13F HOLDINGS REPORT
Ruffer LLP
Quarter ended Q3 2025 · Filed November 3, 2025 · Accession 0001426859-25-000012
Total Value
$1.80B
Positions
101
Other Managers
0
Confidential Omitted
No
Holdings (101)
| # | Issuer | Ticker / CUSIP | Shares | Value | % of Filing |
|---|---|---|---|---|---|
| 1 | AMAZON COM INC | AMZN | 672,796 | $147.7M | 8.21% |
| 2 | EQUINOX GOLD CORP | EQX | 8,651,889 | $97.0M | 5.39% |
| 3 | BANK AMERICA CORP | 060505104 | 1,871,642 | $96.6M | 5.37% |
| 4 | COOPER COS INC | 216648501 | 1,347,850 | $92.4M | 5.14% |
| 5 | BP PLC | BPPFF | 2,294,780 | $79.1M | 4.40% |
| 6 | NEWMONT CORP | NEMCL | 884,017 | $74.5M | 4.14% |
| 7 | ALIBABA GROUP HLDG LTD | BBAAY | 384,886 | $68.8M | 3.82% |
| 8 | CENTERRA GOLD INC | CGAU | 5,904,103 | $63.3M | 3.52% |
| 9 | BARRICK MNG CORP | 06849F108 | 1,800,635 | $59.0M | 3.28% |
| 10 | TAIWAN SEMICONDUCTOR MFG LTD | 874039100 | 204,387 | $57.1M | 3.17% |
| 11 | PFIZER INC | PFE | 2,023,065 | $51.5M | 2.87% |
| 12 | EXTRA SPACE STORAGE INC | EXR | 336,942 | $47.5M | 2.64% |
| 13 | ANGLOGOLD ASHANTI PLC | AU | 590,963 | $41.6M | 2.31% |
| 14 | ELDORADO GOLD CORP NEW | 284902509 | 1,412,740 | $40.8M | 2.27% |
| 15 | ARIS MNG CORP | 04040Y109 | 4,114,728 | $40.3M | 2.24% |
| 16 | SUNCOR ENERGY INC NEW | SU | 935,037 | $39.1M | 2.18% |
| 17 | GALIANO GOLD INC | GAU | 16,611,028 | $36.2M | 2.01% |
| 18 | PAN AMERN SILVER CORP | 697900108 | 901,751 | $34.9M | 1.94% |
| 19 | FIRST SOLAR INC | FSLR | 157,055 | $34.6M | 1.93% |
| 20 | SMURFIT WESTROCK PLC | SW | 785,589 | $33.4M | 1.86% |
| 21 | EXXON MOBIL CORP | XOM | 278,242 | $31.4M | 1.74% |
| 22 | MERCK & CO INC | MRK | 368,848 | $31.0M | 1.72% |
| 23 | GE AEROSPACE | 369604301 | 100,365 | $30.2M | 1.68% |
| 24 | PNC FINL SVCS GROUP INC | 693475105 | 131,909 | $26.5M | 1.47% |
| 25 | SKEENA RES LTD NEW | 83056P715 | 1,270,055 | $23.4M | 1.30% |
| 26 | TECK RESOURCES LTD | TCKRF | 502,602 | $22.1M | 1.23% |
| 27 | UNITED THERAPEUTICS CORP DEL | UTHR | 48,545 | $20.3M | 1.13% |
| 28 | GILEAD SCIENCES INC | GILD | 182,343 | $20.2M | 1.12% |
| 29 | IQVIA HLDGS INC | IQV | 102,970 | $19.6M | 1.09% |
| 30 | UNIVERSAL HLTH SVCS INC | 913903100 | 88,680 | $18.1M | 1.01% |
| 31 | ROYAL GOLD INC | RGLD | 82,940 | $16.6M | 0.92% |
| 32 | RYANAIR HOLDINGS PLC | RYAOF | 259,683 | $15.6M | 0.87% |
| 33 | PHILIP MORRIS INTL INC | 718172109 | 95,079 | $15.4M | 0.86% |
| 34 | SOLVENTUM CORP | SOLV | 207,557 | $15.2M | 0.84% |
| 35 | CHEESECAKE FACTORY INC | CAKE | 265,599 | $14.5M | 0.81% |
| 36 | INTERNATIONAL FLAVORS&FRAGRA | 459506101 | 220,210 | $13.6M | 0.75% |
| 37 | REGENERON PHARMACEUTICALS | REGN | 21,540 | $12.1M | 0.67% |
| 38 | INTEGRA RES CORP | ITRG | 3,156,453 | $9.2M | 0.51% |
| 39 | ALLIED GOLD CORP | AAUC | 498,940 | $8.7M | 0.48% |
| 40 | NOBLE CORP PLC | NE-WT | 289,439 | $8.2M | 0.45% |
| 41 | U HAUL HOLDING COMPANY | UHAL-B | 145,669 | $7.4M | 0.41% |
| 42 | BRISTOL-MYERS SQUIBB CO | CELG-RI | 151,760 | $6.8M | 0.38% |
| 43 | FEDERATED HERMES INC | FHI | 116,781 | $6.1M | 0.34% |
| 44 | FOX CORP | FOX | 87,164 | $5.5M | 0.31% |
| 45 | ALPHABET INC | GOOG | 22,450 | $5.5M | 0.30% |
| 46 | MUELLER INDS INC | 624756102 | 47,988 | $4.9M | 0.27% |
| 47 | ENERSYS | ENS | 41,526 | $4.7M | 0.26% |
| 48 | BLOCK H & R INC | BSQKZ | 91,950 | $4.6M | 0.26% |
