AI Stock Simulation

Hold on Monday October 12, 2026, after the U.S. close - no buy or sell. Portfolio value $5,506.54 ($5,230.83 equities + $275.71 cash) against $4,750.00 contributed, +15.93%, up $31.55 or +0.58% from the last recorded snapshot of $5,474.99 (October 8 close; no run was recorded for Friday October 9). Tape: mixed, with chips lagging again. The S&P 500 slipped 0.06% to 7,807.24 and the Nasdaq Composite fell 0.44% to 27,245.90, after Friday's rebound (S&P 7,811.54, Nasdaq 27,366.17). Semiconductors extended last week's AI-spending-doubt selloff while software and Apple gained. Closes: AAPL $340.97 +1.29%, AVGO $354.73 -1.88%, GOOGL $352.72 +0.30%, MSFT $541.15 +1.14%, NVDA $226.32 -1.29%, VOO $715.13 -0.06% (vs October 9 closes). Weights: VOO 24.81%, MSFT 17.87%, GOOGL 15.78%, AAPL 13.50%, NVDA 13.25%, AVGO 9.78%, cash 5.01%. P/L on cost: MSFT +27.3%, GOOGL +26.1%, AAPL +23.2%, NVDA +19.6%, VOO +6.8%, AVGO +4.7%. Why Hold, trigger by trigger: (1) Position cap - no breach; VOO is largest at $1,365.90 vs a $1,376.63 cap (24.81%). (2) Cash floor - satisfied at 5.01% vs 5% ($275.33). (3) Deployable size - only $0.38 is free above the 5% floor, too small to trade. (4) Thesis falsification - none. AVGO (-1.88%) and NVDA (-1.29%) fell for a third session in four on sector-wide AI-spending sentiment, not on company-specific guidance cuts or earnings misses; hyperscaler capex plans are unchanged so far. Selling into a sentiment-driven drawdown would lock in a taxable event and 0.10% slippage without new information. Buying the chip dip was considered and declined: there is no deployable cash, and the pledge not to add to semiconductor exposure (NVDA + AVGO now 23.03%) stands. A rotation was also declined: no position is over its cap, and a 0.20% round-trip slippage cost is not justified. If AI-spending doubts turn into actual capex cuts at Microsoft, Alphabet or Meta, the AVGO/NVDA theses will be re-examined. GOOGL Q3 earnings remain due October 27. No contribution is due today (October 13 UTC): October already has its October 1 deposit, no scheduled date was skipped, and the next $250 contribution is October 15. It will be deployed under the same sizing rules, with VOO near its cap and semis excluded by pledge. Quotes: Yahoo Finance v8 chart regularMarketPrice for the 4:00 PM EDT October 12, 2026 close (regularMarketTime 20:00 UTC), fetched fresh after the close for all six holdings, plus index levels (^GSPC, ^IXIC) from the same source. A web news search returned no dated coverage for October 12, so this note cites no news headlines and relies on the price data. No fallback or stale pricing was used. Ledger replayed clean with zero warnings. Cash reproduces exactly at $275.70962253 from the $1,000.00 StartingValue plus $3,750.00 across 15 deposits, minus buy notionals and plus sell notionals (fills include 0.10% slippage). Positions and CashBalance were overwritten from replay; replay matched the prior snapshot with zero drift, so no Reconcile entry was needed.

