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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
101	AWM Ashmore Wealth Management Wilmington, Delaware	$175M	$0	1	3.5%	Maintained
102	USAA United Services Automobile Association San Antonio, Texas	$172M	+$12.7K	4	0.67%	Increased
103	Neuberger Berman Group New York	$172M	-$22.8M	4	0.18%	Reduced
104	Lazard Asset Management New York	$157M	-$2.76M	2	0.35%	Reduced
105	BlackRock Japan Tokyo, Japan	$156M	-$4.95M	4	0.7%	Reduced
106	Atalanta Sosnoff Capital New York	$153M	+$21.4M	1	3.41%	Increased
107	D.E. Shaw & Co New York	$151M	-$9.18M	7	0.22%	Reduced
108	Sarasin & Partners London, United Kingdom	$147M	-$65.8M	1	2.09%	Reduced
109	Canada Life Winnipeg, Manitoba, Canada	$145M	+$7.76M	8	0.51%	Increased
110	Swiss National Bank Zurich, Switzerland	$142M	-$11.5M	9	0.56%	Reduced
111	Primecap Management Pasadena, California	$141M	+$117M	1	0.16%	Increased
112	Capital Guardian Trust Los Angeles, California	$137M	-$6.75M	3	0.93%	Reduced
113	KeyBank National Association Cleveland, Ohio	$136M	-$1.9M	4	1.05%	Reduced
114	Teachers Advisors New York	$132M	+$1.2M	8	0.29%	Increased
115	O'Shaughnessy Asset Management Stamford, Connecticut	$131M	+$16.1M	5	2.59%	Increased
116	Ninety One (UK) London, United Kingdom	$131M	-$3.96M	2	0.87%	Reduced
117	Fifth Third Bancorp Cincinnati, Ohio	$127M	+$3.82M	5	1.19%	Increased
118	GAMCO Investors Greenwich, Connecticut	$126M	-$1.89M	5	0.68%	Reduced
119	BNP Paribas Financial Markets Paris, France	$126M	+$50.7M	5	0.1%	Increased
120	Boston Partners Boston, Massachusetts	$122M	+$29.3M	3	0.22%	Increased
121	Retirement Systems of Alabama Montgomery, Alabama	$117M	-$468K	5	0.68%	Reduced
122	STRS Ohio Columbus, Ohio	$117M	-$1.21M	4	0.53%	Reduced
123	CIBC Private Wealth Group Atlanta, Georgia	$115M	+$110M	1	0.98%	New
124	Ohio Public Employees Retirement System (OPERS) Columbus, Ohio	$115M	-$9.43M	7	0.67%	Reduced
125	Westwood Holdings Group Dallas, Texas	$114M	-$10.1M	1	0.88%	Reduced