{"schema_version": 1, "pack_id": "public_portfolio_candidates_v2_20260831", "generated_at_utc": "2026-08-30T22:10:31.482454Z", "status": "research_candidates_preregistered", "research_cutoff": "2026-08-01", "point_in_time_status": "semi_point_in_time", "momentum_definition": "6_0_raw_nominal_total_return", "evaluation_capital_rub": 1000000000, "execution_model": "next_session_(H+L)/2_with_flat_30bp_and_20pct_ADV_cap", "historical_results_are_not_confirmation": true, "not_investment_recommendation": true, "generated_files": {"configs/public_portfolio_candidates_v2_20260831/mpfm_d03_performance_last_audited_holdings.csv": "4045b6575c3b3664d16ec4ecee688c1360aa441c92839a418c0ff27e5c691935", "configs/public_portfolio_candidates_v2_20260831/vmfm_value_rerating_last_audited_holdings.csv": "6c8bfb4a5c6d5595f5a43d6ca661174632a2db4c25d41c747db9874a72cd4412", "configs/public_portfolio_candidates_v2_20260831/qmfm_d03_diversified_last_audited_holdings.csv": "cab0c818e731dcb52f3a601f2c147f30ba986bf1467fc80461adec4eac3ad74d"}, "candidates": [{"id": "mpfm_d03_performance", "label": "MPFM + Dividend D03 · Performance", "mandate": "Компактный портфель лидеров цены, прибыльности и улучшения фундаментальных показателей с умеренной дивидендной добавкой.", "role": "Основной кандидат с максимальным историческим ростом капитала.", "factor_weights": {"Momentum 6–0 raw": 0.2666666666666133, "Dividend D03": 0.20000000000015997, "Profitability": 0.2666666666666133, "Fundamental Momentum": 0.2666666666666133}, "factor_metrics": {"Momentum 6–0 raw": ["momentum"], "Dividend D03": ["dividend_yield_5y_median"], "Profitability": ["roa", "gross_profitability", "operating_profitability"], "Fundamental Momentum": ["revenue_growth_acceleration", "earnings_growth_acceleration", "operating_margin_change"]}, "factor_combination": "rank_average", "selection": "top_n:15", "weighting": "equal_rank_blend", "constraints": {"initial_aum_rub": 1000000000, "max_security_weight": 0.15, "max_issuer_weight": 0.15, "max_sector_weight": 0.35, "max_adv_participation": 0.2, "capacity_aware_targets": true, "flat_all_in_cost_bps": 30, "execution_price": "next_hl_mean", "execution_lag_sessions": 1}, "source_campaign_id": "quarterly_public_portfolios_momentum_unification_18_20141031_20260801_v1", "source_experiment_id": "3f34bc939ecaff91651bce59d5b9bbc649fe3d9c54060844a3497a7e2ef99564", "full_audit_artifact": "outputs/full_audit_8f652844ffef6c45753095373e9351ad69464cdf12ed62ab4c0f9b638dbebd9d", "full_audit_manifest_sha256": "3bc9414e5f77213d11d87c076690ccb5d8aaf2c0e7c451f77d64d6594a296d74", "configuration_sha256": "7903b6091d36a95dbca216c8b17249ff7eed09692dc7c8bec51ef152521690ac", "metrics_sha256": "f67695cd30b8bdfd46b25287652ff7ece962760cab13e41e2be93c77a68a1b2d", "latest_target_date": "2026-04-30", "latest_target_is_historical": true, "metrics": {"active_start_date": "2014-11-03", "active_end_date": "2026-07-31", "net_cagr": 0.2477384541705867, "gross_cagr": 0.2577450155780623, "benchmark_cagr": 0.1048191450142441, "information_ratio": 0.9264894513788802, "max_drawdown": -0.3934587771418496, "benchmark_max_drawdown": -0.5353333103611232, "annual_excess_hit_rate": 1, "beta": 0.7771455942621933, "executed_turnover": 18.95727719929744, "transaction_cost_total_rub": 581885461.9210795}, "holdings": [{"signal_date": "2026-04-30", "security_id": "ISIN:RU000A107T19", "ticker": "YDEX", "ticker_status": "dated_ticker", "sector": "IT", "issuer_id": "MOEX_EMITTER:15523", "target_weight": 0.13710375570599276, "composite_score": 1.0367342066993315, "rank": 13, "selection_origin": "initial", "capacity_binding": false, "drivers": [{"factor": "Momentum 6–0 raw", "score": 0.5212765957446809, "contribution": 0.13900709219855378, "missing_imputed": false}, {"factor": "Dividend D03", "score": null, "contribution": 0.050000000000040005, "missing_imputed": true}, {"factor": "Profitability", "score": 0.27586557024057023, "contribution": 0.11228070175436353, "missing_imputed": false}, {"factor": "Fundamental Momentum", "score": 0.7663604098604098, "contribution": 0.2624999999999475, "missing_imputed": false}]}, {"signal_date": "2026-04-30", "security_id": "ISIN:RU0009046452", "ticker": "NLMK", "ticker_status": "dated_ticker", "sector": "METALS_MINING", "issuer_id": "OGRN:1024800823123", "target_weight": 0.11249471693429258, "composite_score": 1.006977160812196, "rank": 14, "selection_origin": "initial", "capacity_binding": true, "drivers": [{"factor": "Momentum 6–0 raw", "score": 0.18085106382978725, "contribution": 0.04822695035460029, "missing_imputed": false}, {"factor": "Dividend D03", "score": null, "contribution": 0.050000000000040005, "missing_imputed": true}, {"factor": "Profitability", "score": 0.4739795564795565, "contribution": 0.2526315789473179, "missing_imputed": false}, {"factor": "Fundamental Momentum", "score": 0.45111950549450547, "contribution": 0.2083333333332917, "missing_imputed": false}]}, {"signal_date": "2026-04-30", "security_id": "ISIN:RU000A0J2Q06", "ticker": "ROSN", "ticker_status": "dated_ticker", "sector": "OIL_GAS", "issuer_id": "OGRN:1027700043502", "target_weight": 0.11249019967497972, "composite_score": 1.5622104058477282, "rank": 8, "selection_origin": "initial", "capacity_binding": false, "drivers": [{"factor": "Momentum 6–0 raw", "score": 0.8404255319148937, "contribution": 0.22411347517726019, "missing_imputed": false}, {"factor": "Dividend D03", "score": 0.5, "contribution": 0.10000000000008001, "missing_imputed": false}, {"factor": "Profitability", "score": null, "contribution": 0.06666666666665334, "missing_imputed": true}, {"factor": "Fundamental