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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	Manulife (Manufacturers Life Insurance) Canada, Ontario, Canada	$1.98B	+$103M	59	1.71%	Increased
52	Neuberger Berman Group New York	$1.91B	+$30.8M	33	1.82%	Increased
53	California State Teachers Retirement System (CalSTRS) West Sacramento, California	$1.84B	+$24.1M	61	2.42%	Increased
54	Pzena Investment Management New York	$1.82B	-$37.1M	5	7.4%	Reduced
55	Bank of Montreal Toronto, Ontario, Canada	$1.78B	-$143M	72	1.16%	Reduced
56	Caisse de Depot et Placement du Quebec (CDPQ) Montreal, Quebec, Canada	$1.78B	+$419M	19	4%	Increased
57	RhumbLine Advisers Boston, Massachusetts	$1.76B	-$54.2M	62	2.39%	Reduced
58	Credit Suisse Zurich, Switzerland	$1.73B	-$125M	61	0.89%	Reduced
59	Millennium Management New York	$1.73B	-$279M	68	1.24%	Reduced
60	LSV Asset Management Chicago, Illinois	$1.69B	-$15M	22	2.9%	Reduced
61	Eagle Capital Management (New York) New York	$1.69B	-$192M	2	5.21%	Reduced
62	First Trust Advisors Wheaton, Illinois	$1.67B	-$6.31M	49	2.03%	Reduced
63	Lazard Asset Management New York	$1.65B	-$115M	37	2%	Reduced
64	Citadel Advisors Miami, Florida	$1.63B	+$18.2M	73	0.4%	Increased
65	Hotchkis & Wiley Capital Management Los Angeles, California	$1.61B	-$221M	10	4.92%	Reduced
66	Putnam Investments Boston, Massachusetts	$1.53B	-$181M	11	2.55%	Reduced
67	D.E. Shaw & Co New York	$1.53B	-$251M	47	1.47%	Reduced
68	Stifel Financial St. Louis, Missouri	$1.51B	+$110M	56	2.49%	Increased
69	Eaton Vance Management Boston, Massachusetts	$1.51B	+$142M	52	2.23%	Increased
70	Barclays London, United Kingdom	$1.48B	+$332M	65	0.8%	Increased
71	Raymond James & Associates St Petersburg, Florida	$1.48B	+$116M	52	1.49%	Increased
72	Prudential Financial Newark, New Jersey	$1.47B	-$109M	50	2.2%	Reduced
73	Adage Capital Partners Boston, Massachusetts	$1.46B	+$207M	22	2.98%	Increased
74	Primecap Management Pasadena, California	$1.44B	-$54.1M	12	1.01%	Reduced
75	PNC Financial Services Group Pittsburgh, Pennsylvania	$1.43B	-$191M	60	1.39%	Reduced