Portfolio · State Engine
Tax Intelligence
What any correction actually costs after taxData as of
Oct 5, 2026 · 4:00 PM ET
What changed
Unrealized gains are concentrated in the same low-basis technology and digital-asset lots any correction would sell.
Why it matters
Realized gains year to date already consume part of the tax budget, so lot selection changes the after-tax outcome more than trade size does.
Watch / decide
Harvestable losses can absorb a meaningful share of the balanced package's estimated tax consequence.
Confidence 91%
Realized YTD
$3.2M
Net realized gains
Unrealized gain
$24.5M
Taxable lots only
Unrealized loss
−$2.4M
Taxable lots only
Harvestable loss
$2.4M
Available to offset gains
Annual tax-cost budget
$1.3M
Long-term 23.8% · short-term 40.8%
Objective changes the candidate mix and the tax cost
Tax Impact of Proposed Rebalance
Clears both breaches
Research package: clears both soft breaches at a materially lower tax cost.
Estimated tax cost
$420K
Loss harvesting offsets up to $420K
Drift after
2.1 / 10
6.42.1
Turnover
3.4%
Share of portfolio traded
Tax budget used
34%
Annual tax-cost budget $1.3M
Candidate mix · 6 legs
SELLUS Technology XLKBlend of 2022 and 2026 lots$4.2M
REDUCEDigital Asset Policy Alignment (aggregate sleeve) DIGITALAsset-level tax-lot selection not yet specified$2.0M
SELLUS Cons. Discretionary XLYAlternative tax-harvest candidate — not part of the four-leg RB package$1.2M
BUYUS Utilities XLUNew position$1.8M
BUYUS Energy XLENew position$1.4M
RAISECash reserve CASHReserve build$1.0M
Where the exposure sits
Tax Position
Realized gains year to date$3.2M
Budget remaining before overshoot$493K
Largest low-basis lot$8.7M
Harvestable loss available$2.4M
Tax-deferred and exempt weight9.0%
Technology and digital-asset lots hold the largest embedded gains, so lot selection — not trade size — determines most of the after-tax outcome.