MELBOURNE, May 18 - Hancock Prospecting, owned by Australia’s wealthiest individual, has shifted parts of its $3.3 billion U.S. investment portfolio toward defence firms, gold producers and rare-earths assets this year, according to corporate filings.
The company disclosed in a May 15 filing that it completed a roughly $133 million realignment in March that brought new or larger positions in CrowdStrike, L3Harris Technologies, Lockheed Martin, Northrop Grumman and RTX, alongside an addition of major gold producer Newmont. A separate filing dated May 14 shows Hancock acquired a 6.3% stake in Rare Earths Americas during the current quarter.
Additional portfolio moves reported by Hancock include a near 10% increase in its holding of copper producer Hudbay Minerals and the complete disposal of its stake in Chilean lithium producer SQM, with which the company is also collaborating on the Andover lithium project in Australia. Despite the recent rotation, Hancock’s principal U.S. holdings remain the Invesco QQQ Trust ETF and rare-earths producer MP Materials; together those two positions represented 47% of the portfolio weighting at the end of March, based on calculations supplied with the filings.
The March reposition described in the filing emphasises a tilt toward defence contractors and gold exposure, with specific purchases listed as CrowdStrike, L3Harris, Lockheed, Northrop Grumman and RTX. The May 14 disclosure separately documents the 6.3% stake in Rare Earths Americas, signalling a direct commitment to a company focused on rare-earths.
Other trades noted include the increase in Hudbay Minerals and the sale of SQM. The filings do not provide additional commentary on strategic motives beyond the transaction details and percentage holdings disclosed. At the end of the most recent quarter, the concentration in QQQ and MP Materials remained material, accounting for nearly half of the reported U.S. portfolio by weighting.
Portfolio snapshot - confirmed moves
- Added defence-related equities: CrowdStrike, L3Harris, Lockheed Martin, Northrop Grumman, RTX (March reallocation documented on May 15).
- Added gold exposure via Newmont as part of the March realignment.
- Acquired a 6.3% stake in Rare Earths Americas in the current quarter (May 14 filing).
- Raised position in Hudbay Minerals by around 10% and sold all holdings in SQM.
- QQQ and MP Materials remained the dominant holdings, together making up 47% of the portfolio at the end of March.
The filings provide a record of transactional activity and reported weightings but do not elaborate on forward strategy, timing, or expected holding periods for these positions.