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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	Federated Hermes Pittsburgh, Pennsylvania	$338M	-$97.6M	32	1.09%	Reduced
202	KeyBank National Association Cleveland, Ohio	$337M	-$5.18M	19	2.38%	Reduced
203	Marsico Capital Management Denver, Colorado	$336M	+$42.4M	2	3.5%	Increased
204	Edge Asset Management Seattle, Washington	$334M	-$15.3M	8	3.34%	Reduced
205	Alyeska Investment Group Chicago, Illinois	$331M	+$79.8M	10	3.88%	Increased
206	TimesSquare Capital Management New York	$329M	+$45.3M	5	2.07%	Increased
207	First Trust Advisors Wheaton, Illinois	$329M	-$28.5M	41	0.95%	Reduced
208	RS Investment Management San Francisco, California	$321M	-$27.5M	5	2.87%	Reduced
209	Fifth Third Bancorp Cincinnati, Ohio	$321M	-$4.75M	43	2.98%	Reduced
210	Factory Mutual Insurance Waltham, Massachusetts	$317M	-$3.24M	7	4.33%	Reduced
211	PCM Pennant Capital Management Summit, New Jersey	$316M	-$37M	3	6.68%	Reduced
212	Brandes Investment Partners La Jolla, California	$312M	+$16.9M	1	4.56%	Increased
213	National Pension Service Jeonju-Si, Jeollabuk-Do, South Korea	$311M	+$42.9M	11	3.93%	Increased
214	ACI AMP Capital Investors Sydney, Australia	$308M	+$2.34M	21	2.24%	Increased
215	Comerica Bank Dallas, Texas	$308M	-$323M	43	2.91%	Reduced
216	British Columbia Investment Management Victoria, British Columbia, Canada	$305M	-$5.96M	12	3.11%	Reduced
217	1832 Asset Management Toronto, Ontario, Canada	$302M	-$253M	10	1.26%	Reduced
218	BAMCO Inc New York	$297M	-$8.22M	5	1.34%	Reduced
219	CCMH Cornerstone Capital Management Holdings New York	$293M	-$15.6M	23	2.73%	Reduced
220	Canada Pension Plan Investment Board Toronto Ontario, Ontario, Canada	$292M	-$348M	23	1.2%	Reduced
221	BP Berkshire Partners Boston, Massachusetts	$292M	$0	1	100%	Maintained
222	CI Global Investments Oakland, California	$286M	+$96.7M	9	6.67%	Increased
223	Sarasin & Partners London, United Kingdom	$286M	+$19.3M	4	5.15%	Increased
224	Stockbridge Partners Boston, Massachusetts	$284M	$0	1	16.07%	Maintained
225	BHG Blue Harbour Group Greenwich, Connecticut	$278M	-$129M	1	8.67%	Reduced