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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
176	Burgundy Asset Management Toronto, Ontario, Canada	$398M	+$105M	4	4.77%	Increased
177	Bessemer Group Woodbridge, New Jersey	$386M	+$68.9M	23	2.19%	Increased
178	Fifth Third Bancorp Cincinnati, Ohio	$383M	-$1.51M	30	3.49%	Reduced
179	BP Berkshire Partners Boston, Massachusetts	$380M	$0	1	100%	Maintained
180	ACI AMP Capital Investors Sydney, Australia	$380M	-$9.69M	22	2.4%	Reduced
181	KeyBank National Association Cleveland, Ohio	$380M	-$15.7M	18	2.6%	Reduced
182	Gotham Asset Management New York	$379M	+$58.6M	27	3.77%	Increased
183	Robeco Institutional Asset Management Rotterdam, Netherlands	$377M	-$52.3M	16	2.69%	Reduced
184	Stifel Financial St. Louis, Missouri	$375M	+$23.5M	26	3.3%	Increased
185	SG Americas Securities New York	$372M	+$83.4M	33	2.19%	Increased
186	CI Investments Inc Toronto, Ontario, Canada	$371M	+$96.2M	3	3.87%	Increased
187	BHG Blue Harbour Group Greenwich, Connecticut	$370M	+$273K	2	14.51%	Increased
188	Marsico Capital Management Denver, Colorado	$369M	-$60.4M	1	2.88%	Reduced
189	Federated Hermes Pittsburgh, Pennsylvania	$366M	+$14.8M	39	1.18%	Increased
190	CIBC Private Wealth Group Atlanta, Georgia	$363M	+$1.33M	9	2.86%	Increased
191	Cornerstone Investment Partners Atlanta, Georgia	$362M	+$59M	4	4.02%	Increased
192	Korea Investment Corp Seoul, South Korea	$362M	-$42M	12	2.95%	Reduced
193	Mairs & Power Inc St Paul, Minnesota	$361M	+$238K	5	5.27%	Increased
194	Letko, Brosseau & Associates Montreal, Quebec, Canada	$360M	-$3.41M	2	3.07%	Reduced
195	Public Employees Retirement Association of Colorado Denver, Colorado	$359M	-$3.79M	42	3.08%	Reduced
196	AWM Ashmore Wealth Management Wilmington, Delaware	$358M	-$44.2M	2	7.18%	Reduced
197	ING Group Amsterdam, Netherlands	$353M	-$58.2M	10	2.05%	Reduced
198	British Columbia Investment Management Victoria, British Columbia, Canada	$352M	-$22.8M	12	2.96%	Reduced
199	Sarasin & Partners London, United Kingdom	$352M	+$31.8M	3	4.84%	Increased
200	ARC Absolute Return Capital Boston, Massachusetts	$350M	+$61M	16	4.9%	Increased