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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
126	Macquarie Group Sydney, NSW 2000, Australia	$561M	+$539M	26	1.22%	New
127	Thornburg Investment Management Santa Fe, New Mexico	$553M	+$532M	1	2.52%	New
128	SG Americas Securities New York	$548M	+$538M	25	2.68%	New
129	FP FPR Partners San Francisco, California	$523M	+$447M	2	21.3%	New
130	Winslow Capital Management Minneapolis, Minnesota	$521M	+$526M	1	1.7%	New
131	Artisan Partners Milwaukee, Wisconsin	$513M	+$504M	9	1.1%	New
132	First Manhattan New York	$509M	+$467M	17	3.5%	New
133	USAA United Services Automobile Association San Antonio, Texas	$504M	+$492M	20	2.34%	New
134	Retirement Systems of Alabama Montgomery, Alabama	$498M	+$489M	23	3.34%	New
135	Wedge Capital Management Charlotte, North Carolina	$496M	+$474M	13	5.96%	New
136	Panagora Asset Management Boston, Massachusetts	$486M	+$470M	35	2.49%	New
137	BP Berkshire Partners Boston, Massachusetts	$485M	+$465M	1	100%	New
138	London Company of Virginia Richmond, Virginia	$476M	+$481M	3	6.94%	New
139	Gateway Investment Advisers Cincinnati, Ohio	$473M	+$464M	14	4.11%	New
140	Sanders Capital West Palm Beach, Florida	$472M	+$456M	2	6.44%	New
141	Capital Guardian Trust Los Angeles, California	$471M	+$458M	13	3.27%	New
142	Fayez Sarofim & Co Houston, Texas	$469M	+$470M	7	2.35%	New
143	Thrivent Financial for Lutherans Minneapolis, Minnesota	$469M	+$462M	31	3.04%	New
144	Axa Paris, France	$462M	+$448M	22	2.45%	New
145	Westwood Holdings Group Dallas, Texas	$455M	+$441M	8	3.97%	New
146	National Rural Electric Cooperative Association Arlington, Virginia	$449M	+$444M	8	10.82%	New
147	Chevy Chase Trust Bethesda, Maryland	$438M	+$429M	14	3.84%	New
148	I.G. Investment Management Winnipeg, Manitoba, Canada	$438M	+$430M	12	1.77%	New
149	Eagle Asset Management St Petersburg, Florida	$434M	+$420M	10	2.88%	New
150	Diamond Hill Capital Management Columbus, Ohio	$430M	+$427M	3	4.63%	New