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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	Legal & General Group London, United Kingdom	$5.83B	+$284M	62	1.89%	Increased
27	Norges Bank Oslo, Norway	$5.67B	+$10.4M	45	1.25%	Increased
28	Royal Bank of Canada Toronto, Ontario, Canada	$5.04B	-$249M	86	1.33%	Reduced
29	Goldman Sachs New York	$4.8B	+$140M	73	1.02%	Increased
30	Janus Henderson Group London,	$4.52B	-$198M	42	1.97%	Reduced
31	UBS Group Zurich, Switzerland	$4.37B	-$233M	89	1.38%	Reduced
32	Principal Financial Group Des Moines, Iowa	$4.18B	-$34.2M	51	2.73%	Reduced
33	ClearBridge Investments New York	$3.98B	+$58.2M	17	2.84%	Increased
34	Sumitomo Mitsui Trust Group Minato-Ku, Tokyo, Japan	$3.94B	+$226M	25	2.45%	Increased
35	AllianceBernstein Nashville, Tennessee	$3.84B	+$132M	56	1.51%	Increased
36	Boston Partners Boston, Massachusetts	$3.58B	-$176M	21	4.54%	Reduced
37	Parametric Portfolio Associates Seattle, Washington	$3.39B	+$315M	65	1.93%	Increased
38	Aristotle Capital Management Los Angeles, California	$3.37B	+$187M	4	6.37%	Increased
39	Dodge & Cox San Francisco, California	$3.32B	-$66.3M	5	2.16%	Reduced
40	Swiss National Bank Zurich, Switzerland	$3.15B	-$177M	55	2%	Reduced
41	UBS AM Chicago, Illinois	$3.14B	+$3.64M	56	1.3%	Increased
42	Deutsche Bank Frankfurt Am Main Ge, Germany	$3.14B	-$122M	69	1.49%	Reduced
43	Macquarie Group Sydney, NSW 2000, Australia	$3.05B	+$60.5M	52	2.6%	Increased
44	Loomis, Sayles & Company Boston, Massachusetts	$3.05B	-$75.3M	26	3.75%	Reduced
45	Victory Capital Management San Antonio, Texas	$2.88B	+$111M	60	2.82%	Increased
46	California Public Employees Retirement System Sacramento, California	$2.86B	+$64M	31	2.14%	Increased
47	Bank of Montreal Toronto, Ontario, Canada	$2.8B	+$540M	55	1.28%	Increased
48	Viking Global Investors Stamford, Connecticut	$2.61B	+$1.29B	2	7.16%	Increased
49	American Century Companies Kansas City, Missouri	$2.45B	+$138M	42	1.68%	Increased
50	New York State Common Retirement Fund Albany, New York	$2.31B	-$10.2M	62	2.47%	Reduced