Ruffer LLP
- SEC CIK
- 0001426859
- Latest filing
- Jul 30, 2026
Holdings in Q3 2022
Holdings as of Sep 30, 2022, filed Nov 10, 2022. Long positions only; changes compare share counts with Q2 2022.
- Positions
- 95
- −2 vs. Q2 2022
- Portfolio value
- $1.60B
- −$943.4M (−37.1%) vs. Q2 2022
| Security | Class | Shares | Value | % of portfolio | Share change | Action | History |
|---|---|---|---|---|---|---|---|
| BRF SA10552T107 | SPONSORED ADR | 37,510 | $100.0K | <0.1% | 00.0% | Unchanged | – |
| HTZWWHertz Global Holdings, Inc | Common Stock | 11,150 | $103.0K | <0.1% | 00.0% | Unchanged | History |
| AFLAflac Inc | Stock | 3,427 | $203.0K | <0.1% | +3,427 | New | History |
| MCKMcKesson Corp | Stock | 650 | $228.0K | <0.1% | 00.0% | Unchanged | History |
| MSFTMicrosoft Corp | Stock | 1,031 | $254.0K | <0.1% | −107−9.4% | Reduced | History |
| CHKPCheck Point Software Technologies Ltd | ORD | 2,417 | $275.0K | <0.1% | 00.0% | Unchanged | History |
| BUDAnheuser-Busch InBev SA/NV | ADR | 7,000 | $321.0K | <0.1% | −18,000−72.0% | Reduced | History |
| NOMDNomad Foods Ltd | USD ORD SHS | 30,000 | $424.0K | <0.1% | −30,000−50.0% | Reduced | History |
| SBSafe Bulkers, Inc. | COM | 163,788 | $430.0K | <0.1% | 00.0% | Unchanged | History |
| MRSHMarsh & McLennan Companies, Inc. | Stock | 2,900 | $456.0K | <0.1% | 00.0% | Unchanged | History |
| VIVTelefonica Brasil S.A. | SPONSORED ADS | 60,000 | $459.0K | <0.1% | −10,000−14.3% | Reduced | History |
| TIMBTim S.A. | SPONSORED ADR | 40,000 | $460.0K | <0.1% | −10,000−20.0% | Reduced | History |
| AAPLApple Inc. | Stock | 3,210 | $467.0K | <0.1% | −304−8.7% | Reduced | History |
| USASAmericas Gold & Silver Corp | COM | 1,199,493 | $583.0K | <0.1% | −250,000−17.2% | Reduced | History |
| EHTHeHealth, Inc. | COM | 169,777 | $610.0K | <0.1% | −1,010,934−85.6% | Reduced | History |
| DBDeutsche Bank Aktiengesellschaft | NAMEN AKT | 95,850 | $736.0K | <0.1% | 00.0% | Unchanged | History |
| DOWDow Inc. | Stock | 16,363 | $744.0K | <0.1% | 00.0% | Unchanged | History |
| NEENextera Energy Inc | Stock | 9,700 | $765.0K | <0.1% | 00.0% | Unchanged | History |
| INVXInnovex International, Inc. | COM | 35,000 | $771.0K | <0.1% | 00.0% | Unchanged | History |
| USBUS Bancorp DE | COM NEW | 19,300 | $793.0K | <0.1% | −700−3.5% | Reduced | History |
| WFCWells Fargo & Company | Stock | 22,000 | $929.0K | 0.1% | 00.0% | Unchanged | History |
| CMICummins Inc | Stock | 4,300 | $949.0K | 0.1% | 00.0% | Unchanged | History |
| MLMMartin Marietta Materials Inc | COM | 3,000 | $990.0K | 0.1% | 00.0% | Unchanged | History |
| JAZZJazz Pharmaceuticals plc | SHS USD | 7,702 | $1.07M | 0.1% | 00.0% | Unchanged | History |
| NXSTNexstar Media Group, Inc. | COMMON STOCK | 6,461 | $1.14M | 0.1% | −40−0.6% | Reduced | History |
| FMXMexican Economic Development Inc | SPON ADR UNITS | 18,000 | $1.17M | 0.1% | +18,000 | New | History |
| ARCOArcos Dorados Holdings Inc. | SHS CLASS -A - | 152,142 | $1.17M | 0.1% | 00.0% | Unchanged | History |
| EQXEquinox Gold Corp. | COM | 320,765 | $1.22M | 0.1% | −360,000−52.9% | Reduced | History |
| ITRGIntegra Resources Corp. | COM NEW | 2,384,579 | $1.28M | 0.1% | 00.0% | Unchanged | History |
| EGOEldorado Gold Corp | COM | 195,733 | $1.34M | 0.1% | −354,267−64.4% | Reduced | History |
| DDDuPont de Nemours, Inc. | COM | 25,479 | $1.35M | 0.1% | +25,479 | New | History |
