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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	First Manhattan New York	$365M	-$12.4M	25	2.07%	Reduced
202	FP FPR Partners San Francisco, California	$355M	-$15.6M	1	8.23%	Reduced
203	MSL Mackay Shields LLC New York	$354M	+$356M	20	2.21%	Increased
204	M&T Bank Buffalo, New York	$352M	-$10.6M	27	1.89%	Reduced
205	Nomura Asset Management Tokyo, Japan	$347M	+$46.4M	15	3.79%	Increased
206	Nisa Investment Advisors St. Louis, Missouri	$344M	-$4.98M	36	3.6%	Reduced
207	Mairs & Power Inc St Paul, Minnesota	$344M	-$54.2M	6	4.25%	Reduced
208	Commerzbank Aktiengesellschaft Frankfurt, Germany	$344M	+$87.1M	14	3.54%	Increased
209	Holocene Advisors New York	$341M	+$185M	14	7.72%	Increased
210	BCIM Black Creek Investment Management Toronto, Ontario, Canada	$341M	+$51M	2	11.17%	Increased
211	Jupiter Investment Management London, United Kingdom	$341M	+$5.54M	6	2.72%	Increased
212	State of Michigan Retirement System Lansing, Michigan	$341M	-$2.71M	23	2.75%	Reduced
213	ProShare Advisors Bethesda, Maryland	$336M	+$25.9M	35	2.19%	Increased
214	Bessemer Group Woodbridge, New Jersey	$335M	+$23.5M	25	1.3%	Increased
215	Bank of Nova Scotia Toronto, Ontario, Canada	$331M	-$121M	19	1.71%	Reduced
216	Commonwealth Equity Services Waltham, Massachusetts	$330M	+$2.82M	26	1.79%	Increased
217	Luther King Capital Management (LKCM) Fort Worth, Texas	$326M	-$18.4M	16	2.73%	Reduced
218	Santa Barbara Asset Management Los Angeles, California	$324M	+$1.85M	2	4.98%	Increased
219	CIBC World Market Toronto, Ontario, Canada	$322M	+$175M	15	1.33%	Increased
220	Baird Financial Group Milwaukee, Wisconsin	$321M	+$20.3M	21	2.26%	Increased
221	Los Angeles Capital Management Los Angeles, California	$318M	-$152M	30	1.8%	Reduced
222	Arizona State Retirement System Phoenix, Arizona	$317M	-$14.1M	40	3.2%	Reduced
223	Factory Mutual Insurance Waltham, Massachusetts	$316M	-$52.3M	6	3.46%	Reduced
224	Gotham Asset Management New York	$314M	+$87.8M	22	4.4%	Increased
225	DekaBank Deutsche Girozentrale Frankfurt, Germany	$314M	+$47M	17	2.15%	Increased