Ruffer LLP 13F holdings
Ruffer LLP reported 187 positions with a total reported value of $2.8B as of 2026-06-30, in its 13F for Q2 2026, filed 2026-07-30. Top holdings by reported value: AMZN AMAZON COM INC (7.0%), MSFT MICROSOFT CORP (6.0%), BABA ALIBABA GROUP HLDG LTD (4.3%), SW SMURFIT WESTROCK PLC (4.0%), BAC BANK AMERICA CORP (2.6%). Against 2026-03-31 it opened 42 new positions and exited 31. Next 13F due by 2026-11-14, the legal deadline 45 days after the quarter ending 2026-09-30.
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Top holdings
25 largest of 187 positions · reported value as of 2026-06-30
| Holding | Shares | Reported value | % of portfolio |
|---|---|---|---|
| AMZN AMAZON COM INC | 829,118 | $197.4M | 7.0% |
| MSFT MICROSOFT CORP | 454,873 | $169.5M | 6.0% |
| BABA ALIBABA GROUP HLDG LTD | 1,265,069 | $121.3M | 4.3% |
| SW SMURFIT WESTROCK PLC | 2,438,889 | $112.7M | 4.0% |
| BAC BANK AMERICA CORP | 1,304,202 | $74.2M | 2.6% |
| FND FLOOR & DECOR HLDGS INC | 1,235,490 | $73.3M | 2.6% |
| COIN COINBASE GLOBAL INC | 499,000 | $72.9M | 2.6% |
| NTES NETEASE COM INC | 487,913 | $62.5M | 2.2% |
| SLB SLB LIMITED | 1,341,534 | $62.3M | 2.2% |
| BP BP PLC | 1,624,940 | $60.0M | 2.1% |
| SOLV SOLVENTUM CORP | 776,468 | $59.8M | 2.1% |
| SU SUNCOR ENERGY INC NEW | 1,009,746 | $54.2M | 1.9% |
| LAMR LAMAR ADVERTISING CO NEW | 338,207 | $52.7M | 1.9% |
| BF-B BROWN FORMAN CORP | 1,931,956 | $51.4M | 1.8% |
| YMM FULL TRUCK ALLIANCE CO LTD | 5,724,180 | $46.4M | 1.6% |
| EQX EQUINOX GOLD CORP | 4,736,428 | $46.0M | 1.6% |
| XOM EXXON MOBIL CORP | 314,224 | $42.9M | 1.5% |
| TCOM TRIP COM GROUP LTD | 1,075,096 | $42.8M | 1.5% |
| JD JD.COM INC | 1,537,181 | $39.1M | 1.4% |
| BKNG BOOKING HOLDINGS INC | 215,996 | $38.5M | 1.4% |
| EXE EXPAND ENERGY CORPORATION | 420,557 | $38.3M | 1.4% |
| SPGI S&P GLOBAL INC | 93,768 | $38.1M | 1.3% |
| UNP UNION PAC CORP | 140,019 | $38.0M | 1.3% |
| TTE TOTALENERGIES SE | 474,930 | $36.9M | 1.3% |
| BRK-B BERKSHIRE HATHAWAY INC DEL | 72,990 | $36.5M | 1.3% |
SEC FORM 13F · Q2 2026 · VALUES AS REPORTED, NOT PRICES
New positions this quarter
Held at 2026-06-30, not at 2026-03-31 · 42 in all · reported value as of 2026-06-30
| Holding | Shares | Reported value | % of portfolio |
|---|---|---|---|
| NTES NETEASE COM INC | 487,913 | $62.5M | 2.2% |
| YMM FULL TRUCK ALLIANCE CO LTD | 5,724,180 | $46.4M | 1.6% |
| TCOM TRIP COM GROUP LTD | 1,075,096 | $42.8M | 1.5% |
| JD JD.COM INC | 1,537,181 | $39.1M | 1.4% |
| EXE EXPAND ENERGY CORPORATION | 420,557 | $38.3M | 1.4% |
| SPGI S&P GLOBAL INC | 93,768 | $38.1M | 1.3% |
| TTE TOTALENERGIES SE | 474,930 | $36.9M | 1.3% |
| SCHW SCHWAB CHARLES CORP | 358,432 | $33.0M | 1.2% |
| ABNB AIRBNB INC | 139,870 | $20.0M | 0.7% |
| FLR FLUOR CORP | 375,643 | $19.7M | 0.7% |
| WSE WISE GROUP PLC | 1,415,047 | $17.0M | 0.6% |
| OGC OCEANAGOLD CORP | 667,801 | $16.7M | 0.6% |
| ALV AUTOLIV INC | 137,005 | $15.9M | 0.6% |
| AEM AGNICO EAGLE MINES LTD | 63,411 | $9.8M | 0.3% |
| ADM ARCHER DANIELS MIDLAND CO | 96,890 | $7.4M | 0.3% |
| DTM DT MIDSTREAM INC | 49,640 | $7.3M | 0.3% |
| DVN DEVON ENERGY CORP NEW | 171,460 | $7.1M | 0.3% |
| PNW PINNACLE WEST CAP CORP | 65,180 | $7.0M | 0.2% |
| GFI GOLD FIELDS LTD | 200,640 | $6.7M | 0.2% |
| SOBO SOUTH BOW CORP | 179,920 | $6.3M | 0.2% |
| HAPPEN INC | 298,095 | $6.2M | 0.2% |
| JAZZ JAZZ PHARMACEUTICALS PLC | 24,567 | $5.9M | 0.2% |
| STRA STRATEGIC ED INC | 74,454 | $5.7M | 0.2% |
