Delos Wealth Advisors

DALLAS, TXfiles as Delos Wealth Advisors, LLC

$195m in 295 US stocks at the end of 30 June 2026. The top 10 are 38.7% of the money. It changed about 8.1% of the portfolio this quarter.

Value

$195m

Stocks

295

Top 10 share

38.7%

Turnover

8.1%

What changed this quarter

New

Bought for the first time this quarter.

Eli LillyLLY
<0.1% of the fund
Seagate Technology HoldingsSTX
<0.1% of the fund
CorningGLW
<0.1% of the fund
Principal Financial GroupPFG
<0.1% of the fund
Williams CompaniesWMB
<0.1% of the fund
ProgressivePGR
<0.1% of the fund
Costco WholesaleCOST
<0.1% of the fund
VisaV
<0.1% of the fund
EntergyETR
<0.1% of the fund
MerckMRK
<0.1% of the fund
Franklin Templeton ETF TRINCM
<0.1% of the fund
Palo Alto NetworksPANW
<0.1% of the fund
Hewlett Packard EnterpriseHPE
<0.1% of the fund
Dell TechnologiesDELL
<0.1% of the fund
Kinder MorganKMI
<0.1% of the fund
Putnam ETF TrustPVAL
<0.1% of the fund
Ishares TRIYF
<0.1% of the fund
American ExpressAXP
<0.1% of the fund
Fifth Third BancorpFITB
<0.1% of the fund
Ishares TRIEFA
<0.1% of the fund
Western DigitalWDC
<0.1% of the fund
BlackRockBLK
<0.1% of the fund
StarbucksSBUX
<0.1% of the fund
TJX CompaniesTJX
<0.1% of the fund
Ishares TRSHYG
<0.1% of the fund

Added

Bought more of a stock they already held.

AppleAAPL
4.4% of the fund
+5%
First TR Exchange-Traded FDFXU
4.3% of the fund
+4%
Bondbloxx ETF TrustTAXX
4.1% of the fund
+19%
Spdr Gold TRGLD
3.7% of the fund
+3%
WalmartWMT
3.3% of the fund
+3%
Select Sector Spdr TRXLV
3.2% of the fund
+6%
Ishares TRQUAL
3.0% of the fund
+3%
J P Morgan Exchange Traded FJQUA
3.0% of the fund
+4%
Flexshares TRTDTT
3.0% of the fund
+23%
Alliant EnergyLNT
3.0% of the fund
+5%
MicrosoftMSFT
2.9% of the fund
+5%
Invesco Exch Traded FD TR IISPHD
2.2% of the fund
+5%
AlphabetGOOGL
2.0% of the fund
+3%
Select Sector Spdr TRXLP
2.0% of the fund
+5%
Invesco Exch TRD SLF IDX FDPOWA
2.0% of the fund
+4%
Ishares TRUSMV
2.0% of the fund
+6%
Invesco Exch Traded FD TR IIKBWB
2.0% of the fund
+5%
First TR Exchange-Traded FDFTCS
2.0% of the fund
+5%
Ishares TRAGG
1.9% of the fund
+21%
Ishares TRIWM
1.8% of the fund
+4%
Invesco Exchange Traded FD TRSP
1.7% of the fund
+3%
Spend Life Wisely Funds InvtSLWS
1.6% of the fund
+665%
Ishares TRINDA
1.5% of the fund
+8%
Amazon.comAMZN
1.5% of the fund
+4%
J P Morgan Exchange Traded FJPST
1.3% of the fund
+2%

Cut

Sold some of their stake.

Ishares TRMUB
0.3% of the fund
-33%
Ishares TRSUB
0.2% of the fund
-44%
Marathon PetroleumMPC
0.1% of the fund
-12%
Vanguard Wellington FDVTES
0.1% of the fund
-68%
ChevronCVX
0.1% of the fund
-8%
Vanguard MUN BD FDSVTEB
0.1% of the fund
-42%
Steel DynamicsSTLD
0.1% of the fund
-3%
Motorola SolutionsMSI
<0.1% of the fund
-58%
Ishares TRIQLT
<0.1% of the fund
-11%
Cisco SystemsCSCO
<0.1% of the fund
-87%
HCA HealthcareHCA
<0.1% of the fund
-35%
MckessonMCK
<0.1% of the fund
-25%
Air Products & ChemicalsAPD
<0.1% of the fund
-84%
Meta PlatformsMETA
<0.1% of the fund
-30%
Nu HoldingsNU
<0.1% of the fund
-60%
Union PacificUNP
<0.1% of the fund
-94%
MastercardMA
<0.1% of the fund
-59%
Intercontinental ExchangeICE
<0.1% of the fund
-47%
J P Morgan Exchange Traded FBBEU
<0.1% of the fund
-86%
Applied DigitalAPLD
<0.1% of the fund
-28%
Energy Transfer L PET
<0.1% of the fund
-99%
StrykerSYK
<0.1% of the fund
-73%

