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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
Millennium Management
Millennium Management
New York
$1.84B +$570M 67 1.33% Increased
52
Citigroup
Citigroup
New York
$1.82B -$46.9M 67 1.07% Reduced
53
Arrowstreet Capital
Arrowstreet Capital
Massachusetts
$1.8B -$655M 50 2.54% Reduced
54
Neuberger Berman Group
Neuberger Berman Group
New York
$1.75B +$68M 30 1.81% Increased
55
Credit Suisse
Credit Suisse
Switzerland
$1.73B +$29.1M 57 0.85% Increased
56
Lazard Asset Management
Lazard Asset Management
New York
$1.72B +$43.6M 37 2.18% Increased
57
Manulife (Manufacturers Life Insurance)
Manulife (Manufacturers Life Insurance)
Ontario, Canada
$1.71B +$59.6M 56 1.58% Increased
58
Allianz Asset Management
Allianz Asset Management
Germany
$1.71B +$53.9M 39 1.69% Increased
59
Bank of Montreal
Bank of Montreal
Ontario, Canada
$1.7B -$52.6M 66 1.13% Reduced
60
D.E. Shaw & Co
D.E. Shaw & Co
New York
$1.68B -$157M 51 1.5% Reduced
61
RhumbLine Advisers
RhumbLine Advisers
Massachusetts
$1.66B +$3.23M 58 2.3% Increased
62
California State Teachers Retirement System (CalSTRS)
California State Teachers Retirement System (CalSTRS)
California
$1.66B +$17.8M 57 2.32% Increased
63
Putnam Investments
Putnam Investments
Massachusetts
$1.64B +$222M 15 2.9% Increased
64
First Trust Advisors
First Trust Advisors
Illinois
$1.61B +$518M 46 2.14% Increased
65
Eagle Capital Management (New York)
Eagle Capital Management (New York)
New York
$1.6B -$189M 3 5.1% Reduced
66
PNC Financial Services Group
PNC Financial Services Group
Pennsylvania
$1.53B -$55.9M 56 1.54% Reduced
67
Pzena Investment Management
Pzena Investment Management
New York
$1.52B -$53.7M 6 7.19% Reduced
68
Citadel Advisors
Citadel Advisors
Florida
$1.52B -$120M 58 0.39% Reduced
69
BHH
Baker Hughes Holdings
Texas
$1.5B +$1.45B 1 99.88% New
70
Hotchkis & Wiley Capital Management
Hotchkis & Wiley Capital Management
California
$1.5B -$462M 10 5.24% Reduced
71
LSV Asset Management
LSV Asset Management
Illinois
$1.48B +$71M 22 2.7% Increased
72
Prudential Financial
Prudential Financial
New Jersey
$1.47B -$46.1M 48 2.46% Reduced
73
Primecap Management
Primecap Management
California
$1.42B -$78.7M 12 1.05% Reduced
74
William Blair Investment Management
William Blair Investment Management
Illinois
$1.33B -$101M 11 4.44% Reduced
75
Amundi Asset Management US
Amundi Asset Management US
Massachusetts
$1.33B +$328M 28 1.13% Increased
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