The idea
I believe AI agents are becoming a new class of worker inside companies, and that shift puts more pressure on identity, the systems that log them in and limit what they can do, than on any other corner of security. So I built this around the core identity players, surrounded by bigger platforms that bought their way into identity, then cloud, network, and data defense further out, with a security fund for steadiness. I cap any single name, keep some cash in reserve, and plan to hold for five to ten years, revisiting if agents stop needing their own credentials and guardrails.
What will be bought
- These companies provide the foundational identity and access systems that agents will need to operate securely and distinctly within enterprise environments. · Okta, Inc.It is the largest stand-alone identity provider, handling authentication for both employees and customers, making it the most direct way to own identity infrastructure built for autonomous agents., SailPoint, Inc.It determines who can access what resources and continuously audits those permissions, a function that becomes essential once thousands of agents need carefully managed access levels., Microsoft CorporationIt operates Entra ID, the login system used by most enterprises, while simultaneously building the AI agents and agent-specific identity features that make it a natural platform for agent identity.27%
- These companies have added identity capabilities to their existing security platforms, positioning themselves to sell identity and agent governance to their current customer bases. · CrowdStrike Holdings, Inc.It added identity protection to its endpoint security platform, allowing it to sell identity tools to its existing customer base of organizations that already trust it for device protection., Palo Alto Networks, Inc.It acquired CyberArk to strengthen its identity security offerings, particularly for protecting privileged accounts and machine identities, and is integrating those tools across its security portfolio., Cisco Systems, Inc.It owns Duo, a widely deployed login verification tool, and Splunk for security monitoring, allowing it to reach identity security through the networks it already serves in large enterprises., ServiceNow, Inc.It manages access request and approval workflows and has acquired identity-focused companies like Veza while building AI agents, positioning it to become a governance platform for agent access and permissions.24%
- These companies control the network pathways and checkpoints that agents will traverse, allowing them to monitor and manage agent traffic and access. · Zscaler, Inc.It inspects every connection between users and applications rather than trusting internal networks, an approach that naturally extends to monitoring and controlling agent traffic., Cloudflare, Inc.It intercepts a large portion of internet traffic and provides zero-trust access controls and tools for managing AI traffic, positioning it as a key checkpoint for agent communications., Fortinet, Inc.It sells firewalls and network security to a broad base of mid-size companies, providing network-layer visibility and control as agents traverse enterprise and external networks., Check Point Software Technologies Ltd.It is a profitable firewall company that acquired Lakera to add AI security protections, giving it a path to sell agent security on top of its long-standing customer relationships.19%
- These companies protect sensitive data and detect misuse, which becomes more critical as AI agents gain broader access to company information. · Rubrik, Inc.It backs up enterprise data and enables recovery after attacks, and is developing tools to remediate actions taken by AI agents, addressing a new class of risk., Varonis Systems, Inc.It maps data access permissions across organizations, which becomes more important as AI assistants inherit the read and write access of their users., Tenable Holdings, Inc.It identifies security gaps across systems including risky accounts and permissions, helping organizations spot identity vulnerabilities before they can be exploited by attackers or rogue agents.12%
- This fund provides broad exposure to the cybersecurity sector, helping stabilize the take if individual holdings face headwinds. · First Trust NASDAQ Cybersecurity ETFIt holds a diversified basket of cybersecurity companies, providing stability to the take if any individual holding encounters difficulties.7%
- Cash11%