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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	$76.7B	+$203M	75	3%	Increased
2	BlackRock New York	$66.7B	+$253M	71	2.88%	Increased
3	State Street Boston, Massachusetts	$62.9B	+$667M	61	4.83%	Increased
4	T. Rowe Price Associates Baltimore, Maryland	$27.5B	+$1.97B	50	4.02%	Increased
5	Fidelity Investments Boston, Massachusetts	$20.6B	-$611M	54	2.32%	Reduced
6	Newport Trust Company Washington, District of Columbia	$19.6B	-$258M	4	54.31%	Reduced
7	Capital World Investors Los Angeles, California	$16.2B	-$557M	11	3.95%	Reduced
8	Wellington Management Group Boston, Massachusetts	$15.5B	+$1.78B	40	3.26%	Increased
9	Bank of America Charlotte, North Carolina	$15.4B	-$984M	71	2.4%	Reduced
10	Capital Research Global Investors Los Angeles, California	$13.3B	-$2.41B	15	3.87%	Reduced
11	Northern Trust Chicago, Illinois	$10.9B	-$278M	70	2.67%	Reduced
12	Geode Capital Management Boston, Massachusetts	$10.7B	+$139M	69	3.01%	Increased
13	Bank of New York Mellon New York	$10.1B	+$35.7M	62	2.59%	Increased
14	JP Morgan Chase New York	$10.1B	+$162M	60	1.93%	Increased
15	Wells Fargo San Francisco, California	$9.47B	-$52.1M	71	2.68%	Reduced
16	Morgan Stanley New York	$8.34B	-$17.9M	78	2.09%	Reduced
17	Ameriprise Minneapolis, Minnesota	$7.69B	+$153M	53	2.69%	Increased
18	Capital International Investors Los Angeles, California	$7.43B	+$2.68B	9	3.4%	Increased
19	Goldman Sachs New York	$6.91B	+$89.7M	57	1.78%	Increased
20	Janus Henderson Group London,	$6.74B	-$240M	27	3.6%	Reduced
21	Longview Asset Management (Illinois) Chicago, Illinois	$6.69B	$0	1	97.72%	Maintained
22	Franklin Resources San Mateo, California	$6.34B	-$657M	23	3.16%	Reduced
23	Dimensional Fund Advisors Austin, Texas	$6.11B	+$56M	65	2.33%	Increased
24	Massachusetts Financial Services Boston, Massachusetts	$5.91B	-$4.08B	19	2.43%	Reduced
25	Invesco Atlanta, Georgia	$5.48B	-$411M	59	1.72%	Reduced