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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	Dimensional Fund Advisors Austin, Texas	$4.26B	-$206M	64	2.66%	Reduced
27	Barrow, Hanley, Mewhinney & Strauss Dallas, Texas	$4.14B	-$156M	17	6.16%	Reduced
28	Norges Bank Oslo, Norway	$4.02B	-$221M	38	2%	Reduced
29	Deutsche Bank Frankfurt Am Main Ge, Germany	$3.98B	+$686M	62	2.75%	Increased
30	Janus Henderson Investors US Denver, Colorado	$3.72B	+$498M	24	3.17%	Increased
31	Boston Partners Boston, Massachusetts	$3.62B	+$113M	23	5.19%	Increased
32	AllianceBernstein Nashville, Tennessee	$3.49B	-$293M	44	2.97%	Reduced
33	Capital International Investors Los Angeles, California	$3.29B	+$453M	9	5.08%	Increased
34	Legal & General Group London, United Kingdom	$3.23B	-$8.86M	51	3.65%	Reduced
35	UBS Group Zurich, Switzerland	$3.21B	+$322M	71	2.08%	Increased
36	Royal Bank of Canada Toronto, Ontario, Canada	$3.09B	+$516M	61	2.03%	Increased
37	BlackRock Advisors Wilmington, Delaware	$3.03B	-$280M	61	3.21%	Reduced
38	PNC Financial Services Group Pittsburgh, Pennsylvania	$2.77B	-$25.8M	54	3.27%	Reduced
39	Charles Schwab San Francisco, California	$2.63B	+$18.7M	52	3.54%	Increased
40	BlackRock Investment Management Wilmington, Delaware	$2.49B	-$137M	62	3.19%	Reduced
41	UBS AM Chicago, Illinois	$2.45B	-$199M	46	2.79%	Reduced
42	GE General Electric Evendale, Ohio	$2.42B	-$635M	6	11.71%	Reduced
43	Trian Fund Management New York	$2.42B	-$379M	1	19.65%	Reduced
44	OppenheimerFunds New York	$2.4B	-$1.65B	39	3.04%	Reduced
45	ClearBridge Investments New York	$2.32B	-$149M	16	2.68%	Reduced
46	New York State Common Retirement Fund Albany, New York	$2.29B	-$85M	53	3.52%	Reduced
47	California Public Employees Retirement System Sacramento, California	$2.29B	-$85.3M	62	3.61%	Reduced
48	American Century Companies Kansas City, Missouri	$2.13B	+$42.9M	27	2.49%	Increased
49	Fisher Asset Management Camas, Washington	$2.09B	+$22.7M	14	4.03%	Increased
50	Sumitomo Mitsui Trust Group Minato-Ku, Tokyo, Japan	$2.09B	-$37.8M	14	3.73%	Reduced