We wouldn't really suggest making modifications to your portfolio based on the Ukraine situation. Historically, the market has a very, very short memory when it comes to geo political events. If we go all the way back to the second world war, the average drawdown on the market during situations like this is around 5%, and it typically lasts around 50 days until it recovers. In fact, the most impactful incident was Pearl Harbor, which caused a 20% dip in the market and it took a year to recover.
Our motto is to buy strong companies and hold them for the long term. The Ukraine situation does not change this at all. However, if investors are insisting to buy companies that would benefit short term from the situation, oil companies like Canadian Natural, Suncor, Imperial Oil etc and US Foundational Stock Lockheed Martin wouldn't be bad places to start.