Who Invests? – Don't Bank on the Bomb

The 2018 update of the report

The 2018 update of the report shows that 329 financial institutions from around the world invested 525 billion USD into 20 companies involved in the production, maintenance and modernization of nuclear weapons since January 2014.

Top 10 investors

This table shows the 10 financial institutions with the largest total investments since January 2014 in the 20 companies involved in the production, maintenance and modernization of nuclear weapons identified in this report.

Is your financial institution invested?

Search the table to find your institution. Total investments are in millions of US dollars.

Investor Parent	Investor Parent Country	Grand Total USD Millions	Aecom	Aerojet Rocketdyne	Airbus Group	BAE Systems	Bechtel	Boeing	BWX Technologies	CH2M Hill	Fluor	General Dynamics	Honeywell International	Huntington Ingalls Industries	Jacobs Engineering	Larsen & Toubro	Lockheed Martin	Northrop Grumman	Orbital ATK	Safran	Serco	Thales
BlackRock	USA	38381	507	216	3762	1638		7252	262		448	3267	6513	882	426	344	5656	3444	507	2432	88	737
Capital Group	USA	36739	32		4337	3958		11081	169			3839	121	62			10447	2244		449
Vanguard	USA	35267	435	78	1081	660		8319	391		677	4144	6917	820	652	219	5898	3538	475	663	37	263
State Street	USA	33370	153	45		466		5857	87		285	2479	4216	578	286		13493	5231	171		23
JPMorgan Chase	USA	29679	1377	98	633	668	720	2898	180	220	9	1836	6511	466	50		2820	10408	214	41	530
Bank of America	USA	25851	1765	267	435	506	1100	1719	186	220	2077	2141	5099	410	497		4495	605	340	3477	512
Citigroup	USA	16489	241	29	322	872	1020	2977			1777		4530	62		402	2980	667	196	414
Evercore	USA	13712						6731				4350	2631
Wells Fargo	USA	13497	992	144		131		1867	300	220	268	1609	2978	550	701		2420	947	370
Goldman Sachs	USA	10800	47		495	497		1438			214	331	3879	173	112	17	2937	628	32
Morgan Stanley	USA	9859	504	58	442	131		1692			37		4053		90	292	2341		82	137
Wellington Management	USA	9182			748	97		844				890	3007	14			2851	731
T. Rowe Price	USA	8896		17				5787	579				2056				110	310			37
Fidelity Investments	USA	8756	734	102		483		1055	57		324	1603	1120	552	248		490	1873	115
BNP Paribas	France	8601	1213		657	131	1100	704	150	220	1959		306		1229	67		114		489	14	248
Mitsubishi UFJ Financial	Japan	8471	1381	113	386	131	600	698	36	220	1796	126	191	193	294	35	772	150	300	745	98	206
Cr_dit Agricole	France	7948	420		1335	131	720	521	150		557		447		90		1877			1081	208	411
Barclays	UK	7911	359		230	1239	300	721			630		2820		132	9	512			629	208	122
Sun Life Financial	Canada	6624				97					52		4144				984	1287		35	25
Deutsche Bank	Germany	6619		8	1029	878		816	28			68	2435	45		5		216		1079		12
Longview Asset Management	USA	6543										6543
TIAA	USA	6180	40	17	97	141		1030	43		113	871	1709	176	42		763	943	120	75
Northern Trust	USA	6076	200	19				1510	110		68	689	1326	151	153		1217	478	155
Bank of New York Mellon	USA	5628	71	29		336		1437	60		57	559	1641	122	68		632	441	175
Mizuho Financial	Japan	5173	440		262	256		866			84	126	373	200		135	1877	554
US Bancorp	USA	4946	349	115				965	110		810	66	306	322	406		1125	72	300
Ameriprise Financial	USA	4690		8		526		598				494	1776	7			1029	207	15	30
Life Insurance Corporation of India	India	4291														4291
Sumitomo Mitsui Financial	Japan	4247	860	15	262	131	120	724			211	46	306	96	39	135	472	72	177	414	45	122
Geode Capital Management	USA	4200	40	12				1063	36		67	597	1059	93	69		650	469	45
Soci_t_ G_n_rale	France	4040			2075	131		490					373							723		248
UBS	Switzerland	4014	41		164	538		861			49	351	932				819		50		51	158
Franklin Resources	USA	3870				1393			51			751	890	80		278		332			95
AXA	France	3804	115			1467		175					1125	16				895			11
Royal Bank of Scotland	UK	3657			134	131	1020	312	60			171	306	174	406	35	126	379		183	98	122
Invesco	UK	3553	156		364	1287			104		146	968			49			224	92			163
Janus Henderson Group	UK	3505						973	146			990	586	60				750
Royal Bank of Canada	Canada	3442		38	194	256		658			32	180	916		44		978		146
HSBC	UK	3302	813		513						625		306	44	192	139				183	239	248
Banco Bilbao Vizcaya Argentaria (BBVA)	Spain	3033	714		386			914	36			435	306		242
Primecap Management	USA	3018	432		1534								562		490
L&T Employees Welfare Foundation	India	2997														2997
Prudential Financial (US)	USA	2926	70		52	67		1694			10	67	287	126			353	153	47
