> For the complete documentation index, see [llms.txt](https://docs.enzyme.finance/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://docs.enzyme.finance/onyx-protocol/general-flows/share-value-update.md).
# Share Value Update
{% @mermaid/diagram content=" sequenceDiagram
actor Admin as admin
participant VH as ValuationHandler
participant PT as Position Trackers
participant FM as FeeManager
participant S as Shares
```
Admin->>VH: update share value:
- $untrackedPositionsValue
VH->>PT: getPositionValue() for each
PT-->>VH: trackedPositionsValue
VH-->>VH: totalPositionsValue =
$untrackedPositionsValue + trackedPositionsValue
VH->>FM: settle dynamic fees (management + performance)
Note over FM: see "Fee Settlement" flow
VH->>FM: get: total fees owed
FM-->>VH: totalFeesOwed
VH-->>VH: netPositionsValue = totalPositionsValue - totalFeesOwed
VH->>S: get: total supply of shares
S-->>VH: shares supply
VH-->>VH: netShareValue = netPositionsValue / shares supply
VH->>VH: store netShareValue with timestamp" %}
```
---
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