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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
126
Burgundy Asset Management
Burgundy Asset Management
Ontario, Canada
$690M +$5.27M 4 6.54% Increased
127
Fred Alger Management
Fred Alger Management
New York
$686M -$74.9M 11 3.28% Reduced
128
State of Tennessee, Department of Treasury
State of Tennessee, Department of Treasury
Tennessee
$682M -$21.3M 37 3.27% Reduced
129
State of New Jersey Common Pension Fund D
State of New Jersey Common Pension Fund D
New Jersey
$681M +$20M 18 2.8% Increased
130
Aristotle Capital Management
Aristotle Capital Management
California
$671M +$34.6M 4 5.6% Increased
131
IAM
Iridian Asset Management
Connecticut
$667M -$17.8M 2 5.9% Reduced
132
VVP
Vulcan Value Partners
Alabama
$653M +$74.9M 4 5.82% Increased
133
Retirement Systems of Alabama
Retirement Systems of Alabama
Alabama
$635M -$5.32M 24 3.42% Reduced
134
Thrivent Financial for Lutherans
Thrivent Financial for Lutherans
Minnesota
$635M +$80M 44 2.63% Increased
135
Ohio Public Employees Retirement System (OPERS)
Ohio Public Employees Retirement System (OPERS)
Ohio
$628M -$181K 42 3.45% Reduced
136
Gabelli Funds
Gabelli Funds
New York
$627M -$10.2M 26 3.73% Reduced
137
Aviva
Aviva
United Kingdom
$608M -$11.4M 12 3.4% Reduced
138
Hotchkis & Wiley Capital Management
Hotchkis & Wiley Capital Management
California
$605M -$99.3M 5 2.43% Reduced
139
Axa
Axa
France
$604M -$18.9M 20 2.74% Reduced
140
Royce & Associates
Royce & Associates
New York
$603M -$32.7M 32 4% Reduced
141
National Pension Service
National Pension Service
South Korea
$600M +$51.8M 12 3.58% Increased
142
D.E. Shaw & Co
D.E. Shaw & Co
New York
$570M -$333M 38 0.94% Reduced
143
Glenmede Trust
Glenmede Trust
Pennsylvania
$570M -$49.4K 42 2.72% Reduced
144
Korea Investment Corp
Korea Investment Corp
South Korea
$561M -$10.5M 13 2.61% Reduced
145
CIBC Private Wealth Group
CIBC Private Wealth Group
Georgia
$557M +$52.7M 12 3.5% Increased
146
Homestead Advisers
Homestead Advisers
Virginia
$556M -$2.93M 7 8.7% Reduced
147
DZ Bank
DZ Bank
Germany
$556M -$7.42M 17 2.57% Reduced
148
GA
Greenhaven Associates
New York
$555M -$4.74M 1 8.39% Reduced
149
Two Sigma Investments
Two Sigma Investments
New York
$547M +$130M 29 1.98% Increased
150
Aberdeen Asset Management
Aberdeen Asset Management
United Kingdom
$540M +$27.7M 14 1.8% Increased