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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	Lazard Asset Management New York	$648M	-$7.83M	13	1.35%	Reduced
127	Retirement Systems of Alabama Montgomery, Alabama	$619M	+$4.22M	21	3.45%	Increased
128	First Manhattan New York	$616M	+$9.3M	19	3.9%	Increased
129	Renaissance Technologies New York	$612M	+$160M	45	1.43%	Increased
130	1832 Asset Management Toronto, Ontario, Canada	$600M	+$57.5M	10	1.89%	Increased
131	Ohio Public Employees Retirement System (OPERS) Columbus, Ohio	$594M	-$17.7M	39	3.34%	Reduced
132	Hotchkis & Wiley Capital Management Los Angeles, California	$593M	-$39.5M	6	2.09%	Reduced
133	Ruffer LLP London, United Kingdom	$586M	-$18.8M	4	19.03%	Reduced
134	Brandywine Global Investment Management Philadelphia, Pennsylvania	$574M	+$45.6M	24	4.49%	Increased
135	Diamond Hill Capital Management Columbus, Ohio	$568M	+$22.4M	3	4.47%	Increased
136	Fred Alger Management New York	$555M	+$21.1M	10	2.74%	Increased
137	National Rural Electric Cooperative Association Arlington, Virginia	$551M	+$3.57M	9	10.27%	Increased
138	Wedge Capital Management Charlotte, North Carolina	$551M	-$50.1M	13	5.62%	Reduced
139	Veritas Asset Management London, United Kingdom	$550M	-$10.6M	1	9.3%	Reduced
140	Chevy Chase Trust Bethesda, Maryland	$546M	-$10.9M	13	3.79%	Reduced
141	Fidelity International Hamilton, Bermuda	$544M	-$50.3M	10	2.04%	Reduced
142	Thrivent Financial for Lutherans Minneapolis, Minnesota	$530M	+$94.9M	35	2.99%	Increased
143	State of Tennessee, Department of Treasury Nashville, Tennessee	$529M	-$58.4M	34	2.99%	Reduced
144	Gateway Investment Advisers Cincinnati, Ohio	$526M	+$2.53M	13	4.11%	Increased
145	Capital Guardian Trust Los Angeles, California	$511M	-$34.9M	13	3.48%	Reduced
146	William Blair & Company Chicago, Illinois	$506M	-$88.3M	21	0.83%	Reduced
147	Aristotle Capital Management Los Angeles, California	$504M	+$39.3M	7	6.71%	Increased
148	Two Sigma Investments New York	$473M	+$50.5M	35	2.13%	Increased
149	Fayez Sarofim & Co Houston, Texas	$472M	-$23.4M	8	2.16%	Reduced
150	Atalanta Sosnoff Capital New York	$469M	+$25.3M	5	10.27%	Increased