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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	Raymond James & Associates St Petersburg, Florida	$779M	-$42.3M	41	1.36%	Reduced
102	National Pension Service Jeonju-Si, Jeollabuk-Do, South Korea	$760M	+$44M	12	3.13%	Increased
103	Two Sigma Investments New York	$745M	+$39.5M	37	2.92%	Increased
104	Stifel Financial St. Louis, Missouri	$743M	-$44.7M	35	2.4%	Reduced
105	Fred Alger Management New York	$732M	-$142M	14	3.37%	Reduced
106	Charles Schwab Investment Advisory San Francisco, California	$730M	+$16.2M	3	1.38%	Increased
107	Prudential plc London, England, United Kingdom	$726M	-$28.8M	21	2.92%	Reduced
108	Tiger Global Management New York	$703M	+$76.2M	1	4.68%	Increased
109	Brown Advisory Baltimore, Maryland	$699M	-$45M	28	2.35%	Reduced
110	Diamond Hill Capital Management Columbus, Ohio	$697M	-$26.3M	4	4.09%	Reduced
111	Glenmede Trust Philadelphia, Pennsylvania	$685M	+$25.1M	50	3.34%	Increased
112	State of New Jersey Common Pension Fund D Trenton, New Jersey	$675M	+$86.5M	19	2.88%	Increased
113	USAA United Services Automobile Association San Antonio, Texas	$670M	+$3.51M	44	1.94%	Increased
114	Canada Life Winnipeg, Manitoba, Canada	$663M	-$47.5M	51	1.9%	Reduced
115	Holocene Advisors New York	$661M	+$327M	23	10.66%	Increased
116	Fiduciary Management Inc Milwaukee, Wisconsin	$651M	-$22.4M	3	4.64%	Reduced
117	Eagle Asset Management St Petersburg, Florida	$642M	+$449K	16	4.04%	Increased
118	LSV Asset Management Chicago, Illinois	$636M	+$301M	19	1.13%	Increased
119	Westwood Holdings Group Dallas, Texas	$631M	-$64.7M	12	7.21%	Reduced
120	US Bancorp Minneapolis, Minnesota	$625M	-$25.5M	55	2.02%	Reduced
121	DZ Bank Frankfurt Am Main, Germany	$624M	-$16.1M	10	2.42%	Reduced
122	BP Berkshire Partners Boston, Massachusetts	$616M	$0	1	73.32%	Maintained
123	STRS Ohio Columbus, Ohio	$615M	+$20.3M	33	3.12%	Increased
124	CIBC Private Wealth Group Atlanta, Georgia	$614M	-$168K	15	2.74%	Reduced
125	Stockbridge Partners Boston, Massachusetts	$613M	$0	1	27.7%	Maintained