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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	Canada Life Winnipeg, Manitoba, Canada	$915M	-$75.2M	50	2.17%	Reduced
102	Diamond Hill Capital Management Columbus, Ohio	$912M	-$9.63M	4	4.55%	Reduced
103	Two Sigma Investments New York	$890M	+$146M	25	2.43%	Increased
104	Mackenzie Financial Toronto Ontario, Ontario, Canada	$888M	+$21.5M	17	2.16%	Increased
105	Baupost Group Boston, Massachusetts	$878M	$0	1	6.73%	Maintained
106	Epoch Investment Partners New York	$875M	-$11.2M	8	3.32%	Reduced
107	USAA United Services Automobile Association San Antonio, Texas	$845M	-$10.8M	46	2.12%	Reduced
108	Westwood Holdings Group Dallas, Texas	$839M	-$15.4M	12	7.36%	Reduced
109	DZ Bank Frankfurt Am Main, Germany	$832M	+$14M	10	2.96%	Increased
110	Citigroup New York	$828M	+$80.1M	54	0.74%	Increased
111	Glenmede Trust Philadelphia, Pennsylvania	$820M	-$22.1M	24	3.29%	Reduced
112	US Bancorp Minneapolis, Minnesota	$808M	-$6.15M	55	2.34%	Reduced
113	BNP Paribas Financial Markets Paris, France	$804M	-$2.41M	56	1.19%	Reduced
114	Trian Fund Management New York	$800M	+$52.5K	1	7.74%	Increased
115	Renaissance Technologies New York	$798M	-$428M	50	0.82%	Reduced
116	London Company of Virginia Richmond, Virginia	$794M	-$31.6M	4	6.18%	Reduced
117	Fiduciary Management Inc Milwaukee, Wisconsin	$790M	-$32.7M	3	4.95%	Reduced
118	State of New Jersey Common Pension Fund D Trenton, New Jersey	$789M	+$1.31M	21	2.91%	Increased
119	Eagle Asset Management St Petersburg, Florida	$780M	+$13M	17	3.77%	Increased
120	Chevy Chase Trust Bethesda, Maryland	$769M	-$22.5M	14	3.19%	Reduced
121	CIBC Private Wealth Group Atlanta, Georgia	$752M	+$19.9M	17	2.85%	Increased
122	National Pension Service Jeonju-Si, Jeollabuk-Do, South Korea	$751M	+$2.57M	12	3.06%	Increased
123	Aberdeen Group Edinburgh, United Kingdom	$745M	-$33.1M	16	1.39%	Reduced
124	STRS Ohio Columbus, Ohio	$743M	-$66.9M	34	3.26%	Reduced
125	Gabelli Funds Rye, New York	$737M	-$6.53M	27	4.23%	Reduced