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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	Neuberger Berman Group New York	$2.28B	-$11.7M	37	1.93%	Reduced
52	Viking Global Investors Stamford, Connecticut	$2.13B	-$407M	3	8.61%	Reduced
53	Putnam Investments Boston, Massachusetts	$2.02B	-$112M	24	3.05%	Reduced
54	VVP Vulcan Value Partners Birmingham, Alabama	$1.81B	-$217M	2	11.12%	Reduced
55	Hotchkis & Wiley Capital Management Los Angeles, California	$1.8B	+$37.6M	14	5.74%	Increased
56	Stifel Financial St. Louis, Missouri	$1.8B	-$19.1M	52	2.46%	Reduced
57	California State Teachers Retirement System (CalSTRS) West Sacramento, California	$1.76B	-$112M	61	2.32%	Reduced
58	RhumbLine Advisers Boston, Massachusetts	$1.76B	+$8.64M	59	2.26%	Increased
59	Eagle Capital Management (New York) New York	$1.69B	+$220M	2	5.69%	Increased
60	Manulife (Manufacturers Life Insurance) Canada, Ontario, Canada	$1.68B	-$203M	55	1.1%	Reduced
61	Raymond James & Associates St Petersburg, Florida	$1.67B	-$81.1M	53	1.41%	Reduced
62	LSV Asset Management Chicago, Illinois	$1.65B	-$168M	18	3.03%	Reduced
63	Credit Suisse Zurich, Switzerland	$1.65B	-$80.9M	61	1.41%	Reduced
64	Citigroup New York	$1.51B	-$175M	81	0.92%	Reduced
65	Primecap Management Pasadena, California	$1.49B	-$96.6M	12	1.13%	Reduced
66	Sanders Capital West Palm Beach, Florida	$1.49B	+$246M	1	3.23%	Increased
67	D.E. Shaw & Co New York	$1.48B	+$98.2M	63	1.38%	Increased
68	Adage Capital Partners Boston, Massachusetts	$1.48B	-$388M	19	2.8%	Reduced
69	Lazard Asset Management New York	$1.47B	-$19.7M	36	1.7%	Reduced
70	Pzena Investment Management New York	$1.47B	-$120M	5	5.56%	Reduced
71	Eaton Vance Management Boston, Massachusetts	$1.46B	+$108M	31	1.69%	Increased
72	EARNEST Partners Atlanta, Georgia	$1.44B	+$51.2M	35	8.5%	Increased
73	Millennium Management New York	$1.42B	-$484M	74	0.75%	Reduced
74	PNC Financial Services Group Pittsburgh, Pennsylvania	$1.41B	-$11.1M	62	1.24%	Reduced
75	Envestnet Asset Management Chicago, Illinois	$1.39B	+$39.7M	52	0.7%	Increased