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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	$173M	$0	1	3.37%	Maintained
102	Susquehanna International Group Bala Cynwyd, Pennsylvania	$172M	+$132M	7	0.07%	Increased
103	BlackRock Japan Tokyo, Japan	$169M	+$11.2M	4	0.65%	Increased
104	Guggenheim Capital Chicago, Illinois	$168M	-$4.61M	7	0.42%	Reduced
105	Canada Life Winnipeg, Manitoba, Canada	$168M	+$12.5M	8	0.55%	Increased
106	DAC Dividend Assets Capital Ridgeland, South Carolina	$162M	+$7.16M	2	3.67%	Increased
107	Winton Group London, United Kingdom	$158M	-$110M	5	1.96%	Reduced
108	Fiera Capital (Canada) Montreal, Quebec, Canada	$157M	+$22M	1	1.15%	Increased
109	O'Shaughnessy Asset Management Stamford, Connecticut	$153M	-$6.69M	5	2.94%	Reduced
110	USAA United Services Automobile Association San Antonio, Texas	$151M	-$8.1M	3	0.53%	Reduced
111	Boston Partners Boston, Massachusetts	$151M	+$24.6M	3	0.23%	Increased
112	Teachers Advisors New York	$150M	-$22.1M	8	0.29%	Reduced
113	D.E. Shaw & Co New York	$143M	-$92.6M	6	0.18%	Reduced
114	Swiss National Bank Zurich, Switzerland	$140M	-$1.7M	9	0.53%	Reduced
115	Primecap Management Pasadena, California	$139M	+$162K	1	0.14%	Increased
116	State of New Jersey Common Pension Fund D Trenton, New Jersey	$137M	+$49.4M	3	0.53%	Increased
117	Millennium Management New York	$132M	+$29M	6	0.28%	Increased
118	KeyBank National Association Cleveland, Ohio	$132M	+$1.08M	4	0.86%	Increased
119	Mawer Investment Management Calgary, Alberta, Canada	$131M	+$22.4M	2	1.69%	Increased
120	Citigroup New York	$129M	+$13M	9	0.12%	Increased
121	Stifel Financial St. Louis, Missouri	$129M	+$68.6M	6	0.72%	Increased
122	Neuberger Berman Group New York	$124M	-$7.59M	4	0.13%	Reduced
123	Lazard Asset Management New York	$124M	-$53M	2	0.26%	Reduced
124	Los Angeles Capital Management Los Angeles, California	$122M	+$38.9M	5	1.12%	Increased
125	Capital Guardian Trust Los Angeles, California	$121M	-$1.6M	3	0.84%	Reduced