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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
State of Michigan Retirement System
State of Michigan Retirement System
Michigan
$406M -$64.3M 24 3.22% Reduced
177
KeyBank National Association
KeyBank National Association
Ohio
$401M +$1.43M 18 2.66% Increased
178
BP
Berkshire Partners
Massachusetts
$399M +$95M 1 82.48% Increased
179
Gotham Asset Management
Gotham Asset Management
New York
$395M +$151M 25 4.43% Increased
180
National Pension Service
National Pension Service
South Korea
$394M +$15M 12 3.95% Increased
181
Millennium Management
Millennium Management
New York
$393M -$309M 42 0.98% Reduced
182
Wedge Capital Management
Wedge Capital Management
North Carolina
$392M -$63M 12 4.08% Reduced
183
VFA
Virtus Fund Advisers
Connecticut
$391M -$4.43M 16 3.45% Reduced
184
Sanders Capital
Sanders Capital
Florida
$389M -$4.87M 2 3.36% Reduced
185
Select Equity Group
Select Equity Group
New York
$388M -$4.28M 4 3.25% Reduced
186
Capital Guardian Trust
Capital Guardian Trust
California
$388M +$12.4M 17 2.98% Increased
187
Mairs & Power Inc
Mairs & Power Inc
Minnesota
$383M -$7.74M 5 5.44% Reduced
188
JP Morgan Private Wealth Advisors
JP Morgan Private Wealth Advisors
California
$371M +$33.2M 21 3.55% Increased
189
BCPEM
Bain Capital Public Equity Management
Massachusetts
$370M -$39.4M 2 13.76% Reduced
190
Letko, Brosseau & Associates
Letko, Brosseau & Associates
Quebec, Canada
$369M -$14.3M 4 3.64% Reduced
191
Bessemer Group
Bessemer Group
New Jersey
$367M -$49.7M 20 2.07% Reduced
192
British Columbia Investment Management
British Columbia Investment Management
British Columbia, Canada
$364M +$7.86M 11 3.42% Increased
193
Edge Asset Management
Edge Asset Management
Washington
$363M +$11.4M 8 3.48% Increased
194
Baillie Gifford & Co
Baillie Gifford & Co
United Kingdom
$359M +$5.17M 3 0.63% Increased
195
BHG
Blue Harbour Group
Connecticut
$354M $0 1 11.91% Maintained
196
Vaughan Nelson Investment Management
Vaughan Nelson Investment Management
Texas
$353M +$15.9M 6 4.46% Increased
197
Maverick Capital
Maverick Capital
Texas
$350M +$53.2M 3 5.53% Increased
198
Comerica Bank
Comerica Bank
Texas
$347M +$3.34M 44 3.1% Increased
199
BNP Paribas Financial Markets
BNP Paribas Financial Markets
France
$346M +$120M 44 1.46% Increased
200
Aperio Group
Aperio Group
California
$345M +$7.99M 45 2.95% Increased