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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
Baird Financial Group
Baird Financial Group
Wisconsin
$714M +$677K 25 1.86% Increased
127
MCMC
Matrix Capital Management Company
New Hampshire
$709M $0 1 7.74% Maintained
128
Schroder Investment Management Group
Schroder Investment Management Group
United Kingdom
$704M +$66.4M 32 0.88% Increased
129
LPL Financial
LPL Financial
California
$701M +$46.4M 51 0.71% Increased
130
US Bancorp
US Bancorp
Minnesota
$699M -$2.83M 64 1.31% Reduced
131
Select Equity Group
Select Equity Group
New York
$693M +$445M 3 2.37% Increased
132
Toronto Dominion Bank
Toronto Dominion Bank
Ontario, Canada
$691M +$98.2M 23 1.07% Increased
133
Fidelity International
Fidelity International
Bermuda
$687M +$46.5M 16 0.74% Increased
134
Ohio Public Employees Retirement System (OPERS)
Ohio Public Employees Retirement System (OPERS)
Ohio
$682M +$25.4M 48 2.41% Increased
135
Artisan Partners
Artisan Partners
Wisconsin
$676M +$28.5M 6 0.81% Increased
136
Canada Life
Canada Life
Manitoba, Canada
$665M -$30.3M 52 1.52% Reduced
137
Luther King Capital Management (LKCM)
Luther King Capital Management (LKCM)
Texas
$662M +$150M 18 3.24% Increased
138
BP
Berkshire Partners
Massachusetts
$661M $0 1 47.71% Maintained
139
Korea Investment Corp
Korea Investment Corp
South Korea
$659M +$15.2M 17 1.89% Increased
140
GAMCO Investors
GAMCO Investors
Connecticut
$658M -$28.9M 29 5.58% Reduced
141
Eagle Asset Management
Eagle Asset Management
Florida
$648M +$78.6M 15 2.78% Increased
142
Public Employees Retirement Association of Colorado
Public Employees Retirement Association of Colorado
Colorado
$646M -$33.7M 46 2.81% Reduced
143
Bahl & Gaynor
Bahl & Gaynor
Ohio
$633M -$99.1M 13 3.85% Reduced
144
Mitsubishi UFJ Trust & Banking
Mitsubishi UFJ Trust & Banking
Japan
$631M -$73.6M 29 1.33% Reduced
145
Alkeon Capital Management
Alkeon Capital Management
New York
$626M +$22.7M 2 0.92% Increased
146
State of Tennessee, Department of Treasury
State of Tennessee, Department of Treasury
Tennessee
$623M +$46.8M 38 2.38% Increased
147
Chevy Chase Trust
Chevy Chase Trust
Maryland
$610M -$28.6M 15 2.07% Reduced
148
Retirement Systems of Alabama
Retirement Systems of Alabama
Alabama
$593M -$50.4M 26 2.14% Reduced
149
Federated Hermes
Federated Hermes
Pennsylvania
$586M -$90.1M 44 1.09% Reduced
150
Ceredex Value Advisors
Ceredex Value Advisors
Florida
$566M +$69.4M 5 6.35% Increased