This Billionaire Just Loaded Up on These U.S. Defense Stocks

Gina Rinehart, Australian billionaire mining magnate, is upping her stakes in U.S. defense companies with almost $100 million.

A document submitted to the U.S. securities regulator shows that Hancock Prospecting Ltd., which Rinehart chairs, invested a total of $97 million in RTX (RTX), Northrop Grumman Corp. (NOC), L3Harris Technologies (LHX), and Lockheed Martin Corp. (LMT) during the first three months of this year. The mining and agricultural company also boosted its stakes in Canadian copper and zinc mining firm Hudbay Minerals (HBM) and American gold miner Newmont Corp. (NEM).