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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	Stifel Financial St. Louis, Missouri	$936M	+$53M	41	2.65%	Increased
102	BP Berkshire Partners Boston, Massachusetts	$927M	+$93.3M	1	84.18%	Increased
103	Amundi Asset Management US Boston, Massachusetts	$922M	-$120M	27	1.3%	Reduced
104	Lord, Abbett & Co Jersey City, New Jersey	$914M	-$53.4M	18	3.05%	Reduced
105	Viking Global Investors Stamford, Connecticut	$913M	-$167M	1	5.24%	Reduced
106	GAMCO Investors Greenwich, Connecticut	$895M	-$36M	23	6.82%	Reduced
107	LSV Asset Management Chicago, Illinois	$894M	+$160M	21	1.43%	Increased
108	Fidelity International Hamilton, Bermuda	$881M	+$287M	16	1.38%	Increased
109	Brown Advisory Baltimore, Maryland	$869M	+$14.1M	29	2.46%	Increased
110	Third Point New York	$835M	+$782M	1	9.29%	New
111	MetLife Investment Management Whippany, New Jersey	$815M	+$522M	50	2.44%	Increased
112	Glenmede Trust Philadelphia, Pennsylvania	$806M	-$3.68M	49	3.65%	Reduced
113	Diamond Hill Capital Management Columbus, Ohio	$806M	-$20.5M	3	4.43%	Reduced
114	Eagle Asset Management St Petersburg, Florida	$797M	+$39.3M	15	4.25%	Increased
115	State of New Jersey Common Pension Fund D Trenton, New Jersey	$793M	-$506K	19	2.97%	Reduced
116	National Pension Service Jeonju-Si, Jeollabuk-Do, South Korea	$781M	+$25.1M	12	3%	Increased
117	CIBC Private Wealth Group Atlanta, Georgia	$780M	+$42.7M	14	3.01%	Increased
118	Soroban Capital Partners New York	$758M	+$258M	1	13.72%	Increased
119	USAA United Services Automobile Association San Antonio, Texas	$757M	-$41M	44	1.95%	Reduced
120	Fiduciary Management Inc Milwaukee, Wisconsin	$756M	-$38.2M	3	4.94%	Reduced
121	Chevy Chase Trust Bethesda, Maryland	$755M	-$7.37M	14	3.12%	Reduced
122	Pzena Investment Management New York	$754M	-$48.3M	4	4.1%	Reduced
123	Lone Pine Capital Greenwich, Connecticut	$754M	+$56.3M	1	4.41%	Increased
124	Aberdeen Group Edinburgh, United Kingdom	$753M	+$159M	17	1.63%	Increased
125	Pershing Square Capital Management New York	$750M	+$29.1M	1	11.17%	Increased