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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	Victory Capital Management San Antonio, Texas	$2.55B	+$140M	58	1.49%	Increased
77	VOYA Investment Management Atlanta, Georgia	$2.49B	-$342M	58	2.48%	Reduced
78	Renaissance Technologies New York	$2.45B	-$1.01B	62	3.24%	Reduced
79	Primecap Management Pasadena, California	$2.43B	+$78M	13	1.86%	Increased
80	Baird Financial Group Milwaukee, Wisconsin	$2.43B	+$74.1M	42	3.9%	Increased
81	National Bank of Canada Montreal, Quebec, Canada	$2.37B	-$197M	49	2.36%	Reduced
82	Manulife (Manufacturers Life Insurance) Canada, Ontario, Canada	$2.3B	+$58.4M	64	1.89%	Increased
83	Prudential Financial Newark, New Jersey	$2.29B	+$108M	59	2.72%	Increased
84	Arrowstreet Capital Boston, Massachusetts	$2.25B	-$339M	44	1.42%	Reduced
85	Natixis Advisors Boston, Massachusetts	$2.24B	+$49.1M	45	3.26%	Increased
86	PNC Financial Services Group Pittsburgh, Pennsylvania	$2.22B	+$159M	73	1.35%	Increased
87	Brown Advisory Baltimore, Maryland	$2.13B	-$226M	38	2.77%	Reduced
88	EARNEST Partners Atlanta, Georgia	$2.12B	-$13.2M	14	9.2%	Reduced
89	Fidelity International Hamilton, Bermuda	$2.09B	+$100M	33	1.64%	Increased
90	Qube Research & Technologies (QRT) London, United Kingdom	$2.06B	+$323M	54	2.12%	Increased
91	Schroder Investment Management Group London, United Kingdom	$2.03B	-$128M	31	1.59%	Reduced
92	Two Sigma Advisers New York	$2.03B	+$96.9M	48	4.05%	Increased
93	Lord, Abbett & Co Jersey City, New Jersey	$1.98B	-$13.2M	25	5.91%	Reduced
94	TD Asset Management Toronto, Ontario, Canada	$1.97B	+$85.7M	34	1.6%	Increased
95	Macquarie Group Sydney, NSW 2000, Australia	$1.96B	-$196M	44	2.29%	Reduced
96	Two Sigma Investments New York	$1.92B	+$458M	75	2.85%	Increased
97	Jane Street New York	$1.89B	+$684M	88	0.29%	Increased
98	Allspring Global Investments Charlotte, North Carolina	$1.89B	-$187M	41	3.04%	Reduced
99	Caisse de Depot et Placement du Quebec (CDPQ) Montreal, Quebec, Canada	$1.89B	-$1.27M	16	3.4%	Reduced
100	State Board of Administration of Florida Retirement System Tallahassee, Florida	$1.85B	-$106M	52	3.24%	Reduced