Ruffer LLP
- SEC CIK
- 0001426859
- Latest filing
- Jul 30, 2026
Holdings in Q4 2021
Holdings as of Dec 31, 2021, filed Feb 4, 2022. Long positions only; changes compare share counts with Q3 2021.
- Positions
- 101
- +11 vs. Q3 2021
- Portfolio value
- $4.15B
- +$990.4M (+31.3%) vs. Q3 2021
| Security | Class | Shares | Value | % of portfolio | Share change | Action | History |
|---|---|---|---|---|---|---|---|
| BRF SA10552T107 | SPONSORED ADR | 37,510 | $154.0K | <0.1% | −1,281,100−97.2% | Reduced | – |
| HTZWWHertz Global Holdings, Inc | Common Stock | 11,150 | $185.0K | <0.1% | +11,150 | New | History |
| AFLAflac Inc | Stock | 3,427 | $200.0K | <0.1% | −1,351−28.3% | Reduced | History |
| APTVAptiv PLC | SHS | 1,238 | $206.0K | <0.1% | +1,238 | New | History |
| NXPINXP Semiconductors N.V. | COM | 985 | $229.0K | <0.1% | +985 | New | History |
| SPOTSpotify Technology S.A. | Stock | 947 | $232.0K | <0.1% | 00.0% | Unchanged | History |
| CHKPCheck Point Software Technologies Ltd | ORD | 2,470 | $289.0K | <0.1% | −338−12.0% | Reduced | History |
| PSHGPerformance Shipping Inc. | COM NEW | 105,572 | $405.0K | <0.1% | +70,572+201.6% | Added | History |
| GASSStealthGas Inc. | SHS | 200,000 | $453.0K | <0.1% | 00.0% | Unchanged | History |
| MRSHMarsh & McLennan Companies, Inc. | Stock | 2,900 | $487.0K | <0.1% | 00.0% | Unchanged | History |
| VIPSVipshop Holdings Ltd | SPONSORED ADS A | 59,017 | $495.0K | <0.1% | +13,826+30.6% | Added | History |
| VanEck ETF Trust92189F106 | GOLD MINERS ETF | 16,025 | $502.0K | <0.1% | 00.0% | Unchanged | – |
| GLDSPDR Gold Trust | ETF | 3,329 | $562.0K | <0.1% | +118+3.7% | Added | History |
| HMYHarmony Gold Mining Co Ltd | ADR | 149,785 | $585.0K | <0.1% | 00.0% | Unchanged | History |
| SBSafe Bulkers, Inc. | COM | 163,788 | $637.0K | <0.1% | 00.0% | Unchanged | History |
| VIVTelefonica Brasil S.A. | SPONSORED ADS | 82,879 | $695.0K | <0.1% | −525,873−86.4% | Reduced | History |
| APAAPA Corp | Stock | 26,000 | $732.0K | <0.1% | +26,000 | New | History |
| AAPLApple Inc. | Stock | 4,062 | $742.0K | <0.1% | −714−14.9% | Reduced | History |
| NOMDNomad Foods Ltd | USD ORD SHS | 30,000 | $781.0K | <0.1% | 00.0% | Unchanged | History |
| MSFTMicrosoft Corp | Stock | 2,594 | $871.0K | <0.1% | −124−4.6% | Reduced | History |
| NEENextera Energy Inc | Stock | 9,700 | $892.0K | <0.1% | 00.0% | Unchanged | History |
| ARCOArcos Dorados Holdings Inc. | SHS CLASS -A - | 152,142 | $917.0K | <0.1% | 00.0% | Unchanged | History |
| DOWDow Inc. | Stock | 16,363 | $933.0K | <0.1% | 00.0% | Unchanged | History |
| CMICummins Inc | Stock | 4,300 | $947.0K | <0.1% | 00.0% | Unchanged | History |
| CLHClean Harbors Inc | COM | 10,000 | $977.0K | <0.1% | 00.0% | Unchanged | History |
| JAZZJazz Pharmaceuticals plc | SHS USD | 7,702 | $1.01M | <0.1% | 00.0% | Unchanged | History |
| NXSTNexstar Media Group, Inc. | COMMON STOCK | 6,723 | $1.03M | <0.1% | +40+0.6% | Added | History |
| DNOWDNOW Inc. | COM | 120,000 | $1.05M | <0.1% | +120,000 | New | History |
| 4D Pharma PLC35085K109 | SPONSORED ADS | 195,954 | $1.07M | <0.1% | 00.0% | Unchanged | – |
| CAGConagra Brands Inc. | Stock | 32,000 | $1.09M | <0.1% | 00.0% | Unchanged | History |
| USBUS Bancorp DE | COM NEW | 20,000 | $1.15M | <0.1% | 00.0% | Unchanged | History |
| USASAmericas Gold & Silver Corp | COM | 1,449,493 | $1.19M | <0.1% | 00.0% | Unchanged | History |
| MTBM&T Bank Corp | COM | 7,592 | $1.21M | <0.1% | 00.0% | Unchanged | History |
