U.S. stocks by sector and value chain
Sectivia is a free map of U.S.-listed stocks, grouped into six sectors and broken down into the segments that make up each value chain. Every company shows daily metrics: market cap, return, P/E, P/S and P/B. No login, no ads.
AI & digital infrastructure
Companies with exposure to artificial intelligence, from chips and semiconductor equipment to cloud platforms, data centers, cooling and power, and the software layer around AI. Includes Nvidia, AMD, Broadcom, Micron, Qualcomm, Microsoft and more.
Energy, grid & critical infrastructure
The electrification and grid build-out: utilities, grid equipment, power management and the infrastructure behind rising electricity demand.
Defense, security & space
Defense platforms, dual-use technology, communications, space and security companies serving U.S. and allied programs.
Medicine, pharma & life science
Big pharma, biotech, diagnostics, medtech, life-science tools and healthcare services across the U.S. market.
Quantum computing
The listed quantum pure plays and enablers — trapped ions, superconducting qubits, photonics, annealing, plus test and cryogenics. Includes IonQ, Rigetti, D-Wave and more.
Banks, payments & capital markets
The path money takes through the fees: banks, investment banks, payment networks (Visa, Mastercard), exchanges, credit ratings and asset managers. Includes JPMorgan, Bank of America, Visa, Mastercard, Goldman Sachs and BlackRock.
For overview and research, not personal investment advice.
Frequently asked questions
What is Sectivia?
Sectivia is a free website that maps U.S. market sectors and value chains. It groups U.S.-listed companies into five universes — AI and digital infrastructure, energy and grid, defense and space, medicine and life science, and quantum computing — and breaks each one into the segments that make up its value chain.
Is Sectivia free?
Yes. Sectivia is completely free to use, with no login and no ads.
Where does the market data come from?
Metrics come from Finnhub and are refreshed once a day after the U.S. market closes. Returns use prices adjusted for stock splits and dividends, so they can differ slightly from a simple price comparison.
Which sectors and companies does Sectivia cover?
Sectivia covers five universes of U.S.-listed companies: AI and digital infrastructure (chips, cloud, data centers, AI software), energy and critical infrastructure (utilities and the grid build-out), defense, security and space, medicine, pharma and life science, and quantum computing.
Is Sectivia investment advice?
No. Sectivia is for overview and research only. Data may be delayed or incomplete and should not be used as the basis for financial decisions.
What is a value chain in Sectivia?
A value chain is the set of segments that make up a sector, from upstream suppliers to downstream end markets. For example, the AI value chain runs from chipmakers and equipment suppliers through cloud platforms and data centers to the software layer. Sectivia groups companies by where they sit in that chain so you can see who supplies whom.
All companies by sector and segment
AI & digital infrastructure
Chips & accelerators
Designs and builds the processors, accelerators and memory that train and run AI.
- Nvidia (NVDA) — The world's leading manufacturer of GPUs and AI accelerators. Nvidia's chips and CUDA software are the de facto standard for training large AI models.
- AMD (AMD) — Nvidia's closest challenger on AI GPUs (MI series) and a major supplier of CPUs for servers and PCs.
- Broadcom (AVGO) — Designs custom AI chips (ASICs) for hyperscalers — including Google's TPUs — as well as networking chips and infrastructure software (VMware).
- Qualcomm (QCOM) — Leader in mobile chips and on-device AI — artificial intelligence that runs locally on phones and PCs rather than in the cloud.
- Marvell (MRVL) — Designs data infrastructure chips: custom AI accelerators, electro-optics and networking silicon for data centers.
- Intel (INTC) — American chip giant in turnaround: betting on becoming a Western foundry alternative (18A process) with political tailwinds and government support.
- GlobalFoundries (GFS) — Foundry specializing in mature process technologies — chips for automotive, defense and communications rather than the most advanced AI chips.
- Micron (MU) — The only large US memory manufacturer — number three in HBM and broadly exposed to DRAM and NAND for data centers.
- Western Digital (WDC) — Manufacturer of hard drives for data centers. AI is creating record demand for massive, low-cost storage of training data.
- Seagate (STX) — The world's largest hard drive manufacturer with new HAMR technology that significantly increases capacity — driven by cloud and AI data growth.
- Texas Instruments (TXN) — The world's largest maker of analog chips and embedded processors for industrial, automotive and electronics.
- Analog Devices (ADI) — High-performance analog, mixed-signal and DSP chips for industrial, communications, automotive and healthcare.
