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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	Pzena Investment Management New York	$350M	+$185M	4	1.76%	Increased
202	Loomis, Sayles & Company Boston, Massachusetts	$346M	-$45.6M	20	0.7%	Reduced
203	Commerzbank Aktiengesellschaft Frankfurt, Germany	$346M	+$1.97M	13	3.27%	Increased
204	CIBC World Markets New York	$345M	+$136M	16	2.98%	Increased
205	Baird Financial Group Milwaukee, Wisconsin	$345M	+$41.1M	23	2.34%	Increased
206	Martingale Asset Management Boston, Massachusetts	$344M	-$16.3M	23	4.23%	Reduced
207	M&T Bank Buffalo, New York	$343M	+$3.34M	29	1.85%	Increased
208	Jupiter Investment Management London, United Kingdom	$343M	-$507K	8	2.44%	Reduced
209	OMC Oak Management Corp Wilton, Connecticut	$332M	+$186M	2	71.25%	Increased
210	Frontier Capital Management Boston, Massachusetts	$332M	+$121M	6	2.35%	Increased
211	Teacher Retirement System of Texas Austin, Texas	$331M	-$53.1M	42	2.1%	Reduced
212	Commonwealth Equity Services Waltham, Massachusetts	$328M	+$7.25M	28	1.72%	Increased
213	SCM Suvretta Capital Management New York	$328M	-$239M	2	8.68%	Reduced
214	DekaBank Deutsche Girozentrale Frankfurt, Germany	$326M	+$18.9M	23	2.12%	Increased
215	Fort Washington Investment Advisors Cincinnati, Ohio	$323M	+$5.8M	11	3.27%	Increased
216	Luther King Capital Management (LKCM) Fort Worth, Texas	$320M	-$741K	17	2.62%	Reduced
217	TCW Group Los Angeles, California	$320M	+$21.4M	4	2.59%	Increased
218	Treasurer of the State of North Carolina Raleigh, North Carolina	$319M	+$200M	25	3.29%	Increased
219	Mairs & Power Inc St Paul, Minnesota	$318M	-$24.8M	7	3.95%	Reduced
220	Royal London Asset Management United Kingdom	$318M	+$330M	13	3.2%	New
221	Farallon Capital Management San Francisco, California	$316M	+$348M	1	1.95%	New
222	Factory Mutual Insurance Waltham, Massachusetts	$315M	+$3.69M	6	3.38%	Increased
223	MSL Mackay Shields LLC New York	$312M	-$28.6M	17	2.16%	Reduced
224	Nisa Investment Advisors St. Louis, Missouri	$312M	-$12.8M	36	3.21%	Reduced
225	WPL WINDACRE PARTNERSHIP LLC Houston, Texas	$304M	+$20.7M	1	30.48%	Increased