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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
TD Asset Management
TD Asset Management
Ontario, Canada
$896M -$25.6M 26 1.11% Reduced
102
Diamond Hill Capital Management
Diamond Hill Capital Management
Ohio
$889M -$32.4M 5 4.04% Reduced
103
AP
Altarock Partners
Florida
$888M -$54.6M 1 27.9% Reduced
104
Schroder Investment Management Group
Schroder Investment Management Group
United Kingdom
$883M +$29.8M 26 1.4% Increased
105
State of Wisconsin Investment Board
State of Wisconsin Investment Board
Wisconsin
$854M -$31.3M 56 2.75% Reduced
106
Amundi
Amundi
France
$827M -$343M 33 0.45% Reduced
107
Kayne Anderson Rudnick Investment Management
Kayne Anderson Rudnick Investment Management
California
$821M -$19.1M 15 2.56% Reduced
108
Natixis Advisors
Natixis Advisors
Massachusetts
$818M +$91M 37 3.09% Increased
109
Harris Associates
Harris Associates
Illinois
$816M -$140M 4 1.66% Reduced
110
DZ Bank
DZ Bank
Germany
$791M +$170M 13 1.34% Increased
111
SEI Investments
SEI Investments
Pennsylvania
$789M -$62.9M 51 1.75% Reduced
112
AL
AIP LLC
New York
$783M $0 1 69.25% Maintained
113
US Bancorp
US Bancorp
Minnesota
$781M +$101M 62 1.38% Increased
114
William Blair Investment Management
William Blair Investment Management
Illinois
$774M -$34.1M 8 2.96% Reduced
115
Mitsubishi UFJ Asset Management
Mitsubishi UFJ Asset Management
Japan
$770M +$71M 39 2.1% Increased
116
Thrivent Financial for Lutherans
Thrivent Financial for Lutherans
Minnesota
$756M -$46.5M 45 1.96% Reduced
117
Korea Investment Corp
Korea Investment Corp
South Korea
$742M -$106M 19 2.33% Reduced
118
BNP Paribas Financial Markets
BNP Paribas Financial Markets
France
$737M +$99.1M 58 1.13% Increased
119
Luther King Capital Management (LKCM)
Luther King Capital Management (LKCM)
Texas
$722M +$17.7M 19 3.96% Increased
120
Artisan Partners
Artisan Partners
Wisconsin
$718M -$186M 7 1.27% Reduced
121
Two Sigma Investments
Two Sigma Investments
New York
$715M +$9.04M 50 2.25% Increased
122
Viking Global Investors
Viking Global Investors
Connecticut
$708M -$779M 2 3.55% Reduced
123
Caisse de Depot et Placement du Quebec (CDPQ)
Caisse de Depot et Placement du Quebec (CDPQ)
Quebec, Canada
$703M -$24.5M 14 2.16% Reduced
124
Fred Alger Management
Fred Alger Management
New York
$695M -$7.91M 13 3.77% Reduced
125
MCMC
Matrix Capital Management Company
New Hampshire
$689M $0 1 13.16% Maintained