Sold out

Sold their entire stake.

First TR Exchange-Traded FDFTSM
-100%
Pimco ETF TRMINT
-100%
ChubbCB
-100%
CME GroupCME
-100%
Darden RestaurantsDRI
-100%
Intuitive SurgicalISRG
-100%
NXP SemiconductorsNXPI
-100%
Annaly Capital ManagementNLY
-100%
Advanced Micro DevicesAMD
-100%
Century AluminumCENX
-100%
Honeywell InternationalHON
-100%
AccentureACN
-100%
MoonLake ImmunotherapeuticsMLTX
-100%
Taiwan Semiconductor ManufacturingTSM
-100%
Graniteshares ETF TRAMDL
-100%
Spyre TherapeuticsSYRE
-100%
Aurora InnovationAUR
-100%
RokuROKU
-100%
Firefly AerospaceFLY
-100%
J P Morgan Exchange Traded FBBAX
-100%
ARM HoldingsARM
-100%
Tortoise Capital Series TrusTPYP
-100%
VinFast AutoVFS
-100%
GE VernovaGEV
-100%
AXTAXTI
-100%

Holdings

Spdr Series TrustBILS
Share
6.5%
Value
$13m
Shares
127,056
Held
AppleAAPL
Share
4.4%
Value
$9m
Shares
29,466
+5%
First TR Exchange-Traded FDFXU
Share
4.3%
Value
$8m
Shares
169,859
+4%
Bondbloxx ETF TrustTAXX
Share
4.1%
Value
$8m
Shares
158,765
+19%
Spdr Gold TRGLD
Share
3.7%
Value
$7m
Shares
19,728
+3%
WalmartWMT
Share
3.3%
Value
$6m
Shares
56,329
+3%
Agnico Eagle MinesAEM
Share
3.2%
Value
$6m
Shares
40,088
Held
Select Sector Spdr TRXLV
Share
3.2%
Value
$6m
Shares
38,756
+6%
Ishares TRQUAL
Share
3.0%
Value
$6m
Shares
26,878
+3%
J P Morgan Exchange Traded FJQUA
Share
3.0%
Value
$6m
Shares
81,484
+4%
Flexshares TRTDTT
Share
3.0%
Value
$6m
Shares
245,969
+23%
Alliant EnergyLNT
Share
3.0%
Value
$6m
Shares
75,924
+5%
MicrosoftMSFT
Share
2.9%
Value
$6m
Shares
15,337
+5%
Vaneck ETF TrustSMH
Share
2.5%
Value
$5m
Shares
7,477
Held
Invesco Exch Traded FD TR IISPHD
Share
2.2%
Value
$4m
Shares
86,027
+5%
First TR Exchange-Traded FDQTEC
Share
2.2%
Value
$4m
Shares
12,757
Held
J P Morgan Exchange Traded FJMOM
Share
2.2%
Value
$4m
Shares
49,831
Held
AlphabetGOOGL
Share
2.0%
Value
$4m
Shares
11,144
+3%
Select Sector Spdr TRXLP
Share
2.0%
Value
$4m
Shares
47,814
+5%
Invesco Exch TRD SLF IDX FDPOWA
Share
2.0%
Value
$4m
Shares
44,252
+4%
Ishares TRUSMV
Share
2.0%
Value
$4m
Shares
40,661
+6%
Invesco Exch Traded FD TR IIKBWB
Share
2.0%
Value
$4m
Shares
41,242
+5%
First TR Exchange-Traded FDFTCS
Share
2.0%
Value
$4m
Shares
40,812
+5%
Ishares TRAGG
Share
1.9%
Value
$4m
Shares
37,233
+21%
Invesco Exchange Traded FD TRPG
Share
1.8%
Value
$4m
Shares
56,176
Held
Ishares TRIWM
Share
1.8%
Value
$3m
Shares
11,620
+4%
Invesco Exchange Traded FD TRSP
Share
1.7%
Value
$3m
Shares
15,824
+3%
Spend Life Wisely Funds InvtSLWS
Share
1.6%
Value
$3m
Shares
30,535
+665%
Ishares TRINDA
Share
1.5%
Value
$3m
Shares
60,169
+8%
Amazon.comAMZN
Share
1.5%
Value
$3m
Shares
12,374
+4%
J P Morgan Exchange Traded FJPST
Share
1.3%
Value
$2m
Shares
49,203
+2%
Vaneck ETF TrustEMLC
Share
1.1%
Value
$2m
Shares
85,162
+4%
Ishares TRTLT
Share
1.0%
Value
$2m
Shares
21,468
+16%
Pimco ETF TRZROZ
Share
0.9%
Value
$2m
Shares
28,140
+16%
Ishares TRIAK
Share
0.8%
Value
$2m
Shares
11,471
+6%
IntelINTC
Share
0.6%
Value
$1m
Shares
9,035
Held
International Business MachinesIBM
Share
0.6%
Value
$1m
Shares
4,193
Held
BroadcomAVGO
Share
0.6%
Value
$1m
Shares
3,059
+35%
Ishares TRDGRO
Share
0.5%
Value
$1m
Shares
13,473
Held
ExxonMobil HoldingsXOM
Share
0.4%
Value
$849,404
Shares
6,213
+10%
Ishares TRMTUM
Share
0.4%
Value
$708,973
Shares
2,068
Held
Vanguard Index FDSVOO
Share
0.4%
Value
$696,426
Shares
1,014
Held
Ishares TRMUB
Share
0.3%
Value
$678,222
Shares
6,302
-33%
First TR Exch Traded FD IIIFMB
Share
0.3%
Value
$669,315
Shares
13,030
Held
AlphabetGOOG
Share
0.3%
Value
$610,908
Shares
1,729
Held
