Q4 2024 · 13F-HR
First Western Trust Bankholdings as filed
Filed 2025-02-13 · accession 0001513189-25-000009
$2.17B
Reported value
196
Positions
2024-12-31
Period end
Holdings as filed
| CUSIP | Ticker | Issuer | Value | % port. | Shares | Class | Voting |
|---|---|---|---|---|---|---|---|
| 863667101 | SYK | STRYKER CORPORATION | $1.26B | 58.1% | 3,495,906 | Common | SOLE |
| 922908363 | VOO | VANGUARD INDEX FDS | $147.7M | 6.82% | 274,082 | Common | SOLE |
| 464287499 | IWR | ISHARES TR | $97.3M | 4.49% | 1,100,618 | Common | SOLE |
| 78462F103 | SPY | SPDR S&P 500 ETF TR | $66.6M | 3.08% | 113,621 | Common | SOLE |
| 464287655 | IWM | ISHARES TR | $52.3M | 2.41% | 236,491 | Common | SOLE |
| 46137V357 | RSP | INVESCO EXCHANGE TRADED FD TR | $41.3M | 1.91% | 235,638 | Common | SOLE |
| 922908769 | VTI | VANGUARD INDEX FDS | $39.1M | 1.81% | 134,895 | Common | NONE |
| 921943858 | VEA | VANGUARD TAX-MANAGED FDS | $33.0M | 1.53% | 690,609 | Common | SOLE |
| 037833100 | AAPL | APPLE INC | $28.9M | 1.33% | 115,349 | Common | SOLE |
| 594918104 | MSFT | MICROSOFT CORP | $24.0M | 1.11% | 56,827 | Common | SOLE |
| 02079K305 | GOOGL | ALPHABET INC | $14.4M | 0.66% | 75,914 | Common | SOLE |
| 68389X105 | ORCL | ORACLE CORP | $13.5M | 0.62% | 81,133 | Common | SOLE |
| 464287507 | IJH | ISHARES TR | $12.6M | 0.58% | 201,667 | Common | SOLE |
| 980745103 | WWD | WOODWARD INC | $11.7M | 0.54% | 70,023 | Common | SOLE |
| 22160K105 | COST | COSTCO WHSL CORP NEW | $11.6M | 0.53% | 12,620 | Common | SOLE |
| 46625H100 | JPM | JPMORGAN CHASE & CO. | $11.0M | 0.51% | 46,038 | Common | SOLE |
| 92826C839 | V | VISA INC | $10.4M | 0.48% | 32,991 | Common | SOLE |
| 872540109 | TJX | TJX COS INC NEW | $9.9M | 0.46% | 82,168 | Common | SOLE |
| 437076102 | HD | HOME DEPOT INC | $8.4M | 0.39% | 21,696 | Common | SOLE |
| 580135101 | MCD | MCDONALDS CORP | $8.4M | 0.39% | 28,914 | Common | SOLE |
| 464287614 | IWF | ISHARES TR | $7.2M | 0.33% | 17,919 | Common | SOLE |
| 882508104 | TXN | TEXAS INSTRS INC | $7.1M | 0.33% | 37,813 | Common | SOLE |
| 337738108 | FISV | FISERV INC | $7.0M | 0.32% | 33,838 | Common | SOLE |
| G1151C101 | ACN | ACCENTURE PLC IRELAND | $6.9M | 0.32% | 19,565 | Common | SOLE |
| 92206C664 | VTWO | VANGUARD SCOTTSDALE FDS | $6.2M | 0.29% | 69,385 | Common | SOLE |
| 464287465 | EFA | ISHARES TR | $6.1M | 0.28% | 80,983 | Common | SOLE |
| 883556102 | TMO | THERMO FISHER SCIENTIFIC INC | $5.7M | 0.26% | 11,020 | Common | SOLE |
| 806857108 | SLB | SCHLUMBERGER LTD | $5.7M | 0.26% | 147,637 | Common | SOLE |
| 461202103 | INTU | INTUIT | $5.5M | 0.26% | 8,801 | Common | SOLE |
| 278865100 | ECL | ECOLAB INC | $5.4M | 0.25% | 22,987 | Common | SOLE |