Momentum", "score": 0.6366964285714285, "contribution": 0.25416666666661586, "missing_imputed": false}]}, {"signal_date": "2026-04-30", "security_id": "ISIN:RU0009029524", "ticker": "SNGSP", "ticker_status": "dated_ticker", "sector": "OIL_GAS", "issuer_id": "OGRN:1028600584540", "target_weight": 0.10545956219529351, "composite_score": 1.299129924020459, "rank": 9, "selection_origin": "initial", "capacity_binding": false, "drivers": [{"factor": "Momentum 6–0 raw", "score": 0.776595744680851, "contribution": 0.2070921985815189, "missing_imputed": false}, {"factor": "Dividend D03", "score": 0.9861111111111112, "contribution": 0.19722222222238003, "missing_imputed": false}, {"factor": "Profitability", "score": null, "contribution": 0.06666666666665334, "missing_imputed": true}, {"factor": "Fundamental Momentum", "score": 0.32517857142857143, "contribution": 0.1333333333333067, "missing_imputed": false}]}, {"signal_date": "2026-04-30", "security_id": "ISIN:RU0009029557", "ticker": "SBERP", "ticker_status": "dated_ticker", "sector": "FINANCIALS", "issuer_id": "OGRN:1027700132195", "target_weight": 0.07666666666666667, "composite_score": 2.6832202553237345, "rank": 1, "selection_origin": "initial", "capacity_binding": false, "drivers": [{"factor": "Momentum 6–0 raw", "score": 0.7553191489361702, "contribution": 0.2014184397162718, "missing_imputed": false}, {"factor": "Dividend D03", "score": 0.4166666666666667, "contribution": 0.08333333333340001, "missing_imputed": false}, {"factor": "Profitability", "score": 0.5042680533751962, "contribution": 0.2666666666666134, "missing_imputed": false}, {"factor": "Fundamental Momentum", "score": 0.8099358974358974, "contribution": 0.2666666666666134, "missing_imputed": false}]}, {"signal_date": "2026-04-30", "security_id": "ISIN:RU0009100945", "ticker": "BSPB", "ticker_status": "dated_ticker", "sector": "FINANCIALS", "issuer_id": "OGRN:1027800000140", "target_weight": 0.07410542925442898, "composite_score": 2.3378975421053942, "rank": 3, "selection_origin": "initial", "capacity_binding": false, "drivers": [{"factor": "Momentum 6–0 raw", "score": 0.7340425531914894, "contribution": 0.1957446808510247, "missing_imputed": false}, {"factor": "Dividend D03", "score": 0.8055555555555556, "contribution": 0.16111111111124002, "missing_imputed": false}, {"factor": "Profitability", "score": 0.42625098116169546, "contribution": 0.22456140350872705, "missing_imputed": false}, {"factor": "Fundamental Momentum", "score": 0.3960363247863248, "contribution": 0.18333333333329668, "missing_imputed": false}]}, {"signal_date": "2026-04-30", "security_id": "ISIN:RU0009029540", "ticker": "SBER", "ticker_status": "dated_ticker", "sector": "FINANCIALS", "issuer_id": "OGRN:1027700132195", "target_weight": 0.07333333333333333, "composite_score": 2.6640871293726516, "rank": 2, "selection_origin": "initial", "capacity_binding": false, "drivers": [{"factor": "Momentum 6–0 raw", "score": 0.723404255319149, "contribution": 0.19290780141840116, "missing_imputed": false}, {"factor": "Dividend D03", "score": 0.4444444444444444, "contribution": 0.08888888888896, "missing_imputed": false}, {"factor": "Profitability", "score": 0.5042680533751962, "contribution": 0.2666666666666134, "missing_imputed": false}, {"factor": "Fundamental Momentum", "score": 0.8099358974358974, "contribution": 0.2666666666666134, "missing_imputed": false}]}, {"signal_date": "2026-04-30", "security_id": "ISIN:RU0007976965", "ticker": "BANEP", "ticker_status": "dated_ticker", "sector": "OIL_GAS", "issuer_id": "OGRN:1020202555240", "target_weight": 0.06877450081255063, "composite_score": 2.1298902528179955, "rank": 4, "selection_origin": "initial", "capacity_binding": true, "drivers": [{"factor": "Momentum 6–0 raw", "score": 0.8723404255319149, "contribution": 0.23262411347513084, "missing_imputed": false}, {"factor": "Dividend D03", "score": 0.9166666666666666, "contribution": 0.18333333333348, "missing_imputed": false}, {"factor": "Profitability", "score": null, "contribution": 0.06666666666665334, "missing_imputed": true}, {"factor": "Fundamental Momentum", "score": 0.6191964285714286, "contribution": 0.24999999999995004, "missing_imputed": false}]}, {"signal_date": "2026-04-30", "security_id": "ISIN:RU000A0JP5V6", "ticker": "VTBR", "ticker_status": "dated_ticker", "sector": "FINANCIALS", "issuer_id": "OGRN:1027739609391", "target_weight": 0.06704776932543573, "composite_score": 1.9277236019778252, "rank": 5, "selection_origin": "initial", "capacity_binding": false, "drivers": [{"factor": "Momentum 6–0 raw", "score": 0.9361702127659575, "contribution": 0.2496453900708721, "missing_imputed": false}, {"factor": "Dividend D03", "score": null, "contribution": 0.050000000000040005, "missing_imputed": true}, {"factor": "Profitability", "score": 0.3646109693877551, "contribution": 0.16842105263154528, "missing_imputed": false}, {"factor": "Fundamental Momentum", "score": 0.5491880341880342, "contribution": 0.2333333333332867, "missing_imputed": false}]}, {"signal_date": "2026-04-30", "security_id": "ISIN:RU0009091573", "ticker": "TRNFP", "ticker_status": "dated_ticker", "sector": "OIL_GAS", "issuer_id": "OGRN:1027700049486", "target_weight": 0.06327573731717609, "composite_score": 0.9715708077370888, "rank": 15, "selection_origin": "initial", "capacity_binding": false, "drivers": [{"factor": "Momentum 6–0 raw", "score": 0.6702127659574468, "contribution": 0.17872340425528344, "missing_imputed": false}, {"factor": "Dividend D03", "score": 0.8333333333333334, "contribution": 