Scotiabank	Canada	2830	982						96		211	211	160	296	802			72
Lloyds Banking Group	UK	2686	25		66	131		430			211	350	133		62		1090	90			98
BPCE Group	France	2639		11	480				54											1503		591
Toronto-Dominion Bank	Canada	2398	321		66	308			110			171	306	193	466		457
Legg Mason	USA	2077	62	17		35		143			615		839				144	92	110	20
Sociedad Estatal de Participaciones Industriales	Spain	2025			2025
Santander	Spain	1962			230			543			164		158							745		122
ANZ	Australia	1902	39		66	131		246			269	191	160		39	35	487	72			45	122
MassMutual Financial	USA	1837			999	51			36								670		6	75
Old Mutual	UK	1686										841	594						211		40
ICICI Bank	India	1551						180					28			1343
Macquarie Group	Australia	1509				107		110				38	138				140	900		76
New York Life Insurance	USA	1492	233	2	63	104		174				136	215	23			165	235	62	80
UniCredit	Italy	1479			418								160				707	72				122
Children's Investment Fund Management	UK	1469			1469
Charles Schwab	USA	1299		11				606	27		36				33		557		29
American International Group (AIG)	USA	1298			108	69		740			13	35		8			217	101	7
Standard Chartered	UK	1285	39		66			246			211		306			186				231
Power Financial Corporation	Canada	1270						53	34					43	67			1053		20
Commerzbank	Germany	1265	203		198	131		299												183	45	206
Westpac	Australia	1232	40		66			180			100		846
Cr_dit Mutuel CIC Group	France	1114	9		134	131											85		29	604		122
State Farm	USA	1107			43	105		95			72	156	257				242	137
SunTrust	USA	1101	393	170				90						148					300
AQR Capital Management	USA	1093							59					391	99			467	77
LSV Asset Management	USA	1059				220		595			48			57					139
Northwestern Mutual Life Insurance	USA	1037	43		47	86		169				118					310	175	9	80
Allianz	Germany	1035	16			137		157			60		151	91			152	108	60	103
MetLife	USA	1026				121		150			18		123	11			238	228	21	116
Unit Trust of India	India	977														977
Government Pension Fund - Global	Norway	944	43			386					75			87		117						236
Legal & General	UK	933				595					37				39			226			36
ING Group	Netherlands	895			66						829
Housing Development Finance Corporation	India	858														858
Nationwide Mutual Insurance	USA	833										130	133	47			214	263	46
Huntington Bancshares	USA	818						818
Regions Financial	USA	795		73					74		501								147
Greenhaven Associates	USA	794	52		742
Credit Suisse	Switzerland	783			66			356				30		122		95		114
Arovid Associates	USA	751										564							187
Silchester International Investors	UK	743				743
Artisan Partners	USA	691				241			200		119				131
The London Company of Virginia	USA	688										505							183
Industrial and Commercial Bank of China	China	677			66			276					265		70
Prudential (UK)	UK	674	51	19		382		75						18			129
Dimensional Fund Advisors	USA	662	154	46					38		106			63	173				82
State Bank of India	India	657	34					180								337			106
Manulife Financial	Canada	635	15		87	76		74				27		107			249
DBS	Singapore	624			66			300					160								98
Fiduciary Management	USA	621											621
PNC Financial Services	USA	616	50						110			46		193	70				147
Allstate	USA	610	16		43	73		133				58		26			163	76	22
Orix Corporation	Japan	610									83	383		144
Fifth Third Bancorp	USA	607	229	45										96	90				147
Affiliated Managers Group	USA	601			325				160										116
Intesa Sanpaolo	Italy	585						197			110		240								38
Riyad Bank	Saudi Arabia	581					300	150				46					85
National Bank of Abu Dhabi	UAE	568				131		160				46						64			45	122
Thales SA Employees Stock Ownership Plan	France	556																				556
Lazard	USA	555											555
Waddell & Reed Financial	USA	553				47								18			488
BMO Financial Group	Canada	548	327											151	70
Fred Alger & Company	USA	529											529
BB&T	USA	515	159						110					96	44				106
White Mountains Insurance	UK	493			75	132		81									94	111
Ullink	France	490		38					30					102				320
First Eagle Investment Management	USA	477												24					453
William Blair & Company	USA	474				129			345
DZ Bank	Germany	470			66													404
Bank of China	China	460						300					160
BayernLB	Germany	454			66			300					88
General Insurance Corporation of India	India	447														447
Davis Selected Advisers	USA	429																		429
Commonwealth Bank of Australia	Australia	403			66	131							73			35					98
Schroders	UK	395				334								61
Fidelity International	UK	387	24			129									122						112
Guggenheim Capital	USA	357									48	35		7	43		104	92	8	20