| 235851102 | DHR | DANAHER CORPORATION | $5.4M | 0.25% | 23,454 | Common | SOLE |
| 438516106 | HON | HONEYWELL INTL INC | $5.2M | 0.24% | 23,158 | Common | SOLE |
| 375558103 | GILD | GILEAD SCIENCES INC | $5.2M | 0.24% | 56,093 | Common | SOLE |
| 002824100 | ABT | ABBOTT LABS | $5.1M | 0.23% | 44,799 | Common | SOLE |
| 776696106 | ROP | ROPER TECHNOLOGIES INC | $5.0M | 0.23% | 9,698 | Common | SOLE |
| 67066G104 | NVDA | NVIDIA CORPORATION | $4.9M | 0.22% | 36,221 | Common | SOLE |
| 571903202 | MAR | MARRIOTT INTL INC NEW | $4.8M | 0.22% | 17,093 | Common | SOLE |
| 49271V100 | KDP | KEURIG DR PEPPER INC | $4.6M | 0.21% | 143,492 | Common | SOLE |
| 09290D101 | BLK | BLACKROCK INC | $4.5M | 0.21% | 4,410 | Common | SOLE |
| 78409V104 | SPGI | S&P GLOBAL INC | $4.5M | 0.21% | 8,972 | Common | SOLE |
| 25434V500 | DFAS | DIMENSIONAL ETF TRUST | $4.0M | 0.18% | 60,696 | Common | SOLE |
| 97717W570 | EZM | WISDOMTREE TR | $3.9M | 0.18% | 61,904 | Common | NONE |
| 97717W562 | EES | WISDOMTREE TR | $3.8M | 0.17% | 69,790 | Common | NONE |
| 464287804 | IJR | ISHARES TR | $3.7M | 0.17% | 32,198 | Common | SOLE |
| 45866F104 | ICE | INTERCONTINENTAL EXCHANGE INC | $3.7M | 0.17% | 24,894 | Common | SOLE |
| 922042858 | VWO | VANGUARD INTL EQUITY INDEX FDS | $3.5M | 0.16% | 78,656 | Common | NONE |
| 084670702 | BRK/B | BERKSHIRE HATHAWAY INC DEL | $3.4M | 0.16% | 7,449 | Common | SOLE |
| 03027X100 | AMT | AMERICAN TOWER CORP NEW | $3.4M | 0.15% | 18,290 | Common | SOLE |
| 464287200 | IVV | ISHARES TR | $3.3M | 0.15% | 5,563 | Common | SOLE |
| 34959J108 | FTV | FORTIVE CORP | $3.3M | 0.15% | 43,619 | Common | SOLE |
| 254687106 | DIS | DISNEY WALT CO | $3.3M | 0.15% | 29,297 | Common | SOLE |
| 464287622 | IWB | ISHARES TR | $3.2M | 0.15% | 9,933 | Common | SOLE |
| 00724F101 | ADBE | ADOBE INC | $3.1M | 0.14% | 6,952 | Common | SOLE |
| 65339F101 | NEE | NEXTERA ENERGY INC | $2.8M | 0.13% | 39,606 | Common | SOLE |
| 478160104 | JNJ | JOHNSON & JOHNSON | $2.8M | 0.13% | 19,455 | Common | SOLE |
| 713448108 | PEP | PEPSICO INC | $2.7M | 0.12% | 17,796 | Common | SOLE |
| 464287309 | IVW | ISHARES TR | $2.7M | 0.12% | 26,131 | Common | SOLE |
| 502431109 | LHX | L3HARRIS TECHNOLOGIES INC | $2.6M | 0.12% | 12,347 | Common | SOLE |
| 191216100 | KO | COCA COLA CO | $2.3M | 0.11% | 36,669 | Common | SOLE |
| 02079K107 | GOOG | ALPHABET INC | $2.3M | 0.10% | 11,902 | Common | SOLE |
| 742718109 | PG | PROCTER AND GAMBLE CO | $2.2M | 0.10% | 13,390 | Common | SOLE |
| 33751L105 | MYFW | FIRST WESTN FINL INC | $2.2M | 0.10% | 111,675 | Common | SOLE |
| 291011104 | EMR | EMERSON ELEC CO | $2.2M | 0.10% | 17,549 | Common | SOLE |
| 70450Y103 | PYPL | PAYPAL HLDGS INC | $2.2M | 0.10% | 25,413 | Common | SOLE |