0.16666666666680002, "missing_imputed": false}, {"factor": "Profitability", "score": null, "contribution": 0.06666666666665334, "missing_imputed": true}, {"factor": "Fundamental Momentum", "score": 0.3291605984555985, "contribution": 0.14166666666663835, "missing_imputed": false}]}, {"signal_date": "2026-04-30", "security_id": "ISIN:RU000A0ZZFU5", "ticker": "DOMRF", "ticker_status": "dated_ticker", "sector": "FINANCIALS", "issuer_id": "MOEX_EMITTER:656", "target_weight": 0.058846801420135264, "composite_score": 1.885036590974248, "rank": 6, "selection_origin": "initial", "capacity_binding": true, "drivers": [{"factor": "Momentum 6–0 raw", "score": 0.9468085106382979, "contribution": 0.25248226950349567, "missing_imputed": false}, {"factor": "Dividend D03", "score": null, "contribution": 0.050000000000040005, "missing_imputed": true}, {"factor": "Profitability", "score": 0.3997978806907378, "contribution": 0.19649122807013616, "missing_imputed": false}, {"factor": "Fundamental Momentum", "score": 0.4399839743589744, "contribution": 0.1958333333332942, "missing_imputed": false}]}, {"signal_date": "2026-04-30", "security_id": "ISIN:RU000A0ET7Y7", "ticker": "MSRS", "ticker_status": "dated_ticker", "sector": "ELECTRIC_UTILITIES", "issuer_id": "OGRN:1057746555811", "target_weight": 0.01926144090831992, "composite_score": 1.1175565587433418, "rank": 12, "selection_origin": "initial", "capacity_binding": true, "drivers": [{"factor": "Momentum 6–0 raw", "score": 0.9787234042553191, "contribution": 0.2609929078013663, "missing_imputed": false}, {"factor": "Dividend D03", "score": 0.2222222222222222, "contribution": 0.04444444444448, "missing_imputed": false}, {"factor": "Profitability", "score": null, "contribution": 0.06666666666665334, "missing_imputed": true}, {"factor": "Fundamental Momentum", "score": 0.44955357142857144, "contribution": 0.20416666666662586, "missing_imputed": false}]}, {"signal_date": "2026-04-30", "security_id": "ISIN:RU000A0JPPN4", "ticker": "MRKV", "ticker_status": "dated_ticker", "sector": "ELECTRIC_UTILITIES", "issuer_id": "OGRN:1076450006280", "target_weight": 0.016706104209681404, "composite_score": 1.2614376658957998, "rank": 10, "selection_origin": "initial", "capacity_binding": true, "drivers": [{"factor": "Momentum 6–0 raw", "score": 0.9787234042553191, "contribution": 0.2609929078013663, "missing_imputed": false}, {"factor": "Dividend D03", "score": null, "contribution": 0.050000000000040005, "missing_imputed": true}, {"factor": "Profitability", "score": null, "contribution": 0.06666666666665334, "missing_imputed": true}, {"factor": "Fundamental Momentum", "score": 0.47450509058509066, "contribution": 0.2208333333332892, "missing_imputed": false}]}, {"signal_date": "2026-04-30", "security_id": "ISIN:RU000A0JPPT1", "ticker": "MRKU", "ticker_status": "dated_ticker", "sector": "ELECTRIC_UTILITIES", "issuer_id": "OGRN:1056604000970", "target_weight": 0.011297044316692578, "composite_score": 1.1265491279402966, "rank": 11, "selection_origin": "initial", "capacity_binding": true, "drivers": [{"factor": "Momentum 6–0 raw", "score": 0.9787234042553191, "contribution": 0.2609929078013663, "missing_imputed": false}, {"factor": "Dividend D03", "score": 0.16666666666666666, "contribution": 0.03333333333336, "missing_imputed": false}, {"factor": "Profitability", "score": null, "contribution": 0.06666666666665334, "missing_imputed": true}, {"factor": "Fundamental Momentum", "score": 0.468125, "contribution": 0.21666666666662338, "missing_imputed": false}]}, {"signal_date": "2026-04-30", "security_id": "ISIN:RU0009028674", "ticker": "AKRN", "ticker_status": "dated_ticker", "sector": "CHEMICALS", "issuer_id": "OGRN:1025300786610", "target_weight": 0.00313693792502085, "composite_score": 1.7738630591316809, "rank": 7, "selection_origin": "initial", "capacity_binding": true, "drivers": [{"factor": "Momentum 6–0 raw", "score": 0.8297872340425532, "contribution": 0.2212765957446366, "missing_imputed": false}, {"factor": "Dividend D03", "score": 0.041666666666666664, "contribution": 0.00833333333334, "missing_imputed": false}, {"factor": "Profitability", "score": 0.40969406741906744, "contribution": 0.21052631578943162, "missing_imputed": false}, {"factor": "Fundamental Momentum", "score": 0.5550084778734778, "contribution": 0.23749999999995253, "missing_imputed": false}]}], "forward_protocol": {"status": "preregistered_awaiting_future_data", "confirmation_start": "2026-10-01", "confirmation_end": "2029-12-31", "next_signal_rule": "Последняя официальная торговая сессия октября 2026; исполнение не раньше следующей сессии.", "preregistration_artifact": "outputs/confirmation_preregistrations/92cb4a714e96c860559b3f06f124b399b8873a37acbd341234c03a2e19c4eb92", "preregistered_at_utc": "2026-08-30T18:45:45.862502Z"}, "limitations": ["Исторический результат получен после широкого перебора и не является независимым подтверждением.", "Фундаментальные данные имеют semi-PIT статус и консервативный лаг доступности.", "Последний состав — историческая backtest-цель, а не текущая инвестиционная рекомендация.", "Внебиржевое исполнение CIB не моделируется; используется биржевой лимит 20% ADV."]