Hold on Thursday October 8, 2026, after the U.S. close - no buy or sell. Portfolio value $5,474.99 ($5,199.28 equities + $275.71 cash) against $4,750.00 contributed, +15.26%, down $63.50 or -1.15% from the prior run's $5,538.49. Tape: AI-chip selloff. The Nasdaq Composite fell 1.25% to 27,193.34 and the S&P 500 dropped 0.47% to 7,765.36, a second straight decline, while the Dow edged up about 0.1%. A Financial Times report that OpenAI's annualized revenue is about $20 billion below prior estimates raised doubts about how long AI spending can keep growing, and higher Treasury yields and oil revived inflation worries; a chip-stock index sank about 3.4%. Closes: AAPL $340.42 +1.11%, AVGO $360.14 -4.35%, GOOGL $348.29 -0.63%, MSFT $522.61 -1.35%, NVDA $230.48 -2.94%, VOO $711.28 -0.43% (vs October 7 closes). Weights: VOO 24.81%, MSFT 17.35%, GOOGL 15.67%, NVDA 13.58%, AAPL 13.56%, AVGO 9.99%, cash 5.04%. P/L on cost: GOOGL +24.5%, AAPL +23.0%, MSFT +23.0%, NVDA +21.8%, AVGO +6.3%, VOO +6.2%. Why Hold, trigger by trigger: (1) Position cap - no breach; VOO is largest at $1,358.54 vs a $1,368.75 cap (24.81%). (2) Cash floor - back above the floor at 5.04% vs 5% ($273.75), because the equity book shrank. (3) Deployable size - only $1.96 is free above the 5% floor, too small to trade. (4) Thesis falsification - none. The AVGO and NVDA declines came from a sector-wide reaction to a third-party (OpenAI) revenue report, not from company-specific guidance cuts or earnings misses; hyperscaler capex plans are unchanged so far. Selling into a sentiment-driven drawdown would lock in a taxable event and 0.10% slippage without new information. Buying the chip dip was also considered and declined: there is no deployable cash, and the pledge not to add to semiconductor exposure (NVDA + AVGO now 23.56%) stands. If AI-spending doubts grow into actual capex cuts at Microsoft, Alphabet or Meta, the AVGO/NVDA theses will be re-examined. GOOGL Q3 earnings remain due October 27. No contribution is due today (October 9 UTC): October already has its October 1 deposit, no scheduled date was skipped, and the next $250 contribution is October 15. Quotes: Yahoo Finance v8 chart regularMarketPrice for the 4:00 PM EDT October 8, 2026 close (regularMarketTime 20:00 UTC), fetched fresh after the close for all six holdings, plus index levels (^GSPC, ^IXIC) from the same source; market drivers cross-checked against Yahoo Finance and CNBC market wraps and 24/7 Wall St. chip-sector coverage for October 8. No fallback or stale pricing was used. Ledger replayed clean with zero warnings. Cash reproduces exactly at $275.70962253 from the $1,000.00 StartingValue plus $3,750.00 across 15 deposits, minus buy notionals and plus sell notionals (fills include 0.10% slippage). Positions and CashBalance were overwritten from replay; replay matched the prior snapshot with zero drift, so no Reconcile entry was needed.

Hold on Wednesday October 7, 2026, after the U.S. close - no buy or sell. Portfolio value $5,538.49 ($5,262.78 equities + $275.71 cash) against $4,750.00 contributed, +16.60%, up $6.21 or +0.11% from the prior run's $5,532.28. Tape: mild pullback from records. The S&P 500 slipped 0.22% to 7,801.77, the Nasdaq Composite fell 0.22% to 27,538.69, and the Dow lost 0.66% to 51,179.87 as the 10-year Treasury yield climbed back to about 5.31%, oil rose back toward $100 a barrel, and investors weighed the Fed's September meeting minutes; bank stocks lagged on rate worries. Closes: AAPL $336.67 +0.91%, AVGO $376.51 +0.19%, GOOGL $350.50 +0.81%, MSFT $529.76 +0.09%, NVDA $237.47 -0.74%, VOO $714.34 -0.26% (vs October 6 closes). Weights: VOO 24.63%, MSFT 17.39%, GOOGL 15.59%, NVDA 13.83%, AAPL 13.26%, AVGO 10.32%, cash 4.98%. P/L on cost: NVDA +25.5%, GOOGL +25.3%, MSFT +24.7%, AAPL +21.6%, AVGO +11.1%, VOO +6.7%. Why Hold, trigger by trigger: (1) Position cap - no breach; VOO is largest at $1,364.39 vs a $1,384.62 cap (24.63%). (2) Cash floor - cash is 4.98%, $1.21 below the 5% floor ($276.92), purely from market appreciation of the equity book; no trade took cash below the floor. A ~$1 fractional trim to restore it was considered and declined: the floor applies 'when possible', the gap is immaterial, and a sale would only incur slippage and a taxable lot event. The October 15 $250 contribution will restore the floor. (3) Deployable size - none; no cash is free above the floor, so no buys. (4) Thesis falsification - none. The day's losses came from macro rate and oil pressure, not company-specific news; NVDA's -0.74% was a modest dip from all-time highs. GOOGL Q3 earnings remain due October 27. Semiconductor exposure (NVDA + AVGO) eased to 24.15%, and the pledge not to add to it is honored. A rotation was considered and declined: no position is over its cap, and a 0.20% round-trip slippage cost is not justified by a 0.2% index dip. No contribution is due today (October 8 UTC): October already has its October 1 deposit, no scheduled date was skipped, and the next $250 contribution is October 15. Quotes: Yahoo Finance v8 chart regularMarketPrice for the 4:00 PM EDT October 7, 2026 close (regularMarketTime 20:00 UTC), fetched fresh after the close for all six holdings, plus index levels (^GSPC, ^IXIC) from the same source; index closes and market drivers cross-checked against Yahoo Finance, CNBC and TheStreet market wraps for October 7. No fallback or stale pricing was used. Ledger replayed clean with zero warnings. Cash reproduces exactly at $275.70962253 from the $1,000.00 StartingValue plus $3,750.00 across 15 deposits, minus buy notionals and plus sell notionals (fills include 0.10% slippage). Positions and CashBalance were overwritten from replay; replay matched the prior snapshot with zero drift, so no Reconcile entry was needed.

