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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
151
EARNEST Partners
EARNEST Partners
Georgia
$508M +$24.4M 12 4.43% Increased
152
Teacher Retirement System of Texas
Teacher Retirement System of Texas
Texas
$506M -$9.16M 45 3.81% Reduced
153
Aviva
Aviva
United Kingdom
$506M -$9.75M 13 3.58% Reduced
154
Raymond James & Associates
Raymond James & Associates
Florida
$505M +$50.6M 28 1.94% Increased
155
Ruffer LLP
Ruffer LLP
United Kingdom
$504M -$20.3M 4 21.95% Reduced
156
Los Angeles Capital Management
Los Angeles Capital Management
California
$498M +$32.1M 27 4.64% Increased
157
Lone Pine Capital
Lone Pine Capital
Connecticut
$498M $0 1 1.86% Maintained
158
State of Tennessee, Department of Treasury
State of Tennessee, Department of Treasury
Tennessee
$498M +$11.6M 36 2.74% Increased
159
Select Equity Group
Select Equity Group
New York
$493M -$8.33M 4 4.49% Reduced
160
Pictet Asset Management (UK)
Pictet Asset Management (UK)
United Kingdom
$473M -$21.8M 15 1.93% Reduced
161
Millennium Management
Millennium Management
New York
$468M -$315M 40 0.89% Reduced
162
Calamos Advisors
Calamos Advisors
Illinois
$464M +$45.7M 11 2.87% Increased
163
Federated Hermes
Federated Hermes
Pennsylvania
$460M +$115M 34 1.38% Increased
164
Pzena Investment Management
Pzena Investment Management
New York
$460M -$13.5M 2 2.59% Reduced
165
M&T Bank
M&T Bank
New York
$459M -$8.46M 28 2.77% Reduced
166
MLICM
Metropolitan Life Insurance Company (MetLife)
New York
$458M -$445K 48 3.22% Reduced
167
Fidelity International
Fidelity International
Bermuda
$456M -$33.3M 11 1.45% Reduced
168
TCW Group
TCW Group
California
$447M -$180M 13 2.88% Reduced
169
Thomaspartners
Thomaspartners
Massachusetts
$446M +$9.8M 6 7.2% Increased
170
Wedge Capital Management
Wedge Capital Management
North Carolina
$445M -$21.5M 17 4.32% Reduced
171
Sanders Capital
Sanders Capital
Florida
$440M +$540K 2 4.15% Increased
172
AGF Investments Inc
AGF Investments Inc
Ontario, Canada
$439M +$16.9M 10 4.75% Increased
173
Gateway Investment Advisers
Gateway Investment Advisers
Ohio
$436M +$4.4M 14 3.64% Increased
174
ING Group
ING Group
Netherlands
$430M -$33.9M 10 2.33% Reduced
175
Manning & Napier Advisors
Manning & Napier Advisors
New York
$428M -$132M 6 1.86% Reduced