Gina Rinehart's Hancock Prospecting adds defence stocks to US portfolio
Lockheed Martin Corporation LMT | 0.00 | |
Hudbay Minerals Inc HBM | 0.00 | |
Northrop Grumman Corp. NOC | 0.00 | |
MP Materials MP | 0.00 | |
CrowdStrike CRWD | 0.00 |
MELBOURNE, May 18 (Reuters) - Hancock Prospecting, owned by Australia's richest person, Gina Rinehart, has added defence, gold and rare-earths holdings to its $3.3 billion U.S. portfolio this year, filings showed on Monday.
Hancock added CrowdStrike CRWD.O, L3Harris LHX.N, Lockheed LMT.N, Northrop Grumman NOC.N and RTX RTX.N as part of a $133 million portfolio shift towards defence firms and gold in March, according to a filing from May 15.
The company also added major gold producer Newmont NEM.N. Hancock Prospecting has also taken a 6.3% stake in Rare Earths Americas REA.A in the current quarter, a separate filing from May 14 showed.
Hancock boosted its position in copper producer Hudbay Minerals HBM.TO by around 10% and sold all its holdings in Chilean lithium producer SQM SQMA.SN, with which it is developing the Andover lithium project in Australia.
Its main holdings remain in tech exchange-traded fund Invesco's QQQ Trust QQQ.O and U.S. rare earths producer MP Materials MP.N, which together made up 47% of the portfolio's weighting at the end of March, Reuters calculations show.