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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
Kayne Anderson Rudnick Investment Management
Kayne Anderson Rudnick Investment Management
California
$731M +$22.6M 8 2.65% Increased
102
Diamond Hill Capital Management
Diamond Hill Capital Management
Ohio
$723M +$189M 3 3.99% Increased
103
Thrivent Financial for Lutherans
Thrivent Financial for Lutherans
Minnesota
$715M -$88.8M 42 1.91% Reduced
104
Harris Associates
Harris Associates
Illinois
$707M +$24.5M 3 1.72% Increased
105
Ensign Peak Advisors
Ensign Peak Advisors
Utah
$698M +$35.6M 42 1.76% Increased
106
EARNEST Partners
EARNEST Partners
Georgia
$679M +$19.4M 31 5.86% Increased
107
Truist Financial
Truist Financial
North Carolina
$670M -$106M 36 1.46% Reduced
108
Point72 Asset Management
Point72 Asset Management
Connecticut
$663M +$528M 12 3.39% Increased
109
Aberdeen Group
Aberdeen Group
United Kingdom
$660M +$63.1M 19 1.76% Increased
110
CIBC Private Wealth Group
CIBC Private Wealth Group
Georgia
$642M +$136M 12 1.97% Increased
111
Davis Selected Advisers
Davis Selected Advisers
Arizona
$640M -$8.76M 1 3.56% Reduced
112
Mitsubishi UFJ Trust & Banking
Mitsubishi UFJ Trust & Banking
Japan
$639M -$22.7M 27 1.44% Reduced
113
Canada Pension Plan Investment Board
Canada Pension Plan Investment Board
Ontario, Canada
$616M +$129M 24 1.16% Increased
114
Federated Hermes
Federated Hermes
Pennsylvania
$614M -$22.7M 44 1.44% Reduced
115
Envestnet Asset Management
Envestnet Asset Management
Illinois
$606M +$2.01M 41 0.54% Increased
116
Canada Life
Canada Life
Manitoba, Canada
$603M -$26.2M 52 1.31% Reduced
117
Fisher Asset Management
Fisher Asset Management
Washington
$589M +$102K 16 0.52% Increased
118
AP
Altarock Partners
Florida
$582M +$15.3M 1 27.45% Increased
119
Baupost Group
Baupost Group
Massachusetts
$560M +$96.7M 1 6.05% Increased
120
WPL
WINDACRE PARTNERSHIP LLC
Texas
$558M -$275M 1 17% Reduced
121
Public Employees Retirement Association of Colorado
Public Employees Retirement Association of Colorado
Colorado
$556M -$8.42M 43 2.94% Reduced
122
GAMCO Investors
GAMCO Investors
Connecticut
$529M -$44.2M 26 5.87% Reduced
123
Korea Investment Corp
Korea Investment Corp
South Korea
$528M -$137M 15 1.86% Reduced
124
US Bancorp
US Bancorp
Minnesota
$524M -$11.7M 58 1.28% Reduced
125
MCMC
Matrix Capital Management Company
New Hampshire
$520M $0 1 6.91% Maintained