Ruffer LLP
- SEC CIK
- 0001426859
- Latest filing
- Jul 30, 2026
Holdings in Q4 2022
Holdings as of Dec 31, 2022, filed Feb 10, 2023. Long positions only; changes compare share counts with Q3 2022.
- Positions
- 91
- −4 vs. Q3 2022
- Portfolio value
- $1.49B
- −$108.4M (−6.8%) vs. Q3 2022
| Security | Class | Shares | Value | % of portfolio | Share change | Action | History |
|---|---|---|---|---|---|---|---|
| BRF SA10552T107 | SPONSORED ADR | 37,510 | $59.3K | <0.1% | 00.0% | Unchanged | – |
| EHTHeHealth, Inc. | COM | 15,185 | $73.9K | <0.1% | −154,592−91.1% | Reduced | History |
| MCKMcKesson Corp | Stock | 650 | $244.7K | <0.1% | 00.0% | Unchanged | History |
| AFLAflac Inc | Stock | 3,427 | $247.3K | <0.1% | 00.0% | Unchanged | History |
| MSFTMicrosoft Corp | Stock | 1,031 | $248.0K | <0.1% | 00.0% | Unchanged | History |
| CHKPCheck Point Software Technologies Ltd | ORD | 2,417 | $305.8K | <0.1% | 00.0% | Unchanged | History |
| AAPLApple Inc. | Stock | 3,210 | $418.4K | <0.1% | 00.0% | Unchanged | History |
| BUDAnheuser-Busch InBev SA/NV | ADR | 7,000 | $421.5K | <0.1% | 00.0% | Unchanged | History |
| DISWalt Disney Co | Stock | 5,125 | $446.6K | <0.1% | −20,696−80.2% | Reduced | History |
| SBSafe Bulkers, Inc. | COM | 163,788 | $478.9K | <0.1% | 00.0% | Unchanged | History |
| MRSHMarsh & McLennan Companies, Inc. | Stock | 2,900 | $481.6K | <0.1% | 00.0% | Unchanged | History |
| GLDSPDR Gold Trust | ETF | 3,293 | $560.4K | <0.1% | +3,293 | New | History |
| USASAmericas Gold & Silver Corp | COM | 1,199,493 | $693.0K | <0.1% | 00.0% | Unchanged | History |
| VIVTelefonica Brasil S.A. | SPONSORED ADS | 105,000 | $753.6K | 0.1% | +45,000+75.0% | Added | History |
| TIMBTim S.A. | SPONSORED ADR | 65,000 | $760.3K | 0.1% | +25,000+62.5% | Added | History |
| NEENextera Energy Inc | Stock | 9,700 | $813.3K | 0.1% | 00.0% | Unchanged | History |
| DOWDow Inc. | Stock | 16,363 | $827.2K | 0.1% | 00.0% | Unchanged | History |
| USBUS Bancorp DE | COM NEW | 19,000 | $831.5K | 0.1% | −300−1.6% | Reduced | History |
| WFCWells Fargo & Company | Stock | 22,000 | $911.3K | 0.1% | 00.0% | Unchanged | History |
| INVXInnovex International, Inc. | COM | 35,000 | $954.1K | 0.1% | 00.0% | Unchanged | History |
| FISVFiserv Inc | Stock | 10,000 | $1.01M | 0.1% | −4,000−28.6% | Reduced | History |
| MLMMartin Marietta Materials Inc | COM | 3,000 | $1.02M | 0.1% | 00.0% | Unchanged | History |
| CMICummins Inc | Stock | 4,300 | $1.05M | 0.1% | 00.0% | Unchanged | History |
| EQXEquinox Gold Corp. | COM | 320,765 | $1.06M | 0.1% | 00.0% | Unchanged | History |
| Imv Inc44974L301 | COM NEW | 441,952 | $1.10M | 0.1% | +441,952 | New | – |
| DBDeutsche Bank Aktiengesellschaft | NAMEN AKT | 95,850 | $1.12M | 0.1% | 00.0% | Unchanged | History |
| NXSTNexstar Media Group, Inc. | COMMON STOCK | 6,461 | $1.13M | 0.1% | 00.0% | Unchanged | History |
| LUVSouthwest Airlines Co | COM | 35,000 | $1.18M | 0.1% | −491,142−93.3% | Reduced | History |
| NTRNutrien Ltd. | COM | 16,580 | $1.21M | 0.1% | −44,000−72.6% | Reduced | History |
| EGOEldorado Gold Corp | COM | 145,733 | $1.22M | 0.1% | −50,000−25.5% | Reduced | History |
| JAZZJazz Pharmaceuticals plc | SHS USD | 7,702 | $1.23M | 0.1% | 00.0% | Unchanged | History |
| ARCOArcos Dorados Holdings Inc. | SHS CLASS -A - | 152,142 | $1.28M | 0.1% | 00.0% | Unchanged | History |
