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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
301	Davenport & Co Richmond, Virginia	$195M	+$18.5M	13	2.41%	Increased
302	Norinchukin Bank Tokyo, Japan	$194M	+$23M	13	3.25%	Increased
303	BRIM Broad Run Investment Management Arlington, Virginia	$194M	+$1.69M	1	6.28%	Increased
304	Mawer Investment Management Calgary, Alberta, Canada	$192M	+$74.1M	4	1.61%	Increased
305	Teachers Retirement System of the State of Kentucky Frankfort, Kentucky	$191M	-$22.5M	41	2.31%	Reduced
306	Bridgeway Capital Management Houston, Texas	$190M	+$1.92M	24	2.04%	Increased
307	MCMC Matrix Capital Management Company Portsmouth, New Hampshire	$190M	-$29.5M	1	6.6%	Reduced
308	KP Kiltearn Partners Edinburgh, United Kingdom	$189M	+$84.5M	1	4.58%	Increased
309	Tocqueville Asset Management New York	$187M	-$34M	14	2.38%	Reduced
310	Letko, Brosseau & Associates Montreal, Quebec, Canada	$187M	-$24.8M	3	1.76%	Reduced
311	Frontier Capital Management Boston, Massachusetts	$185M	+$113M	5	1.34%	Increased
312	Pinnacle Associates New York	$184M	-$57.3K	13	3.61%	Reduced
313	NN Investment Partners Holdings The Hague, Netherlands	$183M	+$11.4M	12	1.32%	Increased
314	Markel Group Glen Allen, Virginia	$182M	+$1.9M	8	3.46%	Increased
315	Balyasny Asset Management Chicago, Illinois	$181M	-$567M	27	0.76%	Reduced
316	Saturna Capital Bellingham, Washington	$181M	-$5.8M	5	5.74%	Reduced
317	Mutual of America Capital Management New York	$180M	-$10M	29	2.78%	Reduced
318	Gofen & Glossberg Chicago, Illinois	$179M	-$12.4M	9	6.7%	Reduced
319	Beutel, Goodman & Co Toronto, Ontario, Canada	$178M	-$28.4M	2	1.35%	Reduced
320	Pendal Group Sydney, Australia	$177M	-$13.8M	12	2.28%	Reduced
321	QIM Quantitative Investment Management Charlottesville, Virginia	$177M	+$48.3M	17	3.07%	Increased
322	Waverton Investment Management London, United Kingdom	$177M	-$4.88M	3	10.36%	Reduced
323	MVIP Mar Vista Investment Partners Los Angeles, California	$176M	-$52.7M	2	7.01%	Reduced
324	Eagle Capital Management (New York) New York	$176M	-$29.6M	1	0.65%	Reduced
325	MLICM Metropolitan Life Insurance Company (MetLife) New York	$175M	-$1.34M	47	2.47%	Reduced