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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
51
ClearBridge Investments
ClearBridge Investments
New York
$1.59B -$187M 18 1.61% Reduced
52
PNC Financial Services Group
PNC Financial Services Group
Pennsylvania
$1.53B -$139M 53 1.7% Reduced
53
Prudential Financial
Prudential Financial
New Jersey
$1.49B -$147M 46 2.61% Reduced
54
Primecap Management
Primecap Management
California
$1.43B +$78.9M 10 1.16% Increased
55
Credit Suisse
Credit Suisse
Switzerland
$1.4B +$51.9M 50 1.45% Increased
56
Citadel Advisors
Citadel Advisors
Florida
$1.35B -$204M 51 0.74% Reduced
57
Allianz Asset Management
Allianz Asset Management
Germany
$1.32B -$5.28M 36 1.45% Reduced
58
Dodge & Cox
Dodge & Cox
California
$1.32B +$1.53B 6 1.21% Increased
59
Lazard Asset Management
Lazard Asset Management
New York
$1.31B -$47.1M 13 2.42% Reduced
60
RhumbLine Advisers
RhumbLine Advisers
Massachusetts
$1.3B +$64M 51 2.83% Increased
61
Harris Associates
Harris Associates
Illinois
$1.29B +$298M 2 2.61% Increased
62
California State Teachers Retirement System (CalSTRS)
California State Teachers Retirement System (CalSTRS)
California
$1.28B +$19M 51 2.92% Increased
63
TD Asset Management
TD Asset Management
Ontario, Canada
$1.28B -$27.9M 29 2.22% Reduced
64
Eaton Vance Management
Eaton Vance Management
Massachusetts
$1.27B -$29.5M 23 3.3% Reduced
65
Davis Selected Advisers
Davis Selected Advisers
Arizona
$1.26B -$116M 2 7.04% Reduced
66
Two Sigma Advisers
Two Sigma Advisers
New York
$1.24B +$356M 43 3.4% Increased
67
Victory Capital Management
Victory Capital Management
Texas
$1.2B +$102M 37 3.02% Increased
68
Millennium Management
Millennium Management
New York
$1.18B +$18.7M 50 1.83% Increased
69
Putnam Investments
Putnam Investments
Massachusetts
$1.17B -$32.3M 20 3.08% Reduced
70
VOYA Investment Management
VOYA Investment Management
Georgia
$1.14B +$45.1M 48 2.82% Increased
71
OppenheimerFunds
OppenheimerFunds
New York
$1.14B -$100M 40 1.63% Reduced
72
D.E. Shaw & Co
D.E. Shaw & Co
New York
$1.12B +$425M 46 1.55% Increased
73
New York State Teachers Retirement System (NYSTRS)
New York State Teachers Retirement System (NYSTRS)
New York
$1.1B -$36.1M 41 3.11% Reduced
74
Artisan Partners
Artisan Partners
Wisconsin
$1.09B +$52.6M 8 2.47% Increased
75
Asset Management One
Asset Management One
Japan
$1.09B -$7.51M 21 2.6% Reduced
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