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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	New York State Common Retirement Fund Albany, New York	$2.26B	-$26.3M	63	2.27%	Reduced
52	Neuberger Berman Group New York	$2.18B	+$134M	37	1.71%	Increased
53	VVP Vulcan Value Partners Birmingham, Alabama	$2.01B	+$66.4M	3	10.26%	Increased
54	Putnam Investments Boston, Massachusetts	$1.97B	+$476M	21	2.82%	Increased
55	VS VK Services Menlo Park, California	$1.86B	$0	1	40.17%	Maintained
56	Millennium Management New York	$1.85B	+$94.7M	78	0.94%	Increased
57	Adage Capital Partners Boston, Massachusetts	$1.82B	+$183M	22	3.28%	Increased
58	California State Teachers Retirement System (CalSTRS) West Sacramento, California	$1.8B	+$39.6M	62	2.1%	Increased
59	Hotchkis & Wiley Capital Management Los Angeles, California	$1.76B	+$78M	14	5.55%	Increased
60	Manulife (Manufacturers Life Insurance) Canada, Ontario, Canada	$1.73B	-$240M	59	1.06%	Reduced
61	Credit Suisse Zurich, Switzerland	$1.7B	-$8.47M	62	0.91%	Reduced
62	LSV Asset Management Chicago, Illinois	$1.69B	-$52.1M	19	2.99%	Reduced
63	RhumbLine Advisers Boston, Massachusetts	$1.67B	+$16.4M	60	2.04%	Increased
64	Stifel Financial St. Louis, Missouri	$1.66B	-$217M	54	2.19%	Reduced
65	Raymond James & Associates St Petersburg, Florida	$1.64B	-$11.3M	51	1.32%	Reduced
66	Pzena Investment Management New York	$1.64B	-$34.5M	6	6.17%	Reduced
67	Citigroup New York	$1.62B	+$6.72M	70	0.87%	Increased
68	Barclays London, United Kingdom	$1.59B	+$162M	55	0.59%	Increased
69	Prudential Financial Newark, New Jersey	$1.55B	-$156M	46	1.93%	Reduced
70	Lazard Asset Management New York	$1.55B	-$26.5M	31	1.65%	Reduced
71	Primecap Management Pasadena, California	$1.54B	-$49.3M	12	1.06%	Reduced
72	Eagle Capital Management (New York) New York	$1.46B	-$41.2M	2	4.36%	Reduced
73	Citadel Advisors Miami, Florida	$1.43B	+$43.3M	73	0.29%	Increased
74	PNC Financial Services Group Pittsburgh, Pennsylvania	$1.34B	+$17.2M	62	1.11%	Increased
75	D.E. Shaw & Co New York	$1.32B	+$68M	66	1.09%	Increased