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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

Defense Tech & C4ISR Drones & Counter-Drone Military Shipbuilding Munitions Restocking

#	Name	Holding	Trade Value	Theme Stocks	% of Portfolio	Status
251	Calamos Advisors Naperville, Illinois	$206M	-$54.3M	6	1.29%	Reduced
252	Cambiar Investors Denver, Colorado	$205M	-$7.28M	2	3.36%	Reduced
253	VVP Vulcan Value Partners Birmingham, Alabama	$205M	+$30.8M	5	6.27%	Increased
254	Snyder Capital Management San Francisco, California	$203M	-$20.3M	5	10.52%	Reduced
255	CLM ClearBridge LLC (Maryland) Baltimore, Maryland	$201M	-$51.4M	4	4.14%	Reduced
256	SM Seminole Management New York	$200M	+$15.6M	5	12.64%	Increased
257	Commerce Bank Kansas City, Missouri	$198M	+$224K	11	3.58%	Increased
258	Nomura Holdings Tokyo, Japan	$198M	+$77.5M	24	1.19%	Increased
259	Employees Retirement System of Texas Austin, Texas	$196M	-$5.76M	20	2.43%	Reduced
260	CBOA Commonwealth Bank of Australia Sydney, NSW, Australia	$196M	-$1.42M	23	1.42%	Reduced
261	Select Equity Group New York	$195M	-$46.3M	2	2.64%	Reduced
262	Wilmington Trust Wilmington, Delaware	$192M	-$2.06M	19	3.36%	Reduced
263	Ontario Teachers' Pension Plan Board Toronto, Ontario, Canada	$190M	-$19.3M	9	1.41%	Reduced
264	CRM Cramer Rosenthal McGlynn Stamford, Connecticut	$189M	-$87.8M	6	1.42%	Reduced
265	Cullen Capital Management New York	$188M	+$5.14M	4	5.32%	Increased
266	Asset Management One Tokyo, Japan	$188M	+$3.48M	22	2.82%	Increased
267	Glenview Capital Management New York	$186M	$0	1	1.57%	Maintained
268	Wellcome Trust London, United Kingdom	$186M	$0	1	6.14%	Maintained
269	PHAM Pacific Heights Asset Management San Francisco, California	$186M	-$35.3M	4	5.07%	Reduced
270	Hartford Investment Management Co (HIMCO) Hartford, Connecticut	$186M	-$6.62M	15	4.02%	Reduced
271	Bessemer Group Woodbridge, New Jersey	$184M	-$22.6M	23	1.49%	Reduced
272	Silvercrest Asset Management New York	$183M	+$1.35M	13	3.51%	Increased
273	BHG Blue Harbour Group Greenwich, Connecticut	$182M	$0	2	13.66%	Maintained
274	WBC Westpac Banking Corp Sydney, Australia	$181M	-$24.5M	16	2.26%	Reduced
275	PointState Capital New York	$181M	-$144M	1	3.09%	Reduced