Q2 2025 · 13F-HR
Alesco Advisors, LLC, An ESL Coholdings as filed
Filed 2025-07-09 · accession 0001140361-25-025343
$3.48B
Reported value
193
Positions
2025-06-30
Period end
The Brief · Alesco Advisors, LLC, An ESL Co · Q2 2025
AI · grounded in 13F
Alesco Advisors, LLC, An ESL Co established a new position in IVV valued at $821.99M. The fund also initiated new stakes in IJH for $334.91M and IJR for $258.13M. Additional new positions include IDEV at $237.88M and IEMG at $150.75M.
Holdings as filed
| CUSIP | Ticker | Issuer | Value | % port. | Shares | Class | Voting |
|---|---|---|---|---|---|---|---|
| 464287200 | IVV | ISHARES TR | $822.0M | 23.6% | 1,323,861 | Common | SOLE |
| 464287507 | IJH | ISHARES TR | $334.9M | 9.63% | 5,400,020 | Common | SOLE |
| 464287804 | IJR | ISHARES TR | $258.1M | 7.42% | 2,361,858 | Common | SOLE |
| 46435G326 | IDEV | ISHARES TR | $237.9M | 6.84% | 3,128,384 | Common | SOLE |
| 46434G103 | IEMG | ISHARES INC | $150.8M | 4.34% | 2,511,249 | Common | SOLE |
| 808524870 | SCHP | SCHWAB STRATEGIC TR | $146.1M | 4.20% | 5,474,498 | Common | SOLE |
| 921937835 | BND | VANGUARD BD INDEX FDS | $145.2M | 4.17% | 1,971,352 | Common | SOLE |
| 78462F103 | SPY | SPDR S&P 500 ETF TR | $136.2M | 3.92% | 220,511 | Common | SOLE |
| 46432F842 | IEFA | ISHARES TR | $133.7M | 3.85% | 1,601,603 | Common | SOLE |
| 025072877 | AVUV | AMERICAN CENTY ETF TR | $99.0M | 2.85% | 1,086,803 | Common | SOLE |
| 922020805 | VTIP | VANGUARD MALVERN FDS | $94.5M | 2.72% | 1,880,772 | Common | SOLE |
| 25434V831 | DUHP | DIMENSIONAL ETF TRUST | $94.2M | 2.71% | 2,650,009 | Common | SOLE |
| 025072349 | AVLV | AMERICAN CENTY ETF TR | $91.6M | 2.63% | 1,342,796 | Common | SOLE |
| 464288877 | EFV | ISHARES TR | $89.1M | 2.56% | 1,403,487 | Common | SOLE |
| 46429B267 | GOVT | ISHARES TR | $74.3M | 2.14% | 3,233,769 | Common | SOLE |
| 921943858 | VEA | VANGUARD TAX-MANAGED FDS | $50.1M | 1.44% | 878,694 | Common | SOLE |
| 46435G425 | ESGU | ISHARES TR | $37.6M | 1.08% | 277,563 | Common | SOLE |
| 46435U549 | EAGG | ISHARES TR | $31.9M | 0.92% | 671,888 | Common | SOLE |
| 922042858 | VWO | VANGUARD INTL EQUITY INDEX F | $25.7M | 0.74% | 518,732 | Common | SOLE |
| 78464A508 | SPYV | SPDR SERIES TRUST | $21.1M | 0.61% | 402,864 | Common | SOLE |
| 464288158 | SUB | ISHARES TR | $17.0M | 0.49% | 159,994 | Common | SOLE |
| 464288414 | MUB | ISHARES TR | $16.7M | 0.48% | 160,061 | Common | SOLE |
| 464288323 | NYF | ISHARES TR | $15.3M | 0.44% | 292,550 | Common | SOLE |
| 464288646 | IGSB | ISHARES TR | $15.0M | 0.43% | 285,093 | Common | SOLE |
| 464287408 | IVE | ISHARES TR | $14.5M | 0.42% | 73,986 | Common | SOLE |
| 922908637 | VV | VANGUARD INDEX FDS | $13.7M | 0.39% | 48,105 | Common | SOLE |
