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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
+24.49%
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
$1.8B
AUM Growth
-$461M
(-20%)
Cap. Flow
-$868M
Cap. Flow
% of AUM
-48.26%
Top 10 Holdings %
Top 10 Hldgs %
46.44%
Holding
130
New
32
Increased
18
Reduced
42
Closed
29
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
Cooper Companies
COO
|
+$77.9M |
| 2 |
Extra Space Storage
EXR
|
+$48.4M |
| 3 |
First Solar
FSLR
|
+$30.1M |
| 4 |
Merck
MRK
|
+$22.9M |
| 5 |
Teck Resources
TECK
|
+$18.3M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Newmont
NEM
|
+$287M |
| 2 |
B
Barrick Mining
B
|
+$188M |
| 3 |
SW
Smurfit Westrock
SW
|
+$170M |
| 4 |
Citigroup
C
|
+$88M |
| 5 |
Alphabet (Google) Class A
GOOGL
|
+$65.9M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Materials | 32.58% |
| 2 | Healthcare | 17.01% |
| 3 | Consumer Discretionary | 16.29% |
| 4 | Energy | 9.5% |
| 5 | Financials | 8.89% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
1
Amazon
AMZN
$2.92T
| $148M | 8.21% |
672,796
-57,669
| -8% | -$13.1M |
|
2
Equinox Gold
EQX
$7.06B
| $97M | 5.39% |
8,651,889
+1,152,288
| +15% | +$9.17M |
|
3
Bank of America
BAC
$435B
| $96.6M | 5.37% |
1,871,642
-1,012,107
| -35% | -$49.4M |
|
|
4
Cooper Companies
COO
$14.1B
| $92.4M | 5.14% |
1,347,850
+1,100,188
| +444% | +$77.9M |
|
5
BP
BP
$116B
| $79.1M | 4.4% |
2,294,780
+450
| +0% | +$15.1K |
|
|
6
Newmont
NEM
$98.7B
| $74.5M | 4.14% |
884,017
-4,115,915
| -82% | -$287M |
|
7
Alibaba
BABA
$293B
| $68.8M | 3.82% |
384,886
+42,214
| +12% | +$5.53M |
|
|
CGAU
8
Centerra Gold
CGAU
$3.36B
| $63.3M | 3.52% |
5,904,103
-1,249,206
| -17% | -$9.96M |
|
|
B
9
Barrick Mining
B
$61.5B
| $59M | 3.28% |
1,800,635
-7,415,469
| -80% | -$188M |
|
10
TSMC
TSM
$2.1T
| $57.1M | 3.17% |
204,387
+73,676
| +56% | +$18M |
|
11
Pfizer
PFE
$143B
| $51.5M | 2.87% |
2,023,065
+623,552
| +45% | +$15.4M |
|
|
12
Extra Space Storage
EXR
$31.3B
| $47.5M | 2.64% |
+336,942
| New | +$48.4M |
|
13
AngloGold Ashanti
AU
$40.1B
| $41.6M | 2.31% |
590,963
-556,005
| -48% | -$31.1M |
|
14
Eldorado Gold
EGO
$7.87B
| $40.8M | 2.27% |
1,412,740
+319,187
| +29% | +$7.51M |
|
|
ARIS
15
Aris Mining
ARIS
$2.76B
| $40.3M | 2.24% |
4,114,728
-1,124,520
| -21% | -$8.97M |
|
16
Suncor Energy
SU
$79.4B
| $39.1M | 2.18% |
935,037
+5,780
| +0.6% | +$232K |
|
|
GAU
17
Galiano Gold
GAU
$455M
| $36.2M | 2.01% |
16,611,028
-2,332,224
| -12% | -$4.35M |
|
18
Pan American Silver
PAAS
$18.2B
| $34.9M | 1.94% |
901,751
-11,578
| -1% | -$372K |
|
|
19
First Solar
FSLR
$22.7B
| $34.6M | 1.93% |
+157,055
| New | +$30.1M |
|
|
SW
20
Smurfit Westrock
SW
$24.1B
| $33.4M | 1.86% |
785,589
-3,759,121
| -83% | -$170M |
|
21
ExxonMobil
XOM
$644B
| $31.4M | 1.74% |
278,242
+1,525
| +0.6% | +$170K |
|
|
22
Merck
MRK
$322B
| $31M | 1.72% |
368,848
+277,916
| +306% | +$22.9M |
|
23
GE Aerospace
GE
$374B
| $30.2M | 1.68% |
100,365
+8,190
| +9% | +$2.24M |
|
24
PNC Financial Services
PNC
$99.7B
| $26.5M | 1.47% |
131,909
+1,290
| +1% | +$255K |
|
|
SKE
25
Skeena Resources
SKE
$3.3B
| $23.4M | 1.3% |
1,270,055
-241,600
| -16% | -$3.95M |
|
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SAI
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WG
Ruffer LLP's Q3 2025 Portfolio in Review
As of Q3 2025, Ruffer LLP held 130 positions worth $1.8B, down 20% from $2.26B the previous quarter. Its ten largest holdings account for 46% of the portfolio.
Ruffer LLP withdrew a net $868M in Q3 2025, closing 29 positions and reducing 42 holdings. Its most notable exit was Coeur Mining, an estimated $32.3M position sold in full.
By sector, the portfolio is most concentrated in Materials at 33% of assets, down from 38% a quarter earlier, followed by Healthcare and Consumer Discretionary.
Against the trend, Ruffer LLP opened a new position in Extra Space Storage worth $47.5M.
- Ruffer LLP's largest Q3 2025 buy was Extra Space Storage: 336,942 shares worth $47.5M.
- Ruffer LLP added most to Cooper Companies in Q3 2025, an estimated $77.9M increase.
- Ruffer LLP's biggest Q3 2025 reduction was Newmont, cutting an estimated $287M.
- Ruffer LLP fully exited Coeur Mining in Q3 2025, selling an estimated $32.3M.
- Ruffer LLP's ten largest holdings make up 46% of its $1.8B portfolio in Q3 2025.
- Ruffer LLP opened 32 new positions and closed 29 in Q3 2025.
- Ruffer LLP's portfolio value fell 20% quarter-over-quarter to $1.8B.
Based on Ruffer LLP's 13F filing for Q3 2025, filed 3 Nov 2025.