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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
451	Harding Loevner Bridgewater, New Jersey	$226M	-$85.8M	3	1.66%	Reduced
452	Algert Global San Francisco, California	$226M	+$27.7M	35	3.78%	Increased
453	OMG One Madison Group New York	$224M	-$23.7M	6	24.58%	Reduced
454	Factory Mutual Insurance Waltham, Massachusetts	$224M	+$2.25M	7	2.18%	Increased
455	Regions Financial Corp Birmingham, Alabama	$224M	-$24.2M	25	1.46%	Reduced
456	AO Allen Operations New York	$223M	$0	2	26.57%	Maintained
457	CPWM Cypress Point Wealth Management Dallas, Texas	$222M	-$3.17M	1	44.9%	Reduced
458	Thompson Siegel & Walmsley Richmond, Virginia	$220M	-$22.9M	15	3.56%	Reduced
459	Kestra Private Wealth Services Austin, Texas	$220M	+$3.46M	29	2.87%	Increased
460	iA Global Asset Management Quebec, Quebec, Canada	$220M	+$17.9M	11	3.01%	Increased
461	Saudi Central Bank Riyadh, Saudi Arabia	$219M	$0	1	8.31%	Maintained
462	Beutel, Goodman & Co Toronto, Ontario, Canada	$218M	-$122M	2	1.31%	Reduced
463	Aquatic Capital Management Chicago, Illinois	$217M	+$23.5M	32	4.03%	Increased
464	Investment Management Corp of Ontario (IMCO) Toronto, Canada	$217M	+$45M	19	3.29%	Increased
465	Hudson Bay Capital Management Stamford, Connecticut	$216M	+$44M	24	0.72%	Increased
466	QRG Capital Management Chicago, Illinois	$215M	-$70.8M	26	2.6%	Reduced
467	HC Henshaw Capital Woburn, Massachusetts	$214M	-$1.22M	10	7.98%	Reduced
468	SIG Senator Investment Group New York	$213M	+$70.6M	4	7.87%	Increased
469	Riverbridge Partners Minneapolis, Minnesota	$211M	-$19.1M	1	3.56%	Reduced
470	BCIM Black Creek Investment Management Toronto, Ontario, Canada	$209M	+$29.8M	1	9.84%	Increased
471	Cubist Systematic Strategies Stamford, Connecticut	$208M	-$120M	33	0.99%	Reduced
472	Exchange Traded Concepts Oklahoma City, Oklahoma	$207M	+$66.4M	27	1.76%	Increased
473	Brown Brothers Harriman & Co New York	$207M	-$2.17M	34	1.26%	Reduced
474	Fjarde Ap-fonden Stockholm, Sweden	$207M	+$4.49M	10	1.79%	Increased
475	Ninety One (UK) London, United Kingdom	$205M	+$202M	2	0.44%	Increased