Who holds ticker verified against the SEC company list on 2026-09-10 — a reviewed name-and-class mapping row, never an inferred symbol. how tickers are mapped ↗

APPLOVIN CORP · COM CL A · quarter ended 2026-03-31 · 6 members disclosed APP ↗

13F filers reporting this class for the quarter ended 2026-03-31; 1–500 of 1,045 holders are listed, largest first: 1,045
sum of the reported values across every holder; NULL values are excluded, never zero-filled: $72.2B
holders whose share count rose or who opened the position (new + add), by shares: 504
holders absent this quarter after holding last quarter — inferred from absence, not a sale record: 302

Holders — quarter ended 2026-03-31

ranked by reported value · Δ shares vs 2025-12-31 · kind by shares

13F holders of APP ranked by reported value
#	Filer	Reported value	Shares	Δ shares	Change
1	BlackRock, Inc.	$9.4B	23,640,172	−531,525	TRIM
2	VANGUARD CAPITAL MANAGEMENT LLC	$6.7B	16,750,884	—	NO PRIOR
3	FMR LLC	$6.2B	15,691,414	+2,600,386	ADD
4	STATE STREET CORP	$4.7B	11,767,329	−137,514	TRIM
5	BAILLIE GIFFORD & CO	$2.7B	6,700,132	+533,783	ADD
6	VANGUARD PORTFOLIO MANAGEMENT LLC	$2.4B	5,935,893	—	NO PRIOR
7	MORGAN STANLEY	$2.2B	5,604,841	+43,195	ADD
8	WCM INVESTMENT MANAGEMENT, LLC	$1.9B	5,001,600	+245,290	ADD
9	Invesco Ltd.	$1.6B	4,144,716	−676,330	TRIM
10	KENSICO CAPITAL MANAGEMENT CORP	$1.3B	3,284,250	+165,750	ADD
11	ALLIANCEBERNSTEIN L.P.	$1.3B	1,880,716	+178,747	ADD
12	Capital World Investors	$1.3B	3,179,560	+401,011	ADD
13	BANK OF AMERICA CORP /DE/	$1.3B	3,155,406	−455,167	TRIM
14	Capital International Investors	$1.1B	2,824,060	+1,842,846	ADD
15	Capital Research Global Investors	$1.1B	2,638,869	+1,429,238	ADD
16	NORTHERN TRUST CORP	$958M	2,407,191	+7,687	ADD
17	JENNISON ASSOCIATES LLC	$916M	2,300,905	−436,119	TRIM
18	CHARLES SCHWAB INVESTMENT MANAGEMENT INC	$783M	1,968,560	+62,710	ADD
19	UBS Group AG	$725M	1,822,038	−3,800	TRIM
20	Janus Henderson Group Ltd.	$718M	1,815,061	−1,427,174	TRIM
21	SPRUCE HOUSE INVESTMENT MANAGEMENT LLC	$712M	1,790,000	−9,729	TRIM
22	Jericho Capital Asset Management L.P.	$668M	1,677,224	−418,095	TRIM
23	UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC	$642M	1,613,866	+25,430	ADD
24	VANGUARD FIDUCIARY TRUST CO	$611M	1,534,970	—	NO PRIOR
25	Legal & General Group Plc	$588M	1,478,558	−27,870	TRIM
26	LONE PINE CAPITAL LLC	$583M	1,464,923	+684,393	ADD
27	DIMENSIONAL FUND ADVISORS LP	$527M	1,324,244	−161,768	TRIM
28	COATUE MANAGEMENT LLC	$513M	1,290,008	−895,739	TRIM
29	SAPIENT CAPITAL LLC	$506M	1,271,473	+109	ADD
30	ROYAL BANK OF CANADA	$492M	1,236,093	+92,710	ADD
31	FRANKLIN RESOURCES INC	$492M	1,235,519	−598,929	TRIM
32	Amundi	$444M	1,115,419	−311,477	TRIM
33	WELLINGTON MANAGEMENT GROUP LLP	$435M	1,093,058	+210,845	ADD
34	MASSACHUSETTS FINANCIAL SERVICES CO /MA/	$399M	987,120	−23,869	TRIM
35	TIGER GLOBAL MANAGEMENT LLC	$398M	1,000,000	−292,984	TRIM
36	AMERICAN CENTURY COMPANIES INC	$395M	991,256	−9,023	TRIM
37	SANDS CAPITAL MANAGEMENT, LLC	$387M	971,561	−491,790	TRIM
38	WELLS FARGO & COMPANY/MN	$370M	928,576	−43,682	TRIM
39	Clearbridge Investments, LLC	$282M	708,732	−32,877	TRIM
40	Whale Rock Capital Management LLC	$277M	695,537	−112,819	TRIM
41	DEUTSCHE BANK AG\	$276M	692,742	−170,356	TRIM
42	Swiss National Bank	$269M	677,030	+44,720	ADD
43	Nuveen, LLC	$267M	670,864	−38,540	TRIM
44	D1 Capital Partners L.P.	$266M	669,282	0	NO CHANGE
45	ARROWSTREET CAPITAL, LIMITED PARTNERSHIP	$252M	632,819	+285,353	ADD
46	Mitsubishi UFJ Asset Management Co., Ltd.	$241M	606,693	+38,328	ADD
47	Vanguard Global Advisers, LLC	$235M	590,056	—	NO PRIOR
48	National Pension Service	$222M	558,327	+558,327	NEW
49	FIRST TRUST ADVISORS LP	$217M	546,146	+1,456	ADD
50	ENVESTNET ASSET MANAGEMENT INC	$195M	489,882	+54,491	ADD
51	CALIFORNIA PUBLIC EMPLOYEES RETIREMENT SYSTEM	$194M	488,574	+24,004	ADD
52	SEI INVESTMENTS CO	$188M	471,774	+65,890	ADD
53	MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd.	$181M	454,668	+25,836	ADD
54	TD ASSET MANAGEMENT INC	$178M	447,808	+87,856	ADD
55	ProShare Advisors LLC	$176M	442,379	−99,249	TRIM
56	RENAISSANCE TECHNOLOGIES LLC	$174M	436,540	+117,719	ADD
57	CITIGROUP INC	$166M	416,476	−129,182	TRIM
58	VANGUARD ASSET MANAGEMENT, Ltd	$163M	409,563	—	NO PRIOR
