Q1 2025 · 13F-HR
BECK MACK & OLIVER LLCholdings as filed
Filed 2025-05-15 · accession 0000010742-25-000008
$5.01B
Reported value
187
Positions
2025-03-31
Period end
Holdings as filed
| CUSIP | Ticker | Issuer | Value | % port. | Shares | Class | Voting |
|---|---|---|---|---|---|---|---|
| 03769M106 | APO | APOLLO GLOBAL MGMT INC | $393.4M | 7.86% | 2,872,524 | Common | SOLE |
| 09260D107 | BX | BLACKSTONE INC. | $315.7M | 6.31% | 2,258,639 | Common | SOLE |
| 363576109 | AJG | GALLAGHER ARTHUR J | $270.3M | 5.40% | 782,909 | Common | SOLE |
| 594918104 | MSFT | MICROSOFT CORP | $260.3M | 5.20% | 693,352 | Common | SOLE |
| 225310101 | CACC | CREDIT ACCEP CORP MICH COM | $203.9M | 4.07% | 394,972 | Common | SOLE |
| G05320109 | ASHTF | ASHTEAD GROUP PLC SHS | $179.5M | 3.59% | 3,308,677 | Common | SOLE |
| 02079k107 | — | ALPHABET INC CAP STK CL C | $178.5M | 3.57% | 1,142,752 | Common | SOLE |
| 808513105 | SCHW | SCHWAB CHARLES CP NEW COM | $170.0M | 3.40% | 2,171,570 | Common | SOLE |
| 750491102 | RDNT | RADNET INC COM | $163.1M | 3.26% | 3,280,449 | Common | SOLE |
| 504922105 | LH | LABCORP HOLDINGS | $145.9M | 2.91% | 627,018 | Common | SOLE |
| 22160n109 | — | COSTAR GROUP INC. | $143.4M | 2.87% | 1,810,537 | Common | SOLE |
| 31488V107 | FERG | FERGUSON ENTERPRISES INC. | $137.9M | 2.75% | 860,774 | Common | SOLE |
| 09581B103 | OWL | BLUE OWL CAPITAL INC COM CL A | $135.8M | 2.71% | 6,777,668 | Common | SOLE |
| 776696106 | ROP | ROPER TECHNOLOGIES INC COM | $131.9M | 2.64% | 223,779 | Common | SOLE |
| 88023U101 | SGI | SOMNIGROUP INTERNATIONAL COM | $129.7M | 2.59% | 2,165,950 | Common | SOLE |
| 337738108 | FISV | FISERV INC | $118.9M | 2.37% | 538,269 | Common | SOLE |
| 98983L108 | ZWS | ZURN ELKAY WATER SOLUTIONS COR | $117.8M | 2.35% | 3,572,869 | Common | SOLE |
| 002824100 | ABT | ABBOTT LABS | $111.8M | 2.23% | 842,669 | Common | SOLE |
| 025816109 | AXP | AMERICAN EXPRESS CO | $108.1M | 2.16% | 401,858 | Common | SOLE |
| 46625H100 | JPM | JPMORGAN CHASE & CO. | $103.4M | 2.07% | 421,452 | Common | SOLE |
| 43300a203 | — | HILTON WORLDWIDE HOLDINGS INC | $98.3M | 1.96% | 431,992 | Common | SOLE |
| 941848103 | WAT | WATERS CORPORATION | $92.1M | 1.84% | 249,909 | Common | SOLE |
| 576485205 | MTDR | MATADOR RES CO COM | $77.4M | 1.55% | 1,514,928 | Common | SOLE |
| 47233W109 | JEF | JEFFERIES FINANCIAL GROUP | $70.3M | 1.40% | 1,312,904 | Common | SOLE |
| 02079k305 | — | ALPHABET INC CAP STK CL A | $69.1M | 1.38% | 447,066 | Common | SOLE |
| 570535104 | MKL | MARKEL GROUP INC. | $55.6M | 1.11% | 29,727 | Common | SOLE |
| 781846209 | RUSHA | RUSH ENTERPRISES INC CL A | $54.7M | 1.09% | 1,023,762 | Common | SOLE |
| 57636Q104 | MA | MASTERCARD INC CL A | $54.5M | 1.09% | 99,421 | Common | SOLE |
