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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	Treasurer of the State of North Carolina Raleigh, North Carolina	$292M	-$33M	29	2.42%	Reduced
202	VanEck Associates New York	$292M	+$87.8M	12	1.02%	Increased
203	Nordea Investment Management Stockholm, Sweden	$291M	+$101M	11	0.3%	Increased
204	State of Michigan Retirement System Lansing, Michigan	$288M	+$49.2M	26	2.53%	Increased
205	CIBC World Markets New York	$285M	+$162M	15	3.06%	Increased
206	PCM Palestra Capital Management New York	$285M	+$73.7M	2	7.15%	Increased
207	Janney Montgomery Scott Philadelphia, Pennsylvania	$285M	+$40M	32	1.8%	Increased
208	William Blair & Company Chicago, Illinois	$282M	+$44M	27	1.35%	Increased
209	BAMCO Inc New York	$282M	+$38.8M	7	1.02%	Increased
210	Ceredex Value Advisors Orlando, Florida	$278M	+$86M	4	4.13%	Increased
211	Carillon Tower Advisers St. Petersburg, Florida	$278M	-$72.1M	13	2.14%	Reduced
212	M&T Bank Buffalo, New York	$276M	-$28.9M	31	1.48%	Reduced
213	Holocene Advisors New York	$275M	-$175M	18	2.41%	Reduced
214	Bessemer Group Woodbridge, New Jersey	$274M	-$164M	36	0.86%	Reduced
215	SCA Southpoint Capital Advisors New York	$271M	-$154M	3	6.6%	Reduced
216	Teacher Retirement System of Texas Austin, Texas	$269M	+$41.5M	20	2.2%	Increased
217	Squarepoint New York	$267M	+$146M	49	4.31%	Increased
218	Viking Global Investors Stamford, Connecticut	$264M	+$233M	1	1.14%	New
219	Balyasny Asset Management Chicago, Illinois	$263M	+$79.6M	23	2.29%	Increased
220	Comerica Bank Dallas, Texas	$262M	+$27.1M	46	2.02%	Increased
221	Fort Washington Investment Advisors Cincinnati, Ohio	$261M	+$36.8M	15	2.94%	Increased
222	London Company of Virginia Richmond, Virginia	$257M	-$21.5M	3	2%	Reduced
223	Cubist Systematic Strategies Stamford, Connecticut	$257M	+$169M	47	4.44%	Increased
224	Nomura Asset Management Tokyo, Japan	$256M	-$38.8M	18	2.16%	Reduced
225	Commerce Bank Kansas City, Missouri	$253M	-$12.2M	18	2.47%	Reduced