- Microchip Technology (MCHP) — Microcontrollers, analog and FPGA chips for embedded systems in industrial and automotive.
- ON Semiconductor (ON) — Power and sensor semiconductors for EVs, renewable energy and industrial automation.
- Arm Holdings (ARM) — Designs the chip architectures and instruction sets licensed into nearly every mobile and server chip — earning royalties per chip produced.
- Monolithic Power (MPWR) — Analog power-management chips that control power delivery in AI servers, data centers, cars and industry — a critical part of modern AI racks.
Semiconductor equipment & IP
The machines and chip IP advanced semiconductor manufacturing cannot do without.
- Applied Materials (AMAT) — The world's broadest supplier of chip manufacturing equipment: deposition, etching, implantation and inspection.
- Lam Research (LRCX) — Specialist in etch and deposition equipment — particularly critical for the production of HBM memory and advanced 3D chip stacking.
- KLA (KLAC) — Dominates the market for process control and inspection — the equipment that finds defects at the nanometer level so chip factories can improve yield.
- Synopsys (SNPS) — EDA software and semiconductor IP for chip design; one of the world's two leading EDA suppliers.
- Cadence Design Systems (CDNS) — EDA software, chip IP and system design tools; the #2 EDA player alongside Synopsys.
- Teradyne (TER) — Automatic test equipment (ATE) for chips plus industrial robots (Universal Robots).
- Entegris (ENTG) — Advanced materials, chemicals and filtration for chip manufacturing.
Cloud platforms
Rents out the compute — the 'power grid' of the AI era.
- Microsoft (MSFT) — The world's largest software company. Azure cloud, Copilot products and the close OpenAI partnership make Microsoft the broadest player of the AI era.
- Amazon (AMZN) — AWS is the world's largest cloud platform. Amazon develops its own AI chips (Trainium) and is the lead investor in Anthropic.
- Alphabet (GOOGL) — Google's parent company is unique: its own cloud, own TPU chips, own frontier model (Gemini) and the world's largest distribution channel in Search and Android.
- Oracle (ORCL) — The database giant has reinvented itself as an AI cloud: massive compute agreements including with OpenAI (Stargate) have made OCI one of the fastest-growing clouds.
- CoreWeave (CRWV) — Pure AI cloud ('neocloud'): rents GPU capacity exclusively at scale. Listed in 2025 with Nvidia as investor and supplier.
Data centers
Servers, networking, optics and data center capacity that tie AI infrastructure together.
- Arista Networks (ANET) — Leading provider of high-speed switches and network software for AI data centers — with significant exposure to hyperscaler demand.
- Cisco (CSCO) — The world's largest networking company — broad portfolio of switches, routers and security with a growing AI order book among hyperscalers.
- Coherent (COHR) — Produces optical transceivers and lasers — the components that transmit data as light between AI servers and data centers.
- Credo Technology (CRDO) — Specialist in high-speed connectivity: active electrical cables (AEC) and SerDes chips that connect GPUs and switches within the rack.
- Astera Labs (ALAB) — Supplies connectivity chips (PCIe/CXL retimers, optical modules) that resolve signal integrity issues between GPUs, CPUs and memory in AI servers.
- Ciena (CIEN) — Leading in long-distance optical transmission — connecting data centers with each other (data center interconnect).
- Super Micro (SMCI) — Fast-growing AI server manufacturer focused on liquid cooling and short lead times from new GPU to finished rack.
- Dell Technologies (DELL) — One of the world's largest server and PC manufacturers with a rapidly growing order book for AI servers serving enterprises and AI cloud customers.
- HPE (HPE) — Hewlett Packard Enterprise builds supercomputers (Cray) and AI servers and has strengthened its networking arm with the acquisition of Juniper.
- Equinix (EQIX) — The world's largest provider of neutral data centers (colocation) — leases space, power and interconnection to cloud providers, enterprises and AI operators.
- Digital Realty (DLR) — Global data center REIT that owns and operates data centers for hyperscalers and enterprises — from large wholesale halls to interconnection.
- Amphenol (APH) — Interconnect technology, cables and sensors; a key supplier of high-speed interconnect for AI servers and data centers.
- NetApp (NTAP) — Data storage and hybrid-cloud data services for enterprises and AI workloads.
- Pure Storage (PSTG) — All-flash data storage platforms and storage-as-a-service for modern data centers.
Cooling, power & data center infrastructure
Power, cooling and physical equipment — AI's physical foundation.
