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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
USAA
United Services Automobile Association
Texas
$582M +$25.2M 21 2.49% Increased
127
BNP Paribas Financial Markets
BNP Paribas Financial Markets
France
$582M -$563M 34 0.42% Reduced
128
Winslow Capital Management
Winslow Capital Management
Minnesota
$557M -$46M 1 1.81% Reduced
129
State of Tennessee, Department of Treasury
State of Tennessee, Department of Treasury
Tennessee
$552M +$536M 33 3.35% New
130
Retirement Systems of Alabama
Retirement Systems of Alabama
Alabama
$547M +$8.56M 22 3.48% Increased
131
I.G. Investment Management
I.G. Investment Management
Manitoba, Canada
$531M +$54.2M 11 2.01% Increased
132
Capital Guardian Trust
Capital Guardian Trust
California
$524M -$6.85M 14 3.62% Reduced
133
1832 Asset Management
1832 Asset Management
Ontario, Canada
$523M -$76.8M 8 2.32% Reduced
134
Eagle Asset Management
Eagle Asset Management
Florida
$523M +$60.4M 11 2.59% Increased
135
Commerzbank Aktiengesellschaft
Commerzbank Aktiengesellschaft
Germany
$517M +$75.8M 19 2.58% Increased
136
Thrivent Financial for Lutherans
Thrivent Financial for Lutherans
Minnesota
$515M -$17M 31 3.26% Reduced
137
Sarofim Fayez
Sarofim Fayez
Texas
$515M +$506M 7 2.52% New
138
Guggenheim Capital
Guggenheim Capital
Illinois
$514M +$56.3M 39 1.84% Increased
139
First Manhattan
First Manhattan
New York
$511M -$425K 16 3.57% Reduced
140
Axa
Axa
France
$504M -$95.3K 23 2.48% Reduced
141
Susquehanna International Group
Susquehanna International Group
Pennsylvania
$504M +$41.7M 35 0.27% Increased
142
Gateway Investment Advisers
Gateway Investment Advisers
Ohio
$502M -$9.33M 13 4.27% Reduced
143
London Company of Virginia
London Company of Virginia
Virginia
$497M -$26.4M 3 6.76% Reduced
144
Pzena Investment Management
Pzena Investment Management
New York
$492M -$252M 5 3.18% Reduced
145
Westwood Holdings Group
Westwood Holdings Group
Texas
$490M -$11.4M 9 4.14% Reduced
146
Thornburg Investment Management
Thornburg Investment Management
New Mexico
$487M +$578K 1 1.96% Increased
147
Fred Alger Management
Fred Alger Management
New York
$486M +$33.3M 10 2.7% Increased
148
Chevy Chase Trust
Chevy Chase Trust
Maryland
$486M +$6.84M 13 3.97% Increased
149
ING Group
ING Group
Netherlands
$481M -$136M 9 2.42% Reduced
150
Diamond Hill Capital Management
Diamond Hill Capital Management
Ohio
$481M -$15.5M 3 4.84% Reduced
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