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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
1	State Street Boston, Massachusetts	$14B	-$103M	8	1.54%	Reduced
2	Vanguard Group Malvern, Pennsylvania	$8.7B	+$233M	9	0.58%	Increased
3	Massachusetts Financial Services Boston, Massachusetts	$3.75B	-$293M	3	2%	Reduced
4	BlackRock Institutional Trust San Francisco, California	$3.6B	+$38.2M	8	0.59%	Increased
5	JP Morgan Chase New York	$2.98B	+$286M	9	0.75%	Increased
6	Bank of America Charlotte, North Carolina	$2.66B	-$142M	9	0.63%	Reduced
7	Wellington Management Group Boston, Massachusetts	$2.64B	-$300M	4	0.69%	Reduced
8	Capital World Investors Los Angeles, California	$2.22B	-$320M	2	0.62%	Reduced
9	Bank of New York Mellon New York	$2.18B	-$58.2M	9	0.66%	Reduced
10	Franklin Resources San Mateo, California	$2.04B	-$35.6M	3	1.04%	Reduced
11	Fidelity Investments Boston, Massachusetts	$2B	+$235M	7	0.27%	Increased
12	BlackRock Fund Advisors San Francisco, California	$1.99B	+$225M	8	0.46%	Increased
13	Northern Trust Chicago, Illinois	$1.69B	-$106M	8	0.56%	Reduced
14	Wells Fargo San Francisco, California	$1.61B	+$177M	9	0.63%	Increased
15	Barrow, Hanley, Mewhinney & Strauss Dallas, Texas	$1.31B	+$86.5M	2	1.95%	Increased
16	BlackRock Group London, United Kingdom	$1.17B	+$29.1M	8	0.64%	Increased
17	Boston Partners Boston, Massachusetts	$1.09B	-$20.8M	4	1.56%	Reduced
18	Geode Capital Management Boston, Massachusetts	$1.07B	+$11.6M	9	0.61%	Increased
19	Morgan Stanley New York	$1.01B	+$30.1M	9	0.37%	Increased
20	T. Rowe Price Associates Baltimore, Maryland	$1B	-$166M	7	0.21%	Reduced
21	Putnam Investments Boston, Massachusetts	$980M	-$179M	4	2.21%	Reduced
22	AllianceBernstein Nashville, Tennessee	$968M	-$262M	6	0.82%	Reduced
23	Evercore Trust Company New York	$940M	+$263M	2	3.45%	Increased
24	Deutsche Bank Frankfurt Am Main Ge, Germany	$924M	+$218M	9	0.64%	Increased
25	Norges Bank Oslo, Norway	$921M	-$37.6M	5	0.46%	Reduced