- Vertiv (VRT) — Leading supplier of power and cooling for data centers — particularly liquid cooling for AI racks, where heat dissipation is extreme.
- Modine Manufacturing (MOD) — Manufacturer of thermal systems that has pivoted toward data center cooling (CDUs and air cooling), where heat output from AI servers is extreme.
- Comfort Systems USA (FIX) — Mechanical contractor for HVAC, cooling and electrical infrastructure — a major beneficiary of data center construction.
- EMCOR Group (EME) — Mechanical and electrical construction plus facility services; builds and services data center infrastructure.
- Carrier Global (CARR) — Climate and refrigeration solutions; supplies data center cooling and building heat pumps.
AI software & productivity
Embeds AI models into the products and workflows we already use.
- Meta Platforms (META) — The Facebook/Instagram group is one of the world's largest AI investors: open Llama models, massive GPU clusters and an AI-driven advertising business.
- ServiceNow (NOW) — Platform for digital workflows in large enterprises — AI agents automate IT, HR and customer service processes.
- Salesforce (CRM) — The world's largest CRM vendor is betting heavily on Agentforce — AI agents that autonomously handle sales and customer service.
- Adobe (ADBE) — Standard software for creative work (Photoshop etc.) with Firefly AI built in — but itself also challenged by generative AI tools.
- Tesla (TSLA) — Electric vehicle maker increasingly priced as an AI company: autonomous driving technology (FSD/robotaxi) and Optimus robots built on proprietary AI chips and data.
- Duolingo (DUOL) — The world's largest language app uses generative AI for content production and conversation practice (Max subscription) — a clear example of AI in consumer products.
- AppLovin (APP) — AI-driven advertising platform (the Axon engine) that matches ads and users in apps — one of the most cited examples of applied AI in the advertising market.
- Intuit (INTU) — Financial software (TurboTax, QuickBooks, Credit Karma) with increasingly AI-driven assistants.
- Workday (WDAY) — Cloud software for HR and financial management for large enterprises, with built-in AI.
Data, analytics & enterprise AI
Makes enterprise data 'AI-ready' and powers operational AI.
- Palantir (PLTR) — Data platform for governments and enterprises. The AIP platform turns AI models into concrete decision-making tools — making Palantir one of the stock market's most highly valued companies.
- Snowflake (SNOW) — Cloud data platform where enterprises consolidate and share data — the foundation on which AI projects are built (Cortex AI).
- Datadog (DDOG) — Monitoring and observability of cloud systems — including AI models and LLM applications (LLM Observability).
- MongoDB (MDB) — Developer-focused document database and cloud platform (Atlas) for modern and AI applications.
IT consultants & integrators
Help enterprises adopt and scale AI in practice.
- IBM (IBM) — Enterprise IT veteran with the watsonx platform, hybrid cloud (Red Hat) and a large consulting business building AI solutions for enterprises.
- Cognizant (CTSH) — Global IT consulting and outsourcing firm with a growing AI and digital transformation business.
- Accenture (ACN) — The world’s largest IT consultancy — helps enterprises implement AI, cloud and digital transformation at scale.
Energy, grid & critical infrastructure
Grid & electrification
Cables, grid connection and infrastructure tying new capacity to demand.
- Quanta Services (PWR) — American specialty contractor building and upgrading power grids, transmission lines and renewable energy infrastructure — a direct play on grid expansion.
- Hubbell (HUBB) — Electrical infrastructure and grid components for utilities and industry.
- Emerson Electric (EMR) — Industrial automation and control technology for energy, grid and process industries.
- MasTec (MTZ) — Builds energy, power-grid and communications infrastructure across the US.
Power equipment
Turbines, transformers and power management for generating and distributing electricity.
- GE Vernova (GEV) — GE's spun-off energy company — gas turbines and grid equipment with a record order book, plus an SMR venture (BWRX-300).
- Eaton (ETN) — American electrical component giant: transformers, switchgear and power management — capacity sold out years ahead due to electrification and data centre demand.
- Rockwell Automation (ROK) — Industrial automation and digital factory control; electrification and control systems.
Solar & wind
Solar and wind capacity producers — the core of renewable build-out.
- First Solar (FSLR) — The largest US manufacturer of solar panels (thin-film) — central to expanding renewable energy capacity, including to meet data centres' power needs.
- Enphase Energy (ENPH) — Supplies microinverters and battery systems for solar energy — making distributed solar power practical for homes and businesses.
Batteries & energy storage
Battery cells and storage systems that balance the grid and store renewable energy.