| CANADIAN NAT RES LTD MED TER | 136,720 | $5.4M | 0.2% |
| PRDO PERDOCEO ED CORP | 122,534 | $3.9M | 0.1% |
Sold out
Held at 2026-03-31, gone by 2026-06-30 · 31 in all · reported value as of 2026-03-31
| Holding | Shares 2026-03-31 | Reported value | % of portfolio then |
|---|---|---|---|
| UHAL U HAUL HOLDING COMPANY | 299,133 | $13.4M | 0.5% |
| KGS KODIAK GAS SVCS INC | 147,870 | $8.6M | 0.4% |
| NFG NATIONAL FUEL GAS CO | 82,360 | $7.8M | 0.3% |
| LYB LYONDELLBASELL INDUSTRIES NV | 77,910 | $6.3M | 0.3% |
| CSX CSX CORP | 148,210 | $6.1M | 0.2% |
| EXEL EXELIXIS INC | 117,923 | $5.1M | 0.2% |
| FLNG FLEX LNG LTD | 144,610 | $4.3M | 0.2% |
| SMPL SIMPLY GOOD FOODS CO | 299,062 | $4.3M | 0.2% |
| LIN LINDE PLC | 8,560 | $4.3M | 0.2% |
| GENERAL MTRS CO | 54,616 | $4.1M | 0.2% |
| DD DUPONT DE NEMOURS INC | 88,140 | $4.0M | 0.2% |
| SFL SFL CORPORATION LTD | 350,080 | $3.8M | 0.2% |
| GTX GARRETT MOTION INC | 205,949 | $3.8M | 0.2% |
| PBI PITNEY BOWES INC | 328,645 | $3.6M | 0.1% |
| ESI ELEMENT SOLUTIONS INC | 105,820 | $3.6M | 0.1% |
| ASH ASHLAND INC | 64,533 | $3.6M | 0.1% |
| VIRTU FINL INC | 81,146 | $3.6M | 0.1% |
| HRMY HARMONY BIOSCIENCES HLDGS IN | 104,658 | $2.9M | 0.1% |
| ANF ABERCROMBIE & FITCO CO | 30,270 | $2.8M | 0.1% |
| INDV INDIVIOR PHARMACEUTICALS INC | 90,247 | $2.8M | 0.1% |
| VVV VALVOLINE INC | 80,326 | $2.7M | 0.1% |
| SGHC SUPER GROUP SGHC LIMITED | 248,002 | $2.7M | 0.1% |
| W WAYFAIR INC | 31,465 | $2.4M | <0.1% |
| FBIN FORTUNE BRANDS INNOVATIONS I | 58,029 | $2.3M | <0.1% |
| MUSA MURPHY USA INC | 4,522 | $2.2M | <0.1% |
Biggest increases and decreases
Positions held at both quarter ends, by change in shares · reported value as of 2026-06-30
Increases
| Holding | Shares 2026-03-31 | Shares 2026-06-30 | Change | Reported value |
|---|---|---|---|---|
| AMZN AMAZON COM INC | 561,527 | 829,118 | +47.7% | $197.4M |
| MSFT MICROSOFT CORP | 313,446 | 454,873 | +45.1% | $169.5M |
| BKNG BOOKING HOLDINGS INC | 6,147 | 215,996 | +3,413.8% | $38.5M |
| BRK-B BERKSHIRE HATHAWAY INC DEL | 9,000 | 72,990 | +711.0% | $36.5M |
| EAGLE MATLS INC | 10,661 | 131,978 | +1,138.0% | $29.7M |
| VG VENTURE GLOBAL INC | 460,805 | 1,789,003 | +288.2% | $19.9M |
| DIS DISNEY WALT CO | 61,280 | 211,815 | +245.7% | $20.4M |
| KGC KINROSS GOLD CORP | 332,440 | 874,179 | +163.0% | $20.6M |
| COEUR MNG INC | 384,032 | 1,168,748 | +204.3% | $19.1M |
| SIG SIGNET JEWELERS LIMITED | 227,635 | 360,278 | +58.3% | $31.0M |
| WBD WARNER BROS DISCOVERY INC | 561,089 | 920,507 | +64.1% | $24.5M |
| BABA ALIBABA GROUP HLDG LTD | 1,171,229 | 1,265,069 | +8.0% | $121.3M |
Decreases
| Holding | Shares 2026-03-31 | Shares 2026-06-30 | Change | Reported value |
|---|---|---|---|---|
| COIN COINBASE GLOBAL INC | 1,435,990 | 499,000 | -65.3% | $72.9M |
| GE AEROSPACE | 118,042 | 42,402 | -64.1% | $15.8M |
| BF-B BROWN FORMAN CORP | 2,731,876 | 1,931,956 | -29.3% | $51.4M |
| BP BP PLC | 2,098,006 | 1,624,940 | -22.5% | $60.0M |
| SW SMURFIT WESTROCK PLC | 2,786,197 | 2,438,889 | -12.5% | $112.7M |
| MOHAWK INDS INC | 144,300 | 16,220 | -88.8% | $2.0M |
| SLB SLB LIMITED | 1,542,086 | 1,341,534 | -13.0% | $62.3M |
| SNX TD SYNNEX CORPORATION | 38,663 | 5,347 | -86.2% | $1.4M |
| UNP UNION PAC CORP | 169,256 | 140,019 | -17.3% | $38.0M |
| EGO ELDORADO GOLD CORP NEW | 899,358 | 674,029 | -25.1% | $20.9M |
| ARROW ELECTRS INC | 33,745 | 1,170 | -96.5% | $249.4K |
| SOLV SOLVENTUM CORP | 859,993 | 776,468 | -9.7% | $59.8M |
CIK 1426859 · 13F FILINGS ON EDGAR · INFORMATIONAL ONLY