| MKLMarkel Group Inc. | COM | 1,000 | $1.23M | <0.1% | 00.0% | Unchanged | History |
| PMPhilip Morris International Inc. | Stock | 13,000 | $1.25M | <0.1% | 00.0% | Unchanged | History |
| MLMMartin Marietta Materials Inc | COM | 3,000 | $1.32M | <0.1% | 00.0% | Unchanged | History |
| WFCWells Fargo & Company | Stock | 26,000 | $1.32M | <0.1% | 00.0% | Unchanged | History |
| DBDeutsche Bank Aktiengesellschaft | NAMEN AKT | 106,500 | $1.37M | <0.1% | 00.0% | Unchanged | History |
| New Gold Inc Cda644535106 | COM | 1,000,000 | $1.50M | <0.1% | +1,000,000 | New | – |
| NOVNOV Inc. | COM | 104,453 | $1.51M | <0.1% | −1,743−1.6% | Reduced | History |
| ORAOrmat Technologies, Inc. | COM | 20,300 | $1.60M | <0.1% | 00.0% | Unchanged | History |
| LTHMLivent Corp. | COM | 73,603 | $1.88M | <0.1% | −160,792−68.6% | Reduced | History |
| BTGB2GOLD Corp | COM | 505,900 | $1.95M | <0.1% | +255,900+102.4% | Added | History |
| DVADavita Inc. | COM | 20,000 | $2.31M | 0.1% | +20,000 | New | History |
| GOROGoldgroup Mining Inc. | COM | 1,720,043 | $2.70M | 0.1% | +1,720,043 | New | History |
| GLDGGoldMining Inc. | COM | 2,501,996 | $3.02M | 0.1% | 00.0% | Unchanged | History |
| DRDDrdgold Ltd | SPON ADR REPSTG | 391,730 | $3.23M | 0.1% | 00.0% | Unchanged | History |
| YAlleghany Corp | COM | 4,900 | $3.25M | 0.1% | 00.0% | Unchanged | History |
| ITRGIntegra Resources Corp. | COM NEW | 1,614,579 | $3.48M | 0.1% | 00.0% | Unchanged | History |
| Great Panther MNG Ltd39115V101 | COM | 15,048,914 | $3.52M | 0.1% | +5,000,000+49.8% | Added | – |
| TIMBTim S.A. | SPONSORED ADR | 335,573 | $3.74M | 0.1% | −49,485−12.9% | Reduced | History |
| CVXChevron Corp | Stock | 32,000 | $3.83M | 0.1% | −8,000−20.0% | Reduced | History |
| DISWalt Disney Co | Stock | 26,290 | $4.13M | 0.1% | −414−1.6% | Reduced | History |
| NTRNutrien Ltd. | COM | 60,580 | $4.63M | 0.1% | 00.0% | Unchanged | History |
| EQXEquinox Gold Corp. | COM | 817,965 | $5.48M | 0.1% | 00.0% | Unchanged | History |
| Imv Inc44974L103 | COM | 4,796,786 | $5.85M | 0.1% | −726,613−13.2% | Reduced | – |
| BPBP PLC | ADR | 350,000 | $9.61M | 0.2% | +350,000 | New | History |
| SSRMSSR Mining Inc. | Stock | 564,514 | $9.72M | 0.2% | −6,940−1.2% | Reduced | History |
| VVisa Inc. | Stock | 57,000 | $12.7M | 0.3% | +57,000 | New | History |
| Yamana Gold Inc98462Y100 | COM | 3,071,168 | $12.7M | 0.3% | +3,071,168 | New | – |
| FSMFortuna Mining Corp. | COM | 4,044,840 | $15.7M | 0.4% | −300,200−6.9% | Reduced | History |
| BCOBrinks Co | COM | 280,726 | $18.4M | 0.4% | +280,726 | New | History |
| GAUGaliano Gold Inc. | COM | 26,378,459 | $18.6M | 0.4% | 00.0% | Unchanged | History |
| IAGIamgold Corp | COM | 8,043,957 | $24.4M | 0.6% | −4,512,360−35.9% | Reduced | History |
| Coherent Inc192479103 | COM | 91,928 | $24.6M | 0.6% | +41,642+82.8% | Added | – |
| COHRCoherent Corp. | COM | 385,534 | $27.7M | 0.7% | +176,247+84.2% | Added | History |
| PFEPfizer Inc | Stock | 559,354 | $31.8M | 0.8% | +124,464+28.6% | Added | History |
| LUVSouthwest Airlines Co | COM | 738,220 | $32.6M | 0.8% | +738,220 | New | History |
| JPMJPMorgan Chase & Co | Stock | 202,728 | $32.9M | 0.8% | −28,703−12.4% | Reduced | History |
| MROMarathon Oil Corp | COM | 2,153,515 | $36.5M | 0.9% | +2,153,515 | New | History |
| BRK.BBerkshire Hathaway Inc | Stock | 130,831 | $39.5M | 1.0% | −725−0.6% | Reduced | History |
