{
  "watchlist": [
    {
      "slug": "apple",
      "name": "Apple",
      "category": "Corporate Treasury",
      "focus": "Cash and marketable securities strength",
      "summary": "Apple stays on the board because its disclosed cash, equivalents, and marketable securities still make it one of the most visible liquidity stories in the public-company universe.",
      "watch": [
        "Liquidity changes buyback, investment, and acquisition room.",
        "Marketable securities matter as much as straight cash.",
        "The treasury stack is a strategy signal, not just a balance-sheet footnote."
      ],
      "sources": [
        "SEC EDGAR API",
        "Company investor relations"
      ],
      "dataPanels": [
        {
          "id": "la-apple-1",
          "mark": "I.",
          "title": "Apple Treasury Read",
          "cite": "Illustrative rolling estimate",
          "rows": [
            {
              "label": "Estimated liquid stack",
              "reel": {
                "anchorValue": "162000000000",
                "anchorTime": "2026-04-21T00:00:00Z",
                "perSecond": "5140",
                "prefix": "$",
                "color": "emerald",
                "size": "big"
              },
              "tip": "Rolling estimate anchored to reported figures and a simple annualized pace."
            },
            {
              "label": "Watch focus",
              "value": "Capital return optionality",
              "tone": "emerald",
              "tip": ""
            },
            {
              "label": "Primary source",
              "value": "Quarterly filing and IR release",
              "tone": "",
              "tip": ""
            }
          ],
          "span": "span-6"
        }
      ]
    },
    {
      "slug": "berkshire-hathaway",
      "name": "Berkshire Hathaway",
      "category": "Corporate Treasury",
      "focus": "Cash optionality at scale",
      "summary": "Berkshire matters because its cash position is watched as both a market signal and a strategic reserve for large future moves.",
      "watch": [
        "Cash size changes acquisition optionality.",
        "The balance matters differently when market valuations stretch.",
        "Investors read the cash pile as its own signal."
      ],
      "sources": [
        "SEC EDGAR API",
        "Company investor relations"
      ],
      "dataPanels": [
        {
          "id": "la-brk-1",
          "mark": "I.",
          "title": "Berkshire Treasury Read",
          "cite": "Illustrative rolling estimate",
          "rows": [
            {
              "label": "Estimated liquid stack",
              "reel": {
                "anchorValue": "189000000000",
                "anchorTime": "2026-04-21T00:00:00Z",
                "perSecond": "5990",
                "prefix": "$",
                "color": "emerald",
                "size": "big"
              },
              "tip": "Rolling estimate anchored to reported figures and a simple annualized pace."
            },
            {
              "label": "Watch focus",
              "value": "Dry powder and optionality",
              "tone": "emerald",
              "tip": ""
            },
            {
              "label": "Primary source",
              "value": "Quarterly filing and shareholder materials",
              "tone": "",
              "tip": ""
            }
          ],
          "span": "span-6"
        }
      ]
    },
    {
      "slug": "alphabet",
      "name": "Alphabet",
      "category": "Corporate Treasury",
      "focus": "Cash power and strategic capacity",
      "summary": "Alphabet stays on the watchlist because its liquidity stack shapes AI investment capacity, buybacks, and strategic patience.",
      "watch": [
        "Cash depth helps fund long-duration bets.",
        "Marketable securities keep the treasury story larger than cash alone.",
        "The liquid stack changes what can be pursued next."
      ],
      "sources": [
        "SEC EDGAR API",
        "Company investor relations"
      ],
      "dataPanels": [
        {
          "id": "la-goog-1",
          "mark": "I.",
          "title": "Alphabet Treasury Read",
          "cite": "Illustrative rolling estimate",
          "rows": [
            {
              "label": "Estimated liquid stack",
              "reel": {
                "anchorValue": "123000000000",
                "anchorTime": "2026-04-21T00:00:00Z",
                "perSecond": "3900",
                "prefix": "$",
                "color": "emerald",
                "size": "big"
              },
              "tip": "Rolling estimate anchored to reported figures and a simple annualized pace."
            },
            {
              "label": "Watch focus",
              "value": "AI and capex optionality",
              "tone": "emerald",
              "tip": ""
            },
            {
              "label": "Primary source",
              "value": "Quarterly filing and IR release",
              "tone": "",
              "tip": ""
            }
          ],
          "span": "span-6"
        }
      ]
    },
    {
      "slug": "japan",
      "name": "Japan",
      "category": "Sovereign Reserves",
      "focus": "Official reserve depth",
      "summary": "Japan belongs on the board because reserve depth is part of how customers read sovereign flexibility and currency defense capacity.",
      "watch": [
        "Reserve depth matters when market pressure rises.",
        "FX translation can alter the picture quickly.",
        "Official reserve figures deserve context, not headline treatment alone."
      ],
      "sources": [
        "Official reserve releases",
        "IMF reserve reporting"
      ],
      "dataPanels": [
        {
          "id": "la-jpn-1",
          "mark": "I.",
          "title": "Japan Reserve Read",
          "cite": "Illustrative rolling estimate",
          "rows": [
            {
              "label": "Estimated reserve stack",
              "reel": {
                "anchorValue": "1210000000000",
                "anchorTime": "2026-04-21T00:00:00Z",
                "perSecond": "38300",
                "prefix": "$",
                "color": "crimson",
                "size": "big"
              },
              "tip": "Rolling estimate anchored to reported figures and a simple annualized pace."
