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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
51	Charles Schwab San Francisco, California	$2.03B	-$16.7M	49	3.42%	Reduced
52	Fisher Asset Management Camas, Washington	$2.02B	+$132M	14	4.24%	Increased
53	Neuberger Berman Group New York	$2B	-$125M	27	1.95%	Reduced
54	Royal Bank of Canada Toronto, Ontario, Canada	$1.99B	+$28.4M	54	1.35%	Increased
55	Russell Frank Company Seattle, Washington	$1.85B	-$130M	49	3.22%	Reduced
56	HSBC Holdings London, United Kingdom	$1.83B	-$54.4M	22	3.96%	Reduced
57	Boston Partners Boston, Massachusetts	$1.81B	+$222M	14	3.02%	Increased
58	Dodge & Cox San Francisco, California	$1.75B	-$526M	4	1.67%	Reduced
59	Sumitomo Mitsui Trust Group Minato-Ku, Tokyo, Japan	$1.73B	-$98.5M	15	3.55%	Reduced
60	BlackRock New York	$1.71B	-$31.7M	50	2.54%	Reduced
61	Adage Capital Partners Boston, Massachusetts	$1.68B	+$488M	14	4.35%	Increased
62	Primecap Management Pasadena, California	$1.62B	-$9.32M	7	1.77%	Reduced
63	New York State Teachers Retirement System (NYSTRS) Albany, New York	$1.45B	-$53.9M	39	3.78%	Reduced
64	APG Asset Management Amsterdam, Netherlands	$1.45B	+$276M	18	3.09%	Increased
65	VOYA Investment Management Atlanta, Georgia	$1.44B	+$81.4M	47	3.3%	Increased
66	Principal Financial Group Des Moines, Iowa	$1.43B	+$174M	45	2.4%	Increased
67	California State Teachers Retirement System (CalSTRS) West Sacramento, California	$1.41B	-$6.27M	49	3.55%	Reduced
68	Aberdeen Asset Management Aberdeen, United Kingdom	$1.4B	+$367M	15	2.91%	Increased
69	Mitsubishi UFJ Trust & Banking Tokyo, Japan	$1.38B	+$3M	15	3.19%	Increased
70	Eaton Vance Management Boston, Massachusetts	$1.38B	-$85.8M	15	4.08%	Reduced
71	LSV Asset Management Chicago, Illinois	$1.38B	-$48.2M	26	3.06%	Reduced
72	D.E. Shaw & Co New York	$1.37B	-$158M	38	1.87%	Reduced
73	Carlyle Group Washington, District of Columbia	$1.34B	-$217M	1	10.48%	Reduced
74	Schroder Investment Management Group London, United Kingdom	$1.32B	+$46.8M	19	1.64%	Increased
75	Capital International Investors Los Angeles, California	$1.31B	+$48.4M	6	3.4%	Increased