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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
NEM icon
1
Newmont
NEM
$98.7B
$318M 12.26%
6,596,949
-488,152
-7% -$21.4M
AMZN icon
2
Amazon
AMZN
$2.92T
$248M 9.57%
1,305,979
+437,795
+50% +$95M
C icon
3
Citigroup
C
$222B
$233M 8.98%
3,286,401
-215,433
-6% -$16.4M
B
4
Barrick Mining
B
$61.5B
$203M 7.8%
10,426,795
+156,947
+2% +$2.75M
BABA icon
5
Alibaba
BABA
$293B
$160M 6.16%
1,210,409
-398,995
-25% -$46M
BAC icon
6
Bank of America
BAC
$435B
$92.4M 3.56%
2,214,789
-512,547
-19% -$22.8M
BP icon
7
BP
BP
$116B
$82.4M 3.17%
2,439,040
+301,620
+14% +$9.84M
CI icon
8
Cigna
CI
$73.7B
$63.2M 2.43%
192,000
-409,066
-68% -$123M
RYAAY icon
9
Ryanair
RYAAY
$30.4B
$56M 2.16%
1,322,779
-135,362
-9% -$6.18M
PFE icon
10
Pfizer
PFE
$143B
$55.6M 2.14%
2,192,298
-2,014,089
-48% -$52.7M
DE icon
11
Deere & Co
DE
$160B
$52.8M 2.03%
112,511
-73,540
-40% -$34.4M
ADM icon
12
Archer Daniels Midland
ADM
$38.2B
$48.4M 1.86%
1,008,738
-150,880
-13% -$7.3M
KGC icon
13
Kinross Gold
KGC
$27.4B
$45.6M 1.75%
3,613,816
-3,814,154
-51% -$42.8M
TSM icon
14
TSMC
TSM
$2.1T
$45.3M 1.74%
272,911
-57,060
-17% -$11.1M
CGAU
15
Centerra Gold
CGAU
$3.36B
$45M 1.73%
7,089,239
-51,606
-0.7% -$315K
X
16
DELISTED
US Steel
X
$44.2M 1.7%
+1,046,043
New +$39.6M
CTVA icon
17
Corteva
CTVA
$52.6B
$39.6M 1.53%
629,548
-156,370
-20% -$9.67M
SU icon
18
Suncor Energy
SU
$79.4B
$37.7M 1.45%
973,447
+31,750
+3% +$1.21M
NTR icon
19
Nutrien
NTR
$33.2B
$37.4M 1.44%
753,298
-229,430
-23% -$11.7M
MOS icon
20
The Mosaic Company
MOS
$7.03B
$37.3M 1.44%
1,381,628
-301,960
-18% -$7.99M
CF icon
21
CF Industries
CF
$19.2B
$35.5M 1.37%
454,018
-112,440
-20% -$9.43M
XOM icon
22
ExxonMobil
XOM
$644B
$29.2M 1.13%
245,930
-43,602
-15% -$4.82M
ARIS
23
Aris Mining
ARIS
$2.76B
$26.2M 1.01%
5,666,748
-20,525
-0.4% -$81.6K
PAAS icon
24
Pan American Silver
PAAS
$18.2B
$25.3M 0.97%
980,044
-104,472
-10% -$2.5M
GAU
25
Galiano Gold
GAU
$455M
$23.3M 0.9%
18,943,252
+504,990
+3% +$621K
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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MSDF
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WG
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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.