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Defense Modernization

Defense modernization covers the rearmament and technology refresh underway as governments raise military budgets and restock depleted inventories. Contracts are long, funded, and relatively insensitive to the economic cycle.

163 stocks

# Name Holding Trade Value Theme
Stocks
% of
Portfolio
Status
26
Legal & General Group
Legal & General Group
United Kingdom
$4.23B +$51.1M 59 2.04% Increased
27
Goldman Sachs
Goldman Sachs
New York
$4.02B -$286M 62 1.22% Reduced
28
Norges Bank
Norges Bank
Norway
$3.95B +$114M 38 1.14% Increased
29
Janus Henderson Group
Janus Henderson Group
$3.83B -$615M 25 2.15% Reduced
30
Royal Bank of Canada
Royal Bank of Canada
Ontario, Canada
$3.76B +$267M 71 1.49% Increased
31
UBS Group
UBS Group
Switzerland
$3.48B -$390M 80 1.47% Reduced
32
Principal Financial Group
Principal Financial Group
Iowa
$3.29B +$499M 48 2.9% Increased
33
Sumitomo Mitsui Trust Group
Sumitomo Mitsui Trust Group
Japan
$3.26B +$401M 26 2.3% Increased
34
AllianceBernstein
AllianceBernstein
Tennessee
$3.01B +$166M 57 1.77% Increased
35
ClearBridge Investments
ClearBridge Investments
New York
$2.81B -$193M 17 2.54% Reduced
36
Deutsche Bank
Deutsche Bank
Germany
$2.47B +$485M 61 1.87% Increased
37
Parametric Portfolio Associates
Parametric Portfolio Associates
Washington
$2.42B -$23.7M 55 1.85% Reduced
38
California Public Employees Retirement System
California Public Employees Retirement System
California
$2.27B +$226M 66 2.24% Increased
39
Swiss National Bank
Swiss National Bank
Switzerland
$2.27B +$116M 50 1.92% Increased
40
Loomis, Sayles & Company
Loomis, Sayles & Company
Massachusetts
$2.18B +$949M 25 3.5% Increased
41
UBS AM
UBS AM
Illinois
$2.07B -$58.2M 50 1.26% Reduced
42
Aristotle Capital Management
Aristotle Capital Management
California
$1.97B +$121M 4 6.62% Increased
43
Boston Partners
Boston Partners
Massachusetts
$1.97B -$584M 19 3.61% Reduced
44
New York State Common Retirement Fund
New York State Common Retirement Fund
New York
$1.93B -$48.2M 58 2.47% Reduced
45
Macquarie Group
Macquarie Group
Australia
$1.77B +$629M 45 3.04% Increased
46
Victory Capital Management
Victory Capital Management
Texas
$1.72B -$171M 50 2.32% Reduced
47
American Century Companies
American Century Companies
Missouri
$1.48B +$235M 30 1.41% Increased
48
Prudential Financial
Prudential Financial
New Jersey
$1.42B -$95.1M 45 2.7% Reduced
49
PNC Financial Services Group
PNC Financial Services Group
Pennsylvania
$1.42B -$60.2M 54 1.88% Reduced
50
Artisan Partners
Artisan Partners
Wisconsin
$1.37B +$59.2M 5 2.2% Increased