Only the locked order was executed; unused allowance does not roll into another trade.
FICTIONAL CLIENT PORTFOLIO WEEKLY · P2-S01 · W6
A cash buffer begins. Concentration remains.
The simulation gained 1.86%, versus 1.95% for the original portfolio. A simulated Tesla sale lifted cash to 4.05%, still below the first-stage 5% floor; Tesla remains 60.49%. Reducing risk does not guarantee short-term outperformance.
Observation: 23–30 October 2026 closes. Cutoff: 30 October US regular-session close. Master report and public edition: 2 November.
View the one-minute decision board ↓One-minute decision board
Initial simulated capital: $1 million.
Still below the first-stage 5% floor; the mismatch is not resolved.
Three paths and implementation cost
| Comparison | Weekly return | Cumulative: provisional |
|---|---|---|
| ACIS simulation | +1.86% | +3.66% |
| Original buy & hold | +1.95% | +3.76% |
| Policy benchmark | -0.59% | -0.49% |
Weekly difference versus original: -0.09 percentage points; versus policy: 2.46 percentage points.
Policy benchmark: 60% SPY + 30% SGOV + 10% GLD; a risk-policy comparison, not the original portfolio.
Weekly gross turnover: 4.00% · Implementation cost: $42.03. Within-week close-to-close maximum drawdown: 3.94% · Sample standard deviation of five daily returns: 2.56%.
These risk measures are not annualized and exclude intraday moves. Full-history drawdown, annualized volatility and downside capture remain pending, not zero.
The adjustment ended $920.91 below not executing this order, including $42.03 implementation cost. This local counterfactual is not a conclusion about long-term strategy quality.
Original allocation and closing holdings
Original allocation: 60% TSLA, 20% NVDA, 15% COIN, 5% GLD, zero cash; the balanced goal conflicts with concentrated risk.
| Security | Initial weight | Closing units | Closing value · USD | Closing weight |
|---|---|---|---|---|
| TSLA | 60% | 1568.291694 | $627,018.70 | 60.49% |
| NVDA | 20% | 935.016400 | $191,341.76 | 18.46% |
| COIN | 15% | 911.798700 | $130,879.59 | 12.63% |
| GLD | 5% | 127.635700 | $45,410.23 | 4.38% |
| Cash | 0% | — | $41,983.31 | 4.05% |
Tesla closes at 60.49%; cash of 4.05% remains below the first-stage floor. The 12% stock limit is an end-state research reference, not a claim of current compliance. Selling 4% of pre-trade NAV does not reduce closing weight mechanically by four points.
GLD carries gold-price risk and is not a high-dividend product because of an original client belief. SGOV is not cash. Rounded weights may not sum to exactly 100%.
Separate decision, simulated fill and booking
Order locked: 26 October 2026, 02:52:17 UTC, before the US session. Pricing convention: that day’s regular-session close. Verification/bookkeeping completed on 2 November at 02:48:45 UTC.
| Item | Record |
|---|---|
| Side / security | Sell TSLA |
| Pre-trade NAV | $1,050,633.30 |
| Units sold | 107.311506 |
| Simulated fill price | $391.62 |
| Gross proceeds | $42,025.33 |
| Cost: 10 basis points | $42.03 |
| Net cash proceeds | $41,983.31 |
Delayed-verified simulated execution, not a real-time fill receipt. Later earnings do not select a better fill date or price. Missing/conflicting prices, suspension, negative cash or a budget breach would cancel the order; it is not automatically rolled forward.
Daily reconciliation
| Close date | ACIS NAV | Original NAV | Policy NAV |
|---|---|---|---|
| 2026-10-23 | $1,017,681.90 | $1,017,681.90 | $1,001,023.47 |
| 2026-10-26 | $1,050,591.28 | $1,050,633.30 | $1,005,658.98 |
| 2026-10-27 | $1,079,174.79 | $1,080,916.63 | $1,010,240.89 |
| 2026-10-28 | $1,072,978.38 | $1,074,372.53 | $1,012,723.16 |
| 2026-10-29 | $1,067,719.39 | $1,069,014.82 | $1,009,144.63 |
| 2026-10-30 | $1,036,633.58 | $1,037,554.49 | $995,085.99 |
USD. The 23 October close anchors weekly return; 26–30 October provides five daily return observations. Policy curves carry forward each case’s units; their daily returns are not forced to match exactly.
This week’s judgment and the next 90 days
Retain the remaining principal holdings and research hypotheses while addressing zero cash and single-stock concentration. Coinbase earnings definitions require review, but the release followed the locked order and was not its ex-ante basis.
Define a separate target, execution condition and cancellation rule before another adjustment; unused allowance cannot backfill a trade. The first-stage 5% cash floor and end-state limits still require governance.
Sources and unfinished work
This public sample derives from the 2 November W6 master and workbook. Prices are unadjusted regular-session closes, retrieved on 2 November; distributions are separately booked as cash or receivables. The master cross-checks the TSLA fill price with a second source. This publication additionally checks ledger arithmetic, not a full independent price or corporate-action audit.
The master checked seven distribution schedules but lacked a comprehensive suspension/corporate-action database. Historical audit, long-term risk measures and ETF look-through remain pending. Cash earns no interest and tax is not modeled.
Questions & answers
Is this real client performance?
No. People, amounts, holdings and trades are fictional tests demonstrating a research process, not long-term investment skill.
Was a simulated rebalance executed?
Yes. The plan was locked before the 26 October session, priced at that regular-session close and verified/booked on 2 November. This is a delayed-verified simulated fill, not a real-time execution receipt.
Why is Tesla still above 60% after selling?
The order uses pre-trade NAV while closing weights use closing NAV, and prices change. Selling 4% of pre-trade NAV is not a four-percentage-point reduction in closing weight. Standard P2 has no such trade.
Are cumulative returns and long-term risks audited?
No. Cumulative figures are provisional. W0 prices and W1–W2 timestamps remain unresolved, and the original P2-S01 policy ledger is unrecovered. Full-history drawdown, annualized volatility and downside capture remain pending.
Are the two cases the same portfolio?
No. P2 starts diversified. P2-S01 began with 60% Tesla, 20% NVIDIA, 15% Coinbase, 5% GLD and no cash. Their ledgers and histories remain separate.