Johnson & JohnsonJNJ
Share
0.3%
Value
$605,211
Shares
2,383
+3%
Ishares TRIVV
Share
0.3%
Value
$569,906
Shares
761
+5%
Dimensional ETF TrustDFAC
Share
0.3%
Value
$567,498
Shares
12,793
Held
Dimensional ETF TrustDFUV
Share
0.2%
Value
$468,136
Shares
8,510
Held
EatonETN
Share
0.2%
Value
$460,636
Shares
1,081
+9%
Ishares TRSUB
Share
0.2%
Value
$451,007
Shares
4,236
-44%
JPMorgan ChaseJPM
Share
0.2%
Value
$442,551
Shares
1,352
+40%
Dimensional ETF TrustDUHP
Share
0.2%
Value
$418,052
Shares
10,018
Held
Kraneshares Bosera MsciKBA
Share
0.2%
Value
$413,540
Shares
12,018
Held
PepsiCoPEP
Share
0.2%
Value
$401,597
Shares
2,966
Held
Schwab Strategic TRSCHX
Share
0.2%
Value
$395,010
Shares
13,422
Held
OracleORCL
Share
0.2%
Value
$376,634
Shares
2,570
Held
Coca-ColaKO
Share
0.2%
Value
$365,715
Shares
4,500
Held
Vanguard Tax-Managed FDSVEA
Share
0.2%
Value
$327,893
Shares
4,602
Held
Dimensional ETF TrustDFIC
Share
0.2%
Value
$311,457
Shares
8,359
Held
Berkshire HathawayBRK-B
Share
0.2%
Value
$310,743
Shares
621
Held
Marathon PetroleumMPC
Share
0.1%
Value
$288,908
Shares
1,130
-12%
Ishares TRIMTM
Share
0.1%
Value
$284,409
Shares
5,333
Held
CaterpillarCAT
Share
0.1%
Value
$275,810
Shares
259
Held
Ishares TRIVW
Share
0.1%
Value
$273,960
Shares
1,992
Held
First TR Exchange-Traded FDFXL
Share
0.1%
Value
$272,394
Shares
1,254
Held
Valero EnergyVLO
Share
0.1%
Value
$260,440
Shares
1,000
Held
Vanguard Wellington FDVTES
Share
0.1%
Value
$256,619
Shares
2,533
-68%
Ishares TREFA
Share
0.1%
Value
$244,638
Shares
2,355
Held
NvidiaNVDA
Share
0.1%
Value
$244,110
Shares
1,220
+69%
Dimensional ETF TrustDFIV
Share
0.1%
Value
$242,064
Shares
4,481
Held
McDonald'sMCD
Share
0.1%
Value
$241,928
Shares
895
Held
Schwab Strategic TRSCHF
Share
0.1%
Value
$240,741
Shares
8,691
Held
ChevronCVX
Share
0.1%
Value
$237,817
Shares
1,435
-8%
Invesco Exchange Traded FD TRPV
Share
0.1%
Value
$236,405
Shares
2,077
Held
Vanguard MUN BD FDSVTEB
Share
0.1%
Value
$227,712
Shares
4,502
-42%
Dimensional ETF TrustDIHP
Share
0.1%
Value
$225,260
Shares
6,601
Held
Vaneck ETF TrustGDX
Share
0.1%
Value
$224,841
Shares
2,980
Held
American Centy ETF TRAVEM
Share
0.1%
Value
$222,217
Shares
2,303
Held
Steel DynamicsSTLD
Share
0.1%
Value
$217,758
Shares
949
-3%
Ishares TRIGRO
Share
0.1%
Value
$208,746
Shares
2,374
Held
First TR Exchange-Traded FDFXH
Share
0.1%
Value
$201,716
Shares
1,648
Held
Ishares TRVLUE
Share
<0.1%
Value
$188,222
Shares
942
Held
Ishares TRIXUS
Share
<0.1%
Value
$186,872
Shares
1,958
+6%
Select Sector Spdr TRXLI
Share
<0.1%
Value
$183,749
Shares
992
Held
Vanguard Intl Equity Index FVWO
Share
<0.1%
Value
$180,264
Shares
3,020
Held
Procter & GamblePG
Share
<0.1%
Value
$174,062
Shares
1,187
Held
Vanguard Index FDSVB
Share
<0.1%
Value
$166,413
Shares
549
Held
Eli LillyLLY
Share
<0.1%
Value
$163,123
Shares
136
New
Ishares TRIJH
Share
<0.1%
Value
$154,220
Shares
2,000
Held
American Centy ETF TRAVSC
Share
<0.1%
Value
$148,807
Shares
2,029
Held
Select Sector Spdr TRXLK
Share
<0.1%
Value
$147,463
Shares
774
+416%
Texas InstrumentsTXN
Share
<0.1%
Value
$138,901
Shares
466
+137%
VistraVST
Share
<0.1%
Value
$135,471
Shares
854
Held
Dimensional ETF TrustDFUS
Share
<0.1%
Value
$134,054
Shares
1,636
Held
Lam ResearchLRCX
Share
<0.1%
Value
$132,166
Shares
305
Held
ConocoPhillipsCOP
Share
<0.1%
Value
$129,930
Shares
1,250
Held
Walt DisneyDIS
Share
<0.1%
Value
$124,644
Shares
1,295
Held
Seagate Technology HoldingsSTX
Share
<0.1%
Value
$115,800
Shares
120
New
Waste ManagementWM
Share
<0.1%
Value
$114,784
Shares
515
Held

