_LIMIT"},{"group":"data integrity","label":"Stale-data halt","value":"2 hours","enforced_by":"gate 3 — HALT_STALE_DATA"},{"group":"drawdown ladder","label":"At −20.0% drawdown","value":"alert, publish_commentary","enforced_by":"gate 3 — drawdown ladder"},{"group":"drawdown ladder","label":"At −35.0% drawdown","value":"alert, scale_risk_budget:0.5, pause_new_positions_days:5","enforced_by":"gate 3 — drawdown ladder"},{"group":"drawdown ladder","label":"At −50.0% drawdown","value":"suspend_portfolio, publish_post_mortem","enforced_by":"gate 3 — drawdown ladder"},{"group":"drawdown ladder","label":"At −70.0% drawdown","value":"graveyard_review","enforced_by":"gate 3 — drawdown ladder"},{"group":"turnover","label":"Max round trips per week","value":15,"enforced_by":"entry block — PAUSE_TURNOVER_CAP_REACHED (never blocks an exit)"},{"group":"turnover","label":"Max trades per month","value":40,"enforced_by":"entry block — PAUSE_TURNOVER_CAP_REACHED (never blocks an exit)"},{"group":"circuit breakers","label":"Halt trading if price gap unexplained pct","value":40.0,"enforced_by":"gate 3 — circuit breaker"},{"group":"circuit breakers","label":"Halt trading if venue price divergence bps above","value":300,"enforced_by":"gate 3 — circuit breaker"},{"group":"circuit breakers","label":"Halt trading if factpack hash mismatch","value":true,"enforced_by":"gate 3 — circuit breaker"}],"mandatory_disclosures":[],"review_schedule":[{"name":"d0100","cron":"0 1 * * *","tz":"America/New_York","decision":true},{"name":"d0700","cron":"0 7 * * *","tz":"America/New_York","decision":true},{"name":"d1300","cron":"0 13 * * *","tz":"America/New_York","decision":true},{"name":"d1900","cron":"0 19 * * *","tz":"America/New_York","decision":true}],"data_requirements":{"crypto_prices":{"primary":"coinbase_advanced_public","crosscheck":"coingecko_demo","fields":["close","ohlcv_15m","ohlcv_1d","vol_30d","volume_30d_usd","market_cap"],"attribution_required":"Powered by CoinGecko","lag_note":"The model sees the latest COMPLETED venue candle, never an in-progress one, and fills price from candles strictly after the decision instant.\n"},"macro":{"source":"fred","series":["DGS10","DTWEXBGS","FEDFUNDS"]}},"universe_summary":{"asset_classes":["crypto_spot"],"explicit_allowlist":{"etfs":[],"equities":[]},"exclusions":["stablecoins","meme_tokens_without_2y_history","staking_and_yield_products","wrapped_or_synthetic_assets","leveraged_tokens","anything_not_spot","everything_not_in_allowlist"],"inclusion_rules":{"must_be_tradeable_on":["COINBASE_ADVANCED"],"min_market_cap_usd":10000000000,"min_30d_avg_daily_volume_usd":300000000,"min_price_history_days":730}},"retirement":null,"rulebook_doc":"docs/portfolios/P09_crypto_24_7.md","mandate_file":"config/portfolios/P09_crypto_24_7.yaml","track_record":{"has_record":false,"observations":0,"days_live":0,"inception":null,"reason":"This portfolio has not traded. Figures will appear only once a licensed price feed is connected and the first real decision cycle has run — and from that point they are permanent and unedited.","stats":null,"positions":[],"fills":[],"rejections":[]},"recent_decisions":[],"disclosure_refs":["hypothetical","not_advice","ai_generated","past_performance","costs","no_execution","jurisdiction"],"status_note":"EXPERIMENTAL. This portfolio trades the most volatile asset class on the platform on a round-the-clock cadence, paying entry-tier retail crypto costs that are 20-50x equity costs. The prior is that costs and volatility eat the edge. Publishing the attempt honestly, including its likely failure, is the point."}],"leaderboard":{"live":[{"id":"P02","slug":"ai-swing-trader","name":"AI Swing Trader","status":"active","is_graveyard":false,"experimental":false,"risk_level":"high","has_record":true,"days_live":0,"observations":2,"fills_count":4,"total_return_pct":0.2419,"max_drawdown_pct":0.0,"max_drawdown_window":null,"annualised_return_pct":null,"sharpe":null,"insufficient_history":true},{"id":"P06","slug":"intraday-ai-lab","name":"Intraday AI Lab (EXPERIMENTAL)","status":"active","is_graveyard":false,"experimental":true,"risk_level":"extreme","has_record":true,"days_live":1,"observations":2,"fills_count":2,"total_return_pct":0.0989,"max_drawdown_pct":0.0,"max_drawdown_window":null,"annualised_return_pct":null,"sharpe":null,"insufficient_history":true},{"id":"P01","slug":"long-term-compounders","name":"Long-Term Compounders","status":"active","is_graveyard":false,"experimental":false,"risk_level":"moderate","has_record":true,"days_live":0,"observations":1,"fills_count":0,"total_return_pct":0.0,"max_drawdown_pct":0.0,"max_drawdown_window":null,"annualised_return_pct":null,"sharpe":null,"insufficient_history":true},{"id":"P03","slug":"billionaire-consensus","name":"Billionaire Consensus","status":"active","is_graveyard":false,"experimental":false,"risk_level":"moderate","has_record":true,"days_live":0,"observations":1,"fills_count":0,"total_return_pct":0.0,"max_drawdown_pct":0.0,"max_drawdown_window":null,"annualised_return_pct":null,"sharpe":null,"insufficient_history":true},{"id":"P04","slug":"digital-assets-equities","name":"Digital Assets & Equities","status":"active","is_graveyard":false,"experimental":false,"risk_level":"very_high","has_record":true,"days_live":0,"observations":1,"fills_count":0,"total_return_pct":0.0,"max_drawdown_pct":0.0,"max_drawdown_window":null,"annualised_return_pct":null,"sharpe":null,"insufficient_history":true},{"id":"P07","slug":"claude-discretionary","name":"Claude Discretionary","status":"active","is_graveyard":false,"experimental":true,"risk_level":"high","has_record":true,"days_live":0,"observations":1,"fills_count":0,"total_return_pct":0.0,"max_drawdown_pct":0.0,"max_drawdown_window":null,"annualised_return_pct":null,"sharpe":null,"insufficient_history":true},{"id":"P08","slug":"learning-book","name":"The