With the recognition that the cash is being steadily debased by inflation. But the cash gives you the option to buy the stocks and bonds after they get demolished. Set up a ladder of T-bills. Ten-year Tips are cheapening along with ten-year notes. Real rate is at zero or so now....if it gets to 1% they should become part of your portfolio, IMO.
Shadow mentions REITS. They historically perform well in inflationary situations. But I think you have to be careful to buy REITS that actually own properties rather than mortgage securities. Avoid the type of REIT in the attached link.
Link: https://www.kiplinger.com/investing/reits/604061/mortgage-reits-for-yield-hungry-investors