- Fluence Energy (FLNC) — Supplier of large-scale battery storage systems for the power grid — balancing supply and demand and supporting renewable energy.
Nuclear energy & uranium
CO2-free baseload: uranium supply, fuel, reactor technology and small modular reactors (tags mark the role).
- Centrus Energy (LEU) — American supplier of enriched uranium — including HALEU for next-generation small modular reactors (SMR).
- BWX Technologies (BWXT) — Supplies nuclear components and fuel to the US Navy and is a key player in small modular reactors (SMR).
- NuScale Power (SMR) — Developer of small modular reactors (SMR) — one of the most advanced listed pure-play SMR ventures in the US.
- Oklo (OKLO) — Develops small fast reactors (SMRs) and plans to sell power directly to data centers — not yet in commercial operation.
- Curtiss-Wright (CW) — Components and systems for naval nuclear reactors, commercial nuclear power and defense platforms — more than a century of industrial history.
Utilities & power producers
Electricity utilities and large power producers — from nuclear to renewable portfolios.
- NextEra Energy (NEE) — One of the world's largest companies in renewable energy and electricity utilities — a major builder of wind, solar and grid capacity in the US.
- Constellation Energy (CEG) — The largest US nuclear power producer — delivering CO2-free baseload power, including via long-term agreements with data centres (Three Mile Island restart for Microsoft).
- Duke Energy (DUK) — Large US utility with a significant nuclear fleet and growing demand from electrification and data centres.
- Vistra (VST) — American power producer with a large portfolio of gas, nuclear and battery storage — exposed to rising electricity consumption from data centres.
- Southern Company (SO) — One of the largest US electric and gas utilities, with growing nuclear power (Vogtle).
- Dominion Energy (D) — Eastern US utility with electricity, gas and a large offshore wind bet.
- Talen Energy (TLN) — Independent power producer with nuclear capacity that supplies data centers directly.
- American Electric Power (AEP) — One of the largest US electricity transmission networks, covering 11 states.
- Exelon (EXC) — Regulated electricity and gas distribution utilities across several major US cities.
- NRG Energy (NRG) — Large U.S. power company with generation plants and millions of electricity and gas customers — positioned for rising power demand and data centers.
Defense, security & space
Defense integrators
The large primes that integrate complete defense systems and platforms.
- Lockheed Martin (LMT) — The world's largest defense contractor — combat aircraft (F-35), missile defense and space systems for the US and allies.
- Northrop Grumman (NOC) — American defense group with a focus on strategic systems — bombers (B-21), missiles and space programs.
- RTX (RTX) — Aerospace and defense group (formerly Raytheon) — missiles, air defense (Patriot) and aircraft engines (Pratt & Whitney).
- General Dynamics (GD) — American defense group — tanks (Abrams), submarines and warships, as well as business jets (Gulfstream).
- L3Harris (LHX) — Defense technology focused on communications, electronic warfare and space — an 'agile' challenger to the largest primes.
Drones & autonomous systems
Unmanned air and ground systems — a fast-growing defense segment.
- AeroVironment (AVAV) — American specialist in small drones and loitering munitions (Switchblade) — central to the rapid growth in unmanned systems.
- Kratos Defense (KTOS) — American defense company focused on unmanned combat aircraft, missile defense systems and low-cost drones.
Military platforms
Aircraft, ships and vehicles — the physical platforms defense systems are built on.
- Boeing (BA) — American aerospace and defense giant — commercial aircraft as well as a large defense, space and security division.
- Textron (TXT) — Maker of aircraft, helicopters and military vehicles (Bell, Cessna, Beechcraft).
- Huntington Ingalls Industries (HII) — The largest US military shipbuilder; builds aircraft carriers and submarines for the navy.
- Howmet Aerospace (HWM) — Precision-cast turbine blades, fastening systems and titanium structures for jet engines and airframes — a critical supplier to GE, RTX and Boeing.
- HEICO (HEI) — Family-run aerospace compounder — FAA-approved replacement parts for aircraft and niche defense electronics, built through hundreds of acquisitions.
Space industry & satellites
Launch, satellite communications and space systems — civil and military.
- Rocket Lab (RKLB) — Launch company and space systems provider — small-lift rockets (Electron), an upcoming larger rocket (Neutron) and satellite components.
- Iridium Communications (IRDM) — Operates a global satellite network for communications — coverage everywhere on earth for shipping, defense and IoT.