Learning Book","status":"active","is_graveyard":false,"experimental":true,"risk_level":"high","has_record":true,"days_live":0,"observations":1,"fills_count":0,"total_return_pct":0.0,"max_drawdown_pct":0.0,"max_drawdown_window":null,"annualised_return_pct":null,"sharpe":null,"insufficient_history":true},{"id":"P09","slug":"crypto-24-7","name":"Crypto 24/7 (EXPERIMENTAL)","status":"active","is_graveyard":false,"experimental":true,"risk_level":"extreme","has_record":false,"days_live":0,"observations":0,"fills_count":0,"total_return_pct":null,"max_drawdown_pct":null,"max_drawdown_window":null,"annualised_return_pct":null,"sharpe":null,"insufficient_history":true}],"graveyard":[{"id":"P05","slug":"political-trades-tracker","name":"Political Trades Tracker","status":"graveyard","is_graveyard":true,"experimental":false,"risk_level":"high","has_record":false,"days_live":0,"observations":0,"fills_count":0,"total_return_pct":null,"max_drawdown_pct":null,"max_drawdown_window":null,"annualised_return_pct":null,"sharpe":null,"insufficient_history":true}],"aggregate":{"portfolios_total":9,"portfolios_live":8,"portfolios_retired":1,"portfolios_with_a_record":7,"portfolios_traded":2,"total_fills":6,"includes_graveyard":true,"mean_total_return_pct":0.0487,"note":"Every site-wide aggregate on this site includes retired portfolios. A portfolio can be retired but never removed, and removing a loser from an average is the single most common way a track record is made to lie."},"display_rules":["Sorted by total return, with maximum drawdown shown in the same row at equal visual weight. A leaderboard that ranks on return alone teaches the wrong lesson.","Days live is shown for every entry. A portfolio twenty days old sits next to one five hundred days old and the difference must be visible instantly.","No annualised figure is shown below 60 observations. Annualising a short sample produces a number that looks precise and is not.","Retired portfolios appear below the live ones, present and included in every aggregate."]},"benchmarks":{"per_portfolio":{"P06":{"symbol":"CASH_0PCT","return_pct":{"v":0.0,"src":"aiport_own_work","derived":true},"note":"cash at 0% — the benchmark is a convention"}}},"latest_decision":{"portfolio_id":"P06","portfolio_name":"Intraday AI Lab (EXPERIMENTAL)","slug":"intraday-ai-lab","ts":"2026-08-09T13:20:03.564313+00:00","run_id":"run_fb96aaa552f14507","action":"BUY","symbol":"MSFT","conviction":4,"target_weight_pct":null,"filled":true,"model_id":"claude-sonnet-4-5"},"graveyard":{"entries":[{"id":"P05","slug":"political-trades-tracker","name":"Political Trades Tracker","status":"graveyard","is_graveyard":true,"is_tradeable":false,"experimental":false,"risk_level":"high","rulebook_version":"1.0.0","effective_from":"2026-09-01","mandate_hash":"dd69a39b6d8ff18916f8e206609f6421696e41dbec7469e174493cfa0ea74667","starting_capital_usd":{"v":100000,"src":"aiport_own_work","derived":true},"objective":"Publish, and mechanically mirror, the stock purchases that US federal legislators disclose under the STOCK Act. The point is transparency: to show what a portfolio built only from public disclosure would actually have done, including the cost of the disclosure delay.","philosophy":"This is NOT copy trading. The measured median lag from trade to filing is 24-29 days (House 23.5 median, Senate 29.0 median, statutory max 45). By the time a filing is public, it is public to everyone simultaneously and the large trackers publish within hours. Any information advantage is gone. What remains is a slow thematic tilt toward what legislators were buying a month ago. The portfolio is honest about being that.","benchmarks":{"primary":"SPY","secondary":["RSP","QQQ"]},"ai":{"role":"explain_and_flag_only","role_plain":"This portfolio's AI explains and flags. It makes no trade proposals at all — the maximum is zero, enforced by the mandate validator. Position selection is fully mechanical.","model_tier":"fast","prompt_version":"P05-v1","max_proposals_per_run":0,"allowed_actions":["EXPLAIN","FLAG_DATA_ANOMALY"],"cannot_do":["set a price","set a quantity or share count","set a weight or position size","set or move a risk limit","execute anything"]},"execution":{"cost_profile":"zero_commission_us","fill_convention":"vwap_window","decision_to_order_latency_seconds":60,"vwap_window_minutes":15,"note":"Fills are struck on a VWAP window that begins strictly after the decision timestamp plus a latency delay. No fill can use information from the bar in which the decision was made, so look-ahead is arithmetically impossible rather than merely avoided."},"limits":[{"group":"exposure","label":"Maximum gross exposure","value":"100.0%","enforced_by":"gate 2 — size_order"},{"group":"exposure","label":"Maximum single sector","value":"40.0%","enforced_by":"gate 2 — size_order"},{"group":"permissions","label":"Shorting","value":"prohibited","enforced_by":"gate 1 — proposal validation"},{"group":"permissions","label":"Derivatives","value":"prohibited","enforced_by":"gate 1 — proposal validation"},{"group":"permissions","label":"Margin","value":"prohibited","enforced_by":"gate 1 — proposal validation"},{"group":"sizing","label":"Maximum positions","value":40,"enforced_by":"gate 2 — size_order"},{"group":"sizing","label":"Minimum new position","value":"1.0%","enforced_by":"gate 2 — size_order"},{"group":"sizing","label":"Maximum order as % of ADV","value":"0.5%","enforced_by":"gate 2 — size_order"},{"group":"loss limits","label":"Single-day loss alert","value":"5.0%","enforced_by":"gate 3 — alert"},{"group":"data integrity","label":"Stale-data halt","value":"96 hours","enforced_by":"gate 3 — HALT_STALE_DATA"},{"group":"drawdown ladder","label":"At −15.0% drawdown","value":"alert, publish_commentary","enforced_by":"gate 3 — drawdown ladder"},{"group":"drawdown ladder","label":"At −25.0% drawdown","value":"alert, scale_new_position_size:0.5","enforced_by":"gate 3 — drawdown ladder"},{"group":"drawdown ladder","label":"At −35.0% drawdown","value":"alert, mandatory_deep_review, pause_new_positions_days:15","enforced_by":"gate 3 — drawdown ladder"},{"group":"drawdown ladder","label":"At −55.0% drawdown","value":"graveyard_review","enforced_by":"gate 3 — drawdown ladder"},{"group":"turnover","label":"Max trades per week","value":20,"enforced_by":"entry block — PAUSE_TURNOVER_CAP_REACHED (never blocks an exit)"},{"group":"turnover","label":"Min holding period days","value":5,"enforced_by":"entry block — PAUSE_TURNOVER_CAP_REACHED (never blocks an exit)"},{"group":"circuit breakers","label":"Halt trading if price gap unexplained pct","value":25.0,"enforced_by":"gate 3 — circuit breaker"},{"group":"circuit breakers","label":"Halt trading if parse error rate above pct","value":20.0,"enforced_by":"gate 3 — circuit breaker"},{"group":"circuit breakers","label":"Halt trading if ticker resolution rate below pct","value":80.0,"enforced_by":"gate 3 — circuit breaker"},{"group":"circuit breakers","label":"Halt trading if factpack hash mismatch","value":true,"enforced_by":"gate 3 — circuit breaker"}],"mandatory_disclosures":["Disclosed transaction amounts are RANGES, not exact figures. 65% of all filings fall in the single bucket $1,001-$15,000. Position sizes here are equal-weighted and are NOT derived from disclosed amounts.","Measured median disclosure lag: House 23.5 days, Senate 29.0 days. Statutory maximum 45 days. Worst observed 119 days.","Approximately 10-13% of House filings and 14% of Senate filings are scanned images and are not machine-readable. They are excluded and the exclusion count is published daily.","Mutual funds, ETFs in excepted investment funds, the Thrift Savings Plan, real property and inherited assets are exempt from disclosure and are therefore invisible here.","Inclusion of a legislator is not a claim of wrongdoing. Data is reproduced from public filings for transparency purposes."],"review_schedule":[{"name":"filing_ingest","cron":"30 9 * * MON-FRI","tz":"America/New_York","decision":false},{"name":"signal_run","cron":"0 17 * * MON-FRI","tz":"America/New_York","decision":true},{"name":"weekly_review","cron":"0 12 * * SUN","tz":"America/New_York","decision":true}],"data_requirements":{"disclosures":{"source":["house_clerk_bulk","senate_efd"],"fields":["filer_name","chamber","doc_id","filing_date","transaction_date","ticker","asset_name","transaction_type","amount_bracket","owner"],"rate_limit_rps":2,"user_agent_required":true},"identifier_mapping":{"source":"openfigi","publish_cusip":false},"prices":{"source":"primary_price_feed","fields":["close","adv60","market_cap"],"lag":"t_minus_1"},"corporate_actions":{"source":["ca_primary","ca_crosscheck"],"lookback_days":200},"news":{"source":["sec_8k","gdelt_links"],"mode":"headline_and_link_only","lookback_days":7}},"universe_summary":{"asset_classes":["us_common_stock","us_etf","cash_equivalent"],"exclusions":["options_and_derivatives","bonds_and_fixed_income","non_us_listed","otc_and_pink_sheets","municipal_and_treasury","cryptocurrency","scanned_unparseable_filings","leveraged_etf","inverse_etf"],"inclusion_rules":{"transaction_types":["P","Purchase"],"min_market_cap_usd":500000000,"min_avg_daily_dollar_volume_usd":5000000,"min_price_usd":3.0,"require_resolvable_ticker":true,"min_distinct_filers":1,"signal_freshness_trading_days":10},"cash_equivalents":["SGOV"]},"retirement":{"retired_on":"2026-08-06","traded":false,"reason_code":"WITHDRAWN_LEGAL_QUESTION_NOT_PURSUED","reason":"Withdrawn before launch. The portfolio depends on congressional financial disclosure data, and 5 U.S.C. § 13107(c) makes it unlawful to use those reports for any commercial purpose other than by news and communications media for dissemination to the general public. Every existing tracker relies on that exception. Whether this site sits inside it is a question for counsel, and the operator has decided not to obtain that advice. Rather than operate on an assumption, the portfolio is retired.\n","classification":"legal","what_would_reopen_it":"A recorded sign-off from US counsel in docs/compliance/SIGNOFF.md confirming the news-media framing. The code, the mandate and the rulebook are unchanged and functional; only the status gate stands in the way.\n","note_on_the_alternative":"H.R. 7008 passed the House on 2026-07-22 and would end congressional stock purchases 180 days after enactment while requiring public notice of intent to sell 7 to 14 days beforehand with share counts. That would be a better dataset than the one this portfolio was built on. The v2 pivot is pre-drafted in this file and remains available if the legal question is ever answered.\n"},"rulebook_doc":"docs/portfolios/P05_political_trades_tracker.md","mandate_file":"config/portfolios/P05_political_trades_tracker.yaml","track_record":{"has_record":false,"observations":0,"days_live":0,"inception":null,"reason":"This portfolio has not traded. Figures will appear only once a licensed price feed is connected and the first real decision cycle has run — and from that point they are permanent and unedited.","stats":null,"positions":[],"fills":[],"rejections":[]},"recent_decisions":[],"disclosure_refs":["hypothetical","not_advice","ai_generated","past_performance","costs","no_execution","jurisdiction"],"status_note":"This portfolio is retired. It is preserved unedited, it appears in every aggregate statistic on this site, and it was never deleted. It never traded: it was withdrawn before launch, so it has no results to report and contributes nothing numerically. It is published because a reader who cannot see what was withdrawn cannot judge what remains. Withdrawn before launch. The portfolio depends on congressional financial disclosure data, and 5 U.S.C. § 13107(c) makes it unlawful to use those reports for any commercial purpose other than by news and communications media for dissemination to the general public. Every existing tracker relies on that exception. Whether this site sits inside it is a question for counsel, and the operator has decided not to obtain that advice. Rather than operate on an assumption, the portfolio is retired."