Risk mismatch persists; later simulation plans and fills are recorded separately.
FICTIONAL CLIENT WEEKLY SAMPLE · P2-S01 · W5
Gains do not resolve concentration risk.
The portfolio gained 1.64%, but Tesla reached 61.29% and cash remained zero. Address the risk mismatch; no simulated trade occurred during this reporting week.
Observation: 16 October close to 23 October close, 2026. Data cutoff: 23 October US regular-session close. Master report: 26 October; public edition: 27 October.
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Initial simulated capital: $1,000,000. Historical audit limitations still apply.
Gold does not replace immediately available cash.
Three paths this week
Weekly difference versus original: 0.00 percentage points; versus policy benchmark: +2.27 percentage points. No contribution from new trades.
Policy benchmark: 60% SPY + 30% SGOV + 10% GLD. It represents a risk-policy comparison, not the client's original holdings.
Weekly turnover: 0%; new trading costs: $0. Maximum close-to-close drawdown within the week: 4.44%; sample standard deviation of five daily returns: 2.64%. Not annualized and excludes intraday moves. Full-history risk metrics remain pending.
Preserving the original portfolio
A balanced objective with concentrated holdings and zero cash, separate from standard P2. W0–W2 is a historical reconstruction; prospective tracking began after publication on 5 October.
| Holding | Initial weight | At cutoff |
|---|---|---|
| TSLA | 60% | 61.29% |
| NVDA | 20% | 19.38% |
| COIN | 15% | 14.73% |
| GLD | 5% | 4.60% |
| Cash | 0% | 0.00% |
Tesla is 61.29%; the three stocks total 95.40%. The original belief that GLD pays a high dividend is a fictional client's misconception, not a product fact.
What happens next
The 26 October master report separately locked a prospective simulation plan: sell Tesla worth 4% of pre-trade portfolio NAV and retain cash, using the 26 October regular-session close. This is not a W5 fill.
At this public-edition review, no verified fill receipt has been established; execution status remains unverified. A scheduled date having passed does not establish execution. Planned amounts cannot substitute for actual quantities, prices and costs.
The step aims to reduce zero-cash and concentration risks while retaining the main position. The 10-basis-point implementation cost is recorded only after the simulated fill is verified. Missing or conflicting prices, suspension or constraint breaches prevent confirmation. Any later execution record is appended separately.
Verification scope and limitations
The master report uses public unadjusted regular-session closes, with distributions separately recorded as cash or receivables to avoid double counting. Its valuation covers 19 securities and six closes; TSLA and CRDO endpoint prices were cross-checked against a second source, not every security.
Distribution schedules for SPY, QQQ, SGOV, IEF, MSFT, GOOG and NVDA were checked, with no new ex-dividend or payment event found on 19–23 October. Complete corporate-action coverage is not claimed. Historical data is retained with limitations disclosed, without backfilled trades or performance-enhancing restatement.
Sources retrieved on 26 October 2026; market evidence cutoff: 23 October. Cash earns no interest and tax is not modeled.
Questions & answers
Is this a real client track record?
No. People, amounts, holdings and trades are fictional test data used to demonstrate the research service.
Were there any trades this week?
There were no new simulated fills on 19–23 October. Turnover and new implementation costs were zero. Subsequent plans are excluded from this week's returns.
How do P2 and P2-S01 differ?
P2 starts with a diversified portfolio. P2-S01 has a balanced objective but started with 60% Tesla and no cash. The cases have independent ledgers and histories.
Do these results establish investment skill?
No. The sample is short and historical prices and some ledger records remain under review. Weekly results carry forward existing units and are not a fully audited long-term track record.