59	CANADA PENSION PLAN INVESTMENT BOARD	$163M	408,309	+53,288	ADD
60	HSBC HOLDINGS PLC	$160M	402,491	−431,283	TRIM
61	Ensign Peak Advisors, Inc	$155M	390,585	−95,641	TRIM
62	VOYA INVESTMENT MANAGEMENT LLC	$154M	386,029	−87,923	TRIM
63	BANK OF MONTREAL /CAN/	$137M	343,561	−32,548	TRIM
64	PRINCIPAL FINANCIAL GROUP INC	$134M	335,768	−1,881	TRIM
65	FIL Ltd	$129M	323,026	+37,462	ADD
66	Dorsey Asset Management, LLC	$126M	316,952	+316,952	NEW
67	D. E. Shaw & Co., Inc.	$121M	303,499	−159,738	TRIM
68	BNP Paribas Asset Management Holding S.A.	$114M	285,456	+5,392	ADD
69	Clear Street Group Inc.	$111M	277,872	+232,886	ADD
70	Universal- Beteiligungs- und Servicegesellschaft mbH	$110M	276,124	−18,467	TRIM
71	SUSQUEHANNA INTERNATIONAL GROUP, LLP	$108M	270,539	−113,502	TRIM
72	LPL Financial LLC	$102M	255,632	−48,128	TRIM
73	Quantinno Capital Management LP	$100M	251,891	+29,743	ADD
74	ADAGE CAPITAL PARTNERS GP, L.L.C.	$96.6M	242,800	−1,600	TRIM
75	Robertson Stephens Wealth Management, LLC	$96.6M	242,697	−148,292	TRIM
76	NOMURA ASSET MANAGEMENT CO LTD	$96.6M	242,588	+102,999	ADD
77	RAYMOND JAMES FINANCIAL INC	$94.5M	237,759	−19,352	TRIM
78	ROYAL LONDON ASSET MANAGEMENT LTD	$93.6M	235,139	+114,748	ADD
79	Panview Capital Ltd	$87.4M	219,684	+125,706	ADD
80	NORDEA INVESTMENT MANAGEMENT AB	$84.7M	219,550	−2,639	TRIM
81	STATE BOARD OF ADMINISTRATION OF FLORIDA RETIREMENT SYSTEM	$83.6M	210,151	−2,332	TRIM
82	NEOS Investment Management LLC	$82.2M	206,633	+49,172	ADD
83	AustralianSuper Pty Ltd	$80.6M	202,514	+100,514	ADD
84	NATIONAL BANK OF CANADA /FI/	$79.4M	199,380	+81,875	ADD
85	AVIVA PLC	$79.3M	199,329	+5,633	ADD
86	Greenstone Partners & Co., LLC	$77.7M	195,251	0	NO CHANGE
87	Swedbank AB	$76.7M	192,596	+1,049	ADD
88	Keenan Capital, LLC	$76.1M	191,225	+14,500	ADD
89	Mirae Asset Global Investments Co., Ltd.	$74.8M	187,947	−7,318	TRIM
90	No Street GP LP	$72.0M	181,000	+39,500	ADD
91	TORONTO DOMINION BANK	$70.8M	177,913	−12,001	TRIM
92	Allspring Global Investments Holdings, LLC	$70.6M	182,002	−36,588	TRIM
93	PACIFIC HEIGHTS ASSET MANAGEMENT LLC	$69.7M	175,000	+55,000	ADD
94	Korea Investment CORP	$69.4M	174,341	−73,957	TRIM
95	PRIMECAP MANAGEMENT CO/CA/	$69.2M	173,925	+21,400	ADD
96	IEQ CAPITAL, LLC	$67.5M	169,564	−15,515,834	TRIM
97	Spyglass Capital Management LLC	$66.3M	166,557	+45,919	ADD
98	PRUDENTIAL FINANCIAL INC	$63.2M	158,878	−38,477	TRIM
99	Epoch Investment Partners, Inc.	$62.9M	158,017	+63,638	ADD
100	SCHRODER INVESTMENT MANAGEMENT GROUP	$62.5M	156,922	−5,837	TRIM
101	USS Investment Management Ltd	$62.0M	155,818	+113,689	ADD
102	1832 Asset Management L.P.	$61.8M	155,170	−176,408	TRIM
103	MANUFACTURERS LIFE INSURANCE COMPANY, THE	$60.6M	152,282	−28,235	TRIM
104	PFA Pension, Forsikringsaktieselskab	$60.2M	151,169	+151,169	NEW
105	DnB Asset Management AS	$59.6M	149,666	+99,186	ADD
106	Blue Whale Capital LLP	$59.3M	149,100	+149,100	NEW
107	CIBC Asset Management Inc	$59.3M	148,920	+6,093	ADD
108	DANSKE BANK A/S	$59.1M	148,537	−4,677	TRIM
109	BLAIR WILLIAM & CO/IL	$55.7M	139,951	−154,488	TRIM
110	STOREBRAND ASSET MANAGEMENT AS	$55.7M	139,840	—	NO PRIOR
111	APG Asset Management N.V.	$55.0M	159,158	+1,640	ADD
112	STATE OF WISCONSIN INVESTMENT BOARD	$54.9M	137,907	+10,394	ADD
113	Corient Private Wealth LLC	$54.7M	137,918	−4,200,732	TRIM
114	Baker Avenue Asset Management, LP	$53.8M	135,301	+52,752	ADD
115	Chevy Chase Trust Holdings, LLC	$53.2M	133,546	−3,845	TRIM
116	CITADEL ADVISORS LLC	$53.0M	133,261	+50,416	ADD
117	Temasek Holdings (Private) Ltd	$52.5M	131,822	−8,905	TRIM
118	Altshuler Shaham Ltd	$50.9M	127,810	+126,707	ADD
119	Palestra Capital Management LLC	$50.1M	125,779	0	NO CHANGE
120	NORTHWESTERN MUTUAL WEALTH MANAGEMENT CO	$47.3M	118,739	+92,562	ADD
121	CAPITOLIS LIQUID GLOBAL MARKETS LLC	$47.1M	118,273	+113,842	ADD
122	CANTOR FITZGERALD, L. P.	$46.3M	116,453	+116,453	NEW
123	Vident Advisory, LLC	$46.2M	116,145	+30,736	ADD
124	Vanguard Investments Australia, Ltd.	$46.0M	115,473	—	NO PRIOR
125	RBF Capital, LLC	$45.8M	114,955	−114,955	TRIM
126	AQR CAPITAL MANAGEMENT LLC	$43.8M	114,854	−28,500	TRIM
127	CI INVESTMENTS INC.	$43.2M	108,566	+18,377	ADD
128	Pictet Asset Management Holding SA	$41.9M	105,362	−3,122	TRIM
