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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	$51.1B	+$218M	56	5.52%	Increased
2	Vanguard Group Malvern, Pennsylvania	$40.9B	+$538M	65	3.22%	Increased
3	Capital World Investors Los Angeles, California	$25.1B	-$534M	12	6.92%	Reduced
4	BlackRock Institutional Trust San Francisco, California	$20.3B	-$187M	58	3.36%	Reduced
5	T. Rowe Price Associates Baltimore, Maryland	$17B	+$800M	44	3.67%	Increased
6	Fidelity Investments Boston, Massachusetts	$14.4B	-$332M	45	1.93%	Reduced
7	Evercore Trust Company New York	$12B	-$221M	4	42.86%	Reduced
8	Bank of New York Mellon New York	$11.6B	-$80.1M	62	3.12%	Reduced
9	Wellington Management Group Boston, Massachusetts	$11.5B	-$246M	32	3.08%	Reduced
10	BlackRock Fund Advisors San Francisco, California	$10.9B	+$328M	58	3.06%	Increased
11	Northern Trust Chicago, Illinois	$10.7B	-$179M	63	3.34%	Reduced
12	Capital Research Global Investors Los Angeles, California	$10.2B	+$115M	9	3.56%	Increased
13	Massachusetts Financial Services Boston, Massachusetts	$10.1B	-$14.4M	18	5.26%	Reduced
14	Bank of America Charlotte, North Carolina	$8.72B	+$1.07B	65	2.79%	Increased
15	JP Morgan Chase New York	$8.11B	-$813M	41	2.06%	Reduced
16	Norges Bank Oslo, Norway	$7.52B	+$3.82B	38	2.03%	Increased
17	Wells Fargo San Francisco, California	$5.69B	-$134M	67	2.35%	Reduced
18	Franklin Resources San Mateo, California	$5.58B	+$215M	24	2.46%	Increased
19	Geode Capital Management Boston, Massachusetts	$5.5B	-$46.2M	62	3.56%	Reduced
20	Invesco Atlanta, Georgia	$5.34B	-$84.4M	56	2.1%	Reduced
21	BlackRock Group London, United Kingdom	$5.23B	+$103M	45	3.01%	Increased
22	Goldman Sachs New York	$5.22B	-$259M	51	1.63%	Reduced
23	Morgan Stanley New York	$4.77B	-$29.1M	72	1.87%	Reduced
24	TIAA CREF Investment Management New York	$4.38B	-$138M	50	3.05%	Reduced
25	Ameriprise Minneapolis, Minnesota	$4.32B	-$286M	56	2.55%	Reduced