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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
RhumbLine Advisers
RhumbLine Advisers
Massachusetts
$1.37B +$46.9M 57 2.29% Increased
52
Citadel Advisors
Citadel Advisors
Florida
$1.34B -$259M 56 0.48% Reduced
53
California State Teachers Retirement System (CalSTRS)
California State Teachers Retirement System (CalSTRS)
California
$1.33B -$20.7M 57 2.34% Reduced
54
Manulife (Manufacturers Life Insurance)
Manulife (Manufacturers Life Insurance)
Ontario, Canada
$1.31B -$163M 54 1.23% Reduced
55
Neuberger Berman Group
Neuberger Berman Group
New York
$1.31B +$2.52M 27 1.62% Increased
56
Susquehanna International Group
Susquehanna International Group
Pennsylvania
$1.29B -$46.9M 50 0.31% Reduced
57
Allianz Asset Management
Allianz Asset Management
Germany
$1.28B -$47.7M 37 1.48% Reduced
58
Putnam Investments
Putnam Investments
Massachusetts
$1.27B +$187M 23 2.7% Increased
59
Millennium Management
Millennium Management
New York
$1.26B +$724M 54 1.73% Increased
60
Credit Suisse
Credit Suisse
Switzerland
$1.26B -$372M 55 0.9% Reduced
61
LSV Asset Management
LSV Asset Management
Illinois
$1.26B +$321M 23 2.61% Increased
62
William Blair Investment Management
William Blair Investment Management
Illinois
$1.24B -$107M 11 5.06% Reduced
63
Dodge & Cox
Dodge & Cox
California
$1.23B -$649M 5 1.13% Reduced
64
Eagle Capital Management (New York)
Eagle Capital Management (New York)
New York
$1.22B +$177M 4 4.47% Increased
65
Lazard Asset Management
Lazard Asset Management
New York
$1.21B +$63.4M 35 1.86% Increased
66
Bank of Montreal
Bank of Montreal
Ontario, Canada
$1.21B -$14.9M 62 1.1% Reduced
67
D.E. Shaw & Co
D.E. Shaw & Co
New York
$1.2B -$26.3M 49 1.43% Reduced
68
Citigroup
Citigroup
New York
$1.18B +$239M 62 0.92% Increased
69
Primecap Management
Primecap Management
California
$1.17B -$221M 12 1.01% Reduced
70
AQR Capital Management
AQR Capital Management
Connecticut
$1.16B -$402M 43 1.88% Reduced
71
Hotchkis & Wiley Capital Management
Hotchkis & Wiley Capital Management
California
$1.13B +$147M 10 5.25% Increased
72
Caisse de Depot et Placement du Quebec (CDPQ)
Caisse de Depot et Placement du Quebec (CDPQ)
Quebec, Canada
$1.09B +$121M 21 3.06% Increased
73
Eaton Vance Management
Eaton Vance Management
Massachusetts
$1.08B +$25.4M 23 2.18% Increased
74
Raymond James & Associates
Raymond James & Associates
Florida
$1.07B +$86.8M 42 1.43% Increased
75
Soroban Capital Partners
Soroban Capital Partners
New York
$1.05B +$350M 2 13.47% Increased
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