0.2.33: exited positions (secondary-sale edge case)

A member who sold/transferred their stake showed a phantom -100% loss
($0 ending balance, no distribution through the fund). Now:
- entity_access.exited_on (migration e1f2a3b4c5d6), set/cleared from the
  Partners tab (writer-only, inline date picker, audited)
- LP portal card shows a quiet "Exited <date>" badge, keeps documents,
  hides balance/gain
- portfolio summary excludes exited positions ("Excludes N exited")
- fund committed totals (rollup + Partners tab) skip exited members so
  seller + buyer are not double-counted

Co-Authored-By: Claude Opus 4.8 <noreply@anthropic.com>
This commit is contained in:
Jonathan Kirkwood
2026-07-03 08:54:19 -05:00
co-authored by Claude Opus 4.8
parent 4215d4478f
commit a639ba14cf
14 changed files with 355 additions and 17 deletions
@@ -0,0 +1,27 @@
"""add entity_access.exited_on (member sold/transferred their stake)
Revision ID: e1f2a3b4c5d6
Revises: d0e1f2a3b4c5
Create Date: 2026-07-03 10:30:00.000000
"""
from typing import Sequence, Union
from alembic import op
import sqlalchemy as sa
revision: str = 'e1f2a3b4c5d6'
down_revision: Union[str, None] = 'd0e1f2a3b4c5'
branch_labels: Union[str, Sequence[str], None] = None
depends_on: Union[str, Sequence[str], None] = None
def upgrade() -> None:
with op.batch_alter_table('entity_access', schema=None) as batch_op:
batch_op.add_column(sa.Column('exited_on', sa.Date(), nullable=True))
def downgrade() -> None:
with op.batch_alter_table('entity_access', schema=None) as batch_op:
batch_op.drop_column('exited_on')
+4
View File
@@ -175,6 +175,10 @@ class EntityAccess(SQLModel, table=True):
id: int | None = Field(default=None, primary_key=True)
user_id: int = Field(foreign_key="users.id")
entity_id: int = Field(foreign_key="entities.id", index=True)
# Set when this member sold/transferred their stake (e.g. a secondary sale): the fund's
# books show a $0 balance with no distribution, which is NOT a loss. An exited position
# shows a badge instead of gain/loss, keeps its documents, and drops out of totals.
exited_on: date | None = Field(default=None)
created_at: datetime = Field(default_factory=datetime.utcnow)
@@ -10,7 +10,7 @@ from ten31portal.auth import (
)
from ten31portal.database import get_session
from ten31portal.models import (
CapitalAccountStatement, Entity, User, UserRole,
CapitalAccountStatement, Entity, EntityAccess, User, UserRole,
)
from ten31portal.schemas import CapitalAccountCreate, CapitalAccountResponse
@@ -57,10 +57,22 @@ def list_statements(
col(User.id).in_({r.investor_user_id for r in rows})
)
).all()) if rows else {}
# And each (investor, entity)'s exit date, so a sold/transferred stake renders as
# "Exited" instead of a phantom -100% loss.
exits = {
(a.user_id, a.entity_id): a.exited_on
for a in session.exec(
select(EntityAccess).where(
col(EntityAccess.user_id).in_({r.investor_user_id for r in rows}),
col(EntityAccess.exited_on).is_not(None),
)
).all()
} if rows else {}
out: list[CapitalAccountResponse] = []
for r in rows:
data = CapitalAccountResponse.model_validate(r, from_attributes=True)
data.investor_name = names.get(r.investor_user_id)
data.exited_on = exits.get((r.investor_user_id, r.entity_id))
out.append(data)
return out
+51 -4
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@@ -17,7 +17,8 @@ from ten31portal.models import (
)
from ten31portal.schemas import (
AssetBalancesResponse, CapitalAccountResponse, EntityCreate, EntityResponse,
EntityStakeCreate, EntityStakeResponse, EntityUpdate, PartnerResponse,
EntityStakeCreate, EntityStakeResponse, EntityUpdate, PartnerExitUpdate,
PartnerResponse,
)
router = APIRouter(prefix="/api/entities", tags=["entities"])
@@ -75,13 +76,21 @@ def entity_rollup(
last_signed_value_cents = int(val_sum)