| JXNJackson Financial Inc. | COM CL A | 947,285 | $40.3M | 1.0% | +422,290+80.4% | Added | History |
| GEGeneral Electric Co | Stock | 436,907 | $42.2M | 1.0% | +298,461+215.6% | Added | History |
| LMTLockheed Martin Corp | Stock | 124,665 | $44.3M | 1.1% | +50,660+68.5% | Added | History |
| CGAUCenterra Gold Inc. | COM | 5,869,050 | $45.0M | 1.1% | −210,500−3.5% | Reduced | History |
| OVVOvintiv Inc. | COM | 1,356,173 | $47.7M | 1.2% | +1,356,173 | New | History |
| GDDYGoDaddy Inc. | CL A | 576,830 | $48.9M | 1.2% | +297,940+106.8% | Added | History |
| EHTHeHealth, Inc. | COM | 2,035,443 | $54.9M | 1.3% | −121,132−5.6% | Reduced | History |
| COTYCoty Inc. | COM CL A | 5,222,748 | $55.8M | 1.3% | +1,584,838+43.6% | Added | History |
| CTRACoterra Energy Inc. | Stock | 3,112,389 | $61.1M | 1.5% | −508,760−14.0% | Reduced | History |
| XOMExxonMobil Holdings Corp | COM | 991,790 | $63.2M | 1.5% | −100,439−9.2% | Reduced | History |
| VSXYVictoria's Secret & Co. | COMMON STOCK | 1,338,277 | $75.3M | 1.8% | +1,338,277 | New | History |
| SCHWSchwab Charles Corp | Stock | 898,512 | $77.4M | 1.9% | +126,320+16.4% | Added | History |
| GFIGold Fields Ltd | SPONSORED ADR | 7,308,090 | $77.7M | 1.9% | +541,075+8.0% | Added | History |
| NEMNEWMONT Corp | Stock | 1,307,113 | $80.0M | 1.9% | +630,959+93.3% | Added | History |
| HTZHertz Global Holdings, Inc | COM NEW | 8,414,755 | $84.4M | 2.0% | +8,414,755 | New | History |
| COPConocoPhillips | Stock | 1,171,452 | $86.7M | 2.1% | +1,062,002+970.3% | Added | History |
| AUAngloGold Ashanti PLC | SPONSORED ADR | 4,529,942 | $91.2M | 2.2% | +284,820+6.7% | Added | History |
| GMGeneral Motors Co | COM | 1,694,818 | $104.0M | 2.5% | +219,823+14.9% | Added | History |
| NOCNorthrop Grumman Corp | Stock | 277,142 | $107.1M | 2.6% | +90,908+48.8% | Added | History |
| AZNAstraZeneca PLC | SPONSORED ADR | 1,860,232 | $108.8M | 2.6% | −111,564−5.7% | Reduced | History |
| FHIFederated Hermes, Inc. | CL B | 2,901,495 | $110.9M | 2.7% | −258,781−8.2% | Reduced | History |
| CNCCentene Corp | Stock | 1,495,157 | $124.0M | 3.0% | −1,913,302−56.1% | Reduced | History |
| Barrick Gold Corp067901108 | COM | 7,339,235 | $136.5M | 3.3% | +5,438,638+286.2% | Added | – |
| AXPAmerican Express Co | Stock | 882,015 | $148.8M | 3.6% | +74,073+9.2% | Added | History |
| EXEExpand Energy Corp | COM | 2,432,851 | $162.3M | 3.9% | −96,728−3.8% | Reduced | History |
| WPMWheaton Precious Metals Corp. | COM | 5,625,487 | $237.1M | 5.7% | +1,282,970+29.5% | Added | History |
| BMYBristol Myers Squibb Co | Stock | 4,937,545 | $306.5M | 7.4% | +988,450+25.0% | Added | History |
| ABEVAmbev S.A. | SPONSORED ADR | 117,286,661 | $319.4M | 7.7% | +6,502,116+5.9% | Added | History |
| KGCKinross Gold Corp | COM | 59,308,657 | $337.5M | 8.1% | +17,917,522+43.3% | Added | History |
Sold out since Q3 2021 (6)
Positions held at the end of Q3 2021 that are gone from this filing.
| Security | Class | Shares in Q3 2021 | Value in Q3 2021 | % of portfolio in Q3 2021 | History |
|---|---|---|---|---|---|
| CARAvis Budget Group, Inc. | COM | 457,636 | $55.5M | 1.8% | History |
| HRBH&R Block Inc | COM | 40,000 | $1.01M | <0.1% | History |
| EAFGraftech International Ltd | COM | 97,000 | $1.00M | <0.1% | History |
| VSATViasat Inc | COM | 16,500 | $928.0K | <0.1% | History |
| BABAAlibaba Group Holding Ltd | ADR | 5,295 | $760.0K | <0.1% | History |
| HUMHumana Inc | Stock | 1,799 | $701.0K | <0.1% | History |