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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	$51B	-$1.73B	55	5.79%	Reduced
2	Vanguard Group Malvern, Pennsylvania	$40.1B	-$232M	65	3.38%	Reduced
3	Capital World Investors Los Angeles, California	$25.5B	-$1.92B	12	7.28%	Reduced
4	BlackRock Institutional Trust San Francisco, California	$20.3B	+$290M	60	3.5%	Increased
5	T. Rowe Price Associates Baltimore, Maryland	$16.2B	+$1.75B	44	3.63%	Increased
6	Fidelity Investments Boston, Massachusetts	$14.8B	+$8.53M	43	2.06%	Increased
7	Evercore Trust Company New York	$11.9B	-$113M	4	42.89%	Reduced
8	Wellington Management Group Boston, Massachusetts	$11.7B	+$167M	33	3.24%	Increased
9	Bank of New York Mellon New York	$11.6B	-$52.5M	63	3.16%	Reduced
10	Northern Trust Chicago, Illinois	$10.8B	-$168M	63	3.4%	Reduced
11	BlackRock Fund Advisors San Francisco, California	$10.5B	-$230M	58	3.11%	Reduced
12	Massachusetts Financial Services Boston, Massachusetts	$10.2B	-$605M	18	5.55%	Reduced
13	Capital Research Global Investors Los Angeles, California	$9.8B	+$214M	8	3.54%	Increased
14	JP Morgan Chase New York	$8.94B	-$116M	42	2.47%	Reduced
15	Bank of America Charlotte, North Carolina	$7.6B	+$356M	63	2.82%	Increased
16	Wells Fargo San Francisco, California	$5.79B	+$3.21M	64	2.46%	Increased
17	Geode Capital Management Boston, Massachusetts	$5.51B	+$44.3M	62	3.7%	Increased
18	Goldman Sachs New York	$5.41B	-$383M	52	1.77%	Reduced
19	Invesco Atlanta, Georgia	$5.4B	-$375M	55	2.19%	Reduced
20	Franklin Resources San Mateo, California	$5.38B	-$154M	21	2.54%	Reduced
21	BlackRock Group London, United Kingdom	$5.1B	+$13.9M	47	3.2%	Increased
22	Morgan Stanley New York	$4.83B	+$265M	72	2.02%	Increased
23	Ameriprise Minneapolis, Minnesota	$4.58B	-$501M	56	2.75%	Reduced
24	TIAA CREF Investment Management New York	$4.5B	-$282M	49	3.24%	Reduced
25	BlackRock Advisors Wilmington, Delaware	$4.46B	-$142M	60	4.37%	Reduced