# Total committed capital = each investor's most recent commitment for this entity.
# Exited members (stake sold/transferred) are skipped — their buyer's commitment now
# appears on the roster, so counting both would double the fund's committed total.
stmts = session.exec(
select(CapitalAccountStatement)
.where(CapitalAccountStatement.entity_id == ent.id)
.order_by(CapitalAccountStatement.as_of_date.desc()) # type: ignore[union-attr]
).all()
exited_ids = set(session.exec(
select(EntityAccess.user_id).where(
EntityAccess.entity_id == ent.id,
col(EntityAccess.exited_on).is_not(None),
)
).all())
committed_cents = 0
seen_investors: set[int] = set()
seen_investors: set[int] = set(exited_ids)
for st in stmts:
if st.investor_user_id in seen_investors:
continue
@@ -114,14 +123,14 @@ def list_partners(
raise HTTPException(status_code=404, detail="Entity not found")
members = session.exec(
select(User)
select(User, EntityAccess)
.join(EntityAccess, EntityAccess.user_id == User.id)
.where(EntityAccess.entity_id == entity_id, User.role == UserRole.investor)
.order_by(User.name) # type: ignore[arg-type]
).all()
result: list[PartnerResponse] = []
for m in members:
for m, access in members:
stmts = session.exec(
select(CapitalAccountStatement)
.where(
@@ -144,10 +153,48 @@ def list_partners(
latest_value_cents=latest.ending_balance_cents if latest else None,
latest_as_of=latest.as_of_date if latest else None,
statements_count=len(stmts),
exited_on=access.exited_on,
))
return result
@router.put("/{entity_id}/partners/{user_id}/exited")
def set_partner_exited(
entity_id: int,
user_id: int,
body: PartnerExitUpdate,
admin: User = Depends(require_writer),
session: Session = Depends(get_session),
) -> PartnerResponse:
"""Mark a member as exited from this fund (stake sold/transferred), or clear it.
Their statements and documents stay; the portal shows an Exited badge instead of a
phantom -100% and drops the position from portfolio and fund committed totals.
"""
access = session.exec(
select(EntityAccess).where(
EntityAccess.entity_id == entity_id, EntityAccess.user_id == user_id
)
).first()
if access is None:
raise HTTPException(status_code=404, detail="That member has no access to this fund")
member = session.get(User, user_id)
if member is None or member.role != UserRole.investor:
raise HTTPException(status_code=400, detail="Only investor members can be marked exited")
access.exited_on = body.exited_on
session.add(access)
record_audit(session, admin.id, "set_exited", "entity_access", access.id, {
"entity_id": entity_id,
"user_id": user_id,
"exited_on": str(body.exited_on) if body.exited_on else None,
})
session.commit()
# Return the member's refreshed partner row for easy UI updates.
return next(p for p in list_partners(entity_id, admin, session) if p.user_id == user_id)
@router.delete("/{entity_id}/partners")
def clear_partners(
entity_id: int,
+8
View File
@@ -243,6 +243,9 @@ class CapitalAccountResponse(BaseModel):
ending_balance_cents: int
document_id: int | None
created_at: datetime
# Date the member sold/transferred this stake (from EntityAccess); the portal shows an
# "Exited" badge instead of a phantom -100% and drops the position from totals.
exited_on: date | None = None
# --- Partners (members of an entity) ---
@@ -260,6 +263,11 @@ class PartnerResponse(BaseModel):
latest_value_cents: int | None
latest_as_of: date | None
statements_count: int
exited_on: date | None = None
class PartnerExitUpdate(BaseModel):
exited_on: date | None # null clears the exit (marks the member active again)
# --- Access matrix ---
+99
View File
@@ -0,0 +1,99 @@
"""Exited positions (0.2.33): a member who sold/transferred their stake shows as exited
instead of a phantom -100% loss, and drops out of committed totals."""
