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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
Citigroup
Citigroup
New York
$1.51B +$337M 64 0.99% Increased
52
VVP
Vulcan Value Partners
Alabama
$1.51B +$951M 4 11.77% Increased
53
Bank of Montreal
Bank of Montreal
Ontario, Canada
$1.5B +$231M 63 1.26% Increased
54
Manulife (Manufacturers Life Insurance)
Manulife (Manufacturers Life Insurance)
Ontario, Canada
$1.38B +$69.3M 54 1.43% Increased
55
PNC Financial Services Group
PNC Financial Services Group
Pennsylvania
$1.38B -$68.3M 55 1.7% Reduced
56
RhumbLine Advisers
RhumbLine Advisers
Massachusetts
$1.35B -$13.7M 56 2.12% Reduced
57
Neuberger Berman Group
Neuberger Berman Group
New York
$1.35B +$40.4M 30 1.6% Increased
58
California State Teachers Retirement System (CalSTRS)
California State Teachers Retirement System (CalSTRS)
California
$1.34B +$12.6M 57 2.15% Increased
59
Lazard Asset Management
Lazard Asset Management
New York
$1.34B -$875K 35 1.88% Reduced
60
Prudential Financial
Prudential Financial
New Jersey
$1.31B -$104M 48 2.43% Reduced
61
Citadel Advisors
Citadel Advisors
Florida
$1.3B -$35.3M 56 0.37% Reduced
62
Credit Suisse
Credit Suisse
Switzerland
$1.29B +$46M 57 0.79% Increased
63
Allianz Asset Management
Allianz Asset Management
Germany
$1.26B -$29.1M 37 1.47% Reduced
64
William Blair Investment Management
William Blair Investment Management
Illinois
$1.26B +$4.29M 11 4.9% Increased
65
Putnam Investments
Putnam Investments
Massachusetts
$1.24B -$68.7M 20 2.44% Reduced
66
Hotchkis & Wiley Capital Management
Hotchkis & Wiley Capital Management
California
$1.21B +$206M 11 5.48% Increased
67
Artisan Partners
Artisan Partners
Wisconsin
$1.2B -$161M 5 1.7% Reduced
68
Primecap Management
Primecap Management
California
$1.2B -$4.38M 12 0.99% Reduced
69
LSV Asset Management
LSV Asset Management
Illinois
$1.19B -$26M 21 2.44% Reduced
70
Eagle Capital Management (New York)
Eagle Capital Management (New York)
New York
$1.1B -$8.9M 4 3.96% Reduced
71
Raymond James & Associates
Raymond James & Associates
Florida
$1.03B -$33.9M 44 1.29% Reduced
72
Eaton Vance Management
Eaton Vance Management
Massachusetts
$1.02B -$8.51M 25 1.87% Reduced
73
Stifel Financial
Stifel Financial
Missouri
$1.01B +$74.4M 48 2.07% Increased
74
Two Sigma Advisers
Two Sigma Advisers
New York
$1.01B +$253M 42 2.87% Increased
75
Pzena Investment Management
Pzena Investment Management
New York
$995M +$372M 7 6.21% Increased
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