2026 Q2 Portfolio Activity
In 2026 Q2, Ruffer LLP maintained a portfolio of 218 distinct positions. The most significant new addition was NETEASE COM INC, now representing 2.21% of the total fund value. They heavily accumulated shares in AMAZON COM INC, increasing the position by 47.7%. The fund also reduced its exposure to COINBASE GLOBAL INC by 65.3%.
Position History
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Total Positions
218
Quarter
2026 Q2
Top Holding
AMZN (7.0%)
Top 10 Concentration
35.6%
Turnover Rate
23.4%
Sector HHI
0.18
Items per page:
Showing 1-50 of 218
Ruffer LLP Full Holdings List — 2026 Q2
| Stock | History | Sector / Type | Port % | Prev % | Rank / Prev | Conviction | Change | % Change | Influence | Shares | Mkt Value | Avg Cost | Price Held | 1st Owned | Source | Source Date | Date Reported | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
|
AMZN
AMAZON COM INC
|
Consumer Cyclical | 6.98% | 4.80% |
#1
2
Prev: #3
|
7.3 |
—
|
267,591 | 47.7% |
P
S
|
829,118 | $197,388,950 | 2022 Q3 | 13F Filing | 2026-06-30 | 2026-07-30 | |||
|
MSFT
MICROSOFT CORP
|
Technology | 5.99% | 4.76% |
#2
2
Prev: #4
|
6.4 |
—
|
141,427 | 45.1% |
P
S
|
454,873 | $169,486,097 | 2007 Q4 | 13F Filing | 2026-06-30 | 2026-07-30 | |||
|
BABA
ALIBABA GROUP H...
|
Consumer Cyclical | 4.29% | 6.03% |
#3
1
Prev: #2
|
4.7 |
—
|
93,840 | 8.0% |
P
S
|
1,265,069 | $121,289,347 | 2017 Q2 | 13F Filing | 2026-06-30 | 2026-07-30 | |||
|
SW
SMURFIT WESTROC...
|
Consumer Cyclical | 3.98% | 4.56% |
#4
1
Prev: #5
|
2.6 |
—
|
-347,308 | -12.5% |
P
S
|
2,438,889 | $112,695,934 | 2024 Q3 | 13F Filing | 2026-06-30 | 2026-07-30 | |||
|
BAC
BANK AMERICA CO...
|
Financial Services | 2.62% | 2.63% |
#5
5
Prev: #10
|
2.0 |
—
|
-11,658 | -0.9% |
P
S
|
1,304,202 | $74,230,830 | 2007 Q4 | 13F Filing | 2026-06-30 | 2026-07-30 | |||
|
FND
FLOOR & DECOR H...
|
Consumer Cyclical | 2.59% | 2.29% |
#6
7
Prev: #13
|
3.0 |
—
|
134,765 | 12.2% |
P
S
|
1,235,490 | $73,257,578 | 2025 Q4 | 13F Filing | 2026-06-30 | 2026-07-30 | |||
|
COIN
COINBASE GLOBAL...
|
Financial Services | 2.58% | 10.29% |
#7
6
Prev: #1
|
1.0 |
—
|
-936,990 | -65.3% |
P
S
|
499,000 | $72,868,865 | 2025 Q4 | 13F Filing | 2026-06-30 | 2026-07-30 | |||
|
NTES
NETEASE COM INC
|
Communication Services | 2.21% | — |
#8
Prev: #—
|
4.4 |
—
|
487,913 | — |
NEW
|
487,913 | $62,452,868 | 2026 Q2 | 13F Filing | 2026-06-30 | 2026-07-30 | |||
|
SLB
SLB LIMITED
|
Energy | 2.20% | 3.25% |
#9
2
Prev: #7
|
1.4 |
—
|
-200,552 | -13.0% |
P
S
|
1,341,534 | $62,298,723 | 2007 Q4 | 13F Filing | 2026-06-30 | 2026-07-30 | |||
|
BP
BP PLC
|
Energy | 2.12% | 4.05% |
#10
4
Prev: #6
|
0.8 |
—
|
-473,066 | -22.5% |
P
S
|
1,624,940 | $59,975,939 | 2007 Q4 | 13F Filing | 2026-06-30 | 2026-07-30 | |||
|
SOLV
SOLVENTUM CORP
|
Healthcare | 2.12% | 2.30% |
#11
1
Prev: #12
|
1.3 |
—
|
-83,525 | -9.7% |
P
S
|
776,468 | $59,838,399 | 2025 Q3 | 13F Filing | 2026-06-30 | 2026-07-30 | |||
|
SU
SUNCOR ENERGY I...