from datetime import date
from sqlmodel import select
from ten31portal.models import (
CapitalAccountStatement, Entity, EntityAccess, EntityType, UserRole,
)
from tests.conftest import make_user
def _setup_fund(session, *, commitment=4_000_000_00, balance=0):
entity = Entity(name="Pawn Fund", type=EntityType.spv)
session.add(entity)
session.commit()
lp = make_user(session, username="seller", role=UserRole.investor, name="Seller LP")
session.add(EntityAccess(user_id=lp.id, entity_id=entity.id))
session.add(CapitalAccountStatement(
entity_id=entity.id, investor_user_id=lp.id, as_of_date=date(2026, 3, 31),
commitment_cents=commitment, beginning_balance_cents=0,
contributions_cents=commitment, distributions_cents=0,
ending_balance_cents=balance,
))
session.commit()
return entity, lp
def test_mark_exited_flows_to_partners_and_statements(auth_client, session):
entity, lp = _setup_fund(session)
resp = auth_client.put(
f"/api/entities/{entity.id}/partners/{lp.id}/exited",
json={"exited_on": "2026-05-15"},
)
assert resp.status_code == 200, resp.text
assert resp.json()["exited_on"] == "2026-05-15"
partners = auth_client.get(f"/api/entities/{entity.id}/partners").json()
assert partners[0]["exited_on"] == "2026-05-15"
# The LP's own capital-account view carries the exit date.
lp_client = auth_client
lp_client.post("/api/auth/logout")
assert lp_client.post(
"/api/auth/login", json={"login": "seller", "password": "password123"}
).status_code == 200
accounts = lp_client.get("/api/capital-accounts").json()
assert accounts[0]["exited_on"] == "2026-05-15"
# Undo clears it.
lp_client.post("/api/auth/logout")
assert lp_client.post(
"/api/auth/login", json={"login": "approver", "password": "password123"}
).status_code == 200
resp = lp_client.put(
f"/api/entities/{entity.id}/partners/{lp.id}/exited", json={"exited_on": None}
)
assert resp.status_code == 200
assert resp.json()["exited_on"] is None
def test_exited_member_excluded_from_rollup_committed(auth_client, session):
entity, seller = _setup_fund(session)
# The buyer joins the roster with the same commitment (they bought the stake).
buyer = make_user(session, username="buyer", role=UserRole.investor, name="Buyer LP")
session.add(EntityAccess(user_id=buyer.id, entity_id=entity.id))
session.add(CapitalAccountStatement(
entity_id=entity.id, investor_user_id=buyer.id, as_of_date=date(2026, 6, 30),
commitment_cents=4_000_000_00, beginning_balance_cents=0,
contributions_cents=4_000_000_00, distributions_cents=0,
ending_balance_cents=4_200_000_00,
))
session.commit()
# Before the exit both commitments count — the double-count problem.
rollup = auth_client.get("/api/entities/rollup").json()
row = next(r for r in rollup if r["id"] == entity.id)
assert row["committed_cents"] == 8_000_000_00
assert auth_client.put(
f"/api/entities/{entity.id}/partners/{seller.id}/exited",
json={"exited_on": "2026-05-15"},
).status_code == 200
rollup = auth_client.get("/api/entities/rollup").json()
row = next(r for r in rollup if r["id"] == entity.id)
assert row["committed_cents"] == 4_000_000_00
def test_exited_requires_membership(auth_client, session):
entity, _ = _setup_fund(session)
stranger = make_user(session, username="stranger", role=UserRole.investor)
resp = auth_client.put(
f"/api/entities/{entity.id}/partners/{stranger.id}/exited",
json={"exited_on": "2026-05-15"},
)
assert resp.status_code == 404
+1 -1
View File
@@ -1,6 +1,6 @@
{
"name": "ten31portal-startos",
