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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	$77B	+$125M	82	2.23%	Increased
2	BlackRock New York	$65.2B	+$1.32B	81	2.08%	Increased
3	State Street Boston, Massachusetts	$57.1B	-$890M	65	3.5%	Reduced
4	T. Rowe Price Associates Baltimore, Maryland	$20.4B	-$795M	54	2.09%	Reduced
5	Newport Trust Company Washington, District of Columbia	$19.8B	+$2.7B	5	54.46%	Increased
6	Capital World Investors Los Angeles, California	$19.3B	+$339M	15	3.71%	Increased
7	Wellington Management Group Boston, Massachusetts	$19B	+$569M	42	3.51%	Increased
8	Fidelity Investments Boston, Massachusetts	$15.7B	+$200M	54	1.39%	Increased
9	Capital International Investors Los Angeles, California	$15.3B	+$547M	11	4.18%	Increased
10	Bank of America Charlotte, North Carolina	$14.9B	-$884M	72	1.92%	Reduced
11	Geode Capital Management Boston, Massachusetts	$13.7B	+$224M	78	2.3%	Increased
12	JP Morgan Chase New York	$12.5B	+$493M	65	1.84%	Increased
13	Morgan Stanley New York	$10.1B	+$1.07B	82	1.56%	Increased
14	Northern Trust Chicago, Illinois	$9.73B	-$370M	72	1.9%	Reduced
15	Massachusetts Financial Services Boston, Massachusetts	$9.73B	-$50.6M	14	3.12%	Reduced
16	Capital Research Global Investors Los Angeles, California	$9.7B	+$746M	12	2.52%	Increased
17	Bank of New York Mellon New York	$9.14B	-$220M	69	1.99%	Reduced
18	Wells Fargo San Francisco, California	$8.19B	+$158M	84	1.97%	Increased
19	Franklin Resources San Mateo, California	$6.57B	-$14.8M	31	2.78%	Reduced
20	Invesco Atlanta, Georgia	$6.5B	-$302M	62	1.89%	Reduced
21	Nuveen Charlotte, North Carolina	$6.42B	-$153M	57	2.17%	Reduced
22	Dimensional Fund Advisors Austin, Texas	$5.98B	-$43.8M	67	2.16%	Reduced
23	Charles Schwab San Francisco, California	$5.96B	-$4.29M	61	2.37%	Reduced
24	Ameriprise Minneapolis, Minnesota	$5.4B	-$331M	55	1.92%	Reduced
25	Norges Bank Oslo, Norway	$5.28B	+$324M	39	1.23%	Increased