| 808524862 | SCHO | SCHWAB STRATEGIC TR | $13.7M | 0.39% | 561,392 | Common | SOLE |
| 46435G516 | ESGD | ISHARES TR | $12.1M | 0.35% | 135,637 | Common | SOLE |
| 25434V773 | DFIS | DIMENSIONAL ETF TRUST | $11.8M | 0.34% | 394,531 | Common | SOLE |
| 464288273 | SCZ | ISHARES TR | $11.1M | 0.32% | 152,162 | Common | SOLE |
| 46429B747 | STIP | ISHARES TR | $10.5M | 0.30% | 101,560 | Common | SOLE |
| 381430529 | GBIL | GOLDMAN SACHS ETF TR | $9.7M | 0.28% | 96,572 | Common | SOLE |
| 25434V740 | DFEV | DIMENSIONAL ETF TRUST | $9.6M | 0.28% | 320,787 | Common | SOLE |
| 78464A839 | MDYV | SPDR SERIES TRUST | $9.4M | 0.27% | 118,673 | Common | SOLE |
| 464287614 | IWF | ISHARES TR | $7.8M | 0.23% | 18,428 | Common | SOLE |
| 922908512 | VOE | VANGUARD INDEX FDS | $7.8M | 0.22% | 47,264 | Common | SOLE |
| 78468R200 | FLRN | SPDR SERIES TRUST | $7.2M | 0.21% | 233,130 | Common | SOLE |
| 46435U663 | ESML | ISHARES TR | $6.7M | 0.19% | 161,907 | Common | SOLE |
| 78464A854 | SPYM | SPDR SERIES TRUST | $6.4M | 0.18% | 87,820 | Common | SOLE |
| 46436E718 | SGOV | ISHARES TR | $6.3M | 0.18% | 62,257 | Common | SOLE |
| 78468R861 | TIPX | SPDR SERIES TRUST | $6.1M | 0.18% | 318,981 | Common | SOLE |
| 464288869 | IWC | ISHARES TR | $6.1M | 0.17% | 47,452 | Common | SOLE |
| 594918104 | MSFT | MICROSOFT CORP | $6.1M | 0.17% | 12,178 | Common | SOLE |
| 037833100 | AAPL | APPLE INC | $6.0M | 0.17% | 29,160 | Common | SOLE |
| 46434V407 | SHYG | ISHARES TR | $5.8M | 0.17% | 135,265 | Common | SOLE |
| 46434G863 | ESGE | ISHARES INC | $5.5M | 0.16% | 140,042 | Common | SOLE |
| 808524755 | FNDF | SCHWAB STRATEGIC TR | $5.2M | 0.15% | 130,488 | Common | SOLE |
| 92206C730 | VONE | VANGUARD SCOTTSDALE FDS | $5.0M | 0.14% | 17,827 | Common | SOLE |
| 464287465 | EFA | ISHARES TR | $4.4M | 0.13% | 49,282 | Common | SOLE |
| 084670702 | BRK/B | BERKSHIRE HATHAWAY INC DEL | $4.2M | 0.12% | 8,726 | Common | SOLE |
| 922908629 | VO | VANGUARD INDEX FDS | $4.1M | 0.12% | 14,711 | Common | SOLE |
| 46429B655 | FLOT | ISHARES TR | $3.7M | 0.11% | 72,770 | Common | SOLE |
| 464287705 | IJJ | ISHARES TR | $3.5M | 0.10% | 27,999 | Common | SOLE |
| 464287689 | IWV | ISHARES TR | $3.4M | 0.10% | 9,608 | Common | SOLE |
| 921937827 | BSV | VANGUARD BD INDEX FDS | $3.2M | 0.09% | 41,168 | Common | SOLE |
| 92206C409 | VCSH | VANGUARD SCOTTSDALE FDS | $3.1M | 0.09% | 39,418 | Common | SOLE |
| 922908751 | VB | VANGUARD INDEX FDS | $3.0M | 0.08% | 12,456 | Common | SOLE |
| 023135106 | AMZN | AMAZON COM INC | $2.8M | 0.08% | 12,583 | Common | SOLE |
| 922907746 | VTEB | VANGUARD MUN BD FDS | $2.6M | 0.07% | 52,060 | Common | SOLE |
| 464287309 | IVW | ISHARES TR | $2.5M | 0.07% | 22,617 | Common | SOLE |