|
Energy | 1.92% | 2.72% |
#12
3
Prev: #9
|
1.3 |
—
|
5,684 | 0.6% |
P
S
|
1,009,746 | $54,237,446 | 2007 Q4 | 13F Filing | 2026-06-30 | 2026-07-30 | |||
|
LAMR
LAMAR ADVERTISI...
|
Real Estate | 1.86% | 1.76% |
#13
2
Prev: #15
|
1.2 |
—
|
-283 | -0.1% |
P
S
|
338,207 | $52,696,062 | 2025 Q4 | 13F Filing | 2026-06-30 | 2026-07-30 | |||
|
BF/B
BROWN FORMAN CO...
|
Consumer Defensive | 1.82% | 2.96% |
#14
6
Prev: #8
|
0.7 |
—
|
-799,920 | -29.3% |
P
S
|
1,931,956 | $51,428,246 | 2026 Q1 | 13F Filing | 2026-06-30 | 2026-07-30 | |||
|
YMM
FULL TRUCK ALLI...
|
Technology | 1.64% | — |
#15
Prev: #—
|
4.2 |
—
|
5,724,180 | — |
NEW
|
5,724,180 | $46,426,618 | 2026 Q2 | 13F Filing | 2026-06-30 | 2026-07-30 | |||
|
EQX
EQUINOX GOLD CO...
|
Basic Materials | 1.63% | 2.44% |
#16
5
Prev: #11
|
2.7 |
—
|
609,593 | 14.8% |
P
S
|
4,736,428 | $46,049,395 | 2020 Q1 | 13F Filing | 2026-06-30 | 2026-07-30 | |||
|
XOM
EXXON MOBIL COR...
|
Energy | 1.52% | 2.24% |
#17
3
Prev: #14
|
1.1 |
—
|
-7,482 | -2.3% |
P
S
|
314,224 | $42,907,632 | 2007 Q4 | 13F Filing | 2026-06-30 | 2026-07-30 | |||
|
TCOM
TRIP COM GROUP ...
|
Consumer Cyclical | 1.51% | — |
#18
Prev: #—
|
4.1 |
—
|
1,075,096 | — |
NEW
|
1,075,096 | $42,784,562 | 2026 Q2 | 13F Filing | 2026-06-30 | 2026-07-30 | |||
|
JD
JD.COM INC
|
Consumer Cyclical | 1.38% | — |
#19
Prev: #—
|
4.1 |
—
|
1,537,181 | — |
NEW
|
1,537,181 | $39,124,582 | 2026 Q2 | 13F Filing | 2026-06-30 | 2026-07-30 | |||
|
BKNG
BOOKING HOLDING...
|
Consumer Cyclical | 1.36% | 1.06% |
#20
5
Prev: #25
|
3.5 |
—
|
209,849 | 3413.8% |
P
S
|
215,996 | $38,456,802 | 2020 Q1 | 13F Filing | 2026-06-30 | 2026-07-30 | |||
|
EXE
EXPAND ENERGY C...
|
Energy | 1.35% | — |
#21
Prev: #—
|
4.0 |
—
|
420,557 | — |
NEW
|
420,557 | $38,307,137 | 2021 Q1 | 13F Filing | 2026-06-30 | 2026-07-30 | |||
|
SPGI
S&P GLOBAL INC
|
Financial Services | 1.35% | — |
#22
Prev: #—
|
4.0 |
—
|
93,768 | — |
NEW
|
93,768 | $38,143,110 | 2026 Q2 | 13F Filing | 2026-06-30 | 2026-07-30 | |||
|
UNP
UNION PAC CORP
|
Industrials | 1.35% | 1.68% |
#23
7
Prev: #16
|
1.0 |
—
|
-29,237 | -17.3% |
P
S
|
140,019 | $38,041,885 | 2025 Q4 | 13F Filing | 2026-06-30 | 2026-07-30 | |||
|
TTFNF
TOTALENERGIES S...