Company	Share of fund	Value	Shares	Change
Spdr Series TrustBILS	6.5%	$13m	127,056	Held
AppleAAPL	4.4%	$9m	29,466	+5%
First TR Exchange-Traded FDFXU	4.3%	$8m	169,859	+4%
Bondbloxx ETF TrustTAXX	4.1%	$8m	158,765	+19%
Spdr Gold TRGLD	3.7%	$7m	19,728	+3%
WalmartWMT	3.3%	$6m	56,329	+3%
Agnico Eagle MinesAEM	3.2%	$6m	40,088	Held
Select Sector Spdr TRXLV	3.2%	$6m	38,756	+6%
Ishares TRQUAL	3.0%	$6m	26,878	+3%
J P Morgan Exchange Traded FJQUA	3.0%	$6m	81,484	+4%
Flexshares TRTDTT	3.0%	$6m	245,969	+23%
Alliant EnergyLNT	3.0%	$6m	75,924	+5%
MicrosoftMSFT	2.9%	$6m	15,337	+5%
Vaneck ETF TrustSMH	2.5%	$5m	7,477	Held
Invesco Exch Traded FD TR IISPHD	2.2%	$4m	86,027	+5%
First TR Exchange-Traded FDQTEC	2.2%	$4m	12,757	Held
J P Morgan Exchange Traded FJMOM	2.2%	$4m	49,831	Held
AlphabetGOOGL	2.0%	$4m	11,144	+3%
Select Sector Spdr TRXLP	2.0%	$4m	47,814	+5%
Invesco Exch TRD SLF IDX FDPOWA	2.0%	$4m	44,252	+4%
Ishares TRUSMV	2.0%	$4m	40,661	+6%
Invesco Exch Traded FD TR IIKBWB	2.0%	$4m	41,242	+5%
First TR Exchange-Traded FDFTCS	2.0%	$4m	40,812	+5%
Ishares TRAGG	1.9%	$4m	37,233	+21%
Invesco Exchange Traded FD TRPG	1.8%	$4m	56,176	Held
Ishares TRIWM	1.8%	$3m	11,620	+4%
Invesco Exchange Traded FD TRSP	1.7%	$3m	15,824	+3%
Spend Life Wisely Funds InvtSLWS	1.6%	$3m	30,535	+665%
Ishares TRINDA	1.5%	$3m	60,169	+8%
Amazon.comAMZN	1.5%	$3m	12,374	+4%
J P Morgan Exchange Traded FJPST	1.3%	$2m	49,203	+2%
Vaneck ETF TrustEMLC	1.1%	$2m	85,162	+4%
Ishares TRTLT	1.0%	$2m	21,468	+16%
Pimco ETF TRZROZ	0.9%	$2m	28,140	+16%
Ishares TRIAK	0.8%	$2m	11,471	+6%
IntelINTC	0.6%	$1m	9,035	Held
International Business MachinesIBM	0.6%	$1m	4,193	Held
BroadcomAVGO	0.6%	$1m	3,059	+35%
Ishares TRDGRO	0.5%	$1m	13,473	Held
ExxonMobil HoldingsXOM	0.4%	$849,404	6,213	+10%
Ishares TRMTUM	0.4%	$708,973	2,068	Held
Vanguard Index FDSVOO	0.4%	$696,426	1,014	Held
Ishares TRMUB	0.3%	$678,222	6,302	-33%
First TR Exch Traded FD IIIFMB	0.3%	$669,315	13,030	Held
AlphabetGOOG	0.3%	$610,908	1,729	Held
Johnson & JohnsonJNJ	0.3%	$605,211	2,383	+3%
Ishares TRIVV	0.3%	$569,906	761	+5%
Dimensional ETF TrustDFAC	0.3%	$567,498	12,793	Held
Dimensional ETF TrustDFUV	0.2%	$468,136	8,510	Held
EatonETN	0.2%	$460,636	1,081	+9%
Ishares TRSUB	0.2%	$451,007	4,236	-44%