| 747525103 | QCOM | QUALCOMM INC COM | $52.1M | 1.04% | 339,488 | Common | SOLE |
| 084670702 | BRK/B | BERKSHIRE HATHAW.CLB | $48.7M | 0.97% | 91,521 | Common | SOLE |
| 929740108 | WAB | WABTEC CORPORATION | $45.1M | 0.90% | 248,811 | Common | SOLE |
| 478160104 | JNJ | JOHNSON & JOHNSON | $38.2M | 0.76% | 230,280 | Common | SOLE |
| 907818108 | UNP | UNION PAC CORP | $36.7M | 0.73% | 155,557 | Common | SOLE |
| 548661107 | LOW | LOWES COS INC COM | $34.7M | 0.69% | 148,876 | Common | SOLE |
| 293792107 | EPD | ENTERPRISE PRODS PARTNERS LP | $33.8M | 0.67% | 989,310 | Common | SOLE |
| G3075P101 | ESGRUSD | ENSTAR GROUP LTD | $30.7M | 0.61% | 92,327 | Common | SOLE |
| 11271J107 | BN | BROOKFIELD CORP CL A LMT VTG S | $29.6M | 0.59% | 565,655 | Common | SOLE |
| 023135106 | AMZN | AMAZON.COM INC | $28.4M | 0.57% | 149,164 | Common | SOLE |
| 969457100 | WMB | WILLIAMS COS INC DEL | $27.1M | 0.54% | 453,674 | Common | SOLE |
| 931142103 | WMT | WAL MART INC. | $26.8M | 0.54% | 305,626 | Common | SOLE |
| 934423104 | WBD | WARNER BROS DISCOVERY INC COM | $25.2M | 0.50% | 2,347,279 | Common | SOLE |
| 378973507 | GSAT | GLOBALSTAR INC | $24.6M | 0.49% | 1,178,230 | Common | SOLE |
| 037833100 | AAPL | APPLE INC COM | $24.5M | 0.49% | 110,509 | Common | SOLE |
| 34965K107 | FTRE | FORTREA HOLDINGS INC. | $22.2M | 0.44% | 2,935,111 | Common | SOLE |
| 881624209 | TEVA | TEVA PHARMAC.IND.ADR | $18.0M | 0.36% | 1,170,735 | Common | SOLE |
| 443510607 | HUBB | HUBBELL INC COM | $16.8M | 0.33% | 50,669 | Common | SOLE |
| 83207R107 | SDHC | SMITH DOUGLAS HOMES CO COM SHS | $16.4M | 0.33% | 840,975 | Common | SOLE |
| 29250n105 | — | ENBRIDGE INC COM | $15.4M | 0.31% | 348,194 | Common | SOLE |
| 26441c204 | — | DUKE ENERGY CORP NEW COM NEW | $15.4M | 0.31% | 126,365 | Common | SOLE |
| 871829107 | SYY | SYSCO CORP COM | $13.7M | 0.27% | 182,311 | Common | SOLE |
| 824348106 | SHW | SHERWIN WILLIAMS CO COM | $13.3M | 0.27% | 38,139 | Common | SOLE |
| 260003108 | DOV | DOVER CORP | $11.7M | 0.23% | 66,848 | Common | SOLE |
| 92343V104 | VZ | VERIZON COMM. | $10.7M | 0.21% | 234,921 | Common | SOLE |
| 03990B101 | ARES | ARES MGMT L P COM UNIT RP IN | $10.5M | 0.21% | 71,327 | Common | SOLE |
| 70014A104 | PKE | PARK AEROSPACE CORP. | $10.2M | 0.20% | 761,797 | Common | SOLE |
| 320551104 | DIBS | 1STDIBS COM INC COM | $10.2M | 0.20% | 3,344,426 | Common | SOLE |
| 22662X100 | CWGL | CRIMSON WINE GROUP LTD COM | $9.9M | 0.20% | 1,716,152 | Common | SOLE |
| 58933Y105 | MRK | MERCK & CO INC | $9.6M | 0.19% | 106,892 | Common | SOLE |
| 22160K105 | COST | COSTCO WHSL CORP NEW | $9.4M | 0.19% | 9,912 | Common | SOLE |
| 67077M108 | NTR | NUTRIEN LTD COM | $9.3M | 0.19% | 186,820 | Common | SOLE |
