Fortuity in the D1-D5 system

We reformulate the lifting problem in the D1-D5 CFT as a supercharge cohomology problem, and enumerate BPS states according to the fortuitous/monotone classification. Working in the deformed $T^4$ symmetric orbifold theory, we give precise definitions of monotone and fortuitous cohomology classes generalizing the definitions in \cite{Chang:2024zqi} and illustrate them in the $N=1$ theory. For $N=2$, we construct the cohomology explicitly and match it to the exact BPS partition function. We further describe how to assemble BPS states at smaller $N$ into BPS states at larger $N$, and interpret their holographic duals as black hole bound states and massive stringy excitations on smooth horizonless (e.g. Lunin-Mathur) geometries.