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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	Vanguard Group Malvern, Pennsylvania	$49.7B	-$151M	69	3.35%	Reduced
2	State Street Boston, Massachusetts	$47.7B	-$888M	57	5.22%	Reduced
3	Capital World Investors Los Angeles, California	$23.4B	-$1.26B	11	6.54%	Reduced
4	BlackRock Institutional Trust San Francisco, California	$21.2B	-$494M	59	3.5%	Reduced
5	Fidelity Investments Boston, Massachusetts	$16.9B	-$785M	41	2.27%	Reduced
6	T. Rowe Price Associates Baltimore, Maryland	$14.3B	-$1.63B	44	3.01%	Reduced
7	Bank of America Charlotte, North Carolina	$12.6B	-$167M	62	2.97%	Reduced
8	BlackRock Fund Advisors San Francisco, California	$12.5B	+$778M	66	2.88%	Increased
9	Evercore Trust Company New York	$12.3B	+$12.7M	5	45.28%	Increased
10	Wellington Management Group Boston, Massachusetts	$11.7B	-$598M	31	3.06%	Reduced
11	Capital Research Global Investors Los Angeles, California	$10.4B	-$63.2M	10	3.55%	Reduced
12	Bank of New York Mellon New York	$10.2B	-$834M	63	3.08%	Reduced
13	Northern Trust Chicago, Illinois	$10.2B	-$825M	62	3.37%	Reduced
14	Massachusetts Financial Services Boston, Massachusetts	$9.08B	-$593M	15	4.85%	Reduced
15	JP Morgan Chase New York	$8.54B	+$119M	50	2.14%	Increased
16	Franklin Resources San Mateo, California	$6.91B	-$1.24B	25	3.5%	Reduced
17	Wells Fargo San Francisco, California	$6.44B	+$121M	69	2.54%	Increased
18	Geode Capital Management Boston, Massachusetts	$6.42B	-$113M	63	3.66%	Reduced
19	BlackRock Group London, United Kingdom	$5.9B	-$45.3M	50	3.25%	Reduced
20	Ameriprise Minneapolis, Minnesota	$5.5B	-$637M	46	3.23%	Reduced
21	Invesco Atlanta, Georgia	$5.31B	-$424M	54	2.12%	Reduced
22	Morgan Stanley New York	$5.24B	-$31.7M	73	1.9%	Reduced
23	Longview Asset Management (Illinois) Chicago, Illinois	$4.58B	$0	1	93.54%	Maintained
24	TIAA CREF Investment Management New York	$4.54B	+$82M	51	3.4%	Increased
25	Goldman Sachs New York	$4.41B	-$345M	53	1.38%	Reduced