Hancock Prospecting Buys $97 Million of US Defense Stocks in First Quarter
Updated
Updated · Bloomberg · May 18
Hancock Prospecting Buys $97 Million of US Defense Stocks in First Quarter
1 articles · Updated · Bloomberg · May 18
$97 million of Hancock Prospecting's first-quarter holdings went into four US defense contractors—RTX, Northrop Grumman, L3Harris and Lockheed Martin—according to a regulatory filing.
Gina Rinehart's closely held company also backed two mining firms, extending the quarter's buying beyond weapons makers.
The purchases amount to almost $100 million and mark a notable US equities bet by Australia's richest person.
How will one billionaire's massive bet on US defense reshape Australia's role in global security alliances?
Is a dual investment in defense and rare earths a new blueprint for profiting from geopolitical instability?