| 499049104 | KNX | KNIGHT-SWIFT TRANSN HLDGS INC | $2.1M | 0.10% | 40,177 | Common | SOLE |
| 464287598 | IWD | ISHARES TR | $2.0M | 0.09% | 10,883 | Common | SOLE |
| 931142103 | WMT | WALMART INC | $2.0M | 0.09% | 21,869 | Common | SOLE |
| 009158106 | APD | AIR PRODS & CHEMS INC | $2.0M | 0.09% | 6,746 | Common | SOLE |
| 110122108 | BMY | BRISTOL-MYERS SQUIBB CO | $1.9M | 0.09% | 33,844 | Common | SOLE |
| 30231G102 | XOM | EXXON MOBIL CORP | $1.7M | 0.08% | 15,752 | Common | SOLE |
| 743315103 | PGR | PROGRESSIVE CORP | $1.6M | 0.08% | 6,871 | Common | SOLE |
| 369604301 | GE | GE AEROSPACE | $1.6M | 0.07% | 9,609 | Common | SOLE |
| 98956P102 | ZBH | ZIMMER BIOMET HOLDINGS INC | $1.5M | 0.07% | 14,610 | Common | SOLE |
| 539830109 | LMT | LOCKHEED MARTIN CORP | $1.4M | 0.07% | 2,920 | Common | SOLE |
| 464286772 | EWY | ISHARES INC | $1.4M | 0.06% | 26,900 | Common | NONE |
| 084670108 | BRK/A | BERKSHIRE HATHAWAY INC DEL | $1.4M | 0.06% | 2 | Common | SOLE |
| 98389B100 | XEL | XCEL ENERGY INC | $1.3M | 0.06% | 19,621 | Common | SOLE |
| 023135106 | AMZN | AMAZON COM INC | $1.3M | 0.06% | 5,904 | Common | SOLE |
| 518439104 | EL | LAUDER ESTEE COS INC | $1.3M | 0.06% | 17,002 | Common | SOLE |
| 75513E101 | RTX | RTX CORPORATION | $1.3M | 0.06% | 10,981 | Common | SOLE |
| 57636Q104 | MA | MASTERCARD INCORPORATED | $1.2M | 0.05% | 2,186 | Common | SOLE |
| 922908553 | VNQ | VANGUARD INDEX FDS | $1.1M | 0.05% | 12,778 | Common | SOLE |
| 025816109 | AXP | AMERICAN EXPRESS CO | $1.1M | 0.05% | 3,819 | Common | SOLE |
| 281020107 | EIX | EDISON INTL | $1.1M | 0.05% | 14,119 | Common | SOLE |
| 532457108 | LLY | ELI LILLY & CO | $1.1M | 0.05% | 1,409 | Common | SOLE |
| 464287721 | IYW | ISHARES TR | $1.1M | 0.05% | 6,700 | Common | SOLE |
| 58933Y105 | MRK | MERCK & CO INC | $976,396 | 0.05% | 9,815 | Common | SOLE |
| G29183103 | ETN | EATON CORP PLC | $957,445 | 0.04% | 2,885 | Common | SOLE |
| 00287Y109 | ABBV | ABBVIE INC | $935,591 | 0.04% | 5,265 | Common | SOLE |
| 30303M102 | META | META PLATFORMS INC | $896,416 | 0.04% | 1,531 | Common | SOLE |
| 464286806 | EWG | ISHARES INC | $882,528 | 0.04% | 27,735 | Common | NONE |
| 718172109 | PM | PHILIP MORRIS INTL INC | $840,645 | 0.04% | 6,985 | Common | SOLE |
| 459200101 | IBM | INTERNATIONAL BUSINESS MACHS | $828,100 | 0.04% | 3,767 | Common | SOLE |
| 25434V807 | DFIV | DIMENSIONAL ETF TRUST | $817,033 | 0.04% | 23,028 | Common | SOLE |
| 36828A101 | GEV | GE VERNOVA INC | $813,444 | 0.04% | 2,473 | Common | SOLE |
| 053015103 | ADP | AUTOMATIC DATA PROCESSING INC | $802,080 | 0.04% | 2,740 | Common | SOLE |
| 654106103 | NKE | NIKE INC | $794,459 | 0.04% | 10,499 | Common | SOLE |
