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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	CIBC Private Wealth Group Atlanta, Georgia	$545M	+$1.5M	7	0.98%	Increased
52	Qube Research & Technologies (QRT) London, United Kingdom	$537M	+$33.8M	7	0.79%	Increased
53	Yacktman Asset Management Austin, Texas	$537M	-$16.4M	3	5.51%	Reduced
54	Janus Henderson Group London,	$534M	+$16.9M	6	0.27%	Increased
55	HSBC Holdings London, United Kingdom	$532M	-$30.4M	6	0.31%	Reduced
56	RhumbLine Advisers Boston, Massachusetts	$528M	-$18.1M	7	0.48%	Reduced
57	VanEck Associates New York	$482M	-$227M	6	0.6%	Reduced
58	California State Teachers Retirement System (CalSTRS) West Sacramento, California	$478M	+$257K	7	0.56%	Increased
59	Bank of Montreal Toronto, Ontario, Canada	$450M	+$61.1M	7	0.2%	Increased
60	LPL Financial San Diego, California	$449M	+$15.6M	7	0.2%	Increased
61	Amundi Paris, France	$446M	+$97.6M	4	0.16%	Increased
62	Boston Partners Boston, Massachusetts	$440M	+$22.7M	3	0.52%	Increased
63	Neuberger Berman Group New York	$436M	+$125M	6	0.34%	Increased
64	American Century Companies Kansas City, Missouri	$431M	+$30.7M	6	0.25%	Increased
65	Mitsubishi UFJ Asset Management Tokyo, Japan	$424M	+$36.4M	6	0.45%	Increased
66	Macquarie Group Sydney, NSW 2000, Australia	$422M	-$34.3M	5	0.46%	Reduced
67	Two Sigma Advisers New York	$422M	+$193M	4	0.99%	Increased
68	Balyasny Asset Management Chicago, Illinois	$399M	+$205M	6	0.65%	Increased
69	PNC Financial Services Group Pittsburgh, Pennsylvania	$396M	-$4.53M	8	0.25%	Reduced
70	Principal Financial Group Des Moines, Iowa	$396M	+$7.74M	7	0.22%	Increased
71	Corient Private Wealth Miami, Florida	$380M	+$33M	7	0.59%	Increased
72	VOYA Investment Management Atlanta, Georgia	$374M	-$203M	7	0.39%	Reduced
73	Prudential Financial Newark, New Jersey	$367M	+$3.6M	7	0.52%	Increased
74	AQR Capital Management Greenwich, Connecticut	$366M	+$72M	7	0.51%	Increased
75	New York State Common Retirement Fund Albany, New York	$365M	-$25.8M	7	0.49%	Reduced