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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
376	Cincinnati Insurance Fairfield, Ohio	$127M	$0	3	4.15%	Maintained
377	Asset Management One Tokyo, Japan	$127M	+$4.94M	25	1.9%	Increased
378	CC Cannell & Co New York	$126M	-$4.18M	8	4.59%	Reduced
379	MUFG Americas New York	$125M	-$2.87M	23	4.34%	Reduced
380	AEGON Asset Management (UK) Edinburgh, United Kingdom	$125M	+$204K	3	3.56%	Increased
381	SW SVB Wealth Boston, Massachusetts	$124M	-$5.08M	10	5.04%	Reduced
382	Natixis Paris, France	$123M	+$105M	8	2.3%	Increased
383	Mawer Investment Management Calgary, Alberta, Canada	$123M	-$104M	3	1.74%	Reduced
384	DILH Dai-ichi Life Holdings Tokyo, Japan	$123M	-$1.47M	12	3.71%	Reduced
385	MSA Mason Street Advisors Milwaukee, Wisconsin	$122M	+$3.6M	40	3.56%	Increased
386	Cullen/Frost Bankers San Antonio, Texas	$122M	-$7.83M	8	4.52%	Reduced
387	BAPIM British Airways Pensions Investment Management London, United Kingdom	$122M	-$4.54M	3	3.66%	Reduced
388	Zurich Insurance Group Zurich, Switzerland	$120M	-$12.4M	8	4.2%	Reduced
389	ProShare Advisors Bethesda, Maryland	$119M	-$13.6M	28	1.54%	Reduced
390	Loring Wolcott & Coolidge Fiduciary Advisors Boston, Massachusetts	$119M	-$2.08M	12	2.74%	Reduced
391	Conning Inc Hartford, Connecticut	$119M	-$8.08M	10	4.9%	Reduced
392	Sculptor Capital New York	$119M	-$122M	1	0.68%	Reduced
393	Miller Howard Investments Kingston, New York	$118M	-$38.8M	2	2.11%	Reduced
394	WesBanco Bank Wheeling, West Virginia	$118M	-$7.23M	11	7.01%	Reduced
395	Bank of Nova Scotia Toronto, Ontario, Canada	$117M	+$39.1M	13	0.69%	Increased
396	BCM Barometer Capital Management Toronto, Ontario, Canada	$117M	-$10.3M	5	11.61%	Reduced
397	HCM Holland Capital Management Chicago, Illinois	$116M	-$48.9M	2	4.5%	Reduced
398	HL Financial Services Louisville, Kentucky	$116M	-$534K	8	2.74%	Reduced
399	AP Altarock Partners West Palm Beach, Florida	$116M	-$71.1M	1	21.04%	Reduced
400	Segall Bryant & Hamill Chicago, Illinois	$115M	-$25.7M	13	3.03%	Reduced