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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
ClearBridge Investments
ClearBridge Investments
New York
$3.01B -$34.2M 17 2.37% Reduced
52
Bank of Montreal
Bank of Montreal
Ontario, Canada
$2.93B +$193M 47 1.29% Increased
53
First Trust Advisors
First Trust Advisors
Illinois
$2.87B +$196M 51 2.73% Increased
54
Abrams Capital Management
Abrams Capital Management
Massachusetts
$2.87B $0 1 46.04% Maintained
55
American Century Companies
American Century Companies
Missouri
$2.84B +$88.9M 60 1.65% Increased
56
AQR Capital Management
AQR Capital Management
Connecticut
$2.72B +$283M 58 3.76% Increased
57
RhumbLine Advisers
RhumbLine Advisers
Massachusetts
$2.7B +$6.02M 70 2.44% Increased
58
HSBC Holdings
HSBC Holdings
United Kingdom
$2.67B -$202M 55 1.56% Reduced
59
Neuberger Berman Group
Neuberger Berman Group
New York
$2.66B +$406M 48 2.08% Increased
60
DZ Bank
DZ Bank
Germany
$2.51B +$34M 15 2.46% Increased
61
Canada Pension Plan Investment Board
Canada Pension Plan Investment Board
Ontario, Canada
$2.5B +$66.2M 39 2.37% Increased
62
Renaissance Technologies
Renaissance Technologies
New York
$2.49B +$325M 70 3.74% Increased
63
VOYA Investment Management
VOYA Investment Management
Georgia
$2.48B -$65M 55 2.56% Reduced
64
National Pension Service
National Pension Service
South Korea
$2.44B +$276M 15 2.35% Increased
65
VanEck Associates
VanEck Associates
New York
$2.4B +$144M 35 3% Increased
66
Raymond James & Associates
Raymond James & Associates
Florida
$2.4B +$61M 53 1.46% Increased
67
Macquarie Group
Macquarie Group
Australia
$2.25B -$67.2M 39 2.43% Reduced
68
Stifel Financial
Stifel Financial
Missouri
$2.25B +$43.4M 55 2.36% Increased
69
California State Teachers Retirement System (CalSTRS)
California State Teachers Retirement System (CalSTRS)
California
$2.22B +$7.99M 66 2.59% Increased
70
Victory Capital Management
Victory Capital Management
Texas
$2.21B -$255M 53 2.12% Reduced
71
Primecap Management
Primecap Management
California
$2.15B +$124M 13 1.58% Increased
72
Citigroup
Citigroup
New York
$2.12B -$8.26M 78 1.23% Reduced
73
Qube Research & Technologies (QRT)
Qube Research & Technologies (QRT)
United Kingdom
$2.08B +$5.12M 46 3.07% Increased
74
Brown Advisory
Brown Advisory
Maryland
$2.03B +$254M 31 2.55% Increased
75
D.E. Shaw & Co
D.E. Shaw & Co
New York
$2.03B -$54.1M 51 1.74% Reduced