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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
51
American Century Companies
American Century Companies
Missouri
$2.61B -$422M 60 1.64% Reduced
52
HSBC Holdings
HSBC Holdings
United Kingdom
$2.6B +$618M 51 1.76% Increased
53
First Trust Advisors
First Trust Advisors
Illinois
$2.52B -$198M 47 2.56% Reduced
54
RhumbLine Advisers
RhumbLine Advisers
Massachusetts
$2.46B -$3.61M 68 2.36% Reduced
55
Bank of Montreal
Bank of Montreal
Ontario, Canada
$2.46B -$350M 50 0.74% Reduced
56
Canada Pension Plan Investment Board
Canada Pension Plan Investment Board
Ontario, Canada
$2.45B +$959M 29 2.58% Increased
57
VOYA Investment Management
VOYA Investment Management
Georgia
$2.36B +$359M 53 2.31% Increased
58
DZ Bank
DZ Bank
Germany
$2.24B +$253M 15 2.4% Increased
59
Fisher Asset Management
Fisher Asset Management
Washington
$2.23B +$98.6M 19 1.04% Increased
60
Macquarie Group
Macquarie Group
Australia
$2.2B -$451M 47 2.5% Reduced
61
Citadel Advisors
Citadel Advisors
Florida
$2.17B +$414M 91 0.42% Increased
62
Raymond James & Associates
Raymond James & Associates
Florida
$2.09B +$21M 50 1.42% Increased
63
California State Teachers Retirement System (CalSTRS)
California State Teachers Retirement System (CalSTRS)
California
$1.99B +$6.3M 59 2.51% Increased
64
Stifel Financial
Stifel Financial
Missouri
$1.93B +$37.4M 52 2.2% Increased
65
National Pension Service
National Pension Service
South Korea
$1.88B +$24.1M 15 2.25% Increased
66
Primecap Management
Primecap Management
California
$1.87B -$5.24M 11 1.4% Reduced
67
New York State Common Retirement Fund
New York State Common Retirement Fund
New York
$1.86B -$111M 64 2.46% Reduced
68
Qube Research & Technologies (QRT)
Qube Research & Technologies (QRT)
United Kingdom
$1.85B +$662M 63 2.94% Increased
69
AQR Capital Management
AQR Capital Management
Connecticut
$1.85B +$101M 51 3.14% Increased
70
Manulife (Manufacturers Life Insurance)
Manulife (Manufacturers Life Insurance)
Ontario, Canada
$1.74B -$66M 58 1.61% Reduced
71
EARNEST Partners
EARNEST Partners
Georgia
$1.72B +$12.6M 14 7.89% Increased
72
Neuberger Berman Group
Neuberger Berman Group
New York
$1.72B -$1.9B 43 1.43% Reduced
73
WCM Investment Management
WCM Investment Management
California
$1.69B +$50.2M 8 4.02% Increased
74
Renaissance Technologies
Renaissance Technologies
New York
$1.63B -$594M 63 2.56% Reduced
75
Allspring Global Investments
Allspring Global Investments
North Carolina
$1.62B -$17.3M 43 2.53% Reduced