题目内容（请给出正确答案）

[单选题]

Based on their relative degrees of risk tolerance（）.

A.investors will hold varying amounts of the risky asset in their portfolios.

B.all investors will have the same portfolio asset allocations.

C.investors will hold varying amounts of the risk-free asset in their portfolios.

D.A and C.

E.none of the above.

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