"version": "0.2.32",
"version": "0.2.33",
"private": true,
"scripts": {
"build": "npm run check && rm -rf ./javascript && ncc build startos/index.ts -o ./javascript",
+3 -2
View File
@@ -1,4 +1,4 @@
export { v_0_2_32 as current } from './v_0_2_32'
export { v_0_2_33 as current } from './v_0_2_33'
import { v_0_1_0 } from './v_0_1_0'
import { v_0_2_0 } from './v_0_2_0'
import { v_0_2_1 } from './v_0_2_1'
@@ -31,4 +31,5 @@ import { v_0_2_28 } from './v_0_2_28'
import { v_0_2_29 } from './v_0_2_29'
import { v_0_2_30 } from './v_0_2_30'
import { v_0_2_31 } from './v_0_2_31'
export const other = [v_0_1_0, v_0_2_0, v_0_2_1, v_0_2_3, v_0_2_4, v_0_2_5, v_0_2_6, v_0_2_7, v_0_2_8, v_0_2_9, v_0_2_10, v_0_2_11, v_0_2_12, v_0_2_13, v_0_2_14, v_0_2_15, v_0_2_16, v_0_2_17, v_0_2_18, v_0_2_19, v_0_2_20, v_0_2_21, v_0_2_22, v_0_2_23, v_0_2_24, v_0_2_25, v_0_2_26, v_0_2_27, v_0_2_28, v_0_2_29, v_0_2_30, v_0_2_31]
import { v_0_2_32 } from './v_0_2_32'
export const other = [v_0_1_0, v_0_2_0, v_0_2_1, v_0_2_3, v_0_2_4, v_0_2_5, v_0_2_6, v_0_2_7, v_0_2_8, v_0_2_9, v_0_2_10, v_0_2_11, v_0_2_12, v_0_2_13, v_0_2_14, v_0_2_15, v_0_2_16, v_0_2_17, v_0_2_18, v_0_2_19, v_0_2_20, v_0_2_21, v_0_2_22, v_0_2_23, v_0_2_24, v_0_2_25, v_0_2_26, v_0_2_27, v_0_2_28, v_0_2_29, v_0_2_30, v_0_2_31, v_0_2_32]
@@ -0,0 +1,13 @@
import { VersionInfo } from '@start9labs/start-sdk'
export const v_0_2_33 = VersionInfo.of({
version: '0.2.33:0',
releaseNotes: {
en_US:
"Exited positions: a member who sold or transferred their stake (secondary sale) can be marked 'Exited' on the fund's Partners tab. Their portal card shows a quiet Exited badge instead of a phantom -100% loss, documents stay available, and the position drops out of the investor's portfolio totals and the fund's committed totals (avoiding seller+buyer double-counting).",
},
migrations: {
up: async ({ effects }) => {},
down: async ({ effects }) => {},
},
})
+1 -1
View File
@@ -3,7 +3,7 @@
// - content-hashed /assets/* are cache-first (immutable, safe forever)
// - /api/* is never cached
// Bump CACHE on each release so old entries are purged.
const CACHE = 'ten31-portal-0.2.32'
const CACHE = 'ten31-portal-0.2.33'
self.addEventListener('install', () => self.skipWaiting())
+7
View File
@@ -86,6 +86,7 @@ export interface Partner {
latest_value_cents: number | null;
latest_as_of: string | null;
statements_count: number;
exited_on: string | null;
}
export interface AccessGrant {
@@ -160,6 +161,7 @@ export interface CapitalAccount {
ending_balance_cents: number;
document_id: number | null;
created_at: string;
exited_on: string | null;
}
export interface Entity {
@@ -313,6 +315,11 @@ export const api = {
`/api/entities/${entityId}/partners`,
{ method: "DELETE" },
),
setPartnerExited: (entityId: number, userId: number, exitedOn: string | null) =>
request<Partner>(`/api/entities/${entityId}/partners/${userId}/exited`, {
method: "PUT",
body: JSON.stringify({ exited_on: exitedOn }),
}),
createEntity: (data: Partial<Entity>) =>
request<Entity>("/api/entities", { method: "POST", body: JSON.stringify(data) }),
updateEntity: (id: number, data: Partial<Entity>) =>
+80 -5
View File
@@ -14,6 +14,9 @@ export default function EntityPartners() {
const [notice, setNotice] = useState("");
const [clearing, setClearing] = useState(false);
const [loading, setLoading] = useState(true);
// Row currently getting an exit date (inline date picker), and the chosen date.
