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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	$4.76B	-$302M	65	2.38%	Reduced
27	Norges Bank Oslo, Norway	$4.73B	+$178M	37	2.07%	Increased
28	Janus Henderson Investors US Denver, Colorado	$4.7B	-$656M	24	3.95%	Reduced
29	AllianceBernstein Nashville, Tennessee	$4.22B	-$285M	49	3.51%	Reduced
30	Capital International Investors Los Angeles, California	$3.7B	-$114M	8	5.34%	Reduced
31	UBS Group Zurich, Switzerland	$3.63B	+$66.3M	72	2.01%	Increased
32	Legal & General Group London, United Kingdom	$3.6B	-$17.3M	54	3.36%	Reduced
33	Barrow, Hanley, Mewhinney & Strauss Dallas, Texas	$3.56B	-$623M	18	5.33%	Reduced
34	Deutsche Bank Frankfurt Am Main Ge, Germany	$3.38B	-$769M	64	2.71%	Reduced
35	Royal Bank of Canada Toronto, Ontario, Canada	$3.29B	+$105M	60	1.78%	Increased
36	Boston Partners Boston, Massachusetts	$3.23B	-$725M	24	4.24%	Reduced
37	Charles Schwab San Francisco, California	$3.07B	-$7.09M	52	3.36%	Reduced
38	BlackRock Investment Management Wilmington, Delaware	$2.68B	-$41.4M	63	3.1%	Reduced
39	PNC Financial Services Group Pittsburgh, Pennsylvania	$2.62B	-$123M	48	2.99%	Reduced
40	AQR Capital Management Greenwich, Connecticut	$2.59B	+$284M	47	3.58%	Increased
41	Jennison Associates New York	$2.58B	+$571M	16	2.88%	Increased
42	UBS AM Chicago, Illinois	$2.57B	-$224M	43	2.88%	Reduced
43	New York State Common Retirement Fund Albany, New York	$2.45B	-$28.3M	53	3.46%	Reduced
44	Principal Financial Group Des Moines, Iowa	$2.38B	+$26.3M	45	3.01%	Increased
45	ClearBridge Investments New York	$2.29B	-$13.8M	18	2.51%	Reduced
46	BlackRock Advisors Wilmington, Delaware	$2.27B	-$636M	61	2.3%	Reduced
47	Sumitomo Mitsui Trust Group Minato-Ku, Tokyo, Japan	$2.26B	-$57M	15	3.69%	Reduced
48	Fisher Asset Management Camas, Washington	$2.19B	+$14.5M	13	3.82%	Increased
49	OppenheimerFunds New York	$2.19B	-$110M	44	2.78%	Reduced
50	California Public Employees Retirement System Sacramento, California	$2.15B	-$121M	61	3.62%	Reduced