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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	Deutsche Bank Frankfurt Am Main Ge, Germany	$4.7B	-$1B	69	2.34%	Reduced
27	UBS Group Zurich, Switzerland	$4.52B	-$1.88M	75	1.96%	Reduced
28	Capital International Investors Los Angeles, California	$4.25B	-$88.1M	9	4.8%	Reduced
29	AllianceBernstein Nashville, Tennessee	$4.11B	+$210M	52	2.86%	Increased
30	Charles Schwab San Francisco, California	$4.06B	+$156M	52	2.96%	Increased
31	AQR Capital Management Greenwich, Connecticut	$3.92B	+$704M	44	3.95%	Increased
32	Norges Bank Oslo, Norway	$3.79B	-$38.1M	36	1.3%	Reduced
33	Jennison Associates New York	$3.58B	-$131M	12	3.49%	Reduced
34	Royal Bank of Canada Toronto, Ontario, Canada	$3.56B	-$111M	63	1.6%	Reduced
35	Legal & General Group London, United Kingdom	$3.52B	-$215M	53	2.72%	Reduced
36	Principal Financial Group Des Moines, Iowa	$3.14B	-$60.4M	46	2.89%	Reduced
37	Barrow, Hanley, Mewhinney & Strauss Dallas, Texas	$3.1B	-$188M	12	4.99%	Reduced
38	Boston Partners Boston, Massachusetts	$3B	+$257M	23	3.6%	Increased
39	Manulife (Manufacturers Life Insurance) Canada, Ontario, Canada	$2.9B	-$15.9M	57	3.16%	Reduced
40	Sumitomo Mitsui Trust Group Minato-Ku, Tokyo, Japan	$2.67B	+$201M	17	3.11%	Increased
41	UBS AM Chicago, Illinois	$2.64B	-$228M	49	2.03%	Reduced
42	New York State Common Retirement Fund Albany, New York	$2.47B	-$49.7M	55	3.08%	Reduced
43	Parametric Portfolio Associates Seattle, Washington	$2.45B	+$83.4M	57	2.33%	Increased
44	American Century Companies Kansas City, Missouri	$2.43B	+$84.4M	30	2.45%	Increased
45	Viking Global Investors Stamford, Connecticut	$2.4B	+$1.42B	3	13.71%	Increased
46	Swiss National Bank Zurich, Switzerland	$2.36B	+$67.8M	45	2.7%	Increased
47	Teachers Advisors New York	$2.35B	+$12.4M	51	2.93%	Increased
48	California Public Employees Retirement System Sacramento, California	$2.29B	+$117M	62	3.17%	Increased
49	Bank of Montreal Toronto, Ontario, Canada	$2.09B	+$5.77M	57	1.73%	Increased
50	PNC Financial Services Group Pittsburgh, Pennsylvania	$2.07B	-$121M	53	2.04%	Reduced