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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	I.G. Investment Management Winnipeg, Manitoba, Canada	$806M	+$36.8M	13	2.88%	Increased
102	London Company of Virginia Richmond, Virginia	$787M	-$31.2M	5	8.78%	Reduced
103	BlackRock Japan Tokyo, Japan	$781M	+$44.3M	20	3.37%	Increased
104	Susquehanna International Group Bala Cynwyd, Pennsylvania	$763M	-$50.4M	44	0.29%	Reduced
105	Harris Associates Chicago, Illinois	$761M	-$99M	4	1.25%	Reduced
106	Guggenheim Capital Chicago, Illinois	$761M	+$92.9M	42	1.82%	Increased
107	Prudential plc London, England, United Kingdom	$755M	+$20M	13	3.12%	Increased
108	AIG American International Group New York	$753M	+$3.05M	52	3.32%	Increased
109	Columbia Wanger Asset Management Chicago, Illinois	$750M	-$42.7M	6	3.45%	Reduced
110	TCW Group Los Angeles, California	$733M	+$27.8M	13	2.95%	Increased
111	Acadian Asset Management Boston, Massachusetts	$732M	-$98.2M	21	3.54%	Reduced
112	Winton Group London, United Kingdom	$722M	-$21M	18	5.16%	Reduced
113	Swiss National Bank Zurich, Switzerland	$716M	-$13.9M	48	2.74%	Reduced
114	US Bancorp Minneapolis, Minnesota	$712M	-$3.62M	48	2.88%	Reduced
115	USAA United Services Automobile Association San Antonio, Texas	$707M	-$10.9M	21	2.55%	Reduced
116	Gabelli Funds Rye, New York	$700M	+$16M	25	3.55%	Increased
117	STRS Ohio Columbus, Ohio	$691M	-$8.56M	31	3.05%	Reduced
118	Amundi Asset Management US Boston, Massachusetts	$670M	-$31.8M	8	2.53%	Reduced
119	NFA Nationwide Fund Advisors Columbus, Ohio	$651M	-$28.5M	59	2.75%	Reduced
120	AL AJO LP Philadelphia, Pennsylvania	$650M	-$157M	12	2.88%	Reduced
121	Fiduciary Management Inc Milwaukee, Wisconsin	$640M	+$566M	2	3.45%	Increased
122	Baupost Group Boston, Massachusetts	$636M	$0	1	11.07%	Maintained
123	Brandywine Global Investment Management Philadelphia, Pennsylvania	$631M	+$68.1M	23	4.65%	Increased
124	Axa Paris, France	$621M	-$90.7M	22	2.66%	Reduced
125	BNP Paribas Financial Markets Paris, France	$620M	+$292M	49	0.54%	Increased