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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 | |
|---|---|---|---|---|---|---|
76
Endava
DAVA
$141M
| $3.2M | 0.14% |
209,187
+78,870
| +61% | +$1.33M |
|
77
United Therapeutics
UTHR
$26.3B
| $3.09M | 0.14% |
10,763
-3,611
| -25% | -$1.08M |
|
78
AB InBev
BUD
$158B
| $3.09M | 0.14% |
45,000
| – | – |
|
79
Griffon
GFF
$4.16B
| $2.99M | 0.13% |
41,320
+2,266
| +6% | +$158K |
|
80
Harmony Biosciences
HRMY
$2.04B
| $2.72M | 0.12% |
+86,211
| New | +$2.77M |
|
81
Agnico Eagle Mines
AEM
$72.6B
| $2.7M | 0.12% |
22,679
-68,218
| -75% | -$7.92M |
|
82
Comcast
CMCSA
$79.1B
| $2.67M | 0.12% |
+74,875
| New | +$2.59M |
|
83
M&T Bank
MTB
$36.2B
| $2.53M | 0.11% |
13,020
+470
| +4% | +$82.9K |
|
84
Halozyme
HALO
$9.72B
| $2.26M | 0.1% |
43,428
-6,986
| -14% | -$398K |
|
85
Tenaris
TS
$29.1B
| $2.22M | 0.1% |
59,349
| – | – |
|
86
JPMorgan Chase
JPM
$939B
| $2.03M | 0.09% |
7,000
| – | – |
|
|
SAND
87
DELISTED
Sandstorm Gold
SAND
| $1.97M | 0.09% |
210,090
-892,860
| -81% | -$7.64M |
|
88
IAMGOLD
IAG
$8.47B
| $1.9M | 0.08% |
+258,300
| New | +$1.81M |
|
89
NovaGold Resources
NG
$2.6B
| $1.73M | 0.08% |
+423,670
| New | +$1.59M |
|
90
Axcelis
ACLS
$4.12B
| $1.72M | 0.08% |
+24,731
| New | +$1.41M |
|
91
Chevron
CVX
$388B
| $1.58M | 0.07% |
11,000
| – | – |
|
92
Best Buy
BBY
$18B
| $1.37M | 0.06% |
+20,407
| New | +$1.39M |
|
93
Arcos Dorados Holdings
ARCO
$1.73B
| $1M | 0.04% |
+127,142
| New | +$962K |
|
94
Fluor
FLR
$7.29B
| $953K | 0.04% |
18,590
+12,013
| +183% | +$479K |
|
95
Fomento Económico Mexicano
FMX
$43.3B
| $824K | 0.04% |
8,000
| – | – |
|
|
GLDG
96
GoldMining Inc
GLDG
$179M
| $650K | 0.03% |
901,996
| – | – |
|
97
Wells Fargo
WFC
$261B
| $401K | 0.02% |
5,000
| – | – |
|
98
East-West Bancorp
EWBC
$17.9B
| $393K | 0.02% |
3,890
-7,310
| -65% | -$648K |
|
99
AGNC Investment
AGNC
$12.3B
| – | – |
-1,685,570
| Closed | -$16.1M |
|
100
Abercrombie & Fitch
ANF
$4.17B
| – | – |
-26,830
| Closed | -$2.05M |
|
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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.