With the second debate now over, ThinkAdvisor looks at HillaryClinton's and Donald Trump's portfolios, which reveal that theirinvestment strategies are as divergent as their policy plans,according to financial disclosures filed with the Federal ElectionCommission.

Trump holds a jumbo conglomeration of stocks, mutual funds, ETFsand risky hedge fund investments. Clinton, in contrast, has themajority of her eggs in one basket: the Vanguard 500 Index Fund,and in cash. This is a far cry from speculating in cattle futures,which she dabbled in as a young lawyer 30-plus years ago.

ThinkAdvisor interviewed Daniel Auble, senior researcher at thenonpartisan Center for Responsive Politics, a nonprofitorganization that tracks money in U.S. politics and how itinfluences elections. Auble has analyzed both Clinton's and Trump'smost recent disclosures, covering Jan. 1, 2015, through mid-May2016, which they filed in May.

Presidential candidates are required to submit financialdisclosures—which do not include income tax returns—mainly todetect potential conflicts of interest if they were elected.

But “part of the issue with these reports,” Auble said, “is thatif something is being hidden, it's hard to know without a whole lotof investigation and getting leaked information.”

From studying Trump's securities portfolio, he clearly has “agoal to maximize his investment income,” Auble said. “He's invested[mainly] in his real estate development and has fingers in avariety of other businesses, but he also has stocks and funds.Compared to his overall wealth, though, his stock holdings arerelatively minor.”

As for the Democratic candidate, Auble said, “I assume theClintons' set-up has been deliberately kept simple—not investing inspecific companies or anything controversial because of their pastas public officials and ambitions for the future.”

He continued, “It isn't going to be a conflict of interest when[most] of their money is in cash and one of the most popular mutualfunds there is. Her portfolio seems set up almost as a proxy blindtrust, where there's no potential conflict at all.”

Trump has stated repeatedly—as in a press release the day hefiled his disclosure—that his net worth totals more than $10billion. However, his report doesn't confirm that, since on theform filers must check off broad dollar ranges, as opposed toindicating specific amounts. As reported, Trump's assets amount tosome $1.5 billion.

According to her disclosure, Clinton's net worth (excluding BillClinton's) is approximately $52 million. The report shows that herlargest assets are a cash account at JP Morgan ($5 million-$25million) and the Vanguard fund, which is valued in the same dollarrange.

Trump has about $25 million in cash, he reported. His checkingand savings accounts are held at JPMorgan Chase and Capital OneBank, and six other banks.

In addition to Treasury notes ($50,000-$100,000), Clinton ownsabout $2 million in insurance policies from Northwestern MutualLife, National Life Insurance and AIG Life Insurance.

Trump lists his stock and fund investments on 20 pages. Histhree family trusts are invested mostly in stocks and funds.

The Republican candidate reports positions in about 150individual equities, though only 11 are valued at $1 million ormore. He favors the technology and financial sectors, owning sharesin, for example, Apple, Microsoft, Energy Transfer Partners,Citigroup and JP Morgan.

“I've heard that Trump claims to have divested a bunch of hisspecific company stocks since this filing,” Auble noted.

Trump—who reported his brokers are Barclays Bank, Oppenheimer,Deutsche Bank and JP Morgan—is estimated to have about 60% of hisassets invested in bonds, including those of Bank of America,Citicorp and Morgan Stanley. He has millions of dollars in eighthedge funds, several of which are invested in high-yield bonds andtroubled enterprises. These include BlackRock's Obsidian, AGDiversified Credit Strategies, AG Eleven Partners and John PaulsonCredit Opportunities.

Trump also holds Treasury notes and Treasury bills, as well asbetween $100,000 and $250,000 in gold.

At 104 pages, Trump's report indeed trumps Clinton's inlength—hers is only 11 pages, five of which state only, “N/A” or“None.”

“Trump's report isn't the longest or [most] complicatedfinancial disclosure I've ever seen,”Auble said. “However, it's notso common for someone to have so many LLPs, in this case directlyowning all this commercial real estate and hotels, and so on. It'sa [very unusual] set-up in the structure of his investments andbusinesses. But I see nothing suspicious about the report. I haveno reason to believe it isn't accurate, to the best of theireffort.”

Trump reports assets of at least $687 million in real estate anddevelopment as owner of, for example, Trump Tower and 40 WallStreet in New York City, among numerous other properties.

He lists at least $550 million of assets in golf courses andresorts—such as Mar-a-Lago in Palm Beach, Florida and TrumpTurnberrry in Scotland—plus $100 million in hotels. He reportsaircraft worth at least $58 million and millions of dollars invineyards and entertainment businesses.

On 12 pages, Trump indicates a wide variety ofendeavors—ownerships, licensing of his name and other otherconnections—ranging from a poker venture to mattresses to magazinesto Trump-branded menswear. Many of these enterprises are in foreigncountries, including Dubai, Qatar, China, Japan, Korea, India,Istanbul, Egypt, South Africa, Brazil, the French West Indies andJeddah, in Saudi Arabia, where this past August he reportedlyestablished four corporations.

The self-described “King of Debt” has liabilities of at least$315 million, mostly in mortgages on his properties like TrumpTower and Trump National Doral, a hotel in Miami, Florida.

“Trump has a whole lot of debt—a bunch of mortgages,” Aublesaid. “This is a consequence of his business structure, which hashis personal and business fortunes kind of intertwined.”

Hillary Clinton reported no liabilities.

As for income, most of Trump's $615 million intake was derivedfrom his golf courses and resorts, along with condominium sales andrentals, he reported.

Trump also received commissions from his modeling managementbusiness and income from operating two attractions in New York'sCentral Park: Wollman ice skating rink (no connection to thisreporter) and the Carousel.

Clinton showed at least $172,500 in dividends and investmentincome. Royalties on her book, “Hard Choices,” brought in muchmore: $5 million-plus. She maintains a trust, ZFS Holdings,specifically for her books and paid speeches, the latter havinggenerated $1.5 million in income.

The disclosure covers speeches Clinton made prior to declaringher candidacy. After that, she accepted no paid speakingengagements.

Former president Bill Clinton earned royalties of up to $50,000for his book, “My Life,” and income from talks at firms includingUBS Wealth Management Americas and Oracle Corp., the reportsays.

Both Trump and the Clintons receive monthly pension income.Trump's is from the Screen Actors Guild-AFTRA; Bill Clintoncollects retirement benefits from the Arkansas Public EmployeeRetirement System Defined Benefit Plan.

Personal financial disclosures are required, under the Ethics inGovernment Act of 1978, for high-level elected officials andappointees. However, since filers are asked to disclose theirassets only in broad ranges, the reports fail to provide a completepicture, the Center for Responsive Politics notes on itswebsite, www.OpenSecrets.org.