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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	$50.8B	-$383M	58	5.47%	Reduced
2	Vanguard Group Malvern, Pennsylvania	$41B	+$750M	66	3.19%	Increased
3	Capital World Investors Los Angeles, California	$25.4B	+$15.4M	12	7.13%	Increased
4	BlackRock Institutional Trust San Francisco, California	$19.9B	-$77.5M	60	3.33%	Reduced
5	T. Rowe Price Associates Baltimore, Maryland	$16.8B	+$468M	43	3.67%	Increased
6	Fidelity Investments Boston, Massachusetts	$13.1B	-$962M	44	1.77%	Reduced
7	Evercore Trust Company New York	$12B	-$192M	4	44.15%	Reduced
8	Bank of New York Mellon New York	$11.3B	-$107M	64	3.06%	Reduced
9	BlackRock Fund Advisors San Francisco, California	$10.9B	+$187M	59	3.09%	Increased
10	Wellington Management Group Boston, Massachusetts	$10.8B	-$671M	32	2.96%	Reduced
11	Northern Trust Chicago, Illinois	$10.4B	-$186M	64	3.25%	Reduced
12	Massachusetts Financial Services Boston, Massachusetts	$10.3B	+$300M	17	5.43%	Increased
13	Capital Research Global Investors Los Angeles, California	$9.96B	-$688M	9	3.45%	Reduced
14	JP Morgan Chase New York	$8.65B	+$912M	40	2.05%	Increased
15	Bank of America Charlotte, North Carolina	$8.28B	-$440M	64	2.68%	Reduced
16	Franklin Resources San Mateo, California	$6.17B	+$569M	23	2.81%	Increased
17	Wells Fargo San Francisco, California	$5.46B	-$120M	68	2.29%	Reduced
18	Geode Capital Management Boston, Massachusetts	$5.41B	-$16.3M	64	3.5%	Reduced
19	Invesco Atlanta, Georgia	$5.2B	-$80.9M	57	2.08%	Reduced
20	BlackRock Group London, United Kingdom	$5.03B	-$110M	46	2.92%	Reduced
21	Morgan Stanley New York	$4.9B	+$165M	75	1.88%	Increased
22	Goldman Sachs New York	$4.69B	-$422M	56	1.49%	Reduced
23	Ameriprise Minneapolis, Minnesota	$4.44B	+$134M	61	2.67%	Increased
24	Longview Asset Management (Illinois) Chicago, Illinois	$4.24B	+$1.22M	1	85.91%	Increased
25	TIAA CREF Investment Management New York	$4.07B	-$273M	50	2.9%	Reduced