Hold on Tuesday October 6, 2026, after the U.S. close - no buy or sell. Portfolio value $5,532.28 ($5,256.57 equities + $275.71 cash) against $4,750.00 contributed, +16.47%, up $40.78 or +0.74% from the prior run's $5,491.50. Tape: risk-on, broad gains. The S&P 500 rose 0.58% to 7,818.93 and the Nasdaq Composite added 0.45% to 27,599.89, another record close, extending the rally that followed last week's soft September payrolls print. Closes: AAPL $333.63 +0.22%, AVGO $375.81 +3.67%, GOOGL $347.68 +0.35%, MSFT $529.30 +0.78%, NVDA $239.24 +0.14%, VOO $716.20 +0.54% (vs October 5 closes). Weights: VOO 24.73%, MSFT 17.39%, GOOGL 15.49%, NVDA 13.95%, AAPL 13.15%, AVGO 10.31%, cash 4.98%. P/L on cost: NVDA +26.5%, MSFT +24.6%, GOOGL +24.3%, AAPL +20.5%, AVGO +10.9%, VOO +6.9%. Why Hold, trigger by trigger: (1) Position cap - no breach; VOO is largest at $1,367.94 vs a $1,383.07 cap (24.73%). (2) Cash floor - cash is 4.98%, $0.90 below the 5% floor ($276.61). This came from market appreciation, not from a buy; no trade took cash under the floor. A trim of about $1 to restore it was considered and declined: the floor applies 'when possible', the gap is immaterial, and a sub-$1 fractional sale only adds slippage and a taxable lot event. The October 15 $250 contribution will restore the floor. (3) Deployable size - none; no cash is free above the floor, so no buys. (4) Thesis falsification - none. AVGO's +3.67% led the book on continued AI-semiconductor strength, with no adverse company-specific news for any holding; GOOGL Q3 earnings remain due October 27. Semiconductor exposure (NVDA + AVGO) rose to 24.26% through price gains only, and the pledge not to add to it is honored. A rotation was considered and declined: no position is over its cap, and a 0.20% round-trip slippage cost buys nothing on a broad up day. No contribution is due today (October 7 UTC): October already has its October 1 deposit, no scheduled date was skipped, and the next $250 contribution is October 15. Quotes: Yahoo Finance v8 chart regularMarketPrice for the 4:00 PM EDT October 6, 2026 close (regularMarketTime 20:00 UTC), fetched fresh after the close for all six holdings, plus index levels (^GSPC, ^IXIC) from the same source. A web news search returned only older, undated market wraps, so this note cites no news headlines for October 6 and relies on the price data. No fallback or stale pricing was used. Ledger replayed clean with zero warnings. Cash reproduces exactly at $275.70962253 from the $1,000.00 StartingValue plus $3,750.00 across 15 deposits, minus buy notionals and plus sell notionals (fills include 0.10% slippage). Positions and CashBalance were overwritten from replay; replay matched the prior snapshot with zero drift, so no Reconcile entry was needed.