JPMorgan ChaseJPM	0.2%	$442,551	1,352	+40%
Dimensional ETF TrustDUHP	0.2%	$418,052	10,018	Held
Kraneshares Bosera MsciKBA	0.2%	$413,540	12,018	Held
PepsiCoPEP	0.2%	$401,597	2,966	Held
Schwab Strategic TRSCHX	0.2%	$395,010	13,422	Held
OracleORCL	0.2%	$376,634	2,570	Held
Coca-ColaKO	0.2%	$365,715	4,500	Held
Vanguard Tax-Managed FDSVEA	0.2%	$327,893	4,602	Held
Dimensional ETF TrustDFIC	0.2%	$311,457	8,359	Held
Berkshire HathawayBRK-B	0.2%	$310,743	621	Held
Marathon PetroleumMPC	0.1%	$288,908	1,130	-12%
Ishares TRIMTM	0.1%	$284,409	5,333	Held
CaterpillarCAT	0.1%	$275,810	259	Held
Ishares TRIVW	0.1%	$273,960	1,992	Held
First TR Exchange-Traded FDFXL	0.1%	$272,394	1,254	Held
Valero EnergyVLO	0.1%	$260,440	1,000	Held
Vanguard Wellington FDVTES	0.1%	$256,619	2,533	-68%
Ishares TREFA	0.1%	$244,638	2,355	Held
NvidiaNVDA	0.1%	$244,110	1,220	+69%
Dimensional ETF TrustDFIV	0.1%	$242,064	4,481	Held
McDonald'sMCD	0.1%	$241,928	895	Held
Schwab Strategic TRSCHF	0.1%	$240,741	8,691	Held
ChevronCVX	0.1%	$237,817	1,435	-8%
Invesco Exchange Traded FD TRPV	0.1%	$236,405	2,077	Held
Vanguard MUN BD FDSVTEB	0.1%	$227,712	4,502	-42%
Dimensional ETF TrustDIHP	0.1%	$225,260	6,601	Held
Vaneck ETF TrustGDX	0.1%	$224,841	2,980	Held
American Centy ETF TRAVEM	0.1%	$222,217	2,303	Held
Steel DynamicsSTLD	0.1%	$217,758	949	-3%
Ishares TRIGRO	0.1%	$208,746	2,374	Held
First TR Exchange-Traded FDFXH	0.1%	$201,716	1,648	Held
Ishares TRVLUE	<0.1%	$188,222	942	Held
Ishares TRIXUS	<0.1%	$186,872	1,958	+6%
Select Sector Spdr TRXLI	<0.1%	$183,749	992	Held
Vanguard Intl Equity Index FVWO	<0.1%	$180,264	3,020	Held
Procter & GamblePG	<0.1%	$174,062	1,187	Held
Vanguard Index FDSVB	<0.1%	$166,413	549	Held
Eli LillyLLY	<0.1%	$163,123	136	New
Ishares TRIJH	<0.1%	$154,220	2,000	Held
American Centy ETF TRAVSC	<0.1%	$148,807	2,029	Held
Select Sector Spdr TRXLK	<0.1%	$147,463	774	+416%
Texas InstrumentsTXN	<0.1%	$138,901	466	+137%
VistraVST	<0.1%	$135,471	854	Held
Dimensional ETF TrustDFUS	<0.1%	$134,054	1,636	Held
Lam ResearchLRCX	<0.1%	$132,166	305	Held
ConocoPhillipsCOP	<0.1%	$129,930	1,250	Held
Walt DisneyDIS	<0.1%	$124,644	1,295	Held
Seagate Technology HoldingsSTX	<0.1%	$115,800	120	New
Waste ManagementWM	<0.1%	$114,784	515	Held

