Themes Transatlantic Defense ETF (NATO) Holdings
NATO holdings summary
as of Oct 25, 2026- Holdings
- 87 positions listed
- Top 10 weight
- 61.5% of net assets
- Effective holdings
- 21 equal-weight equivalent
- Largest holding
- RTX 9.17% RTX Corporation
- Annual turnover
- — of the portfolio traded
All NATO holdings
| # | Name | ||||||
|---|---|---|---|---|---|---|---|
| 1 | RTX | RTX Corporation | Industrials | 9.17% | $8.3M | $261.36B | 34.1 |
| 2 | GCP | General Electric Company | Other | 7.67% | $6.9M | — | — |
| 3 | RR | Rolls-Royce Holdings PLC | Industrials | 7.29% | $6.6M | — | — |
| 4 | BA | The Boeing Company | Industrials | 7.02% | $6.3M | $150.34B | 67.9 |
| 5 | AIR | Airbus Group SE | Industrials | 6.41% | $5.8M | — | — |
| 6 | SAF | Safran SA | Industrials | 6.25% | $5.6M | — | — |
| 7 | LMT | Lockheed Martin Corporation | Industrials | 5.55% | $5.0M | $127.42B | 20.3 |
| 8 | GD | General Dynamics Corporation | Industrials | 4.13% | $3.7M | $93.13B | 21.0 |
| 9 | NOC | Northrop Grumman Corporation | Industrials | 4.05% | $3.6M | $73.85B | 16.5 |
| 10 | BA | BAE Systems plc | Industrials | 4.01% | $3.6M | — | — |
| 11 | HWM | Howmet Aerospace Inc. | Industrials | 3.71% | $3.3M | $88.12B | 47.6 |
| 12 | HON | Honeywell International Inc. | Industrials | 3.50% | $3.2M | $67.00B | 7.8 |
| 13 | TDG | TransDigm Group Incorporated | Industrials | 3.21% | $2.9M | $62.98B | 34.6 |
| 14 | RHM | Rheinmetall AG | Industrials | 2.75% | $2.5M | — | — |
| 15 | LHX | L3Harris Technologies, Inc. | Industrials | 2.60% | $2.3M | $46.28B | 25.1 |
| 16 | AXON | Axon Enterprise, Inc. | Industrials | 1.61% | $1.5M | $31.71B | 161.9 |
| 17 | RKLB | Rocket Lab USA, Inc. | Industrials | 1.55% | $1.4M | $32.51B | — |
| 18 | TDY | Teledyne Technologies Incorporated | Technology | 1.50% | $1.3M | $28.68B | 29.9 |
| 19 | LDO | Leonardo S.p.A. | Industrials | 1.17% | $1.1M | — | — |
| 20 | HO | Thales S.A. | Industrials | 1.15% | $1.0M | — | — |
| 21 | BBD-B | Bombardier Inc Series B | Industrials | 1.06% | $957,765.55 | — | — |
| 22 | SAAB-B | Saab AB (publ) | Industrials | 1.04% | $939,038.80 | — | — |
| 23 | MTX | MTU Aero Engines AG | Industrials | 1.04% | $931,926.23 | — | — |
| 24 | CW | Curtiss-Wright Corporation | Industrials | 0.89% | $805,160.50 | $18.55B | 34.6 |
| 25 | FTAI | FTAI Aviation Ltd. | Industrials | 0.81% | $729,173.08 | $16.89B | 35.8 |
| 26 | TXT | Textron Inc. | Industrials | 0.71% | $640,581.12 | $13.20B | 14.3 |
| 27 | HEI | HEICO Corporation | Industrials | 0.65% | $585,391.20 | $43.31B | 51.6 |
| 28 | BWXT | BWX Technologies, Inc. | Industrials | 0.60% | $540,284.93 | $12.55B | 35.5 |
| 29 | HII | Huntington Ingalls Industries, Inc. | Industrials | 0.56% | $507,062.94 | $10.72B | 16.2 |
| 30 | MOG.A | Moog Inc. | Industrials | 0.49% | $440,258.84 | $11.67B | 31.1 |
| 31 | CZN | Crane Co | Other | 0.47% | $423,512.80 | — | — |
| 32 | ASELS | Aselsan Elektronik Sanayi ve Ticaret AS | Industrials | 0.42% | $376,785.94 | — | — |
| 33 | 27M | Melrose Industries PLC | Industrials | 0.42% | $376,605.88 | — | — |
| 34 | FXFXX | First American Funds Inc. - Treasury Obligations Fund | Other | 0.35% | $316,104.05 | — | — |
| 35 | KTOS | Kratos Defense & Security Solutions, Inc. | Industrials | 0.35% | $311,602.42 | $7.59B | 237.8 |
| 36 | HXL | Hexcel Corporation | Industrials | 0.32% | $292,155.41 | $6.82B | 45.6 |
| 37 | 0IAX | Dassault Aviation SA | Industrials | 0.31% | $275,589.43 | — | — |