Hold on Monday October 5, 2026, after the U.S. close - no buy or sell. Portfolio value $5,491.50 ($5,215.79 equities + $275.71 cash) against $4,750.00 contributed, +15.61%, up $122.01 or +2.27% from the last recorded snapshot of $5,369.49 (October 1 close; no run was recorded for Friday October 2). Tape: risk-on. The S&P 500 rose 0.66% to 7,773.95 and the Nasdaq Composite gained 1.05% to a record close of 27,477.31; the Dow added 0.18% to 51,267.90. A weak September payrolls print (+29,000, well below expectations) eased worries about an October Fed hike. Closes: AAPL $332.89 -0.24%, AVGO $362.51 +2.08%, GOOGL $346.47 +0.86%, MSFT $525.18 +1.48%, NVDA $238.90 +2.12%, VOO $712.32 +0.68% (vs October 2 closes). Weights: VOO 24.78%, MSFT 17.39%, GOOGL 15.55%, NVDA 14.03%, AAPL 13.22%, AVGO 10.02%, cash 5.02%. P/L on cost: NVDA +26.3%, GOOGL +23.9%, MSFT +23.6%, AAPL +20.2%, AVGO +7.0%, VOO +6.3%. Why Hold, trigger by trigger: (1) Position cap - no breach; VOO is largest at $1,360.53 vs a $1,372.87 cap (24.78%). (2) Cash floor - satisfied but tight at 5.02% vs 5%; the rally grew the base faster than cash. (3) Deployable size - only $1.13 is free above the 5% floor, too small to trade. (4) Thesis falsification - none; no holding had company-specific adverse news, and gains were broad. A sell-to-fund rotation was considered and declined: no position is over its cap, and a 0.20% round-trip slippage cost buys nothing on a broad up day. The pledge not to add to aggregate semiconductor exposure (NVDA + AVGO 24.05%) is honored. No contribution is due today (October 6 UTC): October already has its October 1 deposit, no scheduled date was skipped, and the next $250 contribution is October 15. Quotes: Yahoo Finance v8 chart regularMarketPrice for the 4:00 PM EDT October 5, 2026 close (regularMarketTime 20:00 UTC), fetched fresh after the close for all six holdings; index levels cross-checked against Yahoo/TheStreet market wraps. No fallback or stale pricing was used. Ledger replayed clean with zero warnings. Cash reproduces exactly at $275.70962253 from the $1,000.00 StartingValue plus $3,750.00 across 15 deposits, minus buy notionals and plus sell notionals (fills include 0.10% slippage). Positions and CashBalance were overwritten from replay; replay matched the prior snapshot with zero drift, so no Reconcile entry was needed.

Hold on Thursday October 1, 2026, after the U.S. close - no buy or sell. Portfolio value $5,369.49 ($5,093.78 equities + $275.71 cash) against $4,750.00 contributed, +13.04%, down $21.08 or -0.39% from the prior run's $5,390.57. Tape: flat-to-up. The S&P 500 rose 0.20% to 7,666.45 and the Nasdaq Composite added 0.04% to 26,871.60 as a rebound in Treasuries eased rate pressure after the 10-year hit 5.29%, though elevated energy costs keep inflation worries alive. Closes: AAPL $330.32 -0.81%, AVGO $343.64 -2.15%, GOOGL $338.24 -1.70%, MSFT $512.80 -0.02%, NVDA $230.86 +1.09%, VOO $702.35 +0.21% (vs September 30 closes). Weights: VOO 24.98%, MSFT 17.36%, GOOGL 15.52%, NVDA 13.87%, AAPL 13.42%, AVGO 9.71%, cash 5.13%. Why Hold, trigger by trigger: (1) Position cap - no breach, but VOO is at 24.98% ($1,341.49 vs a $1,342.37 cap); no further VOO buys until the weight drifts lower or the October 15 contribution enlarges the base. A trim was considered and declined: the cap is not exceeded, and selling to shave $1 of headroom would only pay slippage. (2) Cash floor - satisfied at 5.13% vs 5%. (3) Deployable size - only $7.24 is free above the 5% floor, after yesterday's deployment of the October 1 contribution; too small to trade. (4) Thesis falsification - none. GOOGL (-1.70%) and AVGO (-2.15%) declined without company-specific adverse news; GOOGL Q3 earnings remain due October 27. Pledge not to add to semiconductor exposure (NVDA + AVGO 23.58%) honored. No contribution is due: the October 1 deposit is already logged (one Deposit this month), no date was skipped, and the next $250 contribution is October 15. Quotes: Yahoo Finance v8 chart regularMarketPrice for the 4:00 PM EDT October 1, 2026 close (regularMarketTime 20:00 UTC), fetched fresh after the close for all six holdings; index levels cross-checked against TheStreet/Yahoo market wrap. No fallback or stale pricing was used. Ledger replayed clean with zero warnings. Cash reproduces exactly at $275.70962253 from the $1,000.00 StartingValue plus $3,750.00 across 15 deposits, minus buy notionals and plus sell notionals (fills include 0.10% slippage). Positions and CashBalance were overwritten from replay; replay matched the prior snapshot with zero drift, so no Reconcile entry was needed.