| 46625H100 | JPM | JPMORGAN CHASE & CO. | $2.4M | 0.07% | 8,174 | Common | SOLE |
| 11135E203 | BNL | BROADSTONE NET LEASE INC | $2.3M | 0.07% | 145,484 | Common | SOLE |
| 464287226 | AGG | ISHARES TR | $2.3M | 0.07% | 23,040 | Common | SOLE |
| 704326107 | PAYX | PAYCHEX INC | $2.2M | 0.06% | 15,442 | Common | SOLE |
| 78464A383 | SPMB | SPDR SERIES TRUST | $2.1M | 0.06% | 94,950 | Common | SOLE |
| 464287606 | IJK | ISHARES TR | $2.0M | 0.06% | 21,652 | Common | SOLE |
| 464288612 | GVI | ISHARES TR | $1.9M | 0.06% | 17,910 | Common | SOLE |
| 808524201 | SCHX | SCHWAB STRATEGIC TR | $1.9M | 0.05% | 77,080 | Common | SOLE |
| 464287481 | IWP | ISHARES TR | $1.9M | 0.05% | 13,400 | Common | SOLE |
| 922908363 | VOO | VANGUARD INDEX FDS | $1.7M | 0.05% | 3,080 | Common | SOLE |
| 464285204 | IAU | ISHARES GOLD TR | $1.7M | 0.05% | 27,037 | Common | SOLE |
| 464287176 | TIP | ISHARES TR | $1.6M | 0.05% | 14,479 | Common | SOLE |
| 464287655 | IWM | ISHARES TR | $1.5M | 0.04% | 7,075 | Common | SOLE |
| 30231G102 | XOM | EXXON MOBIL CORP | $1.4M | 0.04% | 13,321 | Common | SOLE |
| 464287887 | IJT | ISHARES TR | $1.4M | 0.04% | 10,230 | Common | SOLE |
| 464287879 | IJS | ISHARES TR | $1.3M | 0.04% | 12,919 | Common | SOLE |
| 921946406 | VYM | VANGUARD WHITEHALL FDS | $1.3M | 0.04% | 9,560 | Common | SOLE |
| 922908611 | VBR | VANGUARD INDEX FDS | $1.3M | 0.04% | 6,465 | Common | SOLE |
| 464288588 | MBB | ISHARES TR | $1.2M | 0.04% | 13,285 | Common | SOLE |
| 464286525 | ACWV | ISHARES INC | $1.2M | 0.04% | 10,441 | Common | SOLE |
| 92826C839 | V | VISA INC | $1.2M | 0.04% | 3,485 | Common | SOLE |
| 78464A847 | SPMD | SPDR SERIES TRUST | $1.2M | 0.03% | 22,263 | Common | SOLE |
| 37954Y889 | CATH | GLOBAL X FDS | $1.2M | 0.03% | 16,022 | Common | NONE |
| 98419M100 | XYL | XYLEM INC | $1.2M | 0.03% | 9,135 | Common | SOLE |
| 78468R796 | SPYX | SPDR SERIES TRUST | $1.2M | 0.03% | 23,180 | Common | SOLE |
| 68389X105 | ORCL | ORACLE CORP | $1.1M | 0.03% | 5,127 | Common | SOLE |
| 548661107 | LOW | LOWES COS INC | $1.1M | 0.03% | 5,009 | Common | SOLE |
| 464287572 | IOO | ISHARES TR | $1.1M | 0.03% | 10,115 | Common | SOLE |
| 78463X871 | GWX | SPDR INDEX SHS FDS | $1.1M | 0.03% | 29,228 | Common | SOLE |
| 78464A144 | SPBO | SPDR SERIES TRUST | $1.1M | 0.03% | 36,645 | Common | SOLE |
| 92206C680 | VONG | VANGUARD SCOTTSDALE FDS | $1.1M | 0.03% | 9,624 | Common | SOLE |
| 922908744 | VTV | VANGUARD INDEX FDS | $1.0M | 0.03% | 5,670 | Common | SOLE |
| 808524847 | SCHH | SCHWAB STRATEGIC TR | $997,713 | 0.03% | 47,151 | Common | NONE |
| 02079K305 | GOOGL | ALPHABET INC | $960,101 | 0.03% | 5,448 | Common | SOLE |
