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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 | |
|---|---|---|---|---|---|---|
101
Academy Sports + Outdoors
ASO
$2.89B
| – | – |
-76,637
| Closed | -$3.5M |
|
102
Avnet
AVT
$7.33B
| – | – |
-65,133
| Closed | -$3.13M |
|
103
Blue Bird Corp
BLBD
$2.41B
| – | – |
-79,018
| Closed | -$2.56M |
|
104
CACI
CACI
$10.8B
| – | – |
-21,658
| Closed | -$7.95M |
|
105
CF Industries
CF
$19.2B
| – | – |
-454,018
| Closed | -$35.5M |
|
|
106
Cigna
CI
$76.6B
| – | – |
-192,000
| Closed | -$63.2M |
|
107
Coty
COTY
$2.33B
| – | – |
-2,405,843
| Closed | -$13.2M |
|
108
Crocs
CROX
$6.69B
| – | – |
-26,406
| Closed | -$2.8M |
|
109
CoStar Group
CSGP
$11.3B
| – | – |
-270,412
| Closed | -$21.4M |
|
|
CTRA
110
DELISTED
Coterra Energy
CTRA
| – | – |
-235,701
| Closed | -$6.81M |
|
111
Corteva
CTVA
$59.7B
| – | – |
-629,548
| Closed | -$39.6M |
|
112
Deere & Co
DE
$170B
| – | – |
-112,511
| Closed | -$52.8M |
|
113
Fidelity National Information Services
FIS
$21.5B
| – | – |
-167,077
| Closed | -$12.5M |
|
114
General Motors
GM
$74.7B
| – | – |
-91,281
| Closed | -$4.29M |
|
115
Korn Ferry
KFY
$3.98B
| – | – |
-99,283
| Closed | -$6.73M |
|
116
Cheniere Energy
LNG
$56.5B
| – | – |
-41,799
| Closed | -$9.67M |
|
117
Mattel
MAT
$4.17B
| – | – |
-275,609
| Closed | -$5.35M |
|
118
Magnolia Oil & Gas
MGY
$5.83B
| – | – |
-260,373
| Closed | -$6.58M |
|
119
The Mosaic Company
MOS
$7.09B
| – | – |
-1,381,628
| Closed | -$37.3M |
|
120
Nutrien
NTR
$32.7B
| – | – |
-753,298
| Closed | -$37.4M |
|
|
PR
121
Permian Resources
PR
$17.9B
| – | – |
-358,620
| Closed | -$4.97M |
|
122
Patterson-UTI
PTEN
$3.87B
| – | – |
-520,448
| Closed | -$4.28M |
|
|
X
123
DELISTED
US Steel
X
| – | – |
-1,046,043
| Closed | -$44.2M |
|
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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.