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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	$71.7B	+$800M	72	3.14%	Increased
2	BlackRock New York	$63.4B	-$413M	70	3.03%	Reduced
3	State Street Boston, Massachusetts	$60.6B	-$1.46B	59	5.15%	Reduced
4	T. Rowe Price Associates Baltimore, Maryland	$22.2B	+$1.11B	49	3.52%	Increased
5	Fidelity Investments Boston, Massachusetts	$19B	+$865M	44	2.26%	Increased
6	Newport Trust Company Washington, District of Columbia	$18.4B	-$659M	3	51.88%	Reduced
7	Capital World Investors Los Angeles, California	$17.6B	-$4.69B	9	3.97%	Reduced
8	Capital Research Global Investors Los Angeles, California	$15.4B	+$74.2M	13	4.39%	Increased
9	Bank of America Charlotte, North Carolina	$15.2B	+$740M	66	2.6%	Increased
10	Wellington Management Group Boston, Massachusetts	$11B	-$1.54B	42	2.49%	Reduced
11	Northern Trust Chicago, Illinois	$10.8B	-$268M	68	2.82%	Reduced
12	Bank of New York Mellon New York	$10.1B	-$438M	65	2.81%	Reduced
13	Geode Capital Management Boston, Massachusetts	$9.81B	+$424M	66	3.2%	Increased
14	Massachusetts Financial Services Boston, Massachusetts	$9.57B	-$18.9M	21	4.1%	Reduced
15	JP Morgan Chase New York	$9.25B	+$68.9M	57	1.98%	Increased
16	Wells Fargo San Francisco, California	$8.99B	-$292M	72	2.66%	Reduced
17	Morgan Stanley New York	$8.53B	-$1.26B	75	2.37%	Reduced
18	Goldman Sachs New York	$8.17B	+$312M	58	2.09%	Increased
19	Franklin Resources San Mateo, California	$7.46B	+$396M	25	3.78%	Increased
20	Longview Asset Management (Illinois) Chicago, Illinois	$7.22B	-$140M	1	97.48%	Reduced
21	Janus Henderson Group London,	$6.38B	-$84.3M	28	3.76%	Reduced
22	Ameriprise Minneapolis, Minnesota	$6.35B	+$342M	52	2.87%	Increased
23	Deutsche Bank Frankfurt Am Main Ge, Germany	$5.78B	+$1.75B	67	2.76%	Increased
24	Dimensional Fund Advisors Austin, Texas	$5.5B	-$13.6M	67	2.29%	Reduced
25	Invesco Atlanta, Georgia	$5.06B	-$233M	55	1.89%	Reduced