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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	Lazard Asset Management New York	$1.27B	-$12.8M	24	2.06%	Reduced
77	D.E. Shaw & Co New York	$1.27B	+$139M	51	1.58%	Increased
78	Aristotle Capital Management Los Angeles, California	$1.26B	-$17.9M	4	7.02%	Reduced
79	State Board of Administration of Florida Retirement System Tallahassee, Florida	$1.2B	-$10.7M	48	3.12%	Reduced
80	Citigroup New York	$1.19B	+$162M	58	0.96%	Increased
81	Waddell & Reed Financial Overland Park, Kansas	$1.17B	-$129M	11	2.89%	Reduced
82	Thrivent Financial for Lutherans Minneapolis, Minnesota	$1.16B	+$17.6M	44	3.53%	Increased
83	Epoch Investment Partners New York	$1.16B	+$65.1M	9	5.25%	Increased
84	State of Wisconsin Investment Board Madison, Wisconsin	$1.15B	+$4.66M	39	3.2%	Increased
85	Longview Partners St Peter Port, Guernsey	$1.13B	+$106M	1	5.48%	Increased
86	Raymond James & Associates St Petersburg, Florida	$1.13B	+$18.2M	45	1.63%	Increased
87	Stifel Financial St. Louis, Missouri	$1.12B	+$118M	42	2.88%	Increased
88	William Blair Investment Management Chicago, Illinois	$1.11B	-$192M	9	4.66%	Reduced
89	Baupost Group Boston, Massachusetts	$1.11B	$0	1	10.05%	Maintained
90	Russell Investments Group London, United Kingdom	$1.1B	-$93.7M	55	2.06%	Reduced
91	Mackenzie Financial Toronto Ontario, Ontario, Canada	$1.09B	-$15.4M	16	2.82%	Reduced
92	Charles Schwab Investment Advisory San Francisco, California	$1.07B	+$23.9M	3	1.71%	Increased
93	Davis Selected Advisers Tucson, Arizona	$1.07B	-$234M	1	5.29%	Reduced
94	Two Sigma Advisers New York	$1.05B	-$49.4M	46	2.62%	Reduced
95	Susquehanna International Group Bala Cynwyd, Pennsylvania	$1.03B	-$382M	53	0.37%	Reduced
96	LSV Asset Management Chicago, Illinois	$1.02B	+$48.9M	17	1.64%	Increased
97	Tiger Global Management New York	$1,000M	$0	1	5.41%	Maintained
98	BP Berkshire Partners Boston, Massachusetts	$987M	$0	1	81.67%	Maintained
99	GAMCO Investors Greenwich, Connecticut	$980M	-$35M	24	7.44%	Reduced
100	HSBC Holdings London, United Kingdom	$975M	-$108M	41	1.85%	Reduced