}, {"id": "qmfm_d03_diversified", "label": "QMFM + Dividend D03 · Quality", "mandate": "Компактный портфель качества, momentum и фундаментального улучшения с умеренной дивидендной добавкой.", "role": "Quality-кандидат Top-15 с более ровными 50/50 equal-rank весами.", "factor_weights": {"Quality": 0.2833333333333617, "Momentum 6–0 raw": 0.2833333333333617, "Dividend D03": 0.14999999999991498, "Fundamental Momentum": 0.2833333333333617}, "factor_metrics": {"Quality": ["roe", "cash_roa", "low_leverage", "earnings_stability"], "Momentum 6–0 raw": ["momentum"], "Dividend D03": ["dividend_yield_5y_median"], "Fundamental Momentum": ["revenue_growth_acceleration", "earnings_growth_acceleration", "operating_margin_change"]}, "factor_combination": "rank_average", "selection": "top_n:15", "weighting": "equal_rank_blend", "constraints": {"initial_aum_rub": 1000000000, "max_security_weight": 0.15, "max_issuer_weight": 0.15, "max_sector_weight": 0.35, "max_adv_participation": 0.2, "capacity_aware_targets": true, "flat_all_in_cost_bps": 30, "execution_price": "next_hl_mean", "execution_lag_sessions": 1}, "source_campaign_id": "quarterly_public_portfolio_qmfm_d03_top15_1_20141031_20260801_v1", "source_experiment_id": "2da36ea31f4cec7b34ebe0ef95618dceb98c854660693270d072874399d119f6", "full_audit_artifact": "outputs/full_audit_f60328c917f3307098f531fc13360990e1fd7df408fa24656427be5e41e38aa9", "full_audit_manifest_sha256": "ff4dceb966c10f57a5944e474f081a9f9d60cf47df34eba0013cd32cf7d4551e", "configuration_sha256": "f9ea022ae37c59e7a463e96934b6694993b1f1dd34b316925cfd643aa756a2ca", "metrics_sha256": "bf65548b739dcc3c6c00e3e4f13c69a2349653a6cb2ecb5663b1a9e33329278e", "latest_target_date": "2026-04-30", "latest_target_is_historical": true, "metrics": {"active_start_date": "2014-11-03", "active_end_date": "2026-07-31", "net_cagr": 0.1945411590907642, "gross_cagr": 0.2041076077151817, "benchmark_cagr": 0.1048191450142441, "information_ratio": 0.6208705095965704, "max_drawdown": -0.4633091477244772, "benchmark_max_drawdown": -0.5353333103611232, "annual_excess_hit_rate": 0.9090909090909092, "beta": 0.8091105021911738, "executed_turnover": 18.69318088962537, "transaction_cost_total_rub": 398103692.4241935}, "holdings": [{"signal_date": "2026-04-30", "security_id": "ISIN:RU0009092134", "ticker": "LSNGP", "ticker_status": "dated_ticker", "sector": "ELECTRIC_UTILITIES", "issuer_id": "OGRN:1027809170300", "target_weight": 0.13785601239291806, "composite_score": 1.4406553698939797, "rank": 9, "selection_origin": "initial", "capacity_binding": false, "drivers": [{"factor": "Quality", "score": 0.4390913689343267, "contribution": 0.2428571428571671, "missing_imputed": false}, {"factor": "Momentum 6–0 raw", "score": 0.925531914893617, "contribution": 0.2622340425532177, "missing_imputed": false}, {"factor": "Dividend D03", "score": 0.3611111111111111, "contribution": 0.054166666666635964, "missing_imputed": false}, {"factor": "Fundamental Momentum", "score": 0.32103448544698543, "contribution": 0.1328125000000133, "missing_imputed": false}]}, {"signal_date": "2026-04-30", "security_id": "ISIN:RU000A107T19", "ticker": "YDEX", "ticker_status": "dated_ticker", "sector": "IT", "issuer_id": "MOEX_EMITTER:15523", "target_weight": 0.12408716356002612, "composite_score": 1.241371453425802, "rank": 10, "selection_origin": "initial", "capacity_binding": false, "drivers": [{"factor": "Quality", "score": 0.32387230555770213, "contribution": 0.19338624338626273, "missing_imputed": false}, {"factor": "Momentum 6–0 raw", "score": 0.5212765957446809, "contribution": 0.14769503546100768, "missing_imputed": false}, {"factor": "Dividend D03", "score": null, "contribution": 0.037499999999978745, "missing_imputed": true}, {"factor": "Fundamental Momentum", "score": 0.7663604098604098, "contribution": 0.2789062500000279, "missing_imputed": false}]}, {"signal_date": "2026-04-30", "security_id": "ISIN:RU000A0J2Q06", "ticker": "ROSN", "ticker_status": "dated_ticker", "sector": "OIL_GAS", "issuer_id": "OGRN:1027700043502", "target_weight": 0.08583960396740639, "composite_score": 1.2213090114605456, "rank": 12, "selection_origin": "initial", "capacity_binding": false, "drivers": [{"factor": "Quality", "score": null, "contribution": 0.07083333333334042, "missing_imputed": true}, {"factor": "Momentum 6–0 raw", "score": 0.8404255319148937, "contribution": 0.23812056737591036, "missing_imputed": false}, {"factor": "Dividend D03", "score": 0.5, "contribution": 0.07499999999995749, "missing_imputed": false}, {"factor": "Fundamental Momentum", "score": 0.6366964285714285, "contribution": 0.27005208333336034, "missing_imputed": false}]}, {"signal_date": "2026-04-30", "security_id": "ISIN:RU000A102S15", "ticker": "LENT", "ticker_status": "dated_ticker", "sector": "CONSUMER", "issuer_id": "MOEX_EMITTER:6500", "target_weight": 0.08404010700313656, "composite_score": 1.4428756891546195, "rank": 8, "selection_origin": "initial", "capacity_binding": false, "drivers": [{"factor": "Quality", "score": 0.36058588983561557, "contribution": 0.20687830687832756, "missing_imputed": false}, {"factor": "Momentum 6–0 raw", "score": 0.6595744680851063, "contribution": 0.18687943262413215, "missing_imputed": false}, {"factor": "Dividend D03", "score": null, "contribution": 0.037499999999978745, "missing_imputed": true}, {"factor": "Fundamental Momentum", "score": 0.5984478021978021, "contribution": 0.2611979166666928, "missing_imputed": false}]}, {"signal_date": "2026-04-30", "security_id": "ISIN:RU0009029557", "ticker": "SBERP", "ticker_status": "dated_ticker", "sector": "FINANCIALS", "issuer_id": "OGRN:1027700132195", "target_weight": 0.07666666666666667, "composite_score": 2.259558374785797, "rank": 1, "selection_origin": "initial", "capacity_binding": false, "drivers": [{"factor": "Quality", "score": 0.5894373152687036, "contribution": 0.2743386243386518, "missing_imputed": false}, {"factor": "Momentum 6–0 raw", "score": 0.7553191489361702, "contribution": 0.21400709219860295, "missing_imputed": false}, {"factor": "Dividend