}],"retired_without_trading":[{"id":"P05","name":"Political Trades Tracker","reason_code":"WITHDRAWN_LEGAL_QUESTION_NOT_PURSUED","reason":"Withdrawn before launch. The portfolio depends on congressional financial disclosure data, and 5 U.S.C. § 13107(c) makes it unlawful to use those reports for any commercial purpose other than by news and communications media for dissemination to the general public. Every existing tracker relies on that exception. Whether this site sits inside it is a question for counsel, and the operator has decided not to obtain that advice. Rather than operate on an assumption, the portfolio is retired.\n","classification":"legal","what_would_reopen_it":"A recorded sign-off from US counsel in docs/compliance/SIGNOFF.md confirming the news-media framing. The code, the mandate and the rulebook are unchanged and functional; only the status gate stands in the way.\n"}],"entry_criteria":[{"id":"P01","name":"Long-Term Compounders","suspend_at_drawdown_pct":null,"graveyard_at_drawdown_pct":60.0},{"id":"P02","name":"AI Swing Trader","suspend_at_drawdown_pct":25.0,"graveyard_at_drawdown_pct":null},{"id":"P03","name":"Billionaire Consensus","suspend_at_drawdown_pct":null,"graveyard_at_drawdown_pct":55.0},{"id":"P04","name":"Digital Assets & Equities","suspend_at_drawdown_pct":null,"graveyard_at_drawdown_pct":70.0},{"id":"P05","name":"Political Trades Tracker","suspend_at_drawdown_pct":null,"graveyard_at_drawdown_pct":55.0},{"id":"P06","name":"Intraday AI Lab (EXPERIMENTAL)","suspend_at_drawdown_pct":20.0,"graveyard_at_drawdown_pct":30.0},{"id":"P07","name":"Claude Discretionary","suspend_at_drawdown_pct":45.0,"graveyard_at_drawdown_pct":45.0},{"id":"P08","name":"The Learning Book","suspend_at_drawdown_pct":45.0,"graveyard_at_drawdown_pct":45.0},{"id":"P09","name":"Crypto 24/7 (EXPERIMENTAL)","suspend_at_drawdown_pct":50.0,"graveyard_at_drawdown_pct":70.0}],"rules":["A portfolio can never be deleted. It can only be retired, and retirement is a state transition recorded as an event in the same hash chain as every trade.","A retired portfolio keeps its full history: the same required items as a live one, frozen.","Every retired portfolio carries an AI-generated post-mortem produced from its own audit log, classifying the failure as strategy, execution, data or model — and a human note where the operator disagrees with it.","Every site-wide aggregate includes retired portfolios."],"why_it_exists":"The fastest way to manufacture a good track record is to quietly stop publishing the bad ones. The Graveyard is the control that makes that impossible here, and it is the reason the aggregate numbers on this site can be trusted at all.","currently_empty":false},"evidence":{"p03_cik_verification":{"checked":15,"passing_now":15,"failing_now":0,"first_run_failures":7,"first_run_errors":[{"labelled":"Viking Global Investors LP","actually_was":"Third Point LLC"},{"labelled":"Third Point LLC","actually_was":"ValueAct Holdings LP"},{"labelled":"Soros Fund Management LLC","actually_was":"Southeastern Asset Management"},{"labelled":"Greenlight Capital Inc","actually_was":"Abrams Capital Management"},{"labelled":"Akre Capital Management LLC","actually_was":"Coatue Management LLC"},{"labelled":"Altarock Partners LLC","actually_was":"Ironsides Partners — which files no 13F at all"},{"labelled":"Lone Pine Capital LLC","actually_was":"did not resolve to anything"}],"rows":[{"cik":"0001067983","label":"BERKSHIRE HATHAWAY INC","ok":true,"edgar_name":"BERKSHIRE HATHAWAY INC","former_names":["NBH INC"],"name_match":true,"name_match_via":"current name","files_13f_hr":true,"entity_type":"operating","source_url":"https://data.sec.gov/submissions/CIK0001067983.json"},{"cik":"0001336528","label":"Pershing Square Capital Management, L.P.","ok":true,"edgar_name":"Pershing Square Capital Management, L.P.","former_names":[],"name_match":true,"name_match_via":"current name","files_13f_hr":true,"entity_type":"other","source_url":"https://data.sec.gov/submissions/CIK0001336528.json"},{"cik":"0001061768","label":"BAUPOST GROUP LLC","ok":true,"edgar_name":"BAUPOST GROUP LLC/MA","former_names":[],"name_match":true,"name_match_via":"current name","files_13f_hr":true,"entity_type":"other","source_url":"https://data.sec.gov/submissions/CIK0001061768.json"},{"cik":"0001649339","label":"Scion Asset Management, LLC","ok":true,"edgar_name":"Scion Asset Management, LLC","former_names":[],"name_match":true,"name_match_via":"current name","files_13f_hr":true,"entity_type":"other","source_url":"https://data.sec.gov/submissions/CIK0001649339.json"},{"cik":"0001006438","label":"APPALOOSA MANAGEMENT LP","ok":true,"edgar_name":"APPALOOSA MANAGEMENT LP","former_names":[],"name_match":true,"name_match_via":"current name","files_13f_hr":true,"entity_type":"other","source_url":"https://data.sec.gov/submissions/CIK0001006438.json"},{"cik":"0001167483","label":"TIGER GLOBAL MANAGEMENT LLC","ok":true,"edgar_name":"TIGER GLOBAL MANAGEMENT LLC","former_names":["TIGER TECHNOLOGY MANAGEMENT LLC","TIGER TECHNOLOGY MANAGEMENT"],"name_match":true,"name_match_via":"current name","files_13f_hr":true,"entity_type":"other","source_url":"https://data.sec.gov/submissions/CIK0001167483.json"},{"cik":"0001350694","label":"Bridgewater Associates, LP","ok":true,"edgar_name":"Bridgewater Associates, LP","former_names":["Bridgewater Associates, Inc."],"name_match":true,"name_match_via":"current