| 49 | ROYALTY PHARMA PLC | RPRX | 130,184 | $4.6M | 0.26% |
| 50 | BERKSHIRE HATHAWAY INC DEL | BRK-A | 9,000 | $4.5M | 0.25% |
| 51 | ARROW ELECTRS INC | 042735100 | 36,923 | $4.5M | 0.25% |
| 52 | TD SYNNEX CORPORATION | SNX | 27,194 | $4.5M | 0.25% |
| 53 | COMCAST CORP NEW | CCZ | 139,073 | $4.4M | 0.24% |
| 54 | JANUS HENDERSON GROUP PLC | JHG | 98,157 | $4.4M | 0.24% |
| 55 | COPA HOLDINGS SA | CPA | 36,729 | $4.4M | 0.24% |
| 56 | PRICE T ROWE GROUP INC | TROW | 42,144 | $4.3M | 0.24% |
| 57 | MICRON TECHNOLOGY INC | MU | 25,664 | $4.3M | 0.24% |
| 58 | HEWLETT PACKARD ENTERPRISE C | HPE-PC | 164,531 | $4.0M | 0.22% |
| 59 | BORGWARNER INC | BWA | 91,181 | $4.0M | 0.22% |
| 60 | HF SINCLAIR CORP | DINO | 74,875 | $3.9M | 0.22% |
| 61 | BROOKFIELD CORP | 11271J107 | 56,500 | $3.9M | 0.22% |
| 62 | LKQ CORP | LKQ | 124,210 | $3.8M | 0.21% |
| 63 | TRAVEL PLUS LEISURE CO | 894164102 | 63,583 | $3.8M | 0.21% |
| 64 | INCYTE CORP | INCY | 44,135 | $3.7M | 0.21% |
| 65 | GARRETT MOTION INC | GTX | 270,470 | $3.7M | 0.20% |
| 66 | VIRTU FINL INC | 928254101 | 103,237 | $3.7M | 0.20% |
| 67 | CAL MAINE FOODS INC | CALM | 38,089 | $3.6M | 0.20% |
| 68 | DORMAN PRODS INC | 258278100 | 22,392 | $3.5M | 0.19% |
| 69 | MILLICOM INTL CELLULAR S A | L6388F110 | 71,312 | $3.5M | 0.19% |
| 70 | OWENS CORNING NEW | OC | 24,382 | $3.4M | 0.19% |
| 71 | EXELIXIS INC | EXEL | 81,696 | $3.4M | 0.19% |
| 72 | TOLL BROTHERS INC | TOL | 23,670 | $3.3M | 0.18% |
| 73 | ARTISAN PARTNERS ASSET MGMT | 04316A108 | 70,061 | $3.0M | 0.17% |
| 74 | FRONTLINE PLC | FRO | 124,843 | $2.8M | 0.16% |
| 75 | ATKORE INC | ATKR | 44,841 | $2.8M | 0.16% |
| 76 | SHOALS TECHNOLOGIES GROUP IN | SHLS | 369,142 | $2.7M | 0.15% |
| 77 | UPWORK INC | UPWK | 146,239 | $2.7M | 0.15% |
| 78 | MATCH GROUP INC NEW | MTCH | 76,595 | $2.7M | 0.15% |
| 79 | ANHEUSER BUSCH INBEV SA/NV | BUDFF | 45,000 | $2.7M | 0.15% |
| 80 | SUPERNUS PHARMACEUTICALS INC | SUPN | 55,385 | $2.6M | 0.15% |
| 81 | PERMIAN RESOURCES CORP | PR | 203,761 | $2.6M | 0.14% |
| 82 | OSHKOSH CORP | OSK | 18,991 | $2.5M | 0.14% |
| 83 | M & T BK CORP | 55261F104 | 11,240 | $2.2M | 0.12% |
| 84 | HALOZYME THERAPEUTICS INC | HALO | 30,199 | $2.2M | 0.12% |
| 85 | JPMORGAN CHASE & CO. | VYLD | 7,000 | $2.2M | 0.12% |
| 86 | CATALYST PHARMACEUTICALS INC | CPRX | 108,616 | $2.1M | 0.12% |
| 87 | CITIGROUP INC | C-PR | 20,970 | $2.1M | 0.12% |
| 88 | TENARIS S A | 88031M109 | 59,349 | $2.1M | 0.12% |
| 89 | FRANCO NEV CORP | FNV | 9,320 | $2.1M | 0.12% |
| 90 | CHEVRON CORP NEW | CVX | 11,000 | $1.7M | 0.09% |
| 91 | NOVAGOLD RES INC | 66987E206 | 140,480 | $1.2M | 0.07% |
| 92 | KINROSS GOLD CORP | KGCRF | 43,604 | $1.1M | 0.06% |
| 93 | BEST BUY INC | BBY | 12,094 | $914,548 | 0.05% |
| 94 | ARCOS DORADOS HOLDINGS INC | ARCO | 127,142 | $858,208 | 0.05% |
| 95 | FOMENTO ECONOMICO MEXICANO S | 344419106 | 8,000 | $789,040 | 0.04% |
| 96 | ENDAVA PLC | DAVA | 64,000 | $582,400 | 0.03% |
| 97 | GOLDMINING INC | GLDG | 401,996 | $491,139 | 0.03% |
| 98 | WELLS FARGO CO NEW | 949746101 | 5,000 | $419,100 | 0.02% |
| 99 | SABRA HEALTH CARE REIT INC | SBRA | 18,886 | $352,035 | 0.02% |
| 100 | PUBLIC STORAGE OPER CO | PSA-PS | 1,150 | $332,178 | 0.02% |
| 101 | TAYLOR MORRISON HOME CORP | TMHC | 3,363 | $221,992 | 0.01% |