Flagship · Daily Note

Pulse

Tape +0.36%, book outperformed broadly — NVDA led, AVGO and KTOS dragged.

NVDA's +3.00% is clean confirmation on the compute pillar; nothing in today's move touches an unwind condition. AVGO's -4.71% is the drag worth naming — it is the book's largest single-day loser — but with AI revenue still running +143% YoY there is no named funder reversal here, just tape noise against a crowded name. CINF and V remain refused opens, the foundation sleeve is still unbuilt, and nothing else shifted vs the thesis carried since 8/25.

Conviction-lock actions

No conviction-lock refusals or overrides this run.