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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
Federated Hermes
Federated Hermes
Pennsylvania
$706M +$65.4M 45 1.74% Increased
127
Fiduciary Management Inc
Fiduciary Management Inc
Wisconsin
$700M -$92.5M 3 4.54% Reduced
128
Pzena Investment Management
Pzena Investment Management
New York
$699M +$11.5M 3 3.8% Increased
129
Winslow Capital Management
Winslow Capital Management
Minnesota
$697M -$267M 4 3.8% Reduced
130
Amundi Asset Management US
Amundi Asset Management US
Massachusetts
$680M +$63.9M 34 1.01% Increased
131
Retirement Systems of Alabama
Retirement Systems of Alabama
Alabama
$675M -$52M 25 3.24% Reduced
132
Burgundy Asset Management
Burgundy Asset Management
Ontario, Canada
$672M -$82.8M 4 6.71% Reduced
133
Schroder Investment Management Group
Schroder Investment Management Group
United Kingdom
$670M -$777M 23 1.18% Reduced
134
Lone Pine Capital
Lone Pine Capital
Connecticut
$669M -$155M 1 3.93% Reduced
135
Fidelity International
Fidelity International
Bermuda
$663M -$53.1M 18 1% Reduced
136
Los Angeles Capital Management
Los Angeles Capital Management
California
$662M +$97M 34 3.59% Increased
137
State of Tennessee, Department of Treasury
State of Tennessee, Department of Treasury
Tennessee
$661M +$80.2M 37 3.07% Increased
138
Kayne Anderson Rudnick Investment Management
Kayne Anderson Rudnick Investment Management
California
$661M +$1.69M 8 3.45% Increased
139
Bank of Nova Scotia
Bank of Nova Scotia
Ontario, Canada
$657M +$77.9M 23 1.95% Increased
140
Canada Pension Plan Investment Board
Canada Pension Plan Investment Board
Ontario, Canada
$649M +$8.39M 30 1.34% Increased
141
Toronto Dominion Bank
Toronto Dominion Bank
Ontario, Canada
$644M +$33.1M 20 1.36% Increased
142
Glenmede Trust
Glenmede Trust
Pennsylvania
$638M -$110M 50 2.92% Reduced
143
Aperio Group
Aperio Group
California
$638M +$15.8M 48 2.52% Increased
144
Panagora Asset Management
Panagora Asset Management
Massachusetts
$636M -$17.5M 44 2.94% Reduced
145
Fiera Capital (Canada)
Fiera Capital (Canada)
Quebec, Canada
$633M +$26.2M 10 2.36% Increased
146
BP
Berkshire Partners
Massachusetts
$632M -$425M 1 69.09% Reduced
147
Public Employees Retirement Association of Colorado
Public Employees Retirement Association of Colorado
Colorado
$631M -$22.9M 43 3.84% Reduced
148
Korea Investment Corp
Korea Investment Corp
South Korea
$617M -$21.4M 15 2.61% Reduced
149
TimesSquare Capital Management
TimesSquare Capital Management
New York
$613M -$7.28M 9 5.42% Reduced
150
Ohio Public Employees Retirement System (OPERS)
Ohio Public Employees Retirement System (OPERS)
Ohio
$605M +$2.14M 45 3.23% Increased