- Viasat (VSAT) — Provider of satellite broadband and secure communications solutions for aviation, defense and remote areas.
- AST SpaceMobile (ASTS) — Building a satellite network to give ordinary mobile phones direct connectivity from space — still in the build-out phase.
- Globalstar (GSAT) — Satellite network for communications and IoT — provides capacity for Apple's emergency calling via satellite, among others.
- SpaceX — The world’s dominant launch provider and owner of Starlink — privately held and not tradable; included to show the real balance of power in this segment.
Communications & defense data
IT services, secure communications and data analytics for defense and intelligence.
- Leidos (LDOS) — US provider of IT services, data analytics and systems for defense, intelligence and government agencies.
- Booz Allen Hamilton (BAH) — US consulting and technology firm with a strong focus on defense, intelligence and — increasingly — AI for government.
- CACI International (CACI) — IT, intelligence and communications technology for US defense and intelligence agencies.
Dual-use technology
Technology with both civil and military uses — from sensors to avionics.
- Honeywell (HON) — US industrial conglomerate with a large aviation and defense division — avionics, engines and dual-use technology.
- Teledyne Technologies (TDY) — US technology group in sensors, imaging and instrumentation — with both civil and military applications (incl. FLIR drones).
- GE Aerospace (GE) — The world's largest maker of jet engines for both civil aviation and military aircraft.
- TransDigm Group (TDG) — Specialized high-margin aircraft components for civil and military aircraft.
- Motorola Solutions (MSI) — Mission-critical communications (radio), video surveillance and public-safety software.
- Axon Enterprise (AXON) — Tasers, body cameras and cloud software for police and public safety.
Identity & access management
Secures who has access to apps and data — identity is the new perimeter.
- Okta (OKTA) — Leader in identity and access management — enables companies to secure who has access to apps and data.
Endpoint security
Protects computers, servers and devices from malware and advanced attacks.
- CrowdStrike (CRWD) — Cloud-based endpoint security — the Falcon platform protects businesses and government agencies against increasingly sophisticated attacks.
- SentinelOne (S) — AI-driven endpoint and cloud security (Singularity platform) — a direct challenger to CrowdStrike.
Network security
Firewalls and network defense that inspect and filter traffic.
- Palo Alto Networks (PANW) — The world's largest pure-play cybersecurity company — protects networks, cloud and critical infrastructure with an increasingly AI-driven platform.
- Fortinet (FTNT) — Network security with proprietary ASIC chips — firewalls, SASE and OT security for critical infrastructure.
Cloud security
Zero trust and cloud-delivered security — protecting cloud workloads and access.
- Zscaler (ZS) — Zero trust security delivered from the cloud — inspects all traffic between users, apps and services.
- Cloudflare (NET) — Global network protecting and accelerating websites and applications — DDoS defense, zero trust and edge services.
Data security
Protects sensitive data — classification, encryption and monitoring of data access.
- Varonis Systems (VRNS) — Data security specialist — discovers, classifies and monitors access to sensitive data in corporate systems.
SOC, XDR & threat detection
Detects and analyzes threats across the environment — security operations and XDR.
- Elastic (ESTC) — Search and data analytics platform (Elasticsearch) with a growing security business — SIEM and threat detection built on the same data layer.
Vulnerability management
Maps and prioritizes weaknesses before attackers exploit them.
- Tenable (TENB) — Vulnerability management specialist (exposure management) — maps and prioritizes weaknesses in corporate IT and OT environments.
- Qualys (QLYS) — Cloud-based platform for vulnerability management and compliance — scans and prioritizes weaknesses across IT environments.
- Rapid7 (RPD) — Security platform with vulnerability management and threat detection (InsightIDR) for mid-size and large enterprises.
Incident response & recovery
Backup, recovery and cyber resilience that bring systems back after attacks.
- Commvault Systems (CVLT) — Data protection and cyber resilience provider — backup and recovery that brings systems back after ransomware and outages.
- Rubrik (RBRK) — Cyber resilience and data security — protects, detects and recovers data after ransomware attacks (listed 2024).
Medicine, pharma & life science
Diabetes & metabolic disease
Treatment and monitoring of diabetes and metabolic disease — from insulin to glucose monitoring.
- Eli Lilly (LLY) — American pharmaceutical group with one of the industry's strongest pipelines — GLP-1 products Mounjaro and Zepbound, alongside treatments in diabetes, oncology and neurology.
- DexCom (DXCM) — American medtech company focused on continuous glucose monitoring (CGM) for people with diabetes.
