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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 New York	$2.18B	-$103M	76	1.25%	Reduced
52	Bank of Montreal Toronto, Ontario, Canada	$2.12B	+$119M	51	0.85%	Increased
53	Fisher Asset Management Camas, Washington	$2.08B	+$861M	18	1.26%	Increased
54	First Trust Advisors Wheaton, Illinois	$2.06B	+$1.22M	47	2.38%	Increased
55	New York State Common Retirement Fund Albany, New York	$2.03B	-$138M	62	2.72%	Reduced
56	RhumbLine Advisers Boston, Massachusetts	$2.01B	-$19.9M	61	2.48%	Reduced
57	Renaissance Technologies New York	$1.96B	+$928M	70	2.6%	Increased
58	Raymond James & Associates St Petersburg, Florida	$1.81B	-$36.1M	49	1.57%	Reduced
59	Eagle Capital Management (New York) New York	$1.77B	-$138M	2	8.08%	Reduced
60	Citadel Advisors Miami, Florida	$1.76B	-$39.6M	81	0.39%	Reduced
61	California State Teachers Retirement System (CalSTRS) West Sacramento, California	$1.74B	-$66.9M	62	2.59%	Reduced
62	Barclays London, United Kingdom	$1.73B	-$655M	68	0.79%	Reduced
63	Stifel Financial St. Louis, Missouri	$1.73B	+$24M	53	2.47%	Increased
64	Putnam Investments Boston, Massachusetts	$1.69B	-$236M	25	2.71%	Reduced
65	CIBC Private Wealth Group Atlanta, Georgia	$1.64B	+$30M	14	3.63%	Increased
66	Envestnet Asset Management Chicago, Illinois	$1.6B	+$1.72B	48	0.77%	Increased
67	Credit Suisse Zurich, Switzerland	$1.53B	-$15.1M	60	1.54%	Reduced
68	Manulife (Manufacturers Life Insurance) Canada, Ontario, Canada	$1.48B	-$202M	56	0.83%	Reduced
69	Two Sigma Advisers New York	$1.43B	+$435M	44	3.68%	Increased
70	Prudential Financial Newark, New Jersey	$1.42B	+$119M	48	2.22%	Increased
71	Citigroup New York	$1.41B	+$46.4M	67	0.99%	Increased
72	National Pension Service Jeonju-Si, Jeollabuk-Do, South Korea	$1.41B	-$42.7M	14	2.57%	Reduced
73	Pzena Investment Management New York	$1.41B	-$452M	5	6.06%	Reduced
74	Lazard Asset Management New York	$1.38B	+$21.3M	35	1.81%	Increased
75	PNC Financial Services Group Pittsburgh, Pennsylvania	$1.37B	-$60.7M	58	1.2%	Reduced