75 Critical U.S. Public Companies
The U.S. took a stake in MP Materials earlier this year and the stock is up 360% year to date. Who's next? This list hopefully covers the potential candidates.
For a long time, I’ve said COVID exposed just how fragile America’s productive capacity has become. When the pandemic hit and supply chains froze, we quickly learned how little we actually made here at home.
Even for critical needs—medications, protective gear, semiconductors, rare-earths, steel—we found ourselves relying on overseas suppliers and the goodwill of trading partners whose priorities didn’t always align with ours.
The vulnerabilities weren’t hypothetical—they were real, and they had consequences. From a shortage of basic pharmaceuticals to bottlenecks in military electronics, the experience revealed a stark truth: a nation that can’t produce its own essentials is a nation at risk.
That’s why the recent nationalization of MP Materials—aimed at securing domestic rare-earth production for defense applications—isn’t just an isolated case. It’s likely a signal. It reflects a growing recognition that some industries are too vital to be left exposed to foreign dependence.
On news of the government’s stake in MP, the stock surged nearly 50% and it is now up almost 360% since just earlier this year.
So, with that in mind, here’s a my list list of 75+ U.S.-based, U.S.-run companies across defense, technology, energy, healthcare, transportation, and essential consumer goods that the United States could, in theory, seek to keep “close to home” through partnerships, protections, or even deeper integration with government.
These companies represent the industrial backbone that underpins not just our economy—but our national security itself.