- Insulet (PODD) — American medtech company known for Omnipod — a tubeless insulin pump for diabetes management.
Big pharma
Large, diversified pharmaceutical groups with broad portfolios across therapeutic areas.
- Pfizer (PFE) — Large American pharmaceutical group with a broad portfolio in vaccines, oncology and internal medicine.
- Merck & Co. (MRK) — American pharmaceutical group with strengths in oncology (Keytruda), vaccines and animal health.
- Johnson & Johnson (JNJ) — American healthcare group with a large pharmaceutical division (Innovative Medicine) and medtech division (MedTech).
- Bristol Myers Squibb (BMY) — American pharmaceutical group with strengths in oncology (Opdivo) and immunology, plus a neuroscience pipeline.
- AbbVie (ABBV) — Large biopharma with immunology (Skyrizi, Rinvoq), oncology and neuroscience.
- Zoetis (ZTS) — The world’s largest animal health company — medicines and vaccines for pets and livestock, spun off from Pfizer in 2013.
Biotech & innovation
Innovation-driven biotech companies focused on novel treatment modalities.
- Vertex Pharmaceuticals (VRTX) — American biotech company and global leader in cystic fibrosis treatment, with a pipeline in pain and gene therapy.
- Regeneron (REGN) — American biotech company focused on antibody-based medicines in ophthalmology, immunology and oncology.
- Gilead Sciences (GILD) — American biotech company and global leader in HIV treatment, with a growing oncology portfolio.
- Moderna (MRNA) — American biotech company based on mRNA technology — known for the covid vaccine, with a pipeline in vaccines and oncology.
- Biogen (BIIB) — American biotech company focused on neurological diseases — including Alzheimer's (Leqembi, with Eisai) and MS.
- Amgen (AMGN) — Veteran American biotech with a broad portfolio in oncology, immunology and bone diseases — and an obesity candidate (MariTide) in the pipeline.
- Alnylam Pharmaceuticals (ALNY) — Pioneer of RNAi medicines for rare and cardiovascular diseases.
- Incyte (INCY) — Biopharma focused on oncology and inflammation (Jakafi, Opzelura).
- BioMarin Pharmaceutical (BMRN) — Biopharma specialized in enzyme and gene therapies for rare genetic diseases.
- United Therapeutics (UTHR) — Biopharma in pulmonary hypertension and organ manufacturing (xenotransplantation).
- Neurocrine Biosciences (NBIX) — Biopharma focused on neurological and endocrine diseases (Ingrezza).
CDMO & pharma manufacturing
Contract development and manufacturing of medicines — the industrial backbone behind the drugs.
- West Pharmaceutical Services (WST) — American manufacturer of packaging and injection systems for pharmaceuticals — stoppers, syringe components and delivery systems, including for injectable biologics.
- Charles River Laboratories (CRL) — American provider of preclinical research and testing services for pharma and biotech — models and laboratory services throughout drug development.
- IQVIA Holdings (IQV) — Clinical research (CRO) and healthcare data analytics for the pharmaceutical industry.
Life science tools
Instruments, reagents and equipment for research, development and production.
- Thermo Fisher Scientific (TMO) — American world leader in life science tools — instruments, reagents, consumables and contract manufacturing (Patheon) for research and pharma.
- Danaher (DHR) — American group focused on life science and diagnostics — bioprocessing (Cytiva), molecular diagnostics and laboratory solutions.
- Illumina (ILMN) — American leader in DNA sequencing — instruments and consumables used in research and clinical genomics.
- Agilent Technologies (A) — American manufacturer of analytical instruments and laboratory solutions for life science, diagnostics and chemical analysis.
- Waters Corporation (WAT) — Analytical instruments (chromatography and mass spectrometry) for pharma and labs.
- Revvity (RVTY) — Life science tools and diagnostics across newborn screening and research.
Diagnostics
Tests, imaging and assays that support clinical decision-making.
- Abbott Laboratories (ABT) — American healthcare group with four divisions: diagnostics, medical devices (including glucose monitoring), nutrition and generics.
- Hologic (HOLX) — American medical technology company focused on women's health — diagnostics, mammography (imaging) and surgery.
- Bio-Rad Laboratories (BIO) — American manufacturer of products for clinical diagnostics and life science research — including blood typing and droplet digital PCR.
- IDEXX Laboratories (IDXX) — Diagnostics and software for veterinarians; market leader in veterinary diagnostics.
- Labcorp (LH) — One of the largest US clinical laboratory networks plus contract research.