129	INFINITUM ASSET MANAGEMENT, LLC	$39.8M	100,000	+100,000	NEW
130	Asset Management One Co., Ltd.	$39.6M	99,485	+1,036	ADD
131	Smith Group Asset Management, LLC	$39.5M	99,195	+7,156	ADD
132	HEALTHCARE OF ONTARIO PENSION PLAN TRUST FUND	$38.8M	97,554	−7,345	TRIM
133	KLP KAPITALFORVALTNING AS	$38.4M	96,360	+4,800	ADD
134	3G Capital Partners LP	$37.8M	95,000	0	NO CHANGE
135	CREDIT AGRICOLE S A	$37.6M	94,477	+41,942	ADD
136	Rafferty Asset Management, LLC	$36.1M	90,632	−12,318	TRIM
137	Steadview Capital Management LLC	$35.6M	89,450	−57,415	TRIM
138	MACKENZIE FINANCIAL CORP	$35.6M	89,421	−30,174	TRIM
139	Gotham Asset Management, LLC	$35.1M	88,278	+9,254	ADD
140	STIFEL FINANCIAL CORP	$34.1M	85,567	−17,244	TRIM
141	WT Asset Management Ltd	$32.3M	81,200	+5,800	ADD
142	Zweig-DiMenna Associates LLC	$32.2M	80,950	−38,995	TRIM
143	Swiss Life Asset Management Ltd	$32.1M	80,709	+4,101	ADD
144	BANCO BILBAO VIZCAYA ARGENTARIA, S.A.	$32.0M	80,704	+1,299	ADD
145	State of New Jersey Common Pension Fund D	$31.4M	78,915	+15	ADD
146	Creative Planning	$31.3M	78,694	−13,507	TRIM
147	Candriam S.C.A.	$31.3M	78,559	+42,638	ADD
148	Daiwa Securities Group Inc.	$30.8M	77,499	−2,777	TRIM
149	PANAGORA ASSET MANAGEMENT INC	$30.8M	77,348	+1,418	ADD
150	NISSAY ASSET MANAGEMENT CORP /JAPAN	$30.2M	75,807	+1,700	ADD
151	Lansforsakringar Fondforvaltning AB (publ)	$29.9M	75,203	−14,803	TRIM
152	STATE OF MICHIGAN RETIREMENT SYSTEM	$29.9M	75,000	−100	TRIM
153	Dorsal Capital Management, LP	$29.9M	75,000	−25,000	TRIM
154	Empowered Funds, LLC	$29.7M	74,633	−2,457	TRIM
155	Czech National Bank	$29.4M	73,806	+2,431	ADD
156	Mariner, LLC	$29.1M	73,164	−27,996	TRIM
157	OSAIC HOLDINGS, INC.	$28.5M	71,584	−10,112	TRIM
158	ICONIQ Capital, LLC	$28.4M	71,370	0	NO CHANGE
159	GUGGENHEIM CAPITAL LLC	$28.3M	71,085	−9,616	TRIM
160	Qube Research & Technologies Ltd	$28.3M	71,082	+71,082	NEW
161	Resona Asset Management Co.,Ltd.	$28.0M	71,196	+1,694	ADD
162	Cetera Investment Advisers	$27.9M	70,193	−4,352	TRIM
163	XPONANCE LLC	$27.6M	69,449	+6,412	ADD
164	Tredje AP-fonden	$27.3M	68,568	+68,568	NEW
165	SEB Asset Management AB	$27.2M	68,377	—	NO PRIOR
166	COMMERCE BANK	$27.0M	67,946	+20,724	ADD
167	FLPUTNAM INVESTMENT MANAGEMENT CO	$26.9M	67,560	−14,503	TRIM
168	RENAISSANCE GROUP LLC	$26.8M	67,455	+67,455	NEW
169	O'SHAUGHNESSY ASSET MANAGEMENT, LLC	$26.5M	66,567	+1,908	ADD
170	CIBC WORLD MARKET INC.	$26.3M	66,010	−4,419	TRIM
171	Zurcher Kantonalbank (Zurich Cantonalbank)	$25.9M	65,038	+65,038	NEW
172	Aberdeen Group plc	$25.4M	63,697	−3,490	TRIM
173	Arizona State Retirement System	$25.2M	63,207	−1,897	TRIM
174	COMMONWEALTH OF PENNSYLVANIA PUBLIC SCHOOL EMPLS RETRMT SYS	$25.1M	63,128	+165	ADD
175	TFJ Management, LLC	$25.0M	62,872	+10,007	ADD
176	Metavasi Capital LP	$24.3M	61,167	+33,230	ADD
177	FJARDE AP-FONDEN /FOURTH SWEDISH NATIONAL PENSION FUND	$24.1M	60,580	+26,200	ADD
178	Illinois Municipal Retirement Fund	$23.6M	59,343	−3,123	TRIM
179	DZ BANK AG Deutsche Zentral Genossenschafts Bank, Frankfurt am Main	$23.4M	58,907	−3,298	TRIM
180	Sumitomo Mitsui DS Asset Management Company, Ltd	$23.0M	57,807	+6,170	ADD
181	Retirement Systems of Alabama	$22.9M	57,548	−37	TRIM
182	Silvant Capital Management LLC	$22.4M	56,354	+661	ADD
183	Kinetic Partners Management, LP	$22.2M	55,886	−33,320	TRIM
184	VOLORIDGE INVESTMENT MANAGEMENT, LLC	$21.9M	55,146	−123,937	TRIM
185	OSSIAM	$21.7M	54,499	+15,313	ADD
186	MML INVESTORS SERVICES, LLC	$21.5M	54,129	−10,202	TRIM
187	EULAV Asset Management	$21.5M	54,003	+1,500	ADD
188	TEACHER RETIREMENT SYSTEM OF TEXAS	$21.2M	53,295	+3,793	ADD
189	PUBLIC SECTOR PENSION INVESTMENT BOARD	$21.0M	52,728	+8,369	ADD
190	Rakuten Investment Management, Inc.	$21.0M	56,349	+5,830	ADD
191	OFI INVEST ASSET MANAGEMENT	$20.4M	59,124	+21,410	ADD
192	B. Metzler seel. Sohn & Co. AG	$20.3M	51,031	+34,781	ADD
193	DISCOVERY CAPITAL MANAGEMENT, LLC / CT	$20.2M	50,640	+13,400	ADD
194	Fund 1 Investments, LLC	$19.9M	49,966	+49,966	NEW
195	Calamos Advisors LLC	$19.7M	49,603	+866	ADD
196	Selkirk Management LLC	$19.4M	48,700	+13,000	ADD
197	PRUDENTIAL PLC	$19.1M	48,058	+1,419	ADD
198	IFM Investors Pty Ltd	$18.7M	46,919	+1,606	ADD
199	CIBC Bancorp USA Inc.	$18.6M	46,705	—	NO PRIOR
200	FIFTH THIRD BANCORP	$18.6M	46,665	+40,542	ADD
