Rare Earth Magnets / Permanent Magnets

Where it stands

Each step compares the last four complete quarters with the two years before. A theme usually moves left to right: companies push, Congress and the White House act, the government buys, and markets respond.

1. 1. Companies pushing
   Rising

   15 companies and groups lobbied on it in Q2 2026, against 10 a year earlier.

2. 2. Congress
   Rising

   2 bills introduced and 0 became law in the last four quarters, against 2 and 0 a year before that.

3. 3. White House and agencies
   Quiet

   0 proposed rules, 0 final rules and 0 presidential actions in the last four quarters, against 0 a year before that.

4. 4. Government buying
   Rising

   34 purchase plans and award notices in the last four quarters, against 7 a year before that (records start October 2023).

5. 5. Markets
   Rising

   2 insider purchases in the theme's companies in the last four quarters, against 1 a year before that. Their stocks: -22% over the same year, against +14% for the S&P 500. Among the 50 largest holdings of the funds we track, these stocks were worth $2.0B at the end of Q1 2026, against $571.5M a year earlier; the figure moves with prices and with how many funds rank them that high.

The setup

The US government is actively working to secure a domestic supply chain for rare earth magnets, critical for defense and other advanced technologies. This effort is driven by both legislative proposals aimed at incentivizing domestic production and direct procurement actions by the Department of Defense. A key development is the invocation of the Defense Production Act to prioritize the recovery and processing of these materials.

How this developed

1. Feb 10, 2026HR 7473 (CMMSA 2.0) introduced to increase Section 45X credit for battery materials and ban foreign entity materials by Dec 2026.Bill
2. Feb 12, 2026HR7563, the Rare Earth Magnet Market Revitalization Act, introduced to support domestic rare earth production.Bill
3. May 26, 2026DOD's DLA awards E-VAC MAGNETICS LLC $12.89M for NDFEB magnet block acquisition.Federal contract
4. May 26, 2026DOD's DLA awards NOVEON MAGNETICS INC $12.89M for NDFEB magnet block acquisition.Federal contract
5. Jun 9, 2026HR9227 introduced to incentivize domestic production and use of permanent magnets via tax credits.Bill
6. Jul 30, 2026Presidential Memorandum invokes DPA Section 101 for recoverable critical minerals, including end-of-life rare-earth magnets.Executive action

The full story, year by year

* Year to date. Lobbying is the most companies and groups naming the theme in any one quarter. Insider buys are officer and director open-market purchases in MP, USAR. Fund holdings are the value of these companies among the top 50 positions of the funds whose 13F filings we track, at the latest quarter of each year. Stock returns are an equal-weight basket of the same companies with prices on file, split-adjusted, without dividends, against the S&P 500 over the same quarters.

• Lobbying before 2025 is still loading for this theme, so earlier years undercount.
• Lobbying reports for Q3 2026 are still being filed, so the comparison uses Q2 2026.

Why it matters

• The Department of Defense directly procured over $25 million in NdFeB magnet blocks from two US companies (E3, E4), indicating immediate demand for domestic supply.
• Multiple legislative efforts (HR 7473, HR7563, HR9227) are underway to incentivize domestic rare earth and permanent magnet production through tax credits and supply chain support, signaling a long-term policy commitment (E1, E2, E5).
• The Presidential Memorandum invoking the DPA (E6) provides the Secretary of Commerce with authority to issue priority contracts and supply-chain interventions for recoverable critical minerals, including rare-earth magnets, accelerating domestic recycling and processing capabilities.

Companies exposed to this theme

The record · 6 items, oldest first

• Feb 10, 2026BillCMMSA 2.0
• Feb 12, 2026BillRare Earth Magnet Market Revitalization Act
• May 26, 2026Federal contractE-VAC MAGNETICS LLC: NDFEB MAGNET BLOCK ACQUISITION
• May 26, 2026Federal contractNOVEON MAGNETICS INC: NDFEB MAGNET BLOCK ACQUISITION
• Jun 9, 2026BillTo amend the Internal Revenue Code of 1986 to incentivize the domestic production and use of permanent magnets, and for other purposes.
• Jul 30, 2026Executive actionPresidential Memorandum: Presidential Determination Pursuant to Section 101 of the Defense Production Act of 1950, as Amended, on Recoverable Critical Minerals and Materials

Some keyword matches were judged unrelated to this theme and are excluded from the record above.

How this story evolved

• Oct 16, 2026, 5:12 AM ETreal4 recordslatest record Sep 1, 2026

  DOD awards $25M for NdFeB magnet blocks, while a DPA order targets domestic recovery of rare-earth magnets.

  The US government is actively working to secure a domestic supply chain for rare earth magnets, critical for defense and other advanced technologies. This effort is driven by both legislative proposals aimed at incentivizing domestic production and direct procurement actions by the Department of Defense. A key development is the invocation of the Defense Production Act to prioritize the recovery and processing of these materials.

• Oct 15, 2026, 5:12 AM ETreal6 recordslatest record Sep 28, 2026

  DOD awards $25M in NdFeB magnet contracts, while a DPA order targets domestic rare-earth magnet recovery.

  The US government is actively working to secure a domestic supply chain for rare earth permanent magnets, critical for defense and technology. This effort is driven by both legislative proposals for tax incentives and direct procurement actions by the Department of Defense. A recent Presidential Determination under the DPA highlights the urgency of expanding domestic recovery and processing of these materials.

