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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
351	Nissay Asset Management Tokyo, Japan	$178M	+$4.52M	19	1.43%	Increased
352	Confluence Investment Management St. Louis, Missouri	$178M	-$29.7M	4	2.51%	Reduced
353	MIS Morningstar Investment Services Chicago, Illinois	$175M	+$78.9M	9	0.99%	Increased
354	Factory Mutual Insurance Waltham, Massachusetts	$175M	$0	6	2.18%	Maintained
355	CC Cannell & Co New York	$175M	+$6.41M	9	5.55%	Increased
356	Johnson Investment Counsel Cincinnati, Ohio	$175M	+$21.8M	14	2.06%	Increased
357	Czech National Bank Prague, Czech Republic	$173M	-$268K	14	2.47%	Reduced
358	ING Group Amsterdam, Netherlands	$171M	+$2.3M	16	1.37%	Increased
359	Axa Paris, France	$169M	+$1.79M	20	0.55%	Increased
360	Xponance Philadelphia, Pennsylvania	$168M	+$5.03M	35	2.02%	Increased
361	PineBridge Investments New York	$168M	-$35.2M	14	1.56%	Reduced
362	Brown Brothers Harriman & Co New York	$168M	-$74.6M	26	1.4%	Reduced
363	Allianz Asset Management Munich, Germany	$166M	-$29.9M	29	0.27%	Reduced
364	CIBC World Markets New York	$165M	+$67M	18	0.9%	Increased
365	SFM Systematic Financial Management Teaneck, New Jersey	$164M	-$4.92M	8	4.87%	Reduced
366	Mairs & Power Inc St Paul, Minnesota	$164M	-$2.04M	8	1.73%	Reduced
367	D.A. Davidson & Co Great Falls, Montana	$164M	+$8.97M	15	1.61%	Increased
368	GIM GE Investment Management Norwalk, Connecticut	$164M	+$149M	1	46.86%	New
369	Kodai Capital Management Chicago, Illinois	$164M	+$146M	4	3.33%	New
370	O'Shaughnessy Asset Management Stamford, Connecticut	$163M	+$10.6M	32	2.16%	Increased
371	TCW Group Los Angeles, California	$161M	+$18.3M	8	1.8%	Increased
372	Pentwater Capital Management Naples, Florida	$161M	-$118M	1	1.8%	Reduced
373	Natixis Paris, France	$161M	-$127M	20	1.17%	Reduced
374	Daiwa Securities Group Tokyo, Japan	$160M	+$4.5M	31	0.99%	Increased
375	Tower Research Capital (TRC) New York	$159M	+$75.7M	94	1.97%	Increased