"The Lobbying Index itself is not available for investing, and Strategas doesn't release the actual list of the 50 names that make up the basket, but they do provide performance statistics as well as insight into industry trends. Not surprisingly, Trennert says the 50 big spenders include many defense names and other government contractors, like Raytheon (RTN) or L-3 Communications (LLL), and include firms in "heavily regulated industries," such as pharmaceuticals. More recently, he says the list is not only undergoing more annual turnover, but it has also seen the banks drop from the ranks in the wake of the financial crisis. "I think it speaks to the fact that government is a much bigger part of the economy," Trennert points out, adding that many companies now actually view their lobbying expenditures along the same lines as R&D (research and development) or equipment spending. "Companies are understanding better the idea that it is important...that it is a fiduciary duty to spend money and make sure your voice is heard," he says." - Todd Hoff from Bookmarklet