D03", "score": 0.4166666666666667, "contribution": 0.06249999999996459, "missing_imputed": false}, {"factor": "Fundamental Momentum", "score": 0.8099358974358974, "contribution": 0.2833333333333617, "missing_imputed": false}]}, {"signal_date": "2026-04-30", "security_id": "ISIN:RU0009029540", "ticker": "SBER", "ticker_status": "dated_ticker", "sector": "FINANCIALS", "issuer_id": "OGRN:1027700132195", "target_weight": 0.07333333333333333, "composite_score": 2.231461022627295, "rank": 2, "selection_origin": "initial", "capacity_binding": false, "drivers": [{"factor": "Quality", "score": 0.5894373152687036, "contribution": 0.2743386243386518, "missing_imputed": false}, {"factor": "Momentum 6–0 raw", "score": 0.723404255319149, "contribution": 0.2049645390071127, "missing_imputed": false}, {"factor": "Dividend D03", "score": 0.4444444444444444, "contribution": 0.06666666666662889, "missing_imputed": false}, {"factor": "Fundamental Momentum", "score": 0.8099358974358974, "contribution": 0.2833333333333617, "missing_imputed": false}]}, {"signal_date": "2026-04-30", "security_id": "ISIN:RU000A0JP5V6", "ticker": "VTBR", "ticker_status": "dated_ticker", "sector": "FINANCIALS", "issuer_id": "OGRN:1027739609391", "target_weight": 0.07, "composite_score": 2.1030200386405817, "rank": 3, "selection_origin": "initial", "capacity_binding": false, "drivers": [{"factor": "Quality", "score": 0.48957827578944274, "contribution": 0.256349206349232, "missing_imputed": false}, {"factor": "Momentum 6–0 raw", "score": 0.9361702127659575, "contribution": 0.26524822695038114, "missing_imputed": false}, {"factor": "Dividend D03", "score": null, "contribution": 0.037499999999978745, "missing_imputed": true}, {"factor": "Fundamental Momentum", "score": 0.5491880341880342, "contribution": 0.24791666666669146, "missing_imputed": false}]}, {"signal_date": "2026-04-30", "security_id": "ISIN:RU000A0ZZFU5", "ticker": "DOMRF", "ticker_status": "dated_ticker", "sector": "FINANCIALS", "issuer_id": "MOEX_EMITTER:656", "target_weight": 0.06666666666666667, "composite_score": 2.04628558540498, "rank": 4, "selection_origin": "initial", "capacity_binding": false, "drivers": [{"factor": "Quality", "score": 0.7368780540385168, "contribution": 0.2833333333333617, "missing_imputed": false}, {"factor": "Momentum 6–0 raw", "score": 0.9468085106382979, "contribution": 0.2682624113475446, "missing_imputed": false}, {"factor": "Dividend D03", "score": null, "contribution": 0.037499999999978745, "missing_imputed": true}, {"factor": "Fundamental Momentum", "score": 0.4399839743589744, "contribution": 0.20807291666668745, "missing_imputed": false}]}, {"signal_date": "2026-04-30", "security_id": "ISIN:RU0009024277", "ticker": "LKOH", "ticker_status": "dated_ticker", "sector": "OIL_GAS", "issuer_id": "OGRN:1027700035769", "target_weight": 0.06437970297555477, "composite_score": 1.1421007309499007, "rank": 15, "selection_origin": "initial", "capacity_binding": false, "drivers": [{"factor": "Quality", "score": 0.4678054347103643, "contribution": 0.25185185185187703, "missing_imputed": false}, {"factor": "Momentum 6–0 raw", "score": 0.7127659574468085, "contribution": 0.20195035460994926, "missing_imputed": false}, {"factor": "Dividend D03", "score": 0.8888888888888888, "contribution": 0.13333333333325778, "missing_imputed": false}, {"factor": "Fundamental Momentum", "score": 0.1619950994950995, "contribution": 0.053125000000005314, "missing_imputed": false}]}, {"signal_date": "2026-04-30", "security_id": "ISIN:RU0009100945", "ticker": "BSPB", "ticker_status": "dated_ticker", "sector": "FINANCIALS", "issuer_id": "OGRN:1027800000140", "target_weight": 0.06333333333333332, "composite_score": 1.9729957911587919, "rank": 5, "selection_origin": "initial", "capacity_binding": false, "drivers": [{"factor": "Quality", "score": 0.5411194925019874, "contribution": 0.2608465608465869, "missing_imputed": false}, {"factor": "Momentum 6–0 raw", "score": 0.7340425531914894, "contribution": 0.20797872340427612, "missing_imputed": false}, {"factor": "Dividend D03", "score": 0.8055555555555556, "contribution": 0.12083333333326485, "missing_imputed": false}, {"factor": "Fundamental Momentum", "score": 0.3960363247863248, "contribution": 0.19479166666668613, "missing_imputed": false}]}, {"signal_date": "2026-04-30", "security_id": "ISIN:RU0007976965", "ticker": "BANEP", "ticker_status": "dated_ticker", "sector": "OIL_GAS", "issuer_id": "OGRN:1020202555240", "target_weight": 0.04937594718948818, "composite_score": 1.6080626781600196, "rank": 7, "selection_origin": "initial", "capacity_binding": true, "drivers": [{"factor": "Quality", "score": null, "contribution": 0.07083333333334042, "missing_imputed": true}, {"factor": "Momentum 6–0 raw", "score": 0.8723404255319149, "contribution": 0.2471631205674006, "missing_imputed": false}, {"factor": "Dividend D03", "score": 0.9166666666666666, "contribution": 0.13749999999992207, "missing_imputed": false}, {"factor": "Fundamental Momentum", "score": 0.6191964285714286, "contribution": 0.2656250000000266, "missing_imputed": false}]}, {"signal_date": "2026-04-30", "security_id": "ISIN:RU0009084446", "ticker": "NMTP", "ticker_status": "dated_ticker", "sector": "TRANSPORT", "issuer_id": "OGRN:1022302380638", "target_weight": 0.04583196364533889, "composite_score": 1.1715416271304435, "rank": 14, "selection_origin": "initial", "capacity_binding": true, "drivers": [{"factor": "Quality", "score": 0.3087468739541497, "contribution": 0.17989417989419787, "missing_imputed": false}, {"factor": "Momentum 