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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
151	SCM Shapiro Capital Management Atlanta, Georgia	$468M	+$3.68M	4	13.23%	Increased
152	National Rural Electric Cooperative Association Arlington, Virginia	$453M	-$19.1M	7	10.34%	Reduced
153	Comerica Bank Dallas, Texas	$452M	+$65M	44	3.14%	Increased
154	Northern Trust Company of Connecticut Stamford, Connecticut	$450M	-$8.15M	37	2.91%	Reduced
155	MLICM Metropolitan Life Insurance Company (MetLife) New York	$442M	-$4.2M	47	3.38%	Reduced
156	Loomis, Sayles & Company Boston, Massachusetts	$436M	-$7.94M	10	1.41%	Reduced
157	Ruffer LLP London, United Kingdom	$435M	+$19.2M	4	20.22%	Increased
158	Sanders Capital West Palm Beach, Florida	$433M	-$78.4M	2	5.95%	Reduced
159	SG Americas Securities New York	$430M	-$160M	39	1.76%	Reduced
160	Artisan Partners Milwaukee, Wisconsin	$430M	-$128M	7	0.83%	Reduced
161	BP Berkshire Partners Boston, Massachusetts	$429M	$0	1	100%	Maintained
162	LBG Lloyds Banking Group London, United Kingdom	$425M	+$15.6M	13	4.35%	Increased
163	William Blair & Company Chicago, Illinois	$425M	+$77.5M	20	0.76%	Increased
164	Aviva London, United Kingdom	$420M	+$34.5M	14	3.69%	Increased
165	Brandywine Global Investment Management Philadelphia, Pennsylvania	$420M	-$29.7M	22	4.18%	Reduced
166	Perkins Investment Management Chicago, Illinois	$416M	-$8.14M	6	2.86%	Reduced
167	Sculptor Capital New York	$413M	-$248K	4	1.17%	Reduced
168	KeyBank National Association Cleveland, Ohio	$409M	-$400M	18	2.81%	Reduced
169	MC Montag & Caldwell Atlanta, Georgia	$408M	+$30.9M	1	3.08%	Increased
170	AWM Ashmore Wealth Management Wilmington, Delaware	$408M	$0	2	8.89%	Maintained
171	Robeco Institutional Asset Management Rotterdam, Netherlands	$404M	+$11.3M	11	3.92%	Increased
172	CM CS McKee Pittsburgh, Pennsylvania	$404M	-$21.2M	4	6.86%	Reduced
173	MCM Mason Capital Management New York	$401M	$0	1	7.57%	Maintained
174	abrdn Investment Management Edinburgh, United Kingdom	$400M	-$55.7M	13	2.32%	Reduced
175	Teacher Retirement System of Texas Austin, Texas	$393M	-$9.82M	44	3.45%	Reduced