Manufacturers Behind Dealers & Retailers

Own manufacturers whose branded products reach customers through dealers, distributors, bottlers and retailers, rather than owning the storefronts themselves. The common investment driver is channel replenishment: replacement purchases and everyday consumption can support orders even when discretionary demand softens. Recent weakness in equipment and footwear alongside firmer household-product shares offers differentiated entry points, although channel destocking remains a risk. Launch basket (equal weight): CAT, NKE, PG, KO, PEP, DE, ITW, CL Rules: 1. No inverse, leveraged or volatility ETFs. 2. Only names tradable at the enrolled brokers (Moomoo): no OTC listings, no dead tickers, nothing on the refused list.