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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
+11.44%
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
$3.17B
AUM Growth
+$845M
Cap. Flow
+$573M
Cap. Flow %
18.07%
Top 10 Hldgs %
61.14%
Holding
62
New
9
Increased
20
Reduced
21
Closed
6

Top Buys

Rank Stock Value
1
SW
Smurfit Westrock
SW
+$175M
2
ADM icon
Archer Daniels Midland
ADM
+$79.9M
3
DE icon
Deere & Co
DE
+$68.6M
4
NTR icon
Nutrien
NTR
+$54.2M
5
MOS icon
The Mosaic Company
MOS
+$53.6M

Top Sells

Rank Stock Value
1
COTY icon
Coty
COTY
+$27.8M
2
TSM icon
TSMC
TSM
+$26.3M
3
RYAAY icon
Ryanair
RYAAY
+$24.8M
4
KGC icon
Kinross Gold
KGC
+$18.8M
5
SHEL icon
Shell
SHEL
+$15.9M

Sector Composition

Rank Sector Weight
1 Materials 32.91%
2 Consumer Discretionary 19.95%
3 Healthcare 12.4%
4 Financials 12.03%
5 Consumer Staples 8.47%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
SU icon
26
Suncor Energy
SU
$79.4B
$29M 0.91%
785,201
-2,200
-0.3% -$85K
AU icon
27
AngloGold Ashanti
AU
$40.1B
$28.1M 0.88%
1,054,460
+882,805
+514% +$25.3M
MTB icon
28
M&T Bank
MTB
$35.7B
$24.8M 0.78%
139,255
-13,220
-9% -$2.19M
GAU
29
Galiano Gold
GAU
$455M
$24.8M 0.78%
17,599,962
+259,000
+1% +$413K
PAAS icon
30
Pan American Silver
PAAS
$18.2B
$24.4M 0.77%
1,168,791
+40,986
+4% +$864K
ARIS
31
Aris Mining
ARIS
$2.76B
$22.5M 0.71%
4,935,800
-210,000
-4% -$923K
AEM icon
32
Agnico Eagle Mines
AEM
$73.6B
$22M 0.69%
273,107
-30,973
-10% -$2.4M
GE icon
33
GE Aerospace
GE
$374B
$20.2M 0.64%
106,982
-89,040
-45% -$15.1M
PNC icon
34
PNC Financial Services
PNC
$99.7B
$18.3M 0.58%
98,730
-34,220
-26% -$6M
SKE
35
Skeena Resources
SKE
$3.3B
$17.7M 0.56%
2,079,770
-478,400
-19% -$3.46M
BRK.B icon
36
Berkshire Hathaway Class B
BRK.B
$1.1T
$15.4M 0.48%
33,390
-1,500
-4% -$663K
WPM icon
37
Wheaton Precious Metals
WPM
$49.5B
$13.6M 0.43%
221,949
-998
-0.4% -$59.4K
STLA icon
38
Stellantis
STLA
$21.7B
$12.4M 0.39%
+898,300
New +$15.3M
BTG icon
39
B2Gold
BTG
$5B
$11.3M 0.36%
3,647,676
-150,000
-4% -$436K
NE icon
40
Noble Corp
NE
$6.77B
$10.7M 0.34%
296,851
-600
-0.2% -$24.2K
FNV icon
41
Franco-Nevada
FNV
$41.1B
$9.96M 0.31%
+80,500
New +$9.97M
TS icon
42
Tenaris
TS
$28.9B
$7.13M 0.22%
224,336
-1,885
-0.8% -$55.9K
BN icon
43
Brookfield
BN
$104B
$5.53M 0.17%
156,000
-9,000
-5% -$284K
GFI icon
44
Gold Fields
GFI
$29B
$3.1M 0.1%
202,198
-205,194
-50% -$3.17M
FMX icon
45
Fomento Económico Mexicano
FMX
$43.6B
$2.37M 0.07%
24,000
– –
JPM icon
46
JPMorgan Chase
JPM
$935B
$2.08M 0.07%
9,850
-10,415
-51% -$2.19M
BUD icon
47
AB InBev
BUD
$170B
$1.99M 0.06%
30,000
+20,000
+200% +$1.23M
CVX icon
48
Chevron
CVX
$392B
$1.62M 0.05%
11,000
– –
ITRG
49
Integra Resources
ITRG
$424M
$1.62M 0.05%
1,646,053
+692,222
+73% +$652K
ALB icon
50
Albemarle
ALB
$13.9B
$1.46M 0.05%
15,400
– –
1
2
3

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GS
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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
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 Q3 2024 Portfolio in Review

As of Q3 2024, Ruffer LLP held 62 positions worth $3.17B, up 36% from $2.33B the previous quarter. Its ten largest holdings account for 61% of the portfolio.

Ruffer LLP deployed $573M of net new capital in Q3 2024, opening 9 new positions and adding to 20 existing holdings. Its largest new stake was Smurfit Westrock: 3,839,068 shares worth $192M.

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

On the sell side, the largest reduction was Coty, an estimated $27.8M trimmed.

  • Ruffer LLP's largest Q3 2024 buy was Smurfit Westrock: 3,839,068 shares worth $192M.
  • Ruffer LLP added most to Nutrien in Q3 2024, an estimated $54.2M increase.
  • Ruffer LLP's biggest Q3 2024 reduction was Coty, cutting an estimated $27.8M.
  • Ruffer LLP fully exited Shell in Q3 2024, selling an estimated $15.9M.
  • Ruffer LLP's ten largest holdings make up 61% of its $3.17B portfolio in Q3 2024.
  • Ruffer LLP opened 9 new positions and closed 6 in Q3 2024.
  • Ruffer LLP's portfolio value rose 36% quarter-over-quarter to $3.17B.

Based on Ruffer LLP's 13F filing for Q3 2024, filed 8 Nov 2024.