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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
US Bancorp
US Bancorp
Minnesota
$745M -$10.3M 53 1.9% Reduced
127
Federated Hermes
Federated Hermes
Pennsylvania
$735M +$43.8M 44 1.64% Increased
128
STRS Ohio
STRS Ohio
Ohio
$721M -$37.3M 39 3.02% Reduced
129
Aberdeen Group
Aberdeen Group
United Kingdom
$717M +$125M 19 1.73% Increased
130
Trian Fund Management
Trian Fund Management
New York
$717M +$362 1 7.56% Increased
131
Fiduciary Management Inc
Fiduciary Management Inc
Wisconsin
$715M -$15.8M 3 4.43% Reduced
132
Lone Pine Capital
Lone Pine Capital
Connecticut
$702M -$16.2M 1 3.72% Reduced
133
Robeco Institutional Asset Management
Robeco Institutional Asset Management
Netherlands
$701M +$80.8M 25 2.25% Increased
134
State of New Jersey Common Pension Fund D
State of New Jersey Common Pension Fund D
New Jersey
$700M -$43.4M 34 2.64% Reduced
135
Retirement Systems of Alabama
Retirement Systems of Alabama
Alabama
$697M +$12.7M 26 3.09% Increased
136
Fidelity International
Fidelity International
Bermuda
$695M -$22.7M 18 0.96% Reduced
137
Burgundy Asset Management
Burgundy Asset Management
Ontario, Canada
$681M -$29.3M 4 6.71% Reduced
138
Kayne Anderson Rudnick Investment Management
Kayne Anderson Rudnick Investment Management
California
$675M -$839K 10 3.26% Reduced
139
Westfield Capital Management
Westfield Capital Management
Massachusetts
$674M +$51.7M 5 4.8% Increased
140
Prudential plc
Prudential plc
United Kingdom
$670M -$70M 15 2.82% Reduced
141
Korea Investment Corp
Korea Investment Corp
South Korea
$659M +$49.4M 18 2.4% Increased
142
State of Tennessee, Department of Treasury
State of Tennessee, Department of Treasury
Tennessee
$650M -$18.9M 36 2.87% Reduced
143
Aperio Group
Aperio Group
California
$648M +$8.24M 50 2.33% Increased
144
Schroder Investment Management Group
Schroder Investment Management Group
United Kingdom
$647M -$45.1M 21 1.05% Reduced
145
Stockbridge Partners
Stockbridge Partners
Massachusetts
$645M $0 1 23.42% Maintained
146
SEI Investments
SEI Investments
Pennsylvania
$643M -$11.6M 44 1.92% Reduced
147
APG Asset Management
APG Asset Management
Netherlands
$635M +$63M 13 1.03% Increased
148
Public Employees Retirement Association of Colorado
Public Employees Retirement Association of Colorado
Colorado
$628M +$407K 43 3.54% Increased
149
1832 Asset Management
1832 Asset Management
Ontario, Canada
$623M -$343M 9 1.9% Reduced
150
Westwood Holdings Group
Westwood Holdings Group
Texas
$620M +$36.5M 15 6.62% Increased