Ruffer LLP

All Holdings — 2025 Q4

Portfolio Concentration Analytics: 7.6
Risk-based ENB:
Total Positions
184
Quarter
2025 Q4
Top Holding
SW (7.9%)
Top 10 Concentration
45.1%
Turnover Rate
23.4%
Sector HHI
0.18
Items per page:
1-25 of 184
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
SW
SMURFIT WESTROC...
Consumer Cyclical 7.94% 1.86% #1 19
Prev: #20
5.5 3,718,562 473.3%
P
S
4,504,151 $174,447,456 2024 Q3 13F Filing 2025-12-31 2026-02-14 (Est.)
COIN
COINBASE GLOBAL...
Financial Services 7.58% #2
Prev: #—
5.0 735,190 no change
NEW
735,190 $166,515,084 2025 Q4 13F Filing 2025-12-31 2026-02-14 (Est.)
AMZN
AMAZON COM INC
Consumer Cyclical 7.07% 8.21% #3 2
Prev: #1
2.8 -1,330 -0.2%
P
S
671,466 $155,229,762 2022 Q3 13F Filing 2025-12-31 2026-02-14 (Est.)
BAC
BANK AMERICA CO...
Financial Services 4.18% 5.37% #4 1
Prev: #3
1.7 -203,612 -10.9%
P
S
1,668,030 $91,884,412 2007 Q4 13F Filing 2025-12-31 2026-02-14 (Est.)
EQX
EQUINOX GOLD CO...
Basic Materials 3.71% 5.39% #5 3
Prev: #2
1.6 -2,859,941 -33.1%
P
S
5,791,948 $81,543,894 2020 Q1 13F Filing 2025-12-31 2026-02-14 (Est.)
BP
BP PLC
Energy 3.54% 4.40% #6 1
Prev: #5
1.4 -59,030 -2.6%
P
S
2,235,750 $77,768,827 2007 Q4 13F Filing 2025-12-31 2026-02-14 (Est.)
BABA
ALIBABA GROUP H...
Consumer Cyclical 3.22% 3.82% #7
Prev: #7
3.4 96,178 25.0%
P
S
481,064 $70,623,682 2017 Q2 13F Filing 2025-12-31 2026-02-14 (Est.)
DIS
DISNEY WALT CO
Communication Services 2.94% #8
Prev: #—
3.2 567,615 no change
NEW
567,615 $64,678,093 2016 Q4 13F Filing 2025-12-31 2026-02-14 (Est.)
EGO
ELDORADO GOLD C...
Basic Materials 2.64% 2.27% #9 5
Prev: #14
3.1 198,916 14.1%
P
S
1,611,656 $57,981,067 2019 Q1 13F Filing 2025-12-31 2026-02-14 (Est.)
EXR
EXTRA SPACE STO...
Real Estate 2.29% 2.64% #10 2
Prev: #12
3.0 48,593 14.4%
P
S
385,535 $50,282,751 2025 Q3 13F Filing 2025-12-31 2026-02-14 (Est.)
SOLV
SOLVENTUM CORP
Healthcare 2.22% 0.84% #11 23
Prev: #34
3.2 407,001 196.1%
P
S
614,558 $48,772,742 2025 Q3 13F Filing 2025-12-31 2026-02-14 (Est.)
FND
FLOOR & DECOR H...
Consumer Cyclical 2.15% #12
Prev: #—
2.9 774,470 no change
NEW
774,470 $47,230,712 2025 Q4 13F Filing 2025-12-31 2026-02-14 (Est.)
CGAU
CENTERRA GOLD I...
Basic Materials 2.14% 3.52% #13 5
Prev: #8
1.0 -2,648,972 -44.9%
P
S
3,255,131 $46,997,492 2021 Q2 13F Filing 2025-12-31 2026-02-14 (Est.)
SU
SUNCOR ENERGY I...
Energy 2.02% 2.18% #14 2
Prev: #16
2.8 64,131 6.9%
P
S
999,168 $44,470,690 2007 Q4 13F Filing 2025-12-31 2026-02-14 (Est.)
SLB
SCHLUMBERGER LT...
Energy 2.01% #15
Prev: #—
2.8 1,146,543 no change
NEW
1,146,543 $44,072,513 2007 Q4 13F Filing 2025-12-31 2026-02-14 (Est.)
ARMN
ARIS MNG CORP
Basic Materials 1.96% 2.24% #16 1
Prev: #15
0.9 -1,467,589 -35.7%
P
S
2,647,139 $43,054,761 2023 Q3 13F Filing 2025-12-31 2026-02-14 (Est.)
XOM
EXXON MOBIL COR...
Energy 1.76% 1.74% #17 4
Prev: #21
2.7 41,839 15.0%
P
S
320,081 $38,578,246 2007 Q4 13F Filing 2025-12-31 2026-02-14 (Est.)
GAU
GALIANO GOLD IN...
Basic Materials 1.66% 2.01% #18 1
