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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	Hotchkis & Wiley Capital Management Los Angeles, California	$631M	-$71M	6	2.34%	Reduced
127	William Blair & Company Chicago, Illinois	$617M	+$95.6M	21	1.02%	Increased
128	Winton Capital Management London, United Kingdom	$616M	+$230M	14	4.25%	Increased
129	Wedge Capital Management Charlotte, North Carolina	$616M	-$105M	13	6.47%	Reduced
130	NFA Nationwide Fund Advisors Columbus, Ohio	$615M	-$110M	51	2.84%	Reduced
131	Retirement Systems of Alabama Montgomery, Alabama	$611M	-$1.2M	22	3.54%	Reduced
132	Ohio Public Employees Retirement System (OPERS) Columbus, Ohio	$608M	-$49.1M	40	3.54%	Reduced
133	Citigroup New York	$601M	-$230M	64	0.61%	Reduced
134	First Manhattan New York	$601M	+$63.8M	19	3.96%	Increased
135	Ruffer LLP London, United Kingdom	$597M	-$47M	5	18.27%	Reduced
136	Fidelity International Hamilton, Bermuda	$593M	+$132M	11	2.15%	Increased
137	State of Tennessee, Department of Treasury Nashville, Tennessee	$584M	+$9.82M	34	3.41%	Increased
138	Veritas Asset Management London, United Kingdom	$569M	-$131M	1	10.11%	Reduced
139	Capital Guardian Trust Los Angeles, California	$554M	+$47.9M	13	3.75%	Increased
140	Chevy Chase Trust Bethesda, Maryland	$553M	-$2.66M	13	3.96%	Reduced
141	BNP Paribas Financial Markets Paris, France	$540M	+$106M	44	0.42%	Increased
142	Diamond Hill Capital Management Columbus, Ohio	$539M	+$12.1M	3	4.62%	Increased
143	National Rural Electric Cooperative Association Arlington, Virginia	$537M	-$842K	9	10.68%	Reduced
144	Fred Alger Management New York	$534M	+$89.5M	10	2.65%	Increased
145	1832 Asset Management Toronto, Ontario, Canada	$524M	-$125M	10	1.8%	Reduced
146	Brandywine Global Investment Management Philadelphia, Pennsylvania	$524M	+$50.5M	23	4.55%	Increased
147	Gateway Investment Advisers Cincinnati, Ohio	$519M	-$25.5M	13	4.21%	Reduced
148	Fayez Sarofim & Co Houston, Texas	$495M	-$40.9M	7	2.36%	Reduced
149	EA Euclid Advisors Hartford, Connecticut	$487M	+$139M	11	3.67%	Increased
150	Tiger Global Management New York	$486M	$0	1	6.6%	Maintained