| 464288273 | SCZ | ISHARES TR | $792,241 | 0.04% | 13,041 | Common | SOLE |
| 125523100 | CI | THE CIGNA GROUP | $783,961 | 0.04% | 2,839 | Common | SOLE |
| 11135F101 | AVGO | BROADCOM INC | $762,754 | 0.04% | 3,290 | Common | NONE |
| 893641100 | TDG | TRANSDIGM GROUP INC | $757,833 | 0.04% | 598 | Common | NONE |
| 464287481 | IWP | ISHARES TR | $716,898 | 0.03% | 5,656 | Common | SOLE |
| 464287408 | IVE | ISHARES TR | $699,003 | 0.03% | 3,662 | Common | SOLE |
| 166764100 | CVX | CHEVRON CORP NEW | $694,798 | 0.03% | 4,797 | Common | SOLE |
| 14448C104 | CARR | CARRIER GLOBAL CORPORATION | $680,689 | 0.03% | 9,972 | Common | SOLE |
| 194162103 | CL | COLGATE PALMOLIVE CO | $675,552 | 0.03% | 7,431 | Common | SOLE |
| 88579Y101 | MMM | 3M CO | $672,301 | 0.03% | 5,208 | Common | SOLE |
| 808513105 | SCHW | SCHWAB CHARLES CORP | $669,938 | 0.03% | 9,052 | Common | SOLE |
| 747525103 | QCOM | QUALCOMM INC | $667,786 | 0.03% | 4,347 | Common | SOLE |
| 91324P102 | UNH | UNITEDHEALTH GROUP INC | $657,618 | 0.03% | 1,300 | Common | SOLE |
| 680665205 | OLN | OLIN CORP | $645,141 | 0.03% | 19,087 | Common | SOLE |
| 89214P109 | TOWN | TOWNEBANK PORTSMOUTH VA | $620,846 | 0.03% | 18,228 | Common | NONE |
| 808524300 | SCHG | SCHWAB STRATEGIC TR | $611,022 | 0.03% | 21,924 | Common | SOLE |
| 717081103 | PFE | PFIZER INC | $600,055 | 0.03% | 22,618 | Common | SOLE |
| 78467Y107 | MDY | SPDR S&P MIDCAP 400 ETF TR | $540,531 | 0.02% | 949 | Common | SOLE |
| 58155Q103 | MCK | MCKESSON CORP | $530,586 | 0.02% | 931 | Common | NONE |
| 988498101 | YUM | YUM BRANDS INC | $522,687 | 0.02% | 3,896 | Common | SOLE |
| 25434V401 | DFUS | DIMENSIONAL ETF TRUST | $509,618 | 0.02% | 7,994 | Common | SOLE |
| 464287473 | IWS | ISHARES TR | $504,807 | 0.02% | 3,903 | Common | SOLE |
| 922908637 | VV | VANGUARD INDEX FDS | $490,584 | 0.02% | 1,819 | Common | SOLE |
| 532275104 | LWLG | LIGHTWAVE LOGIC INC | $490,556 | 0.02% | 233,598 | Common | SOLE |
| 464287887 | IJT | ISHARES TR | $484,218 | 0.02% | 3,577 | Common | SOLE |
| 921908844 | VIG | VANGUARD SPECIALIZED FUNDS | $473,713 | 0.02% | 2,419 | Common | SOLE |
| 907818108 | UNP | UNION PAC CORP | $471,815 | 0.02% | 2,069 | Common | SOLE |
| 68902V107 | OTIS | OTIS WORLDWIDE CORP | $458,420 | 0.02% | 4,950 | Common | SOLE |
| 032654105 | ADI | ANALOG DEVICES INC | $448,716 | 0.02% | 2,112 | Common | SOLE |
| 886364876 | JSTC | TIDAL ETF TR | $444,753 | 0.02% | 24,224 | Common | NONE |
| 464287630 | IWN | ISHARES TR | $438,170 | 0.02% | 2,669 | Common | SOLE |
| 09254E103 | MYI | BLACKROCK MUNIYIELD QUALITY FD | $433,000 | 0.02% | 39,221 | Common | SOLE |
| 25434V724 | DFUV | DIMENSIONAL ETF TRUST | $426,427 | 0.02% | 10,421 | Common | SOLE |
