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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	Jane Street New York	$1.77B	+$570M	78	0.4%	Increased
77	D.E. Shaw & Co New York	$1.72B	+$367M	48	1.61%	Increased
78	Amundi Paris, France	$1.72B	+$331M	31	0.66%	Increased
79	WCM Investment Management Laguna Beach, California	$1.62B	-$254M	8	3.82%	Reduced
80	SEI Investments Oaks, Pennsylvania	$1.6B	+$70M	55	2.26%	Increased
81	Renaissance Technologies New York	$1.59B	-$131M	60	2.69%	Reduced
82	Mitsubishi UFJ Asset Management Tokyo, Japan	$1.59B	+$99.8M	49	1.93%	Increased
83	Allspring Global Investments Charlotte, North Carolina	$1.56B	-$74.7M	47	2.54%	Reduced
84	Manulife (Manufacturers Life Insurance) Canada, Ontario, Canada	$1.53B	-$235M	56	1.43%	Reduced
85	Brown Advisory Baltimore, Maryland	$1.52B	-$21.7M	30	1.99%	Reduced
86	LPL Financial San Diego, California	$1.44B	+$86.2M	68	0.72%	Increased
87	PNC Financial Services Group Pittsburgh, Pennsylvania	$1.43B	-$53.1M	59	0.95%	Reduced
88	MCMC Matrix Capital Management Company Portsmouth, New Hampshire	$1.4B	$0	1	10.65%	Maintained
89	AP Altarock Partners West Palm Beach, Florida	$1.37B	-$107M	1	28.22%	Reduced
90	Lazard Asset Management New York	$1.35B	-$195M	44	1.7%	Reduced
91	1832 Asset Management Toronto, Ontario, Canada	$1.3B	-$66.6M	19	1.06%	Reduced
92	Mackenzie Financial Toronto Ontario, Ontario, Canada	$1.28B	-$205M	31	1.9%	Reduced
93	Baird Financial Group Milwaukee, Wisconsin	$1.26B	-$72.9M	33	2.62%	Reduced
94	Natixis Advisors Boston, Massachusetts	$1.23B	-$9.73M	43	2.68%	Reduced
95	BNP Paribas Financial Markets Paris, France	$1.22B	+$196M	56	1%	Increased
96	CIBC Private Wealth Group Atlanta, Georgia	$1.22B	-$81.6M	51	2.29%	Reduced
97	Prudential Financial Newark, New Jersey	$1.2B	-$227M	47	1.8%	Reduced
98	State Board of Administration of Florida Retirement System Tallahassee, Florida	$1.2B	-$177M	49	2.36%	Reduced
99	Hotchkis & Wiley Capital Management Los Angeles, California	$1.19B	-$255M	11	4.16%	Reduced
100	Ensign Peak Advisors Salt Lake City, Utah	$1.19B	+$114M	41	2.18%	Increased