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Ruffer LLP Portfolio holdings

AUM $2.83B
1-Year Est. Return 30.34%
This Fund
S&P 500
This Quarter Est. Return
+3.75%
1 Year Est. Return
+30.34%
3 Year Est. Return
+98.01%
5 Year Est. Return
+139.76%
10 Year Est. Return
+587.97%
AUM
$1.71B
AUM Growth
-$1.18B
Cap. Flow
-$1.2B
Cap. Flow %
-70.44%
Top 10 Hldgs %
58.17%
Holding
90
New
3
Increased
10
Reduced
39
Closed
20

Top Buys

Rank Stock Value
1
CI icon
Cigna
CI
+$22.3M
2
BAC icon
Bank of America
BAC
+$17.3M
3
PAAS icon
Pan American Silver
PAAS
+$16.6M
4
JXN icon
Jackson Financial
JXN
+$14.9M
5
GRFS
Grifois
GRFS
+$9.84M

Top Sells

Rank Stock Value
1
TSM icon
TSMC
TSM
+$101M
2
AEM icon
Agnico Eagle Mines
AEM
+$99.7M
3
MOS icon
The Mosaic Company
MOS
+$72.4M
4
KGC icon
Kinross Gold
KGC
+$71.3M
5
NTR icon
Nutrien
NTR
+$71.1M

Sector Composition

Rank Sector Weight
1 Materials 27.49%
2 Consumer Staples 12.66%
3 Consumer Discretionary 12.17%
4 Industrials 9.98%
5 Healthcare 9.47%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
BAC icon
26
Bank of America
BAC
$435B
$17.4M 1.02%
+606,490
New +$17.3M
SU icon
27
Suncor Energy
SU
$79.4B
$17.3M 1.01%
590,500
-213,200
-27% -$6.38M
GAU
28
Galiano Gold
GAU
$455M
$15.8M 0.93%
26,378,459
– –
NE icon
29
Noble Corp
NE
$6.77B
$13.5M 0.79%
327,700
-309,300
-49% -$11.9M
BTG icon
30
B2Gold
BTG
$5B
$12.5M 0.73%
3,497,676
– –
GRFS
31
Grifois
GRFS
$5.36B
$10.9M 0.64%
+1,192,250
New +$9.84M
MTB icon
32
M&T Bank
MTB
$35.7B
$10.6M 0.62%
85,950
-154,250
-64% -$18.7M
WPM icon
33
Wheaton Precious Metals
WPM
$49.5B
$10.6M 0.62%
245,116
-3,279
-1% -$156K
NOV icon
34
NOV
NOV
$6.93B
$10.5M 0.61%
653,630
-1,934,245
-75% -$31.5M
AA icon
35
Alcoa
AA
$11.9B
$10.5M 0.61%
309,044
-1,687,199
-85% -$61.3M
SSRM icon
36
SSR Mining
SSRM
$5.32B
$8.95M 0.52%
631,259
+151,900
+32% +$2.3M
SKE
37
Skeena Resources
SKE
$3.3B
$8.6M 0.5%
1,782,970
+562,600
+46% +$3.3M
FHI icon
38
Federated Hermes
FHI
$4.55B
$8.43M 0.49%
235,000
-300,000
-56% -$11.6M
SYF icon
39
Synchrony
SYF
$24.7B
$7.56M 0.44%
290,943
-1,160
-0.4% -$35.4K
FSM icon
40
Fortuna Silver Mines
FSM
$2.55B
$6.88M 0.4%
2,118,940
– –
TECK icon
41
Teck Resources
TECK
$29.6B
$5.45M 0.32%
129,470
+118,518
+1,082% +$5.09M
TS icon
42
Tenaris
TS
$28.9B
$4.32M 0.25%
144,400
-50,945
-26% -$1.41M
PM icon
43
Philip Morris
PM
$297B
$4.1M 0.24%
42,000
+14,000
+50% +$1.34M
CVX icon
44
Chevron
CVX
$392B
$3.46M 0.2%
22,000
– –
FMX icon
45
Fomento Económico Mexicano
FMX
$43.6B
$2.99M 0.18%
27,000
– –
DD icon
46
DuPont de Nemours
DD
$18.5B
$2.86M 0.17%
31,867
– –
GLDG
47
GoldMining Inc
GLDG
$178M
$2.1M 0.12%
2,301,996
– –
JPM icon
48
JPMorgan Chase
JPM
$935B
$2.05M 0.12%
14,070
-65
-0.5% -$8.94K
MKL icon
49
Markel Group
MKL
$23.3B
$1.8M 0.11%
1,300
– –
ARCO icon
50
Arcos Dorados Holdings
ARCO
$1.72B
$1.56M 0.09%
152,142
– –
1
2
3 4

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ISL
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AIP
Atlas Infrastructure Partners London, United Kingdom $2.84B AUM 4.75% 1-Year Est. Return
AF
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SAI
Systematic Alpha Investments Princeton, New Jersey $2.84B AUM 27.03% 1-Year Est. Return
MWM
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MSDF
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WG
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Ruffer LLP's Q2 2023 Portfolio in Review

As of Q2 2023, Ruffer LLP held 90 positions worth $1.71B, down 41% from $2.89B the previous quarter. Its ten largest holdings account for 58% of the portfolio.

Ruffer LLP withdrew a net $1.2B in Q2 2023, closing 20 positions and reducing 39 holdings. Its most notable exit was The Mosaic Company, an estimated $72.4M position sold in full.

By sector, the portfolio is most concentrated in Materials at 27% of assets, down from 35% a quarter earlier, followed by Consumer Staples and Consumer Discretionary.

Against the trend, Ruffer LLP opened a new position in Bank of America worth $17.4M.

  • Ruffer LLP's largest Q2 2023 buy was Bank of America: 606,490 shares worth $17.4M.
  • Ruffer LLP added most to Cigna in Q2 2023, an estimated $22.3M increase.
  • Ruffer LLP's biggest Q2 2023 reduction was TSMC, cutting an estimated $101M.
  • Ruffer LLP fully exited The Mosaic Company in Q2 2023, selling an estimated $72.4M.
  • Ruffer LLP's ten largest holdings make up 58% of its $1.71B portfolio in Q2 2023.
  • Ruffer LLP opened 3 new positions and closed 20 in Q2 2023.
  • Ruffer LLP's portfolio value fell 41% quarter-over-quarter to $1.71B.

Based on Ruffer LLP's 13F filing for Q2 2023, filed 10 Aug 2023.