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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	Two Sigma Advisers New York	$1.43B	-$34.5M	39	3.65%	Reduced
77	Allspring Global Investments Charlotte, North Carolina	$1.4B	+$126M	52	2.25%	Increased
78	CIBC Private Wealth Group Atlanta, Georgia	$1.39B	+$57.4M	13	3.04%	Increased
79	Lord, Abbett & Co Jersey City, New Jersey	$1.38B	-$26.9M	14	4.76%	Reduced
80	DZ Bank Frankfurt Am Main, Germany	$1.38B	+$298M	14	2.07%	Increased
81	Balyasny Asset Management Chicago, Illinois	$1.38B	+$194M	38	3.03%	Increased
82	Hotchkis & Wiley Capital Management Los Angeles, California	$1.36B	-$58.9M	12	5.06%	Reduced
83	PNC Financial Services Group Pittsburgh, Pennsylvania	$1.36B	-$46.5M	61	1.16%	Reduced
84	Adage Capital Partners Boston, Massachusetts	$1.34B	+$40.2M	23	2.92%	Increased
85	EARNEST Partners Atlanta, Georgia	$1.34B	-$106M	36	7.48%	Reduced
86	Primecap Management Pasadena, California	$1.33B	-$72M	9	1.11%	Reduced
87	Citigroup New York	$1.32B	-$141M	71	0.86%	Reduced
88	AP Altarock Partners West Palm Beach, Florida	$1.21B	-$20.3M	1	29.15%	Reduced
89	AQR Capital Management Greenwich, Connecticut	$1.17B	+$73.8M	52	2.48%	Increased
90	Two Sigma Investments New York	$1.15B	+$21M	53	2.87%	Increased
91	State Board of Administration of Florida Retirement System Tallahassee, Florida	$1.14B	-$27M	54	2.52%	Reduced
92	New York State Teachers Retirement System (NYSTRS) Albany, New York	$1.13B	-$33.6M	42	2.55%	Reduced
93	Stockbridge Partners Boston, Massachusetts	$1.13B	+$51.6M	2	22.96%	Increased
94	SEI Investments Oaks, Pennsylvania	$1.08B	+$52.7M	56	1.89%	Increased
95	LPL Financial San Diego, California	$1.03B	+$41.9M	57	0.74%	Increased
96	Truist Financial Charlotte, North Carolina	$1.03B	-$31.5M	37	1.71%	Reduced
97	Baird Financial Group Milwaukee, Wisconsin	$1.03B	-$25.3M	35	2.71%	Reduced
98	Ensign Peak Advisors Salt Lake City, Utah	$1.01B	-$22.2M	42	2.05%	Reduced
99	Artisan Partners Milwaukee, Wisconsin	$981M	+$40.4M	8	1.58%	Increased
100	MCMC Matrix Capital Management Company Portsmouth, New Hampshire	$979M	$0	1	11.38%	Maintained