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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
+12.31%
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
$2.6B
AUM Growth
-$171M
Cap. Flow
-$426M
Cap. Flow %
-16.41%
Top 10 Hldgs %
58.23%
Holding
126
New
25
Increased
31
Reduced
33
Closed
32

Top Buys

Rank Stock Value
1
AMZN icon
Amazon
AMZN
+$95M
2
X
US Steel
X
+$39.6M
3
CDE icon
Coeur Mining
CDE
+$18.4M
4
EGO icon
Eldorado Gold
EGO
+$14.9M
5
FIS icon
Fidelity National Information Services
FIS
+$12.6M

Top Sells

Rank Stock Value
1
CI icon
Cigna
CI
+$123M
2
PFE icon
Pfizer
PFE
+$52.7M
3
ABEV icon
Ambev
ABEV
+$47.7M
4
AGNC icon
AGNC Investment
AGNC
+$47.1M
5
BABA icon
Alibaba
BABA
+$46M

Sector Composition

Rank Sector Weight
1 Materials 39.01%
2 Consumer Discretionary 18.23%
3 Financials 13.85%
4 Energy 7.36%
5 Industrials 6.34%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
AVT icon
76
Avnet
AVT
$7.29B
$3.13M 0.12%
+65,133
New +$3.3M
BN icon
77
Brookfield
BN
$104B
$2.96M 0.11%
84,750
-56,250
-40% -$2.13M
POWL icon
78
Powell Industries
POWL
$7.6B
$2.86M 0.11%
+50,427
New +$3.51M
CROX icon
79
Crocs
CROX
$6.14B
$2.8M 0.11%
+26,406
New +$2.74M
GFF icon
80
Griffon
GFF
$3.95B
$2.79M 0.11%
+39,054
New +$2.88M
BUD icon
81
AB InBev
BUD
$170B
$2.77M 0.11%
45,000
– –
BLBD icon
82
Blue Bird Corp
BLBD
$2.35B
$2.56M 0.1%
79,018
+6,789
+9% +$248K
DAVA icon
83
Endava
DAVA
$158M
$2.54M 0.1%
130,317
+105,000
+415% +$2.91M
TS icon
84
Tenaris
TS
$28.9B
$2.32M 0.09%
59,349
-114,317
-66% -$4.39M
MTB icon
85
M&T Bank
MTB
$35.7B
$2.24M 0.09%
12,550
-60,442
-83% -$11.5M
ANF icon
86
Abercrombie & Fitch
ANF
$4.42B
$2.05M 0.08%
+26,830
New +$2.89M
CVX icon
87
Chevron
CVX
$392B
$1.84M 0.07%
11,000
– –
JPM icon
88
JPMorgan Chase
JPM
$935B
$1.72M 0.07%
7,000
-1,520
-18% -$388K
EWBC icon
89
East-West Bancorp
EWBC
$17.9B
$1.01M 0.04%
11,200
-1,080
-9% -$103K
FMX icon
90
Fomento Económico Mexicano
FMX
$43.6B
$781K 0.03%
8,000
– –
GLDG
91
GoldMining Inc
GLDG
$178M
$752K 0.03%
901,996
– –
WFC icon
92
Wells Fargo
WFC
$261B
$359K 0.01%
5,000
– –
OSK icon
93
Oshkosh
OSK
$8.79B
$260K 0.01%
+2,759
New +$276K
FLR icon
94
Fluor
FLR
$7.01B
$236K 0.01%
+6,577
New +$284K
ABEV icon
95
Ambev
ABEV
$48.1B
– –
-25,776,672
Closed -$47.7M
AMR icon
96
Alpha Metallurgical Resources
AMR
$1.74B
– –
-20,485
Closed -$4.1M
ARCO icon
97
Arcos Dorados Holdings
ARCO
$1.72B
– –
-127,142
Closed -$926K
ATKR icon
98
Atkore
ATKR
$2.46B
– –
-48,660
Closed -$4.06M
AU icon
99
AngloGold Ashanti
AU
$40.1B
– –
-1,653,726
Closed -$38.2M
BBY icon
100
Best Buy
BBY
$18.2B
– –
-44,367
Closed -$3.81M
2 3
4
5 6

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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 Q1 2025 Portfolio in Review

As of Q1 2025, Ruffer LLP held 126 positions worth $2.6B, down 6.2% from $2.77B the previous quarter. Its ten largest holdings account for 58% of the portfolio.

Ruffer LLP withdrew a net $426M in Q1 2025, closing 32 positions and reducing 33 holdings. Its most notable exit was Ambev, an estimated $47.7M position sold in full.

By sector, the portfolio is most concentrated in Materials at 39% of assets, up from 32% a quarter earlier, followed by Consumer Discretionary and Financials.

Against the trend, Ruffer LLP opened a new position in US Steel worth $44.2M.

  • Ruffer LLP's largest Q1 2025 buy was US Steel: 1,046,043 shares worth $44.2M.
  • Ruffer LLP added most to Amazon in Q1 2025, an estimated $95M increase.
  • Ruffer LLP's biggest Q1 2025 reduction was Cigna, cutting an estimated $123M.
  • Ruffer LLP fully exited Ambev in Q1 2025, selling an estimated $47.7M.
  • Ruffer LLP's ten largest holdings make up 58% of its $2.6B portfolio in Q1 2025.
  • Ruffer LLP opened 25 new positions and closed 32 in Q1 2025.
  • Ruffer LLP's portfolio value fell 6.2% quarter-over-quarter to $2.6B.

Based on Ruffer LLP's 13F filing for Q1 2025, filed 9 May 2025.