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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	$73.1B	-$849M	74	2.87%	Reduced
2	BlackRock New York	$61.7B	-$572M	71	2.76%	Reduced
3	State Street Boston, Massachusetts	$57.7B	+$599M	59	4.5%	Increased
4	T. Rowe Price Associates Baltimore, Maryland	$28.9B	+$423M	50	4.24%	Increased
5	Fidelity Investments Boston, Massachusetts	$21.1B	+$1.68B	53	2.53%	Increased
6	Newport Trust Company Washington, District of Columbia	$18.1B	-$1.3B	3	54.3%	Reduced
7	Capital World Investors Los Angeles, California	$16.5B	+$491M	11	3.99%	Increased
8	Bank of America Charlotte, North Carolina	$14.6B	+$447M	64	2.27%	Increased
9	Wellington Management Group Boston, Massachusetts	$14.2B	-$178M	44	3.22%	Reduced
10	Capital Research Global Investors Los Angeles, California	$11.3B	-$216M	16	3.57%	Reduced
11	Geode Capital Management Boston, Massachusetts	$11B	+$246M	68	2.86%	Increased
12	Northern Trust Chicago, Illinois	$10.3B	-$32M	69	2.54%	Reduced
13	Capital International Investors Los Angeles, California	$9.79B	+$824M	8	4.21%	Increased
14	JP Morgan Chase New York	$9.38B	-$493M	60	1.92%	Reduced
15	Massachusetts Financial Services Boston, Massachusetts	$9.14B	+$73.2M	16	3.85%	Increased
16	Bank of New York Mellon New York	$9.06B	-$108M	62	2.53%	Reduced
17	Wells Fargo San Francisco, California	$8.31B	-$92.1M	71	2.47%	Reduced
18	Morgan Stanley New York	$6.85B	-$418M	75	1.94%	Reduced
19	Janus Henderson Group London,	$5.98B	-$428M	25	3.32%	Reduced
20	Goldman Sachs New York	$5.86B	-$312M	58	1.77%	Reduced
21	Dimensional Fund Advisors Austin, Texas	$5.83B	+$207M	64	2.32%	Increased
22	Ameriprise Minneapolis, Minnesota	$5.6B	+$153M	55	2.58%	Increased
23	Longview Asset Management (Illinois) Chicago, Illinois	$5.57B	+$36.3M	1	93.84%	Increased
24	UBS Group Zurich, Switzerland	$5.49B	+$124M	75	2.27%	Increased
25	Franklin Resources San Mateo, California	$5.42B	+$307M	22	2.9%	Increased