201	Focus Partners Wealth	$18.4M	46,048	−21,812	TRIM
202	INVESTMENT HOUSE LLC	$18.1M	45,497	−4,873	TRIM
203	Man Group plc	$18.1M	45,467	+22,975	ADD
204	LBP AM SA	$18.0M	45,256	−27,992	TRIM
205	UniSuper Management Pty Ltd	$18.0M	45,244	−2,266	TRIM
206	MILLENNIUM MANAGEMENT LLC	$17.7M	44,504	+18,119	ADD
207	AMF Tjanstepension AB	$17.4M	43,658	+4,535	ADD
208	Woodline Partners LP	$17.3M	43,524	+5,964	ADD
209	Y-Intercept (Hong Kong) Ltd	$17.3M	43,406	+41,077	ADD
210	Aware Super Pty Ltd as trustee of Aware Super	$16.3M	40,952	—	NO PRIOR
211	NEW YORK LIFE INVESTMENT MANAGEMENT LLC	$16.2M	40,825	+2,812	ADD
212	Hiddenite Capital Partners LP	$15.9M	40,000	+40,000	NEW
213	KCM Capital Inc	$15.9M	40,000	−10,000	TRIM
214	Zurich Insurance Group Ltd/FI	$15.7M	39,464	−17,996	TRIM
215	Wealthfront Advisers LLC	$15.5M	38,833	+1,317	ADD
216	Utah Retirement Systems	$15.4M	38,748	−643	TRIM
217	Proem Advisors LLC	$15.3M	38,500	+36,000	ADD
218	Vanguard Personalized Indexing Management, LLC	$14.9M	37,471	−1,769	TRIM
219	Marex Group Ltd	$14.9M	37,393	−58,160	TRIM
220	IMC-Chicago, LLC	$14.5M	36,392	−23,480	TRIM
221	Freestone Capital Holdings, LLC	$14.3M	36,027	−2,976	TRIM
222	General Equity Holdings LP	$14.2M	35,620	+29,420	ADD
223	Varma Mutual Pension Insurance Co	$14.2M	35,600	0	NO CHANGE
224	TRUIST FINANCIAL CORP	$14.1M	35,449	−2,220	TRIM
225	SHELTON CAPITAL MANAGEMENT	$14.1M	35,428	−1,107	TRIM
226	Tidal Investments LLC	$14.0M	35,198	−12,899	TRIM
227	TD Waterhouse Canada Inc.	$13.9M	35,817	+18,540	ADD
228	FERNBRIDGE CAPITAL MANAGEMENT LP	$13.8M	34,631	−7,598	TRIM
229	BANK OF NOVA SCOTIA	$13.6M	34,158	−4,587	TRIM
230	Aptus Capital Advisors, LLC	$13.4M	33,617	+146	ADD
231	Allianz Asset Management GmbH	$13.3M	33,519	−1,044	TRIM
232	Sanctuary Advisors, LLC	$13.3M	33,365	−2,665	TRIM
233	MACQUARIE GROUP LTD	$13.1M	32,890	−52,154	TRIM
234	Freshford Capital Management, LLC	$13.0M	32,723	−10,108	TRIM
235	UNICOM Systems, Inc.	$12.7M	31,900	0	NO CHANGE
236	BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp	$12.7M	31,794	−9,148	TRIM
237	Vontobel Holding Ltd.	$12.5M	31,366	+356	ADD
238	OREGON PUBLIC EMPLOYEES RETIREMENT FUND	$12.3M	31,024	+42	ADD
239	STEADFAST CAPITAL MANAGEMENT LP	$12.0M	30,236	−212,992	TRIM
240	Rockefeller Capital Management L.P.	$12.0M	30,137	+7,180	ADD
241	FEDERATED HERMES, INC.	$11.9M	30,004	−74,627	TRIM
242	KADENSA CAPITAL Ltd	$11.9M	29,805	+29,805	NEW
243	US BANCORP \DE\	$11.8M	29,564	−2,846	TRIM
244	SteelPeak Wealth, LLC	$11.6M	29,186	+2,449	ADD
245	Overbrook Management Corp	$11.6M	29,181	+14,074	ADD
246	MUTUAL OF AMERICA CAPITAL MANAGEMENT LLC	$11.5M	28,821	−241	TRIM
247	JACOBSON & SCHMITT ADVISORS, LLC	$11.4M	28,702	−651	TRIM
248	Eurizon Capital SGR S.p.A.	$11.2M	28,217	−1,755	TRIM
249	WCG Wealth Advisors LLC	$11.0M	27,549	+823	ADD
250	Crossmark Global Holdings, Inc.	$11.0M	27,547	—	NO PRIOR
251	Norinchukin Bank, The	$10.9M	27,490	+1,047	ADD
252	NewEdge Advisors, LLC	$10.8M	27,167	+27,167	NEW
253	M&T BANK CORP	$10.6M	26,608	−1,167	TRIM
254	Pathstone Holdings, LLC	$10.5M	26,470	−1,761	TRIM
255	SIERRA SUMMIT ADVISORS LLC	$10.4M	26,162	+7,676	ADD
256	MERCER GLOBAL ADVISORS INC /ADV	$10.3M	25,843	−20,625	TRIM
257	Federation des caisses Desjardins du Quebec	$10.1M	25,375	−1,230	TRIM
258	Ghisallo Capital Management LLC	$10.0M	25,000	+25,000	NEW
259	Vinva Investment Management Ltd	$9.8M	26,451	+316	ADD
260	GATEWAY INVESTMENT ADVISERS LLC	$9.8M	24,643	−6,851	TRIM
261	Venture Visionary Partners LLC	$9.8M	24,623	+244	ADD
262	Inspire Investing, LLC	$9.8M	24,520	+13,800	ADD
263	COMMONWEALTH EQUITY SERVICES, LLC	$9.8M	24,517	−3,370	TRIM
264	ARMISTICE CAPITAL, LLC	$9.7M	24,422	+2,160	ADD
265	Robeco Institutional Asset Management B.V.	$9.6M	24,182	−1,466	TRIM
266	OPPENHEIMER & CO INC	$9.6M	24,179	−1,851	TRIM
267	Cresset Asset Management, LLC	$9.6M	24,098	+836	ADD
268	OP Asset Management Ltd	$9.3M	23,471	—	NO PRIOR
269	CAISSE DE DEPOT ET PLACEMENT DU QUEBEC	$9.3M	23,324	−134,339	TRIM
270	MAI Capital Management	$9.3M	23,323	+4,420	ADD
271	PROFUND ADVISORS LLC	$9.2M	23,131	−5,511	TRIM
272	ASR Vermogensbeheer N.V.	$9.2M	23,091	+395	ADD
273	Tower Research Capital LLC (TRC)	$9.2M	23,007	+2,078	ADD
274	Stratos Wealth Partners, LTD.	$9.1M	22,818	−5,286	TRIM
