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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
Carlyle Group
Carlyle Group
District of Columbia
$505M $0 1 13.45% Maintained
152
Aristotle Capital Management
Aristotle Capital Management
California
$504M -$15.2M 5 5.23% Reduced
153
Fiduciary Management Inc
Fiduciary Management Inc
Wisconsin
$501M -$17.7M 2 3.14% Reduced
154
Select Equity Group
Select Equity Group
New York
$492M +$5.11M 4 4.25% Increased
155
State of Michigan Retirement System
State of Michigan Retirement System
Michigan
$483M -$16.5M 26 3.81% Reduced
156
Aberdeen Asset Management
Aberdeen Asset Management
United Kingdom
$471M -$18.9M 13 1.69% Reduced
157
Institutional Capital
Institutional Capital
Illinois
$467M +$124M 3 6.43% Increased
158
M&T Bank
M&T Bank
New York
$465M -$17.6M 27 2.97% Reduced
159
Eagle Asset Management
Eagle Asset Management
Florida
$462M -$6.94M 12 3.13% Reduced
160
National Pension Service
National Pension Service
South Korea
$461M +$37.7M 11 3.69% Increased
161
Balyasny Asset Management
Balyasny Asset Management
Illinois
$458M +$133M 13 2.65% Increased
162
MLICM
Metropolitan Life Insurance Company (MetLife)
New York
$456M -$7.8M 48 3.34% Reduced
163
Teacher Retirement System of Texas
Teacher Retirement System of Texas
Texas
$456M -$43.8M 31 3.2% Reduced
164
Glenmede Trust
Glenmede Trust
Pennsylvania
$455M -$7.23M 38 2.57% Reduced
165
Amundi Asset Management US
Amundi Asset Management US
Massachusetts
$455M -$86.5M 6 1.63% Reduced
166
Brandywine Global Investment Management
Brandywine Global Investment Management
Pennsylvania
$454M -$30.9M 20 2.99% Reduced
167
Pictet Asset Management (UK)
Pictet Asset Management (UK)
United Kingdom
$454M -$19.1M 12 1.71% Reduced
168
EARNEST Partners
EARNEST Partners
Georgia
$450M -$32.2M 13 4.72% Reduced
169
Maverick Capital
Maverick Capital
Texas
$448M -$34.7M 3 5.31% Reduced
170
AGF Investments Inc
AGF Investments Inc
Ontario, Canada
$446M -$20.1M 8 4.99% Reduced
171
Gateway Investment Advisers
Gateway Investment Advisers
Ohio
$445M -$22M 14 3.95% Reduced
172
Stockbridge Partners
Stockbridge Partners
Massachusetts
$440M $0 1 21.17% Maintained
173
Calamos Advisors
Calamos Advisors
Illinois
$440M +$821K 10 3.14% Increased
174
VFA
Virtus Fund Advisers
Connecticut
$438M -$44.4M 16 3.88% Reduced
175
Public Employees Retirement Association of Colorado
Public Employees Retirement Association of Colorado
Colorado
$436M -$12.9M 42 3.54% Reduced