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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
76	State Farm Mutual Automobile Insurance Bloomington, Illinois	$1.26B	$0	1	1.87%	Maintained
77	Adage Capital Partners Boston, Massachusetts	$1.24B	-$310M	20	3.43%	Reduced
78	Waddell & Reed Financial Overland Park, Kansas	$1.22B	-$14M	15	2.53%	Reduced
79	RhumbLine Advisers Boston, Massachusetts	$1.21B	+$48.9M	51	3.35%	Increased
80	MTB Mizuho Trust & Banking Tokyo, Japan	$1.19B	+$404K	14	3.51%	Increased
81	Epoch Investment Partners New York	$1.17B	-$16.3M	9	4.36%	Reduced
82	Fidelity International Hamilton, Bermuda	$1.14B	+$90.5M	11	3.4%	Increased
83	State Board of Administration of Florida Retirement System Tallahassee, Florida	$1.12B	-$13.7M	49	3.49%	Reduced
84	Lord, Abbett & Co Jersey City, New Jersey	$1.09B	-$152M	18	3.33%	Reduced
85	Macquarie Group Sydney, NSW 2000, Australia	$1.04B	+$20.7M	26	2%	Increased
86	Primecap Management Pasadena, California	$1.02B	-$91.5M	7	1.02%	Reduced
87	SAM Southeastern Asset Management Memphis, Tennessee	$1.01B	-$6.45M	2	9.71%	Reduced
88	Baupost Group Boston, Massachusetts	$988M	-$98.1M	2	14.04%	Reduced
89	VVP Vulcan Value Partners Birmingham, Alabama	$987M	-$243M	4	9.07%	Reduced
90	BlackRock Japan Tokyo, Japan	$977M	-$17.1M	20	3.34%	Reduced
91	D.E. Shaw & Co New York	$972M	+$67.7M	42	1.71%	Increased
92	Victory Capital Management San Antonio, Texas	$964M	+$369M	33	2.7%	Increased
93	First Pacific Advisors El Segundo, California	$959M	-$79.2M	3	7.96%	Reduced
94	Canada Life Winnipeg, Manitoba, Canada	$957M	-$493K	48	2.79%	Reduced
95	William Blair Investment Management Chicago, Illinois	$953M	+$118M	11	3.61%	Increased
96	GAMCO Investors Greenwich, Connecticut	$935M	-$31.7M	22	6.08%	Reduced
97	HSBC Holdings London, United Kingdom	$908M	+$66.2M	33	2.26%	Increased
98	Davis Selected Advisers Tucson, Arizona	$906M	-$42.4M	2	3.95%	Reduced
99	Fred Alger Management New York	$893M	-$4.35M	9	4.59%	Reduced
100	Renaissance Technologies New York	$893M	+$49.7M	57	1.58%	Increased