| 742718109 | PG | PROCTER & GAMBLE | $8.8M | 0.18% | 51,691 | Common | SOLE |
| 053015103 | ADP | AUTOM.DATA PROCESSING | $8.6M | 0.17% | 28,233 | Common | SOLE |
| 892231101 | TSQ | TOWNSQUARE MEDIA INC CL A | $7.7M | 0.15% | 943,714 | Common | SOLE |
| 31428X106 | FDX | FEDEX CORP | $7.2M | 0.14% | 29,708 | Common | SOLE |
| 48251W104 | KKR | KKR & CO INC. | $7.0M | 0.14% | 60,766 | Common | SOLE |
| 437076102 | HD | HOME DEPOT INC COM | $6.6M | 0.13% | 18,084 | Common | SOLE |
| 494368103 | KMB | KIMBERLY CLARK CORP | $6.4M | 0.13% | 44,748 | Common | SOLE |
| 743315103 | PGR | PROGRESSIVE CORP OHIO | $5.8M | 0.12% | 20,646 | Common | SOLE |
| 30231G102 | XOM | EXXON MOBIL CORP | $5.5M | 0.11% | 46,054 | Common | SOLE |
| 92852X103 | VTS | VITESSE ENERGY INC | $5.1M | 0.10% | 208,816 | Common | SOLE |
| G0692U109 | AXS | AXIS CAP.HOLDGS.LTD. | $5.1M | 0.10% | 50,706 | Common | SOLE |
| 92826C839 | V | VISA INC COM CL A | $5.0M | 0.10% | 14,312 | Common | SOLE |
| 113004105 | BAM | BROOKFIELD ASSET MANAG CL A LM | $5.0M | 0.10% | 102,301 | Common | SOLE |
| G54950103 | LIN | LINDE PLC COM | $3.9M | 0.08% | 8,291 | Common | SOLE |
| 04247x102 | — | ARMSTRONG WORLD INDS I COM | $3.9M | 0.08% | 27,356 | Common | SOLE |
| 00287y109 | — | ABBVIE INC. COM | $3.8M | 0.08% | 18,191 | Common | SOLE |
| 713448108 | PEP | PEPSICO INC COM | $3.6M | 0.07% | 23,757 | Common | SOLE |
| 55261F104 | MTB | M & T BK CORP | $3.4M | 0.07% | 19,103 | Common | SOLE |
| 78463V107 | GLD | SPDR GOLD TRUST | $3.3M | 0.07% | 11,475 | Common | SOLE |
| 084670108 | BRK/A | BERKSHIRE HATHAW.CLA | $3.2M | 0.06% | 4 | Common | SOLE |
| 53947R105 | LOAR | LOAR HOLDINGS INC. | $3.2M | 0.06% | 45,000 | Common | SOLE |
| 37959E102 | GL | GLOBE LIFE INC COM | $2.8M | 0.06% | 21,125 | Common | SOLE |
| 464287200 | IVV | ISHARES S&P 500 INDEX FUND | $2.5M | 0.05% | 4,407 | Common | SOLE |
| 244199105 | DE | DEERE & CO COM | $2.4M | 0.05% | 5,200 | Common | SOLE |
| 064058100 | BK | BANK NEW YORK MELLON CORP | $2.2M | 0.04% | 26,468 | Common | NONE |
| 717081103 | PFE | PFIZER INC | $2.2M | 0.04% | 87,506 | Common | SOLE |
| 641069406 | NSRGY | NESTLE SA SPONSORED ADR | $1.8M | 0.04% | 18,190 | Common | SOLE |
| 166764100 | CVX | CHEVRON CORPORATION | $1.8M | 0.04% | 10,477 | Common | SOLE |
| 872540109 | TJX | TJX COS INC NEW COM | $1.6M | 0.03% | 13,521 | Common | SOLE |
| g02602103 | — | AMDOCS LTD | $1.6M | 0.03% | 17,617 | Common | NONE |
| 00790R104 | WMS | ADVANCED DRAIN SYS INC COM | $1.5M | 0.03% | 14,065 | Common | SOLE |
| 031162100 | AMGN | AMGEN INC COM | $1.5M | 0.03% | 4,905 | Common | NONE |
| 369604301 | GE | GE AEROSPACE | $1.5M | 0.03% | 7,262 | Common | SOLE |
| 42809h107 | — | HESS CORPORATION | $1.4M | 0.03% | 9,000 | Common | SOLE |