GIC	Singapore	356														356
Reliance Group	India	355														355
Voya Financial	USA	347	159					102											61	25
Capital One Financial	USA	337	241											96
Neuberger Berman	USA	323										323
Principal Financial Group	USA	315		12		41								75			127		35	25
Axis Bank	India	313														313
Victory Capital	USA	303		86					80						137
Standard Life Aberdeen	UK	302				238									47						17
Thrivent Financial	USA	297	30			30								89			110		38
Oddo & Cie	France	295																		295
Liberty Mutual Insurance	USA	291			94	74						34					80		9
Ruane, Cunniff & Goldfarb	USA	283													283
American Family	USA	278										93					82	103
Keycorp	USA	257	20	30					74										133
Aviva	UK	252	44			148														60
HDFC Bank	India	251														251
CI Financial	Canada	250	34								216
Marathon Asset Management	UK	229				138															91
Aegon	Netherlands	228						114									114
Danske Bank	Denmark	226			66								160
M&T Bank	USA	223		23						200
Viel & Cie	France	218														218
American Equity	USA	209			60	39		55				55
Skandinaviska Enskilda Banken	Sweden	197			66	131
Trust Group	India	188														188
Travelers	USA	185						91			8	63		10					13
GGCP	USA	177		177
Mega Financial	Taiwan	177	136										41
Lord, Abbett & Co	USA	176	87											29	60
Discovery Capital Management	USA	174							67					107
Williams Capital Group	USA	170						77					64				29
MSD Partners	USA	160																			160
Jupiter Fund Management	UK	160				160
Munich Re	Germany	148	148
State Fund	USA	147										60	87
Siemens	Germany	134												134
Lyrical Asset Management	USA	131	131
American United Mutual Insurance	USA	121				33					41	30		17
Western & Southern Financial	USA	118															104		14
Drexel Hamilton	USA	115						21				50					29	15
Citizens Financial Group	USA	115		65											50
Leucadia National Corporation	USA	113		113
Helaba	Germany	111			66																45
Alyeska Investment Group	USA	108																	108
Eastern Bank	USA	106																	106
People's United Financial	USA	106																	106
Bank Hapoalim	Israel	106																	106
Synovus Financial Corporation	USA	106																	106
First Niagara Financial	USA	106																	106
ABP	Netherlands	104									40				64
NewSouth Capital Management	USA	103		103
Comerica	USA	101	59														6		36
Two Sigma Investments	USA	101									101
Loop Capital	USA	100						64						25			11
Abu Dhabi Investment Council	UAE	100						100
Blue Harbour Group	USA	97							97
Shapiro Capital Management	USA	95							95
National Rural Electric Cooperative Association	USA	95							48					47
New Jersey Department of the Treasury	USA	89	57																32
Steel Partners Holdings	USA	87		87
LKP Group	India	84														84
Holowesko Partners	Bahamas	82									82
Majedie Asset Management	UK	82																			82
Cardinal Capital Management	USA	80							80
Blaylock Beal Van	USA	79						26				20					18	15
Orbis Group	UK	79																			79
Lebenthal Holdings	USA	75						64									11
Teacher Retirement System of Texas	USA	73												73
Pacific Asset Management	USA	73				42					13									18
Pzena Investment Management	USA	72	72
First Trust Advisors	USA	72							29					43
Bessemer Group	USA	70									70
Glenmede	USA	70																	70
SPA Group	India	67														67
KfW	Germany	66			66
Landesbank Baden-WÙrttemberg (LBBW)	Germany	66			66
Alkeon Capital Management	USA	62							62
Burgundy Asset Management	Canada	59							59
E.SUN Financial	Taiwan	59	30																29
Marshall Wace	UK	59							24						35
Hartford Financial Services	USA	58		3		51													4
Laurion Capital Management	USA	56							56
Mischler Financial Group	USA	56						21									18	17
Banco de Sabadell	Spain	56	27																29
United Services Automobile Association	USA	55									20									35
Westwood Holdings Group	USA	55												55
Carlson Capital	USA	52							52
A.K. Group	India	51														51
Stephens Investment Management Group	USA	51																	51
Focus Financial Partners	USA	51													51
Modern Woodmen of America	USA	50									25									25
Muzinich & Co	USA	49	49
Hua Nan Financial	Taiwan	49	20																29
Land Bank of Taiwan	Taiwan	49	20																29
Inversiones Mobiliarias Advalor	Spain	48																			48
Wedge Capital Management	USA	48	48
Boston Private	USA	47							47
