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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	CIBC World Market Toronto, Ontario, Canada	$201M	+$35.3M	21	0.64%	Increased
302	TPSF Texas Permanent School Fund Austin, Texas	$200M	-$17.1M	39	2.52%	Reduced
303	Employees Retirement System of Texas Austin, Texas	$200M	+$12.9M	22	3.16%	Increased
304	KBC Group Brussels, Belgium	$198M	+$27.4M	24	0.91%	Increased
305	Platinum Equity Advisors Beverly Hills, California	$192M	$0	1	8.55%	Maintained
306	Rafferty Asset Management New York	$192M	+$24.3M	32	1.87%	Increased
307	Letko, Brosseau & Associates Montreal, Quebec, Canada	$189M	-$10.4M	3	2.59%	Reduced
308	ARK Investment Management St. Petersburg, Florida	$188M	+$110M	12	0.5%	Increased
309	Scout Investments Kansas City, Missouri	$186M	+$42M	9	3.42%	Increased
310	Mutual of America Capital Management New York	$186M	-$6.54M	41	2.11%	Reduced
311	CRM Cramer Rosenthal McGlynn Stamford, Connecticut	$184M	+$12.5M	5	5.8%	Increased
312	Fayez Sarofim & Co Houston, Texas	$184M	-$592K	8	0.71%	Reduced
313	Virginia Retirement Systems Richmond, Virginia	$183M	+$10M	20	1.92%	Increased
314	Squarepoint New York	$183M	-$63.9M	48	1.37%	Reduced
315	Pinnacle Associates New York	$182M	-$1.52M	16	3.69%	Reduced
316	Cincinnati Financial Corp Fairfield, Ohio	$181M	$0	2	4.92%	Maintained
317	Confluence Investment Management St. Louis, Missouri	$181M	-$3.33M	4	2.69%	Reduced
318	USGIU U.S. Global Investors (USGI) San Antonio, Texas	$180M	+$55.2M	2	7.81%	Increased
319	Teachers Retirement System of the State of Kentucky Frankfort, Kentucky	$179M	+$4.93M	42	1.79%	Increased
320	Horizon Kinetics Asset Management New York	$179M	-$8.08M	12	5.96%	Reduced
321	ACM American Capital Management New York	$179M	+$145K	4	5.34%	Increased
322	United Capital Financial Advisors Irving, Texas	$177M	+$251K	18	1.07%	Increased
323	Douglas Lane & Associates New York	$174M	-$3.5M	7	2.92%	Reduced
324	Thompson Siegel & Walmsley Richmond, Virginia	$174M	+$53.6M	18	2.79%	Increased
325	SG Americas Securities New York	$173M	+$35.6M	56	0.92%	Increased