|
Unknown | 1.30% | — |
#24
Prev: #—
|
4.0 |
—
|
474,930 | — |
NEW
|
474,930 | $36,898,470 | 2026 Q2 | 13F Filing | 2026-06-30 | 2026-07-30 | |||
|
BRK/B
BERKSHIRE HATHA...
|
Financial Services | 1.29% | 0.18% |
#25
53
Prev: #78
|
3.5 |
—
|
63,990 | 711.0% |
P
S
|
72,990 | $36,482,877 | 2014 Q1 | 13F Filing | 2026-06-30 | 2026-07-30 | |||
|
PNC
PNC FINL SVCS G...
|
Financial Services | 1.27% | 1.26% |
#26
3
Prev: #23
|
1.0 |
—
|
-1,910 | -1.3% |
P
S
|
145,485 | $35,780,752 | 2023 Q1 | 13F Filing | 2026-06-30 | 2026-07-30 | |||
|
CP
CANADIAN PACIFI...
|
Industrials | 1.18% | 1.21% |
#27
3
Prev: #24
|
1.0 |
—
|
11,640 | 3.1% |
P
S
|
386,182 | $33,425,242 | 2025 Q4 | 13F Filing | 2026-06-30 | 2026-07-30 | |||
|
SCHW
SCHWAB CHARLES ...
|
Financial Services | 1.17% | — |
#28
Prev: #—
|
4.0 |
—
|
358,432 | — |
NEW
|
358,432 | $33,035,083 | 2020 Q2 | 13F Filing | 2026-06-30 | 2026-07-30 | |||
|
VIST
VISTA ENERGY S....
|
Energy | 1.17% | 1.65% |
#29
12
Prev: #17
|
1.0 |
—
|
-14,719 | -2.8% |
P
S
|
518,201 | $33,024,860 | 2025 Q4 | 13F Filing | 2026-06-30 | 2026-07-30 | |||
|
SIG
SIGNET JEWELERS...
|
Consumer Cyclical | 1.10% | 0.79% |
#30
1
Prev: #29
|
3.4 |
—
|
132,643 | 58.3% |
P
S
|
360,278 | $31,022,035 | 2025 Q4 | 13F Filing | 2026-06-30 | 2026-07-30 | |||
|
EXP
EAGLE MATLS INC
|
Basic Materials | 1.05% | 0.08% |
#31
116
Prev: #147
|
3.4 |
—
|
121,317 | 1138.0% |
P
S
|
131,978 | $29,662,176 | 2018 Q3 | 13F Filing | 2026-06-30 | 2026-07-30 | |||
|
PFE
PFIZER INC
|
Healthcare | 0.96% | 1.32% |
#32
11
Prev: #21
|
0.9 |
—
|
-23,747 | -2.1% |
P
S
|
1,126,006 | $27,083,384 | 2007 Q4 | 13F Filing | 2026-06-30 | 2026-07-30 | |||
|
WBD
WARNER BROS DIS...
|
Communication Services | 0.87% | 0.63% |
#33
2
Prev: #31
|
3.3 |
—
|
359,418 | 64.1% |
P
S
|
920,507 | $24,511,598 | 2026 Q1 | 13F Filing | 2026-06-30 | 2026-07-30 | |||
|
GAU
GALIANO GOLD IN...
|
Basic Materials | 0.86% | 1.35% |
#34
14
Prev: #20
|
0.8 |
—
|
-230,000 | -1.7% |
P
S
|
12,994,532 | $24,245,208 | 2020 Q2 | 13F Filing | 2026-06-30 | 2026-07-30 | |||
|
ARMN
ARIS MNG CORP
|
Unknown | 0.85% | 1.42% |
#35
17
Prev: #18
|
0.8 |
—
|
-267,004 | -14.3% |
P
S
|
1,605,529 | $23,908,258 | 2023 Q3 | 13F Filing | 2026-06-30 | 2026-07-30 | |||
|
EGO
ELDORADO GOLD C...
|
Basic Materials | 0.74% | 1.27% |
#36
14
Prev: #22
|
0.3 |
—
|
-225,329 | -25.1% |
P
S
|
674,029 | $20,932,668 | 2019 Q1 | 13F Filing | 2026-06-30 | 2026-07-30 | |||
|
KGC
KINROSS GOLD CO...