| 126650100 | CVS | CVS HEALTH CORP COM | $1.4M | 0.03% | 20,963 | Common | NONE |
| 512816109 | LAMR | LAMAR ADVERTISING CO | $1.4M | 0.03% | 12,465 | Common | SOLE |
| 75513E101 | RTX | RTX CORP. | $1.4M | 0.03% | 10,670 | Common | SOLE |
| 191216100 | KO | COCA-COLA CO | $1.4M | 0.03% | 19,541 | Common | SOLE |
| 744573106 | PEG | PUBLIC SERVICE ENTERPRISE GR | $1.3M | 0.03% | 16,400 | Common | SOLE |
| 235851102 | DHR | DANAHER CORP DEL | $1.3M | 0.03% | 6,411 | Common | SOLE |
| 922908363 | VOO | VANGUARD INDEX FDS S&P 500 ETF | $1.3M | 0.03% | 2,505 | Common | SOLE |
| 30303m102 | — | META PLATFORMS INC CL A | $1.2M | 0.02% | 2,103 | Common | SOLE |
| 806857108 | SLB | SCHLUMBERGER LTD | $1.2M | 0.02% | 28,800 | Common | SOLE |
| 91324P102 | UNH | UNITED HEALTH GROUP | $1.1M | 0.02% | 2,116 | Common | SOLE |
| 28176E108 | EW | EDWARDS LIFESCIENCES COR | $1.1M | 0.02% | 15,120 | Common | SOLE |
| 311900104 | FAST | FASTENAL CO | $1.1M | 0.02% | 14,000 | Common | SOLE |
| 65339F101 | NEE | NEXTERA ENERGY INC. | $1.1M | 0.02% | 14,828 | Common | SOLE |
| 780259305 | SHEL | SHELL PLC SPON ADS | $1.0M | 0.02% | 13,647 | Common | SOLE |
| 02209S103 | MO | ALTRIA GROUP INC | $974,725 | 0.02% | 16,240 | Common | SOLE |
| 883556102 | TMO | THERMO FISHER SCIENTIF COM | $967,832 | 0.02% | 1,945 | Common | SOLE |
| 071813109 | BAX | BAXTER INTL INC | $960,939 | 0.02% | 28,073 | Common | SOLE |
| 693475105 | PNC | PNC FINL SVCS GROUP COM | $940,370 | 0.02% | 5,350 | Common | SOLE |
| 20030N101 | CMCSA | COMCAST CORP CL A | $940,169 | 0.02% | 25,479 | Common | SOLE |
| 25746U109 | D | DOMINION ENERGY | $935,977 | 0.02% | 16,693 | Common | SOLE |
| 78462F103 | SPY | SPDR TR UNIT SER 1 STANDARD & | $862,020 | 0.02% | 1,541 | Common | SOLE |
| 874039100 | TSM | TAIWAN SEMICONDUCTOR-SP ADR | $830,166 | 0.02% | 5,001 | Common | SOLE |
| 592688105 | MTD | METTLER TOLEDO INT'L | $814,828 | 0.02% | 690 | Common | SOLE |
| 617446448 | MS | MORGAN STANLEY | $714,604 | 0.01% | 6,125 | Common | SOLE |
| 888787108 | TOST | TOAST INC CL A | $693,916 | 0.01% | 20,920 | Common | SOLE |
| 580135101 | MCD | MCDONALDS CORP COM | $673,157 | 0.01% | 2,155 | Common | SOLE |
| 48128B648 | JPM 6 PERP EE | JPMORGAN CHASE AND CO 6 DEP NC | $666,458 | 0.01% | 26,637 | Common | SOLE |
| 892356106 | TSCO | TRACTOR SUPPLY CO COM | $660,484 | 0.01% | 11,987 | Common | SOLE |
| 67066G104 | NVDA | NVIDIA CORP COM | $659,601 | 0.01% | 6,086 | Common | SOLE |
| 26875P101 | EOG | EOG RES INC COM | $628,376 | 0.01% | 4,900 | Common | SOLE |
| 704326107 | PAYX | PAYCHEX INC | $617,120 | 0.01% | 4,000 | Common | SOLE |
| 68389X105 | ORCL | ORACLE CORP COM | $611,529 | 0.01% | 4,374 | Common | SOLE |