- Quest Diagnostics (DGX) — Nationwide clinical laboratory network for routine and advanced diagnostics.
- Natera (NTRA) — Molecular and genetic diagnostics across prenatal screening, oncology and transplantation.
Medtech & devices
Medical equipment and devices — from surgery and cardiology to robotics.
- Medtronic (MDT) — World's largest medical device company — cardiology, surgery, neurology and diabetes treatment.
- Stryker (SYK) — American medtech company focused on orthopaedics, surgical equipment and robot-assisted surgery (Mako).
- Boston Scientific (BSX) — American medtech company with strong growth in cardiology — including electrophysiology (Farapulse) and structural heart treatment.
- Intuitive Surgical (ISRG) — American pioneer in robot-assisted surgery — da Vinci systems are used for minimally invasive procedures worldwide.
- Edwards Lifesciences (EW) — American specialist in heart valves and structural heart treatment — including transcatheter aortic valves (TAVR).
- Becton Dickinson (BDX) — American medtech group with a broad portfolio of medical consumables, diagnostics and drug delivery (syringes, needles).
- GE HealthCare (GEHC) — Medical imaging (CT, MRI, ultrasound) and patient monitoring globally.
- ResMed (RMD) — Devices and cloud software for sleep apnea and respiratory diseases.
- Zimmer Biomet (ZBH) — Orthopedic implants for knees, hips and trauma.
- Align Technology (ALGN) — Clear dental aligners (Invisalign) and digital dental scanning.
- Baxter International (BAX) — Hospital products across infusion, renal care and surgery.
Distribution & pharmacy infrastructure
Wholesalers, distribution and pharmacy chains that get medicines to patients.
- McKesson (MCK) — American pharmaceutical wholesaler — one of the largest distributors of medicines to pharmacies, hospitals and clinics in the US.
- Cencora (COR) — American pharmaceutical wholesaler (formerly AmerisourceBergen) — distributes medicines and specialty drugs to the healthcare sector.
- Cardinal Health (CAH) — American pharmaceutical wholesaler and medical products supplier — distributes medicines and manufactures medical consumables.
- CVS Health (CVS) — American healthcare group with a pharmacy chain, health insurance (Aetna) and a pharmacy benefit manager (Caremark).
- The Cigna Group (CI) — Health services group with pharmacy benefit management (Express Scripts) and health insurance.
- UnitedHealth (UNH) — The largest U.S. healthcare group — insurance (UnitedHealthcare) plus Optum: clinics, pharmacy benefits (PBM) and health data.
Quantum computing
Quantum hardware & platforms
The companies building the quantum computers themselves — trapped ions, superconducting qubits, photonics and annealing.
- IonQ (IONQ) — The leading trapped-ion quantum computing pure play — high qubit fidelity, access through the major cloud platforms and an aggressive, acquisition-driven roadmap toward quantum networking.
- Rigetti Computing (RGTI) — Superconducting-qubit quantum computers — one of the few players that designs and fabricates its own quantum chips in-house.
- D-Wave Quantum (QBTS) — The commercial pioneer in quantum annealing — optimization systems in enterprise use today, with a gate-model program developed in parallel.
- Quantum Computing Inc. (QUBT) — Photonics-based quantum technology — integrated photonic chips, reservoir computing and quantum sensing, with an in-house thin-film lithium-niobate foundry.
Enablers, test & components
The equipment and components quantum development rests on — test, cryogenics and photonics manufacturing.
- FormFactor (FORM) — Semiconductor test and measurement — probe cards for chip production plus cryogenic systems used by quantum labs and hardware makers. A picks-and-shovels exposure to the field.
Banks, payments & capital markets
Banks
Consumer and commercial banks that take deposits and make loans — the foundation of the system.
- JPMorgan Chase (JPM) — The largest U.S. bank by assets — retail and commercial banking, cards, and a top-tier investment bank under one roof. Its fee income spans deposits, cards, trading and advisory.
- Bank of America (BAC) — A leading U.S. consumer bank with a vast retail deposit base, plus wealth management (Merrill) and a large investment bank. Highly sensitive to interest rates.
- Wells Fargo (WFC) — A large U.S. retail and commercial bank rebuilding after years under a regulatory asset cap. Heavily weighted to lending and deposits rather than trading.
- Citigroup (C) — A global bank with a leading treasury and trade-services franchise for multinationals, alongside cards and consumer banking. In a multi-year simplification.
