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optimality or tax treatment." } }, { "budget_per_account": 2500, "plan": { "schema_version": 1, "evidence_type": "hypothetical", "snapshot_sha256": "de6681794519f83629843201a1405572f5811e7df28904e96a61ce146e338abd", "as_of": "2026-10-14", "policy": { "cost_bps": 5.0, "cost_aversion": 0.05, "direction": "sell initially overweight or blocked; buy initially underweight", "tax": "positive-gain reserve; no loss credit or netting", "objective": "initial-NAV tracking variance + cost_aversion * (fee + tax reserve) / initial NAV" }, "accounts": [ { "account_id": "legacy-gains", "status": "optimal", "trades": [ { "side": "sell", "symbol": "US", "lot_id": "us-high-basis", "shares": 247.31765522785753 }, { "side": "buy", "symbol": "INTL", "lot_id": null, "shares": 317.4084930353702 }, { "side": "buy", "symbol": "BOND", "lot_id": null, "shares": 151.6547703744176 } ], "initial_nav": 85000.0, "ending_cash": 3173.344689513767, "ending_nav": 84477.48085593828, "modeled_fee": 27.883833605998014, 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"tracking_risk_after": 0.00015744608365907413, "objective_value": 5.390126641651151e-06 } ], "plan_id": "9069a63d54b4f6b9a7fbeef9eb8bde5954f6139ca6412376b8d14a45ab3e50a7" }, "validation": { "passed": true, "controls_passed": 109, "controls": [ "explicit_hypothetical_scope", "source_snapshot_fingerprint", "plan_payload_fingerprint", "contemporaneous_quotes", "strictly_prior_risk", "independent_fee_and_objective_policy", "valid_authorized_fee_rate", "valid_authorized_cost_aversion", "unique_price_labels", "positive_finite_quotes", "risk_dimensions_and_values", "risk_symmetric_psd", "one_plan_per_account", "legacy-gains:unique_source_lots", "legacy-gains:target_labels", "legacy-gains:target_budget", "legacy-gains:nonnegative_cash_policy", "legacy-gains:known_restrictions", "legacy-gains:valid_caps", "legacy-gains:valid_lot:us-low-basis", "legacy-gains:acquisition_chronology:us-low-basis", "legacy-gains:valid_lot:us-high-basis", "legacy-gains:acquisition_chronology:us-high-basis", "legacy-gains:valid_lot:intl-underwater", "legacy-gains:acquisition_chronology:intl-underwater", "legacy-gains:valid_lot:bond-flat", "legacy-gains:acquisition_chronology:bond-flat", "legacy-gains:positive_nav", "legacy-gains:valid_trade", "legacy-gains:no_duplicate_trade", "legacy-gains:sale_lot_exists", "legacy-gains:sale_lot_symbol", "legacy-gains:no_oversell", "legacy-gains:authorized_sale_direction", "legacy-gains:valid_trade", "legacy-gains:no_duplicate_trade", "legacy-gains:new_purchase_not_existing_lot", "legacy-gains:authorized_purchase_direction", "legacy-gains:valid_trade", "legacy-gains:no_duplicate_trade", "legacy-gains:new_purchase_not_existing_lot", "legacy-gains:authorized_purchase_direction", "legacy-gains:solvent_ending_nav", "legacy-gains:no_short_positions", "legacy-gains:independent_account_cash_floor", "legacy-gains:positive_gain_tax_budget", "legacy-gains:self_financing_identity", "legacy-gains:post_cost_cap:US", "legacy-gains:post_cost_cap:INTL", "legacy-gains:post_cost_cap:BOND", "legacy-gains:reported_initial_nav", "legacy-gains:reported_ending_cash", "legacy-gains:reported_ending_nav", "legacy-gains:reported_modeled_fee", "legacy-gains:reported_tax_reserve", "legacy-gains:ending_labels", "legacy-gains:ending_value:US", "legacy-gains:ending_weight:US", "legacy-gains:ending_value:INTL", "legacy-gains:ending_weight:INTL", "legacy-gains:ending_value:BOND", "legacy-gains:ending_weight:BOND", "legacy-gains:risk_before", "legacy-gains:risk_after", "legacy-gains:reported_objective", "cash-first:unique_source_lots", "cash-first:target_labels", "cash-first:target_budget", "cash-first:nonnegative_cash_policy", "cash-first:known_restrictions", "cash-first:valid_caps", "cash-first:valid_lot:us-existing", "cash-first:acquisition_chronology:us-existing", "cash-first:valid_lot:intl-existing", "cash-first:acquisition_chronology:intl-existing", "cash-first:valid_lot:bond-existing", "cash-first:acquisition_chronology:bond-existing", "cash-first:positive_nav", "cash-first:valid_trade", "cash-first:no_duplicate_trade", "cash-first:new_purchase_not_existing_lot", "cash-first:authorized_purchase_direction", "cash-first:valid_trade", "cash-first:no_duplicate_trade", "cash-first:new_purchase_not_existing_lot", "cash-first:authorized_purchase_direction", "cash-first:solvent_ending_nav", "cash-first:no_short_positions", "cash-first:independent_account_cash_floor", "cash-first:positive_gain_tax_budget", "cash-first:self_financing_identity", "cash-first:post_cost_cap:US", "cash-first:post_cost_cap:INTL", "cash-first:post_cost_cap:BOND", "cash-first:reported_initial_nav", "cash-first:reported_ending_cash", "cash-first:reported_ending_nav", "cash-first:reported_modeled_fee", "cash-first:reported_tax_reserve", "cash-first:ending_labels", "cash-first:ending_value:US", "cash-first:ending_weight:US", "cash-first:ending_value:INTL", "cash-first:ending_weight:INTL", "cash-first:ending_value:BOND", "cash-first:ending_weight:BOND", "cash-first:risk_before", "cash-first:risk_after", "cash-first:reported_objective" ], "scope": "Independent accounting and feasibility; not independent certification of solver optimality or tax treatment." } }, { "budget_per_account": 10000, "plan": { "schema_version": 1, "evidence_type": "hypothetical", "snapshot_sha256": "a35fb751873a977579bb8e09e62800edbfb6e838078017836b1880615e2588c7", "as_of": "2026-10-14", "policy": { "cost_bps": 5.0, "cost_aversion": 0.05, "direction": "sell initially overweight or blocked; buy initially underweight", "tax": "positive-gain reserve; no loss credit or netting", "objective": "initial-NAV tracking variance + cost_aversion * (fee + tax reserve) / initial NAV" }, "accounts": [ { "account_id": "legacy-gains", "status": "optimal", "trades": [ { "side": "sell", "symbol": "US", "lot_id": "us-high-basis", "shares": 247.31765534238292 }, { "side": "buy", "symbol": "INTL", "lot_id": null, "shares": 317.408492880386 }, { "side": "buy", "symbol": "BOND", "lot_id": null, "shares": 151.654769201717 } ], "initial_nav": 85000.0, "ending_cash": 3173.3448258133117, "ending_nav": 84477.48085576601, "modeled_fee": 27.88383354921465, "tax_reserve": 494.6353106847658, "ending_values": { "US": 35268.23446576171, "INTL": 20870.424644019302, "BOND": 25165.4769201717 }, "ending_weights": { "US": 0.41748681552161215, "INTL": 0.24705311323916912, "BOND": 0.29789568374012454 }, "tracking_risk_before": 0.06370062033561266, "tracking_risk_after": 0.003298501679317715, "objective_value": 0.00031511592475785686 }, { "account_id": "cash-first", "status": "optimal", "trades": [ { "side": "buy", "symbol": "INTL", "lot_id": null, "shares": 274.72326451836045 }, { "side": "buy", "symbol": "BOND", "lot_id": null, "shares": 23.54596621678379 } ], "initial_nav": 75000.0, "ending_cash": 3901.1947724798015, "ending_nav": 74991.95462007621, "modeled_fee": 8.045379923798201, "tax_reserve": 0.0, "ending_values": { "US": 30000.0, "INTL": 18736.163225918022, "BOND": 22354.596621678378 }, "ending_weights": { "US": 0.4000429132963105, "INTL": 0.2498423106963815, "BOND": 0.2980932652700026 }, "tracking_risk_before": 0.04597734949588402, "tracking_risk_after": 0.000157446095604459, "objective_value": 5.390126641651174e-06 } ], "plan_id": "08bda2fdb2bcf15015154abb5f68fef9142b3c35cc0ed5b3c2d140373d7d6555" }, "validation": { "passed": true, "controls_passed": 109, "controls": [ "explicit_hypothetical_scope", "source_snapshot_fingerprint", "plan_payload_fingerprint", "contemporaneous_quotes", "strictly_prior_risk", "independent_fee_and_objective_policy", "valid_authorized_fee_rate", "valid_authorized_cost_aversion", "unique_price_labels", "positive_finite_quotes", "risk_dimensions_and_values", "risk_symmetric_psd", "one_plan_per_account", "legacy-gains:unique_source_lots", "legacy-gains:target_labels", "legacy-gains:target_budget", "legacy-gains:nonnegative_cash_policy", "legacy-gains:known_restrictions", "legacy-gains:valid_caps", "legacy-gains:valid_lot:us-low-basis", "legacy-gains:acquisition_chronology:us-low-basis", "legacy-gains:valid_lot:us-high-basis", "legacy-gains:acquisition_chronology:us-high-basis", "legacy-gains:valid_lot:intl-underwater", "legacy-gains:acquisition_chronology:intl-underwater", "legacy-gains:valid_lot:bond-flat", "legacy-gains:acquisition_chronology:bond-flat", "legacy-gains:positive_nav", "legacy-gains:valid_trade", "legacy-gains:no_duplicate_trade", "legacy-gains:sale_lot_exists", "legacy-gains:sale_lot_symbol", "legacy-gains:no_oversell", "legacy-gains:authorized_sale_direction", "legacy-gains:valid_trade", "legacy-gains:no_duplicate_trade", "legacy-gains:new_purchase_not_existing_lot", "legacy-gains:authorized_purchase_direction", "legacy-gains:valid_trade", "legacy-gains:no_duplicate_trade", "legacy-gains:new_purchase_not_existing_lot", "legacy-gains:authorized_purchase_direction", "legacy-gains:solvent_ending_nav", "legacy-gains:no_short_positions", "legacy-gains:independent_account_cash_floor", "legacy-gains:positive_gain_tax_budget", "legacy-gains:self_financing_identity", "legacy-gains:post_cost_cap:US", "legacy-gains:post_cost_cap:INTL", "legacy-gains:post_cost_cap:BOND", "legacy-gains:reported_initial_nav", "legacy-gains:reported_ending_cash", "legacy-gains:reported_ending_nav", "legacy-gains:reported_modeled_fee", "legacy-gains:reported_tax_reserve", "legacy-gains:ending_labels", "legacy-gains:ending_value:US", "legacy-gains:ending_weight:US", "legacy-gains:ending_value:INTL", "legacy-gains:ending_weight:INTL", "legacy-gains:ending_value:BOND", "legacy-gains:ending_weight:BOND", "legacy-gains:risk_before", "legacy-gains:risk_after", "legacy-gains:reported_objective", "cash-first:unique_source_lots", "cash-first:target_labels", "cash-first:target_budget", "cash-first:nonnegative_cash_policy", "cash-first:known_restrictions", "cash-first:valid_caps", "cash-first:valid_lot:us-existing", "cash-first:acquisition_chronology:us-existing", "cash-first:valid_lot:intl-existing", "cash-first:acquisition_chronology:intl-existing", "cash-first:valid_lot:bond-existing", "cash-first:acquisition_chronology:bond-existing", "cash-first:positive_nav", "cash-first:valid_trade", "cash-first:no_duplicate_trade", "cash-first:new_purchase_not_existing_lot", "cash-first:authorized_purchase_direction", "cash-first:valid_trade", "cash-first:no_duplicate_trade", "cash-first:new_purchase_not_existing_lot", "cash-first:authorized_purchase_direction", "cash-first:solvent_ending_nav", "cash-first:no_short_positions", "cash-first:independent_account_cash_floor", "cash-first:positive_gain_tax_budget", "cash-first:self_financing_identity", "cash-first:post_cost_cap:US", "cash-first:post_cost_cap:INTL", "cash-first:post_cost_cap:BOND", "cash-first:reported_initial_nav", "cash-first:reported_ending_cash", "cash-first:reported_ending_nav", "cash-first:reported_modeled_fee", "cash-first:reported_tax_reserve", "cash-first:ending_labels", "cash-first:ending_value:US", "cash-first:ending_weight:US", "cash-first:ending_value:INTL", "cash-first:ending_weight:INTL", "cash-first:ending_value:BOND", "cash-first:ending_weight:BOND", "cash-first:risk_before", "cash-first:risk_after", "cash-first:reported_objective" ], "scope": "Independent accounting and feasibility; not independent certification of solver optimality or tax treatment." } } ], "incidents": [ { "id": "duplicate_instruction", "title": "Same sale appears twice", "status": "BLOCKED", "control": "legacy-gains:no_duplicate_trade", "correction": "Deduplicate by account, side, security and lot; recalculate the plan.", "clean_retest": "PASS" }, { "id": "oversell", "title": "Sale exceeds the selected lot", "status": "BLOCKED", "control": "legacy-gains:no_oversell", "correction": "Rebuild from current available shares; never borrow another account's lot.", "clean_retest": "PASS" }, { "id": "fee_understatement", "title": "Modeled fee reduced by $1", "status": "BLOCKED", "control": "legacy-gains:reported_modeled_fee", "correction": "Recalculate costs on purchases and sales, not only net exposure.", "clean_retest": "PASS" }, { "id": "tax_omission", "title": "Positive-gain reserve shown as zero", "status": "BLOCKED", "control": "legacy-gains:reported_tax_reserve", "correction": "Reconstruct gains by sold lot and input rate; do not silently net losses.", "clean_retest": "PASS" }, { "id": "cash_subsidy", "title": "Reported cash increased by $1", "status": "BLOCKED", "control": "legacy-gains:reported_ending_cash", "correction": "Reconcile each account separately; no cross-account subsidy.", "clean_retest": "PASS" }, { "id": "policy_override", "title": "Plan declares zero transaction costs", "status": "BLOCKED", "control": "independent_fee_and_objective_policy", "correction": "Compare against the independently supplied fee policy.", "clean_retest": "PASS" }, { "id": "stale_snapshot", "title": "Source cash changed after planning", "status": "BLOCKED", "control": "source_snapshot_fingerprint", "correction": "Rebuild and revalidate against the current snapshot.", "clean_retest": "PASS" }, { "id": "future_risk", "title": "Risk timestamp equals the decision date", "status": "BLOCKED", "control": "strictly_prior_risk", "correction": "Use an eligible strictly prior risk estimate.", "clean_retest": "PASS" } ], "operations": [ { "step": "Record external contribution, not investment profit", "duplicate": false, "revision": 1, "event_id": "deposit-1", "type": "cash_flow", "snapshot_sha256": "42693760f20cbef43af6b2e2f033351bafe17edf702a070d9da2dd4cc31695b2", "nav_before": 160000.0, "nav_after": 161500.0, "external_cash_flow": 1500.0, "modeled_fee": 0.0, "tax_reserve": 0.0, "investment_pnl": 0.0 }, { "step": "Replay identical contribution without applying twice", "duplicate": true, "event_revision": 1, "current_revision": 1, "original_result": { "duplicate": false, "event_id": "deposit-1", "external_cash_flow": 1500.0, "investment_pnl": 0.0, "modeled_fee": 0.0, "nav_after": 161500.0, "nav_before": 160000.0, "revision": 1, "snapshot_sha256": "42693760f20cbef43af6b2e2f033351bafe17edf702a070d9da2dd4cc31695b2", "tax_reserve": 0.0, "type": "cash_flow" } }, { "step": "Interrupt between journal write and commit", "status": "ROLLED BACK", "revision": 1 }, { "step": "Reopen and commit the checked plan once", "duplicate": false, "revision": 2, "event_id": "transition-1", "type": "transition", "snapshot_sha256": "cd554ce8488a3660084f528af21a31a4d61de8c52b3573bcb64988ba93137ad4", "nav_before": 161500.0, "nav_after": 160968.72919348077, "external_cash_flow": 0.0, "modeled_fee": 36.63549823261138, "tax_reserve": 494.6353082866085, "investment_pnl": -7.44648787076585e-12 }, { "step": "Retry the committed plan without executing again", "duplicate": true, "event_revision": 2, "current_revision": 2, "original_result": { "duplicate": false, "event_id": "transition-1", "external_cash_flow": 0.0, "investment_pnl": -7.44648787076585e-12, "modeled_fee": 36.63549823261138, "nav_after": 160968.72919348077, "nav_before": 161500.0, "revision": 2, "snapshot_sha256": "cd554ce8488a3660084f528af21a31a4d61de8c52b3573bcb64988ba93137ad4", "tax_reserve": 494.6353082866085, "type": "transition" } }, { "step": "Apply split with share/basis/value conservation", "duplicate": false, "revision": 3, "event_id": "split-1", "type": "split", "snapshot_sha256": "673127b5a8fd30a85e61af9d0b2edcc264f40a003960a5a003f5de31df224681", "nav_before": 160968.72919348077, "nav_after": 160968.72919348077, "external_cash_flow": 0.0, "modeled_fee": 0.0, "tax_reserve": 0.0, "investment_pnl": 0.0 } ], "source_sha256": { "transition_lab/__init__.py": "152981f750c4b52592a06165af7d584f82482c3369d9c9fe52766b103933e8d2", "transition_lab/challenger.py": "99408020ac66485c03d5a3b2fb57062ae89305964ae2ae23dcd66bb6379a30ea", "transition_lab/journal.py": "6d659336f4e29990b96149ce804022afae90175fbe0a2519f5cd7f90aff90b65", "transition_lab/model.py": "bb873f7cf371d462a61625077c93b14f08f522972ef5cbc5167d8a845338341e", "run_transition_lab.py": "03f46d2ac314b1cd1a3913ceb813a76929e8039288fbf6ad3fe3931cb5175a23", "examples/transition_accounts.json": "c99e8893530dec9fb86e39161cef78c993cb7431b57ec822a2450194d6f5a5fc" }, "limits": [ "Illustrative covariance and prices; not an empirical performance backtest.", "Positive-gain tax reserves, not comprehensive tax calculations or paid taxes.", "Direction-restricted fractional-share optimization; not unrestricted global tax-optimality.", "Local single-decision-date paper journal; no broker connection or live operating history.", "Calculation-path independence within one development process; no independent human certification." ] }