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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	Natixis Paris, France	$556M	+$267M	18	3.5%	Increased
152	Westfield Capital Management Boston, Massachusetts	$555M	-$17.7M	4	4.22%	Reduced
153	Fiera Capital (Canada) Montreal, Quebec, Canada	$553M	+$5.56M	9	2.16%	Increased
154	Select Equity Group New York	$544M	-$70.8M	4	3.69%	Reduced
155	Bahl & Gaynor Cincinnati, Ohio	$544M	+$32.8M	8	4.99%	Increased
156	Royce & Associates New York	$537M	-$37.3M	33	4.54%	Reduced
157	Axa Paris, France	$535M	-$21.6M	23	2.09%	Reduced
158	SEI Investments Oaks, Pennsylvania	$533M	+$21.8M	50	1.79%	Increased
159	Carillon Tower Advisers St. Petersburg, Florida	$532M	+$66.1M	15	3.76%	Increased
160	WPL WINDACRE PARTNERSHIP LLC Houston, Texas	$531M	-$188M	1	29.54%	Reduced
161	Robeco Institutional Asset Management Rotterdam, Netherlands	$530M	+$36M	23	1.95%	Increased
162	London Company of Virginia Richmond, Virginia	$529M	-$61.5M	4	4.53%	Reduced
163	Kayne Anderson Rudnick Investment Management Los Angeles, California	$516M	-$13.2M	4	2.95%	Reduced
164	AGF Investments Inc Toronto, Ontario, Canada	$516M	-$31.2M	7	5.79%	Reduced
165	Alkeon Capital Management New York	$496M	+$38.5M	5	2.47%	Increased
166	Treasurer of the State of North Carolina Raleigh, North Carolina	$491M	-$48.9K	25	3.15%	Reduced
167	Homestead Advisers Arlington, Virginia	$491M	-$5.61M	7	9.18%	Reduced
168	APG Asset Management Amsterdam, Netherlands	$487M	+$39.5M	11	0.89%	Increased
169	First Pacific Advisors El Segundo, California	$470M	+$1.71M	7	4.12%	Increased
170	BNP Paribas Financial Markets Paris, France	$468M	-$41.9M	55	1.01%	Reduced
171	AIG American International Group New York	$464M	+$7.91M	51	1.76%	Increased
172	Los Angeles Capital Management Los Angeles, California	$457M	-$20.4M	31	2.54%	Reduced
173	Federated Hermes Pittsburgh, Pennsylvania	$457M	+$21.7M	41	1.13%	Increased
174	Two Sigma Investments New York	$456M	-$407M	30	1.48%	Reduced
175	JP Morgan Private Wealth Advisors San Francisco, California	$452M	+$5.46M	22	2.36%	Increased