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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
326	SPH Steel Partners Holdings New York	$160M	$0	1	33.79%	Maintained
327	TPSF Texas Permanent School Fund Austin, Texas	$160M	+$2.04M	39	2.55%	Increased
328	ACB Aristotle Capital Boston Boston, Massachusetts	$158M	+$29.5K	5	4.72%	Increased
329	BHH Baker Hughes Holdings Houston, Texas	$158M	$0	1	100%	Maintained
330	FP FPR Partners San Francisco, California	$158M	-$2.09M	1	6.48%	Reduced
331	Menora Mivtachim Holdings Ramat Gan, Israel	$158M	+$25.6M	3	2.87%	Increased
332	DePrince Race & Zollo Inc (DRZ) Winter Park, Florida	$157M	-$4.06M	6	3.62%	Reduced
333	CCP Clough Capital Partners Boston, Massachusetts	$156M	+$48.1M	5	19.32%	Increased
334	Stephens Investment Management Group Houston, Texas	$155M	+$14.3M	7	2.87%	Increased
335	Rathbones Group Liverpool, United Kingdom	$155M	+$2.06M	10	1.78%	Increased
336	Bridgewater Associates Westport, Connecticut	$155M	-$79.1M	16	0.66%	Reduced
337	Commonwealth of Pennsylvania Public School Employees Retirement System Harrisburg, Pennsylvania	$154M	+$11.2M	39	1.65%	Increased
338	Bradley Foster & Sargent Hartford, Connecticut	$154M	-$2.43M	12	3.96%	Reduced
339	CIBC Asset Management Toronto, Ontario, Canada	$153M	+$17.3M	30	0.62%	Increased
340	Causeway Capital Management Los Angeles, California	$153M	+$3.55M	2	3.81%	Increased
341	Great Lakes Advisors Chicago, Illinois	$152M	-$5.83M	18	3.01%	Reduced
342	Cincinnati Financial Corp Fairfield, Ohio	$152M	$0	2	3.89%	Maintained
343	CIP Champlain Investment Partners Burlington, Vermont	$151M	+$89.1M	2	0.98%	Increased
344	Utah Retirement Systems Salt Lake City, Utah	$151M	-$530K	27	2.41%	Reduced
345	Scharf Investments Los Gatos, California	$150M	-$2.77M	1	5.13%	Reduced
346	Employees Retirement System of Texas Austin, Texas	$149M	-$3.54M	22	2.12%	Reduced
347	Welch & Forbes Boston, Massachusetts	$147M	+$4.04M	11	2.69%	Increased
348	Mairs & Power Inc St Paul, Minnesota	$147M	-$5.79M	6	1.76%	Reduced
349	Man Group London, United Kingdom	$146M	-$143M	0	–	Closed
350	Harel Insurance Investments & Financial Services Ramat Gan, Israel	$146M	-$5.68M	17	3.08%	Reduced