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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	NI Nuance Investments Kansas City, Missouri	$219M	-$11.7M	3	3.9%	Reduced
302	Mutual of America Capital Management New York	$217M	+$4.57M	42	2.14%	Increased
303	Davenport & Co Richmond, Virginia	$217M	+$37.5M	13	1.67%	Increased
304	Zurich Cantonal Bank Zurich, Switzerland	$216M	-$11.8M	50	1.2%	Reduced
305	DFO Duquesne Family Office New York	$215M	-$13.4M	3	5.33%	Reduced
306	Scout Investments Kansas City, Missouri	$215M	+$34.8M	9	3.2%	Increased
307	Confluence Investment Management St. Louis, Missouri	$215M	+$3.25M	5	2.86%	Increased
308	HRT Financial New York	$215M	+$37.1M	33	1.97%	Increased
309	British Columbia Investment Management Victoria, British Columbia, Canada	$212M	+$28.2M	19	1.31%	Increased
310	TPSF Texas Permanent School Fund Austin, Texas	$212M	-$784K	39	2.46%	Reduced
311	SAM Scopus Asset Management New York	$212M	+$35.9M	13	2.76%	Increased
312	Harel Insurance Investments & Financial Services Ramat Gan, Israel	$211M	+$3.69M	18	4.65%	Increased
313	Bowen Hanes & Co Ponte Vedra Beach, Florida	$208M	-$6.47M	7	6.32%	Reduced
314	Fayez Sarofim & Co Houston, Texas	$207M	+$2.41M	9	0.69%	Increased
315	Squarepoint New York	$206M	+$66.2M	49	0.78%	Increased
316	Brandywine Global Investment Management Philadelphia, Pennsylvania	$205M	+$44.8M	10	1.52%	Increased
317	HM Payson & Co Portland, Maine	$200M	+$4.54M	30	4.87%	Increased
318	Employees Retirement System of Texas Austin, Texas	$200M	-$31.1M	24	2.43%	Reduced
319	MVIP Mar Vista Investment Partners Los Angeles, California	$199M	-$26.7M	2	4.89%	Reduced
320	Horizon Kinetics Asset Management New York	$198M	+$11.4M	10	4.03%	Increased
321	Mairs & Power Inc St Paul, Minnesota	$196M	-$8.26M	6	1.94%	Reduced
322	Letko, Brosseau & Associates Montreal, Quebec, Canada	$194M	+$4.32M	4	2.59%	Increased
323	SCC Spring Creek Capital Wichita, Kansas	$193M	-$41.9M	5	9.6%	Reduced
324	Davis Selected Advisers Tucson, Arizona	$192M	-$184M	1	0.79%	Reduced
325	CRM Cramer Rosenthal McGlynn Stamford, Connecticut	$191M	+$33.9M	5	6.13%	Increased