Showing the largest 100 of 295.

Options (9)

AppleAAPL
Type
Call
Value
$289,360
Contracts
1,000
AST SpaceMobileASTS
Type
Call
Value
$44,430
Contracts
500
NvidiaNVDA
Type
Call
Value
$40,018
Contracts
200
Marvell TechnologyMRVL
Type
Call
Value
$29,789
Contracts
100
SoFi TechnologiesSOFI
Type
Call
Value
$7,788
Contracts
300
Global X FDSCOPX
Type
Call
Value
$7,697
Contracts
100
Rigetti ComputingRGTI
Type
Call
Value
$7,495
Contracts
500
Kratos Defense & Security SolutionsKTOS
Type
Call
Value
$0
Contracts
200
Tidal Trust IIRKLX
Type
Call
Value
$0
Contracts
200

Company	Type	Value	Contracts
AppleAAPL	Call	$289,360	1,000
AST SpaceMobileASTS	Call	$44,430	500
NvidiaNVDA	Call	$40,018	200
Marvell TechnologyMRVL	Call	$29,789	100
SoFi TechnologiesSOFI	Call	$7,788	300
Global X FDSCOPX	Call	$7,697	100
Rigetti ComputingRGTI	Call	$7,495	500
Kratos Defense & Security SolutionsKTOS	Call	$0	200
Tidal Trust IIRKLX	Call	$0	200

Over time and by industry

Value over time

Jun '25

Dec '25

Jun '26

Value is up 51.9% since 30 June 2025.

Where the money is

Technology9.9%

Everyday goods3.8%

Materials3.4%

Utilities3.2%

Media & telecom2.5%

Retail & consumer1.7%

Energy1.0%

Financial services0.6%

Industrials0.6%

Health care0.5%

Real estate0.0%

Other72.8%

From the fund's 13F filings. They list US stocks and options only, 45 days after each quarter, and leave out cash, bonds, shorts and foreign shares.