| MTBM&T Bank Corp | COM | 7,500 | $1.38M | 0.1% | −92−1.2% | Reduced | History |
| FISVFiserv Inc | Stock | 14,000 | $1.39M | 0.1% | −11,000−44.0% | Reduced | History |
| MKLMarkel Group Inc. | COM | 1,300 | $1.49M | 0.1% | +300+30.0% | Added | History |
| DNOWDNOW Inc. | COM | 130,000 | $1.49M | 0.1% | −100,000−43.5% | Reduced | History |
| GOROGoldgroup Mining Inc. | COM | 871,179 | $1.56M | 0.1% | −638,544−42.3% | Reduced | History |
| DRDDrdgold Ltd | SPON ADR REPSTG | 298,052 | $1.70M | 0.1% | −11,667−3.8% | Reduced | History |
| ORAOrmat Technologies, Inc. | COM | 20,300 | $1.74M | 0.1% | 00.0% | Unchanged | History |
| Imv Inc44974L103 | COM | 4,419,545 | $2.11M | 0.1% | 00.0% | Unchanged | – |
| GLDGGoldMining Inc. | COM | 2,501,996 | $2.27M | 0.1% | 00.0% | Unchanged | History |
| PMPhilip Morris International Inc. | Stock | 28,000 | $2.39M | 0.1% | 00.0% | Unchanged | History |
| DISWalt Disney Co | Stock | 25,821 | $2.58M | 0.2% | 00.0% | Unchanged | History |
| IAGIamgold Corp | COM | 2,589,771 | $2.96M | 0.2% | −2,730,188−51.3% | Reduced | History |
| BTGB2GOLD Corp | COM | 966,783 | $3.27M | 0.2% | +200,000+26.1% | Added | History |
| SKESkeena Resources Ltd | Common Stock | 710,000 | $3.36M | 0.2% | 00.0% | Unchanged | History |
| CVXChevron Corp | Stock | 22,000 | $3.55M | 0.2% | 00.0% | Unchanged | History |
| NOCNorthrop Grumman Corp | Stock | 9,330 | $4.52M | 0.3% | −249,092−96.4% | Reduced | History |
| YAlleghany Corp | COM | 6,000 | $5.06M | 0.3% | −5,000−45.5% | Reduced | History |
| SSRMSSR Mining Inc. | Stock | 339,359 | $5.13M | 0.3% | 00.0% | Unchanged | History |
| NTRNutrien Ltd. | COM | 60,580 | $5.18M | 0.3% | 00.0% | Unchanged | History |
| LTHMLivent Corp. | COM | 209,651 | $6.23M | 0.4% | −322,372−60.6% | Reduced | History |
| FSMFortuna Mining Corp. | COM | 2,268,940 | $6.88M | 0.4% | −550,000−19.5% | Reduced | History |
| COPConocoPhillips | Stock | 62,922 | $7.40M | 0.5% | −10,680−14.5% | Reduced | History |
| NOVNOV Inc. | COM | 414,126 | $7.85M | 0.5% | −9,588−2.3% | Reduced | History |
| NEMNEWMONT Corp | Stock | 201,092 | $9.02M | 0.6% | −149,621−42.7% | Reduced | History |
| CTRACoterra Energy Inc. | Stock | 338,484 | $9.76M | 0.6% | 00.0% | Unchanged | History |
| SLBSLB Limited | Stock | 234,050 | $9.95M | 0.6% | −200,000−46.1% | Reduced | History |
| AEMAgnico Eagle Mines Ltd | Stock | 230,756 | $10.4M | 0.7% | −37,610−14.0% | Reduced | History |
| ATVIActivision Blizzard, Inc. | COM | 154,023 | $11.4M | 0.7% | +17,427+12.8% | Added | History |
| SCPLSciPlay Corp | CL A | 999,638 | $12.6M | 0.8% | +16,999+1.7% | Added | History |
| GAUGaliano Gold Inc. | COM | 26,378,459 | $12.8M | 0.8% | 00.0% | Unchanged | History |
| GFIGold Fields Ltd | SPONSORED ADR | 1,484,809 | $13.0M | 0.8% | +115,870+8.5% | Added | History |
| JPMJPMorgan Chase & Co | Stock | 137,204 | $14.8M | 0.9% | −55,638−28.9% | Reduced | History |
| AZNAstraZeneca PLC | SPONSORED ADR | 278,987 | $15.3M | 1.0% | −30,711−9.9% | Reduced | History |
| LUVSouthwest Airlines Co | COM | 526,142 | $17.1M | 1.1% | −534,428−50.4% | Reduced | History |
| BKNGBooking Holdings Inc. | Stock | 10,019 | $17.1M | 1.1% | +10,019 | New | History |
| BABAAlibaba Group Holding Ltd | ADR | 211,411 | $17.8M | 1.1% | −909,093−81.1% | Reduced | History |
| Barrick Gold Corp067901108 | COM | 1,192,421 | $18.5M | 1.2% | −276,388−18.8% | Reduced | – |
