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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	Nuveen Charlotte, North Carolina	$7.52B	-$224M	61	2.23%	Reduced
27	Franklin Resources San Mateo, California	$7.49B	+$1.58B	46	2.37%	Increased
28	Dodge & Cox San Francisco, California	$7.16B	+$90.5M	5	4.15%	Increased
29	Goldman Sachs New York	$6.99B	+$379M	76	1.24%	Increased
30	Principal Financial Group Des Moines, Iowa	$6.69B	-$65.9M	52	3.93%	Reduced
31	Royal Bank of Canada Toronto, Ontario, Canada	$6.58B	-$225M	91	1.51%	Reduced
32	Legal & General Group London, United Kingdom	$6.15B	-$142M	62	1.77%	Reduced
33	UBS Group Zurich, Switzerland	$5.41B	+$452M	98	1.35%	Increased
34	Aristotle Capital Management Los Angeles, California	$5.37B	-$106M	5	9.97%	Reduced
35	T. Rowe Price Investment Management Baltimore, Maryland	$5.32B	+$102M	17	3.26%	Increased
36	Barclays London, United Kingdom	$4.27B	-$369M	70	1.48%	Reduced
37	UBS AM Chicago, Illinois	$3.99B	-$138M	51	1.42%	Reduced
38	Boston Partners Boston, Massachusetts	$3.86B	-$597M	22	4.6%	Reduced
39	California Public Employees Retirement System Sacramento, California	$3.67B	+$75M	31	2.58%	Increased
40	Sumitomo Mitsui Trust Group Minato-Ku, Tokyo, Japan	$3.46B	-$25.6M	30	2.38%	Reduced
41	AllianceBernstein Nashville, Tennessee	$3.43B	-$326M	59	1.22%	Reduced
42	Swiss National Bank Zurich, Switzerland	$3.42B	-$133M	52	2.4%	Reduced
43	Loomis, Sayles & Company Boston, Massachusetts	$3.42B	+$545M	25	4.86%	Increased
44	Sanders Capital West Palm Beach, Florida	$3.35B	+$45M	3	5.6%	Increased
45	Janus Henderson Group London,	$2.82B	+$37.3M	51	1.54%	Increased
46	ClearBridge Investments New York	$2.76B	+$59.7M	17	2.19%	Increased
47	Millennium Management New York	$2.72B	+$92.8M	75	1.16%	Increased
48	Deutsche Bank Frankfurt Am Main Ge, Germany	$2.72B	-$276M	59	1.26%	Reduced
49	Envestnet Asset Management Chicago, Illinois	$2.65B	+$97.4M	55	0.99%	Increased
50	Victory Capital Management San Antonio, Texas	$2.64B	-$347M	52	2.58%	Reduced