name","files_13f_hr":true,"entity_type":"other","source_url":"https://data.sec.gov/submissions/CIK0001350694.json"},{"cik":"0001037389","label":"RENAISSANCE TECHNOLOGIES LLC","ok":true,"edgar_name":"RENAISSANCE TECHNOLOGIES LLC","former_names":["RENAISSANCE TECHNOLOGIES CORP"],"name_match":true,"name_match_via":"current name","files_13f_hr":true,"entity_type":"other","source_url":"https://data.sec.gov/submissions/CIK0001037389.json"},{"cik":"0001061165","label":"LONE PINE CAPITAL LLC","ok":true,"edgar_name":"LONE PINE CAPITAL LLC","former_names":[],"name_match":true,"name_match_via":"current name","files_13f_hr":true,"entity_type":"other","source_url":"https://data.sec.gov/submissions/CIK0001061165.json"},{"cik":"0001103804","label":"VIKING GLOBAL INVESTORS LP","ok":true,"edgar_name":"VIKING GLOBAL INVESTORS LP","former_names":[],"name_match":true,"name_match_via":"current name","files_13f_hr":true,"entity_type":"other","source_url":"https://data.sec.gov/submissions/CIK0001103804.json"},{"cik":"0001029160","label":"SOROS FUND MANAGEMENT LLC","ok":true,"edgar_name":"SOROS FUND MANAGEMENT LLC","former_names":[],"name_match":true,"name_match_via":"current name","files_13f_hr":true,"entity_type":"other","source_url":"https://data.sec.gov/submissions/CIK0001029160.json"},{"cik":"0001040273","label":"Third Point LLC","ok":true,"edgar_name":"Third Point LLC","former_names":["THIRD POINT MANAGEMENT CO LLC"],"name_match":true,"name_match_via":"current name","files_13f_hr":true,"entity_type":"other","source_url":"https://data.sec.gov/submissions/CIK0001040273.json"},{"cik":"0001079114","label":"GREENLIGHT CAPITAL INC","ok":true,"edgar_name":"GREENLIGHT CAPITAL INC","former_names":[],"name_match":true,"name_match_via":"current name","files_13f_hr":true,"entity_type":"other","source_url":"https://data.sec.gov/submissions/CIK0001079114.json"},{"cik":"0001631014","label":"ALTAROCK PARTNERS LP","ok":true,"edgar_name":"ALTAROCK PARTNERS LP","former_names":["ALTAROCK PARTNERS LLC"],"name_match":true,"name_match_via":"current name","files_13f_hr":true,"entity_type":"other","source_url":"https://data.sec.gov/submissions/CIK0001631014.json"},{"cik":"0001112520","label":"AKRE CAPITAL MANAGEMENT LLC","ok":true,"edgar_name":"AKRE CAPITAL MANAGEMENT LLC","former_names":[],"name_match":true,"name_match_via":"current name","files_13f_hr":true,"entity_type":"other","source_url":"https://data.sec.gov/submissions/CIK0001112520.json"}],"source":"https://data.sec.gov/submissions/","licence_key":"sec_edgar","what_this_is":"Every manager tracked by the Billionaire Consensus portfolio is checked against live SEC EDGAR by a script in the repository, and the report it produces is committed. All fifteen verify today. Seven did not, the first time the check was run — and six of those seven resolved cleanly to real 13F filers that were simply different firms. Not one would have raised an error. The portfolio would have tracked the wrong managers, published their holdings under the wrong names, and looked entirely healthy doing it, for years.","why_it_is_published":"This is the quietest way this platform could mislead a reader, so it is published rather than fixed silently. The check now runs as a script, the corrected list is committed, and a test pins the wrong identifiers so they cannot return by copy-paste."},"restatements":{"generated_at":"2026-08-06T15:02:15.664687+00:00","licence_key":"sec_edgar","source":"https://data.sec.gov/api/xbrl/companyconcept/","what_this_measures":"For each filer and concept, how many reporting periods had their REPORTED VALUE change after first publication. Not how many were reported more than once — comparatives make that normal and uninteresting — but how many actually changed.","why_it_matters":"Keying a fundamentals table on (company, tag, period) silently overwrites the original figure the moment a restatement arrives. The original is the number that was visible on the day of the trade, and it is not recoverable from the API afterwards: the API returns the same superseded-and-current mixture. Every historical read on this platform therefore goes through a point-in-time view keyed on the filing date.","how_to_reproduce":"python scripts/build_evidence.py --ciks <cik>. No API key is required. A descriptive User-Agent with a contact address is mandatory; SEC returns HTTP 403 without one.","requests_made":12,"filers":[{"cik":"0000040545","name":"GENERAL ELECTRIC CO","source_url":"https://data.sec.gov/submissions/CIK0000040545.json","concepts":{"net_income":{"tag_used":"us-gaap:NetIncomeLoss+us-gaap:ProfitLoss+us-gaap:NetIncomeLossAvailableToCommonStockholdersBasic+us-gaap:IncomeLossFromContinuingOperations","periods":332,"periods_reported_more_than_once":295,"periods_where_the_value_changed":139,"largest_revision_usd":{"period_end":"2020-12-31","tag":"IncomeLossFromContinuingOperations","absolute_change":"12725000000"}},"revenue":{"tag_used":"us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax+us-gaap:RevenueFromContractWithCustomerIncludingAssessedTax+us-gaap:Revenues+us-gaap:SalesRevenueNet+us-gaap:SalesRevenueGoodsNet+us-gaap:SalesRevenueServicesNet","periods":229,"periods_reported_more_than_once":164,"periods_where_the_value_changed":98,"largest_revision_usd":{"period_end":"2022-12-31","tag":"Revenues","absolute_change":"47416000000"}}}},{"cik":"0000037996","name":"FORD MOTOR CO","source_url":"https://data.sec.gov/submissions/CIK0000037996.json","concepts":{"net_income":{"tag_used":"us-gaap:NetIncomeLoss+us-gaap:ProfitLoss+us-gaap:NetIncomeLossAvailableToCommonStockholdersBasic+us-gaap:IncomeLossFromContinuingOperations","periods":203,"periods_reported_more_than_once":166,"periods_where_the_value_changed":41,"largest_revision_usd":{"period_end":"2013-12-31","tag":"NetIncomeLoss","absolute_change":"4798000000"}},"revenue":{"tag_used":"us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax+us-gaap:Revenues+us-gaap:SalesRevenueNet","periods":141,"periods_reported_more_than_once":117,"periods_where_the_value_changed":18,"largest_revision_usd":{"period_end":"2009-12-31","tag":"Revenues","absolute_change":"14381000000"}}}},{"cik":"0000072971","name":"WELLS