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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	State Farm Mutual Automobile Insurance Bloomington, Illinois	$752M	$0	1	0.65%	Maintained
152	STRS Ohio Columbus, Ohio	$750M	+$11.4M	48	2.88%	Increased
153	Westwood Holdings Group Dallas, Texas	$746M	-$4.86M	15	3.14%	Reduced
154	Yacktman Asset Management Austin, Texas	$733M	-$20.7M	5	7.52%	Reduced
155	Federated Hermes Pittsburgh, Pennsylvania	$725M	+$55.8M	44	1.59%	Increased
156	Jane Street New York	$705M	-$1.26B	72	0.16%	Reduced
157	Chevy Chase Trust Bethesda, Maryland	$702M	+$28.5M	18	2.15%	Increased
158	Retirement Systems of Alabama Montgomery, Alabama	$695M	-$36.7M	31	2.6%	Reduced
159	ARK Investment Management St. Petersburg, Florida	$693M	-$104M	16	6.34%	Reduced
160	GAMCO Investors Greenwich, Connecticut	$684M	-$15.9M	28	7%	Reduced
161	Aviva London, United Kingdom	$680M	+$38.2M	19	1.76%	Increased
162	Man Group London, United Kingdom	$641M	+$12M	36	1.67%	Increased
163	Select Equity Group New York	$640M	-$116M	7	2.3%	Reduced
164	Mariner Overland Park, Kansas	$635M	+$30.6M	48	1.13%	Increased
165	Bank Julius Baer & Co Zurich, Switzerland	$624M	+$7.61M	10	2.1%	Increased
166	Fred Alger Management New York	$624M	-$95.2M	11	3.02%	Reduced
167	Toronto Dominion Bank Toronto, Ontario, Ontario, Canada	$621M	-$18.6M	23	1.1%	Reduced
168	Treasurer of the State of North Carolina Raleigh, North Carolina	$617M	+$1.57M	33	2.47%	Increased
169	Wealth Enhancement Advisory Services Plymouth, Minnesota	$615M	+$9.77M	40	1.32%	Increased
170	DekaBank Deutsche Girozentrale Frankfurt, Germany	$611M	+$4.7M	21	1.13%	Increased
171	Voloridge Investment Management Jupiter, Florida	$605M	-$21.7M	17	2.2%	Reduced
172	Los Angeles Capital Management Los Angeles, California	$597M	+$113M	27	2.41%	Increased
173	Kestra Advisory Services Austin, Texas	$591M	-$14M	35	3.25%	Reduced
174	Ohio Public Employees Retirement System (OPERS) Columbus, Ohio	$590M	-$60.5M	49	2.53%	Reduced
175	Arrowstreet Capital Boston, Massachusetts	$589M	-$112M	38	0.5%	Reduced