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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
1	State Street Boston, Massachusetts	$45.5B	-$562M	56	5.6%	Reduced
2	Vanguard Group Malvern, Pennsylvania	$35.5B	+$623M	64	3.47%	Increased
3	Capital World Investors Los Angeles, California	$25.3B	+$347M	13	7.69%	Increased
4	BlackRock Institutional Trust San Francisco, California	$18.1B	-$232M	60	3.49%	Reduced
5	T. Rowe Price Associates Baltimore, Maryland	$12.9B	-$313M	44	3.21%	Reduced
6	Fidelity Investments Boston, Massachusetts	$12.7B	-$540M	41	1.95%	Reduced
7	Evercore Trust Company New York	$11B	-$446M	4	40.98%	Reduced
8	Bank of New York Mellon New York	$10.6B	-$204M	61	3.16%	Reduced
9	Wellington Management Group Boston, Massachusetts	$10.2B	-$338M	35	3.21%	Reduced
10	Northern Trust Chicago, Illinois	$9.99B	-$305M	61	3.52%	Reduced
11	Massachusetts Financial Services Boston, Massachusetts	$9.66B	-$239M	17	5.98%	Reduced
12	BlackRock Fund Advisors San Francisco, California	$9.2B	+$230M	57	3.11%	Increased
13	JP Morgan Chase New York	$8.84B	+$9.99M	51	2.62%	Increased
14	Capital Research Global Investors Los Angeles, California	$8.02B	+$256M	8	3.17%	Increased
15	Bank of America Charlotte, North Carolina	$6.1B	-$4.05M	64	2.43%	Reduced
16	Invesco Atlanta, Georgia	$5.27B	+$57.1M	57	2.29%	Increased
17	Wells Fargo San Francisco, California	$5.09B	-$36.2M	62	2.42%	Reduced
18	Franklin Resources San Mateo, California	$5.05B	-$70.4M	24	2.69%	Reduced
19	Goldman Sachs New York	$4.81B	-$186M	52	1.78%	Reduced
20	Ameriprise Minneapolis, Minnesota	$4.71B	+$48.3M	56	3.09%	Increased
21	BlackRock Group London, United Kingdom	$4.69B	+$239M	47	3.15%	Increased
22	Geode Capital Management Boston, Massachusetts	$4.65B	+$118M	60	3.73%	Increased
23	TIAA CREF Investment Management New York	$4.34B	-$110M	46	3.39%	Reduced
24	BlackRock Advisors Wilmington, Delaware	$3.95B	-$109M	58	3.97%	Reduced
25	Morgan Stanley New York	$3.78B	-$72.1M	56	1.78%	Reduced