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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
State of Wisconsin Investment Board
State of Wisconsin Investment Board
Wisconsin
$851M -$76.8M 60 2.22% Reduced
102
HSBC Holdings
HSBC Holdings
United Kingdom
$826M +$88.3M 43 1.15% Increased
103
TD Asset Management
TD Asset Management
Ontario, Canada
$816M -$31.5M 28 0.95% Reduced
104
William Blair Investment Management
William Blair Investment Management
Illinois
$805M -$50.3M 8 2.98% Reduced
105
Kayne Anderson Rudnick Investment Management
Kayne Anderson Rudnick Investment Management
California
$801M +$3.86M 14 2.53% Increased
106
Bessemer Group
Bessemer Group
New Jersey
$796M +$30.7M 37 1.99% Increased
107
Thrivent Financial for Lutherans
Thrivent Financial for Lutherans
Minnesota
$790M +$23.3M 44 2.1% Increased
108
AP
Altarock Partners
Florida
$783M +$22.1M 1 24.16% Increased
109
Ensign Peak Advisors
Ensign Peak Advisors
Utah
$768M -$11.5M 46 1.83% Reduced
110
Schroder Investment Management Group
Schroder Investment Management Group
United Kingdom
$766M +$74.5M 28 1.17% Increased
111
SEI Investments
SEI Investments
Pennsylvania
$763M +$118M 55 1.65% Increased
112
Caisse de Depot et Placement du Quebec (CDPQ)
Caisse de Depot et Placement du Quebec (CDPQ)
Quebec, Canada
$762M -$93.3M 15 2.1% Reduced
113
Brown Advisory
Brown Advisory
Maryland
$742M +$16.1M 22 1.4% Increased
114
Two Sigma Advisers
Two Sigma Advisers
New York
$735M +$207M 40 2.08% Increased
115
LPL Financial
LPL Financial
California
$715M +$56.1M 53 0.68% Increased
116
Amundi
Amundi
France
$705M -$79M 27 0.57% Reduced
117
Fred Alger Management
Fred Alger Management
New York
$676M -$124M 12 3.16% Reduced
118
Marshall Wace
Marshall Wace
United Kingdom
$668M -$140M 37 1.38% Reduced
119
Korea Investment Corp
Korea Investment Corp
South Korea
$666M -$53M 18 2.04% Reduced
120
Baird Financial Group
Baird Financial Group
Wisconsin
$626M -$9.57M 34 1.74% Reduced
121
Luther King Capital Management (LKCM)
Luther King Capital Management (LKCM)
Texas
$626M +$7.61M 18 3.5% Increased
122
Retirement Systems of Alabama
Retirement Systems of Alabama
Alabama
$612M +$91M 27 2.63% Increased
123
Two Sigma Investments
Two Sigma Investments
New York
$604M -$20.9M 38 1.99% Reduced
124
US Bancorp
US Bancorp
Minnesota
$590M -$6.84M 64 1.14% Reduced
125
MCMC
Matrix Capital Management Company
New Hampshire
$588M $0 1 13.32% Maintained