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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	$77.1B	+$657M	88	2.27%	Increased
2	BlackRock New York	$61B	-$1.4B	90	2.07%	Reduced
3	State Street Boston, Massachusetts	$56B	-$286M	84	3.54%	Reduced
4	Fidelity Investments Boston, Massachusetts	$19.7B	+$252M	70	2.06%	Increased
5	Capital Research Global Investors Los Angeles, California	$19.2B	+$880M	10	6.3%	Increased
6	Wellington Management Group Boston, Massachusetts	$18B	-$1.31B	40	3.83%	Reduced
7	Capital International Investors Los Angeles, California	$17.1B	+$1.17B	13	4.98%	Increased
8	Bank of America Charlotte, North Carolina	$15.9B	-$486M	81	1.9%	Reduced
9	Geode Capital Management Boston, Massachusetts	$14.9B	+$209M	87	2.26%	Increased
10	Newport Trust Company Washington, District of Columbia	$14.3B	-$9.3M	4	48.43%	Reduced
11	Capital World Investors Los Angeles, California	$12.9B	-$405M	11	2.91%	Reduced
12	Morgan Stanley New York	$12.8B	+$11.3M	93	1.74%	Increased
13	T. Rowe Price Associates Baltimore, Maryland	$12.4B	-$5B	60	2.03%	Reduced
14	JP Morgan Chase New York	$11.2B	-$2.86M	77	1.6%	Reduced
15	Invesco Atlanta, Georgia	$9.56B	-$753M	65	3.08%	Reduced
16	Bank of New York Mellon New York	$8.87B	-$72.4M	75	2.15%	Reduced
17	Massachusetts Financial Services Boston, Massachusetts	$8.59B	+$76.6M	15	3.21%	Increased
18	Northern Trust Chicago, Illinois	$8.02B	-$146M	82	1.83%	Reduced
19	Charles Schwab San Francisco, California	$7.18B	+$163M	69	2.57%	Increased
20	Ameriprise Minneapolis, Minnesota	$6.7B	+$103M	57	2.48%	Increased
21	Wells Fargo San Francisco, California	$6.53B	-$31.3M	93	2.13%	Reduced
22	Longview Asset Management (Illinois) Chicago, Illinois	$6.37B	$0	1	97.45%	Maintained
23	Dimensional Fund Advisors Austin, Texas	$5.49B	-$80.1M	70	2.11%	Reduced
24	Franklin Resources San Mateo, California	$5.3B	-$157M	36	2.89%	Reduced
25	Dodge & Cox San Francisco, California	$5.13B	+$395M	5	3.89%	Increased