| 02209S103 | MO | ALTRIA GROUP INC | $422,974 | 0.02% | 8,089 | Common | SOLE |
| 969457100 | WMB | WILLIAMS COS INC | $421,595 | 0.02% | 7,790 | Common | SOLE |
| 149123101 | CAT | CATERPILLAR INC | $409,193 | 0.02% | 1,128 | Common | SOLE |
| 036752103 | ELV | ELEVANCE HEALTH INC | $396,567 | 0.02% | 1,075 | Common | SOLE |
| 855244109 | SBUX | STARBUCKS CORP | $393,561 | 0.02% | 4,313 | Common | SOLE |
| 26441C204 | DUK | DUKE ENERGY CORP NEW | $393,359 | 0.02% | 3,651 | Common | SOLE |
| 001055102 | AFL | AFLAC INC | $388,624 | 0.02% | 3,757 | Common | SOLE |
| 74933W411 | ZTEN | RBB FD INC | $386,697 | 0.02% | 7,808 | Common | SOLE |
| 053332102 | AZO | AUTOZONE INC | $384,240 | 0.02% | 120 | Common | SOLE |
| 464288869 | IWC | ISHARES TR | $384,230 | 0.02% | 2,947 | Common | SOLE |
| 94106L109 | WM | WASTE MGMT INC DEL | $380,980 | 0.02% | 1,888 | Common | SOLE |
| 46429B267 | GOVT | ISHARES TR | $378,825 | 0.02% | 16,485 | Common | SOLE |
| 17275R102 | CSCO | CISCO SYS INC | $377,637 | 0.02% | 6,379 | Common | SOLE |
| 88162G103 | TTEK | TETRA TECH INC NEW | $374,098 | 0.02% | 9,390 | Common | NONE |
| 046353108 | AZNN | ASTRAZENECA PLC | $372,023 | 0.02% | 5,678 | Common | NONE |
| 46090E103 | QQQ | INVESCO QQQ TR | $365,530 | 0.02% | 715 | Common | SOLE |
| 682680103 | OKE | ONEOK INC NEW | $365,054 | 0.02% | 3,636 | Common | SOLE |
| 452308109 | ITW | ILLINOIS TOOL WKS INC | $354,477 | 0.02% | 1,398 | Common | SOLE |
| G16252101 | BIP | BROOKFIELD INFRAST PARTNERS LP | $353,505 | 0.02% | 11,120 | Common | NONE |
| 254709108 | DFSEUR | DISCOVER FINL SVCS | $350,444 | 0.02% | 2,023 | Common | SOLE |
| 75886F107 | REGN | REGENERON PHARMACEUTICALS | $338,357 | 0.02% | 475 | Common | SOLE |
| 609207105 | MDLZ | MONDELEZ INTL INC | $337,295 | 0.02% | 5,647 | Common | SOLE |
| 949746101 | WMT2 | WELLS FARGO CO NEW | $335,536 | 0.02% | 4,777 | Common | SOLE |
| 969904101 | WSM | WILLIAMS SONOMA INC | $327,213 | 0.02% | 1,767 | Common | NONE |
| 464287648 | IWO | ISHARES TR | $325,986 | 0.02% | 1,133 | Common | SOLE |
| 458140100 | INTC | INTEL CORP | $317,332 | 0.01% | 15,827 | Common | SOLE |
| 244199105 | DE | DEERE & CO | $303,369 | 0.01% | 716 | Common | SOLE |
| 808524409 | SCHV | SCHWAB STRATEGIC TR | $294,695 | 0.01% | 11,304 | Common | SOLE |
| 87612E106 | TGT | TARGET CORP | $282,661 | 0.01% | 2,091 | Common | SOLE |
| 464287168 | DVY | ISHARES TR | $277,809 | 0.01% | 2,116 | Common | SOLE |
| 09857L108 | BKNG | BOOKING HOLDINGS INC | $273,263 | 0.01% | 55 | Common | SOLE |
| 464287879 | IJS | ISHARES TR | $270,330 | 0.01% | 2,489 | Common | SOLE |
| 744573106 | PEG | PUBLIC SVC ENTERPRISE GRP INC | $267,411 | 0.01% | 3,165 | Common | SOLE |
| 46137V142 | PHO | INVESCO EXCHANGE TRADED FD TR | $263,160 | 0.01% | 4,000 | Common | SOLE |
