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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
VVP
Vulcan Value Partners
Alabama
$937M -$500M 4 11.86% Reduced
102
Kayne Anderson Rudnick Investment Management
Kayne Anderson Rudnick Investment Management
California
$930M +$12.4M 21 2.73% Increased
103
Susquehanna International Group
Susquehanna International Group
Pennsylvania
$922M +$241M 81 0.2% Increased
104
State of Wisconsin Investment Board
State of Wisconsin Investment Board
Wisconsin
$919M +$25M 57 2.74% Increased
105
William Blair Investment Management
William Blair Investment Management
Illinois
$917M +$53.6M 7 3.19% Increased
106
Viking Global Investors
Viking Global Investors
Connecticut
$916M -$81.5M 2 4.3% Reduced
107
DZ Bank
DZ Bank
Germany
$915M +$81.9M 13 1.51% Increased
108
Corient Private Wealth
Corient Private Wealth
Florida
$913M +$398M 35 2.45% Increased
109
Artisan Partners
Artisan Partners
Wisconsin
$912M +$104M 8 1.5% Increased
110
TD Asset Management
TD Asset Management
Ontario, Canada
$907M +$13.8M 27 1.09% Increased
111
Harris Associates
Harris Associates
Illinois
$894M -$45M 3 1.74% Reduced
112
LSV Asset Management
LSV Asset Management
Illinois
$894M -$63.8M 16 2% Reduced
113
Stockbridge Partners
Stockbridge Partners
Massachusetts
$881M -$290M 1 20.43% Reduced
114
Diamond Hill Capital Management
Diamond Hill Capital Management
Ohio
$855M -$57M 5 4% Reduced
115
Mitsubishi UFJ Asset Management
Mitsubishi UFJ Asset Management
Japan
$835M +$50.2M 39 1.98% Increased
116
Jennison Associates
Jennison Associates
New York
$834M -$66M 13 0.76% Reduced
117
Russell Investments Group
Russell Investments Group
United Kingdom
$824M -$125M 59 1.62% Reduced
118
Natixis Advisors
Natixis Advisors
Massachusetts
$818M -$10.2M 37 2.81% Reduced
119
MCMC
Matrix Capital Management Company
New Hampshire
$807M $0 1 10.96% Maintained
120
Bahl & Gaynor
Bahl & Gaynor
Ohio
$802M +$244M 12 4.32% Increased
121
Fidelity International
Fidelity International
Bermuda
$802M +$243M 18 0.92% Increased
122
Schroder Investment Management Group
Schroder Investment Management Group
United Kingdom
$778M -$159M 23 1.16% Reduced
123
US Bancorp
US Bancorp
Minnesota
$758M -$17.5M 63 1.28% Reduced
124
Caisse de Depot et Placement du Quebec (CDPQ)
Caisse de Depot et Placement du Quebec (CDPQ)
Quebec, Canada
$757M -$18.1M 11 2.16% Reduced
125
WCM Investment Management
WCM Investment Management
California
$754M +$119M 6 2.41% Increased