275	QRG CAPITAL MANAGEMENT, INC.	$9.0M	22,723	−4,099	TRIM
276	Generali Asset Management SPA SGR	$9.0M	22,570	+155	ADD
277	HANCOCK WHITNEY CORP	$8.9M	20,010	−613	TRIM
278	HighTower Advisors, LLC	$8.8M	22,185	−3,110	TRIM
279	Caprock Group, LLC	$8.3M	20,969	+2,766	ADD
280	DONALDSON CAPITAL MANAGEMENT, LLC	$8.3M	20,895	+6,202	ADD
281	OAK RIDGE INVESTMENTS LLC	$8.0M	20,134	+1,087	ADD
282	Telemark Asset Management, LLC	$8.0M	20,000	0	NO CHANGE
283	FirstWave Capital Management LLC	$7.9M	19,873	+11,541	ADD
284	DIVERSIFY WEALTH MANAGEMENT, LLC	$7.6M	17,190	+11,224	ADD
285	Cornerstone Advisors, LLC	$7.4M	18,618	+6,924	ADD
286	Investment Management Corp of Ontario	$7.3M	18,226	−4,654	TRIM
287	Bank Julius Baer & Co. Ltd, Zurich	$7.2M	19,092	−9,995	TRIM
288	BROWN ADVISORY INC	$7.2M	18,042	+12,316	ADD
289	Cerity Partners LLC	$7.1M	17,874	−5,026	TRIM
290	Freestone Grove Partners LP	$7.1M	17,844	+17,844	NEW
291	EFG International AG	$7.0M	17,593	+3,997	ADD
292	E Fund Management Co., Ltd.	$7.0M	17,586	—	NO PRIOR
293	PREVAIL INNOVATIVE WEALTH ADVISORS, LLC	$7.0M	17,578	+17,578	NEW
294	Envestnet Portfolio Solutions, Inc.	$6.9M	17,312	+5,684	ADD
295	Callan Family Office, LLC	$6.8M	16,998	−2,972	TRIM
296	OPPENHEIMER ASSET MANAGEMENT INC.	$6.7M	16,754	−833	TRIM
297	LAZARD ASSET MANAGEMENT LLC	$6.6M	16,493	−6,181	TRIM
298	MIZUHO SECURITIES USA LLC	$6.5M	16,383	−3,327	TRIM
299	Empower Advisory Group, LLC	$6.5M	16,296	−696	TRIM
300	Bienville Capital Management, LLC	$6.4M	16,201	+16,201	NEW
301	Orion Porfolio Solutions, LLC	$6.4M	16,188	−8,158	TRIM
302	Capital International Sarl	$6.4M	16,008	+16,008	NEW
303	Elo Mutual Pension Insurance Co	$6.3M	15,865	+5,216	ADD
304	ASSETMARK, INC	$6.3M	15,792	−8,693	TRIM
305	NOMURA HOLDINGS INC	$6.3M	15,713	−7,705	TRIM
306	PATTON ALBERTSON MILLER GROUP, LLC	$6.2M	15,499	+662	ADD
307	WEALTH ENHANCEMENT ADVISORY SERVICES, LLC	$6.1M	15,821	−319,065	TRIM
308	Mitsubishi UFJ Trust & Banking Corp	$6.1M	15,283	+5,837	ADD
309	Brookstone Capital Management	$6.0M	15,177	+12,634	ADD
310	Benchmark Investment Advisors LLC	$6.0M	15,060	—	NO PRIOR
311	Perigon Wealth Management, LLC	$6.0M	15,002	−70	TRIM
312	Castle Hook Partners LP	$6.0M	15,000	−378,813	TRIM
313	Shannon River Fund Management LLC	$5.8M	14,480	+14,480	NEW
314	Horizon Investment Services, LLC	$5.7M	14,421	−1,759	TRIM
315	EDGEWOOD MANAGEMENT LLC	$5.7M	14,400	0	NO CHANGE
316	&PARTNERS	$5.7M	14,227	−1,354	TRIM
317	JANE STREET GROUP, LLC	$5.6M	14,061	−3,561	TRIM
318	OMERS ADMINISTRATION Corp	$5.5M	13,895	+1,816	ADD
319	Kultura Capital Management LP	$5.5M	13,860	−4,240	TRIM
320	ZACKS INVESTMENT MANAGEMENT	$5.5M	13,783	+544	ADD
321	Militia Capital Management LLC	$5.5M	13,720	—	NO PRIOR
322	BLI - Banque de Luxembourg Investments	$5.5M	8,000	+8,000	NEW
323	Balboa Wealth Partners	$5.4M	13,640	+2,490	ADD
324	Trexquant Investment LP	$5.4M	13,535	+13,535	NEW
325	Purpose Unlimited Inc.	$5.4M	13,500	0	NO CHANGE
326	Osmosis Investment Management UK Ltd	$5.4M	13,460	+2,534	ADD
327	Private Advisor Group, LLC	$5.3M	13,217	−393	TRIM
328	Danica Pension, Livsforsikringsaktieselskab	$5.1M	12,798	+12,798	NEW
329	PIAR LLC	$5.1M	12,785	−1,450	TRIM
330	ABN AMRO INVESTMENT SOLUTIONS	$5.1M	12,781	+1,563	ADD
331	Quartz Partners, LLC	$5.1M	12,758	+12,758	NEW
332	Leeward Financial Partners, LLC	$5.0M	12,627	+5,990	ADD
333	Clark Capital Management Group, Inc.	$5.0M	12,518	+11,923	ADD
334	FIRST CITIZENS BANK & TRUST CO	$5.0M	12,511	+12,511	NEW
335	Baird Financial Group, Inc.	$5.0M	12,486	+12,486	NEW
336	Pine Valley Investments Ltd Liability Co	$4.9M	12,388	+327	ADD
337	Beacon Harbor Wealth Advisors, Inc.	$4.9M	12,224	+207	ADD
338	SMITHBRIDGE ASSET MANAGEMENT INC/DE	$4.8M	12,113	−13,116	TRIM
339	ODDO BHF ASSET MANAGEMENT SAS	$4.8M	12,080	+3,999	ADD
340	Maryland State Retirement & Pension System	$4.7M	11,901	0	NO CHANGE
341	LGT Fund Management Co Ltd.	$4.7M	11,890	+11,890	NEW
342	Lombard Odier Asset Management (Switzerland) SA	$4.7M	11,850	+280	ADD
343	BAILARD, INC.	$4.7M	11,751	−1,525	TRIM
344	CWA Asset Management Group, LLC	$4.7M	11,724	+294	ADD
345	NOMURA ASSET MANAGEMENT INTERNATIONAL INC.	$4.6M	11,554	+11,554	NEW
346	LGT Group Foundation	$4.6M	11,438	−5,296	TRIM
