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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	First Trust Advisors Wheaton, Illinois	$2.3B	+$195M	51	2.47%	Increased
52	Neuberger Berman Group New York	$2.08B	+$50.5M	33	1.82%	Increased
53	Manulife (Manufacturers Life Insurance) Canada, Ontario, Canada	$1.96B	+$68.8M	58	1.6%	Increased
54	VVP Vulcan Value Partners Birmingham, Alabama	$1.86B	-$300M	3	10.02%	Reduced
55	VS VK Services Menlo Park, California	$1.86B	+$1.38B	1	41.9%	New
56	Stifel Financial St. Louis, Missouri	$1.85B	+$49.3M	52	2.71%	Increased
57	California State Teachers Retirement System (CalSTRS) West Sacramento, California	$1.78B	-$30.1M	61	2.29%	Reduced
58	Millennium Management New York	$1.76B	+$228M	75	1.06%	Increased
59	Credit Suisse Zurich, Switzerland	$1.75B	-$12.8M	60	0.97%	Reduced
60	Hotchkis & Wiley Capital Management Los Angeles, California	$1.72B	+$94M	11	5.49%	Increased
61	Pzena Investment Management New York	$1.69B	-$145M	7	6.69%	Reduced
62	LSV Asset Management Chicago, Illinois	$1.66B	-$186M	19	3%	Reduced
63	Prudential Financial Newark, New Jersey	$1.66B	-$58.5M	47	2.31%	Reduced
64	RhumbLine Advisers Boston, Massachusetts	$1.65B	-$53.3M	60	2.24%	Reduced
65	Allianz Asset Management Munich, Germany	$1.65B	+$5.31B	37	1.28%	Increased
66	Raymond James & Associates St Petersburg, Florida	$1.65B	+$25.7M	50	1.48%	Increased
67	Citigroup New York	$1.64B	-$316M	70	0.97%	Reduced
68	Eagle Capital Management (New York) New York	$1.63B	-$17.7M	2	4.78%	Reduced
69	Adage Capital Partners Boston, Massachusetts	$1.62B	+$365M	23	3.19%	Increased
70	Lazard Asset Management New York	$1.57B	-$62.5M	33	1.77%	Reduced
71	Renaissance Technologies New York	$1.56B	+$781M	51	2.01%	Increased
72	ARK Investment Management St. Petersburg, Florida	$1.55B	+$240M	18	3.73%	Increased
73	Primecap Management Pasadena, California	$1.51B	-$36.7M	12	1.06%	Reduced
74	Putnam Investments Boston, Massachusetts	$1.47B	-$80.6M	14	2.27%	Reduced
75	Citadel Advisors Miami, Florida	$1.44B	-$404M	76	0.3%	Reduced