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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	Franklin Resources San Mateo, California	$5.97B	+$177M	27	3.17%	Increased
27	Ameriprise Minneapolis, Minnesota	$5.92B	-$230M	55	2.65%	Reduced
28	Charles Schwab San Francisco, California	$4.97B	+$115M	58	3.02%	Increased
29	Legal & General Group London, United Kingdom	$4.9B	+$31.1M	58	2.64%	Increased
30	Deutsche Bank Frankfurt Am Main Ge, Germany	$4.58B	+$161M	72	2.69%	Increased
31	Norges Bank Oslo, Norway	$4.13B	+$154M	37	1.28%	Increased
32	Royal Bank of Canada Toronto, Ontario, Canada	$3.7B	+$113M	66	1.49%	Increased
33	AllianceBernstein Nashville, Tennessee	$3.52B	-$100M	54	2.19%	Reduced
34	Principal Financial Group Des Moines, Iowa	$3.42B	-$162M	44	3.07%	Reduced
35	Sumitomo Mitsui Trust Group Minato-Ku, Tokyo, Japan	$3.29B	-$113M	22	2.94%	Reduced
36	Barrow, Hanley, Mewhinney & Strauss Dallas, Texas	$3B	-$129M	8	5.46%	Reduced
37	Parametric Portfolio Associates Seattle, Washington	$2.96B	+$12.1M	54	2.44%	Increased
38	Jennison Associates New York	$2.8B	-$337M	13	2.78%	Reduced
39	UBS AM Chicago, Illinois	$2.7B	-$269M	49	1.92%	Reduced
40	AQR Capital Management Greenwich, Connecticut	$2.63B	+$90.5M	42	2.93%	Increased
41	Boston Partners Boston, Massachusetts	$2.61B	-$113M	19	3.42%	Reduced
42	ClearBridge Investments New York	$2.52B	+$6.4M	18	2.19%	Increased
43	New York State Common Retirement Fund Albany, New York	$2.51B	+$2.84M	56	3.14%	Increased
44	Swiss National Bank Zurich, Switzerland	$2.4B	-$58.7M	46	2.59%	Reduced
45	California Public Employees Retirement System Sacramento, California	$2.38B	-$17.3M	64	2.81%	Reduced
46	Prudential Financial Newark, New Jersey	$2.2B	+$166M	47	3.4%	Increased
47	Dodge & Cox San Francisco, California	$2.13B	+$126M	6	1.72%	Increased
48	Neuberger Berman Group New York	$2.02B	+$12.4M	26	2.42%	Increased
49	Viking Global Investors Stamford, Connecticut	$1.89B	+$967M	2	8.48%	Increased
50	Citadel Advisors Miami, Florida	$1.89B	-$43.4M	53	0.86%	Reduced