The world woke up to a new geopolitical reality on March 1–2, 2026, when the United States and Israel launched a coordinated military campaign — dubbed Operation Epic Fury — against Iran, killing Supreme Leader Ali Khamenei and triggering retaliatory strikes across the Middle East. Within hours, global markets entered a sharp risk-off mode: S&P 500 futures fell around 1.4%, Brent crude surged toward $78 a barrel, and gold smashed through $5,300 per ounce for the first time in history.
While the human cost of any war is devastating and must never be minimised, investors have a fiduciary duty to protect and position their portfolios in volatile times. History shows that certain sectors consistently outperform during geopolitical shocks. If you are searching for the best shares to invest in March 2026 — especially shares to invest in war time — this guide cuts through the noise with seven analyst-backed picks, live data, and clear reasoning.
Disclaimer: This article is for informational purposes only and does not constitute personalised financial advice. Always consult a qualified financial adviser before investing.
Why War Creates Selective Market Opportunities
Middle East conflicts historically trigger short-term S&P 500 pullbacks of roughly 6%, but markets typically recover within weeks unless oil supplies face prolonged disruption. The key is selectivity. According to Wells Fargo strategists, their base-case scenario still targets the S&P 500 at 7,500 by year-end 2026, even after the Iran shock. The sectors that win in war time are defence, energy, cybersecurity/AI intelligence, and safe-haven assets like gold.
Here are the 7 best shares to invest in war time, specifically calibrated for the ongoing Iran-Israel-USA conflict.
1. Lockheed Martin (NYSE: LMT) — The No.1 War-Time Play
Sector: Defence & Aerospace | YTD Return (as of March 2026): +38%
The world’s largest defence contractor by revenue is the textbook beneficiary of any major military escalation. Lockheed Martin’s F-35 fighters, THAAD missile interceptors, and precision munitions are central to the Iran campaign. Its stock hit a new all-time high of $676.70 on the first trading day after the strikes, rising over 4% in a single session, according to Euronews.
Israel relies heavily on Lockheed’s systems to counter Iranian ballistic missiles, and Pentagon spending is expected to surge further amid broader regional instability. With a fair value price target of approximately $520–$528 per share cited by InvestingPro analysts before the war rally, further upside remains on the table for long-term holders.
Why it belongs in your war-time portfolio: Lockheed has a multi-year order backlog and benefits directly from NATO procurement expansion. It is the safest, most liquid entry point for investors seeking defence exposure.
2. RTX Corp / Raytheon (NYSE: RTX) — Missile Defence in Demand
Sector: Defence & Aerospace | Recent Close: ~$145.87
RTX, formerly Raytheon Technologies, is arguably even more directly tied to the Iran conflict than Lockheed. Its portfolio includes Patriot air-defence systems, Tomahawk cruise missiles, and AN/TPY-2 radar systems — all of which are actively deployed in the theatre. Iran and its proxies rely heavily on ballistic missiles and drones, making RTX’s interception systems critical.
Analysts at Zacks and Investing.com note that RTX has a documented history of share price appreciation during US-Iran flare-ups. The stock earns a “GOOD” InvestingPro Financial Health score. It is one of the top five holdings of the Global X Defense Tech ETF (SHLD), which has returned a remarkable 72.8% since April 2025, according to Motley Fool.
Why it belongs in your war-time portfolio: Direct product relevance to active operations, strong institutional backing, and a rising defence budget across NATO and the Gulf.
3. Palantir Technologies (NYSE: PLTR) — AI at the Heart of Modern Warfare
Sector: AI / Data Intelligence | Recent Performance: +15% in the week following the strikes
Palantir is not your conventional defence stock — it is the intelligence backbone of modern warfare. The company’s AI platforms are used by Israeli and US agencies for targeting, surveillance, and logistics. A recent $178M Pentagon contract underscores its expanding role in military infrastructure. Rosenblatt Securities raised its price target from $150 to $200 on March 3, 2026, while UBS upgraded the stock to a “Buy” on February 27.
