AAM Top Equity Holdings
June 30, 2020
| Company Name | Industry | Percent Invested |
| Microsoft Corp. | Business Software & Services | 3.6 |
| UnitedHealth Group Inc. | Health Care Plans | 3.6 |
| Philip Morris International | Tobacco | 2.1 |
| Anthem, Inc. | Health Care Plans | 2.0 |
| The Kroger Co. | Grocery Stores | 1.5 |
| PepsiCo Inc. | Beverages – Soft Drinks | 1.5 |
| Johnson & Johnson | Drug Manufacturers – Major | 1.4 |
| Medtronic PLC | Medical Devices | 1.4 |
| Home Depot Inc. | Home Improvement Retail | 1.4 |
| CVS Health Corp. | Healthcare Plans | 1.3 |
The companies identified and discussed in materials on this website do not represent all of the investments made or recommended by AAM. It should not be assumed that recommendations made in the future will be profitable or will equal the performance of securities discussed on this website. A list of all recommendations made within the immediately preceding 12 months is available on request.