| 78467Y107 | MDY | SPDR S&P MIDCAP 400 ETF TR | $934,126 | 0.03% | 1,649 | Common | SOLE |
| 78468R721 | TFI | SPDR SERIES TRUST | $919,443 | 0.03% | 20,583 | Common | SOLE |
| 72201R205 | STPZ | PIMCO ETF TR | $899,273 | 0.03% | 16,712 | Common | SOLE |
| 78468R523 | BILS | SPDR SERIES TRUST | $863,649 | 0.02% | 8,686 | Common | SOLE |
| 464287648 | IWO | ISHARES TR | $857,580 | 0.02% | 3,000 | Common | SOLE |
| 78468R853 | SPSM | SPDR SERIES TRUST | $835,386 | 0.02% | 19,610 | Common | SOLE |
| 808524839 | SCHZ | SCHWAB STRATEGIC TR | $820,674 | 0.02% | 35,313 | Common | SOLE |
| 742718109 | PG | PROCTER AND GAMBLE CO | $820,498 | 0.02% | 5,150 | Common | SOLE |
| 478160104 | JNJ | JOHNSON & JOHNSON | $782,080 | 0.02% | 5,120 | Common | SOLE |
| 11135F101 | AVGO | BROADCOM INC | $775,403 | 0.02% | 2,813 | Common | SOLE |
| 464288281 | EMB | ISHARES TR | $769,209 | 0.02% | 8,305 | Common | SOLE |
| G8994E103 | TT | TRANE TECHNOLOGIES PLC | $760,219 | 0.02% | 1,738 | Common | SOLE |
| 808524508 | SCHM | SCHWAB STRATEGIC TR | $751,151 | 0.02% | 26,779 | Common | SOLE |
| 78463X756 | EWX | SPDR INDEX SHS FDS | $746,903 | 0.02% | 12,041 | Common | SOLE |
| 922042676 | VNQI | VANGUARD INTL EQUITY INDEX F | $726,632 | 0.02% | 15,745 | Common | NONE |
| 92206C102 | VGSH | VANGUARD SCOTTSDALE FDS | $721,818 | 0.02% | 12,280 | Common | SOLE |
| 464288679 | SHV | ISHARES TR | $716,626 | 0.02% | 6,490 | Common | SOLE |
| 78464A474 | SPSB | SPDR SERIES TRUST | $696,030 | 0.02% | 23,055 | Common | SOLE |
| 92189H201 | ITM | VANECK ETF TRUST | $692,963 | 0.02% | 15,240 | Common | SOLE |
| 67066G104 | NVDA | NVIDIA CORPORATION | $686,960 | 0.02% | 4,348 | Common | SOLE |
| 808524805 | SCHF | SCHWAB STRATEGIC TR | $675,796 | 0.02% | 30,579 | Common | SOLE |
| 97717Y527 | USFR | WISDOMTREE TR | $672,343 | 0.02% | 13,364 | Common | SOLE |
| 464287473 | IWS | ISHARES TR | $665,986 | 0.02% | 5,040 | Common | SOLE |
| 25434V807 | DFIV | DIMENSIONAL ETF TRUST | $660,224 | 0.02% | 15,415 | Common | SOLE |
| 808524854 | SCHR | SCHWAB STRATEGIC TR | $658,915 | 0.02% | 26,325 | Common | SOLE |
| 164024101 | CHMG | CHEMUNG FINL CORP | $640,483 | 0.02% | 13,214 | Common | SOLE |
| 33740F482 | GMAR | FIRST TR EXCHNG TRADED FD VI | $612,956 | 0.02% | 15,737 | Common | SOLE |
| 78468R663 | BIL | SPDR SERIES TRUST | $607,161 | 0.02% | 6,619 | Common | SOLE |
| 81369Y803 | XLK | SELECT SECTOR SPDR TR | $602,434 | 0.02% | 2,379 | Common | SOLE |
| 808524409 | SCHV | SCHWAB STRATEGIC TR | $597,332 | 0.02% | 21,588 | Common | SOLE |
| 464287457 | SHY | ISHARES TR | $594,935 | 0.02% | 7,180 | Common | SOLE |
| 464287242 | LQD | ISHARES TR | $580,933 | 0.02% | 5,300 | Common | SOLE |
| 464287499 | IWR | ISHARES TR | $570,214 | 0.02% | 6,200 | Common | SOLE |