6–0 raw", "score": 0.48936170212765956, "contribution": 0.1386524822695174, "missing_imputed": false}, {"factor": "Dividend D03", "score": 0.5555555555555556, "contribution": 0.0833333333332861, "missing_imputed": false}, {"factor": "Fundamental Momentum", "score": 0.549120879120879, "contribution": 0.24348958333335766, "missing_imputed": false}]}, {"signal_date": "2026-04-30", "security_id": "ISIN:RU000A0JPPN4", "ticker": "MRKV", "ticker_status": "dated_ticker", "sector": "ELECTRIC_UTILITIES", "issuer_id": "OGRN:1076450006280", "target_weight": 0.03547670830105107, "composite_score": 1.8368032018103821, "rank": 6, "selection_origin": "initial", "capacity_binding": true, "drivers": [{"factor": "Quality", "score": 0.3682176113566858, "contribution": 0.21137566137568253, "missing_imputed": false}, {"factor": "Momentum 6–0 raw", "score": 0.9787234042553191, "contribution": 0.2773049645390348, "missing_imputed": false}, {"factor": "Dividend D03", "score": null, "contribution": 0.037499999999978745, "missing_imputed": true}, {"factor": "Fundamental Momentum", "score": 0.47450509058509066, "contribution": 0.2346354166666901, "missing_imputed": false}]}, {"signal_date": "2026-04-30", "security_id": "ISIN:RU000A10ANA1", "ticker": "CNRU", "ticker_status": "dated_ticker", "sector": "IT", "issuer_id": "MOEX_EMITTER:16196", "target_weight": 0.017730517007766827, "composite_score": 1.2368568211561806, "rank": 11, "selection_origin": "initial", "capacity_binding": true, "drivers": [{"factor": "Quality", "score": 0.5562772169777226, "contribution": 0.2698412698412968, "missing_imputed": false}, {"factor": "Momentum 6–0 raw", "score": 0.43617021276595747, "contribution": 0.1235815602837003, "missing_imputed": false}, {"factor": "Dividend D03", "score": null, "contribution": 0.037499999999978745, "missing_imputed": true}, {"factor": "Fundamental Momentum", "score": 0.466239010989011, "contribution": 0.22578125000002255, "missing_imputed": false}]}, {"signal_date": "2026-04-30", "security_id": "ISIN:RU0009028674", "ticker": "AKRN", "ticker_status": "dated_ticker", "sector": "CHEMICALS", "issuer_id": "OGRN:1025300786610", "target_weight": 0.005382273957313049, "composite_score": 1.2046066965665976, "rank": 13, "selection_origin": "initial", "capacity_binding": true, "drivers": [{"factor": "Quality", "score": 0.2849502925403127, "contribution": 0.15740740740742315, "missing_imputed": false}, {"factor": "Momentum 6–0 raw", "score": 0.8297872340425532, "contribution": 0.2351063829787469, "missing_imputed": false}, {"factor": "Dividend D03", "score": 0.041666666666666664, "contribution": 0.006249999999996458, "missing_imputed": false}, {"factor": "Fundamental Momentum", "score": 0.5550084778734778, "contribution": 0.25234375000002524, "missing_imputed": false}]}], "forward_protocol": {"status": "preregistered_awaiting_future_data", "confirmation_start": "2026-10-01", "confirmation_end": "2029-12-31", "next_signal_rule": "Последняя официальная торговая сессия октября 2026; исполнение не раньше следующей сессии.", "preregistration_artifact": "outputs/confirmation_preregistrations/bae22b05e4c3f060aa8595a45385f1eade6c7565ef454f407fe62c6bc2590d5c", "preregistered_at_utc": "2026-08-30T22:10:31.436136Z"}, "limitations": ["Исторический результат получен после широкого перебора и не является независимым подтверждением.", "Фундаментальные данные имеют semi-PIT статус и консервативный лаг доступности.", "Последний состав — историческая backtest-цель, а не текущая инвестиционная рекомендация.", "Внебиржевое исполнение CIB не моделируется; используется биржевой лимит 20% ADV."]}, {"id": "vmfm_value_rerating", "label": "VMFM · Value Re-rating", "mandate": "Компактный портфель недорогих компаний, у которых цена и фундаментальные показатели уже подтверждают переоценку.", "role": "Самостоятельный value/re-rating кандидат без Dividend-фактора.", "factor_weights": {"Value": 0.3, "Momentum 6–0 raw": 0.4, "Fundamental Momentum": 0.3}, "factor_metrics": {"Value": ["earnings_yield", "book_to_price", "cash_flow_yield"], "Momentum 6–0 raw": ["momentum"], "Fundamental Momentum": ["revenue_growth_acceleration", "earnings_growth_acceleration", "operating_margin_change"]}, "factor_combination": "rank_average", "selection": "top_n:15", "weighting": "rank", "constraints": {"initial_aum_rub": 1000000000, "max_security_weight": 0.15, "max_issuer_weight": 0.15, "max_sector_weight": 0.35, "max_adv_participation": 0.2, "capacity_aware_targets": true, "flat_all_in_cost_bps": 30, "execution_price": "next_hl_mean", "execution_lag_sessions": 1}, "source_campaign_id": "quarterly_public_portfolios_momentum_unification_18_20141031_20260801_v1", "source_experiment_id": "a990d43ea6f2cbbc888c904fc3869a2ebdde9cd3c21b1d1ba83513274de670e5", "full_audit_artifact": "outputs/full_audit_a45befe82afd6fd30336a78b8bc172e6a9d0bec01851cdf1f2310837774a392e", "full_audit_manifest_sha256": "e469374d33a6f9f80568b349585ccb0407e4dc6c31120109393f16d028cc061a", "configuration_sha256": "3f9aac68a66c17e443cb436230390c263818e2033257320302c1d48f2f10ae01", "metrics_sha256": "187776579eb71bad21ae634df0f682f7ba21636872988881a368df293b1c8e63", "latest_target_date": "2026-04-30", "latest_target_is_historical": true, "metrics": {"active_start_date": "2014-11-03", "active_end_date": "2026-07-31", "net_cagr": 0.2012387068495529, "gross_cagr": 0.2122845249832134, "benchmark_cagr": 0.1048191450142441, "information_ratio": 0.6466534165669964, "max_drawdown": -0.4542455952666294, "benchmark_max_drawdown": -0.5353333103611232, "annual_excess_hit_rate": 0.6363636363636364, "beta": 