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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	VFA Virtus Fund Advisers Hartford, Connecticut	$382M	+$32.1M	20	3.33%	Increased
177	Pzena Investment Management New York	$382M	-$3.8M	2	2.43%	Reduced
178	Viking Global Investors Stamford, Connecticut	$382M	+$310M	2	1.46%	Increased
179	Nuveen Charlotte, North Carolina	$381M	+$12.8M	25	2.16%	Increased
180	Letko, Brosseau & Associates Montreal, Quebec, Canada	$379M	+$904K	4	3.86%	Increased
181	Public Employees Retirement Association of Colorado Denver, Colorado	$378M	-$4.87M	41	3.34%	Reduced
182	Brown Advisory Baltimore, Maryland	$375M	+$53M	17	1.34%	Increased
183	Baillie Gifford & Co Edinburgh, United Kingdom	$373M	+$45.6M	3	0.73%	Increased
184	HCM Herndon Capital Management Atlanta, Georgia	$370M	+$27.4M	6	7.23%	Increased
185	CIBC Private Wealth Group Atlanta, Georgia	$370M	+$7.26M	7	3.05%	Increased
186	Robeco Institutional Asset Management Rotterdam, Netherlands	$370M	+$22.4M	14	2.82%	Increased
187	Gotham Asset Management New York	$369M	-$237M	23	3.6%	Reduced
188	William Blair Investment Management Chicago, Illinois	$369M	+$395M	5	0.75%	New
189	Select Equity Group New York	$366M	-$83.7M	4	3.49%	Reduced
190	Balyasny Asset Management Chicago, Illinois	$364M	+$247M	18	2.69%	Increased
191	Cornerstone Investment Partners Atlanta, Georgia	$361M	+$7.46M	5	10.27%	Increased
192	Winton Group London, United Kingdom	$361M	+$138M	11	2.85%	Increased
193	Korea Investment Corp Seoul, South Korea	$360M	+$41.6M	9	2.86%	Increased
194	Sculptor Capital New York	$356M	+$13.9M	1	1.24%	Increased
195	BCPEM Bain Capital Public Equity Management Boston, Massachusetts	$356M	+$3.18M	2	10.61%	Increased
196	CI Investments Inc Toronto, Ontario, Canada	$346M	+$7.61M	6	4.49%	Increased
197	Mairs & Power Inc St Paul, Minnesota	$342M	-$3.25M	5	5.34%	Reduced
198	Victory Capital Management San Antonio, Texas	$341M	+$76.1M	28	1.41%	Increased
199	FP FPR Partners San Francisco, California	$339M	+$34.3M	1	8.48%	Increased
200	Two Sigma Investments New York	$338M	+$74.8M	29	1.73%	Increased