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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
-6.63%
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
$2.77B
AUM Growth
-$405M
Cap. Flow
-$126M
Cap. Flow %
-4.56%
Top 10 Hldgs %
55.67%
Holding
104
New
48
Increased
20
Reduced
29
Closed
3

Top Buys

Rank Stock Value
1
NEM icon
Newmont
NEM
+$53.1M
2
B
Barrick Mining
B
+$24.1M
3
RYAAY icon
Ryanair
RYAAY
+$18.5M
4
AU icon
AngloGold Ashanti
AU
+$15.7M
5
AMZN icon
Amazon
AMZN
+$14.5M

Top Sells

Rank Stock Value
1
SW
Smurfit Westrock
SW
+$195M
2
BABA icon
Alibaba
BABA
+$96.5M
3
PFE icon
Pfizer
PFE
+$62.9M
4
ABEV icon
Ambev
ABEV
+$50.6M
5
KGC icon
Kinross Gold
KGC
+$33.2M

Sector Composition

Rank Sector Weight
1 Materials 32.15%
2 Financials 15.19%
3 Consumer Discretionary 14.2%
4 Healthcare 11.64%
5 Consumer Staples 7.18%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
NEM icon
1
Newmont
NEM
$98.7B
$264M 9.52%
7,085,101
+1,164,870
+20% +$53.1M
C icon
2
Citigroup
C
$222B
$246M 8.9%
3,501,834
+145,767
+4% +$9.82M
AMZN icon
3
Amazon
AMZN
$2.92T
$190M 6.88%
868,184
+70,834
+9% +$14.5M
CI icon
4
Cigna
CI
$73.7B
$166M 5.99%
601,066
+10,302
+2% +$3.28M
B
5
Barrick Mining
B
$61.5B
$159M 5.75%
10,269,848
+1,325,119
+15% +$24.1M
BABA icon
6
Alibaba
BABA
$293B
$136M 4.93%
1,609,404
-1,021,435
-39% -$96.5M
BAC icon
7
Bank of America
BAC
$435B
$120M 4.33%
2,727,336
+98,420
+4% +$4.33M
PFE icon
8
Pfizer
PFE
$143B
$112M 4.03%
4,206,387
-2,319,901
-36% -$62.9M
DE icon
9
Deere & Co
DE
$160B
$78.8M 2.85%
186,051
+4,200
+2% +$1.77M
KGC icon
10
Kinross Gold
KGC
$27.4B
$68.9M 2.49%
7,427,970
-3,371,979
-31% -$33.2M
TSM icon
11
TSMC
TSM
$2.1T
$65.2M 2.35%
329,971
-106,759
-24% -$20.7M
RYAAY icon
12
Ryanair
RYAAY
$30.4B
$63.6M 2.3%
1,458,141
+413,727
+40% +$18.5M
BP icon
13
BP
BP
$116B
$63.2M 2.28%
2,137,420
-188,270
-8% -$5.66M
AGNC icon
14
AGNC Investment
AGNC
$12.4B
$58.9M 2.13%
6,399,815
-679,061
-10% -$6.62M
ADM icon
15
Archer Daniels Midland
ADM
$38.2B
$58.6M 2.12%
1,159,618
-151,060
-12% -$8.17M
CF icon
16
CF Industries
CF
$19.2B
$48.3M 1.75%
566,458
-80,650
-12% -$6.98M
ABEV icon
17
Ambev
ABEV
$48.1B
$47.7M 1.72%
25,776,672
-22,860,249
-47% -$50.6M
CTVA icon
18
Corteva
CTVA
$52.6B
$44.8M 1.62%
785,918
-119,910
-13% -$7.09M
NTR icon
19
Nutrien
NTR
$33.2B
$44M 1.59%
982,728
-148,590
-13% -$7.05M
MOS icon
20
The Mosaic Company
MOS
$7.03B
$41.4M 1.49%
1,683,588
-262,700
-13% -$6.87M
CGAU
21
Centerra Gold
CGAU
$3.36B
$40.6M 1.47%
7,140,845
-70,000
-1% -$450K
PM icon
22
Philip Morris
PM
$297B
$40.3M 1.46%
335,162
+30,363
+10% +$3.83M
AU icon
23
AngloGold Ashanti
AU
$40.1B
$38.2M 1.38%
1,653,726
+599,266
+57% +$15.7M
SU icon
24
Suncor Energy
SU
$79.4B
$33.6M 1.21%
941,697
+156,496
+20% +$6.02M
XOM icon
25
ExxonMobil
XOM
$644B
$31.1M 1.12%
289,532
-15,958
-5% -$1.87M
1
2 3 4 5

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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
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Ruffer LLP's Q4 2024 Portfolio in Review

As of Q4 2024, Ruffer LLP held 104 positions worth $2.77B, down 13% from $3.17B the previous quarter. Its ten largest holdings account for 56% of the portfolio.

Ruffer LLP withdrew a net $126M in Q4 2024, closing 3 positions and reducing 29 holdings. Its most notable exit was Franco-Nevada, an estimated $9.96M position sold in full.

By sector, the portfolio is most concentrated in Materials at 32% of assets, down from 33% a quarter earlier, followed by Financials and Consumer Discretionary.

Against the trend, Ruffer LLP opened a new position in CoStar Group worth $11.6M.

  • Ruffer LLP's largest Q4 2024 buy was CoStar Group: 162,179 shares worth $11.6M.
  • Ruffer LLP added most to Newmont in Q4 2024, an estimated $53.1M increase.
  • Ruffer LLP's biggest Q4 2024 reduction was Smurfit Westrock, cutting an estimated $195M.
  • Ruffer LLP fully exited Franco-Nevada in Q4 2024, selling an estimated $9.96M.
  • Ruffer LLP's ten largest holdings make up 56% of its $2.77B portfolio in Q4 2024.
  • Ruffer LLP opened 48 new positions and closed 3 in Q4 2024.
  • Ruffer LLP's portfolio value fell 13% quarter-over-quarter to $2.77B.

Based on Ruffer LLP's 13F filing for Q4 2024, filed 7 Feb 2025.