 If the holding came about by permissible and title-conferring modes of action, the possessor will be entitled to it. If the holding came about by modes of action that are not permissible (or are permissible but not title-conferring) the possessor will not be entitled to it. Thus, entitlements are historical. Individual A will have an entitlement to holding H if and only if A’s possession of H has the right sort of history. This stance accords with the common-sense intuition that an agent’s acquiring economically valuable objects in certain ways—e.g., creating those objects out of unowned natural materials—generates entitlements for that agent over those objects while an agent’s acquiring objects in other ways—e.g., seizing those objects from another who has created them out of unowned natural materials—does not generate entitlements for that agent over those objects. A distribution of holdings across individuals will be just insofar as the particular holdings that constitute that distribution are just—rather than the justice of any particular individual’s holding depending on the holistic justice of the distribution of which it is a part.