> ## Documentation Index
> Fetch the complete documentation index at: https://docs.sterlinglabs.co/llms.txt
> Use this file to discover all available pages before exploring further.

# How the portfolio numbers are computed

> Why Sterling's portfolio figures can differ from your broker's app, and how splits, options, margin and cash are handled.

## Why figures differ from your broker

| Reason | What happens |
| - | - |
| Live pricing | During the session, U.S. stocks and ETFs are valued at Sterling's live prices. Your broker may show a delayed quote or a settlement price. Hover a **Price** in Positions to see how recent it is |
| Sync delay | Changes at your broker reach Sterling after a delay that varies by broker. Hover a brokerage in the page header to see when it last synced |
| Separate reads | Balances, positions and account value come from separate broker reads and can be briefly out of step |
| Securities Sterling doesn't price | Over-the-counter names, foreign ordinaries, very new listings and fixed income use your broker's figures, or are marked as missing a price |
| Sweep funds | Money-market sweep funds are counted as cash, so Sterling's cash can differ from your broker's home screen |
| Maintenance | Brokers have maintenance windows when their figures don't update |

## Trading hours

The KPI cards and the charts use regular trading hours only. **Price** in Positions can include after-hours trades, so after the close a position's price can differ from the cards.

## When a total is missing

Sterling doesn't show a total when part of it is unknown. This happens when a holding has neither a live price nor a figure from your broker, when the account holds cash in another currency, or when an option's contract size is unknown.

The KPI cards then show a row of dots, and the Positions totals show a dash with an info icon. Hover either for the reason. The positions that can be priced are still listed.

## Special cases

| Case | How Sterling handles it |
| - | - |
| Stock splits | The value and compare charts carry through a split smoothly. Positions and the KPI cards depend on your broker updating the share count. Until it does, a symbol can show a large false loss, and its cost basis and realized P\&L are withheld |
| Options | Each leg is its own row at the figures your broker last reported. Options aren't priced live and aren't included when Sterling explains a move. A leg with an unknown contract size stops totals from being shown |
| Margin | A margin loan appears as negative cash. Sterling doesn't show a margin balance or requirement. **Gross exposure** above 100% means your positions add up to more than the book is worth |
| Cash | Cash is the figure your broker reports. Cash in another currency appears as its own row, isn't converted to dollars, and stops totals from being shown |
| Cash-only accounts | Positions shows the cash rows, the value chart is a flat line at the cash balance, and most KPI cards show dots |
| History | Value history goes back to May 2018 at the earliest, and no earlier than your youngest holding that can be priced. The same limit applies to risk figures that cover the book's whole history. **Sharpe** covers only the past year |

## Frequently asked questions

### Why does a price look out of date?

Sterling uses the most recent trade in a symbol. On a thinly traded symbol, that trade can be minutes or hours old. Holdings Sterling doesn't price live, such as options, show your broker's last reported price. Hover the **Price** in Positions to see when it was set.

## Related articles

* [Your portfolio in Sterling](/portfolio/what-is-portfolio)
* [The Portfolio overview](/portfolio/reading-your-portfolio)
* [Trade Log and Activity](/portfolio/trade-log-and-activity)
* [Connecting a brokerage](/portfolio/setting-up-your-portfolio)


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