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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
176
CIBC Private Wealth Group
CIBC Private Wealth Group
Georgia
$407M -$22.9M 7 3.18% Reduced
177
BCPEM
Bain Capital Public Equity Management
Massachusetts
$406M +$32.1M 2 11.63% Increased
178
Bessemer Group
Bessemer Group
New Jersey
$403M -$105M 21 2.24% Reduced
179
Sanders Capital
Sanders Capital
Florida
$403M -$59.1M 2 3.69% Reduced
180
Capital Guardian Trust
Capital Guardian Trust
California
$400M -$10.9M 16 3.11% Reduced
181
Fifth Third Bancorp
Fifth Third Bancorp
Ohio
$395M +$28.7M 44 3.47% Increased
182
Select Equity Group
Select Equity Group
New York
$395M -$1.53M 4 3.78% Reduced
183
Baillie Gifford & Co
Baillie Gifford & Co
United Kingdom
$394M -$37.8M 3 0.69% Reduced
184
VFA
Virtus Fund Advisers
Connecticut
$388M -$53.8M 20 3.41% Reduced
185
KeyBank National Association
KeyBank National Association
Ohio
$385M +$5.47M 19 2.59% Increased
186
Columbia Wanger Asset Management
Columbia Wanger Asset Management
Illinois
$377M -$182M 6 3.78% Reduced
187
National Pension Service
National Pension Service
South Korea
$376M +$22.4M 11 3.95% Increased
188
First Trust Advisors
First Trust Advisors
Illinois
$372M +$7.36M 39 0.97% Increased
189
Letko, Brosseau & Associates
Letko, Brosseau & Associates
Quebec, Canada
$369M -$73.3M 4 3.82% Reduced
190
Mairs & Power Inc
Mairs & Power Inc
Minnesota
$369M -$19.5M 5 5.53% Reduced
191
Federated Hermes
Federated Hermes
Pennsylvania
$365M +$6.68M 37 1.16% Increased
192
FP
FPR Partners
California
$361M +$41.2M 1 7.8% Increased
193
British Columbia Investment Management
British Columbia Investment Management
British Columbia, Canada
$350M +$3.01M 11 3.37% Increased
194
Nuveen
Nuveen
North Carolina
$346M -$78.3M 26 1.78% Reduced
195
Alyeska Investment Group
Alyeska Investment Group
Illinois
$343M -$13.4M 8 3.64% Reduced
196
Factory Mutual Insurance
Factory Mutual Insurance
Massachusetts
$342M -$19.6M 6 4.59% Reduced
197
Edge Asset Management
Edge Asset Management
Washington
$340M -$19.2M 8 3.3% Reduced
198
BHG
Blue Harbour Group
Connecticut
$336M $0 1 10.74% Maintained
199
JP Morgan Private Wealth Advisors
JP Morgan Private Wealth Advisors
California
$333M +$40.5M 19 3.41% Increased
200
Aperio Group
Aperio Group
California
$332M +$20.9M 45 3.04% Increased