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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
101
Pzena Investment Management
Pzena Investment Management
New York
$644M +$19M 4 4.87% Increased
102
Glenmede Trust
Glenmede Trust
Pennsylvania
$620M $0 51 2.82% Maintained
103
Frontier Capital Management
Frontier Capital Management
Massachusetts
$615M -$33.6M 9 6.91% Reduced
104
Waddell & Reed Financial
Waddell & Reed Financial
Kansas
$609M -$248M 9 1.98% Reduced
105
Harris Associates
Harris Associates
Illinois
$585M -$148M 2 1.62% Reduced
106
Canada Life
Canada Life
Manitoba, Canada
$577M -$9.11M 52 1.54% Reduced
107
Mitsubishi UFJ Trust & Banking
Mitsubishi UFJ Trust & Banking
Japan
$573M -$45.9M 28 1.67% Reduced
108
Robeco Institutional Asset Management
Robeco Institutional Asset Management
Netherlands
$570M -$4.03M 25 2.29% Reduced
109
GAMCO Investors
GAMCO Investors
Connecticut
$565M -$19.1M 26 6.68% Reduced
110
Tiger Global Management
Tiger Global Management
New York
$563M -$168M 1 3.39% Reduced
111
Diamond Hill Capital Management
Diamond Hill Capital Management
Ohio
$561M -$23.5M 3 3.8% Reduced
112
Aberdeen Group
Aberdeen Group
United Kingdom
$561M +$21.1M 19 1.78% Increased
113
SAM
Southeastern Asset Management
Tennessee
$559M +$23.7M 3 13.29% Increased
114
Kayne Anderson Rudnick Investment Management
Kayne Anderson Rudnick Investment Management
California
$554M +$11M 14 3.16% Increased
115
DZ Bank
DZ Bank
Germany
$547M -$178M 19 1.85% Reduced
116
Federated Hermes
Federated Hermes
Pennsylvania
$547M -$51.3M 45 1.61% Reduced
117
CIBC Private Wealth Group
CIBC Private Wealth Group
Georgia
$544M -$81.6M 14 2.33% Reduced
118
Korea Investment Corp
Korea Investment Corp
South Korea
$540M +$109M 18 2.37% Increased
119
ACM
Atlanta Capital Management
Georgia
$532M +$463M 5 2.78% Increased
120
AGF Investments Inc
AGF Investments Inc
Ontario, Canada
$513M +$111M 15 6.21% Increased
121
State of Tennessee, Department of Treasury
State of Tennessee, Department of Treasury
Tennessee
$512M +$9.14M 36 2.88% Increased
122
Millennium Management
Millennium Management
New York
$512M -$654M 47 1.15% Reduced
123
Trian Fund Management
Trian Fund Management
New York
$510M +$105K 1 7.35% Increased
124
Toronto Dominion Bank
Toronto Dominion Bank
Ontario, Canada
$500M -$26.2M 23 1.53% Reduced
125
Westfield Capital Management
Westfield Capital Management
Massachusetts
$496M -$32.5M 6 4.37% Reduced