const [exitingId, setExitingId] = useState<number | null>(null);
const [exitDate, setExitDate] = useState(() => new Date().toISOString().slice(0, 10));
const isWriter = !!user && canEditRound(user.role);
@@ -57,10 +60,26 @@ export default function EntityPartners() {
}
}
async function saveExit(userId: number, exitedOn: string | null) {
if (!entity) return;
setError("");
try {
const updated = await api.setPartnerExited(entity.id, userId, exitedOn);
setPartners((prev) => prev.map((p) => (p.user_id === userId ? updated : p)));
setExitingId(null);
} catch (err: any) {
setError(err.message || "Failed to update exit status");
}
}
if (loading || !entity) return <div className="text-gray-500 text-sm">Loading</div>;
const totalCommitted = partners.reduce((s, p) => s + (p.latest_commitment_cents || 0), 0);
const totalCapital = partners.reduce((s, p) => s + (p.latest_value_cents || 0), 0);
// Exited members (stake sold/transferred) stay on the roster but out of the totals —
// otherwise a seller and their buyer would both be counted.
const active = partners.filter((p) => !p.exited_on);
const exitedCount = partners.length - active.length;
const totalCommitted = active.reduce((s, p) => s + (p.latest_commitment_cents || 0), 0);
const totalCapital = active.reduce((s, p) => s + (p.latest_value_cents || 0), 0);
return (
<div>
@@ -78,6 +97,11 @@ export default function EntityPartners() {
Total committed: <span className="font-medium">{formatMoneyExact(totalCommitted)}</span>
<span className="mx-2 text-gray-300">·</span>
Total capital: <span className="font-medium">{formatMoneyExact(totalCapital)}</span>
{exitedCount > 0 && (
<span className="ml-2 text-xs text-gray-400">
(excludes {exitedCount} exited)
</span>
)}
</p>
{isWriter && partners.length > 0 && (
<button
@@ -98,6 +122,7 @@ export default function EntityPartners() {
<th className="px-4 py-2 font-medium">Member</th>
<th className="px-4 py-2 font-medium">Investor ID</th>
<th className="px-4 py-2 font-medium">Login</th>
<th className="px-4 py-2 font-medium">Status</th>
<th className="px-4 py-2 font-medium">As of</th>
<th className="px-4 py-2 font-medium text-right">Committed</th>
<th className="px-4 py-2 font-medium text-right">Paid-in</th>
@@ -107,9 +132,9 @@ export default function EntityPartners() {
</thead>
<tbody>
{partners.map((p) => (
<tr key={p.user_id} className="border-t border-gray-100">
<tr key={p.user_id} className={`border-t border-gray-100 ${p.exited_on ? "text-gray-400" : ""}`}>
<td className="px-4 py-2">
<div className="text-gray-900">{p.name}</div>
<div className={p.exited_on ? "text-gray-500" : "text-gray-900"}>{p.name}</div>
<div className="text-xs text-gray-400">{p.username}</div>
</td>
<td className="px-4 py-2 text-gray-600">{p.external_investor_id ?? "—"}</td>
@@ -122,6 +147,56 @@ export default function EntityPartners() {
<span className="text-amber-600">No login yet</span>
)}
</td>
<td className="px-4 py-2 whitespace-nowrap">
{p.exited_on ? (
<span>
<span className="text-xs font-medium uppercase text-gray-500 bg-gray-100 px-1.5 py-0.5 rounded">
Exited {formatDate(p.exited_on)}
</span>
{isWriter && (
<button
onClick={() => saveExit(p.user_id, null)}
className="ml-2 text-xs text-accent-600 hover:text-accent-700"
>
Undo
</button>
)}
</span>
) : exitingId === p.user_id ? (
<span className="flex items-center gap-1.5">
<input
type="date"
value={exitDate}
onChange={(e) => setExitDate(e.target.value)}
className="px-1.5 py-0.5 border border-gray-300 rounded text-xs"
/>
<button
onClick={() => exitDate && saveExit(p.user_id, exitDate)}
className="text-xs text-accent-600 hover:text-accent-700 font-medium"
>
Save
</button>
<button
onClick={() => setExitingId(null)}
className="text-xs text-gray-400 hover:text-gray-600"
>
Cancel
</button>
</span>
) : (
<span>
<span className="text-gray-600">Member</span>
{isWriter && (
<button
onClick={() => setExitingId(p.user_id)}
className="ml-2 text-xs text-gray-400 hover:text-gray-600"
>
Mark exited
</button>
)}
</span>
)}
</td>
<td className="px-4 py-2 text-gray-500">
{p.latest_as_of ? formatDate(p.latest_as_of) : "—"}
</td>
@@ -141,7 +216,7 @@ export default function EntityPartners() {
))}
{partners.length === 0 && (
<tr>
<td colSpan={8} className="px-4 py-6 text-center text-gray-400">
<td colSpan={9} className="px-4 py-6 text-center text-gray-400">
No members yet. Import the eNAV ALLOC SI tab from Import Statements, or grant
access on the Access Grid.