|
Basic Materials | 0.73% | 0.42% |
#37
4
Prev: #41
|
3.3 |
—
|
541,739 | 163.0% |
P
S
|
874,179 | $20,646,858 | 2010 Q4 | 13F Filing | 2026-06-30 | 2026-07-30 | |||
|
DIS
DISNEY WALT CO
|
Communication Services | 0.72% | 0.24% |
#38
22
Prev: #60
|
3.3 |
—
|
150,535 | 245.7% |
P
S
|
211,815 | $20,364,573 | 2016 Q4 | 13F Filing | 2026-06-30 | 2026-07-30 | |||
|
ABNB
AIRBNB INC
|
Consumer Cyclical | 0.71% | — |
#39
Prev: #—
|
3.8 |
—
|
139,870 | — |
NEW
|
139,870 | $19,993,108 | 2026 Q2 | 13F Filing | 2026-06-30 | 2026-07-30 | |||
|
VG
VENTURE GLOBAL ...
|
Energy | 0.70% | 0.30% |
#40
8
Prev: #48
|
3.3 |
—
|
1,328,198 | 288.2% |
P
S
|
1,789,003 | $19,889,073 | 2026 Q1 | 13F Filing | 2026-06-30 | 2026-07-30 | |||
|
FLR
FLUOR CORP
|
Industrials | 0.70% | — |
#41
Prev: #—
|
3.8 |
—
|
375,643 | — |
NEW
|
375,643 | $19,658,222 | 2016 Q4 | 13F Filing | 2026-06-30 | 2026-07-30 | |||
|
COO
COOPER COS INC
|
Healthcare | 0.68% | 0.63% |
#42
12
Prev: #30
|
2.8 |
—
|
52,420 | 24.2% |
P
S
|
268,591 | $19,239,619 | 2025 Q2 | 13F Filing | 2026-06-30 | 2026-07-30 | |||
|
CDE
COEUR MNG INC
|
Basic Materials | 0.67% | 0.30% |
#43
6
Prev: #49
|
3.3 |
—
|
784,716 | 204.3% |
P
S
|
1,168,748 | $19,053,129 | 2009 Q2 | 13F Filing | 2026-06-30 | 2026-07-30 | |||
|
N/A
MAGNUM ICE CREA...
|
|
Unknown | 0.67% | 0.45% |
#44
5
Prev: #39
|
2.8 |
—
|
327,041 | 43.3% |
P
S
|
1,082,605 | $18,825,159 | — | 13F Filing | 2026-06-30 | 2026-07-30 | ||
|
IFF
INTERNATIONAL F...
|
Basic Materials | 0.64% | 0.87% |
#45
17
Prev: #28
|
0.3 |
—
|
-63,316 | -21.7% |
P
S
|
228,297 | $18,065,814 | 2025 Q3 | 13F Filing | 2026-06-30 | 2026-07-30 | |||
|
N/A
WISE GROUP PLC
|
|
Unknown | 0.60% | — |
#46
Prev: #—
|
3.7 |
—
|
1,415,047 | — |
NEW
|
1,415,047 | $16,963,419 | — | 13F Filing | 2026-06-30 | 2026-07-30 | ||
|
OCANF
OCEANAGOLD CORP
|
Basic Materials | 0.59% | — |
#47
Prev: #—
|
3.7 |
—
|
667,801 | — |
NEW
|
667,801 | $16,714,988 | 2026 Q2 | 13F Filing | 2026-06-30 | 2026-07-30 | |||
|
SSRM
SSR MINING IN
|
Basic Materials | 0.58% | 0.88% |
#48
21
Prev: #27
|
0.2 |
—
|
-148,504 | -20.3% |
P
S
|
583,120 | $16,472,618 | 2018 Q4 | 13F Filing | 2026-06-30 | 2026-07-30 | |||
|
ALV
AUTOLIV INC
|
Consumer Cyclical | 0.56% | — |
#49
Prev: #—
|
3.7 |
—
|
137,005 | — |
NEW
|
137,005 | $15,898,483 | 2026 Q2 | 13F Filing | 2026-06-30 | 2026-07-30 | |||
|
B
BARRICK GOLD CO...
|
Basic Materials | 0.56% | 0.96% |
#50
24
Prev: #26
|
0.2 |
—
|
-139,651 | -24.4% |
P
S
|
431,774 | $15,841,733 | 2025 Q3 | 13F Filing | 2026-06-30 | 2026-07-30 |
Showing 1-50 of 218 holdings