347	Integrated Financial Solutions, Inc.	$4.5M	11,272	+3,694	ADD
348	Pallas Capital Advisors LLC	$4.5M	11,226	−20	TRIM
349	NewEdge Wealth, LLC	$4.5M	11,212	−2,352	TRIM
350	MUFG Securities EMEA plc	$4.4M	11,102	0	NO CHANGE
351	FOUNDATIONS INVESTMENT ADVISORS, LLC	$4.4M	10,997	+1,899	ADD
352	Voleon Capital Management LP	$4.4M	10,933	+8,923	ADD
353	DNCA FINANCE	$4.3M	10,900	−5,700	TRIM
354	FIRST FOUNDATION ADVISORS	$4.3M	10,884	−50	TRIM
355	ELEVATION POINT WEALTH PARTNERS, LLC	$4.3M	10,740	+8,235	ADD
356	AE Wealth Management LLC	$4.2M	10,622	−1,446	TRIM
357	Independent Solutions Wealth Management, LLC	$4.2M	10,590	−246	TRIM
358	PKO Investment Management Joint-Stock Co	$4.2M	10,500	+2,000	ADD
359	Phoenix Financial Ltd.	$4.2M	10,484	+4,484	ADD
360	GSG Advisors LLC	$4.1M	10,308	+12	ADD
361	Dai-ichi Life Insurance Company, Ltd	$4.1M	10,244	−683	TRIM
362	UNITED CAPITAL FINANCIAL ADVISORS, LLC	$4.1M	10,189	+10,189	NEW
363	Advisors Capital Management, LLC	$4.0M	10,070	−1,834	TRIM
364	Vise Technologies, Inc.	$4.0M	5,947	0	NO CHANGE
365	K2 PRINCIPAL FUND, L.P.	$4.0M	10,068	+5,836	ADD
366	DEEPWATER ASSET MANAGEMENT, LLC	$3.9M	9,783	−14,924	TRIM
367	Summit Trail Advisors, LLC	$3.9M	9,735	+4,466	ADD
368	Engineers Gate Manager LP	$3.8M	9,448	+8,939	ADD
369	Kestra Advisory Services, LLC	$3.8M	9,442	+923	ADD
370	HUB Investment Partners, LLC	$3.8M	9,433	+2,676	ADD
371	Sequoia Financial Advisors, LLC	$3.7M	9,329	−59	TRIM
372	Segment Wealth Management, LLC	$3.7M	9,327	−5,421	TRIM
373	RITHOLTZ WEALTH MANAGEMENT	$3.6M	9,019	−722	TRIM
374	INTECH INVESTMENT MANAGEMENT LLC	$3.6M	9,007	−29,959	TRIM
375	Merit Financial Group, LLC	$3.5M	8,879	−1,228	TRIM
376	TOKIO MARINE ASSET MANAGEMENT CO LTD	$3.5M	8,788	+495	ADD
377	NORTHWESTERN MUTUAL INVESTMENT MANAGEMENT COMPANY, LLC	$3.5M	8,671	+23	ADD
378	Lido Advisors, LLC	$3.4M	8,587	−6,752	TRIM
379	Metis Global Partners, LLC	$3.4M	8,556	−1,025	TRIM
380	Saudi Central Bank	$3.4M	8,515	+8,515	NEW
381	Owl Creek Asset Management, L.P.	$3.4M	8,511	−3,195	TRIM
382	Atria Investments, Inc	$3.4M	8,456	−2,196	TRIM
383	Equitable Holdings, Inc.	$3.4M	5,725	+3,443	ADD
384	CastleKnight Management LP	$3.3M	8,350	+6,500	ADD
385	Westerkirk Capital Inc.	$3.3M	8,339	−413	TRIM
386	Dakota Wealth Management	$3.3M	8,311	−2,348	TRIM
387	FULTON BANK, N.A.	$3.3M	8,303	−414	TRIM
388	Thrive Capital Management, LLC	$3.3M	8,281	+2,654	ADD
389	Calamos Wealth Management LLC	$3.3M	8,205	−392	TRIM
390	Yarbrough Capital, LLC	$3.3M	8,198	0	NO CHANGE
391	DeDora Capital, Inc.	$3.2M	8,067	0	NO CHANGE
392	Laird Norton Wetherby Trust Company, LLC	$3.2M	7,919	−654	TRIM
393	Legal Advantage Investments, Inc.	$3.1M	7,885	+2,510	ADD
394	ALPS ADVISORS INC	$3.1M	7,758	+2,336	ADD
395	Royal Fund Management, LLC	$3.1M	7,673	+7,673	NEW
396	Summit Financial, LLC	$3.0M	7,636	+5,538	ADD
397	STEPHENS INC /AR/	$3.0M	7,554	−2,550	TRIM
398	Vestmark Advisory Solutions, Inc.	$3.0M	7,534	+161	ADD
399	KESTRA PRIVATE WEALTH SERVICES, LLC	$3.0M	7,511	−1,513	TRIM
400	Linden Thomas Advisory Services, LLC	$3.0M	7,456	−14,204	TRIM
401	Wedmont Private Capital	$3.0M	7,570	+79	ADD
402	Strategic Global Advisors, LLC	$2.9M	7,401	−100	TRIM
403	SECURIAN ASSET MANAGEMENT, INC	$2.9M	7,361	0	NO CHANGE
404	Ballentine Partners, LLC	$2.9M	7,355	−729	TRIM
405	INDEPENDENT FINANCIAL GROUP, LLC	$2.9M	7,291	—	NO PRIOR
406	TOWNSQUARE CAPITAL LLC	$2.9M	7,248	+90	ADD
407	CAPSTONE INVESTMENT ADVISORS, LLC	$2.9M	7,206	+7,206	NEW
408	HB Wealth Management, LLC	$2.9M	7,205	+562	ADD
409	Squarepoint Ops LLC	$2.9M	7,204	−21,656	TRIM
410	Barrier Capital Management, LLC	$2.9M	7,203	+7,203	NEW
411	PRINCIPAL SECURITIES, INC.	$2.9M	7,165	+751	ADD
412	LMG Wealth Partners, LLC	$2.8M	7,155	+193	ADD
413	Trilogy Capital Inc.	$2.8M	7,154	+1,122	ADD
414	World Investment Advisors	$2.8M	7,095	+1,468	ADD
415	Siemens Fonds Invest GmbH	$2.8M	7,027	−25	TRIM
416	Beacon Pointe Advisors, LLC	$2.8M	6,998	+1,525	ADD
417	Concurrent Investment Advisors, LLC	$2.8M	6,996	−3,156	TRIM
418	SIGNET FINANCIAL MANAGEMENT, LLC	$2.8M	6,976	+16	ADD
419	North Dakota State Investment Board	$2.7M	6,907	−1,240	TRIM
420	SCOTIA CAPITAL INC.	$2.7M	6,798	−6,602	TRIM
421	Financial Advisors Network, Inc.	$2.7M	6,787	—	NO PRIOR
422	Paragon Advisors, LLC	$2.7M	6,669	+1,849	ADD
