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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
Mitsubishi UFJ Trust & Banking
Mitsubishi UFJ Trust & Banking
Japan
$732M -$1.05B 16 2.6% Reduced
127
Longview Partners
Longview Partners
Guernsey
$731M -$8.61M 1 3.61% Reduced
128
AIG
American International Group
New York
$718M -$11.3M 51 2.38% Reduced
129
TimesSquare Capital Management
TimesSquare Capital Management
New York
$716M +$18.3M 7 4.75% Increased
130
Retirement Systems of Alabama
Retirement Systems of Alabama
Alabama
$697M +$13.8M 25 3.29% Increased
131
Pershing Square Capital Management
Pershing Square Capital Management
New York
$692M +$54.3M 1 13.28% Increased
132
Aviva
Aviva
United Kingdom
$691M +$164M 13 3.79% Increased
133
Burgundy Asset Management
Burgundy Asset Management
Ontario, Canada
$689M -$11.6M 4 6.41% Reduced
134
Tiger Global Management
Tiger Global Management
New York
$687M -$213M 1 3.25% Reduced
135
Panagora Asset Management
Panagora Asset Management
Massachusetts
$682M +$30.7M 42 2.57% Increased
136
BP
Berkshire Partners
Massachusetts
$674M $0 1 62.1% Maintained
137
Canada Pension Plan Investment Board
Canada Pension Plan Investment Board
Ontario, Canada
$672M +$251M 26 1.24% Increased
138
Stockbridge Partners
Stockbridge Partners
Massachusetts
$671M $0 1 26.62% Maintained
139
Axa
Axa
France
$667M -$85.9M 25 2.45% Reduced
140
Hotchkis & Wiley Capital Management
Hotchkis & Wiley Capital Management
California
$665M +$52.5M 9 2.39% Increased
141
EARNEST Partners
EARNEST Partners
Georgia
$661M -$5.54M 31 5.92% Reduced
142
Lone Pine Capital
Lone Pine Capital
Connecticut
$656M +$468K 1 3.38% Increased
143
Royce & Associates
Royce & Associates
New York
$656M +$8.66M 33 4.52% Increased
144
Fidelity International
Fidelity International
Bermuda
$651M -$52M 19 0.96% Reduced
145
First Trust Advisors
First Trust Advisors
Illinois
$649M -$125M 44 1.21% Reduced
146
Ohio Public Employees Retirement System (OPERS)
Ohio Public Employees Retirement System (OPERS)
Ohio
$641M -$37.5M 43 3.16% Reduced
147
State of Tennessee, Department of Treasury
State of Tennessee, Department of Treasury
Tennessee
$639M +$53M 38 3.1% Increased
148
Public Employees Retirement Association of Colorado
Public Employees Retirement Association of Colorado
Colorado
$629M +$57.3M 43 3.8% Increased
149
Schroder Investment Management Group
Schroder Investment Management Group
United Kingdom
$625M -$66.9M 19 1.07% Reduced
150
Fiera Capital (Canada)
Fiera Capital (Canada)
Quebec, Canada
$624M +$17.9M 11 2.48% Increased