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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	$206B	+$2.13B	99	3.09%	Increased
2	BlackRock New York	$175B	+$4.92B	103	3.07%	Increased
3	State Street Boston, Massachusetts	$118B	-$2.39B	97	4.08%	Reduced
4	Fidelity Investments Boston, Massachusetts	$51.8B	+$2.21B	85	2.69%	Increased
5	Geode Capital Management Boston, Massachusetts	$48.6B	+$1.23B	103	3.1%	Increased
6	Capital International Investors Los Angeles, California	$39.3B	-$730M	13	6.34%	Reduced
7	Morgan Stanley New York	$38B	-$552M	108	2.3%	Reduced
8	Capital World Investors Los Angeles, California	$32B	-$2.53B	22	4.37%	Reduced
9	Capital Research Global Investors Los Angeles, California	$31.8B	-$5.1B	16	5.98%	Reduced
10	Bank of America Charlotte, North Carolina	$30.1B	-$111M	105	2.04%	Reduced
11	JP Morgan Chase New York	$29.8B	+$3.65B	99	1.79%	Increased
12	T. Rowe Price Associates Baltimore, Maryland	$27.2B	-$433M	69	2.91%	Reduced
13	Invesco Atlanta, Georgia	$24.8B	-$451M	74	3.91%	Reduced
14	Newport Trust Company Washington, District of Columbia	$21.7B	-$217M	6	49.46%	Reduced
15	Northern Trust Chicago, Illinois	$19.9B	+$379M	94	2.54%	Increased
16	Charles Schwab San Francisco, California	$19.2B	+$649M	78	3.06%	Increased
17	Wellington Management Group Boston, Massachusetts	$15.3B	-$2.36B	44	2.68%	Reduced
18	Goldman Sachs New York	$14.8B	-$434M	95	1.81%	Reduced
19	Bank of New York Mellon New York	$14.5B	-$225M	78	2.6%	Reduced
20	TCI Fund Management London, United Kingdom	$14.3B	$0	1	27.12%	Maintained
21	Massachusetts Financial Services Boston, Massachusetts	$12.7B	-$249M	24	3.95%	Reduced
22	Franklin Resources San Mateo, California	$12.7B	+$1.03B	60	3.16%	Increased
23	UBS Group Zurich, Switzerland	$12.5B	-$1.15B	114	1.96%	Reduced
24	Dimensional Fund Advisors Austin, Texas	$12.3B	+$4.07M	78	2.64%	Increased
25	Wells Fargo San Francisco, California	$12B	-$165M	92	2.28%	Reduced