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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
401	WPL WINDACRE PARTNERSHIP LLC Houston, Texas	$116M	+$126M	1	25.73%	New
402	Zurich Insurance Group Zurich, Switzerland	$116M	-$1.03M	9	3.35%	Reduced
403	Mawer Investment Management Calgary, Alberta, Canada	$115M	-$5.5M	3	1.11%	Reduced
404	Confluence Investment Management St. Louis, Missouri	$114M	+$796K	4	2.55%	Increased
405	Swiss Life Asset Management Zurich,	$114M	+$9.79M	12	3.08%	Increased
406	Sarasin & Partners London, United Kingdom	$114M	-$51.2M	3	2.22%	Reduced
407	HL Financial Services Louisville, Kentucky	$114M	+$946K	8	2.34%	Increased
408	AHL Partners London, United Kingdom	$113M	+$1.63M	29	2.5%	Increased
409	VM Valinor Management New York	$113M	+$123M	1	3.29%	New
410	Janus Henderson Group London,	$113M	-$11.8M	14	0.79%	Reduced
411	Vaughan David Investments Peoria, Illinois	$113M	+$207K	6	5.85%	Increased
412	NIMI Natixis Investment Managers International Paris, France	$113M	+$872K	7	9.92%	Increased
413	MC Montag & Caldwell Atlanta, Georgia	$112M	-$30.6M	3	3.21%	Reduced
414	Cullen/Frost Bankers San Antonio, Texas	$112M	-$10.1M	8	3.81%	Reduced
415	OAMG Odey Asset Management Group London, United Kingdom	$111M	+$114M	1	11.47%	New
416	Oppenheimer & Co New York	$111M	-$5.12M	16	3.14%	Reduced
417	Truist Financial Charlotte, North Carolina	$111M	-$10.2M	14	2.22%	Reduced
418	Skandinaviska Enskilda Banken (SEB) Stockholm, Sweden	$110M	+$6.95M	11	1.11%	Increased
419	Daiwa Securities Group Tokyo, Japan	$109M	+$41.2M	17	0.69%	Increased
420	Chartwell Investment Partners Berywn, Pennsylvania	$109M	+$12.9M	11	3.97%	Increased
421	CRCM Cat Rock Capital Management Greenwich, Connecticut	$109M	+$33.7M	1	43.85%	Increased
422	Dai-ichi Life Insurance Company Tokyo, Japan	$108M	-$21.6M	13	2.91%	Reduced
423	SA SQ Advisors Naples, Florida	$107M	+$18.5M	1	4.09%	Increased
424	Fiduciary Trust Boston, Massachusetts	$107M	+$1.45M	11	3.27%	Increased
425	SAM Securian Asset Management St Paul, Minnesota	$107M	+$2.09M	24	2.85%	Increased