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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	$52.3B	+$849M	56	5.81%	Increased
2	Vanguard Group Malvern, Pennsylvania	$41B	+$490M	64	3.6%	Increased
3	Capital World Investors Los Angeles, California	$27.9B	-$1.17B	13	7.85%	Reduced
4	BlackRock Institutional Trust San Francisco, California	$20.4B	-$182M	62	3.6%	Reduced
5	Fidelity Investments Boston, Massachusetts	$15B	+$648M	43	2.11%	Increased
6	T. Rowe Price Associates Baltimore, Maryland	$14.8B	+$141M	45	3.39%	Increased
7	Evercore Trust Company New York	$12.2B	-$183M	4	43.77%	Reduced
8	Bank of New York Mellon New York	$11.9B	-$248M	63	3.3%	Reduced
9	Wellington Management Group Boston, Massachusetts	$11.5B	-$31M	34	3.3%	Reduced
10	Northern Trust Chicago, Illinois	$11.2B	-$160M	62	3.6%	Reduced
11	BlackRock Fund Advisors San Francisco, California	$10.8B	+$304M	58	3.28%	Increased
12	Massachusetts Financial Services Boston, Massachusetts	$10.4B	-$260M	18	5.82%	Reduced
13	Capital Research Global Investors Los Angeles, California	$9.06B	-$66.9M	8	3.36%	Reduced
14	JP Morgan Chase New York	$9.03B	-$708M	49	2.56%	Reduced
15	Bank of America Charlotte, North Carolina	$7.24B	+$347M	67	2.6%	Increased
16	Goldman Sachs New York	$5.99B	+$414M	55	1.97%	Increased
17	Wells Fargo San Francisco, California	$5.83B	+$50.2M	64	2.53%	Increased
18	Invesco Atlanta, Georgia	$5.77B	-$226M	57	2.29%	Reduced
19	Geode Capital Management Boston, Massachusetts	$5.58B	+$256M	62	3.87%	Increased
20	Franklin Resources San Mateo, California	$5.53B	-$211M	22	2.7%	Reduced
21	BlackRock Group London, United Kingdom	$5.21B	-$133M	45	3.36%	Reduced
22	Ameriprise Minneapolis, Minnesota	$5.12B	-$182M	54	3.1%	Reduced
23	TIAA CREF Investment Management New York	$4.89B	-$60.2M	49	3.51%	Reduced
24	BlackRock Advisors Wilmington, Delaware	$4.67B	+$198M	60	4.49%	Increased
25	Morgan Stanley New York	$4.58B	+$320M	70	1.95%	Increased