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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	Zurich Insurance Group Zurich, Switzerland	$150M	-$104M	4	2.35%	Reduced
327	Great Lakes Advisors Chicago, Illinois	$150M	+$6.62M	18	3.27%	Increased
328	Tocqueville Asset Management New York	$150M	-$9.78M	15	3.05%	Reduced
329	Employees Retirement System of Texas Austin, Texas	$148M	+$13.2M	8	2.25%	Increased
330	State of Alaska Department of Revenue Juneau, Alaska	$148M	-$9.65M	42	1.98%	Reduced
331	Yousif Capital Management Bloomfield Hills, Michigan	$146M	-$5.13M	41	2.08%	Reduced
332	Crawford Investment Counsel Atlanta, Georgia	$146M	-$1.17M	11	3.45%	Reduced
333	Cincinnati Financial Corp Fairfield, Ohio	$146M	$0	2	3.99%	Maintained
334	AAM Ardevora Asset Management London, United Kingdom	$146M	+$80.9M	6	2.62%	Increased
335	Rathbones Group Liverpool, United Kingdom	$145M	-$731K	10	1.79%	Reduced
336	MIS Morningstar Investment Services Chicago, Illinois	$142M	-$3.62M	4	2%	Reduced
337	Bradley Foster & Sargent Hartford, Connecticut	$141M	+$712K	12	3.91%	Increased
338	Commonwealth of Pennsylvania Public School Employees Retirement System Harrisburg, Pennsylvania	$141M	-$1.49M	39	1.42%	Reduced
339	Utah Retirement Systems Salt Lake City, Utah	$140M	+$294K	27	2.33%	Increased
340	JP Jana Partners New York	$140M	+$5.3M	2	11.96%	Increased
341	Mairs & Power Inc St Paul, Minnesota	$140M	+$1.51M	7	1.76%	Increased
342	Scharf Investments Los Gatos, California	$138M	+$3.56M	1	5.22%	Increased
343	Axa Paris, France	$138M	+$4.4M	17	0.54%	Increased
344	Scout Investments Kansas City, Missouri	$137M	-$29.8M	7	2.84%	Reduced
345	Wedge Capital Management Charlotte, North Carolina	$135M	-$79.7M	16	2.29%	Reduced
346	Harel Insurance Investments & Financial Services Ramat Gan, Israel	$134M	-$5.41M	16	3.29%	Reduced
347	Ferguson Wellman Capital Management Portland, Oregon	$134M	+$14.6M	10	5.23%	Increased
348	Rubric Capital Management (New York) New York	$134M	+$24M	2	6.73%	Increased
349	HMP HS Management Partners New York	$133M	-$41.6M	1	6.03%	Reduced
350	INTECH Investment Management West Palm Beach, Florida	$133M	-$70M	19	1%	Reduced