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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	Baupost Group Boston, Massachusetts	$871M	$0	1	9.95%	Maintained
102	Westwood Holdings Group Dallas, Texas	$870M	-$81.9M	13	7.09%	Reduced
103	Schroder Investment Management Group London, United Kingdom	$861M	+$2.59M	22	1.55%	Increased
104	USAA United Services Automobile Association San Antonio, Texas	$859M	-$18.8M	29	2.61%	Reduced
105	US Bancorp Minneapolis, Minnesota	$837M	+$1.41M	52	2.79%	Increased
106	TOGEPT Trustees of General Electric Pension Trust Norwalk, Connecticut	$837M	$0	1	100%	Maintained
107	BNP Paribas Financial Markets Paris, France	$828M	+$22.3M	53	2.5%	Increased
108	Longview Partners St Peter Port, Guernsey	$821M	+$57.4M	1	4.73%	Increased
109	Credit Agricole Montrouge Cedex, France	$817M	-$152M	25	2.68%	Reduced
110	Diamond Hill Capital Management Columbus, Ohio	$813M	-$9.03M	4	4.39%	Reduced
111	Raymond James & Associates St Petersburg, Florida	$806M	+$3.67M	42	1.74%	Increased
112	Citigroup New York	$799M	+$62.1M	53	0.72%	Increased
113	Guggenheim Capital Chicago, Illinois	$789M	-$6.68M	41	2.09%	Reduced
114	Prudential plc London, England, United Kingdom	$785M	-$46.9M	18	2.57%	Reduced
115	Chevy Chase Trust Bethesda, Maryland	$756M	-$3.79M	13	3.62%	Reduced
116	TimesSquare Capital Management New York	$755M	+$42.3M	9	4.86%	Increased
117	NFA Nationwide Fund Advisors Columbus, Ohio	$751M	-$88.1M	57	3.01%	Reduced
118	First Trust Advisors Wheaton, Illinois	$749M	+$162M	41	2%	Increased
119	Fiduciary Management Inc Milwaukee, Wisconsin	$744M	-$11.1M	3	4.47%	Reduced
120	Brown Advisory Baltimore, Maryland	$743M	+$31.5M	24	2.27%	Increased
121	Winslow Capital Management Minneapolis, Minnesota	$737M	-$141M	4	3.93%	Reduced
122	Two Sigma Advisers New York	$725M	+$114M	33	2.39%	Increased
123	Caisse de Depot et Placement du Quebec (CDPQ) Montreal, Quebec, Canada	$721M	+$78.5M	16	1.76%	Increased
124	Panagora Asset Management Boston, Massachusetts	$719M	-$572K	43	2.89%	Reduced
125	STRS Ohio Columbus, Ohio	$713M	-$64.2M	29	3.18%	Reduced