| 98149E303 | GLDM | WORLD GOLD TR | $554,954 | 0.02% | 8,470 | Common | SOLE |
| 78467X109 | DIA | SPDR DOW JONES INDL AVERAGE | $537,152 | 0.02% | 1,219 | Common | SOLE |
| 464287630 | IWN | ISHARES TR | $524,552 | 0.02% | 3,325 | Common | SOLE |
| 002824100 | ABT | ABBOTT LABS | $510,223 | 0.01% | 3,751 | Common | SOLE |
| 46434V456 | IQLT | ISHARES TR | $509,996 | 0.01% | 11,800 | Common | SOLE |
| 78463V107 | GLD | SPDR GOLD TR | $502,970 | 0.01% | 1,650 | Common | SOLE |
| 00287Y109 | ABBV | ABBVIE INC | $494,492 | 0.01% | 2,664 | Common | SOLE |
| 02079K107 | GOOG | ALPHABET INC | $478,421 | 0.01% | 2,697 | Common | SOLE |
| 020002101 | ALL | ALLSTATE CORP | $469,455 | 0.01% | 2,332 | Common | SOLE |
| 254687106 | DIS | DISNEY WALT CO | $446,569 | 0.01% | 3,601 | Common | SOLE |
| 37954Y368 | CEFA | GLOBAL X FDS | $444,021 | 0.01% | 12,930 | Common | NONE |
| 46137V258 | RPV | INVESCO EXCHANGE TRADED FD T | $442,078 | 0.01% | 4,715 | Common | SOLE |
| 824348106 | SHW | SHERWIN WILLIAMS CO | $431,947 | 0.01% | 1,258 | Common | SOLE |
| 053015103 | ADP | AUTOMATIC DATA PROCESSING IN | $413,256 | 0.01% | 1,340 | Common | SOLE |
| G1151C101 | ACN | ACCENTURE PLC IRELAND | $410,974 | 0.01% | 1,375 | Common | SOLE |
| 46090E103 | QQQ | INVESCO QQQ TR | $408,249 | 0.01% | 740 | Common | SOLE |
| 46641Q753 | JVAL | J P MORGAN EXCHANGE TRADED F | $396,964 | 0.01% | 8,975 | Common | SOLE |
| 149123101 | CAT | CATERPILLAR INC | $393,645 | 0.01% | 1,014 | Common | SOLE |
| 369604301 | GE | GE AEROSPACE | $376,047 | 0.01% | 1,461 | Common | SOLE |
| 30303M102 | META | META PLATFORMS INC | $372,191 | 0.01% | 504 | Common | SOLE |
| 713448108 | PEP | PEPSICO INC | $369,712 | 0.01% | 2,800 | Common | SOLE |
| 459200101 | IBM | INTERNATIONAL BUSINESS MACHS | $361,629 | 0.01% | 1,227 | Common | SOLE |
| 464287671 | IUSG | ISHARES TR | $360,960 | 0.01% | 2,400 | Common | SOLE |
| 580135101 | MCD | MCDONALDS CORP | $354,402 | 0.01% | 1,213 | Common | SOLE |
| 46434G764 | EMXC | ISHARES INC | $347,270 | 0.01% | 5,500 | Common | SOLE |
| 291011104 | EMR | EMERSON ELEC CO | $345,325 | 0.01% | 2,590 | Common | SOLE |
| 46436E767 | USXF | ISHARES TR | $344,343 | 0.01% | 6,385 | Common | SOLE |
| 46429B689 | EFAV | ISHARES TR | $332,037 | 0.01% | 3,950 | Common | SOLE |
| 244199105 | DE | DEERE & CO | $330,519 | 0.01% | 650 | Common | SOLE |
| 437076102 | HD | HOME DEPOT INC | $325,576 | 0.01% | 888 | Common | SOLE |
| 025816109 | AXP | AMERICAN EXPRESS CO | $321,532 | 0.01% | 1,008 | Common | SOLE |
| 46436E551 | XJH | ISHARES TR | $321,293 | 0.01% | 7,742 | Common | SOLE |
| 532457108 | LLY | ELI LILLY & CO | $316,489 | 0.01% | 406 | Common | SOLE |
| 58933Y105 | MRK | MERCK & CO INC | $300,887 | 0.01% | 3,801 | Common | SOLE |
