Messy Fund Update

Fund / Signal update · 12 September 2026 · vnext-2026-07-24

Weekly workflow proof for Messy-managed micro test funds on Base: Guru Lotus books base04, base05, and base06, plus Lagoon books lg-base01 and lg-base02. Screening prepares evidence; the Chair decides; the system records the resolution; only then can execution mutate the book. Macro and narrative below are the postures those sessions used, not a live market refresh at publish time.

Custody / provider

This week's public micro books use two Base custody adapters. base04, base05, and base06 sit on Guru Lotus vaults. Messy's engine runs research, council decisioning, and trade construction; capital on those books sits in Guru's vault contracts. On the Guru books, the trading key can trade but cannot withdraw, a limit enforced by the vault contracts, not our software. lg-base01 and lg-base02 sit on Lagoon vaults for custody and share accounting. Provider-side contract failure is venue risk on either adapter. Keys live in Turnkey; our backend never holds key material.

For the blast-radius map (engine vs custody vs token), see Custody Broke. The Engine Didn’t..

This week at a glance

35 council sessions across 5 micro funds — 27 executed.
Week regime path: Neutral (N) all week — Effective macro regime is N with fresh coverage and 80% confidence.
Narrative tape (session-frozen): Across 16 active narrative(s), 30d momentum vs TOTAL3ES ranges from Privacy Coins at +78.1pp to DeFAI at -34.5pp.
base04 NAV $44 (-7.3% 7d, 5 exec / 0 hold).
base05 NAV $42.25 (-5.4% 7d, 4 exec / 0 hold).
NOCK led aggregate screens this week — a candidate signal, not an automatic trade.

What's new in the app

The public suite is still five micro books: Guru Lotus base04, base05, and base06, plus Lagoon lg-base01 and lg-base02. Closed verification books base01 and base02 stay off this page. The marketing site now lists only the same current books as app.messyvirgo.com/funds. Screens still stop at ideas: council and execution decide size, venue, and fills.

Week regime · what the councils used

Regime path

Neutral (N) all week

Mon N target

Tue N exec

Wed N exec

Thu N exec

Fri N exec

Sat N exec

Sampled from base04 sessions across the week

Closing macro brief

Neutral (N) · as of 2026-09-12

Effective macro regime is N with fresh coverage and 80% confidence.

Narrative momentum

Across 16 active narrative(s), 30d momentum vs TOTAL3ES ranges from Privacy Coins at +78.1pp to DeFAI at -34.5pp.

Micro funds · week scan

Fund	NAV	7d	Sessions	Exec
base04	$44	-7.3%	8	5	Council
base05	$42.25	-5.4%	8	4	Council
base06	$32.06	+2.1%	6	6	Council
lg-base01	$53.63	+3.0%	6	6	Council
lg-base02	$53.38	+0.3%	7	6	Council

base04

$44 NAV

-1.7% 1d -7.3% 7d +8.8% 30d

8 sessions · 5 exec · 0 hold

base05

$42.25 NAV

-0.6% 1d -5.4% 7d -8.9% 30d

8 sessions · 4 exec · 0 hold

base06

$32.06 NAV

-2.5% 1d +2.1% 7d +35.4% 30d

6 sessions · 6 exec · 0 hold

lg-base01

$53.63 NAV

+3.3% 1d +3.0% 7d +12.6% 30d

6 sessions · 6 exec · 0 hold

lg-base02

$53.38 NAV

-0.5% 1d +0.3% 7d n/a 28d*

7 sessions · 6 exec · 0 hold

base04 — council & book

✅

Closing session · executed reconciled · 12 September 2026

The council's rebalance for MFV-BASE04 executed and reconciled this session, with cash reduced from about 29% to a ratified target near 17%, base reduced from about 25% to about 22%, and high beta raised from about 46% to about 61%; realized post-execution weights are not yet available.

Week strip: Mon target · Tue exec · Wed exec · Thu exec · Fri exec · Sat exec · 8 sessions

Open Council minutes →

Mon target ×2

Tue exec ×2

Wed exec

Thu exec

Fri exec

Sat exec

Week net · Cash 12.1% → 17.3% · Base 17.6% → 22.1% · High-beta 70.2% → 60.6%

Tue exec Sell-fundable capacity is only $32.40 against multiple PMs proposing overlapping exit legs (keycat and roost) to fund different entries; the Chair must reconcile which exit funds which entry to avoid…

Closing session

Cash 29.4% → 17.3% · Base 25% → 22.1% · High-beta 45.6% → 60.6%

Recommendation was projected onto the regime-band convergence step by validation.

Deployable new-entry capacity is $6.53 against sell-funded capacity of $19.86; new entries beyond incumbent top-ups depend on required-exit/reduction funding actually landing this session.
Book sits at 4 positions, the floor of the 4-10 breadth band, with top-1 concentration at 19.9% NAV and effective N of 3.30 — breadth expansion is appropriate but candidate quality should not be relaxed to…
Guru execution route invariant requires all rotations decompose into sell-to-reserve and reserve-to-buy legs; no beta-to-beta swap framing should appear in the finalized plan.

Current book

Cash 20.9% · Base 22% · High-beta 57.1%

CASH (USDC) 20.9% BASE (WETH) 22.0% NEIRO 20.4% ROOST 15.1% DRB 13.5% NOGS 8.1%

Top aggregate candidates — 7-day lookback , as of 12 September 2026

#1 SHRUB Appeared in 6/7 source run(s) with avg rank 1.00, best rank 1, recency score 36.35.

#2 BYTE Appeared in 6/7 source run(s) with avg rank 2.00, best rank 2, recency score 32.72.

#3 NEIRO Appeared in 6/7 source run(s) with avg rank 3.00, best rank 3, recency score 29.08.

base05 — council & book

✅

Closing session · executed reconciled · 12 September 2026

The fund's rotation executed and reconciled, closing dickbutt and beni and entering build and clawnch while trimming riz and lifting boomer.

Week strip: Mon target · Tue exec · Wed exec · Thu session · Fri exec · Sat exec · 8 sessions

Open Council minutes →

Mon target ×2

Tue exec ×2

Wed exec

Thu session

Fri exec

Sat exec

Week net · Cash 12.9% → 16.3% · Base 17.8% → 20.3% · High-beta 69.3% → 63.4%

Tue exec Beni removal (exit_strategist_pm) is a single-seat outlier against three seats holding beni on stable fresh/aggregate rank evidence; treat as advisory, not converged risk.

Closing session

Cash 16.3% · Base 20.3% · High-beta 63.4%

No bucket movement is recommended because current allocation already satisfies the computed posture.

Multiple PM seats propose different funding sources (uzec trim, beni removal, dickbutt closure) for the same new-entry capacity; only one should be executed to avoid double-counting sell-fundable capacity of…
uzec's flagged route gap (+6747bps) and exit cost (6770bps) are an execution ceiling on the fund's largest single position (18.4% NAV) — not a thesis problem, but a standing liquidity risk if concentration…
boomer's flagged route gap (+3021bps) is a real cost ceiling though thesis remains intact this session.

Current book

Cash 7.8% · Base 20.3% · High-beta 71.9%

CASH (USDC) 7.8% BASE (WETH) 20.3% UZEC 18.5% BOOMER 9.8% CLAWNCH 9.0% RIZ 9.0% BUILD 8.9% UP 8.6% ROOST 8.3%

Top aggregate candidates — 7-day lookback , as of 12 September 2026

#1 BOOMER Appeared in 5/7 source run(s) with avg rank 4.00, best rank 2, recency score 22.04.

#2 CLAWNCH Appeared in 5/7 source run(s) with avg rank 4.80, best rank 2, recency score 18.77.

#3 UZEC Appeared in 4/7 source run(s) with avg rank 1.50, best rank 1, recency score 27.98.

base06 — council & book

✅

Closing session · executed reconciled · 12 September 2026

The rebalance executed and reconciled, exiting the fund's largest position, NPC, and entering NOCK while making smaller adjustments elsewhere.

Week strip: Mon exec · Tue exec · Wed exec · Thu exec · Fri exec · Sat exec · 6 sessions

Open Council minutes →

Mon exec

Tue exec

Wed exec

Thu exec

Fri exec

Sat exec

Week net · Cash 13.1% → 15% · Base 17.2% → 22% · High-beta 69.7% → 63%

Tue exec Macro evidence families (event_calendar, recent_news, custom_tools) are not_configured — effective regime read (R- via risk-off overlay) rests on a single high-confidence news signal that cannot be…

Closing session

Cash 15.1% → 15% · Base 24.2% → 22% · High-beta 60.7% → 63%

Recommendation was projected onto the regime-band convergence step by validation.

Base bucket is above its target band and high beta below target; the ratified posture already directs the required move (base -2.2%, beta +2.3%) — any PM framing that treats this as a stock-picking call…
Nock is a fresh-only-conviction add: strong fresh rank and 6/7 aggregate appearances is decent support, but its 24h move of +20.7% and elevated 15.7% ATR% warrant conservative initial sizing rather than a…
Ethfi proposed by trend_momentum_pm has weaker aggregate durability (4/7 runs, avg rank 5.8) than nock; treat as secondary breadth candidate, not equal-weighted with nock.

Current book

Cash 15% · Base 22.1% · High-beta 62.9%

CASH (USDC) 15.0% BASE (WETH) 22.1% NOCK 13.0% LINK 12.6% ZEN 12.5% VVV 12.5% XCN 12.3%

Top aggregate candidates — 7-day lookback , as of 12 September 2026

#1 NOCK Appeared in 6/7 source run(s) with avg rank 2.17, best rank 1, recency score 31.98.

#2 CAKE Appeared in 6/7 source run(s) with avg rank 3.83, best rank 2, recency score 25.17.

#3 VVV Appeared in 6/7 source run(s) with avg rank 4.00, best rank 1, recency score 28.67.

lg-base01 — council & book

✅

Closing session · executed reconciled · 12 September 2026

The council's rebalance executed and reconciled, mutating the fund's holdings.

Week strip: Mon exec · Tue exec · Wed exec · Thu exec · Fri exec · Sat exec · 6 sessions

Open Council minutes →

Mon exec

Tue exec

Wed exec

Thu exec

Fri exec

Sat exec

Week net · Cash 11.8% → 15.4% · Base 18% → 21.6% · High-beta 70.1% → 63%

Tue exec Props carries thin global liquidity ($20.5k) and a 45bps exit cost; full exit is directionally sound but slippage should be monitored at execution.

Closing session

Cash 18% → 15.4% · Base 21.6% · High-beta 60.4% → 63%

Recommendation was projected onto the regime-band convergence step by validation.

Concentration: nock at 22.3% NAV and top-3 at 41.3% sit near the effective max position weight implied by the 4-10 breadth band; any further nock-funded trim reduces concentration but a nock increase would…
PM proposals disagree on which incumbent funds the beta increase (nock trim, rnbw trim, or zen/anyone trim) and on which candidate to add (anyone top-up vs sibyl new entry) — Chair must reconcile before…
SIBYL cannot be added this session under either proposed bundle because it has no executable round trip at position notional; revisit only if route feasibility improves.

Current book

Cash 17.2% · Base 21.3% · High-beta 61.5%

CASH (USDC) 17.2% BASE (WETH) 21.3% ANYONE 21.1% VVV 19.4% NOCK 13.2% RNBW 2.7% CAKE 2.6% ZEN 2.6%

Top aggregate candidates — 7-day lookback , as of 12 September 2026

#1 ANYONE Appeared in 6/7 source run(s) with avg rank 6.17, best rank 4, recency score 16.90.

#2 RNBW Appeared in 5/7 source run(s) with avg rank 3.60, best rank 1, recency score 18.95.

#3 NOCK Appeared in 4/7 source run(s) with avg rank 2.75, best rank 2, recency score 17.91.

lg-base02 — council & book

✅

Closing session · executed reconciled · 12 September 2026

The base sleeve's rebalance executed and reconciled, exiting LikeCoin, adding Nock, increasing ANyONe, and trimming WOON, while the fund's cash/base/high-beta posture stayed unchanged at roughly 15/19/66 percent with realized post-execution weights not yet available.

Week strip: Mon exec · Tue exec · Wed exec · Thu exec · Fri exec · Sat exec · 7 sessions

Open Council minutes →

Mon exec

Tue exec ×2

Wed exec

Thu exec

Fri exec

Sat exec

Week net · Cash 16.4% → 15.2% · Base 18.3% → 18.5% · High-beta 65.3% → 66.3%

Tue exec woon's NAV valuation is marked from the global catalog because the fund's own chain cannot price it — a data-quality gap, not a thesis break, but sizing any further increase into woon should account for this…

Closing session

Cash 15.2% · Base 18.5% · High-beta 66.3%

No bucket movement is recommended because current allocation already satisfies the computed posture.

Woon at 14.4% NAV is the single largest position in an 8-name sleeve; PMs are treating this as hold-with-flag rather than forced trim, consistent with no-forced-reversal-on-sample guidance, but concentration…
Several proposed rotations exit into thinly-traded small caps (woon exit cost 98bps, npc 52bps, anyone 50bps) — execution cost is real friction against any marginal rotation gain.
New candidate additions (nock, sibyl, lsk, vvv) carry fresh-only or short aggregate track records; sizing should stay modest until evidence accumulates.

Current book

Cash 14.6% · Base 18.3% · High-beta 67.1%

CASH (USDC) 14.6% BASE (WETH) 18.3% ANYONE 17.3% ZEN 9.0% NOCK 8.6% NPC 7.4% WOON 6.3% JITOSOL 6.3% CBBTC 6.3% COMP 5.9%

Top aggregate candidates — 7-day lookback , as of 12 September 2026

#1 ANYONE Appeared in 6/7 source run(s) with avg rank 6.33, best rank 5, recency score 16.50.

#2 RNBW Appeared in 5/7 source run(s) with avg rank 3.80, best rank 2, recency score 18.56.

#3 NOCK Appeared in 4/7 source run(s) with avg rank 3.00, best rank 2, recency score 17.51.

Aggregate signal

✅ Aggregate signal

NOCK

Nockchain

Appeared in 6/7 daily runs across base06 and lg-base01 and lg-base02 over the 7-day lookback. Appeared in 6/7 source run(s) with avg rank 2.17, best rank 1, recency score 31.98.

What this teaches the future Fund Agent

Macro gates exposure. Use the session-frozen regime the council actually saw (this week: Neutral (N)) — not a later live refresh.

Daily screen ≠ automatic trade. Aggregate leaders inform the slate; they do not bypass Chair decision or execution gates.

Chair decides, system records. Seats analyze and propose; the Chair adjudicates; minutes and execution receipts stay public on each fund’s Council tab.

Inspect the same workflow

All Funds base04 Council base05 Council base06 Council lg-base01 Council lg-base02 Council Macros Narratives

What this teaches the future Fund Agent

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