Oshkosh Corp
OSK
Industrials
2
exclusion reasons
2 themes
This page is part of our public exclusion list — a transparency tool that shows which companies we screen out and why. It is not investment advice, and it is not an accusation. But it is subject to change as our understanding of the facts evolves.
Oshkosh Corporation provides specialty trucks and military vehicles to the Israeli military. This includes the supply of armored vehicles and logistics support equipment used by the Israeli Defense Forces.
The company’s military equipment is cited by human rights organizations and UN experts as being used in Israel’s military operations in Gaza and the occupied West Bank. In a 2025 report, the UN Special Rapporteur on the occupied Palestinian territories identified arms suppliers, including Oshkosh, as potentially profiting from activities in Gaza. This followed a 2024 finding by the International Court of Justice that there was a plausible risk of genocide in Gaza. In June 2025, Norway’s largest pension fund, KLP, excluded Oshkosh citing its responsible investment guidelines related to violations of international humanitarian law in occupied territories.
Oshkosh Corporation is a major U.S. defense contractor specializing in military vehicles. According to SIPRI data, the company derives an estimated 20.1% of its total revenue from arms sales, which exceeds the materiality threshold for exclusion. Its primary military product line consists of armored vehicles, including the Joint Light Tactical Vehicle (JLTV) and the Family of Medium Tactical Vehicles (FMTV). Oshkosh Defense, LLC, its dedicated defense subsidiary, has secured and defended multiple sole-source contracts from the U.S. Army, including an $834 million manufacturing award in 2016 that survived a legal challenge from a competitor. The company's arms revenue has been linked to new contracts associated with the war in Ukraine.
Research Sources
1 organization
Related Exclusions
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Companies appear on our exclusion list based on our investment judgment — not because they've done anything illegal. This is a difference of values and opinion, not an accusation of wrongdoing. Exclusion does not constitute a recommendation against investing in any company, and absence from the list does not constitute a recommendation to invest.
This information is provided for educational and transparency purposes only and should not be relied upon as investment advice. Data is drawn from independent watchdogs, NGOs, government registries, and Ethical Capital's ongoing research — see Research Sources for the full list.
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