Billionaire Consensus
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.
Track record
Fewer than two NAV observations. No statistics are meaningful yet.
Recent decisions
Every run, including the ones that traded nothing: the committed fact-pack hash (written to the audit chain before the model was called), the model's published view, each proposal with the rule engine's verdict, and the fills that resulted. Rejected proposals stay up with their reason codes — a reader who can only see the trades that happened cannot judge the discipline that refused the ones that didn't.
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. This 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. The portfolio shows zero total return (pf.total_return_pct = 0), zero drawdown (pf.drawdown_pct…
What the AI is allowed to do
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.
EXPLAIN · FLAG_DATA_ANOMALY
At most 0 proposals per run, each carrying a direction, a conviction from 1 to 5, a rationale, and references to the facts it used.
- set a price
- set a quantity or share count
- set a weight or position size
- set or move a risk limit
- execute anything
Model tier deep · prompt version P03-v1. Any change to either is recorded as a MODEL_CHANGE event in the audit chain — without it the record would be a chimera of two systems presented as one.
Enforced limits
Every limit below names the code path that enforces it. This is not decoration: a limit that is published but never fires is worse than no limit, because a reader has no way to tell the difference. A test walks every mandate, drives the engine into the state each declared control claims to protect against, and fails the build if nothing stops it.
| Limit | Value | Enforced by |
|---|---|---|
| Maximum gross exposure | 100.0% | gate 2 — size_order |
| Maximum single sector | 35.0% | gate 2 — size_order |
| Limit | Value | Enforced by |
|---|---|---|
| Shorting | prohibited | gate 1 — proposal validation |
| Derivatives | prohibited | gate 1 — proposal validation |
| Margin | prohibited | gate 1 — proposal validation |
| Limit | Value | Enforced by |
|---|---|---|
| Minimum new position | 1.5% | gate 2 — size_order |
| Maximum order as % of ADV | 1.0% | gate 2 — size_order |
| Limit | Value | Enforced by |
|---|---|---|
| Stale-data halt | 48 hours | gate 3 — HALT_STALE_DATA |
| Limit | Value | Enforced by |
|---|---|---|
| At −20.0% drawdown | alert, publish_commentary | gate 3 — drawdown ladder |
| At −35.0% drawdown | alert, mandatory_deep_review | gate 3 — drawdown ladder |
| At −55.0% drawdown | graveyard_review | gate 3 — drawdown ladder |
| Limit | Value | Enforced by |
|---|---|---|
| Max trades per quarter | 30 | entry block — PAUSE_TURNOVER_CAP_REACHED (never blocks an exit) |
| Min holding period days | 0 | entry block — PAUSE_TURNOVER_CAP_REACHED (never blocks an exit) |
| Limit | Value | Enforced by |
|---|---|---|
| Halt trading if price gap unexplained pct | 25 | gate 3 — circuit breaker |
| Halt trading if 13f parse error rate above pct | 5 | gate 3 — circuit breaker |
| Halt trading if unmapped figi rate above pct | 10 | gate 3 — circuit breaker |
| Halt trading if factpack hash mismatch | true | gate 3 — circuit breaker |
Disclosures specific to this portfolio
These render on the page itself rather than in a footer, because without them the numbers actively mislead.
- 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.
Execution
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.
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.
Review schedule
| Job | Cron | Timezone | Makes a decision |
|---|---|---|---|
| filing watch | 0 9 12-20 2,5,8,11 * | America/New_York | no |
| rebalance run | 0 17 15-21 2,5,8,11 * | America/New_York | yes |
| monthly risk | 0 12 1 * * | America/New_York | no |
Published on a fixed, regular schedule. Never event-triggered — no "market is crashing, sell now" alerts, deliberately.
Machine-readable mandate: config/portfolios/P03_billionaire_consensus.yaml · human rulebook: docs/portfolios/P03_billionaire_consensus.md · effective from 2026-08-06 · payload b618c290568f…