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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	Dodge & Cox San Francisco, California	$886M	-$129M	4	0.8%	Reduced
102	State of New Jersey Common Pension Fund D Trenton, New Jersey	$866M	+$25.7M	20	3.33%	Increased
103	Macquarie Group Sydney, NSW 2000, Australia	$849M	-$87.8M	27	1.68%	Reduced
104	Susquehanna International Group Bala Cynwyd, Pennsylvania	$821M	+$106M	48	0.35%	Increased
105	STRS Ohio Columbus, Ohio	$820M	+$43.1M	33	3.6%	Increased
106	Credit Agricole Montrouge Cedex, France	$810M	-$44.1M	24	3.8%	Reduced
107	Canada Life Winnipeg, Manitoba, Canada	$807M	-$35M	47	2.79%	Reduced
108	Barclays London, United Kingdom	$803M	-$67.9M	58	0.9%	Reduced
109	Waddell & Reed Financial Overland Park, Kansas	$803M	-$201M	13	1.15%	Reduced
110	USAA United Services Automobile Association San Antonio, Texas	$776M	-$11.2M	26	2.72%	Reduced
111	Prudential plc London, England, United Kingdom	$775M	+$88.5M	13	2.96%	Increased
112	NFA Nationwide Fund Advisors Columbus, Ohio	$750M	-$48.2M	55	3.08%	Reduced
113	I.G. Investment Management Winnipeg, Manitoba, Canada	$745M	-$134M	16	2.83%	Reduced
114	Brandywine Global Investment Management Philadelphia, Pennsylvania	$743M	-$132M	24	4.65%	Reduced
115	US Bancorp Minneapolis, Minnesota	$736M	-$7.19M	50	2.85%	Reduced
116	Longview Partners St Peter Port, Guernsey	$734M	+$762M	1	4.82%	New
117	Royce & Associates New York	$730M	-$63.1M	31	3.09%	Reduced
118	Axa Paris, France	$726M	+$28.5M	20	2.91%	Increased
119	Gabelli Funds Rye, New York	$718M	+$2.8M	26	3.76%	Increased
120	Hotchkis & Wiley Capital Management Los Angeles, California	$716M	+$94.4M	5	2.52%	Increased
121	Citigroup New York	$714M	+$127M	63	0.63%	Increased
122	Westwood Holdings Group Dallas, Texas	$697M	+$39.9M	11	5.24%	Increased
123	Baupost Group Boston, Massachusetts	$695M	$0	1	11.59%	Maintained
124	Panagora Asset Management Boston, Massachusetts	$689M	+$38.3M	44	3.45%	Increased
125	AL AJO LP Philadelphia, Pennsylvania	$685M	+$113M	10	2.92%	Increased