| 14448C104 | CARR | CARRIER GLOBAL CORP COM | $594,629 | 0.01% | 9,379 | Common | SOLE |
| 36828A101 | GEV | GE VERNOVA INC COM | $584,611 | 0.01% | 1,915 | Common | SOLE |
| 200525103 | CBSH | COMMERCE BANCSHARES COM | $541,401 | 0.01% | 8,700 | Common | SOLE |
| 922908710 | VFIAX | VANGUARD INDEX FDS 500INDEX AD | $536,560 | 0.01% | 1,036 | Common | SOLE |
| 45168D104 | IDXX | IDEXX LABS INC COM | $503,940 | 0.01% | 1,200 | Common | SOLE |
| 94106L109 | WM | WASTE MGMT INC DEL COM | $474,132 | 0.01% | 2,048 | Common | SOLE |
| 68902V107 | OTIS | OTIS WORLDWIDE CORP COM | $453,770 | 0.01% | 4,397 | Common | SOLE |
| G1151C101 | ACN | ACCENTURE PLC | $447,465 | 0.01% | 1,434 | Common | SOLE |
| 020002101 | ALL | ALLSTATE CORP COM | $442,302 | 0.01% | 2,136 | Common | SOLE |
| 92189f791 | — | VANECK VECTORS ETF TR JR GOLD | $440,440 | 0.01% | 7,700 | Common | SOLE |
| 315911750 | FXAIX | FIDELITY CONCORD STR T 500 IND | $438,606 | 0.01% | 2,244 | Common | SOLE |
| 254709108 | DFSEUR | DISCOVER FINL SVCS COM | $426,750 | 0.01% | 2,500 | Common | SOLE |
| 66987V109 | NVS | NOVARTIS A G SPONSORED ADR | $423,624 | 0.01% | 3,800 | Common | SOLE |
| 531229771 | FWONA | LIBERTY MEDIA CORP DEL FRMULA | $416,230 | 0.01% | 5,109 | Common | SOLE |
| g7496g103 | — | RENAISSANCE RE HLDGS | $408,000 | 0.01% | 1,700 | Common | SOLE |
| 902973304 | USB | US BANCORP DEL COM | $407,550 | 0.01% | 9,653 | Common | SOLE |
| 655663102 | NDSN | NORDSON CORP COM | $403,440 | 0.01% | 2,000 | Common | SOLE |
| 254687106 | DIS | DISNEY WALT CO | $393,714 | 0.01% | 3,989 | Common | SOLE |
| 12504L109 | CBRE | CBRE GROUP INC CL A | $382,662 | 0.01% | 2,926 | Common | SOLE |
| 20825C104 | COP | CONOCOPHILLIPS COM | $375,972 | 0.01% | 3,580 | Common | SOLE |
| 78409V104 | SPGI | S&P GLOBAL INC COM | $363,800 | 0.01% | 716 | Common | SOLE |
| 98978v103 | — | ZOETIS INC CL A | $363,053 | 0.01% | 2,205 | Common | SOLE |
| 459200101 | IBM | INTL. BUSINESS MACHINES | $362,843 | 0.01% | 1,459 | Common | SOLE |
| 036752103 | ELV | ELEVANCE HEALTH INC | $341,009 | 0.01% | 784 | Common | SOLE |
| 01881g106 | — | ALLIANCE BERNSTEIN HOLDING L.P | $339,350 | 0.01% | 8,858 | Common | NONE |
| 78464a763 | — | SPDR SERIES TRUST S&P DIVID ET | $336,893 | 0.01% | 2,483 | Common | SOLE |
| 531229755 | FWONK | LIBERTY MEDIA CORP DEL FRMULA | $324,396 | 0.01% | 3,604 | Common | SOLE |
| 816851109 | SRE | SEMPRA ENERGY | $316,836 | 0.01% | 4,440 | Common | NONE |
| 177835105 | CHCO | CITY HLDG CO COM | $306,714 | 0.01% | 2,611 | Common | SOLE |
| 949746101 | WMT2 | WELLS FARGO & CO NEW | $293,047 | 0.01% | 4,082 | Common | SOLE |
| 21037x100 | — | CONSTELLATION SOFTWARE INC (B1 | $278,690 | 0.01% | 88 | Common | SOLE |
