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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	AP Altarock Partners West Palm Beach, Florida	$926M	+$45.1M	1	23.61%	Increased
102	Harris Associates Chicago, Illinois	$923M	-$381M	5	1.22%	Reduced
103	Fred Alger Management New York	$912M	+$137M	13	2.91%	Increased
104	William Blair Investment Management Chicago, Illinois	$907M	+$41M	8	2.71%	Increased
105	JP Morgan Private Wealth Advisors San Francisco, California	$906M	+$55.7M	35	1.96%	Increased
106	AQR Capital Management Greenwich, Connecticut	$905M	+$57.1M	45	1.72%	Increased
107	Caisse de Depot et Placement du Quebec (CDPQ) Montreal, Quebec, Canada	$905M	-$114M	16	2.12%	Reduced
108	HSBC Holdings London, United Kingdom	$885M	-$292M	48	1.08%	Reduced
109	Balyasny Asset Management Chicago, Illinois	$884M	-$14.9M	31	2.79%	Reduced
110	Marshall Wace London, United Kingdom	$870M	+$422M	41	1.65%	Increased
111	Artisan Partners Milwaukee, Wisconsin	$864M	+$86.5M	7	1.14%	Increased
112	Thrivent Financial for Lutherans Minneapolis, Minnesota	$847M	-$55.3M	44	1.66%	Reduced
113	VS VK Services Menlo Park, California	$833M	-$107M	1	42.69%	Reduced
114	Schroder Investment Management Group London, United Kingdom	$808M	+$167M	28	1.07%	Increased
115	Baupost Group Boston, Massachusetts	$795M	$0	1	8.55%	Maintained
116	Korea Investment Corp Seoul, South Korea	$792M	+$119M	18	1.96%	Increased
117	Bessemer Group Woodbridge, New Jersey	$783M	-$240M	34	1.64%	Reduced
118	DZ Bank Frankfurt Am Main, Germany	$779M	-$491M	12	1.12%	Reduced
119	Brown Advisory Baltimore, Maryland	$769M	-$184M	23	1.15%	Reduced
120	GQG Partners Ft. Lauderdale, Florida	$768M	+$701M	2	1.78%	Increased
121	Susquehanna International Group Bala Cynwyd, Pennsylvania	$743M	-$49.1M	66	0.13%	Reduced
122	SEI Investments Oaks, Pennsylvania	$741M	-$25M	52	1.49%	Reduced
123	LPL Financial San Diego, California	$737M	-$14.9M	50	0.63%	Reduced
124	Baird Financial Group Milwaukee, Wisconsin	$726M	-$121M	34	1.8%	Reduced
125	Longview Partners St Peter Port, Guernsey	$725M	-$41.1M	1	4.75%	Reduced