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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
201	Fifth Third Bancorp Cincinnati, Ohio	$353M	-$56.5M	42	3.06%	Reduced
202	Edge Asset Management Seattle, Washington	$353M	+$32.5M	8	3.06%	Increased
203	Letko, Brosseau & Associates Montreal, Quebec, Canada	$345M	-$1.93M	4	3.25%	Reduced
204	Factory Mutual Insurance Waltham, Massachusetts	$344M	+$2.91M	7	4.53%	Increased
205	Sarasin & Partners London, United Kingdom	$342M	-$7.71M	4	5.23%	Reduced
206	Comerica Bank Dallas, Texas	$342M	-$354M	43	2.89%	Reduced
207	Commerzbank Aktiengesellschaft Frankfurt, Germany	$340M	-$143M	14	2.04%	Reduced
208	Jensen Investment Management Lake Oswego, Oregon	$338M	+$741K	1	5.17%	Increased
209	City National Bank Beverly Hills, Delaware	$338M	+$23.9M	16	2.85%	Increased
210	CCMH Cornerstone Capital Management Holdings New York	$334M	+$8.9M	24	3.13%	Increased
211	BAMCO Inc New York	$332M	+$2.48M	4	1.28%	Increased
212	Ninety One (UK) London, United Kingdom	$331M	+$91.1M	4	1.94%	Increased
213	MAM Marketfield Asset Management New York	$331M	-$191M	4	9.79%	Reduced
214	BNP Paribas Financial Markets Paris, France	$325M	-$156M	52	0.9%	Reduced
215	Winton Group London, United Kingdom	$325M	-$31.4M	12	2.59%	Reduced
216	Canada Pension Plan Investment Board Toronto Ontario, Ontario, Canada	$325M	-$159M	20	1.2%	Reduced
217	Luther King Capital Management (LKCM) Fort Worth, Texas	$325M	-$35.1M	11	2.72%	Reduced
218	TPSF Texas Permanent School Fund Austin, Texas	$315M	-$6.23M	39	3.48%	Reduced
219	Public Sector Pension Investment Board (PSP Investments) Montreal, Quebec, Canada	$308M	-$4.43M	28	2.28%	Reduced
220	Kornitzer Capital Management Shawnee Mission, Kansas	$308M	-$25.9M	7	3.73%	Reduced
221	Bahl & Gaynor Cincinnati, Ohio	$305M	+$1.38M	7	4.13%	Increased
222	Brandes Investment Partners La Jolla, California	$305M	+$119M	2	4.2%	Increased
223	BP Berkshire Partners Boston, Massachusetts	$301M	$0	1	100%	Maintained
224	DAC Dividend Assets Capital Ridgeland, South Carolina	$297M	+$28.8M	5	6.49%	Increased
225	Maverick Capital Dallas, Texas	$295M	-$17.5M	2	4.75%	Reduced