423	RWA WEALTH PARTNERS, LLC	$2.6M	6,623	−400	TRIM
424	Sovereign Financial Group, Inc.	$2.6M	6,587	+6,290	ADD
425	Apollon Wealth Management, LLC	$2.6M	6,542	−827	TRIM
426	Range Financial Group LLC	$2.6M	6,527	+457	ADD
427	Brooklyn Investment Group	$2.6M	6,461	+2,680	ADD
428	Colonial River Investments, LLC	$2.6M	6,432	+1,350	ADD
429	EVERGREEN CAPITAL MANAGEMENT LLC	$2.5M	6,329	−2,261	TRIM
430	Assenagon Asset Management S.A.	$2.5M	6,251	−474	TRIM
431	Meiji Yasuda Asset Management Co Ltd.	$2.4M	6,154	+235	ADD
432	CWM, LLC	$2.4M	6,150	−837	TRIM
433	CFO4Life Group, LLC	$2.4M	6,029	−285	TRIM
434	Capital International, Inc./CA/	$2.4M	6,014	+6,014	NEW
435	Allworth Financial LP	$2.4M	5,949	−211	TRIM
436	WINTON GROUP Ltd	$2.3M	5,886	−11,434	TRIM
437	PRELUDE CAPITAL MANAGEMENT, LLC	$2.3M	5,845	+103	ADD
438	CAPITAL INTERNATIONAL LTD /CA/	$2.3M	5,810	+5,810	NEW
439	SHELTON WEALTH MANAGEMENT, LLC	$2.3M	5,730	−273	TRIM
440	Reliant Investment Partners, LLC	$2.2M	5,618	−343	TRIM
441	E. Ohman J:or Asset Management AB	$2.2M	5,591	−180	TRIM
442	GROUP ONE TRADING LLC	$2.2M	5,573	−4,979	TRIM
443	Illumine Investment Management, LLC	$2.2M	5,539	−29	TRIM
444	BALYASNY ASSET MANAGEMENT L.P.	$2.2M	5,504	+1,394	ADD
445	Cumberland Partners Ltd	$2.2M	5,500	−500	TRIM
446	Accuvest Global Advisors	$2.2M	5,448	+4,212	ADD
447	Eddie Patel Inc	$2.2M	5,434	+312	ADD
448	CHOREO, LLC	$2.1M	5,381	+769	ADD
449	MONETA GROUP INVESTMENT ADVISORS LLC	$2.1M	5,340	+239	ADD
450	MATHER GROUP, LLC.	$2.1M	5,328	+4,719	ADD
451	OpenArc Corporate Advisory, LLC	$2.1M	5,311	+1,126	ADD
452	MARIETTA INVESTMENT PARTNERS LLC	$2.1M	5,310	−2,332	TRIM
453	Spire Wealth Management	$2.1M	5,270	−3,217	TRIM
454	EXCHANGE TRADED CONCEPTS, LLC	$2.1M	5,171	+3,369	ADD
455	Lifestyle Asset Management, Inc.	$2.0M	5,136	+903	ADD
456	Blue Trust, Inc.	$2.0M	5,106	−483	TRIM
457	ICICI Prudential Asset Management Co Ltd	$2.0M	5,088	+152	ADD
458	GLENMEDE TRUST CO NA	$2.0M	5,075	+550	ADD
459	Steward Partners Investment Advisory, LLC	$2.0M	5,037	+3,176	ADD
460	Banque Cantonale Vaudoise	$2.0M	4,987	−442	TRIM
461	Berbice Capital Management LLC	$2.0M	4,915	+845	ADD
462	INTERNATIONAL ASSETS INVESTMENT MANAGEMENT, LLC	$1.9M	5,027	+3,544	ADD
463	TEMA ETFS LLC	$1.9M	4,753	+156	ADD
464	HBW ADVISORY SERVICES LLC	$1.9M	4,710	−405	TRIM
465	BENJAMIN EDWARDS INC	$1.9M	4,654	−210	TRIM
466	COLDSTREAM CAPITAL MANAGEMENT INC	$1.8M	4,602	−905	TRIM
467	CLOVERFIELDS CAPITAL GROUP, LP	$1.8M	4,594	−3,299	TRIM
468	Truvestments Capital LLC	$1.8M	4,574	+39	ADD
469	MASTERINVEST Kapitalanlage GmbH	$1.8M	4,570	+1,829	ADD
470	Rakuten Securities, Inc.	$1.8M	4,557	−1,919	TRIM
471	Anderson Financial Strategies, LLC	$1.8M	3,783	+1,044	ADD
472	GTS SECURITIES LLC	$1.8M	4,531	+1,286	ADD
473	BRIDGEWAY CAPITAL MANAGEMENT, LLC	$1.8M	4,480	0	NO CHANGE
474	Hedeker Wealth, LLC	$1.8M	4,463	+4,463	NEW
475	Meeder Advisory Services, Inc.	$1.8M	4,450	+244	ADD
476	Mizuho Markets Cayman LP	$1.8M	4,435	−2,042	TRIM
477	Darden Wealth Group Inc	$1.8M	4,413	+694	ADD
478	SIGNATUREFD, LLC	$1.7M	4,394	−107	TRIM
479	Castle Rock Wealth Management, LLC	$1.7M	4,450	+15	ADD
480	Skandinaviska Enskilda Banken AB (publ)	$1.7M	4,274	−55,488	TRIM
481	Emerald Investment Advisers, LLC	$1.7M	4,236	—	NO PRIOR
482	VestGen Advisors, LLC	$1.7M	3,423	+388	ADD
483	Pinnacle Wealth Management, LLC	$1.7M	4,190	−1,900	TRIM
484	GREAT VALLEY ADVISOR GROUP, INC.	$1.7M	4,167	+309	ADD
485	J. Safra Sarasin Holding AG	$1.6M	4,113	+1,293	ADD
486	WESTPAC BANKING CORP	$1.6M	4,035	−5,318	TRIM
487	PVG ASSET MANAGEMENT CORP	$1.6M	3,036	—	NO PRIOR
488	Alta Wealth Advisors LLC	$1.6M	3,962	+37	ADD
489	INTACT INVESTMENT MANAGEMENT INC.	$1.5M	3,870	+1,370	ADD
490	Convergence Investment Partners, LLC	$1.5M	3,862	−1,354	TRIM
491	Cannon Advisors, Inc.	$1.5M	3,821	−38	TRIM
492	Advisors Asset Management, Inc.	$1.5M	3,817	+988	ADD
493	NORDEN GROUP LLC	$1.5M	3,816	+437	ADD
494	Westover Capital Advisors, LLC	$1.5M	3,689	+1,524	ADD
495	Independent Advisor Alliance	$1.5M	3,645	−488	TRIM
496	PFG Advisors	$1.4M	3,638	+229	ADD
497	Compound Planning, Inc.	$1.4M	3,609	+412	ADD
498	Storgate, LLC	$1.4M	3,552	+44	ADD
499	Virtus Investment Advisers, LLC	$1.4M	3,491	+447	ADD
500	SIG BROKERAGE, LP	$1.4M	3,489	−7,054	TRIM