PLTR now holds 15 “Strong Buy” ratings, up from just 10 a month ago, according to Barchart. The company carries minimal debt ($412M) against a cash pile of over $7 billion, and boasts gross margins of 82%. Earnings growth consensus stands at 75% for 2026.
Why it belongs in your war-time portfolio: Whether the kinetic phase of war ends or not, Palantir’s AI integration into US military infrastructure is a structural, multi-year growth story accelerated by this conflict.
4. Exxon Mobil (NYSE: XOM) — The Oil Price Shock Beneficiary
Sector: Energy | Movement on Day 1 of strikes: +4%
Iran controls a choke-point that the world cannot ignore: the Strait of Hormuz, through which approximately 20% of global oil and gas passes. An Iranian Revolutionary Guard commander announced its closure on March 2, sending Brent crude surging nearly 8% intraday. Exxon Mobil, as one of the largest integrated US majors, is a direct beneficiary of elevated crude prices.
Morningstar forecasts that oil prices will gradually normalise toward their long-term cycle price of around $65 per barrel, but also acknowledges that a sustained Hormuz closure would keep prices structurally elevated. Either way, Exxon’s upstream operations generate outsized profits in a high-oil-price environment.
Why it belongs in your war-time portfolio: Unlike the 1970s oil crisis, the US is now a net oil exporter, meaning Exxon profits from high prices without the same vulnerability to supply cuts. It is the most liquid, dividend-paying oil play available.
5. Chevron (NYSE: CVX) — Direct Stake in Israel’s Energy Fields
Sector: Energy | Movement on Day 1 of strikes: +4% | InvestingPro Fair Value: $187.57 (implied upside: ~26.6% from pre-war levels)
Chevron holds a unique position among oil majors because it has direct stakes in major energy fields including the Leviathan gas field offshore Israel, tying its fortunes directly to the regional security map. Analysts highlight that Chevron’s disciplined capital spending and commitment to shareholder returns via dividends make it ideal for war-time portfolios.
ConocoPhillips was also up more than 5% on the opening day of strikes, according to CNBC, but Chevron’s combination of regional exposure, scale, and dividend history makes it the more compelling long-term hold among energy names.
Why it belongs in your war-time portfolio: Direct geopolitical leverage, strong balance sheet, and a fat dividend yield make CVX a cornerstone energy holding in any war-time strategy.
Also Read: Ethereum Impact After USA-Iran-Israel Conflict
6. Northrop Grumman (NYSE: NOC) — Stealth Tech & Drones
Sector: Defence & Aerospace | YTD Return: +33% | Backlog: $95.68 billion (record)
If Lockheed is the sword, Northrop Grumman is the shield — and the stealth bomber. Its shares jumped 6% when strikes began, propelled by its dominance in stealth-bomber technology, missile-defence systems, and cutting-edge drone warfare. Northrop’s record backlog of nearly $96 billion means revenue visibility extends years into the future regardless of whether this particular conflict de-escalates.
Seeking Alpha’s quantitative analysis identified Northrop as one of the top 10 defence stocks riding both geopolitical and AI-enabled structural tailwinds. The company is also a key player in cyber defence, a rapidly growing theatre in the Iran conflict.
Why it belongs in your war-time portfolio: A record backlog, stealth technology moat, and multi-domain warfare capabilities make NOC a high-conviction, long-duration defence pick.
7. Barrick Mining (NYSE: B) — The Gold Miner’s Long Game
Sector: Gold Mining | Gold Price at War Outbreak: $5,183–$5,416/oz (record highs)
Gold surged above $5,300 per ounce within hours of the strikes — a historic milestone. JP Morgan has raised its gold price target to $6,300 per ounce by December 2026, reflecting analyst confidence that this is a structural, not temporary, repricing. Barrick Mining, the world’s largest gold miner, offers leveraged exposure to gold prices with a “Strong Buy” consensus from 8 analysts and a 12-month price target of $51.13.
