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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	Brandes Investment Partners La Jolla, California	$354M	-$8.15M	1	5.31%	Reduced
202	Baird Financial Group Milwaukee, Wisconsin	$353M	+$48.1M	16	3.07%	Increased
203	Wedge Capital Management Charlotte, North Carolina	$346M	-$43.1M	12	3.36%	Reduced
204	Factory Mutual Insurance Waltham, Massachusetts	$341M	+$17.7M	6	4.05%	Increased
205	Berkshire Hathaway Omaha, Nebraska	$335M	$0	1	0.23%	Maintained
206	Calamos Advisors Naperville, Illinois	$334M	-$133M	11	2.65%	Reduced
207	O'Shaughnessy Asset Management Stamford, Connecticut	$328M	-$72.1M	30	7.77%	Reduced
208	Suntrust Banks Atlanta, Georgia	$325M	+$4.71M	29	1.95%	Increased
209	Gotham Asset Management New York	$325M	+$68.5M	24	4.18%	Increased
210	Alyeska Investment Group Chicago, Illinois	$325M	+$64.4M	7	2.69%	Increased
211	Vaughan Nelson Investment Management Houston, Texas	$323M	-$106M	6	3.81%	Reduced
212	Letko, Brosseau & Associates Montreal, Quebec, Canada	$319M	-$27.2M	3	2.92%	Reduced
213	Commerce Bank Kansas City, Missouri	$318M	+$2.64M	17	4.75%	Increased
214	Jarislowsky, Fraser Ltd Montreal, Quebec, Canada	$316M	+$11.8M	5	2.02%	Increased
215	Fiera Capital (Canada) Montreal, Quebec, Canada	$315M	+$26.3M	10	1.77%	Increased
216	Natixis Paris, France	$315M	+$175M	26	3.24%	Increased
217	CI Global Investments Oakland, California	$312M	-$69.4M	5	7.47%	Reduced
218	Federated Hermes Pittsburgh, Pennsylvania	$312M	-$31.1M	38	0.93%	Reduced
219	SG Americas Securities New York	$307M	+$169M	38	2.57%	Increased
220	SCCM Schafer Cullen Capital Management New York	$306M	-$28.5M	7	4.14%	Reduced
221	Bank of Nova Scotia Toronto, Ontario, Canada	$305M	+$80.3M	16	1.56%	Increased
222	Commonwealth Equity Services Waltham, Massachusetts	$305M	+$13.7M	26	2.25%	Increased
223	HCM Huber Capital Management El Segundo, California	$304M	+$10.6M	5	11.69%	Increased
224	Nisa Investment Advisors St. Louis, Missouri	$304M	-$1.63M	37	3.69%	Reduced
225	Luther King Capital Management (LKCM) Fort Worth, Texas	$303M	-$508K	13	2.88%	Reduced