Prev: #17
0.7 -2,305,521 -13.9%
P
S
14,305,507 $36,479,422 2020 Q2 13F Filing 2025-12-31 2026-02-14 (Est.)
GE
GE AEROSPACE
Industrials 1.65% 1.68% #19 4
Prev: #23
2.7 16,936 16.9%
P
S
117,301 $36,188,716 2007 Q4 13F Filing 2025-12-31 2026-02-14 (Est.)
PFE
PFIZER INC
Healthcare 1.50% 2.87% #20 9
Prev: #11
0.7 -698,969 -34.6%
P
S
1,324,096 $33,021,466 2007 Q4 13F Filing 2025-12-31 2026-02-14 (Est.)
PAAS
PAN AMERN SILVE...
Basic Materials 1.44% 1.94% #21 3
Prev: #18
0.7 -293,423 -32.5%
P
S
608,328 $31,566,681 2019 Q1 13F Filing 2025-12-31 2026-02-14 (Est.)
PNC
PNC FINL SVCS G...
Financial Services 1.43% 1.47% #22 2
Prev: #24
2.6 18,193 13.8%
P
S
150,102 $31,379,480 2023 Q1 13F Filing 2025-12-31 2026-02-14 (Est.)
UNP
UNION PAC CORP
Industrials 1.41% #23
Prev: #—
2.6 133,430 no change
NEW
133,430 $30,913,217 2025 Q4 13F Filing 2025-12-31 2026-02-14 (Est.)
PM
PHILIP MORRIS I...
Consumer Defensive 1.38% 0.86% #24 9
Prev: #33
2.9 94,226 99.1%
P
S
189,305 $30,412,053 2008 Q3 13F Filing 2025-12-31 2026-02-14 (Est.)
LAMR
LAMAR ADVERTISI...
Real Estate 1.38% #25
Prev: #—
2.6 239,820 no change
NEW
239,820 $30,402,049 2025 Q4 13F Filing 2025-12-31 2026-02-14 (Est.)
FSLR
FIRST SOLAR INC
Technology 0.00% 1.93%
Sold All 😨
(Was: #19)
0.3 -157,055 -100.0%
CLOSED
$— 2024 Q4 13F Filing 2025-12-31 2026-02-14 (Est.)
MRK
MERCK & CO INC
Healthcare 0.00% 1.72%
Sold All 😨
(Was: #22)
0.3 -368,848 -100.0%
CLOSED
$— 2007 Q4 13F Filing 2025-12-31 2026-02-14 (Est.)
UTHR
UNITED THERAPEU...
Healthcare 0.00% 1.13%
Sold All 😨
(Was: #27)
0.3 -48,545 -100.0%
CLOSED
$— 2024 Q4 13F Filing 2025-12-31 2026-02-14 (Est.)
IQV
IQVIA HLDGS INC
Healthcare 0.00% 1.09%
Sold All 😨
(Was: #29)
0.3 -102,970 -100.0%
CLOSED
$— 2025 Q2 13F Filing 2025-12-31 2026-02-14 (Est.)
UHS
UNIVERSAL HLTH ...
Healthcare 0.00% 1.01%
Sold All 😨
(Was: #30)
0.3 -88,680 -100.0%
CLOSED
$— 2025 Q3 13F Filing 2025-12-31 2026-02-14 (Est.)
RYAAY
RYANAIR HOLDING...
Industrials 0.00% 0.87%
Sold All 😨
(Was: #32)
0.3 -259,683 -100.0%
CLOSED
$— 2022 Q3 13F Filing 2025-12-31 2026-02-14 (Est.)
CAKE
CHEESECAKE FACT...
Consumer Cyclical 0.00% 0.81%
Sold All 😨
(Was: #35)
0.3 -265,599 -100.0%
CLOSED
$— 2024 Q4 13F Filing 2025-12-31 2026-02-14 (Est.)
REGN
REGENERON PHARM...
Healthcare 0.00% 0.67%
Sold All 😨
(Was: #37)
0.3 -21,540 -100.0%
CLOSED
$— 2025 Q3 13F Filing 2025-12-31 2026-02-14 (Est.)
AAUCD
ALLIED GOLD COR...
Unknown 0.00% 0.48%
Sold All 😨
(Was: #39)
0.3 -498,940 -100.0%
CLOSED
$— 2025 Q2 13F Filing 2025-12-31 2026-02-14 (Est.)
NE
NOBLE CORP PLC
Energy 0.00% 0.45%
Sold All 😨
(Was: #40)
0.3 -289,439 -100.0%
CLOSED
$— 2022 Q4 13F Filing 2025-12-31 2026-02-14 (Est.)
BMY
BRISTOL-MYERS S...
Healthcare 0.00% 0.38%
Sold All 😨
(Was: #42)
0.3 -151,760 -100.0%
CLOSED
$— 2007 Q4 13F Filing 2025-12-31 2026-02-14 (Est.)
MLI
MUELLER INDS IN...
Industrials 0.00% 0.27%
Sold All 😨
(Was: #46)
0.3 -47,988 -100.0%
CLOSED
$— 2025 Q2 13F Filing 2025-12-31 2026-02-14 (Est.)
ENS
ENERSYS
Industrials 0.00% 0.26%