FARGO & COMPANY/MN","source_url":"https://data.sec.gov/submissions/CIK0000072971.json","concepts":{"net_income":{"tag_used":"us-gaap:NetIncomeLoss+us-gaap:ProfitLoss+us-gaap:NetIncomeLossAvailableToCommonStockholdersBasic","periods":175,"periods_reported_more_than_once":145,"periods_where_the_value_changed":35,"largest_revision_usd":{"period_end":"2020-06-30","tag":"NetIncomeLoss","absolute_change":"1467000000"}},"revenue":{"tag_used":"us-gaap:Revenues+us-gaap:RevenuesNetOfInterestExpense","periods":43,"periods_reported_more_than_once":27,"periods_where_the_value_changed":8,"largest_revision_usd":{"period_end":"2020-12-31","tag":"RevenuesNetOfInterestExpense","absolute_change":"1924000000"}}}},{"cik":"0000789019","name":"MICROSOFT CORP","source_url":"https://data.sec.gov/submissions/CIK0000789019.json","concepts":{"net_income":{"tag_used":"us-gaap:NetIncomeLoss","periods":90,"periods_reported_more_than_once":78,"periods_where_the_value_changed":8,"largest_revision_usd":{"period_end":"2017-06-30","tag":"NetIncomeLoss","absolute_change":"4285000000"}},"revenue":{"tag_used":"us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax+us-gaap:Revenues+us-gaap:SalesRevenueNet+us-gaap:SalesRevenueGoodsNet","periods":119,"periods_reported_more_than_once":81,"periods_where_the_value_changed":6,"largest_revision_usd":{"period_end":"2016-12-31","tag":"SalesRevenueNet","absolute_change":"1736000000"}}}},{"cik":"0000320193","name":"Apple Inc.","source_url":"https://data.sec.gov/submissions/CIK0000320193.json","concepts":{"net_income":{"tag_used":"us-gaap:NetIncomeLoss","periods":86,"periods_reported_more_than_once":79,"periods_where_the_value_changed":4,"largest_revision_usd":{"period_end":"2009-09-26","tag":"NetIncomeLoss","absolute_change":"2531000000"}},"revenue":{"tag_used":"us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax+us-gaap:Revenues+us-gaap:SalesRevenueNet","periods":101,"periods_reported_more_than_once":76,"periods_where_the_value_changed":4,"largest_revision_usd":{"period_end":"2009-09-26","tag":"SalesRevenueNet","absolute_change":"6368000000"}}}},{"cik":"0000050863","name":"INTEL CORP","source_url":"https://data.sec.gov/submissions/CIK0000050863.json","concepts":{"net_income":{"tag_used":"us-gaap:NetIncomeLoss+us-gaap:ProfitLoss","periods":95,"periods_reported_more_than_once":77,"periods_where_the_value_changed":0,"largest_revision_usd":null},"revenue":{"tag_used":"us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax+us-gaap:SalesRevenueNet","periods":80,"periods_reported_more_than_once":62,"periods_where_the_value_changed":0,"largest_revision_usd":null}}}]}},"cost_model":{"published_verbatim":true,"file":"config/cost_model.yaml","profiles":["zero_commission_us","swiss_retail","institutional","crypto_retail_punitive","intraday_punitive"],"fill_conventions_allowed":["vwap_window","next_session_open_vwap_15m","next_bar_open"],"fill_conventions_banned":[{"id":"same_bar_close","why":"The decision used data up to the close and would fill at the close. Indefensible."},{"id":"same_bar_vwap","why":"Overlaps the decision window."},{"id":"bar_high_or_low","why":"Uses information unavailable at decision time."},{"id":"next_day_open_for_intraday_decision","why":"Injects a full overnight gap unrelated to the strategy."}],"raw":{"version":"1.1.0","effective_from":"2026-09-01","anchor_citation":{"study":"Schwarz, Barber, Huang, Jorion & Odean, 'The Actual Retail Price of Equity Trades', Journal of Finance (2025)","url":"https://papers.ssrn.com/sol3/papers.cfm?abstract_id=4189239","finding":"Mean account-level round-trip cost 7 bps to 46 bps across five brokers, excluding commissions, from ~85,000 simultaneous identical market orders.","how_we_use_it":"Our default zero_commission_us profile targets a 20-25 bps all-in round-trip for large caps, which sits inside the peer-reviewed range and is conservative relative to the best broker measured.\n"},"liquidity_buckets":[{"id":"mega_liquid_etf","match":{"asset_class":"us_etf","adv_usd_min":1000000000},"half_spread_bps":0.5,"source":"etf.com spread table: SPY 0.32bp, QQQ 0.41bp, GLD 0.65bp, VOO 0.70bp full spread"},{"id":"liquid_etf","match":{"asset_class":"us_etf","adv_usd_min":100000000},"half_spread_bps":3.0,"source":"etf.com: equity ETF median full spread 21bp; asset-weighted 3bp. We use a value between."},{"id":"other_etf","match":{"asset_class":"us_etf"},"half_spread_bps":12.0,"source":"etf.com: all US ETP median full spread 20bp, mean 52bp"},{"id":"mega_cap","match":{"asset_class":"us_common_stock","market_cap_usd_min":200000000000},"half_spread_bps":2.0,"source":"Frec direct-indexing study: ~2bps quoted half-spread on S&P 500 constituents"},{"id":"large_cap","match":{"asset_class":"us_common_stock","market_cap_usd_min":10000000000},"half_spread_bps":3.0,"source":"Frec study, widened for intraday variation (spreads ~4x wider at the open)"},{"id":"mid_cap","match":{"asset_class":"us_common_stock","market_cap_usd_min":2000000000},"half_spread_bps":8.0,"assumption":true,"note":"NO clean citable source found for US mid-cap quoted spreads in bps. This is an assumption, deliberately conservative. The Frec study found share PRICE matters more than market cap, which cuts against the usual intuition. TODO: replace with our own measurement once we have 60 days of quote data.\n"},{"id":"small_cap","match":{"asset_class":"us_common_stock"},"half_spread_bps":25.0,"assumption":true,"note":"Assumption. Same caveat as mid_cap."