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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	$51.3B	+$1.12B	69	3.33%	Increased
2	State Street Boston, Massachusetts	$48.3B	-$174M	58	5.22%	Reduced
3	BlackRock Institutional Trust San Francisco, California	$21.2B	-$132M	59	3.5%	Reduced
4	Capital World Investors Los Angeles, California	$21B	-$2B	12	5.79%	Reduced
5	Fidelity Investments Boston, Massachusetts	$15.6B	-$1.2B	42	2.16%	Reduced
6	T. Rowe Price Associates Baltimore, Maryland	$12.8B	-$651M	45	2.73%	Reduced
7	Bank of America Charlotte, North Carolina	$12.7B	-$105M	62	3.09%	Reduced
8	BlackRock Fund Advisors San Francisco, California	$12.3B	-$248M	66	2.86%	Reduced
9	Wellington Management Group Boston, Massachusetts	$12.1B	-$6.72M	32	3.18%	Reduced
10	Capital Research Global Investors Los Angeles, California	$11.8B	+$1.55B	11	4.08%	Increased
11	Evercore Trust Company New York	$11.8B	+$155M	5	38.73%	Increased
12	Bank of New York Mellon New York	$10.5B	-$496M	63	3.18%	Reduced
13	Northern Trust Chicago, Illinois	$10.1B	-$123M	63	3.34%	Reduced
14	Massachusetts Financial Services Boston, Massachusetts	$8.87B	-$674M	16	4.61%	Reduced
15	JP Morgan Chase New York	$8.46B	-$398M	48	2.17%	Reduced
16	Franklin Resources San Mateo, California	$7.18B	+$150M	25	3.81%	Increased
17	Wells Fargo San Francisco, California	$6.72B	+$323M	69	2.68%	Increased
18	Geode Capital Management Boston, Massachusetts	$6.61B	+$131M	64	3.51%	Increased
19	BlackRock Group London, United Kingdom	$5.97B	+$10.6M	50	3.22%	Increased
20	Morgan Stanley New York	$5.44B	+$86.9M	73	2.09%	Increased
21	Ameriprise Minneapolis, Minnesota	$5.27B	-$308M	48	3.15%	Reduced
22	Invesco Atlanta, Georgia	$4.88B	-$408M	54	1.98%	Reduced
23	Goldman Sachs New York	$4.86B	+$419M	55	1.6%	Increased
24	Janus Henderson Investors US Denver, Colorado	$4.75B	+$984M	24	4.12%	Increased
25	TIAA CREF Investment Management New York	$4.52B	-$48.1M	51	3.46%	Reduced