Newest filing in this build: 2026-07-31. Per-row filing dates are on each receipt.

Congress ↔ notable managers · APP

who in Congress disclosed purchases or sales beside which notable managers added or trimmed

Congress · last 90 days

Buyers: 2 Alan Armstrong R–OK, Gilbert Ray Cisneros, Jr. D–CA-31 $2K–$30K
Sellers: 1 Gilbert Ray Cisneros, Jr. D–CA-31 $1K–$15K

filed 2026-07-03 → 2026-10-01 · totals are statutory ranges

Notable managers · quarter ended 2026-03-31

Adding: 2 Lone Pine Capital, Gotham Asset Management $618M held
Trimming: 5 Coatue Management, Tiger Global Management, Moore Capital Management, Bridgewater Associates, Caxton Associates $912M held

NEW + ADD vs TRIM + EXIT, by shares · $ = reported value now, not the change · APPLOVIN CORP

Merged timeline of congressional filings and notable-manager moves on APP
Date	Who	Change	Size
2026-09-10	Gilbert Ray Cisneros, Jr. Congress	SELL	$1K–$15K
2026-09-04	Gilbert Ray Cisneros, Jr. Congress	BUY	$1K–$15K
2026-07-21	Alan Armstrong Congress	BUY	$1K–$15K
2026-05-15	Lone Pine Capital 13F	ADD	+684,393 sh
2026-05-15	Gotham Asset Management 13F	ADD	+9,254 sh
2026-05-15	Coatue Management 13F	TRIM	−895,739 sh
2026-05-15	Tiger Global Management 13F	TRIM	−292,984 sh
2026-05-15	Moore Capital Management 13F	TRIM	−21,678 sh
2026-05-15	Bridgewater Associates 13F	EXIT	−9,867 sh
2026-05-14	Caxton Associates 13F	EXIT	−5,482 sh

10 newest rows · every row dates by its filing date: a disclosure's, or the 13F's for the quarter · a 13F row is a quarter-end snapshot, not a trade

6 members of Congress disclosed APP — the congressional view ↗

A 13F is a quarterly, long-only snapshot filed up to 45 days late — not current holdings. what a 13F covers ↗

13F reports cover LONG positions in Section 13(f) securities (US exchange-traded equities plus reportable options, warrants, certain convertibles) held by managers with at least $100M in such securities — so managers below that threshold are absent entirely. No short positions, no cash, no non-13(f) assets — not a full portfolio, and not a census of institutional ownership.

Positions are quarter-end snapshots filed up to 45 days late — not current holdings. A position may have been changed or closed before you ever see it, and is older still by however long ago that quarter ended.

Values are the manager's stated market value at quarter-end in era-dependent units (whole dollars for form versions effective 2023-01-03 onward, thousands before), normalized here to whole dollars with unit_basis carried on every record.

Affiliated managers may report the same position (otherManager), so one position can appear under more than one filer.

Positions under confidential treatment may be omitted until a later amendment discloses them.

These are disclosures, not investment advice (ARCHITECTURE.md §5.2 / M2-CONTRACT §5).