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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
Diamond Hill Capital Management
Diamond Hill Capital Management
Ohio
$615M -$21.4M 3 3.89% Reduced
127
Thomaspartners
Thomaspartners
Massachusetts
$613M +$69.4M 5 8.04% Increased
128
Raymond James & Associates
Raymond James & Associates
Florida
$607M +$615K 32 1.9% Increased
129
Barclays
Barclays
United Kingdom
$604M +$35.6M 53 0.79% Increased
130
Guggenheim Capital
Guggenheim Capital
Illinois
$597M +$1.09M 43 1.88% Increased
131
I.G. Investment Management
I.G. Investment Management
Manitoba, Canada
$590M +$25.7M 16 2.34% Increased
132
Axa
Axa
France
$586M -$29.8M 22 2.61% Reduced
133
Panagora Asset Management
Panagora Asset Management
Massachusetts
$576M +$14.7M 40 2.86% Increased
134
Ohio Public Employees Retirement System (OPERS)
Ohio Public Employees Retirement System (OPERS)
Ohio
$573M -$23.2M 43 3.7% Reduced
135
Victory Capital Management
Victory Capital Management
Texas
$568M +$36.4M 30 2.27% Increased
136
Hotchkis & Wiley Capital Management
Hotchkis & Wiley Capital Management
California
$567M +$11.2M 4 2.42% Increased
137
Thrivent Financial for Lutherans
Thrivent Financial for Lutherans
Minnesota
$559M -$5.34M 44 2.67% Reduced
138
Aviva
Aviva
United Kingdom
$555M +$44.5M 12 3.8% Increased
139
Citigroup
Citigroup
New York
$554M +$2.56M 58 0.57% Increased
140
Amundi Asset Management US
Amundi Asset Management US
Massachusetts
$552M -$1.2M 10 2% Reduced
141
Royce & Associates
Royce & Associates
New York
$542M -$13.8M 29 3.58% Reduced
142
Artisan Partners
Artisan Partners
Wisconsin
$538M -$124M 6 1.14% Reduced
143
Korea Investment Corp
Korea Investment Corp
South Korea
$537M +$102M 11 3.2% Increased
144
AL
AJO LP
Pennsylvania
$531M -$25.7M 9 2.36% Reduced
145
Brown Advisory
Brown Advisory
Maryland
$528M +$66M 20 1.85% Increased
146
Loomis, Sayles & Company
Loomis, Sayles & Company
Massachusetts
$513M +$5.39M 25 1.4% Increased
147
Teacher Retirement System of Texas
Teacher Retirement System of Texas
Texas
$510M -$13.1M 46 3.47% Reduced
148
Fiduciary Management Inc
Fiduciary Management Inc
Wisconsin
$507M -$20.4M 2 3.09% Reduced
149
State of Michigan Retirement System
State of Michigan Retirement System
Michigan
$504M +$80.6M 26 3.95% Increased
150
M&T Bank
M&T Bank
New York
$498M -$2.46M 25 3.35% Reduced
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