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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	$54.1B	+$1.04B	68	3.36%	Increased
2	State Street Boston, Massachusetts	$50.2B	-$632M	59	5.39%	Reduced
3	Capital World Investors Los Angeles, California	$22B	-$78.3M	12	5.94%	Reduced
4	BlackRock Institutional Trust San Francisco, California	$21.4B	-$490M	60	3.48%	Reduced
5	Fidelity Investments Boston, Massachusetts	$16B	-$149M	41	2.19%	Reduced
6	T. Rowe Price Associates Baltimore, Maryland	$13.3B	+$273M	48	2.82%	Increased
7	BlackRock Fund Advisors San Francisco, California	$13.3B	+$336M	66	2.93%	Increased
8	Bank of America Charlotte, North Carolina	$13.3B	+$120M	69	3.08%	Increased
9	Wellington Management Group Boston, Massachusetts	$12.3B	-$359M	33	3.18%	Reduced
10	Evercore Trust Company New York	$12B	-$197M	5	38.5%	Reduced
11	Capital Research Global Investors Los Angeles, California	$11.9B	-$438M	11	4.07%	Reduced
12	Northern Trust Chicago, Illinois	$10.3B	-$116M	63	3.35%	Reduced
13	Bank of New York Mellon New York	$9.81B	-$303M	63	2.99%	Reduced
14	Massachusetts Financial Services Boston, Massachusetts	$9.22B	-$110M	16	4.65%	Reduced
15	JP Morgan Chase New York	$7.88B	-$876M	53	1.97%	Reduced
16	Wells Fargo San Francisco, California	$7.08B	+$93.4M	70	2.74%	Increased
17	Morgan Stanley New York	$6.77B	+$1.13B	70	2.44%	Increased
18	Geode Capital Management Boston, Massachusetts	$6.67B	-$137M	65	3.63%	Reduced
19	BlackRock Group London, United Kingdom	$6.08B	-$54.2M	50	3.15%	Reduced
20	Franklin Resources San Mateo, California	$5.85B	-$1.53B	24	3.15%	Reduced
21	Ameriprise Minneapolis, Minnesota	$5.49B	-$569K	48	3.22%	Reduced
22	Janus Henderson Investors US Denver, Colorado	$5.11B	+$69.4M	25	4.34%	Increased
23	Invesco Atlanta, Georgia	$4.81B	-$172M	53	1.77%	Reduced
24	Goldman Sachs New York	$4.74B	-$288M	56	1.55%	Reduced
25	Longview Asset Management (Illinois) Chicago, Illinois	$4.64B	$0	1	88.53%	Maintained