},{"id":"crypto_major","match":{"asset_class":"crypto_spot","symbol_in":["BTC","ETH"]},"half_spread_bps":5.0,"source":"CoinGecko liquidity report: BTC +-$100 depth $20-25m median across 8 major CEXs"},{"id":"crypto_other","match":{"asset_class":"crypto_spot"},"half_spread_bps":20.0,"assumption":true}],"extended_hours_punitive":{"tz":"America/New_York","applies_to_asset_classes":["us_common_stock","us_etf","cash_equivalent"],"bands":[{"id":"deep_premarket","window":"04:00-07:00","spread_multiplier":7.0,"assumption":true,"note":"Extrapolated: B&H (2004) show spreads widening with distance from the regular session; Eaton/Shkilko/Werner (2024) show depth halved and quoted spreads 2.4x overnight even for liquid names. Volume share <1%. No study measures 04:00-07:00 directly; the multiple is deliberately punitive.\n"},{"id":"premarket","window":"07:00-09:30","spread_multiplier":4.0,"source":"Barclay & Hendershott, J. Finance (2004): pre-open effective half-spread 67.7 bps vs 16.9 bps regular hours = 4.0x, on ~2% of regular volume (top-quartile names 3.5x).\n"},{"id":"after_hours","window":"16:00-18:00","spread_multiplier":3.0,"source":"Barclay & Hendershott, J. Finance (2004): after-hours effective half-spread 57.2 bps vs 16.9 bps = 3.4x; top-quartile names 2.7x. Point estimate 3.0x sits inside the measured range; volume ~3.4% of regular, fading -80% by 16:30.\n"},{"id":"late_after_hours","window":"18:00-20:00","spread_multiplier":8.0,"assumption":true,"note":"B&H (2004) quoted half-spreads reach ~75 bps by 18:30 (~7.5x a ~10 bps midday quote); 18:30-20:00 is unmeasured. Deliberately punitive; volume share <0.5%.\n"}],"no_session_fallback":{"id":"no_session","spread_multiplier":8.0,"assumption":true}},"impact":{"model":"square_root_law","Y":1.0,"citation":"Bouchaud et al.; Almgren, Thum, Hauptmann & Li (2005) 'Direct Estimation of Equity Market Impact'","urls":["https://arxiv.org/abs/1602.03043","https://www.cis.upenn.edu/~mkearns/finread/costestim.pdf"],"honesty_note":"The square-root law is calibrated on metaorders roughly 1e-4 to 1e-1 of ADV. A $5,000 order in a mega-cap is orders of magnitude below the validated regime, so we are extrapolating. It extrapolates to \"negligible\", which we believe is the right answer, but the extrapolation is stated rather than hidden.\n","cap_bps":100.0},"regulatory_fees":{"sec_section_31":{"unit":"per_dollar_of_covered_sales","schedule":[{"effective_from":"2025-05-14","rate_per_million_usd":27.8},{"effective_from":"2026-01-01","rate_per_million_usd":0.0},{"effective_from":"2026-04-04","rate_per_million_usd":20.6}],"source":"SEC Fee Rate Advisory 2026-2; FINRA Information Notice 03/17/26","url":"https://www.sec.gov/rules-regulations/fee-rate-advisories/2026-2","warning":"Rate resets 60 days after Congress enacts the SEC's annual appropriation. It has been $0.00 for part of a year. CHECK QUARTERLY."},"finra_taf_equity":{"unit":"per_share","exempt_if_shares_lte":50,"schedule":[{"effective_from":"2025-01-01","rate_per_share":0.000166,"max_per_trade":8.3},{"effective_from":"2026-01-01","rate_per_share":0.000195,"max_per_trade":9.79},{"effective_from":"2027-01-01","rate_per_share":0.000213,"max_per_trade":10.65},{"effective_from":"2028-01-01","rate_per_share":0.000231,"max_per_trade":11.55},{"effective_from":"2029-01-01","rate_per_share":0.000249,"max_per_trade":12.5}],"source":"SR-FINRA-2024-019 phase-in schedule","note":"2027-2029 rows are the published phase-in; verify each January."},"finra_cat_fee":{"status":"discontinued","discontinued_from":"2025-12-01","note":"No longer charged on equity and options orders. Some broker fee schedules still list it — they are stale."}},"profiles":{"zero_commission_us":{"label":"US zero-commission broker (default)","description":"Approximates Alpaca / Robinhood / Schwab retail. No explicit commission; cost is spread plus regulatory fees.","commission":{"type":"none"},"spread_multiplier":1.0,"apply_regulatory_fees":true,"fx_conversion_bps":0},"swiss_retail":{"label":"Swiss retail broker (Swissquote tier table)","description":"What a Swiss retail investor reproducing these trades would actually pay. Brutal, and the honest comparison for our likely audience.","commission":{"type":"tiered_flat_chf","tiers":[{"up_to_chf":500,"fee_chf":3},{"up_to_chf":1000,"fee_chf":5},{"up_to_chf":2000,"fee_chf":10},{"up_to_chf":10000,"fee_chf":29},{"up_to_chf":15000,"fee_chf":49},{"up_to_chf":25000,"fee_chf":79},{"up_to_chf":50000,"fee_chf":129},{"up_to_chf":null,"fee_chf":190}]},"source":"https://www.swissquote.com/en-ch/private/trade/pricing/securities/stocks","spread_multiplier":1.0,"apply_regulatory_fees":true,"fx_conversion_bps":25,"note":"On a CHF 5,000 trade this is 58 bps one way, 116 bps round trip. That is ~80x IBKR Pro. Worth showing."},"institutional":{"label":"Institutional / IBKR Pro tiered","description":"Near-floor execution cost. The upper bound on how good this could look.","commission":{"type":"per_share","rate_per_share":0.0035,"min_per_order":0.35,"max_pct_of_notional":1.0},"source":"https://www.interactivebrokers.com/en/pricing/commissions-stocks.php","spread_multiplier":0.6,"apply_regulatory_fees":true,"fx_conversion_bps":2},"crypto_retail_punitive":{"label":"Crypto retail (Coinbase Advanced / Kraken Pro entry tier)","description":"Entry-tier taker fees at a US-accessible venue. Crypto costs are 20-50x equity costs and must be modelled as such.","commission":{"type":"percent_of_notional","rate_pct":0.6},"source":"Coinbase Advanced $0-10k tier 0.60% taker; Kraken Pro Tier 1 0.80% taker","spread_multiplier":1.0,"apply_regulatory_fees":false,"fx_conversion_bps":0},"intraday_punitive":{"label":"Intraday worst-honest-case","description":"Cross the FULL spread on both sides, plus all fees. Used by the Intraday AI Lab so that any positive result has cleared the highest honest bar.","commission":{"type":"none"},"spread_multiplier":2.0,"apply_regulatory_fees":true,"fx_conversion_bps":0}},"fill_conventions":{"allowed":[{"id":"vwap_window","description":"VWAP over [decision_ts + latency, decision_ts + latency + window]. Default window 15 minutes.","defensibility":"very_high","rationale":"Strictly after the decision timestamp, so look-ahead is arithmetically impossible. Robust to a single anomalous print. It is the benchmark real execution desks are measured against."