• Oct 11, 2026, 5:12 AM ETreal5 recordslatest record Sep 28, 2026

  DOD seeks domestic rare earth magnets after DPA invoked for critical mineral recovery, while Congress pushes tax incentives.

  The US government is actively working to secure a domestic supply chain for rare earth magnets, driven by national defense needs and economic incentives. This effort began with the Department of Defense seeking magnet blocks and has rapidly escalated with a Presidential Determination invoking the Defense Production Act for critical mineral recovery. Concurrently, Congress is introducing legislation to incentivize domestic production through tax credits.

• Oct 9, 2026, 5:15 AM ETreal5 recordslatest record Sep 28, 2026

  Presidential DPA order targets rare-earth magnet recycling, directing Commerce to prioritize domestic recovery and processing.

  The US government is actively working to secure a domestic supply chain for rare earth magnets, driven by national defense needs. This effort began with the Department of Defense seeking magnet blocks and has rapidly escalated to a Presidential Determination invoking the Defense Production Act to prioritize domestic recycling of critical minerals, including end-of-life rare-earth magnets. Congress is also exploring tax incentives for domestic magnet production.

• Oct 8, 2026, 5:15 AM ETreal5 recordslatest record Sep 28, 2026

  DOD seeks domestic rare earth magnets after DPA invoked for critical mineral recovery, while Congress pushes tax incentives.

  The US government is actively working to secure a domestic supply chain for rare earth magnets, driven by national defense needs and economic incentives. This effort began with the Department of Defense seeking magnet blocks and has rapidly escalated with a Presidential Determination invoking the Defense Production Act for critical mineral recovery. Concurrently, Congress is introducing legislation to incentivize domestic production through tax credits.

• Oct 7, 2026, 5:42 AM ETreal5 recordslatest record Sep 28, 2026

  DOD seeks domestic rare earth magnets after DPA invoked for critical mineral recovery, while Congress pushes tax incentives.

  The US government is actively working to secure a domestic supply chain for rare earth magnets, driven by national defense needs and economic incentives. This effort began with the Department of Defense seeking magnet blocks and has rapidly escalated with a Presidential Determination invoking the Defense Production Act for critical mineral recovery. Concurrently, Congress is introducing legislation to incentivize domestic production through tax credits.

• Oct 6, 2026, 5:15 AM ETreal10 recordslatest record Sep 28, 2026

  DOD and DOE accelerate domestic rare earth magnet sourcing and recycling, backed by DPA invocation.

  The US government is rapidly advancing efforts to secure a domestic supply chain for rare earth magnets, critical for defense and energy applications. This push is driven by the Department of Defense's immediate procurement needs and the Department of Energy's focus on recycling, significantly bolstered by a Presidential Determination invoking the Defense Production Act.

• Oct 5, 2026, 5:15 AM ETreal7 recordslatest record Sep 28, 2026

  Presidential DPA order on rare-earth magnet recovery follows DoD solicitations and new magnet production bills.

  The US government is actively working to secure a domestic supply chain for rare earth magnets, driven by both legislative efforts and direct executive action. This push intensified in mid-2026 with multiple Department of Defense solicitations for domestically sourced magnets, culminating in a Presidential Determination invoking the Defense Production Act for critical mineral recovery, specifically including end-of-life rare-earth magnets.

• Oct 4, 2026, 5:15 AM ETreal7 recordslatest record Sep 28, 2026

  Presidential DPA order on rare-earth magnet recovery follows DoD solicitations and new magnet production bills.

  The US government is actively working to secure a domestic supply chain for rare earth magnets, driven by both legislative efforts and direct executive action. This push intensified in mid-2026 with multiple Department of Defense solicitations for domestically sourced magnets, culminating in a Presidential Determination invoking the Defense Production Act for critical mineral recovery, specifically including end-of-life rare-earth magnets.

• Oct 3, 2026, 5:15 AM ETreal7 recordslatest record Sep 28, 2026

  Presidential DPA order on rare-earth magnet recovery follows DoD solicitations and new magnet production bills.

  The US government is actively working to secure a domestic supply chain for rare earth magnets, driven by both legislative efforts and direct executive action. This push intensified in mid-2026 with multiple Department of Defense solicitations for domestically sourced magnets, culminating in a Presidential Determination invoking the Defense Production Act for critical mineral recovery, specifically including end-of-life rare-earth magnets.

• Oct 2, 2026, 5:14 AM ETreal7 recordslatest record Sep 28, 2026

  DOD and DOE accelerate domestic rare earth magnet procurement after DPA invoked for critical mineral recovery.

  The US government is actively working to secure a domestic supply chain for rare earth magnets, driven by national defense needs. This effort intensified significantly in July 2026 with a Presidential Determination invoking the Defense Production Act for critical mineral recovery. Multiple solicitations from the Department of Defense and Department of Energy indicate a push for domestically sourced permanent magnets.

• Oct 1, 2026, 5:15 AM ETreal7 recordslatest record Sep 28, 2026

  DOD and DOE accelerate domestic rare earth magnet procurement after DPA invoked for critical mineral recovery.

  The US government is actively working to secure a domestic supply chain for rare earth magnets, driven by national defense needs. This effort intensified significantly in July 2026 with a Presidential Determination invoking the Defense Production Act for critical mineral recovery. Multiple solicitations from the Department of Defense and Department of Energy indicate a push for domestically sourced permanent magnets.