American Financial Group	USA	47				35					12
Stifel Financial	USA	47	18																29
American Century Investments	USA	46													46
Poplar Forest Capital	USA	46	46
Zions Bancorporation	USA	45	45
First Financial Holding	Taiwan	45	45
KBC Group	Belgium	45																			45
Taurus Group	India	44														44
Arrowstreet Capital	USA	44							44
State Teachers Retirement System of Ohio	USA	43	43
Taiwan Financial Holding	Taiwan	43	43
Cacti Asset Management	USA	42													42
Ariel Capital Holdings	USA	42									42
Kingstown Capital Management	USA	42		42
SAR Holding	USA	41						23									18
Siebert Brandford Shank Financial	USA	41						23									18
Loews Corporation	USA	40				30					10
Aetna	USA	40	40
Taiwan Business Bank	Taiwan	40	40
Taiwan Cooperative Financial	Taiwan	39	39
Letko Brosseau & Associates	Canada	38									38
American National Insurance	USA	38									38
Madison Investment	USA	37													37
Odey Asset Management	UK	36																			36
Old Republic International	USA	36									19			8					9
Citizens Bank & Trust	USA	36							36
Hahn Capital Management	USA	36													36
Hancock Holding	USA	36							36
Sumitomo Mitsui Trust	Japan	35														35
Export Development Canada	Canada	35														35
Central Pacific Financial Corporation	USA	35	6																29
Bank of Ireland	Ireland	35	35
Edelweiss Financial Services	India	34														34
Fairview Capital Investment Management	USA	34									34
Academy Securities	USA	34						16									18
D.E. Shaw & Co.	USA	31							31
CNO Financial Group	USA	30				30
Smith Asset Management Group	USA	30							30
National Western Life Group	USA	30									30
Cascade Bancorp	USA	29																	29
BancPlus	USA	29																	29
Fubon Group	Taiwan	29																	29
Raymond James Financial	USA	29																	29
Banner Bank	USA	29																	29
California First National Bancorp	USA	29																	29
Amalgamated Bank of Chicago	USA	29																	29
Associated Banc-Corp	USA	29																	29
Hotchkis & Wiley Capital Management	USA	28	19	9
Luminus Management	USA	25	25
Divine Capital Markets	USA	24						24
Cathay Life Insurance	Taiwan	24									24
Eaton Vance	USA	24												11					13
CL King & Associates	USA	24						6									18
Great Pacific Securities	USA	23						23
Rothschild Group	France	21		21
Intrinsic Value Investors	UK	21																			21
ICAP	India	20														20
WoodmenLife	USA	20																		20
Chiba Bank	Japan	20	20
Guzman & Co	USA	20						20
Apto Partners	USA	20						20
National Life Group	USA	20																		20
CastleOak Securities	USA	20						20
Telsey Advisory Group	USA	20						20
Auto-Owners Insurance	USA	20									20
SinoPac Holdings	Taiwan	20	20
Bank of Communications	China	20	20
Winslow Asset Management	USA	19		19
Groupama	France	19																		19
Serco Group Employee Benefit Trust	UK	17																			17
Banque Degroof Petercam	Belgium	16									16
Manning & Napier	USA	16									16
Foundation Asset Management	USA	16																			16
Anbang Insurance Group	China	16	16
Millennium Management	USA	15		15
FirstBank	USA	15	15
First Midwest Bancorp	USA	15	15
CAVU Securities	USA	14						14
Ardevora Asset Management	UK	14																			14
Pacific Century Group	China	13									13
Magallanes	Spain	11																			11
Julius Baer	Switzerland	11									11
Corpbay Financial Services	India	11														11
Shenkman Capital Management	USA	10																	10
Capital Bank	USA	10	10
Ohio Public Employees Retirement System	USA	10		10
Cathay General Bancorp	USA	10	10
American Savings Bank	USA	9	9
Paloma Partners	USA	9		9
Cov_a	France	9																				9
AG2R	France	8									8
Mata Securities India	India	8														8
Knights of Columbus	USA	8									8
BOK Financial	USA	8	8
Zeo Capital Advisors	USA	6																	6
Cantor Fitzgerald	USA	6						6
Altius Finserv Private	India	6														6
Tribal Capital Partners	USA	5						5
MFR	USA	5						5
Penserra Capital Management	USA	5						5
Carlyle Group	USA	5																	5
Denver Investments	USA	4																	4
CIBC	Canada	3											3
Mackie Research Financial	Canada	3						3
Siebert Capital	USA	3						3
Goto Capital Markets	USA	3						3
Nomura	Japan	3		3
MBS	USA	3						3
Yes Bank	India	2														2
IDFC	India	1														1
Equator Corporate Services	India	1														1

