Billionaire Rinehart Bets $100 Million on US Defense Stocks

Gina Rinehart, Australia’s richest person, invested almost $100 million in US weapons-makers and also backed two mining companies during the first quarter of this year.

Her closely held Hancock Prospecting Ltd. bought shares in RTX Corp., Northrop Grumman Corp., L3Harris Technologies Inc. and Lockheed Martin Corp. that were worth a combined $97 million as of March 31, according to a regulatory filing.