Buy 0.189 shares of GOOGL at $344.42408, a fill of the $344.08 regular-session close for Wednesday September 30, 2026 plus the 0.10% slippage policy, for $65.10. Add to Alphabet: GOOGL rose 0.93% to $344.08 as the Nasdaq gained 0.24% after softer-than-expected September PCE inflation. Search plus Cloud AI momentum remain intact, and at ~14.5% weight there is room under the 25% cap. This keeps new tech money in non-semiconductor names, honoring the pledge not to add to NVDA+AVGO (~23.6% combined). Quote: Yahoo Finance v8 chart regularMarketPrice for the 4:00 PM EDT September 30, 2026 close (regularMarketTime 20:00 UTC), fetched fresh after the close.

Buy 0.240 shares of AAPL at $333.35302, a fill of the $333.02 regular-session close for Wednesday September 30, 2026 plus the 0.10% slippage policy, for $80.00. Add to Apple on weakness: AAPL closed $333.02, ~2.4% below its Sept 28 level after the Bank of America AI-shopping-agent note, which is a speculative long-range risk, not a change to iPhone demand or earnings. At ~12.0% AAPL is the smallest megacap weight; this lifts it toward ~13.5%. Consensus targets near $340 leave modest upside, and the services cash flow is a buffer in a high-rate tape. Quote: Yahoo Finance v8 chart regularMarketPrice for the 4:00 PM EDT September 30, 2026 close (regularMarketTime 20:00 UTC), fetched fresh after the close.

Buy 0.135 shares of VOO at $701.56086, a fill of the $700.86 regular-session close for Wednesday September 30, 2026 plus the 0.10% slippage policy, for $94.71. Core S&P 500 add with half of the Oct 1 contribution's deployable cash. VOO is the book's lowest-gain core holding (+5.0% on cost) and dipped to $700.86 as the S&P 500 fell 0.25% on the last day of a losing September; post-trade weight stays just under the 25% cap (~24.8%). Broad exposure is the right place for new money while 10-year yields at 5.29% pressure single-name long-duration multiples. Quote: Yahoo Finance v8 chart regularMarketPrice for the 4:00 PM EDT September 30, 2026 close (regularMarketTime 20:00 UTC), fetched fresh after the close.

Scheduled recurring contribution of $250.00 for October 1, 2026 (first of two October deposits). No Deposit exists for this UTC date, and September's two deposits (Sept 1, Sept 15) were complete with none skipped, so exactly one contribution is added. Cash immediately available for investment under the standard sizing rules.

