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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	MSL Mackay Shields LLC New York	$209M	-$35.6M	28	1.52%	Reduced
302	Mutual of America Capital Management New York	$209M	+$3.22M	42	2.19%	Increased
303	Wedge Capital Management Charlotte, North Carolina	$209M	-$47M	17	2.49%	Reduced
304	NI Nuance Investments Kansas City, Missouri	$208M	+$183M	3	3.88%	Increased
305	TPSF Texas Permanent School Fund Austin, Texas	$207M	-$11.2M	39	2.57%	Reduced
306	CRCM Cat Rock Capital Management Greenwich, Connecticut	$207M	-$16M	1	19.26%	Reduced
307	PCM Primavera Capital Management George Town, Cayman Islands	$205M	+$241M	1	10.97%	Increased
308	Mairs & Power Inc St Paul, Minnesota	$203M	-$10.1M	6	2.13%	Reduced
309	Confluence Investment Management St. Louis, Missouri	$202M	+$8.44M	4	2.84%	Increased
310	United Capital Financial Advisors Irving, Texas	$202M	+$3.45M	17	1.12%	Increased
311	Harel Insurance Investments & Financial Services Ramat Gan, Israel	$201M	+$60.9M	14	3.79%	Increased
312	Cambridge Investment Research Advisors Fairfield, Iowa	$193M	+$7.19M	34	1.05%	Increased
313	Mondrian Investment Partners London, United Kingdom	$192M	+$78.9M	7	4.11%	Increased
314	PineBridge Investments New York	$191M	+$17M	18	2.44%	Increased
315	Fayez Sarofim & Co Houston, Texas	$190M	-$5.92M	9	0.7%	Reduced
316	Platinum Equity Advisors Beverly Hills, California	$189M	$0	1	9.1%	Maintained
317	NSCM New South Capital Management Memphis, Tennessee	$188M	+$17.4M	3	5.52%	Increased
318	State of Alaska Department of Revenue Juneau, Alaska	$188M	+$3.62M	43	2.04%	Increased
319	HM Payson & Co Portland, Maine	$186M	+$11.5M	30	4.94%	Increased
320	SPH Steel Partners Holdings New York	$185M	$0	1	66.25%	Maintained
321	Cincinnati Financial Corp Fairfield, Ohio	$185M	$0	2	4.81%	Maintained
322	SG Americas Securities New York	$185M	-$1.57M	51	0.97%	Reduced
323	HRT Financial New York	$182M	+$142M	29	1.84%	Increased
324	Horizon Kinetics Asset Management New York	$182M	-$1.47M	11	4.11%	Reduced
325	Virginia Retirement Systems Richmond, Virginia	$181M	-$12.1M	22	1.77%	Reduced