Elbit is Israel's flagship defense contractor and a direct beneficiary of US-funded military aid that is often spent back on Israeli-made systems. If the money funnel is the real story, Elbit captures both US aid dollars and surging global demand. It is the purest single-name proxy for the Israel arms pipeline.

ITA holds the prime US contractors (Lockheed, RTX, General Dynamics, Northrop) that receive the appropriations the thesis describes as the true purpose of the relationship. Foreign Military Financing to Israel must largely be spent on US-made weapons, routing taxpayer money straight back to these firms. This is the cleanest diversified expression of the funnel.

Lockheed makes the F-35s, missiles and systems that US aid dollars to Israel and the wider region purchase. As the single largest recipient of the defense budget, it is the most concentrated bet on taxpayer money flowing to the elite contractor class. Steady backlog and dividends make it a low-volatility core holding.

Raytheon makes Iron Dome interceptors (co-produced with Rafael) and the missiles consumed in every escalation, so each round of US funding directly replenishes its order book. Long-dated call options give leveraged, time-bound exposure to continued appropriations with defined downside. The asymmetry suits a high-conviction view that the money keeps flowing.