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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	Royce & Associates New York	$470M	-$25.2M	34	4.35%	Reduced
177	Natixis Paris, France	$469M	+$159M	20	3.02%	Increased
178	Calamos Advisors Naperville, Illinois	$468M	+$21.8M	17	2.55%	Increased
179	Alyeska Investment Group Chicago, Illinois	$461M	-$21.1M	8	6.67%	Reduced
180	WPL WINDACRE PARTNERSHIP LLC Houston, Texas	$454M	-$188M	1	22.71%	Reduced
181	AIG American International Group New York	$453M	-$46.2M	55	1.83%	Reduced
182	Select Equity Group New York	$451M	-$72.6M	4	3.05%	Reduced
183	Artemis Investment Management Edinburgh, United Kingdom	$433M	-$44M	5	5.91%	Reduced
184	DekaBank Deutsche Girozentrale Frankfurt, Germany	$430M	-$106M	24	2.67%	Reduced
185	Ceredex Value Advisors Orlando, Florida	$430M	+$128M	5	5.09%	Increased
186	RA Rovida Advisors Fort Lauderdale, Florida	$429M	+$37.8M	5	25.36%	Increased
187	Aviva London, United Kingdom	$423M	+$25.2M	19	2.86%	Increased
188	AL AJO LP Philadelphia, Pennsylvania	$418M	+$79.4M	13	2.43%	Increased
189	Axa Paris, France	$412M	-$50.3M	28	1.64%	Reduced
190	Pictet Asset Management (UK) London, United Kingdom	$410M	+$60.3M	18	0.86%	Increased
191	Ninety One (UK) London, United Kingdom	$409M	-$19.9M	3	1.59%	Reduced
192	First Pacific Advisors El Segundo, California	$401M	-$43.5M	8	3.78%	Reduced
193	CI Investments Inc Toronto, Ontario, Canada	$399M	+$99.2M	16	2.06%	Increased
194	Egerton Capital (UK) London, United Kingdom	$398M	+$187M	1	2.85%	Increased
195	First Manhattan New York	$397M	-$8.13M	25	2.19%	Reduced
196	ProShare Advisors Bethesda, Maryland	$394M	+$23.1M	34	2.21%	Increased
197	SCA Southpoint Capital Advisors New York	$392M	+$138M	3	14.81%	Increased
198	Snyder Capital Management San Francisco, California	$391M	-$11.9M	9	17.15%	Reduced
199	Luther King Capital Management (LKCM) Fort Worth, Texas	$391M	+$20.5M	14	2.84%	Increased
200	Raymond James Financial Services Advisors St. Petersburg, Florida	$391M	+$22.2M	30	1.42%	Increased