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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	Credit Agricole Montrouge Cedex, France	$892M	-$29.1M	30	2.87%	Reduced
102	Millennium Management New York	$885M	+$99.2M	47	1.85%	Increased
103	Barclays London, United Kingdom	$879M	+$190M	56	0.95%	Increased
104	Baupost Group Boston, Massachusetts	$871M	-$10.4M	1	11.36%	Reduced
105	Stifel Financial St. Louis, Missouri	$855M	+$4.36M	34	3.63%	Increased
106	Schroder Investment Management Group London, United Kingdom	$855M	-$25.2M	19	1.64%	Reduced
107	STRS Ohio Columbus, Ohio	$847M	-$4.34M	29	3.73%	Reduced
108	USAA United Services Automobile Association San Antonio, Texas	$836M	-$65.8M	26	2.8%	Reduced
109	Citadel Advisors Miami, Florida	$836M	+$4.27M	45	0.84%	Increased
110	US Bancorp Minneapolis, Minnesota	$814M	-$14.7M	52	2.93%	Reduced
111	Prudential plc London, England, United Kingdom	$776M	-$107M	17	2.73%	Reduced
112	Caisse de Depot et Placement du Quebec (CDPQ) Montreal, Quebec, Canada	$771M	-$102M	12	1.95%	Reduced
113	Raymond James & Associates St Petersburg, Florida	$767M	+$1.05M	37	1.96%	Increased
114	Thomaspartners Boston, Massachusetts	$748M	+$44.6M	6	8.11%	Increased
115	Fred Alger Management New York	$747M	-$151M	9	4.06%	Reduced
116	Longview Partners St Peter Port, Guernsey	$741M	-$44.9M	1	4.9%	Reduced
117	State of Wisconsin Investment Board Madison, Wisconsin	$740M	-$171M	31	3.19%	Reduced
118	Citigroup New York	$738M	+$111M	55	0.66%	Increased
119	Guggenheim Capital Chicago, Illinois	$728M	+$83.8M	43	2.08%	Increased
120	Chevy Chase Trust Bethesda, Maryland	$728M	-$15.2M	14	3.86%	Reduced
121	Burgundy Asset Management Toronto, Ontario, Canada	$724M	-$69M	5	6.84%	Reduced
122	Hotchkis & Wiley Capital Management Los Angeles, California	$722M	-$70.2M	4	2.91%	Reduced
123	NFA Nationwide Fund Advisors Columbus, Ohio	$720M	-$3.03M	58	2.99%	Reduced
124	State of New Jersey Common Pension Fund D Trenton, New Jersey	$718M	-$153M	16	3.08%	Reduced
125	Diamond Hill Capital Management Columbus, Ohio	$687M	+$9.96M	4	3.99%	Increased