Gina Rinehart's Hancock Prospecting adds defence stocks to US portfolio

• Added five major defense stocks (CrowdStrike, L3Harris, Lockheed, Northrop Grumman, and RTX) plus gold producer Newmont in a $133 million March reallocation
• Acquired a 6.3% stake in Rare Earths Americas and boosted Hudbay Minerals copper holdings by 10%, while exiting Chilean lithium producer SQM entirely
• Core holdings remain Invesco's QQQ Trust tech ETF and MP Materials rare earths producer, which together comprise 47% of the portfolio

Summary

Key Development:

Hancock Prospecting, owned by Australia's wealthiest individual Gina Rinehart, has strategically diversified its $3.3 billion U.S. investment portfolio by adding defense, gold, and rare-earths holdings in 2025.

Portfolio Changes:

In March, Hancock executed a $133 million reallocation toward defense and gold sectors. New defense stock acquisitions include CrowdStrike, L3Harris, Lockheed, Northrop Grumman, and RTX. The company also added major gold producer Newmont to its holdings.

Additional Strategic Moves:

• Acquired a 6.3% stake in Rare Earths Americas (announced May 14)
• Increased position in copper producer Hudbay Minerals by approximately 10%
• Completely divested from Chilean lithium producer SQM, despite jointly developing the Andover lithium project in Australia with the company

Core Holdings:

Hancock's largest positions remain concentrated in technology and rare earths, with Invesco's QQQ Trust (tech ETF) and U.S. rare earths producer MP Materials comprising 47% of the portfolio's total weighting as of end-March.

Market Implications:

The shift toward defense stocks suggests strategic positioning amid heightened geopolitical tensions, particularly the Iran conflict referenced in the article. The simultaneous increase in gold exposure indicates a defensive posture, as gold traditionally serves as a safe-haven asset during uncertainty. The exit from lithium while maintaining rare-earths and copper exposure reflects selective repositioning within critical minerals sectors. This diversification strategy by one of Australia's most prominent mining billionaires signals caution about technology sector concentration while capitalizing on defense spending trends and resource security concerns.