| 38 | HAG | Hensoldt AG | Industrials | 0.30% | $271,447.94 | — | — |
| 39 | AVAV | AeroVironment, Inc. | Industrials | 0.21% | $188,798.12 | $6.19B | — |
| 40 | MRCY | Mercury Systems, Inc. | Industrials | 0.21% | $188,347.95 | $4.52B | — |
| 41 | AIR | AAR Corp. | Industrials | 0.18% | $166,560.09 | $3.97B | 20.3 |
| 42 | ARXS | Arxis, Inc. | Industrials | 0.18% | $164,129.22 | $23.31B | 676.2 |
| 43 | MIR | Mirion Technologies, Inc. | Industrials | 0.18% | $162,418.60 | $3.77B | 168.3 |
| 44 | R3NK | Renk Group AG | Industrials | 0.17% | $151,254.57 | — | — |
| 45 | Qinetiq Group PLC | Industrials | 0.16% | $147,203.11 | — | — | |
| 46 | OSIS | OSI Systems, Inc. | Technology | 0.16% | $144,051.97 | $3.11B | 21.8 |
| 47 | AMTM | Amentum Holdings Inc. | Industrials | 0.15% | $136,759.34 | $4.77B | 23.5 |
| 48 | JOBY | Joby Aviation, Inc. | Industrials | 0.15% | $134,418.50 | $4.64B | — |
| 49 | KRMN | Karman Holdings Inc. | Industrials | 0.14% | $123,434.53 | $4.60B | 119.6 |
| 50 | CSG | CSG N.V. | Industrials | 0.12% | $107,318.72 | — | — |
| 51 | ACHR | Archer Aviation Inc. | Industrials | 0.12% | $106,958.59 | $3.13B | — |
| 52 | BETA | Beta Technologies, Inc. | Industrials | 0.12% | $106,598.46 | $4.22B | — |
| 53 | DCO | Ducommun Incorporated | Industrials | 0.12% | $106,418.39 | $2.58B | — |
| 54 | BOY | Bodycote PLC | Industrials | 0.11% | $95,164.33 | — | — |
| 55 | RDW | Redwire Corporation | Industrials | 0.10% | $92,103.23 | $2.10B | — |
| 56 | CHG | Chemring Group PLC | Industrials | 0.10% | $92,013.20 | — | — |
| 57 | 2VZ | LEONARDO DRS INC. DL-01 | Industrials | 0.09% | $83,640.18 | — | — |
| 58 | ATRO | Astronics Corporation | Industrials | 0.09% | $81,659.46 | $2.65B | 33.6 |
| 59 | AVON | Avon Protection PLC | Industrials | 0.08% | $70,045.27 | — | — |
| 60 | SWBI | Smith & Wesson Brands, Inc. | Industrials | 0.07% | $65,363.58 | $634.0M | 26.2 |
| 61 | CHRT | Cohort | Industrials | 0.07% | $63,022.74 | — | — |
| 62 | LUNR | Intuitive Machines, Inc. | Industrials | 0.07% | $62,932.71 | $1.74B | — |
| 63 | FLY | Firefly Aerospace Inc. | Industrials | 0.06% | $57,620.79 | $2.80B | — |
| 64 | FII | Lisi S.A | Industrials | 0.06% | $57,260.66 | — | — |
| 65 | LOAR | Loar Holdings Inc. | Industrials | 0.06% | $56,360.33 | $5.83B | 87.6 |
| 66 | NPK | National Presto Industries, Inc. | Industrials | 0.06% | $56,360.33 | $1.06B | 24.9 |
| 67 | AVIO | Avio S.p.A | Industrials | 0.06% | $52,218.84 | — | — |
| 68 | GOE | Groupe Gorgé SA | Industrials | 0.06% | $51,138.45 | — | — |
| 69 | ISSC | Innovative Solutions and Support | Industrials | 0.06% | $51,048.42 | — | — |
| 70 | V1NC | VINCORION SE | Industrials | 0.06% | $49,968.03 | — | — |
| 71 | SPCE | Virgin Galactic Holdings, Inc. | Industrials | 0.05% | $47,897.28 | $368.4M | — |
| 72 | CZG | Colt CZ Group SE | Industrials | 0.05% | $43,125.56 | — | — |
| 73 | PKE | Park Aerospace Corp. | Industrials | 0.05% | $42,495.33 | $572.3M | 37.1 |
| 74 | BYRN | Byrna Technologies Inc. | Industrials | 0.05% | $40,874.75 | $113.3M | — |
| 75 | CDRE | Cadre Holdings, Inc. | Industrials | 0.04% | $37,993.71 | $1.13B | 32.6 |
| 76 | AIRO | AIRO Group Holdings, Inc. | Industrials | 0.04% | $37,183.42 | $167.2M | — |
| 77 | YSS | York Space Systems Inc. | Industrials | 0.04% | $33,312.02 | $766.5M | — |
| 78 | AVEX | AEVEX Corp. | Industrials | 0.04% | $32,321.66 | $1.06B | 73.1 |
| 79 | EVEX | Eve Holding, Inc. | Industrials | 0.03% | $31,061.21 | $564.5M | — |
