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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	$54B	+$447M	57	5.38%	Increased
2	Vanguard Group Malvern, Pennsylvania	$44B	+$1.22B	66	3.17%	Increased
3	Capital World Investors Los Angeles, California	$25.9B	-$536M	11	7.02%	Reduced
4	BlackRock Institutional Trust San Francisco, California	$20.7B	+$52.9M	60	3.31%	Increased
5	T. Rowe Price Associates Baltimore, Maryland	$15.7B	-$1.77B	44	3.34%	Reduced
6	Fidelity Investments Boston, Massachusetts	$13.4B	-$353M	42	1.75%	Reduced
7	BlackRock Fund Advisors San Francisco, California	$12.4B	+$876M	58	3.06%	Increased
8	Evercore Trust Company New York	$12.3B	-$270M	4	43.89%	Reduced
9	Bank of New York Mellon New York	$11.6B	-$146M	63	3.04%	Reduced
10	Wellington Management Group Boston, Massachusetts	$11.2B	-$267M	33	2.95%	Reduced
11	Northern Trust Chicago, Illinois	$10.7B	-$65.8M	64	3.23%	Reduced
12	Massachusetts Financial Services Boston, Massachusetts	$10.6B	-$431M	18	5.39%	Reduced
13	JP Morgan Chase New York	$9.37B	+$303M	41	2.14%	Increased
14	Capital Research Global Investors Los Angeles, California	$9.35B	-$1.19B	10	3.18%	Reduced
15	Franklin Resources San Mateo, California	$6.84B	+$402M	23	3.1%	Increased
16	Bank of America Charlotte, North Carolina	$6.77B	-$1.88B	66	2.42%	Reduced
17	Geode Capital Management Boston, Massachusetts	$5.8B	+$181M	64	3.45%	Increased
18	Wells Fargo San Francisco, California	$5.73B	+$32.9M	67	2.25%	Increased
19	BlackRock Group London, United Kingdom	$5.58B	+$347M	46	2.99%	Increased
20	Morgan Stanley New York	$5.48B	+$347M	75	2%	Increased
21	Ameriprise Minneapolis, Minnesota	$5.4B	+$676M	46	3.14%	Increased
22	Invesco Atlanta, Georgia	$5.35B	-$108M	57	2.07%	Reduced
23	Goldman Sachs New York	$4.61B	-$238M	58	1.46%	Reduced
24	Longview Asset Management (Illinois) Chicago, Illinois	$4.59B	-$6.3M	1	86.99%	Reduced
25	TIAA CREF Investment Management New York	$4.04B	-$214M	50	2.83%	Reduced