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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
76
Millennium Management
Millennium Management
New York
$985M -$298M 57 1.21% Reduced
77
New York State Teachers Retirement System (NYSTRS)
New York State Teachers Retirement System (NYSTRS)
New York
$973M -$36.5M 42 2.35% Reduced
78
Barclays
Barclays
United Kingdom
$972M +$76.4M 58 0.58% Increased
79
State Board of Administration of Florida Retirement System
State Board of Administration of Florida Retirement System
Florida
$963M -$3.22M 49 2.19% Reduced
80
AQR Capital Management
AQR Capital Management
Connecticut
$961M -$189M 46 1.62% Reduced
81
First Trust Advisors
First Trust Advisors
Illinois
$935M +$18.5M 45 1.5% Increased
82
Caisse de Depot et Placement du Quebec (CDPQ)
Caisse de Depot et Placement du Quebec (CDPQ)
Quebec, Canada
$897M -$140M 19 2.39% Reduced
83
Viking Global Investors
Viking Global Investors
Connecticut
$863M +$586M 2 3.12% Increased
84
ACM
Atlanta Capital Management
Georgia
$854M +$20.4M 6 3.51% Increased
85
Brown Advisory
Brown Advisory
Maryland
$847M +$63M 25 1.75% Increased
86
Tiger Global Management
Tiger Global Management
New York
$835M $0 1 2.35% Maintained
87
Barrow, Hanley, Mewhinney & Strauss
Barrow, Hanley, Mewhinney & Strauss
Texas
$835M +$99.5M 9 3.21% Increased
88
National Pension Service
National Pension Service
South Korea
$834M $0 14 2.19% Maintained
89
HSBC Holdings
HSBC Holdings
United Kingdom
$833M +$161M 43 1.33% Increased
90
TD Asset Management
TD Asset Management
Ontario, Canada
$825M +$71.5M 29 1.14% Increased
91
Susquehanna International Group
Susquehanna International Group
Pennsylvania
$812M -$407M 51 0.16% Reduced
92
Soroban Capital Partners
Soroban Capital Partners
New York
$801M -$196M 1 8.08% Reduced
93
Adage Capital Partners
Adage Capital Partners
Massachusetts
$792M -$4.28M 22 1.98% Reduced
94
State of Wisconsin Investment Board
State of Wisconsin Investment Board
Wisconsin
$786M -$78.3M 46 1.96% Reduced
95
Amundi Asset Management US
Amundi Asset Management US
Massachusetts
$761M +$103M 33 0.8% Increased
96
Bahl & Gaynor
Bahl & Gaynor
Ohio
$754M -$46.9M 12 5.34% Reduced
97
VOYA Investment Management
VOYA Investment Management
Georgia
$752M -$79.7M 51 1.66% Reduced
98
Russell Investments Group
Russell Investments Group
United Kingdom
$751M -$34.3M 61 1.62% Reduced
99
Renaissance Technologies
Renaissance Technologies
New York
$749M -$165M 59 0.75% Reduced
100
Stockbridge Partners
Stockbridge Partners
Massachusetts
$739M +$62.7M 1 20.34% Increased