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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
+4.13%
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
$2.33B
AUM Growth
-$268M
Cap. Flow
-$368M
Cap. Flow %
-15.78%
Top 10 Hldgs %
67.36%
Holding
62
New
2
Increased
14
Reduced
33
Closed
9

Top Buys

Rank Stock Value
1
CI icon
Cigna
CI
+$59.4M
2
AGNC icon
AGNC Investment
AGNC
+$55.5M
3
C icon
Citigroup
C
+$55.3M
4
AMZN icon
Amazon
AMZN
+$18.7M
5
SHEL icon
Shell
SHEL
+$15.7M

Top Sells

Rank Stock Value
1
NEM icon
Newmont
NEM
+$102M
2
EWBC icon
East-West Bancorp
EWBC
+$77.9M
3
TSM icon
TSMC
TSM
+$73M
4
KGC icon
Kinross Gold
KGC
+$67.9M
5
B
Barrick Mining
B
+$56.6M

Sector Composition

Rank Sector Weight
1 Materials 29.72%
2 Financials 16.06%
3 Healthcare 14.92%
4 Consumer Discretionary 13.59%
5 Consumer Staples 7.44%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
ARIS
26
Aris Mining
ARIS
$2.76B
$19.4M 0.83%
5,145,800
-9,700
-0.2% -$38.9K
SHEL icon
27
Shell
SHEL
$254B
$15.9M 0.68%
+220,000
New +$15.7M
BRK.B icon
28
Berkshire Hathaway Class B
BRK.B
$1.1T
$14.2M 0.61%
34,890
-8,550
-20% -$3.49M
SKE
29
Skeena Resources
SKE
$3.3B
$13.7M 0.59%
2,558,170
+11,300
+0.4% +$53.3K
NE icon
30
Noble Corp
NE
$6.77B
$13.3M 0.57%
297,451
-1,221
-0.4% -$56.4K
WPM icon
31
Wheaton Precious Metals
WPM
$49.5B
$11.7M 0.5%
222,947
-307,768
-58% -$16.5M
BTG icon
32
B2Gold
BTG
$5B
$10.2M 0.44%
3,797,676
– –
TS icon
33
Tenaris
TS
$28.9B
$6.91M 0.3%
226,221
-101,324
-31% -$3.51M
GFI icon
34
Gold Fields
GFI
$29B
$6.07M 0.26%
+407,392
New +$6.62M
BN icon
35
Brookfield
BN
$104B
$4.57M 0.2%
165,000
-15,000
-8% -$418K
AU icon
36
AngloGold Ashanti
AU
$40.1B
$4.31M 0.19%
171,655
-349,000
-67% -$8.28M
JPM icon
37
JPMorgan Chase
JPM
$935B
$4.1M 0.18%
20,265
+4,729
+30% +$925K
FMX icon
38
Fomento Económico Mexicano
FMX
$43.6B
$2.58M 0.11%
24,000
-3,000
-11% -$351K
CVX icon
39
Chevron
CVX
$392B
$1.72M 0.07%
11,000
-11,000
-50% -$1.75M
DD icon
40
DuPont de Nemours
DD
$18.5B
$1.61M 0.07%
15,933
-1,594
-9% -$156K
ALB icon
41
Albemarle
ALB
$13.9B
$1.47M 0.06%
15,400
+1,000
+7% +$119K
DNOW icon
42
DNOW Inc
DNOW
$2.58B
$1.37M 0.06%
100,000
– –
ARCO icon
43
Arcos Dorados Holdings
ARCO
$1.72B
$1.14M 0.05%
127,142
-25,000
-16% -$257K
WFC icon
44
Wells Fargo
WFC
$261B
$1.07M 0.05%
18,000
-4,000
-18% -$236K
ITRG
45
Integra Resources
ITRG
$424M
$935K 0.04%
953,831
– –
GLDG
46
GoldMining Inc
GLDG
$178M
$805K 0.03%
901,996
– –
MKL icon
47
Markel Group
MKL
$23.3B
$788K 0.03%
500
-400
-44% -$621K
EWBC icon
48
East-West Bancorp
EWBC
$17.9B
$740K 0.03%
10,115
-1,050,769
-99% -$77.9M
BUD icon
49
AB InBev
BUD
$170B
$582K 0.03%
10,000
-7,000
-41% -$429K
MLM icon
50
Martin Marietta Materials
MLM
$31.5B
$542K 0.02%
1,000
-1,000
-50% -$581K
1
2
3

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GS
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ISL
Ingalls & Snyder LLC New York $2.83B AUM 21.61% 1-Year Est. Return
AIP
Atlas Infrastructure Partners London, United Kingdom $2.84B AUM 4.75% 1-Year Est. Return
AF
Aviso Financial Toronto, Ontario, Canada $2.82B AUM 24.96% 1-Year Est. Return
SAI
Systematic Alpha Investments Princeton, New Jersey $2.84B AUM 27.03% 1-Year Est. Return
MWM
Meridian Wealth Management Lexington, Kentucky $2.85B AUM 31.23% 1-Year Est. Return
MSDF
Michael & Susan Dell Foundation New York $2.85B AUM 26.28% 1-Year Est. Return
WG
Winton Group London, United Kingdom $2.85B AUM 30.73% 1-Year Est. Return

Ruffer LLP's Q2 2024 Portfolio in Review

As of Q2 2024, Ruffer LLP held 62 positions worth $2.33B, down 10% from $2.6B the previous quarter. Its ten largest holdings account for 67% of the portfolio.

Ruffer LLP withdrew a net $368M in Q2 2024, closing 9 positions and reducing 33 holdings. Its most notable exit was Hess, an estimated $32.2M position sold in full.

By sector, the portfolio is most concentrated in Materials at 30% of assets, down from 33% a quarter earlier, followed by Financials and Healthcare.

Against the trend, Ruffer LLP opened a new position in Shell worth $15.9M.

  • Ruffer LLP's largest Q2 2024 buy was Shell: 220,000 shares worth $15.9M.
  • Ruffer LLP added most to Cigna in Q2 2024, an estimated $59.4M increase.
  • Ruffer LLP's biggest Q2 2024 reduction was Newmont, cutting an estimated $102M.
  • Ruffer LLP fully exited Hess in Q2 2024, selling an estimated $32.2M.
  • Ruffer LLP's ten largest holdings make up 67% of its $2.33B portfolio in Q2 2024.
  • Ruffer LLP opened 2 new positions and closed 9 in Q2 2024.
  • Ruffer LLP's portfolio value fell 10% quarter-over-quarter to $2.33B.

Based on Ruffer LLP's 13F filing for Q2 2024, filed 8 Aug 2024.