Institutional Manager · CIK 0001426859
Ruffer LLP
London, X0 · File #028-12772
Latest AUM
$2.20B
Positions
154
Top-10 Concentration
51.6%
Filings
9
Portfolio Value Over Time
2024-03
2024-06
2024-09
2024-12
2025-03
2025-06
2025-09
2025-12
Biggest QoQ Changes
Ranked by conviction flow (share change × current price) so mark-to-market moves don't dominate. Price effect column shows how much of the $ change was just the stock moving.
| Action | Issuer | Ticker / CUSIP | Δ Shares | Flow ($) | Price Effect |
|---|---|---|---|---|---|
| NEW | COINBASE GLOBAL INC | COIN | +735,190 | +$166.5M | $0 |
| ADD | SMURFIT WESTROCK PLC | SW | +3,718,562 | +$144.0M | -$3.0M |
| REDUCE | COOPER COS INC | 216648501 | -1,035,686 | -$85.0M | +$18.2M |
| REDUCE | NEWMONT CORP | NEMCL | -719,198 | -$71.9M | +$13.9M |
| NEW | DISNEY WALT CO | 254687106 | +567,615 | +$64.7M | $0 |
| REDUCE | TAIWAN SEMICONDUCTOR MFG LTD | 874039100 | -173,212 | -$52.7M | +$5.1M |
| REDUCE | BARRICK MNG CORP | 06849F108 | -1,149,975 | -$50.2M | +$19.5M |
| NEW | FLOOR & DECOR HLDGS INC | FND | +774,470 | +$47.2M | $0 |
| NEW | SCHLUMBERGER LTD | SLB | +1,146,543 | +$44.1M | $0 |
| REDUCE | EQUINOX GOLD CORP | EQX | -2,859,941 | -$40.3M | +$24.8M |
Sector Allocation
Filing History
- 13F HOLDINGS REPORTQ/E Dec 2025154 pos · $2.20B
- 13F HOLDINGS REPORTQ/E Sep 2025101 pos · $1.80B
- 13F HOLDINGS REPORTQ/E Jun 202598 pos · $2.26B
- 13F HOLDINGS REPORTQ/E Mar 202594 pos · $2.60B
- 13F HOLDINGS REPORTQ/E Dec 2024101 pos · $2.77B
- 13F HOLDINGS REPORTQ/E Sep 202456 pos · $3.17B
- 13F HOLDINGS REPORTQ/E Jun 202453 pos · $2.33B
- 13F HOLDINGS REPORTQ/E Mar 202460 pos · $2.60B
- 13F HOLDINGS REPORTQ/E Dec 202366 pos · $1.80B
Top 20 Holdings — Dec 2025
| # | Issuer | Ticker | Shares | Value | % of Portfolio |
|---|---|---|---|---|---|
| 1 | SMURFIT WESTROCK PLC | SW | 4,504,151 | $174.4M | 9.08% |
| 2 | COINBASE GLOBAL INC | COIN | 735,190 | $166.5M | 8.67% |
| 3 | AMAZON COM INC | AMZN | 671,466 | $155.2M | 8.08% |
| 4 | BANK AMERICA CORP | 060505104 | 1,668,030 | $91.9M | 4.78% |
| 5 | EQUINOX GOLD CORP | EQX | 5,791,948 | $81.5M | 4.24% |
| 6 | BP PLC | BPPFF | 2,235,750 | $77.8M | 4.05% |
| 7 | ALIBABA GROUP HLDG LTD | BBAAY | 481,064 | $70.6M | 3.68% |
| 8 | DISNEY WALT CO | 254687106 | 567,615 | $64.7M | 3.37% |
| 9 | ELDORADO GOLD CORP NEW | 284902509 | 1,611,656 | $58.0M | 3.02% |
| 10 | EXTRA SPACE STORAGE INC | EXR | 385,535 | $50.3M | 2.62% |
| 11 | SOLVENTUM CORP | SOLV | 614,558 | $48.8M | 2.54% |
| 12 | FLOOR & DECOR HLDGS INC | FND | 774,470 | $47.2M | 2.46% |
| 13 | CENTERRA GOLD INC | CGAU | 3,255,131 | $47.0M | 2.45% |
| 14 | SUNCOR ENERGY INC NEW | SU | 999,168 | $44.5M | 2.31% |
| 15 | SCHLUMBERGER LTD | SLB | 1,146,543 | $44.1M | 2.29% |
| 16 | ARIS MNG CORP | 04040Y109 | 2,647,139 | $43.1M | 2.24% |
| 17 | EXXON MOBIL CORP | XOM | 320,081 | $38.6M | 2.01% |
| 18 | GALIANO GOLD INC | GAU | 14,305,507 | $36.5M | 1.90% |
| 19 | GE AEROSPACE | 369604301 | 117,301 | $36.2M | 1.88% |
| 20 | PFIZER INC | PFE | 1,324,096 | $33.0M | 1.72% |