            },
            {
              "label": "Watch focus",
              "value": "Reserve durability",
              "tone": "emerald",
              "tip": ""
            },
            {
              "label": "Primary source",
              "value": "Official reserve release",
              "tone": "",
              "tip": ""
            }
          ],
          "span": "span-6"
        }
      ]
    },
    {
      "slug": "saudi-arabia",
      "name": "Saudi Arabia",
      "category": "Sovereign Reserves",
      "focus": "Reserve liquidity and policy room",
      "summary": "Saudi Arabia is watched because reserve liquidity still influences how customers read macro resilience, policy choices, and investment flexibility.",
      "watch": [
        "Reserve trends matter alongside energy revenue.",
        "Liquidity depth affects strategic room.",
        "The reserve story is more useful than a headline asset value alone."
      ],
      "sources": [
        "Official reserve releases",
        "IMF reserve reporting"
      ],
      "dataPanels": [
        {
          "id": "la-sau-1",
          "mark": "I.",
          "title": "Saudi Reserve Read",
          "cite": "Illustrative rolling estimate",
          "rows": [
            {
              "label": "Estimated reserve stack",
              "reel": {
                "anchorValue": "445000000000",
                "anchorTime": "2026-04-21T00:00:00Z",
                "perSecond": "14100",
                "prefix": "$",
                "color": "crimson",
                "size": "big"
              },
              "tip": "Rolling estimate anchored to reported figures and a simple annualized pace."
            },
            {
              "label": "Watch focus",
              "value": "Policy flexibility",
              "tone": "emerald",
              "tip": ""
            },
            {
              "label": "Primary source",
              "value": "Official reserve release",
              "tone": "",
              "tip": ""
            }
          ],
          "span": "span-6"
        }
      ]
    }
  ],
  "sources": [
    {
      "slug": "sec-edgar-api",
      "name": "SEC EDGAR API",
      "summary": "The strongest public source for reported public-company cash, equivalents, and marketable-securities disclosures.",
      "coverage": "Public-company filings and reported treasury lines.",
      "cadence": "Event-driven as filings arrive.",
      "url": "https://www.sec.gov/search-filings/edgar-application-programming-interfaces",
      "dataPanels": [
        {
          "id": "src-sec-1",
          "mark": "I.",
          "title": "Source Value",
          "cite": "Public-company disclosures",
          "rows": [
            {
              "label": "Best use",
              "value": "Anchor reported treasury pages",
              "tone": "emerald",
              "tip": ""
            },
            {
              "label": "Primary risk",
              "value": "Quarterly lag",
              "tone": "crimson",
              "tip": ""
            }
          ],
          "span": "span-6"
        }
      ]
    },
    {
      "slug": "company-investor-relations",
      "name": "Company Investor Relations",
      "summary": "A practical companion source for releases, presentations, and treasury-related disclosures that help customers interpret the filing trail.",
      "coverage": "Earnings materials, presentations, and official releases.",
      "cadence": "Quarterly and event-driven.",
      "url": "https://www.apple.com/investor/",
      "dataPanels": [
        {
          "id": "src-ir-1",
          "mark": "I.",
          "title": "Source Value",
          "cite": "Official company release layer",
          "rows": [
            {
              "label": "Best use",
              "value": "Context around filings",
              "tone": "emerald",
              "tip": ""
            },
            {
              "label": "Primary risk",
              "value": "Narrative without enough filing context",
              "tone": "crimson",
              "tip": ""
            }
          ],
          "span": "span-6"
        }
      ]
    },
    {
      "slug": "official-reserve-releases",
      "name": "Official Reserve Releases",
      "summary": "The primary sovereign source family for reserve depth, official reserve movement, and policy-facing liquidity context.",
      "coverage": "Central-bank or finance-ministry reserve updates.",
      "cadence": "Periodic official release schedule.",
      "url": "https://www.imf.org/en/Data",
      "dataPanels": [
        {
          "id": "src-reserve-1",
          "mark": "I.",
          "title": "Source Value",
          "cite": "Reserve reporting layer",
          "rows": [
            {
              "label": "Best use",
              "value": "Anchor sovereign reserve pages",
              "tone": "emerald",
              "tip": ""
            },
            {
              "label": "Primary risk",
              "value": "FX translation noise",
              "tone": "crimson",
              "tip": ""
            }
          ],
          "span": "span-6"
        }
      ]
    },
    {
      "slug": "public-fund-statistics",
      "name": "Public Fund Statistics",
      "summary": "A useful public source family for money-market and cash-like pooled assets when customers want the broader liquidity mood, not just single-entity balance sheets.",
      "coverage": "Fund assets, pooled liquidity, and short-duration cash behavior.",
      "cadence": "Periodic official or industry publication schedule.",
      "url": "https://www.ici.org/",
      "dataPanels": [
        {
          "id": "src-funds-1",
          "mark": "I.",
          "title": "Source Value",
          "cite": "Money-market context",
          "rows": [
            {
              "label": "Best use",
              "value": "Read cash regime behavior",
              "tone": "emerald",
              "tip": ""
            },
            {
              "label": "Primary risk",
              "value": "Different publication cadences",
              "tone": "",
              "tip": ""
            }
          ],
          "span": "span-6"
        }
      ]
    }
  ]
}