AAM Top Equity Holdings
March 31, 2020
| Company Name | Industry | Percent Invested |
| UnitedHealth Group Inc. | Health Care Plans | 3.3 |
| Microsoft Corp. | Business Software & Services | 3.1 |
| Philip Morris International | Tobacco | 2.4 |
| Anthem, Inc. | Health Care Plans | 1.8 |
| Medtronic PLC | Medical Devices | 1.6 |
| The Kroger Co. | Grocery Stores | 1.5 |
| Johnson & Johnson | Drug Manufacturers – Major | 1.5 |
| PepsiCo Inc. | Beverages – Soft Drinks | 1.5 |
| Biogen Inc. | Drug Manufacturers—General | 1.3 |
| Walmart Inc. | Discount Stores | 1.3 |
The companies identified and discussed in materials on this website do not represent all of the investments made or recommended by AAM. Â 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.