},{"id":"next_session_open_vwap_15m","description":"VWAP over the first 15 minutes of the next regular session.","defensibility":"high","rationale":"Standard convention for decisions made outside market hours."},{"id":"next_bar_open","description":"Open of the first bar strictly after the decision.","defensibility":"high"}],"banned":[{"id":"same_bar_close","reason":"The decision used data up to the close and would fill at the close. Indefensible."},{"id":"same_bar_vwap","reason":"Overlaps the decision window."},{"id":"bar_high_or_low","reason":"Uses information unavailable at decision time."},{"id":"next_day_open_for_intraday_decision","reason":"Injects a full overnight gap unrelated to the strategy."}]},"partial_fills":{"enabled":true,"rule":"If order_notional > max_order_pct_of_adv * adv_usd, fill only the permitted slice and re-queue the remainder for the next session.","max_slices":5,"unfilled_after_max_slices":"cancel_and_log"},"corporate_actions":{"dividends":{"credited":true,"timing":"pay_date","withholding_tax_pct":0.0,"withholding_note":"Modelled as zero. A Swiss investor in US equities would face 15% under the CH-US treaty with W-8BEN. Disclosed as a known simplification.","reinvested":false},"splits":{"applied":true,"timing":"ex_date"},"reverse_splits":{"applied":true,"timing":"ex_date","fractional_handling":"cash_in_lieu"},"spinoffs":{"applied":true,"timing":"ex_date","fallback":"cash_at_when_issued_price"},"mergers":{"cash":"apply_at_close","stock":"convert_at_ratio","mixed":"apply_both"},"delistings":{"action":"mark_to_last_price_then_write_to_zero_after_days","days":30},"sentinel":{"description":"Independent safety net. Flags any close-to-close move where |return| > threshold and no corporate action is on file.","threshold_pct":25.0,"on_flag":["halt_portfolio_trading","alert","require_manual_resolution"]}}},"note":"Published verbatim, including the assumptions that are not sourced. Where a number is a guess it is labelled a guess. A cost model that hides its weak assumptions makes every result downstream of it unfalsifiable."},"data_sources":[{"key":"aiport_own_work","vendor":"aiport (this platform)","tier":"own-work-product","publishable":true,"derived_publishable":true,"terms_url":null,"attribution_required":null,"verified_on":"2026-08-06","notes":"Mandates, rulebooks, our own paper fills and every statistic derived from them. Authored here, not licensed from anyone. Recorded as a licence so that the payload audit can require a key on every figure."},{"key":"sec_edgar","vendor":"U.S. Securities and Exchange Commission","tier":"public","publishable":true,"derived_publishable":true,"terms_url":"https://www.sec.gov/os/webmaster-faq#developers","attribution_required":null,"verified_on":"2026-08-06","notes":"US government work, not subject to copyright. Publishable verbatim. A descriptive User-Agent with a contact address is MANDATORY; a generic one returns HTTP 403."}],"changelog":[],"transparency_items":[{"n":1,"item":"Original starting capital","status":"live","note":"$100,000 for every portfolio, never restated."},{"n":2,"item":"Every trade with decision time and fill time","status":"specified","note":"Mechanism built and tested; awaits a licensed price feed."},{"n":3,"item":"Current holdings","status":"specified","note":"Awaits the first real cycle."},{"n":4,"item":"Historical holdings at any date","status":"specified","note":"Ledger replay is implemented."},{"n":5,"item":"Realised and unrealised gains, separated","status":"specified","note":"Never netted into a single number."},{"n":6,"item":"Maximum drawdown with its start and end dates","status":"specified","note":"Implemented in metrics.compute_stats."},{"n":7,"item":"Fees, spreads and estimated slippage, itemised","status":"live","note":"Cost model published verbatim; per-fill breakdown implemented."},{"n":8,"item":"Benchmark performance","status":"specified","note":"Aligned on common dates only, so a benchmark cannot start later."},{"n":9,"item":"Portfolio rule changes with full diff","status":"live","note":"RULEBOOK_CHANGE events in the same hash chain as trades."},{"n":10,"item":"AI model and prompt version changes","status":"live","note":"MODEL_CHANGE events. The record must not become a chimera of two systems without saying so."},{"n":11,"item":"Whether each decision was made before or after market open","status":"live","note":"Boolean on every RUN_START event."},{"n":12,"item":"Failed, closed and abandoned portfolios","status":"live","note":"The Graveyard exists and is empty. Its rules are published now, before there is anything in it."},{"n":13,"item":"The rejection log","status":"specified","note":"Every AI proposal the rule engine refused, with its reason code."},{"n":14,"item":"The fact pack for every decision","status":"specified","note":"Downloadable JSON plus hash, committed before the model is called."},{"n":15,"item":"The grounding report","status":"specified","note":"How many quantitative claims traced back to source data."},{"n":16,"item":"The daily audit head hash","status":"live","note":"Published on this site today. Save it and verify history later."},{"n":17,"item":"The deterministic baseline shadow","status":"backlog","note":"The same portfolio run by a five-line rule. Does the model beat it? Not yet answered — and it will be published either way."},{"n":18,"item":"Quarterly buy/hold/sell distribution","status":"specified","note":"Not legally required of a non-firm publisher. Published anyway."}]}