| 988498101 | YUM | YUM! BRANDS INC. | $276,954 | 0.01% | 1,760 | Common | SOLE |
| 842587107 | SO | SOUTHERN CO COM | $271,253 | 0.01% | 2,950 | Common | SOLE |
| 46982L108 | J | JACOBS ENGR GROUP INC COM | $269,826 | 0.01% | 2,232 | Common | SOLE |
| 155123102 | CET | CENTRAL SECS CORP | $263,171 | 0.01% | 5,853 | Common | SOLE |
| h1467j104 | — | CHUBB LIMITED COM | $259,107 | 0.01% | 858 | Common | SOLE |
| 808524409 | SCHV | SCHWAB STRATEGIC TR US LCAP VA | $242,775 | 0.00% | 9,134 | Common | SOLE |
| 808524508 | SCHM | SCHWAB STRATEGIC TR US MID-CAP | $240,175 | 0.00% | 9,167 | Common | SOLE |
| 882508104 | TXN | TEXAS INSTRS INC COM | $238,103 | 0.00% | 1,325 | Common | SOLE |
| 771195104 | RHHBY | ROCHE HOLDINGS LTD - SPON ADR | $231,510 | 0.00% | 5,626 | Common | NONE |
| 03027x100 | — | AMERICAN TOWER REIT COM | $217,600 | 0.00% | 1,000 | Common | SOLE |
| 110122108 | BMY | BRISTOL MYERS SQUIBB | $213,465 | 0.00% | 3,500 | Common | SOLE |
| 947890109 | WBS | WEBSTER FINANCIAL CP | $210,891 | 0.00% | 4,091 | Common | SOLE |
| 654106103 | NKE | NIKE INC CL B | $209,674 | 0.00% | 3,303 | Common | SOLE |
| 922908751 | VB | VANGUARD SMALL-CAP VIPERS | $206,228 | 0.00% | 930 | Common | SOLE |
| 36266G107 | GEHC | GE HEALTHCARE TECHNOLO COMMON | $206,053 | 0.00% | 2,553 | Common | SOLE |
| 482480100 | KLAC | KLA-TENCOR CORP COM | $203,260 | 0.00% | 299 | Common | SOLE |
| G33856108 | GSM | FERROGLOBE PLC SHS | $149,884 | 0.00% | 40,400 | Common | SOLE |
| 444097109 | — | HUDSON PAC PPTYS INC COM | $147,500 | 0.00% | 50,000 | Common | SOLE |
| G1214R111 | — | BODYCOTE PLC COM | $122,060 | 0.00% | 17,000 | Common | SOLE |
| 09228F103 | BB | BLACKBERRY LTD COM | $108,011 | 0.00% | 28,650 | Common | SOLE |
| 81727U105 | SENS1GBP | SENSEONICS HLDGS INC COM | $99,694 | 0.00% | 151,950 | Common | SOLE |
| 92556V106 | VTRS | VIATRIS INC COM | $92,910 | 0.00% | 10,667 | Common | SOLE |
| 798241105 | SJT | SAN JUAN BASIN RTUBI | $91,134 | 0.00% | 16,480 | Common | SOLE |
| h8817h100 | — | TRANSOCEAN LTD | $33,919 | 0.00% | 10,700 | Common | SOLE |
| 92511W108 | — | VERRICA PHARMACEUTICALS INC | $30,954 | 0.00% | 70,000 | Common | SOLE |
| 023111404 | AMRN | AMARIN CORP PLC SPONS ADR NEW | $9,858 | 0.00% | 22,000 | Common | SOLE |
| 07380n104 | — | BEAR CREEK MNG CORP COM | $4,082 | 0.00% | 30,000 | Common | SOLE |
| 92240c308 | — | VCAMPUS CORP COM NEW | $0 | — | 59,956 | Common | SOLE |
| 26518Q102 | EUGFF | DUNDEE ENERGY LTD COM | $0 | — | 10,000 | Common | SOLE |
| 563499102 | — | MANITOK ENERGY INC COM | $0 | — | 24,829 | Common | SOLE |
Source: SEC EDGAR · raw 13F holdings as filed. The Class column shows the option type when reported (Put/Call) or Common when the issuer's equity is held directly. 13F discloses long positions only.