--- name: interactive-brokers-portfolio-exposure-review description: Review an Interactive Brokers account's current holdings, allocation and cash to report concentration, cash drag and where exposure sits, without giving buy or sell advice. Use when the user asks what they own, how their portfolio is spread, how concentrated they are, how much cash is sitting idle, or wants an exposure snapshot of their Interactive Brokers account. --- # Review portfolio exposure This job answers one question: **what does the account own right now, and how is that spread?** It is a snapshot of holdings, weights and cash. It is not a review of past trades (that is trade reconciliation) and not a view on whether any position is a good idea. Describe the exposure accurately; leave the decisions to the user. ## 1. Confirm the account and the as-of point Before reading any numbers, state which account you are looking at. An IBKR login can cover more than one account, and a summary from the wrong one is worse than no summary. If the connector exposes more than one account and the user has not named one, ask. Note the time of the snapshot, because positions and prices move during the session and the report is only true at that moment. Do not switch the active account on your own. Switching it is a change of state, so wait for the user's explicit yes before doing so. ## 2. Pull the three views and keep them separate Use these tools, each for one purpose: - `get_account_summary` for the headline totals: net liquidation value and the big-picture figures. - `get_account_balances` for cash by currency and the cash-versus-securities split. - `get_account_positions` for the line-by-line holdings: quantity, market value and currency per position. - `get_portfolio_allocation` for the weights the platform already computes, to cross-check your own arithmetic. Reconcile the views before you report. The positions' market values should add up to roughly the securities total in the summary, and cash plus securities should equal net liquidation value. A gap is itself a finding: note it and say which view you trust less, instead of quietly picking one. ## 3. Measure concentration Compute each position's share of total account value, then rank them. Report: - The largest single position and its weight. A single holding above about 20% of the account is worth stating plainly, because one bad outcome then drives most of the result. The threshold is a reporting flag, not a rule the user has to follow. - The top five combined weight. Five names making up most of the account is concentration even if no single name is extreme. - The count of positions and how many make up the bulk of value. Many tiny positions alongside a few large ones is a different shape from a book of equal weights. - Concentration by currency, and by asset type if the position data shows it. Several holdings in one currency move together when that currency moves, which is exposure the individual names hide. If you can see sector or country fields, group by them. If you cannot, say that grouping is not possible from this data rather than inventing buckets. ## 4. Measure cash drag Cash is an exposure too. Report the cash share of net liquidation value and the cash balance in each currency. Then say what it means in plain terms: a large idle cash share means a large part of the account is not invested and is therefore not participating in market moves. State this as a fact about the mix. Do not say the user should invest it. A small cash cushion is normal for margin and settlement, so judge drag against what the user has said they want, and ask if you do not know. Watch for negative cash in one currency offset by positive cash in another. That is a currency borrowing or conversion position, and it deserves a separate line, not a silent netting. ## 5. Check the book is not hiding exposure Some exposure does not appear as a plain long position. Look for short positions, which show as negative quantity and count against the total in a different way. Look for options and other derivatives, whose market value is not the same as the exposure they create; state that the position-level market value understates or misstates the underlying exposure, and do not compute notional values unless the data supports it. If a position has zero or missing market value, list it as unpriced and leave it out of the weights, saying so. ## 6. Keep prices out of the verdict If a position looks large or has moved, you may use `get_price_snapshot` to confirm its current price, but do not use prices to judge whether it was a good decision or whether it will rise or fall. Price history (`get_price_history`) is for showing what the weight was doing, not for forecasting. Keep the report about the exposure as it stands. ## Common patterns and traps - **Mixing accounts.** A combined figure from two accounts looks like one large book. Always name the account in the headline line. - **Trusting one view.** The summary, the balances and the positions can disagree because of timing, unsettled trades or currency conversion. Reconcile, then report the gap. - **Reading market value as cost.** Position value shows where the book is now. It says nothing about what was paid. Do not describe gains or losses here; that belongs to a different review. - **Calling a weight "risk".** A 30% position is concentrated, not necessarily risky. The number describes the mix; the user decides what level they can carry. - **Ignoring currency.** A portfolio that looks diversified across names can be a single currency bet. - **Netting cash silently.** Negative and positive balances in different currencies should be reported separately. - **Advice creep.** Phrases like "you should trim" or "consider rebalancing into" turn a snapshot into a recommendation. Report the exposure and stop there. ## Output ``` Account: As of: