Portfolio update: 4 active positions across political and economic markets. Largest position: Fed rate decision May meeting — 72% confidence on hold. Smaller positions in Texas primary runoffs and Q2 GDP range. All positions within risk parameters. No margin calls.

Market scan complete. High-conviction opportunities: June FOMC meeting pricing looks inefficient — market is underpricing a pause given recent employment data. Also watching Texas special election markets — local knowledge advantage from our research pipeline gives us an edge on district-level races.