You can also sort by the weapons producers (scroll to see more).

2018 Investors, per country

The country profiles are easy to use fact sheets that include a summary of the methodology, the producers list, and more. They provide detailed information on the financial institutions headquartered in each country.

For information about US mutual funds, see https://futureoflife.org/invest

[toggle title=”2016 Report”]

The 2016 update of the report shows that 390 financial institutions from around the world invested 498 billion USD into 27 companies involved in the production, maintenance and modernization of nuclear weapons since January 2013.

Download the full Hall of Shame.

Top 10 investors

This chart shows the 10 financial institutions with the largest total investments since January 2013 in the 27 companies involved in the production, maintenance and modernization of nuclear weapons identified in this report .

2016 Investors, per country

[/toggle]

[toggle title=”The 2015 update of the report”]

The 2015 update of the report shows that 382 private and public financial institutions from around the world invested 493 billion USD into 26 companies involved in the production, maintenance and modernization of nuclear weapons since January 2012.

2015 Investors, alphabetically

A | B | C | D | E | F | G | H | I | J | K | L | M | N | O | P | R | S | T | U | V | W | Y

2015 Investors, per country

The country profiles are easy to use fact sheets that include a summary of the methodology, the producers list, and more.

[/toggle] [toggle title=”The 2014 update of the report”]

2014 Investors, alphabetically

A | B | C | D | E | F | G | H | I | J | K | L | M | N | O | P | R | S | T | U | V | W | Y

2014 Investors, per country

The country profiles are easy to use fact sheets that include a summary of the methodology, the producers list, and more.

[/toggle] [toggle title=”2013 Country Profiles”]

[/toggle]