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Munitions Restocking

Munitions restocking covers the artillery, missiles, and propellant being replaced after inventories were drawn down faster than they could be built. Capacity expansion here is slow and capital intensive.

11 stocks

#	Name	Holding	Trade Value	Theme Stocks	% of Portfolio	Status
26	Norges Bank Oslo, Norway	$907M	-$39.6M	5	0.43%	Reduced
27	Fisher Asset Management Camas, Washington	$870M	-$1.37M	2	1.61%	Reduced
28	UBS Group Zurich, Switzerland	$869M	+$36.5M	9	0.55%	Increased
29	Macquarie Group Sydney, NSW 2000, Australia	$856M	-$45.3M	5	1.68%	Reduced
30	TIAA CREF Investment Management New York	$845M	-$72.5M	8	0.65%	Reduced
31	Dimensional Fund Advisors Austin, Texas	$825M	-$4.11M	9	0.47%	Reduced
32	Capital Research Global Investors Los Angeles, California	$817M	+$2.85M	1	0.28%	Increased
33	Deutsche Bank Frankfurt Am Main Ge, Germany	$748M	-$222M	9	0.53%	Reduced
34	Goldman Sachs New York	$707M	-$99.9M	8	0.23%	Reduced
35	First Pacific Advisors El Segundo, California	$704M	+$47.3M	1	5.93%	Increased
36	Invesco Atlanta, Georgia	$696M	+$23M	9	0.26%	Increased
37	SAM Southeastern Asset Management Memphis, Tennessee	$684M	-$44.1M	1	6.98%	Reduced
38	Ameriprise Minneapolis, Minnesota	$683M	-$78.8M	8	0.4%	Reduced
39	London Company of Virginia Richmond, Virginia	$676M	-$3.1M	2	5.21%	Reduced
40	BlackRock Advisors Wilmington, Delaware	$619M	-$108M	8	0.63%	Reduced
41	Capital International Investors Los Angeles, California	$607M	+$139M	2	0.89%	Increased
42	Legal & General Group London, United Kingdom	$600M	+$9.85M	8	0.63%	Increased
43	Lone Pine Capital Greenwich, Connecticut	$588M	-$127M	1	2.71%	Reduced
44	PNC Financial Services Group Pittsburgh, Pennsylvania	$574M	-$50.4M	8	0.67%	Reduced
45	LSV Asset Management Chicago, Illinois	$568M	-$24.8M	7	1.16%	Reduced
46	Allianz Asset Management Munich, Germany	$547M	-$79M	5	0.58%	Reduced
47	Eaton Vance Management Boston, Massachusetts	$533M	-$28.5M	5	1.55%	Reduced
48	Burgundy Asset Management Toronto, Ontario, Canada	$532M	+$45.7M	2	5.31%	Increased
49	First Eagle Investment Management New York	$521M	-$115M	4	1.33%	Reduced
50	BlackRock Investment Management Wilmington, Delaware	$474M	-$54.3M	8	0.6%	Reduced