Hold on Tuesday September 29, 2026, after the U.S. close - no buy or sell. Portfolio value $5,124.43 ($4,858.91 equities + $265.52 cash) against $4,500.00 contributed, +13.88%, down $21.07 or -0.41% from Monday's $5,145.50. Tape: a second straight modest decline. The S&P 500 fell 0.16% to 7,670.84, the Nasdaq Composite slipped 0.09% to 26,797.54, and the Dow fell 0.26% to 51,349.92, all closing off their lows. The 30-year Treasury yield climbed to its highest level since 2002 as elevated energy costs kept inflation and October Fed hike worries alive. Closes: AAPL $329.40 -2.66%, AVGO $355.10 +1.58%, GOOGL $340.92 -0.53%, MSFT $508.96 -0.05%, NVDA $227.21 -0.72%, VOO $702.46 -0.16%. Weights: VOO 24.33%, MSFT 18.06%, GOOGL 15.14%, NVDA 14.30%, AAPL 12.48%, AVGO 10.52%, cash 5.18%. P/L on cost: GOOGL +24.3%, AAPL +22.1%, NVDA +20.1%, MSFT +19.8%, VOO +5.3%, AVGO +4.8%. AAPL was the book's worst name: Bank of America warned that AI shopping agents (specifically Meta's) could pull online commerce away from the iPhone ecosystem, and investors weighed reports that CEO John Ternus is considering management and product-process changes. Why Hold, trigger by trigger: (1) Position cap - no breach; VOO is largest at $1,246.87 vs a $1,281.11 cap (24.33%). (2) Cash floor - satisfied at 5.18% vs 5%. (3) Deployable size - only $9.30 is free above the 5% floor, too small to be worth trading. (4) Thesis falsification - none. The AAPL note is an analyst's speculative long-range risk about AI agents, not a change in Apple's earnings or iPhone demand, and a single 2.7% drop does not break a position still +22% on cost. A sell-to-fund rotation out of AAPL was considered and declined: selling into a news-driven one-day drop means locking in the move and paying 0.20% round-trip slippage on a thesis that has not changed; the prior condition for an AAPL-to-GOOGL swap (AAPL rich vs targets, GOOGL discounted) has weakened now that AAPL has fallen back near its ~$340 consensus target. The pledge not to add to aggregate semiconductor exposure (NVDA + AVGO 24.82%) is honored. No contribution is due today (September 30 UTC): September already has its two scheduled deposits (Sept 1 and Sept 15), none was skipped, and the duplicate/monthly guard blocks a third. The next $250 contribution is October 1, when the standing commitment to deploy the reserve comes due, with the September jobs report following Friday. Quotes: Yahoo Finance v8 chart regularMarketPrice for the 4:00 PM EDT September 29, 2026 close (regularMarketTime 20:00 UTC), fetched fresh after the close for all six holdings; day changes are vs the September 28 closes. No fallback or stale pricing was used. Ledger replayed clean with zero warnings. Cash reproduces exactly at $265.52121455 from the $1,000.00 StartingValue plus $3,500.00 across 14 deposits, minus buy notionals and plus sell notionals (fills include 0.10% slippage). Positions and CashBalance were overwritten from replay; replay matched the prior snapshot with zero drift, so no Reconcile entry was needed.

Hold on Monday September 28, 2026, after the U.S. close - no buy or sell. Portfolio value $5,145.50 ($4,879.98 equities + $265.52 cash) against $4,500.00 contributed, +14.34%, up $32.83 from the last recorded snapshot of $5,112.67 on September 24 (no run was recorded for Friday September 25, when the book closed near $5,171.42 on a MSFT +3.66% day; Monday gave back $25.92 or -0.50%). Tape: risk-off. The S&P 500 fell 0.77% to 7,683.69, giving back its September gains; the Nasdaq Composite fell 0.92% to 26,820.38; the Dow fell 0.67% to 51,481.51. The 10-year Treasury yield rose 6 bp to 5.24%, its highest since 2007, and the 30-year reached 5.56%, with money markets adding to October Fed hike bets. Brent held near $105 after President Trump rejected an Iranian proposal on the Strait of Hormuz. VIX rose 8.2% to 16.09. Chip stocks led tech lower, but NVDA rose after launching an AI safety platform and raising its buyback. Closes: AAPL $338.40 -0.78%, AVGO $349.57 -0.92%, GOOGL $342.75 -0.34%, MSFT $509.22 -1.35%, NVDA $228.86 +1.68%, VOO $703.61 -1.01% (day changes vs the September 25 closes). Weights: VOO 24.27%, MSFT 17.99%, GOOGL 15.15%, NVDA 14.34%, AAPL 12.77%, AVGO 10.31%, cash 5.16%. P/L on cost: AAPL +25.4%, GOOGL +25.0%, NVDA +21.0%, MSFT +19.8%, VOO +5.4%, AVGO +3.2%. Why Hold, trigger by trigger: (1) Position cap - no breach; VOO is largest at $1,248.91 vs a $1,286.38 cap (24.27%). (2) Cash floor - satisfied at 5.16% vs 5%. (3) Deployable size - only $8.25 is free above the 5% floor, too small to be worth trading. (4) Thesis falsification - none; no holding had company-specific adverse news, and NVDA's news was positive. A sell-to-fund rotation was considered and declined: rising long yields hit all long-duration holdings roughly equally, so swapping one megacap for another pays 0.20% round-trip slippage without reducing the rate risk. The pledge not to add to aggregate semiconductor exposure (NVDA + AVGO 24.65%) is honored. With PCE inflation Wednesday and the September jobs report Friday, deployment waits for the October 1 contribution. No contribution is due: September already has its two scheduled deposits (Sept 1 and Sept 15), none was skipped, and the next is October 1. Quotes: Yahoo Finance v8 chart regularMarketPrice for the 4:00 PM EDT September 28, 2026 close, fetched fresh after the close for all six holdings. No fallback or stale pricing was used. Ledger replayed clean with zero warnings. Cash reproduces exactly at $265.52121455 from the $1,000.00 StartingValue plus $3,500.00 across 14 deposits, minus buy notionals and plus sell notionals (fills include 0.10% slippage). Positions and CashBalance were overwritten from replay; replay matched the prior snapshot with zero drift, so no Reconcile entry was needed.

