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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	$62.1B	+$1.75B	75	2.79%	Increased
2	BlackRock New York	$52.4B	-$259M	71	2.65%	Reduced
3	State Street Boston, Massachusetts	$48.4B	-$757M	59	4.41%	Reduced
4	T. Rowe Price Associates Baltimore, Maryland	$23.9B	+$2B	53	4.04%	Increased
5	Newport Trust Company Washington, District of Columbia	$16.7B	+$256M	3	54.24%	Increased
6	Fidelity Investments Boston, Massachusetts	$16.1B	+$94.2M	53	2.2%	Increased
7	Capital World Investors Los Angeles, California	$13.6B	+$446M	10	3.69%	Increased
8	Wellington Management Group Boston, Massachusetts	$12.4B	+$364M	43	3.1%	Increased
9	Bank of America Charlotte, North Carolina	$12.1B	-$239M	67	2.12%	Reduced
10	Capital Research Global Investors Los Angeles, California	$10B	-$141M	15	3.5%	Reduced
11	Geode Capital Management Boston, Massachusetts	$9.04B	+$695M	68	2.79%	Increased
12	Northern Trust Chicago, Illinois	$8.66B	+$53.3M	70	2.43%	Increased
13	JP Morgan Chase New York	$8.51B	+$448M	61	1.97%	Increased
14	Massachusetts Financial Services Boston, Massachusetts	$7.67B	+$3.4B	17	3.68%	Increased
15	Bank of New York Mellon New York	$7.66B	-$311M	62	2.4%	Reduced
16	Capital International Investors Los Angeles, California	$7.51B	+$1.53B	8	3.74%	Increased
17	Wells Fargo San Francisco, California	$7.14B	-$394M	69	2.37%	Reduced
18	Morgan Stanley New York	$6.12B	-$551M	76	1.83%	Reduced
19	Janus Henderson Group London,	$5.42B	-$146M	25	3.46%	Reduced
20	Goldman Sachs New York	$5.2B	-$282M	57	1.66%	Reduced
21	Longview Asset Management (Illinois) Chicago, Illinois	$5.14B	+$821K	1	94.81%	Increased
22	Dimensional Fund Advisors Austin, Texas	$4.8B	+$29.2M	64	2.18%	Increased
23	Ameriprise Minneapolis, Minnesota	$4.62B	-$937M	54	2.31%	Reduced
24	UBS Group Zurich, Switzerland	$4.51B	+$356M	77	2.05%	Increased
25	Franklin Resources San Mateo, California	$4.28B	-$707M	22	2.58%	Reduced