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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
+8.33%
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
$2.89B
AUM Growth
+$1.4B
Cap. Flow
+$1.3B
Cap. Flow %
45.04%
Top 10 Hldgs %
49.77%
Holding
106
New
15
Increased
31
Reduced
21
Closed
19

Top Buys

Rank Stock Value
1
TSM icon
TSMC
TSM
+$211M
2
BABA icon
Alibaba
BABA
+$132M
3
AEM icon
Agnico Eagle Mines
AEM
+$111M
4
PXD
Pioneer Natural Resource Co.
PXD
+$108M
5
AA icon
Alcoa
AA
+$96.2M

Top Sells

Rank Stock Value
1
SYF icon
Synchrony
SYF
+$58.2M
2
AXP icon
American Express
AXP
+$49.4M
3
BP icon
BP
BP
+$45.8M
4
BKNG icon
Booking.com
BKNG
+$24M
5
META icon
Meta Platforms (Facebook)
META
+$20.6M

Sector Composition

Rank Sector Weight
1 Materials 35.06%
2 Energy 15.91%
3 Consumer Discretionary 10.16%
4 Technology 10.04%
5 Consumer Staples 8.79%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
TSM icon
1
TSMC
TSM
$2.1T
$218M 7.57%
+2,348,305
New +$211M
ABEV icon
2
Ambev
ABEV
$48.1B
$173M 6%
61,508,434
+18,665,224
+44% +$48.8M
KGC icon
3
Kinross Gold
KGC
$27.4B
$168M 5.81%
35,680,196
+19,001,072
+114% +$80.5M
BABA icon
4
Alibaba
BABA
$293B
$147M 5.1%
1,441,760
+1,321,178
+1,096% +$132M
RYAAY icon
5
Ryanair
RYAAY
$30.4B
$136M 4.7%
3,592,635
+424,000
+13% +$15.7M
NEM icon
6
Newmont
NEM
$98.7B
$134M 4.66%
2,743,104
+1,726,860
+170% +$83.7M
B
7
Barrick Mining
B
$61.5B
$134M 4.65%
7,238,626
+2,343,219
+48% +$42.1M
AEM icon
8
Agnico Eagle Mines
AEM
$73.6B
$123M 4.27%
2,418,520
+2,163,300
+848% +$111M
PXD
9
DELISTED
Pioneer Natural Resource Co.
PXD
$102M 3.55%
+501,377
New +$108M
AMZN icon
10
Amazon
AMZN
$2.92T
$100M 3.47%
970,849
+361,180
+59% +$34.9M
AA icon
11
Alcoa
AA
$11.9B
$84.9M 2.94%
+1,996,243
New +$96.2M
COTY icon
12
Coty
COTY
$2.42B
$74.7M 2.59%
6,194,812
-258,991
-4% -$2.74M
CI icon
13
Cigna
CI
$73.7B
$73.6M 2.55%
288,384
+9,054
+3% +$2.64M
MOS icon
14
The Mosaic Company
MOS
$7.03B
$72.4M 2.51%
+1,578,354
New +$76.4M
NTR icon
15
Nutrien
NTR
$33.2B
$71.1M 2.46%
962,913
+946,333
+5,708% +$73M
JXN icon
16
Jackson Financial
JXN
$8.53B
$55.2M 1.91%
1,476,421
+174,345
+13% +$7.16M
EOG icon
17
EOG Resources
EOG
$79.2B
$53.8M 1.86%
+469,113
New +$56.9M
AU icon
18
AngloGold Ashanti
AU
$40.1B
$53.1M 1.84%
2,197,259
+662,100
+43% +$13.4M
SHEL icon
19
Shell
SHEL
$254B
$53.1M 1.84%
+922,600
New +$54.3M
COP icon
20
ConocoPhillips
COP
$147B
$51.3M 1.78%
+516,652
New +$56.5M
META icon
21
Meta Platforms (Facebook)
META
$1.42T
$48.2M 1.67%
227,289
-121,121
-35% -$20.6M
NOV icon
22
NOV
NOV
$6.93B
$47.9M 1.66%
2,587,875
+2,173,867
+525% +$46.9M
GM icon
23
General Motors
GM
$80.4B
$44.6M 1.54%
1,216,699
+428,018
+54% +$16.2M
PFE icon
24
Pfizer
PFE
$143B
$43.7M 1.51%
1,071,679
+508,764
+90% +$22M
BP icon
25
BP
BP
$116B
$42.7M 1.48%
1,125,000
-1,225,000
-52% -$45.8M
1
2 3 4 5

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AIP
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AF
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SAI
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MWM
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Ruffer LLP's Q1 2023 Portfolio in Review

As of Q1 2023, Ruffer LLP held 106 positions worth $2.89B, up 94% from $1.49B the previous quarter. Its ten largest holdings account for 50% of the portfolio.

Ruffer LLP deployed $1.3B of net new capital in Q1 2023, opening 15 new positions and adding to 31 existing holdings. Its largest new stake was TSMC: 2,348,305 shares worth $218M.

By sector, the portfolio is most concentrated in Materials at 35% of assets, up from 26% a quarter earlier, followed by Energy and Consumer Discretionary.

On the sell side, the largest reduction was Synchrony, an estimated $58.2M trimmed.

  • Ruffer LLP's largest Q1 2023 buy was TSMC: 2,348,305 shares worth $218M.
  • Ruffer LLP added most to Alibaba in Q1 2023, an estimated $132M increase.
  • Ruffer LLP's biggest Q1 2023 reduction was Synchrony, cutting an estimated $58.2M.
  • Ruffer LLP fully exited Booking.com in Q1 2023, selling an estimated $24M.
  • Ruffer LLP's ten largest holdings make up 50% of its $2.89B portfolio in Q1 2023.
  • Ruffer LLP opened 15 new positions and closed 19 in Q1 2023.
  • Ruffer LLP's portfolio value rose 94% quarter-over-quarter to $2.89B.

Based on Ruffer LLP's 13F filing for Q1 2023, filed 11 May 2023.