Hold on Thursday September 24, 2026, after the U.S. close - no buy or sell. Portfolio value $5,112.67 ($4,847.15 equities + $265.52 cash) against $4,500.00 contributed, +13.61%, down $7.78 or -0.15% from September 23's $5,120.45. Tape: flat. The S&P 500 slipped 0.02% to 7,704.13 and the Nasdaq Composite was essentially unchanged at 26,939.37 (+0.01%), a pause after Wednesday's risk-off session driven by the 5-year Treasury yield reaching 5%. Closes: AAPL $335.92 -0.33%, AVGO $350.36 -1.30%, GOOGL $342.36 +1.34%, MSFT $497.93 -0.53%, NVDA $224.58 -0.41%, VOO $706.99 -0.09%. Weights: VOO 24.55%, MSFT 17.71%, GOOGL 15.23%, NVDA 14.17%, AAPL 12.75%, AVGO 10.4%, cash 5.19%. Why Hold, trigger by trigger: (1) Position cap - no breach; VOO is largest at 24.55% ($1,254.91 vs a $1,278.17 cap). (2) Cash floor - satisfied at 5.19% vs 5%. (3) Deployable size - only $9.89 is free above the 5% floor after Wednesday's GOOGL add, too small to make any trade worth doing. (4) Thesis falsification - none; no holding had company-specific adverse news. GOOGL recovered 1.34% of Wednesday's 3.80% drop, which is consistent with that dip-buy; AVGO's -1.30% was ordinary semiconductor weakness, not a thesis event. A sell-to-fund reallocation (the open AAPL-to-GOOGL idea) was reconsidered and again declined: GOOGL bounced today, so the dislocation has narrowed, and a 0.20% round-trip slippage cost on a flat tape isn't justified. The standing pledge not to add to aggregate semiconductor exposure (NVDA + AVGO now 24.57%) is honored. No contribution is due: September already has its two scheduled deposits (Sept 1 and Sept 15), none was skipped, and the next is October 1, when the $250 contribution comes in and the commitment to deploy the reserve is due. Quotes: Yahoo Finance v8 chart regularMarketPrice for the 4:00 PM EDT September 24, 2026 close, fetched fresh after the close for all six holdings; each day change reconciles against the independently fetched September 23 closes. No fallback or stale pricing was used. Ledger replayed clean with zero warnings. Cash reproduces exactly at $265.52121455 from the $1,000.00 StartingValue plus $3,500.00 across 14 deposits, minus buy notionals and plus sell notionals (fills include 0.10% slippage). Positions and CashBalance were overwritten from replay; replay matched the prior snapshot with zero drift, so no Reconcile entry was needed.

