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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	$62.8B	-$1.37B	79	2.08%	Reduced
2	BlackRock New York	$51.5B	-$958M	80	1.9%	Reduced
3	State Street Boston, Massachusetts	$50.8B	+$297M	63	3.47%	Increased
4	Capital World Investors Los Angeles, California	$17B	-$460M	14	3.72%	Reduced
5	Wellington Management Group Boston, Massachusetts	$16.8B	+$2B	38	3.48%	Increased
6	T. Rowe Price Associates Baltimore, Maryland	$15.3B	+$85.3M	52	1.78%	Increased
7	Newport Trust Company Washington, District of Columbia	$13.8B	+$91.4M	5	48.18%	Increased
8	Bank of America Charlotte, North Carolina	$13.6B	+$351M	73	1.86%	Increased
9	Capital International Investors Los Angeles, California	$13.2B	+$694M	12	4.08%	Increased
10	Fidelity Investments Boston, Massachusetts	$11.8B	-$1.1B	52	1.19%	Reduced
11	Geode Capital Management Boston, Massachusetts	$11B	+$104M	73	2.15%	Increased
12	JP Morgan Chase New York	$10B	+$787M	73	1.68%	Increased
13	Massachusetts Financial Services Boston, Massachusetts	$8.45B	-$100M	14	3.06%	Reduced
14	Northern Trust Chicago, Illinois	$8.22B	-$114M	72	1.8%	Reduced
15	Bank of New York Mellon New York	$7.63B	-$39.2M	62	1.88%	Reduced
16	Morgan Stanley New York	$7.33B	+$731M	77	1.42%	Increased
17	Capital Research Global Investors Los Angeles, California	$7.12B	-$468M	11	2.14%	Reduced
18	Wells Fargo San Francisco, California	$6.93B	+$157M	82	1.91%	Increased
19	Invesco Atlanta, Georgia	$5.64B	-$403M	57	1.91%	Reduced
20	Franklin Resources San Mateo, California	$5.45B	+$717M	29	2.64%	Increased
21	Nuveen Charlotte, North Carolina	$5.4B	-$429M	57	2.08%	Reduced
22	Ameriprise Minneapolis, Minnesota	$4.97B	+$99.3M	56	2.02%	Increased
23	Charles Schwab San Francisco, California	$4.9B	-$69.4M	60	2.25%	Reduced
24	Dimensional Fund Advisors Austin, Texas	$4.76B	+$2.14M	65	2.02%	Increased
25	Longview Asset Management (Illinois) Chicago, Illinois	$4.46B	$0	1	96.81%	Maintained