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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	Dimensional Fund Advisors Austin, Texas	$1.11B	-$42.8M	9	0.58%	Reduced
27	Artisan Partners Milwaukee, Wisconsin	$1.07B	+$29.9M	2	2.29%	Increased
28	Goldman Sachs New York	$1.03B	-$301M	9	0.36%	Reduced
29	Legal & General Group London, United Kingdom	$1.01B	+$47.1M	8	0.59%	Increased
30	Invesco Atlanta, Georgia	$1.01B	-$58.3M	9	0.42%	Reduced
31	Boston Partners Boston, Massachusetts	$937M	+$141M	4	1.86%	Increased
32	UBS Group Zurich, Switzerland	$831M	-$229M	9	0.39%	Reduced
33	Davis Selected Advisers Tucson, Arizona	$824M	+$156M	1	5.58%	Increased
34	AllianceBernstein Nashville, Tennessee	$789M	-$119M	9	0.57%	Reduced
35	Soroban Capital Partners New York	$693M	+$571M	2	12.71%	Increased
36	Macquarie Group Sydney, NSW 2000, Australia	$672M	-$176M	7	1.38%	Reduced
37	Royal Bank of Canada Toronto, Ontario, Canada	$602M	-$56.9M	9	0.29%	Reduced
38	Parametric Portfolio Associates Seattle, Washington	$585M	-$3.75M	9	0.54%	Reduced
39	Credit Suisse Zurich, Switzerland	$574M	+$68M	9	0.5%	Increased
40	Putnam Investments Boston, Massachusetts	$543M	+$32.2M	4	1.42%	Increased
41	Neuberger Berman Group New York	$525M	-$33.6M	4	0.8%	Reduced
42	Citadel Advisors Miami, Florida	$525M	-$782M	9	0.24%	Reduced
43	PNC Financial Services Group Pittsburgh, Pennsylvania	$490M	-$5.69M	9	0.62%	Reduced
44	UBS AM Chicago, Illinois	$484M	+$15.9M	8	0.35%	Increased
45	Swiss National Bank Zurich, Switzerland	$474M	+$112M	7	0.5%	Increased
46	Brown Advisory Baltimore, Maryland	$471M	+$184M	3	1.44%	Increased
47	Fisher Asset Management Camas, Washington	$460M	+$7.43M	4	0.57%	Increased
48	Deutsche Bank Frankfurt Am Main Ge, Germany	$459M	-$310M	9	0.41%	Reduced
49	Manulife (Manufacturers Life Insurance) Canada, Ontario, Canada	$457M	+$29.7M	8	0.51%	Increased
50	Burgundy Asset Management Toronto, Ontario, Canada	$449M	+$8.23M	2	6.09%	Increased