The Trump administration has expanded federal equity positions in strategic sectors since early 2025, announcing roughly 35 deals worth about $27-28 billion across semiconductors, critical minerals, quantum computing, and defense manufacturing through Commerce, Defense, Energy, and Treasury channels. Recent activity includes September 2026 closings with Hertha Metals and Elmet Group, building on earlier stakes such as Intel’s approximately 10 percent holding and positions in MP Materials and quantum firms. This approach treats equity instruments as tools for supply-chain security and industrial policy, with traders pricing higher probabilities for additional quantum and defense names before the December 31, 2026 resolution deadline. Further announcements in AI-related or defense contractors could shift remaining odds, while the absence of new deals in the final months would limit resolutions.