← All themes

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
$674M -$127M 26 1.49% Reduced
127
Canada Life
Canada Life
Manitoba, Canada
$672M -$126M 52 1.63% Reduced
128
JP Morgan Private Wealth Advisors
JP Morgan Private Wealth Advisors
California
$667M +$3.81M 26 2.16% Increased
129
Federated Hermes
Federated Hermes
Pennsylvania
$662M +$60.8M 46 1.28% Increased
130
GAMCO Investors
GAMCO Investors
Connecticut
$660M -$40.9M 30 5.8% Reduced
131
Public Employees Retirement Association of Colorado
Public Employees Retirement Association of Colorado
Colorado
$657M -$14.6M 45 3.07% Reduced
132
Healthcare of Ontario Pension Plan (HOOPP) Trust Fund
Healthcare of Ontario Pension Plan (HOOPP) Trust Fund
Ontario, Canada
$648M +$129M 25 1.6% Increased
133
MCMC
Matrix Capital Management Company
New Hampshire
$644M -$41.6M 1 7.43% Reduced
134
LPL Financial
LPL Financial
California
$643M +$58.7M 49 0.74% Increased
135
Bank of Nova Scotia
Bank of Nova Scotia
Ontario, Canada
$640M -$11.3M 21 1.25% Reduced
136
Ohio Public Employees Retirement System (OPERS)
Ohio Public Employees Retirement System (OPERS)
Ohio
$633M +$44.2M 47 2.52% Increased
137
Retirement Systems of Alabama
Retirement Systems of Alabama
Alabama
$631M -$31.7M 27 2.38% Reduced
138
Korea Investment Corp
Korea Investment Corp
South Korea
$628M -$145M 15 1.98% Reduced
139
Fred Alger Management
Fred Alger Management
New York
$626M -$129M 13 1.64% Reduced
140
Chevy Chase Trust
Chevy Chase Trust
Maryland
$619M -$37.8M 16 2.21% Reduced
141
Two Sigma Investments
Two Sigma Investments
New York
$619M -$361M 44 1.61% Reduced
142
Schroder Investment Management Group
Schroder Investment Management Group
United Kingdom
$618M +$153M 31 0.8% Increased
143
Sachem Head Capital Management
Sachem Head Capital Management
New York
$614M -$87.7M 2 16.6% Reduced
144
Fidelity International
Fidelity International
Bermuda
$611M +$238M 18 0.7% Increased
145
Artisan Partners
Artisan Partners
Wisconsin
$611M -$264M 7 0.77% Reduced
146
DZ Bank
DZ Bank
Germany
$604M +$70.8M 14 1.11% Increased
147
BP
Berkshire Partners
Massachusetts
$601M +$589 1 48.3% Increased
148
State of New Jersey Common Pension Fund D
State of New Jersey Common Pension Fund D
New Jersey
$595M -$22.7M 36 2.08% Reduced
149
Jarislowsky, Fraser Ltd
Jarislowsky, Fraser Ltd
Quebec, Canada
$590M -$46.7M 4 2.91% Reduced
150
Royce & Associates
Royce & Associates
New York
$576M +$57.9M 34 3.87% Increased