The World Gold Council notes that gold mining stocks have historically outperformed physical gold bullion during war rallies by 1.5–2x due to operating leverage. Barrick posted record earnings and cash flows in its last quarter, with 2025 revenue of $16.96 billion — a 31% year-over-year increase. Short-term volatility has created a buying opportunity; as Motley Fool analyst Neha Chamaria notes, any dip is a chance to accumulate for the long term.
Why it belongs in your war-time portfolio: Gold is the ultimate safe-haven in geopolitical crises. Barrick gives you leveraged, dividend-paying exposure to a metal that JP Morgan expects to hit $6,300 by year-end.
Also Read: Nuclear Power Countries
Quick Summary
| # | Stock | Ticker | Sector | War-Time Catalyst |
|---|---|---|---|---|
| 1 | Lockheed Martin | LMT | Defence | F-35, THAAD, Pentagon contracts |
| 2 | RTX Corp | RTX | Defence | Patriot missiles, Tomahawk, radar |
| 3 | Palantir | PLTR | AI / Intelligence | Military AI, targeting platforms |
| 4 | Exxon Mobil | XOM | Energy | Oil price surge, Hormuz risk premium |
| 5 | Chevron | CVX | Energy | Leviathan field, oil price upside |
| 6 | Northrop Grumman | NOC | Defence | Stealth, drones, record $95B backlog |
| 7 | Barrick Mining | B | Gold Mining | Gold at record highs, JP Morgan $6,300 target |
Key Takeaways for Investors Seeking Shares to Invest in March 2026
- Defence is the clearest play. LMT, RTX, and NOC are directly tied to active military demand with multi-year order backlogs.
- Energy offers the most immediate upside risk. The Strait of Hormuz threat keeps oil prices elevated; XOM and CVX are the most liquid expressions of this trade.
- AI is the new dimension of war-time investing. Palantir’s integration into US military infrastructure is a structural shift, not a short-term trade.
- Gold remains the long-term safe haven. With JP Morgan targeting $6,300/oz, Barrick offers leveraged upside in a structurally higher gold price environment.
- Diversify across all four pillars — defence, energy, AI/intelligence, and gold — to balance risk and return in a prolonged conflict scenario.
Sources & References
- Euronews — The market winners: Which stocks are ‘boosted’ by the Iran war so far? (March 3, 2026)
- The Motley Fool — How Will Stocks React to the U.S. Attack on Iran? (March 1, 2026)
- Seeking Alpha — Top 10 Defense Stocks As Mideast Conflict Escalates (March 3, 2026)
- Morningstar — Where to Invest As Iran War Hits Global Stock Markets (March 2026)
- Invezz — Top stocks to invest in now as US–Iran war rages on (March 1, 2026)
- Investing.com — 10 Stocks to Own as Middle East Tensions Drive Investors Toward Safety (March 2026)
- CNBC — Stock market news for March 2, 2026
- Barchart — Wall Street Loves Palantir Stock as the Iran War Rages On (March 11, 2026)
- Motley Fool — Why Is Barrick Mining Stock Sinking This Week? (March 6, 2026)
- FinancialContent / MarketsMinute — Gold Hits Record $5,183 as US-Israel Strikes on Iran Ignite Global Safe-Haven Frenzy (March 5, 2026)
- IndMoney — Israel-Iran War Impact on US Stock Market (March 2, 2026)
- Canadian Mining Report — Gold Price Reaction to Iran War 2026: Scenarios & Forecasts from Goldman Sachs
This article was written by an experienced finance writer for educational purposes only. Stock prices and analyst targets are based on data available as of March 13, 2026. Past performance is not indicative of future results. Please conduct your own due diligence and consult a licensed financial adviser before making any investment decisions.