Sold All 😨
(Was: #47)
0.3 -41,526 -100.0%
CLOSED
$— 2025 Q1 13F Filing 2025-12-31 2026-02-14 (Est.)
ARW
ARROW ELECTRS I...
Technology 0.00% 0.25%
Sold All 😨
(Was: #51)
0.3 -36,923 -100.0%
CLOSED
$— 2025 Q2 13F Filing 2025-12-31 2026-02-14 (Est.)
CMCSA
COMCAST CORP NE...
Communication Services 0.00% 0.24%
Sold All 😨
(Was: #53)
0.3 -139,073 -100.0%
CLOSED
$— 2008 Q1 13F Filing 2025-12-31 2026-02-14 (Est.)
HPE
HEWLETT PACKARD...
Technology 0.00% 0.22%
Sold All 😨
(Was: #58)
0.3 -164,531 -100.0%
CLOSED
$— 2024 Q4 13F Filing 2025-12-31 2026-02-14 (Est.)
LKQ
LKQ CORP
Consumer Cyclical 0.00% 0.21%
Sold All 😨
(Was: #62)
0.3 -124,210 -100.0%
CLOSED
$— 2025 Q3 13F Filing 2025-12-31 2026-02-14 (Est.)
TNL
TRAVEL PLUS LEI...
Consumer Cyclical 0.00% 0.21%
Sold All 😨
(Was: #63)
0.3 -63,583 -100.0%
CLOSED
$— 2025 Q3 13F Filing 2025-12-31 2026-02-14 (Est.)
TIGO
MILLICOM INTL C...
Communication Services 0.00% 0.19%
Sold All 😨
(Was: #69)
0.3 -71,312 -100.0%
CLOSED
$— 2025 Q3 13F Filing 2025-12-31 2026-02-14 (Est.)
OC
OWENS CORNING N...
Industrials 0.00% 0.19%
Sold All 😨
(Was: #70)
0.3 -24,382 -100.0%
CLOSED
$— 2024 Q4 13F Filing 2025-12-31 2026-02-14 (Est.)
TOL
TOLL BROTHERS I...
Consumer Cyclical 0.00% 0.18%
Sold All 😨
(Was: #72)
0.3 -23,670 -100.0%
CLOSED
$— 2024 Q4 13F Filing 2025-12-31 2026-02-14 (Est.)
APAM
ARTISAN PARTNER...
Financial Services 0.00% 0.17%
Sold All 😨
(Was: #73)
0.3 -70,061 -100.0%
CLOSED
$— 2025 Q3 13F Filing 2025-12-31 2026-02-14 (Est.)
FRO
FRONTLINE PLC
Energy 0.00% 0.16%
Sold All 😨
(Was: #74)
0.3 -124,843 -100.0%
CLOSED
$— 2025 Q3 13F Filing 2025-12-31 2026-02-14 (Est.)
ATKR
ATKORE INC
Industrials 0.00% 0.16%
Sold All 😨
(Was: #75)
0.3 -44,841 -100.0%
CLOSED
$— 2024 Q4 13F Filing 2025-12-31 2026-02-14 (Est.)
SHLS
SHOALS TECHNOLO...
Technology 0.00% 0.15%
Sold All 😨
(Was: #76)
0.3 -369,142 -100.0%
CLOSED
$— 2025 Q3 13F Filing 2025-12-31 2026-02-14 (Est.)
UPWK
UPWORK INC
Communication Services 0.00% 0.15%
Sold All 😨
(Was: #77)
0.3 -146,239 -100.0%
CLOSED
$— 2025 Q3 13F Filing 2025-12-31 2026-02-14 (Est.)
MTCH
MATCH GROUP INC...
Communication Services 0.00% 0.15%
Sold All 😨
(Was: #78)
0.3 -76,595 -100.0%
CLOSED
$— 2025 Q2 13F Filing 2025-12-31 2026-02-14 (Est.)
TS
TENARIS S A
Energy 0.00% 0.12%
Sold All 😨
(Was: #88)
0.3 -59,349 -100.0%
CLOSED
$— 2016 Q4 13F Filing 2025-12-31 2026-02-14 (Est.)
KGC
KINROSS GOLD CO...
Basic Materials 0.00% 0.06%
Sold All 😨
(Was: #92)
0.3 -43,604 -100.0%
CLOSED
$— 2010 Q4 13F Filing 2025-12-31 2026-02-14 (Est.)
TMHC
TAYLOR MORRISON...
Consumer Cyclical 0.00% 0.01%
Sold All 😨
(Was: #101)
0.3 -3,363 -100.0%
CLOSED
$— 2024 Q4 13F Filing 2025-12-31 2026-02-14 (Est.)
Showing 1-25 of 184 holdings

Unlock Full Ruffer LLP Analysis

PRO subscribers get access to all historical quarters, Excel/CSV exports, Portfolio Concentration Analytics (PCA), and Risk-Based ENB.

Full Historical Quarters
Excel & CSV Export
PCA & Risk-Based ENB
Auto Cost Basis
Position Change Alerts
Price-Held Analytics