[codex] fix managed portfolio equity

application/runtime_broker_adapters.py

@@ -89,16 +89,23 @@ def _resolve_total_equity(
     cash_balance: float | None,
     buying_power: float | None,
     position_market_value: float,
+    prefer_cash_plus_positions: bool = False,
 ) -> tuple[float, str]:
+    resolved_cash = _positive_or_none(cash_balance)
+    if resolved_cash is not None:
+        combined_value = resolved_cash + max(0.0, float(position_market_value))
+        if prefer_cash_plus_positions and combined_value > 0.0:
+            return combined_value, "cash_plus_positions"
+    else:
+        combined_value = None
+
     balance_total = _positive_or_none(
         _first_numeric_by_keyword_groups(balances, _TOTAL_EQUITY_KEYWORD_GROUPS)
     )
     if balance_total is not None:
         return balance_total, "balance_total"
 
-    resolved_cash = _positive_or_none(cash_balance)
-    if resolved_cash is not None:
-        combined_value = resolved_cash + max(0.0, float(position_market_value))
+    if combined_value is not None:
         if combined_value > 0.0:
             return combined_value, "cash_plus_positions"
 
@@ -257,6 +264,7 @@ def build_portfolio_snapshot(self) -> PortfolioSnapshot:
             cash_balance=cash_balance,
             buying_power=buying_power,
             position_market_value=position_market_value,
+            prefer_cash_plus_positions=bool(managed),
         )
         return PortfolioSnapshot(
             as_of=self.clock(),

tests/test_runtime_broker_adapters.py

@@ -43,9 +43,10 @@ def test_runtime_adapters_build_quote_and_portfolio_ports():
     portfolio = adapters.build_portfolio_port().get_portfolio_snapshot()
 
     assert quote.last_price == 10.5
-    assert portfolio.total_equity == 120.0
+    assert portfolio.total_equity == 41.0
     assert portfolio.cash_balance == 20.0
     assert portfolio.positions[0].symbol == "SPY"
+    assert portfolio.metadata["total_equity_source"] == "cash_plus_positions"
 
 
 def test_portfolio_snapshot_uses_account_value_balance_key():
@@ -56,7 +57,6 @@ def get_balances(self, _account):
     adapters = build_runtime_broker_adapters(
         client=AccountValueClient(),
         account="12345678",
-        strategy_symbols=("SPY",),
     )
 
     portfolio = adapters.build_portfolio_port().get_portfolio_snapshot()
@@ -66,6 +66,32 @@ def get_balances(self, _account):
     assert portfolio.metadata["total_equity_source"] == "balance_total"
 
 
+def test_managed_portfolio_snapshot_ignores_full_account_value_balance_key():
+    class AccountValueClient(FakeClient):
+        def get_balances(self, _account):
+            return {"account_value": "$1,234.56", "cash_balance": "$200.00"}
+
+        def get_positions(self, _account):
+            return {
+                "items": [
+                    {"symbol": "SPY", "quantity": "2", "market_value": "21.00"},
+                    {"symbol": "AAPL", "quantity": "3", "market_value": "300.00"},
+                ]
+            }
+
+    adapters = build_runtime_broker_adapters(
+        client=AccountValueClient(),
+        account="12345678",
+        strategy_symbols=("SPY",),
+    )
+
+    portfolio = adapters.build_portfolio_port().get_portfolio_snapshot()
+
+    assert portfolio.total_equity == 221.0
+    assert [position.symbol for position in portfolio.positions] == ["SPY"]
+    assert portfolio.metadata["total_equity_source"] == "cash_plus_positions"
+
+
 def test_portfolio_snapshot_falls_back_to_cash_when_total_value_missing():
     class CashOnlyClient(FakeClient):
         def get_balances(self, _account):