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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	UBS Group Zurich, Switzerland	$5.06B	+$415M	72	2.08%	Increased
27	Capital International Investors Los Angeles, California	$4.97B	+$5.11M	9	5.62%	Increased
28	Norges Bank Oslo, Norway	$4.29B	-$164M	34	1.54%	Reduced
29	Charles Schwab San Francisco, California	$4.15B	+$134M	52	3.29%	Increased
30	Deutsche Bank Frankfurt Am Main Ge, Germany	$4.13B	+$880M	72	2.65%	Increased
31	Legal & General Group London, United Kingdom	$4.07B	-$40M	54	2.95%	Reduced
32	AllianceBernstein Nashville, Tennessee	$3.87B	-$438M	52	2.77%	Reduced
33	Royal Bank of Canada Toronto, Ontario, Canada	$3.86B	+$166M	66	1.7%	Increased
34	AQR Capital Management Greenwich, Connecticut	$3.69B	+$72.6M	45	3.87%	Increased
35	Jennison Associates New York	$3.59B	-$2.74M	15	3.54%	Reduced
36	Barrow, Hanley, Mewhinney & Strauss Dallas, Texas	$3.59B	-$176M	14	5.35%	Reduced
37	Principal Financial Group Des Moines, Iowa	$3.06B	-$10.9M	45	2.82%	Reduced
38	UBS AM Chicago, Illinois	$2.97B	-$43.5M	47	2.52%	Reduced
39	Boston Partners Boston, Massachusetts	$2.73B	-$407M	22	3.21%	Reduced
40	Manulife (Manufacturers Life Insurance) Canada, Ontario, Canada	$2.7B	+$853M	57	2.91%	Increased
41	Swiss National Bank Zurich, Switzerland	$2.67B	-$929K	45	2.89%	Reduced
42	New York State Common Retirement Fund Albany, New York	$2.62B	+$1M	53	3.16%	Increased
43	Sumitomo Mitsui Trust Group Minato-Ku, Tokyo, Japan	$2.52B	+$44.5M	16	3.26%	Increased
44	American Century Companies Kansas City, Missouri	$2.52B	-$185M	27	2.51%	Reduced
45	California Public Employees Retirement System Sacramento, California	$2.43B	+$63.3M	62	3.29%	Increased
46	Teachers Advisors New York	$2.43B	-$52.4M	51	3.12%	Reduced
47	Prudential Financial Newark, New Jersey	$2.4B	+$46.9M	47	3.26%	Increased
48	PNC Financial Services Group Pittsburgh, Pennsylvania	$2.39B	-$20.3M	55	2.32%	Reduced
49	Bank of Montreal Toronto, Ontario, Canada	$2.37B	+$246M	55	2.06%	Increased
50	Parametric Portfolio Associates Seattle, Washington	$2.37B	+$57.1M	55	2.36%	Increased