0.8306793826789275, "executed_turnover": 21.310531466243532, "transaction_cost_total_rub": 501537615.7335104}, "holdings": [{"signal_date": "2026-04-30", "security_id": "ISIN:RU000A0JSE60", "ticker": "RNFT", "ticker_status": "dated_ticker", "sector": "OIL_GAS", "issuer_id": "MOEX_EMITTER:1264", "target_weight": 0.12089846853688296, "composite_score": 1.4769372697332943, "rank": 8, "selection_origin": "initial", "capacity_binding": false, "drivers": [{"factor": "Value", "score": 0.5189279098393348, "contribution": 0.2733333333333333, "missing_imputed": false}, {"factor": "Momentum 6–0 raw", "score": 0.851063829787234, "contribution": 0.34042553191489366, "missing_imputed": false}, {"factor": "Fundamental Momentum", "score": 0.2670095634095634, "contribution": 0.1171875, "missing_imputed": false}]}, {"signal_date": "2026-04-30", "security_id": "ISIN:RU000A0JPPN4", "ticker": "MRKV", "ticker_status": "dated_ticker", "sector": "ELECTRIC_UTILITIES", "issuer_id": "OGRN:1076450006280", "target_weight": 0.11259877518101032, "composite_score": 2.184994963178476, "rank": 5, "selection_origin": "initial", "capacity_binding": false, "drivers": [{"factor": "Value", "score": 0.43991608494047524, "contribution": 0.22666666666666666, "missing_imputed": false}, {"factor": "Momentum 6–0 raw", "score": 0.9787234042553191, "contribution": 0.39148936170212767, "missing_imputed": false}, {"factor": "Fundamental Momentum", "score": 0.47450509058509066, "contribution": 0.24843749999999998, "missing_imputed": false}]}, {"signal_date": "2026-04-30", "security_id": "ISIN:RU000A0JP5V6", "ticker": "VTBR", "ticker_status": "dated_ticker", "sector": "FINANCIALS", "issuer_id": "OGRN:1027739609391", "target_weight": 0.10858386722452823, "composite_score": 2.5523395148411923, "rank": 1, "selection_origin": "initial", "capacity_binding": false, "drivers": [{"factor": "Value", "score": 0.8085772357723577, "contribution": 0.3, "missing_imputed": false}, {"factor": "Momentum 6–0 raw", "score": 0.9361702127659575, "contribution": 0.374468085106383, "missing_imputed": false}, {"factor": "Fundamental Momentum", "score": 0.5491880341880342, "contribution": 0.2625, "missing_imputed": false}]}, {"signal_date": "2026-04-30", "security_id": "ISIN:RU000A0JPN96", "ticker": "MRKP", "ticker_status": "dated_ticker", "sector": "ELECTRIC_UTILITIES", "issuer_id": "OGRN:1075260020043", "target_weight": 0.10236252289182757, "composite_score": 1.6526212794819788, "rank": 6, "selection_origin": "initial", "capacity_binding": false, "drivers": [{"factor": "Value", "score": 0.47329178935032595, "contribution": 0.2533333333333333, "missing_imputed": false}, {"factor": "Momentum 6–0 raw", "score": 0.9148936170212766, "contribution": 0.36595744680851067, "missing_imputed": false}, {"factor": "Fundamental Momentum", "score": 0.32343845559845563, "contribution": 0.14531249999999998, "missing_imputed": false}]}, {"signal_date": "2026-04-30", "security_id": "ISIN:RU000A0JPNN9", "ticker": "FEES", "ticker_status": "dated_ticker", "sector": "ELECTRIC_UTILITIES", "issuer_id": "OGRN:1024701893336", "target_weight": 0.0921262706026448, "composite_score": 1.4871062572592448, "rank": 7, "selection_origin": "initial", "capacity_binding": false, "drivers": [{"factor": "Value", "score": 0.6318026789503041, "contribution": 0.29333333333333333, "missing_imputed": false}, {"factor": "Momentum 6–0 raw", "score": 0.3723404255319149, "contribution": 0.14893617021276595, "missing_imputed": false}, {"factor": "Fundamental Momentum", "score": 0.6677678571428571, "contribution": 0.29062499999999997, "missing_imputed": false}]}, {"signal_date": "2026-04-30", "security_id": "ISIN:RU000A0ZZFU5", "ticker": "DOMRF", "ticker_status": "dated_ticker", "sector": "FINANCIALS", "issuer_id": "MOEX_EMITTER:656", "target_weight": 0.09141613277547174, "composite_score": 2.2499422851019, "rank": 3, "selection_origin": "initial", "capacity_binding": true, "drivers": [{"factor": "Value", "score": 0.5420528455284552, "contribution": 0.27999999999999997, "missing_imputed": false}, {"factor": "Momentum 6–0 raw", "score": 0.9468085106382979, "contribution": 0.37872340425531914, "missing_imputed": false}, {"factor": "Fundamental Momentum", "score": 0.4399839743589744, "contribution": 0.2203125, "missing_imputed": false}]}, {"signal_date": "2026-04-30", "security_id": "ISIN:RU0009029557", "ticker": "SBERP", "ticker_status": "dated_ticker", "sector": "FINANCIALS", "issuer_id": "OGRN:1027700132195", "target_weight": 0.08076923076923076, "composite_score": 2.300879773243838, "rank": 2, "selection_origin": "initial", "capacity_binding": false, "drivers": [{"factor": "Value", "score": 0.5910569105691057, "contribution": 0.2866666666666667, "missing_imputed": false}, {"factor": "Momentum 6–0 raw", "score": 0.7553191489361702, "contribution": 0.30212765957446813, "missing_imputed": false}, {"factor": "Fundamental Momentum", "score": 0.8099358974358974, "contribution": 0.3, "missing_imputed": false}]}, {"signal_date": "2026-04-30", "security_id": "ISIN:RU000A0J2Q06", "ticker": "ROSN", "ticker_status": "dated_ticker", "sector": "OIL_GAS", "issuer_id": "OGRN:1027700043502", "target_weight": 0.07556154283555185, "composite_score": 1.300304617234748, "rank": 11, "selection_origin": "initial", "capacity_binding": false, "drivers": [{"factor": "Value", "score": null, "contribution": 0.075, "missing_imputed": true}, {"factor": "Momentum 6–0 raw", "score": 0.8404255319148937, "contribution": 0.3361702127659575, "missing_imputed": false}, {"factor": "Fundamental Momentum", "score": 0.6366964285714285, "contribution": 