Buy 0.180 shares of GOOGL at $338.16783, a fill of the $337.83 regular-session close for Wednesday September 23, 2026 plus the 0.10% slippage policy, for $60.87020940, lifting the position to 2.275 shares. Why: the September 17 run held back cash specifically to buy a dislocation, and the September 22 run said it would move toward GOOGL only on a weaker session. Today was that session. GOOGL fell 3.80% from $351.16 while the S&P 500 lost 0.75% to 7,706.03 and the Nasdaq lost 1.13% to 26,936.04. The market sold off after the 5-year Treasury yield reached 5% for the first time since 2007 and oil prices rose. The drop was broad (AI-spending, regulatory and competition headlines) with no company-specific event that breaks the thesis. It puts GOOGL about 20% below the $422 consensus analyst target, with Q3 earnings due October 27. Sizing is set by the 5% cash floor, not by conviction: the order spends only the cash above the floor, leaving about 5.19% cash. GOOGL moves to about 15.0% of the book and VOO (24.53%) stays the largest holding, under the 25% cap. This trade adds no semiconductor exposure (NVDA + AVGO 24.73%). The AAPL-to-GOOGL swap is still not done: AAPL fell 0.80% on the day, and paying the 0.20% round-trip cost to chase a one-day move is not justified. Any further deployment waits for the October 1 contribution.

Hold on Tuesday September 22, 2026, after the U.S. close - no buy or sell. Portfolio value $5,183.55 ($4,857.16 equities + $326.39 cash) against $4,500.00 contributed, +15.19%, down $5.39 or -0.10% on the day, a hair below Monday's high-water mark of $5,188.94. Tape: mixed and quiet. The S&P 500 was flat at 7,764.64 (-0.06 points), the Nasdaq added 0.45% to a second straight record close of 27,244.28, the Dow fell 0.36% on a bank selloff (JPMorgan -3.35%), and the Russell 2000 rose 0.51%; VIX fell to 14.21. Chip stocks rose for a sixth straight day on AI-infrastructure enthusiasm, and Brent settled near $99 after U.S.-Iran talks in New York were described as 'very good'. Closes: AAPL $339.75 +0.23%, AVGO $364.54 +0.52%, GOOGL $351.16 -1.07%, MSFT $498.00 -0.72%, NVDA $228.87 +0.66%, VOO $712.78 +0.00%. Weights: VOO 24.41%, MSFT 17.47%, NVDA 14.24%, GOOGL 14.19%, AAPL 12.72%, AVGO 10.68%, cash 6.30%. Why Hold, trigger by trigger: (1) Position cap - no breach; VOO is largest at 24.41% ($1,265.18 vs $1,295.89 cap). (2) Cash floor - no breach, 6.30% vs 5%. (3) Deployable size - only $67.21 is free above the 5% floor, about 1.3% of the book; buying into a Nasdaq record close with that sliver would spend the whole buffer for negligible return impact. (4) Thesis falsification - none; no holding had adverse company-specific news. GOOGL -1.07% and MSFT -0.72% were ordinary give-back after Monday's surge, not a thesis event. The standing commitment not to add to aggregate semiconductor exposure (NVDA + AVGO now 24.91%) is honored. The AAPL-to-GOOGL reallocation idea from the prior run was reconsidered: GOOGL's pullback to $351.16 slightly widens its discount to analyst targets, but AAPL rose, the tape was not the weaker session set as the condition, and a 0.20% round-trip cost for a one-day move is still chasing; condition remains open. No contribution is due: September already has its two scheduled deposits (Sept 1 and Sept 15), none was skipped, and the next is October 1, when the $250 contribution brings cash to about 10.6% of the book and the open commitment to deploy the reserve comes due. Quotes: Yahoo Finance v8 chart regular-session closes for September 22, 2026 4:00 PM EDT, fetched fresh after the close; VOO's unchanged $712.78 close was verified against intraday 1-minute bars and the S&P 500's flat -0.06 point close. No fallback or stale pricing used. Ledger replayed clean with zero warnings; cash reproduces exactly at $326.39142395 from the $1,000.00 StartingValue plus $3,500.00 across 14 deposits less buy notionals plus sell notionals (fills inclusive of 0.10% slippage). Positions and CashBalance overwritten from replay; replay matched the prior snapshot with zero drift, so no Reconcile entry was required.