| 464287622 | IWB | ISHARES TR | $300,519 | 0.01% | 885 | Common | SOLE |
| 46434V449 | IMTM | ISHARES TR | $288,989 | 0.01% | 6,325 | Common | SOLE |
| 464288661 | IEI | ISHARES TR | $285,459 | 0.01% | 2,397 | Common | SOLE |
| 172908105 | CTAS | CINTAS CORP | $276,359 | 0.01% | 1,240 | Common | SOLE |
| 922908736 | VUG | VANGUARD INDEX FDS | $271,801 | 0.01% | 620 | Common | SOLE |
| 125523100 | CI | THE CIGNA GROUP | $267,439 | 0.01% | 809 | Common | SOLE |
| 883556102 | TMO | THERMO FISHER SCIENTIFIC INC | $266,387 | 0.01% | 657 | Common | SOLE |
| 57636Q104 | MA | MASTERCARD INCORPORATED | $265,798 | 0.01% | 473 | Common | SOLE |
| 46435G243 | SUSB | ISHARES TR | $251,549 | 0.01% | 9,994 | Common | SOLE |
| 718172109 | PM | PHILIP MORRIS INTL INC | $243,872 | 0.01% | 1,339 | Common | SOLE |
| 097023105 | BA | BOEING CO | $241,798 | 0.01% | 1,154 | Common | SOLE |
| 808524888 | SCHC | SCHWAB STRATEGIC TR | $236,687 | 0.01% | 5,557 | Common | SOLE |
| 91324P102 | UNH | UNITEDHEALTH GROUP INC | $231,794 | 0.01% | 743 | Common | SOLE |
| 55261F104 | MTB | M & T BK CORP | $230,266 | 0.01% | 1,187 | Common | SOLE |
| 33740U786 | XDEC | FIRST TR EXCHNG TRADED FD VI | $226,221 | 0.01% | 5,825 | Common | SOLE |
| 464288687 | PFF | ISHARES TR | $224,547 | 0.01% | 7,319 | Common | SOLE |
| 75513E101 | RTX | RTX CORPORATION | $223,557 | 0.01% | 1,531 | Common | SOLE |
| 464287234 | EEM | ISHARES TR | $212,980 | 0.01% | 4,415 | Common | SOLE |
| 808524607 | SCHA | SCHWAB STRATEGIC TR | $212,722 | 0.01% | 8,408 | Common | SOLE |
| 389638107 | ETHE | GRAYSCALE ETHEREUM TRUST ETF | $210,102 | 0.01% | 10,072 | Common | SOLE |
| 21036P108 | STZ | CONSTELLATION BRANDS INC | $204,441 | 0.01% | 1,257 | Common | SOLE |
| 46435U515 | IBDT | ISHARES TR | $203,614 | 0.01% | 8,010 | Common | SOLE |
| 46435UAA9 | IBDS | ISHARES TR | $202,655 | 0.01% | 8,350 | Common | SOLE |
| 46435GAA0 | IBDR | ISHARES TR | $201,881 | 0.01% | 8,325 | Common | SOLE |
| 46434VBD1 | IBDQ | ISHARES TR | $201,440 | 0.01% | 8,000 | Common | SOLE |
| 67061W104 | NAZ | NUVEEN ARIZONA QLTY MUN INC | $139,579 | 0.00% | 11,940 | Common | SOLE |
| 09254E103 | MYI | BLACKROCK MUNIYIELD QUALITY | $123,782 | 0.00% | 11,800 | Common | SOLE |
| 64124P101 | NBH | NEUBERGER BERMAN MUN FD INC | $115,394 | 0.00% | 11,739 | Common | SOLE |
| 09254F100 | MQY | BLACKROCK MUNIYILD QULT FD I | $112,400 | 0.00% | 10,117 | Common | SOLE |
| 46131M106 | VGM | INVESCO TR INVT GRADE MUNS | $104,390 | 0.00% | 11,000 | Common | SOLE |
| 12482W408 | YCBD | CBDMD INC | $61,100 | 0.00% | 68,513 | Common | SOLE |
| 92921W300 | VUZI | VUZIX CORP | $29,200 | 0.00% | 10,000 | 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.