| 80 | ASTC | Astrotech Corporation | Technology | 0.03% | $26,829.68 | $10.4M | — |
| 81 | SATL | Satellogic Inc. | Industrials | 0.03% | $25,299.13 | $590.4M | — |
| 82 | ALTNY | ALTINAY SAVUNMA | Industrials | 0.03% | $25,029.03 | — | — |
| 83 | SDTTR | SDT Uzay ve Savunma Teknolojileri A.S. | Industrials | 0.03% | $24,578.87 | — | — |
| 84 | AADX | Applied Aerospace & Defense, Inc. | Industrials | 0.03% | $23,228.38 | $1.96B | — |
| 85 | MNTS | Momentus Inc. | Industrials | 0.02% | $17,826.43 | $57.3M | — |
| 86 | ATROB | Astronics Corp Cl B | Industrials | 0.02% | $15,485.59 | — | — |
| 87 | EVTL | Vertical Aerospace Ltd. | Industrials | 0.01% | $11,794.26 | $67.5M | — |
Weights as a percentage of net assets. Value held = weight × net assets ($90.0M). Market cap and P/E from each company's latest fundamentals (U.S.-listed stocks).
NATO sector breakdown
| Sector | Weight | Holdings | Largest |
|---|---|---|---|
| Industrials | 89.1% | 81 | RTX, RR, BA |
| Other | 8.5% | 3 | GCP, CZN, FXFXX |
| Technology | 1.7% | 3 | TDY, OSIS, ASTC |
Sum of the weights of the holdings in each sector.
NATO top industries
NATO overlap with other ETFs
| ETF | Fund | Overlap | Shared holdings | Expense ratio |
|---|---|---|---|---|
| PPA | Invesco Aerospace & Defense ETF | 58.3% | 34 of 66 | 0.57% |
| WDGF | WisdomTree Global Defense Fund | 49.3% | 44 of 109 | — |
| IDEF | iShares Defense Industrials Active ETF | 44.7% | 42 of 150 | 0.57% |
| FOWF | Pacer Solactive Whitney Future of Warfare ETF | 38.5% | 17 of 85 | — |
| DIA | SPDR Dow Jones Industrial Average ETF | 4.7% | 2 of 30 | 0.16% |
| VTI | Vanguard Total Stock Market ETF | 2.1% | 55 of 2,941 | 0.03% |
Overlap = sum over shared holdings of the smaller of the two weights. 100% means identical portfolios.
About the NATO portfolio
Themes Transatlantic Defense ETF holds 87 positions. The ten largest make up 61.5% of the fund and the top 50 97.1%, so it behaves like a portfolio of about 21 equally weighted stocks. The biggest positions are RTX Corporation (9.17%), General Electric Company (7.67%), Rolls-Royce Holdings PLC (7.29%), The Boeing Company (7.02%), Airbus Group SE (6.41%).
By sector, Industrials is 89.1%, Other is 8.5%, Technology is 1.7%. Holdings data is from the fund's latest portfolio as reported by EODHD on October 25, 2026; positions change as the fund rebalances.
Related: NATO chart, NATO performance, NATO dividends, NATO overview.
NATO holdings FAQ
How many holdings does NATO have?
NATO holds 87 positions as of October 25, 2026.
What are the top 10 holdings of NATO?
The ten largest holdings are RTX Corporation (9.17%), General Electric Company (7.67%), Rolls-Royce Holdings PLC (7.29%), The Boeing Company (7.02%), Airbus Group SE (6.41%), Safran SA (6.25%), Lockheed Martin Corporation (5.55%), General Dynamics Corporation (4.13%), Northrop Grumman Corporation (4.05%), BAE Systems plc (4.01%). Together they are 61.5% of the fund.
What percentage of NATO is RTX Corporation?
RTX Corporation is the largest holding at 9.17% of net assets, about $8.3M of the fund's $90.0M.
Which sector is the largest in NATO?
Industrials is the largest sector at 89.1%, followed by Other (8.5%) and Technology (1.7%), based on the sectors of the individual holdings.
How concentrated is NATO?
The top 10 holdings are 61.5% of the fund. By the effective number of holdings (1 divided by the sum of squared weights) NATO behaves like a portfolio of about 21 equally weighted stocks.