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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
51	London Company of Virginia Richmond, Virginia	$468M	+$166M	2	2.81%	Increased
52	Neuberger Berman Group New York	$457M	-$101M	6	0.42%	Reduced
53	CIBC Private Wealth Group Atlanta, Georgia	$444M	-$66.1M	3	1.05%	Reduced
54	Millennium Management New York	$439M	+$166M	5	0.22%	Increased
55	Envestnet Asset Management Chicago, Illinois	$405M	+$57.6M	7	0.19%	Increased
56	RhumbLine Advisers Boston, Massachusetts	$402M	-$3.44M	7	0.47%	Reduced
57	Janus Henderson Group London,	$379M	-$173M	6	0.25%	Reduced
58	Amundi Paris, France	$354M	+$127M	6	0.17%	Increased
59	National Pension Service Jeonju-Si, Jeollabuk-Do, South Korea	$353M	+$15.8M	3	0.57%	Increased
60	New York State Common Retirement Fund Albany, New York	$351M	-$31.6M	7	0.5%	Reduced
61	Citigroup New York	$347M	+$14.9M	8	0.26%	Increased
62	California State Teachers Retirement System (CalSTRS) West Sacramento, California	$334M	-$22.3M	7	0.51%	Reduced
63	Two Sigma Investments New York	$315M	+$246M	6	0.85%	Increased
64	Manning & Napier Group Fairport, New York	$301M	+$68.9M	3	3.73%	Increased
65	HSBC Holdings London, United Kingdom	$297M	+$65.5M	6	0.31%	Increased
66	Bank of Montreal Toronto, Ontario, Canada	$290M	-$76.8M	6	0.1%	Reduced
67	PNC Financial Services Group Pittsburgh, Pennsylvania	$289M	-$11.9M	8	0.25%	Reduced
68	Principal Financial Group Des Moines, Iowa	$287M	-$29.7M	7	0.21%	Reduced
69	Truist Financial Charlotte, North Carolina	$283M	+$12.2M	6	0.47%	Increased
70	Prudential Financial Newark, New Jersey	$282M	-$95.6M	6	0.44%	Reduced
71	Bessemer Group Woodbridge, New Jersey	$280M	-$23.9M	7	0.62%	Reduced
72	Longview Partners St Peter Port, Guernsey	$265M	-$159M	1	1.88%	Reduced
73	FI Focused Investors Los Angeles, California	$259M	+$16.5M	3	9.22%	Increased
74	D.E. Shaw & Co New York	$258M	+$70.6M	6	0.27%	Increased
75	Diamond Hill Capital Management Columbus, Ohio	$252M	+$49M	1	1.22%	Increased