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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	AGF Investments Inc Toronto, Ontario, Canada	$480M	+$45.1M	15	3.8%	Increased
177	State Farm Mutual Automobile Insurance Bloomington, Illinois	$478M	$0	1	0.51%	Maintained
178	William Blair & Company Chicago, Illinois	$478M	+$4.28M	28	1.8%	Increased
179	Nordea Investment Management Stockholm, Sweden	$460M	+$35.2M	11	0.67%	Increased
180	Verition Fund Management Greenwich, Connecticut	$458M	-$2.63M	28	5.17%	Reduced
181	Congress Asset Management Boston, Massachusetts	$456M	+$20.7M	12	4.12%	Increased
182	Glenmede Trust Philadelphia, Pennsylvania	$454M	-$50.4M	26	2.45%	Reduced
183	DekaBank Deutsche Girozentrale Frankfurt, Germany	$453M	+$53.1M	25	1.5%	Increased
184	AIG American International Group New York	$451M	-$11.5M	61	1.58%	Reduced
185	Commonwealth Equity Services Waltham, Massachusetts	$451M	+$24.5M	42	1.28%	Increased
186	Gabelli Funds Rye, New York	$451M	-$41.1M	27	3.02%	Reduced
187	Homestead Advisers Arlington, Virginia	$444M	-$11.4M	8	10.61%	Reduced
188	Pictet Asset Management (UK) London, United Kingdom	$435M	+$23.6M	38	0.52%	Increased
189	First Manhattan New York	$428M	-$750K	26	1.84%	Reduced
190	Fifth Third Bancorp Cincinnati, Ohio	$428M	-$11.6M	40	1.99%	Reduced
191	Burgundy Asset Management Toronto, Ontario, Canada	$423M	+$64.2M	6	4.31%	Increased
192	Osaic Holdings Scottsdale, Arizona	$423M	+$31.4M	79	1.02%	Increased
193	Trian Fund Management New York	$423M	+$666	1	5%	Increased
194	SEI Investments Oaks, Pennsylvania	$418M	+$14.9M	52	1.05%	Increased
195	BCIM Black Creek Investment Management Toronto, Ontario, Canada	$418M	+$186M	2	13.85%	Increased
196	Yacktman Asset Management Austin, Texas	$416M	+$387M	3	4.35%	New
197	TOGEPT Trustees of General Electric Pension Trust Norwalk, Connecticut	$407M	$0	1	100%	Maintained
198	GQG Partners Ft. Lauderdale, Florida	$407M	+$6.87M	2	1.49%	Increased
199	Anchor Capital Advisors Boston, Massachusetts	$404M	-$989K	14	8.54%	Reduced
200	Aviva London, United Kingdom	$402M	-$29.1M	19	1.96%	Reduced