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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	Artisan Partners Milwaukee, Wisconsin	$762M	-$17.5M	7	1.34%	Reduced
102	Bessemer Group Woodbridge, New Jersey	$760M	+$3.08M	43	1.98%	Increased
103	TD Asset Management Toronto, Ontario, Canada	$757M	-$12.2M	26	0.95%	Reduced
104	Russell Investments Group London, United Kingdom	$750M	-$55.6M	56	1.65%	Reduced
105	Kayne Anderson Rudnick Investment Management Los Angeles, California	$734M	-$9.23M	15	2.44%	Reduced
106	William Blair Investment Management Chicago, Illinois	$727M	+$65.4M	7	2.87%	Increased
107	State of Wisconsin Investment Board Madison, Wisconsin	$726M	-$72.5M	59	2.3%	Reduced
108	Ensign Peak Advisors Salt Lake City, Utah	$721M	-$1.63M	50	1.79%	Reduced
109	SEI Investments Oaks, Pennsylvania	$720M	+$5.89M	54	1.61%	Increased
110	HSBC Holdings London, United Kingdom	$717M	-$65.9M	41	1.17%	Reduced
111	GQG Partners Ft. Lauderdale, Florida	$705M	-$99.1M	4	2.04%	Reduced
112	LPL Financial San Diego, California	$700M	+$53.4M	53	0.68%	Increased
113	Jennison Associates New York	$699M	+$417M	8	0.7%	Increased
114	Thrivent Financial for Lutherans Minneapolis, Minnesota	$690M	-$68.9M	44	1.89%	Reduced
115	Schroder Investment Management Group London, United Kingdom	$687M	-$32.1M	26	1.14%	Reduced
116	Korea Investment Corp Seoul, South Korea	$685M	+$69.1M	19	2.11%	Increased
117	AL AIP LLC New York	$671M	+$659M	1	68.83%	New
118	Fred Alger Management New York	$654M	+$17.7M	14	3.31%	Increased
119	Baird Financial Group Milwaukee, Wisconsin	$622M	+$44.3M	29	1.83%	Increased
120	Two Sigma Investments New York	$618M	+$56.8M	38	2.1%	Increased
121	Caisse de Depot et Placement du Quebec (CDPQ) Montreal, Quebec, Canada	$586M	+$68.3M	15	1.7%	Increased
122	Luther King Capital Management (LKCM) Fort Worth, Texas	$583M	+$5.43M	19	3.48%	Increased
123	Susquehanna International Group Bala Cynwyd, Pennsylvania	$577M	+$106M	72	0.15%	Increased
124	MCMC Matrix Capital Management Company Portsmouth, New Hampshire	$575M	$0	1	10.99%	Maintained
125	Balyasny Asset Management Chicago, Illinois	$573M	-$536M	32	1.76%	Reduced