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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
26	SC US (TTGP) Menlo Park, California	$20.9B	+$20.8B	1	65.64%	New
27	Capricorn Investment Group Palo Alto, California	$20.8B	+$20.5B	2	92.37%	Increased
28	Northern Trust Chicago, Illinois	$20.8B	+$348M	111	2.42%	Increased
29	Newport Trust Company Washington, District of Columbia	$20.6B	-$331M	6	49.64%	Reduced
30	TCI Fund Management London, United Kingdom	$17.7B	-$25.7M	1	33.59%	Reduced
31	DCP Darsana Capital Partners New York	$17.3B	+$17.2B	1	77.85%	New
32	Wellington Management Group Boston, Massachusetts	$15.9B	+$357M	50	2.73%	Increased
33	UBS Group Zurich, Switzerland	$14.8B	+$655M	133	1.89%	Increased
34	Dimensional Fund Advisors Austin, Texas	$14.3B	+$246M	79	2.6%	Increased
35	Franklin Resources San Mateo, California	$14.1B	+$832M	70	3.04%	Increased
36	Bank of New York Mellon New York	$14B	-$488M	97	2.29%	Reduced
37	Vanguard Fiduciary Trust Malvern, Pennsylvania	$13.9B	+$780M	114	3.05%	Increased
38	AH Capital Management Menlo Park, California	$12.8B	+$12.7B	1	89.97%	New
39	Massachusetts Financial Services Boston, Massachusetts	$12.7B	-$964M	37	4.02%	Reduced
40	Nuveen Charlotte, North Carolina	$12.6B	+$132M	90	2.99%	Increased
41	UBS AM Chicago, Illinois	$12.5B	+$748M	75	2.27%	Increased
42	Wells Fargo San Francisco, California	$12.5B	+$225M	108	2.02%	Increased
43	Royal Bank of Canada Toronto, Ontario, Canada	$11.2B	+$257M	118	1.66%	Increased
44	Fisher Asset Management Camas, Washington	$11.2B	+$3.81B	28	3.32%	Increased
45	Ameriprise Minneapolis, Minnesota	$10.9B	+$31.8M	78	2.2%	Increased
46	Legal & General Group London, United Kingdom	$10.5B	-$414M	92	2.18%	Reduced
47	Baillie Gifford & Co Edinburgh, United Kingdom	$10.1B	+$7.9B	8	9.13%	Increased
48	Jennison Associates New York	$9.8B	+$396M	24	5.88%	Increased
49	AQR Capital Management Greenwich, Connecticut	$9.78B	+$1.54B	74	3.41%	Increased
50	Longview Asset Management (Illinois) Chicago, Illinois	$9.59B	$0	1	96.91%	Maintained