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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	$5.99B	+$118M	62	1.82%	Increased
27	Norges Bank Oslo, Norway	$5.74B	-$48.9M	41	1.25%	Reduced
28	Royal Bank of Canada Toronto, Ontario, Canada	$5.56B	+$161M	79	1.39%	Increased
29	Macquarie Group Sydney, NSW 2000, Australia	$5.16B	-$180M	52	3.93%	Reduced
30	Goldman Sachs New York	$5.02B	+$352M	76	1.05%	Increased
31	Dodge & Cox San Francisco, California	$4.74B	+$972M	5	2.88%	Increased
32	Principal Financial Group Des Moines, Iowa	$4.71B	+$225M	51	2.97%	Increased
33	UBS Group Zurich, Switzerland	$4.2B	-$456M	97	1.4%	Reduced
34	Aristotle Capital Management Los Angeles, California	$4.18B	+$234M	4	7.6%	Increased
35	AllianceBernstein Nashville, Tennessee	$4.16B	+$90.1M	52	1.61%	Increased
36	ClearBridge Investments New York	$3.83B	-$358M	17	2.88%	Reduced
37	Parametric Portfolio Associates Seattle, Washington	$3.81B	+$214M	63	2%	Increased
38	Janus Henderson Group London,	$3.61B	-$151M	49	1.74%	Reduced
39	Boston Partners Boston, Massachusetts	$3.6B	-$211M	19	4.36%	Reduced
40	Bank of Montreal Toronto, Ontario, Canada	$3.47B	-$209M	50	1.68%	Reduced
41	Swiss National Bank Zurich, Switzerland	$3.38B	+$389M	55	1.9%	Increased
42	Victory Capital Management San Antonio, Texas	$3.18B	+$172M	59	3.19%	Increased
43	Sumitomo Mitsui Trust Group Minato-Ku, Tokyo, Japan	$3.17B	-$524M	24	2.11%	Reduced
44	UBS AM Chicago, Illinois	$3.12B	-$34.5M	56	1.34%	Reduced
45	Loomis, Sayles & Company Boston, Massachusetts	$2.88B	-$163M	26	3.84%	Reduced
46	California Public Employees Retirement System Sacramento, California	$2.57B	-$142M	31	1.99%	Reduced
47	Deutsche Bank Frankfurt Am Main Ge, Germany	$2.55B	+$133M	66	1.19%	Increased
48	New York State Common Retirement Fund Albany, New York	$2.43B	+$50.7M	62	2.6%	Increased
49	First Trust Advisors Wheaton, Illinois	$2.32B	-$434M	47	2.37%	Reduced
50	American Century Companies Kansas City, Missouri	$2.28B	-$277M	41	1.56%	Reduced