</td>
+47 -2
View File
@@ -27,9 +27,23 @@ export default function InvestorPortalView({
// When this login covers several legal names (e.g. an IRA and a trust), label each block.
const showNames = new Set(accounts.map((a) => a.investor_user_id)).size > 1;
// Exited positions (stake sold/transferred) keep their card + documents but stay out of
// the portfolio totals — a $0 balance from a sale is not a loss.
const activeAccounts = accounts.filter((a) => !a.exited_on);
const activeEntityCount = new Set(activeAccounts.map((a) => a.entity_id)).size;
const exitedPositions = new Set(
accounts.filter((a) => a.exited_on).map((a) => `${a.entity_id}:${a.investor_user_id}`),
).size;
return (
<div className="space-y-8">
{entities.length > 1 && <PortfolioSummary accounts={accounts} count={entities.length} />}
{activeEntityCount > 1 && (
<PortfolioSummary
accounts={activeAccounts}
count={activeEntityCount}
exitedCount={exitedPositions}
/>
)}
{entities.map((e) => (
<FundSection
key={e.id}
@@ -44,7 +58,15 @@ export default function InvestorPortalView({
}
// One quiet navy card answering the multi-fund LP's first question: the total across Ten31.
function PortfolioSummary({ accounts, count }: { accounts: CapitalAccount[]; count: number }) {
function PortfolioSummary({
accounts,
count,
exitedCount,
}: {
accounts: CapitalAccount[];
count: number;
exitedCount: number;
}) {
// Latest statement per (fund, legal name); summed across all of them.
const totals = useMemo(() => {
const latest = new Map<string, CapitalAccount>();
@@ -100,6 +122,11 @@ function PortfolioSummary({ accounts, count }: { accounts: CapitalAccount[]; cou
)}
</div>
</div>
{exitedCount > 0 && (
<p className="mt-3 text-xs text-brand-300">
Excludes {exitedCount} exited position{exitedCount === 1 ? "" : "s"}.
</p>
)}
</section>
);
}
@@ -238,6 +265,24 @@ function CapitalBlock({
// Collapsed by default so the portal opens clean; the investor expands the trend per fund.
const [showChart, setShowChart] = useState(false);
// A sold/transferred stake: the fund's books show $0 with no distribution, which is not a
// loss. Show a quiet Exited badge and keep the documents; no balance, no gain/loss.
if (latest.exited_on) {
return (
<div className={divider ? "mt-6 pt-5 border-t border-gray-100" : "mt-3"}>
{label && <p className="text-sm font-medium text-gray-700">{label}</p>}
<p className="mt-2">
<span className="text-xs font-medium uppercase text-gray-500 bg-gray-100 px-2 py-1 rounded">
Exited {formatDate(latest.exited_on)}
</span>
</p>
<p className="text-sm text-gray-400 mt-2">
This position was sold or transferred. Documents remain available below.
</p>
</div>
);
}
return (
<div className={divider ? "mt-6 pt-5 border-t border-gray-100" : "mt-3"}>
{label && <p className="text-sm font-medium text-gray-700">{label}</p>}
+1 -1
View File
@@ -1,4 +1,4 @@
// Bumped each release so the running build is visible in the UI.
// If the number shown in the app doesn't match the installed s9pk version,
// the new frontend isn't actually being served.
export const APP_VERSION = "0.2.32";
export const APP_VERSION = "0.2.33";