| SYFSynchrony Financial | COM | 626,000 | $19.7M | 1.2% | +626,000 | New | History |
| WPMWheaton Precious Metals Corp. | COM | 577,641 | $19.9M | 1.2% | −2,448,599−80.9% | Reduced | History |
| COHRCoherent Corp. | COM | 554,317 | $21.0M | 1.3% | −93,911−14.5% | Reduced | History |
| FHIFederated Hermes, Inc. | CL B | 666,336 | $22.0M | 1.4% | −223,318−25.1% | Reduced | History |
| BMYBristol Myers Squibb Co | Stock | 339,231 | $23.8M | 1.5% | −1,207,574−78.1% | Reduced | History |
| PFEPfizer Inc | Stock | 554,775 | $23.9M | 1.5% | +10,090+1.9% | Added | History |
| CNCCentene Corp | Stock | 339,886 | $27.3M | 1.7% | −487−0.1% | Reduced | History |
| AUAngloGold Ashanti PLC | SPONSORED ADR | 1,963,389 | $29.0M | 1.8% | +201,000+11.4% | Added | History |
| BRK.BBerkshire Hathaway Inc | Stock | 108,516 | $30.0M | 1.9% | −21,736−16.7% | Reduced | History |
| GEGeneral Electric Co | Stock | 458,449 | $30.3M | 1.9% | +1,937+0.4% | Added | History |
| CGAUCenterra Gold Inc. | COM | 6,277,150 | $30.8M | 1.9% | +400,000+6.8% | Added | History |
| AMZNAmazon Com Inc | Stock | 286,615 | $34.5M | 2.2% | +286,615 | New | History |
| JXNJackson Financial Inc. | COM CL A | 1,126,886 | $35.2M | 2.2% | −234,266−17.2% | Reduced | History |
| METAMeta Platforms, Inc. | Stock | 290,584 | $40.4M | 2.5% | −49,419−14.5% | Reduced | History |
| GMGeneral Motors Co | COM | 1,199,331 | $41.5M | 2.6% | −1,024,270−46.1% | Reduced | History |
| XOMExxonMobil Holdings Corp | COM | 437,951 | $44.7M | 2.8% | +5,506+1.3% | Added | History |
| GDDYGoDaddy Inc. | CL A | 584,754 | $45.1M | 2.8% | +3,428+0.6% | Added | History |
| SCHWSchwab Charles Corp | Stock | 629,751 | $47.8M | 3.0% | −453,004−41.8% | Reduced | History |
| COTYCoty Inc. | COM CL A | 7,447,561 | $51.0M | 3.2% | +123,561+1.7% | Added | History |
| EXEExpand Energy Corp | COM | 550,304 | $55.9M | 3.5% | −956,815−63.5% | Reduced | History |
| HTZHertz Global Holdings, Inc | COM NEW | 3,509,507 | $60.7M | 3.8% | +677,327+23.9% | Added | History |
| KGCKinross Gold Corp | COM | 17,053,271 | $66.6M | 4.2% | −34,429,013−66.9% | Reduced | History |
| BPBP PLC | ADR | 2,352,300 | $73.1M | 4.6% | −337,700−12.6% | Reduced | History |
| RYAAYRyanair Holdings PLC | SPONSORED ADR | 1,329,741 | $81.8M | 5.1% | +1,329,741 | New | History |
| AXPAmerican Express Co | Stock | 587,760 | $83.7M | 5.2% | −328,952−35.9% | Reduced | History |
| CICigna Group | Stock | 421,936 | $123.7M | 7.7% | −703,777−62.5% | Reduced | History |
| ABEVAmbev S.A. | SPONSORED ADR | 46,700,133 | $142.1M | 8.9% | −34,813,108−42.7% | Reduced | History |
Sold out since Q2 2022 (9)
Positions held at the end of Q2 2022 that are gone from this filing.
| Security | Class | Shares in Q2 2022 | Value in Q2 2022 | % of portfolio in Q2 2022 | History |
|---|---|---|---|---|---|
| LMTLockheed Martin Corp | Stock | 73,853 | $31.8M | 1.2% | History |
| Yamana Gold Inc98462Y100 | COM | 1,881,916 | $8.76M | 0.3% | – |
| GLDSPDR Gold Trust | ETF | 7,470 | $1.26M | <0.1% | History |
| DVADavita Inc. | COM | 15,000 | $1.20M | <0.1% | History |
| OVVOvintiv Inc. | COM | 22,005 | $972.0K | <0.1% | History |
| APAAPA Corp | Stock | 26,000 | $907.0K | <0.1% | History |
| VIPSVipshop Holdings Ltd | SPONSORED ADS A | 44,768 | $443.0K | <0.1% | History |
| SHELShell plc | ADR | 7,500 | $392.0K | <0.1% | History |
| 4D Pharma PLC35085K109 | SPONSORED ADS | 195,954 | $320.0K | <0.1% | – |