The All-American Engine: Building a Portfolio on US Soil
A Focused List of 40 Companies Powering the Domestic Economy
Why an “America First” Portfolio?
Welcome to a special edition of the Global Navigator. Each week in the free Navigator report, we explore opportunities around the world. But sometimes, the most compelling story for Americans is right at home.
Many sophisticated investors are looking for a way to bet directly on the enduring strength and unique cycles of the United States economy. They want companies whose fortunes rise and fall with American consumers, businesses, and infrastructure—not with overseas markets or global trade winds.
This isn’t about politics. It’s about investment focus. An “America First” portfolio is built on companies that get nearly all their revenue inside the United States. These are the quiet engines that power the daily lives of Americans: the electricity in your homes, the trains moving your goods, the banks financing your dreams, and the stores stocking your shelves.
In this article, we’ll break down a concentrated list of 40 such companies. They are organized by their role in the American economic engine, from foundational infrastructure to consumer spending. Think of it as building a house: you start with the utilities and wiring, add the financial plumbing, raise the logistical beams, and finally, furnish it with consumer goods and services.
Let’s explore the pure-play domestic watchlist for a portfolio to manage when the stock prices are right.
The All-American Engine: 40 US-Focused Companies
This portfolio is a direct bet on the US economy. It includes companies that make almost all of their money right here at home. They reflect the health of American business and consumers.
Part 1: Foundational Infrastructure
This is the bedrock of the economy—the essential services many of my readers depend on.
Utilities (12): The power companies. They provide electricity and gas to homes and businesses. Their steady performance is tied to American regulation and constant demand.
Stocks: NextEra Energy (NEE), Duke Energy (DUK), Dominion Energy (D), American Electric Power (AEP), Exelon (EXC), Southern Company (SO), Consolidated Edison (ED), Xcel Energy (XEL), Public Service Enterprise Group (PEG), DTE Energy (DTE), WEC Energy Group (WEC), PG&E (PCG).
Telecoms (4): The connectivity companies. They provide internet, phone, and TV services to millions of American homes and businesses.
Stocks: Verizon (VZ), T-Mobile (TMUS), Comcast (CMCSA), Charter Communications (CHTR).
Part 2: The Financial Engine
These companies fuel growth by lending money, managing wealth, and protecting against risk.
Major Banks (5): They are the circulatory system for the economy, handling loans for consumers and businesses.
Stocks: Wells Fargo (WFC), US Bancorp (USB), PNC Financial (PNC), M&T Bank (MTB), Discover Financial (DFS).
Insurers (6): From health to car to home insurance, their business is a direct read on American life, health, and safety trends.
Stocks: UnitedHealth Group (UNH), Progressive (PGR), Allstate (ALL), Travelers (TRV), Prudential Financial (PRU), Hartford Financial (HIG).
Part 3: Goods Movement & Logistics
These are the companies that move and manage the physical stuff of the economy.
Railroads (3): They are the arteries for freight, moving goods across the country. Their volume tells us about industrial and agricultural health.
Stocks: Union Pacific (UNP), Norfolk Southern (NSC), CSX (CSX).
Waste Handlers (2): An essential, non-cyclical service. The amount of waste they collect is a simple measure of American consumption and construction.
Stocks: Waste Management (WM), Republic Services (RSG).
Part 4: Consumer Spending
These companies live and die by the health of the American shopper.
Home Improvement (2): The go-to spots for DIY projects and pro contractors. They are a top indicator of housing market confidence.
Stocks: Home Depot (HD), Lowe’s (LOW).
Retail (3): From everyday essentials to value-focused fashion, these stores gauge the breadth of consumer spending.
Stocks: Target (TGT), TJX Companies (TJX), Dollar General (DG).
Part 5: Critical Services
Other essential pieces that keep the country running.
Food Distribution (1): The vital link supplying restaurants, schools, and hospitals across the nation.
Stock: Sysco (SYY).
Airlines (1): While global in name, its heart is a vast US network for business and personal travel.
Stock: Delta Air Lines (DAL).
Your Quick-Reference Watchlist
Here are the 40 companies in simple alphabetical order by their stock symbol:
AEP, ALL, CHTR, CMCSA, CSX, D, DAL, DFS, DG, DTE, DUK, ED, EXC, HD, HIG, LOW, MTB, NEE, NSC, PCG, PEG, PGR, PNC, PRU, RSG, SO, SYY, TGT, TJX, TMUS, TRV, UNH, UNP, USB, VZ, WEC, WFC, WM, XEL.
Final Thought: This watchlist is not part of the Bill Cara Playbook; it’s the American Playbook, if you will. It’s a starting point for building a focused US domestic-centric portfolio. It highlights the diverse yet interconnected engines that drive the US economy from within. By understanding these roles, investors can make more informed decisions about where they want to place their bets on America’s future.
Disclaimer: This article is for informational purposes only and does not constitute investment advice. Please conduct your own due diligence or consult with a financial advisor before making any investment decisions.
The telecom grouping here is interesting - putting CMCSA alongside VZ and TMUS treats them as pure connectivity plays, but Comcast's media assets (NBC Universal) make their revenue mix notably different from a traditional carrier. I've tracked these names through several cable cutting cycles and the wireline broadband moat has held up way better than people expected. The bigger observation is how youve basically constructed an inverted globalization trade - companies that benefit specifically from US economic activity without being exposed to currency swings or foreign regulatory risk. In an environment where deglobalizaton might accelerate, this framework makes more sense than it would have 5 years ago.