0.2859375, "missing_imputed": false}]}, {"signal_date": "2026-04-30", "security_id": "ISIN:RU0009029540", "ticker": "SBER", "ticker_status": "dated_ticker", "sector": "FINANCIALS", "issuer_id": "OGRN:1027700132195", "target_weight": 0.06923076923076923, "composite_score": 2.2342434044730997, "rank": 4, "selection_origin": "initial", "capacity_binding": false, "drivers": [{"factor": "Value", "score": 0.5910569105691057, "contribution": 0.2866666666666667, "missing_imputed": false}, {"factor": "Momentum 6–0 raw", "score": 0.723404255319149, "contribution": 0.2893617021276596, "missing_imputed": false}, {"factor": "Fundamental Momentum", "score": 0.8099358974358974, "contribution": 0.3, "missing_imputed": false}]}, {"signal_date": "2026-04-30", "security_id": "ISIN:RU0009091573", "ticker": "TRNFP", "ticker_status": "dated_ticker", "sector": "OIL_GAS", "issuer_id": "OGRN:1027700049486", "target_weight": 0.04533692570133111, "composite_score": 1.2847445623742197, "rank": 13, "selection_origin": "initial", "capacity_binding": false, "drivers": [{"factor": "Value", "score": 0.5117720413096022, "contribution": 0.26666666666666666, "missing_imputed": false}, {"factor": "Momentum 6–0 raw", "score": 0.6702127659574468, "contribution": 0.2680851063829787, "missing_imputed": false}, {"factor": "Fundamental Momentum", "score": 0.3291605984555985, "contribution": 0.159375, "missing_imputed": false}]}, {"signal_date": "2026-04-30", "security_id": "ISIN:RU000A0ET7Y7", "ticker": "MSRS", "ticker_status": "dated_ticker", "sector": "ELECTRIC_UTILITIES", "issuer_id": "OGRN:1057746555811", "target_weight": 0.029921871657061595, "composite_score": 1.2954457153452148, "rank": 12, "selection_origin": "initial", "capacity_binding": true, "drivers": [{"factor": "Value", "score": null, "contribution": 0.075, "missing_imputed": true}, {"factor": "Momentum 6–0 raw", "score": 0.9787234042553191, "contribution": 0.39148936170212767, "missing_imputed": false}, {"factor": "Fundamental Momentum", "score": 0.44955357142857144, "contribution": 0.2296875, "missing_imputed": false}]}, {"signal_date": "2026-04-30", "security_id": "ISIN:RU0007976965", "ticker": "BANEP", "ticker_status": "dated_ticker", "sector": "OIL_GAS", "issuer_id": "OGRN:1020202555240", "target_weight": 0.028736048582267974, "composite_score": 1.3424729443474803, "rank": 10, "selection_origin": "initial", "capacity_binding": true, "drivers": [{"factor": "Value", "score": null, "contribution": 0.075, "missing_imputed": true}, {"factor": "Momentum 6–0 raw", "score": 0.8723404255319149, "contribution": 0.348936170212766, "missing_imputed": false}, {"factor": "Fundamental Momentum", "score": 0.6191964285714286, "contribution": 0.28125, "missing_imputed": false}]}, {"signal_date": "2026-04-30", "security_id": "ISIN:RU0009084446", "ticker": "NMTP", "ticker_status": "dated_ticker", "sector": "TRANSPORT", "issuer_id": "OGRN:1022302380638", "target_weight": 0.024593907786912183, "composite_score": 1.1077764142690145, "rank": 14, "selection_origin": "initial", "capacity_binding": false, "drivers": [{"factor": "Value", "score": 0.3867847186853092, "contribution": 0.20666666666666667, "missing_imputed": false}, {"factor": "Momentum 6–0 raw", "score": 0.48936170212765956, "contribution": 0.19574468085106383, "missing_imputed": false}, {"factor": "Fundamental Momentum", "score": 0.549120879120879, "contribution": 0.2578125, "missing_imputed": false}]}, {"signal_date": "2026-04-30", "security_id": "ISIN:RU000A0JPPT1", "ticker": "MRKU", "ticker_status": "dated_ticker", "sector": "ELECTRIC_UTILITIES", "issuer_id": "OGRN:1056604000970", "target_weight": 0.012990559667455662, "composite_score": 1.3688498403192308, "rank": 9, "selection_origin": "initial", "capacity_binding": true, "drivers": [{"factor": "Value", "score": null, "contribution": 0.075, "missing_imputed": true}, {"factor": "Momentum 6–0 raw", "score": 0.9787234042553191, "contribution": 0.39148936170212767, "missing_imputed": false}, {"factor": "Fundamental Momentum", "score": 0.468125, "contribution": 0.24375, "missing_imputed": false}]}, {"signal_date": "2026-04-30", "security_id": "ISIN:RU0009028674", "ticker": "AKRN", "ticker_status": "dated_ticker", "sector": "CHEMICALS", "issuer_id": "OGRN:1025300786610", "target_weight": 0.0048731065570540525, "composite_score": 0.893128638891884, "rank": 15, "selection_origin": "initial", "capacity_binding": true, "drivers": [{"factor": "Value", "score": 0.09337302670499077, "contribution": 0.02, "missing_imputed": false}, {"factor": "Momentum 6–0 raw", "score": 0.8297872340425532, "contribution": 0.3319148936170213, "missing_imputed": false}, {"factor": "Fundamental Momentum", "score": 0.5550084778734778, "contribution": 0.26718749999999997, "missing_imputed": false}]}], "forward_protocol": {"status": "preregistered_awaiting_future_data", "confirmation_start": "2026-10-01", "confirmation_end": "2029-12-31", "next_signal_rule": "Последняя официальная торговая сессия октября 2026; исполнение не раньше следующей сессии.", "preregistration_artifact": "outputs/confirmation_preregistrations/777d4837027c1473fa977bad52155821f4ff28fb7b6447f6d9f2b522886dc12f", "preregistered_at_utc": "2026-08-30T18:45:46.723138Z"}, "limitations": ["Исторический результат получен после широкого перебора и не является независимым подтверждением.", "Фундаментальные данные имеют semi-PIT статус и консервативный лаг доступности.", "Последний состав — историческая backtest-цель, а не текущая инвестиционная рекомендация.", "Внебиржевое исполнение CIB не моделируется; используется биржевой лимит 20% ADV."]}]}