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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	Arizona State Retirement System Phoenix, Arizona	$262M	-$12.5M	39	3.22%	Reduced
252	Tocqueville Asset Management New York	$257M	-$28.2M	27	3.45%	Reduced
253	MVIP Mar Vista Investment Partners Los Angeles, California	$254M	+$10.5M	4	14.78%	Increased
254	CBOA Commonwealth Bank of Australia Sydney, NSW, Australia	$248M	+$24.9M	24	1.7%	Increased
255	TSU TD Securities (USA) New York	$245M	+$5.82M	11	4.12%	Increased
256	Commerce Bank Kansas City, Missouri	$240M	+$13.7M	11	4.15%	Increased
257	Burgundy Asset Management Toronto, Ontario, Canada	$237M	+$119M	4	2.95%	Increased
258	SC Stralem & Co New York	$232M	-$23.3M	3	6.96%	Reduced
259	CCI Columbus Circle Investors	$228M	+$31.9M	5	1.55%	Increased
260	Employees Retirement System of Texas Austin, Texas	$226M	+$2.41M	20	2.91%	Increased
261	BHG Blue Harbour Group Greenwich, Connecticut	$225M	+$33.9M	3	14.65%	Increased
262	Calamos Advisors Naperville, Illinois	$224M	-$6.61M	6	1.42%	Reduced
263	Great Lakes Advisors Chicago, Illinois	$223M	-$20.8M	11	10.14%	Reduced
264	Teachers Retirement System of the State of Kentucky Frankfort, Kentucky	$223M	-$33.1M	40	2.59%	Reduced
265	VVP Vulcan Value Partners Birmingham, Alabama	$222M	-$13.5M	5	4.66%	Reduced
266	Cullen Capital Management New York	$221M	+$1.59M	4	5.8%	Increased
267	Wellcome Trust London, United Kingdom	$219M	$0	1	5.79%	Maintained
268	ABI Abrams Bison Investments Bethesda, Maryland	$218M	-$61.8M	1	15.88%	Reduced
269	Fiera Capital (Canada) Montreal, Quebec, Canada	$217M	+$106M	13	1.8%	Increased
270	Wilmington Trust Wilmington, Delaware	$217M	-$2.61M	17	3.66%	Reduced
271	APG Asset Management US New York	$215M	+$2.33M	1	2.41%	Increased
272	GA Greenhaven Associates Purchase, New York	$211M	-$28.5M	1	4.43%	Reduced
273	HA Heartland Advisors Milwaukee, Wisconsin	$211M	-$30.8M	9	3.66%	Reduced
274	CRM Cramer Rosenthal McGlynn Stamford, Connecticut	$210M	-$7.44M	6	1.5%	Reduced
275	Bank of Nova Scotia Toronto, Ontario, Canada	$208M	+$116M	11	0.88%	Increased