| 20030N101 | CMCSA | COMCAST CORP NEW | $262,748 | 0.01% | 7,001 | Common | SOLE |
| 922908629 | VO | VANGUARD INDEX FDS | $255,150 | 0.01% | 966 | Common | SOLE |
| 92206C649 | VTWV | VANGUARD SCOTTSDALE FDS | $251,332 | 0.01% | 1,738 | Common | SOLE |
| 92343V104 | VZ | VERIZON COMMUNICATIONS INC | $248,258 | 0.01% | 6,208 | Common | SOLE |
| 655663102 | NDSN | NORDSON CORP | $242,300 | 0.01% | 1,158 | Common | NONE |
| 81369Y803 | XLK | SELECT SECTOR SPDR TR | $242,286 | 0.01% | 1,042 | Common | SOLE |
| 370334104 | GIS | GENERAL MLS INC | $241,880 | 0.01% | 3,793 | Common | SOLE |
| 693506107 | PPG | PPG INDS INC | $238,542 | 0.01% | 1,997 | Common | SOLE |
| G6683N103 | NU | NU HLDGS LTD | $237,285 | 0.01% | 22,904 | Common | SOLE |
| 38141G104 | GS | GOLDMAN SACHS GROUP INC | $231,911 | 0.01% | 405 | Common | SOLE |
| 78463V107 | GLD | SPDR GOLD TR | $231,718 | 0.01% | 957 | Common | SOLE |
| 097023105 | BA | BOEING CO | $230,100 | 0.01% | 1,300 | Common | SOLE |
| 00206R102 | T | AT&T INC | $228,520 | 0.01% | 10,036 | Common | SOLE |
| 031162100 | AMGN | AMGEN INC | $228,321 | 0.01% | 876 | Common | SOLE |
| 911312106 | UPS | UNITED PARCEL SERVICE INC | $227,484 | 0.01% | 1,804 | Common | SOLE |
| 81369Y605 | XLF | SELECT SECTOR SPDR TR | $227,103 | 0.01% | 4,699 | Common | SOLE |
| 260003108 | DOV | DOVER CORP | $226,621 | 0.01% | 1,208 | Common | NONE |
| 29084Q100 | EME | EMCOR GROUP INC | $226,042 | 0.01% | 498 | Common | SOLE |
| 874039100 | TSM | TAIWAN SEMICONDUCTOR MFG LTD | $223,954 | 0.01% | 1,134 | Common | SOLE |
| 36266G107 | GEHC | GE HEALTHCARE TECHNOLOGIES INC | $221,015 | 0.01% | 2,827 | Common | SOLE |
| 701094104 | PH | PARKER-HANNIFIN CORP | $218,794 | 0.01% | 344 | Common | SOLE |
| 126650100 | CVS | CVS HEALTH CORP | $218,659 | 0.01% | 4,871 | Common | NONE |
| 20825C104 | COP | CONOCOPHILLIPS | $216,191 | 0.01% | 2,180 | Common | SOLE |
| 902973304 | USB | US BANCORP DEL | $215,522 | 0.01% | 4,506 | Common | SOLE |
| 88160R101 | TSLA | TESLA INC | $212,824 | 0.01% | 527 | Common | NONE |
| 30225T102 | EXR | EXTRA SPACE STORAGE INC | $210,936 | 0.01% | 1,410 | Common | SOLE |
| 11271J107 | BN | BROOKFIELD CORP | $207,912 | 0.01% | 3,619 | Common | NONE |
| 060505104 | BAC | BANK AMERICA CORP | $207,620 | 0.01% | 4,724 | Common | NONE |
| 89417E109 | TRV | TRAVELERS COMPANIES INC | $205,720 | 0.01% | 854 | Common | SOLE |
| 921910873 | MGC | VANGUARD WORLD FD | $203,728 | 0.01% | 958 | Common | SOLE |
| 464287606 | IJK | ISHARES TR | $203,683 | 0.01% | 2,240 | Common | SOLE |
| 22544F103 | DHY | CREDIT SUISSE HIGH YIELD BD FD | $107,000 | 0.00% | 50,000 | 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.