- U.S. Bancorp (USB) — One of the largest U.S. regional banks, known for strong returns and a sizable payments business alongside traditional lending and deposits.
- PNC Financial (PNC) — A large U.S. super-regional bank focused on commercial and consumer lending with a national expansion strategy. Deposit-and-loan driven, minimal trading.
Investment banking & trading
Advisory, underwriting and market-making for companies and institutions.
- Goldman Sachs (GS) — The premier U.S. investment bank — advisory, underwriting and trading — increasingly complemented by asset and wealth management. Earnings swing with deal and market activity.
- Morgan Stanley (MS) — An investment bank that has pivoted toward stable wealth and asset management, which now anchors earnings, alongside its markets and advisory franchise.
Payment rails & networks
The networks and processors that take a fee every time a card is swiped — the fee engine.
- Visa (V) — The world's largest card network — it does not lend, it takes a small fee on the value of every transaction that runs across its rails. A toll on global spending.
- Mastercard (MA) — The second global card network, a near-duopoly with Visa. Fee-based, capital-light and highly profitable, expanding into data and value-added services.
- American Express (AXP) — A closed-loop network and card issuer in one — it earns fees from merchants and interest from its affluent cardholders, and owns the customer relationship end to end.
- PayPal (PYPL) — A digital-payments platform spanning online checkout, peer-to-peer (Venmo) and merchant services. Growth has matured and competition has intensified.
- Fiserv (FI) — A payments and financial-technology backbone: it processes card transactions for banks and runs the Clover point-of-sale system for merchants. Fee-per-transaction economics.
- Global Payments (GPN) — A merchant-acquiring and payment-technology company that helps businesses accept and manage payments across channels. Competes directly with Fiserv and Block.
Brokers & fintech
Brokers, trading apps and crypto platforms where investors and consumers access the market.
- Charles Schwab (SCHW) — The largest U.S. discount broker and custodian, holding trillions in client assets. Earns on net interest, asset management fees and trading, not commissions.
- Robinhood (HOOD) — A mobile-first brokerage that popularized commission-free trading among younger investors, monetizing through order flow, margin, options and crypto. Volatile, retail-driven revenue.
- Interactive Brokers (IBKR) — A technology-driven brokerage for active and professional traders, known for low costs, global market access and high margins. Benefits directly from higher interest rates.
- Coinbase (COIN) — The largest U.S. crypto exchange, earning transaction fees plus growing custody, staking and stablecoin-linked revenue. Earnings swing hard with crypto prices and volumes.
- Block (XYZ) — The fintech behind Square (merchant payments) and Cash App (consumer finance), blending payments, banking-style services and bitcoin. Growth-oriented and competitive.
Exchanges & market data
The exchanges, index owners and ratings agencies that run — and price — the markets.
- Intercontinental Exchange (ICE) — Owner of the New York Stock Exchange plus global derivatives markets and a large mortgage-technology and data business. Toll-taker on trading and financial data.
- CME Group (CME) — The world's largest derivatives exchange, where investors hedge interest rates, equities, energy and commodities. Earns a fee on every contract; volumes rise with volatility.
- Nasdaq (NDAQ) — Operator of the Nasdaq stock market, increasingly a financial-technology and data company selling listing, index, analytics and anti-financial-crime software.
- S&P Global (SPGI) — A credit-ratings, index and data powerhouse — it rates the bonds companies issue, owns the S&P 500 index franchise and sells market intelligence. Highly recurring revenue.
- Moody’s (MCO) — One half of the credit-ratings duopoly with S&P, plus a fast-growing analytics business selling risk, data and modelling tools. A toll on corporate borrowing.
- MSCI (MSCI) — The leading provider of global equity indices that ETFs and funds track, plus fast-growing ESG, climate and portfolio-analytics data. Recurring, subscription-like revenue.
Asset & alternative managers
The managers that invest other people’s money — from ETFs to private equity and credit.
- BlackRock (BLK) — The world's largest asset manager, overseeing trillions through iShares ETFs and its Aladdin risk-technology platform. Earns fees on assets under management.
- Blackstone (BX) — The largest alternative-asset manager, investing in private equity, real estate, credit and infrastructure. Earns management fees plus performance fees on locked-up capital.
- KKR (KKR) — A global private-equity and alternative-investment firm expanding into credit, infrastructure and insurance, with a growing base of permanent capital.
- Apollo Global (APO) — An alternative manager built around private credit and its Athene retirement-services arm, using insurance liabilities as long-dated capital to lend at scale.