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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
101	Hotchkis & Wiley Capital Management Los Angeles, California	$785M	-$144M	6	3.61%	Reduced
102	Capital International Investors Los Angeles, California	$776M	-$108M	5	3.32%	Reduced
103	BlackRock Japan Tokyo, Japan	$773M	-$28.7M	28	3.68%	Reduced
104	D.E. Shaw & Co New York	$737M	+$115M	41	1.18%	Increased
105	Swiss National Bank Zurich, Switzerland	$732M	+$7.69M	46	3.05%	Increased
106	Suntrust Banks Atlanta, Georgia	$729M	-$101M	34	2.84%	Reduced
107	STRS Ohio Columbus, Ohio	$728M	-$80.1M	25	3.21%	Reduced
108	Waddell & Reed Financial Overland Park, Kansas	$717M	-$65.7M	12	1.37%	Reduced
109	Columbia Wanger Asset Management Chicago, Illinois	$713M	-$9.66M	4	2.87%	Reduced
110	Amundi Asset Management US Boston, Massachusetts	$711M	-$37.1M	8	2.88%	Reduced
111	Baupost Group Boston, Massachusetts	$700M	$0	1	20.01%	Maintained
112	Credit Agricole Montrouge Cedex, France	$687M	+$677M	24	3.01%	New
113	US Bancorp Minneapolis, Minnesota	$687M	-$14.3M	44	3.04%	Reduced
114	TCW Group Los Angeles, California	$654M	-$121M	14	3.02%	Reduced
115	Canada Life Winnipeg, Manitoba, Canada	$637M	+$324M	18	2.52%	Increased
116	Gabelli Funds Rye, New York	$627M	-$13.6M	25	3.57%	Reduced
117	AQR Capital Management Greenwich, Connecticut	$622M	-$24.1M	31	2.19%	Reduced
118	Veritas Asset Management London, United Kingdom	$611M	-$63.1M	2	14.47%	Reduced
119	Lazard Asset Management New York	$611M	-$87.4M	14	1.45%	Reduced
120	Macquarie Group Sydney, NSW 2000, Australia	$610M	-$15.9M	25	1.19%	Reduced
121	NFA Nationwide Fund Advisors Columbus, Ohio	$610M	-$21.3M	53	2.74%	Reduced
122	Renaissance Technologies New York	$596M	+$316M	54	1.45%	Increased
123	Ohio Public Employees Retirement System (OPERS) Columbus, Ohio	$592M	-$14.6M	40	3.18%	Reduced
124	Wedge Capital Management Charlotte, North Carolina	$592M	+$50.5M	13	6.82%	Increased
125	PCM Pennant Capital Management Summit, New Jersey	$586M	-$28.4M	3	10.5%	Reduced