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Ruffer LLP Portfolio holdings
AUM
$2.44B
1-Year Est. Return
44.75%
This Fund
S&P 500
This Quarter
Est. Return
+10.8%
1 Year Est. Return
+44.75%
3 Year Est. Return
+105.9%
5 Year Est. Return
+158.64%
10 Year Est. Return
+642.68%
AUM
$2.26B
AUM Growth
-$337M
(-13%)
Cap. Flow
-$548M
Cap. Flow
% of AUM
-24.25%
Top 10 Holdings %
Top 10 Hldgs %
57.11%
Holding
123
New
29
Increased
24
Reduced
36
Closed
25
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
SW
Smurfit Westrock
SW
|
+$194M |
| 2 |
Alphabet (Google) Class A
GOOGL
|
+$55.1M |
| 3 |
AngloGold Ashanti
AU
|
+$49.4M |
| 4 |
Equinox Gold
EQX
|
+$37.2M |
| 5 |
IQVIA
IQV
|
+$31.3M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Citigroup
C
|
+$169M |
| 2 |
Amazon
AMZN
|
+$114M |
| 3 |
Alibaba
BABA
|
+$103M |
| 4 |
Newmont
NEM
|
+$85.2M |
| 5 |
Cigna
CI
|
+$63.2M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Materials | 38.43% |
| 2 | Consumer Discretionary | 20.74% |
| 3 | Financials | 11.27% |
| 4 | Energy | 7.23% |
| 5 | Healthcare | 6.48% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
26
GE Aerospace
GE
$367B
| $23.7M | 1.05% |
92,175
-7,440
| -7% | -$1.63M |
|
27
Eldorado Gold
EGO
$8.31B
| $22.2M | 0.98% |
1,093,553
+101,456
| +10% | +$1.97M |
|
28
Cheesecake Factory
CAKE
$4.21B
| $18.6M | 0.83% |
297,629
-15,417
| -5% | -$820K |
|
29
Cooper Companies
COO
$13.7B
| $17.6M | 0.78% |
+247,662
| New | +$19M |
|
30
Philip Morris
PM
$301B
| $17.1M | 0.76% |
94,109
-15,888
| -14% | -$2.73M |
|
31
Wheaton Precious Metals
WPM
$50.6B
| $17M | 0.75% |
189,484
-100,260
| -35% | -$8.44M |
|
32
Kinross Gold
KGC
$28.5B
| $14.7M | 0.65% |
940,837
-2,672,979
| -74% | -$38.9M |
|
33
Fox Class A
FOXA
$23.2B
| $12.9M | 0.57% |
230,258
-33,977
| -13% | -$1.79M |
|
34
Arrow Electronics
ARW
$10.9B
| $12.3M | 0.54% |
+96,253
| New | +$11.1M |
|
35
B2Gold
BTG
$5.16B
| $12.3M | 0.54% |
3,395,988
-1,267,552
| -27% | -$4.16M |
|
|
IPG
36
DELISTED
Interpublic Group of Companies
IPG
| $12.2M | 0.54% |
+497,484
| New | +$12.1M |
|
37
TD Synnex
SNX
$19.4B
| $11.7M | 0.52% |
85,976
-14,369
| -14% | -$1.69M |
|
|
AAUC
38
Allied Gold Corp
AAUC
$2.64B
| $10.7M | 0.47% |
+793,940
| New | +$11.2M |
|
39
Gen Digital
GEN
$15.6B
| $10.5M | 0.47% |
+357,900
| New | +$9.78M |
|
40
Pilgrim's Pride
PPC
$6.82B
| $10.2M | 0.45% |
226,137
-2,228
| -1% | -$109K |
|
41
Ovintiv
OVV
$17.5B
| $9.74M | 0.43% |
+256,076
| New | +$9.4M |
|
42
Hewlett Packard
HPE
$63.2B
| $9.01M | 0.4% |
440,760
-224,731
| -34% | -$3.77M |
|
|
CHX
43
DELISTED
ChampionX
CHX
| $8.92M | 0.39% |
359,032
+180,213
| +101% | +$4.54M |
|
44
Match Group
MTCH
$8.84B
| $8.83M | 0.39% |
+285,867
| New | +$8.55M |
|
45
Molson Coors Class B
TAP
$7.68B
| $8.8M | 0.39% |
183,014
-5,697
| -3% | -$314K |
|
46
Noble Corp
NE
$6.9B
| $7.59M | 0.34% |
+285,719
| New | +$6.86M |
|
47
Maximus
MMS
$3.14B
| $7.33M | 0.32% |
104,359
-37,207
| -26% | -$2.61M |
|
48
Merck
MRK
$324B
| $7.2M | 0.32% |
90,932
+205
| +0.2% | +$16.3K |
|
49
BorgWarner
BWA
$13.2B
| $7.15M | 0.32% |
213,507
+35,355
| +20% | +$1.08M |
|
50
H&R Block
HRB
$5.18B
| $6.89M | 0.31% |
125,597
+26,976
| +27% | +$1.56M |
|
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BW
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Ruffer LLP's Q2 2025 Portfolio in Review
As of Q2 2025, Ruffer LLP held 123 positions worth $2.26B, down 13% from $2.6B the previous quarter. Its ten largest holdings account for 57% of the portfolio.
Ruffer LLP withdrew a net $548M in Q2 2025, closing 25 positions and reducing 36 holdings. Its most notable exit was Cigna, an estimated $63.2M position sold in full.
By sector, the portfolio is most concentrated in Materials at 38% of assets, down from 39% a quarter earlier, followed by Consumer Discretionary and Financials.
Against the trend, Ruffer LLP opened a new position in Smurfit Westrock worth $196M.
- Ruffer LLP's largest Q2 2025 buy was Smurfit Westrock: 4,544,710 shares worth $196M.
- Ruffer LLP added most to Equinox Gold in Q2 2025, an estimated $37.2M increase.
- Ruffer LLP's biggest Q2 2025 reduction was Citigroup, cutting an estimated $169M.
- Ruffer LLP fully exited Cigna in Q2 2025, selling an estimated $63.2M.
- Ruffer LLP's ten largest holdings make up 57% of its $2.26B portfolio in Q2 2025.
- Ruffer LLP opened 29 new positions and closed 25 in Q2 2025.
- Ruffer LLP's portfolio value fell 13% quarter-over-quarter to $2.26B.
Based on Ruffer LLP's 13F filing for Q2 2025, filed 16 Jul 2025.