| GOROGoldgroup Mining Inc. | COM | 870,879 | $1.33M | 0.1% | −3000.0% | Reduced | History |
| ITRGIntegra Resources Corp. | COM NEW | 2,384,579 | $1.54M | 0.1% | 00.0% | Unchanged | History |
| DNOWDNOW Inc. | COM | 130,000 | $1.66M | 0.1% | 00.0% | Unchanged | History |
| IAGIamgold Corp | COM | 660,000 | $1.70M | 0.1% | −1,929,771−74.5% | Reduced | History |
| MKLMarkel Group Inc. | COM | 1,300 | $1.72M | 0.1% | 00.0% | Unchanged | History |
| ORAOrmat Technologies, Inc. | COM | 20,300 | $1.76M | 0.1% | 00.0% | Unchanged | History |
| FMXMexican Economic Development Inc | SPON ADR UNITS | 27,000 | $2.12M | 0.1% | +9,000+50.0% | Added | History |
| DRDDrdgold Ltd | SPON ADR REPSTG | 298,052 | $2.22M | 0.1% | 00.0% | Unchanged | History |
| GLDGGoldMining Inc. | COM | 2,301,996 | $2.61M | 0.2% | −200,000−8.0% | Reduced | History |
| DDDuPont de Nemours, Inc. | COM | 40,439 | $2.78M | 0.2% | +14,960+58.7% | Added | History |
| PMPhilip Morris International Inc. | Stock | 28,000 | $2.84M | 0.2% | 00.0% | Unchanged | History |
| JPMJPMorgan Chase & Co | Stock | 24,879 | $3.35M | 0.2% | −112,325−81.9% | Reduced | History |
| AZNAstraZeneca PLC | SPONSORED ADR | 57,930 | $3.94M | 0.3% | −221,057−79.2% | Reduced | History |
| CVXChevron Corp | Stock | 22,000 | $3.96M | 0.3% | 00.0% | Unchanged | History |
| SKESkeena Resources Ltd | Common Stock | 770,370 | $4.09M | 0.3% | +60,370+8.5% | Added | History |
| CNCCentene Corp | Stock | 50,169 | $4.13M | 0.3% | −289,717−85.2% | Reduced | History |
| TSTenaris SA | SPONSORED ADS | 119,083 | $4.20M | 0.3% | +119,083 | New | History |
| SSRMSSR Mining Inc. | Stock | 339,359 | $5.34M | 0.4% | 00.0% | Unchanged | History |
| SCHWSchwab Charles Corp | Stock | 64,405 | $5.38M | 0.4% | −565,346−89.8% | Reduced | History |
| BMYBristol Myers Squibb Co | Stock | 76,955 | $5.55M | 0.4% | −262,276−77.3% | Reduced | History |
| HTZHertz Global Holdings, Inc | COM NEW | 510,223 | $7.88M | 0.5% | −2,999,284−85.5% | Reduced | History |
| FSMFortuna Mining Corp. | COM | 2,118,940 | $7.98M | 0.5% | −150,000−6.6% | Reduced | History |
| NOVNOV Inc. | COM | 414,008 | $8.68M | 0.6% | −1180.0% | Reduced | History |
| BABAAlibaba Group Holding Ltd | ADR | 120,582 | $10.7M | 0.7% | −90,829−43.0% | Reduced | History |
| BTGB2GOLD Corp | COM | 2,997,676 | $10.7M | 0.7% | +2,030,893+210.1% | Added | History |
| ATVIActivision Blizzard, Inc. | COM | 160,065 | $12.3M | 0.8% | +6,042+3.9% | Added | History |
| SLBSLB Limited | Stock | 234,050 | $12.6M | 0.8% | 00.0% | Unchanged | History |
| NENoble Corp plc | ORD SHS A | 340,600 | $12.9M | 0.9% | +340,600 | New | History |
| AEMAgnico Eagle Mines Ltd | Stock | 255,220 | $13.3M | 0.9% | +24,464+10.6% | Added | History |
| GEGeneral Electric Co | Stock | 158,792 | $13.3M | 0.9% | −299,657−65.4% | Reduced | History |
| EXEExpand Energy Corp | COM | 145,569 | $13.8M | 0.9% | −404,735−73.5% | Reduced | History |
| GAUGaliano Gold Inc. | COM | 26,378,459 | $13.9M | 0.9% | 00.0% | Unchanged | History |
| WPMWheaton Precious Metals Corp. | COM | 414,353 | $16.2M | 1.1% | −163,288−28.3% | Reduced | History |
| GFIGold Fields Ltd | SPONSORED ADR | 1,688,774 | $17.6M | 1.2% | +203,965+13.7% | Added | History |
| COHRCoherent Corp. | COM | 564,867 | $19.9M | 1.3% | +10,550+1.9% | Added | History |
| LTHMLivent Corp. | COM | 1,073,025 | $21.4M | 1.4% | +863,374+411.8% | Added | History |
| BRK.BBerkshire Hathaway Inc | Stock | 70,177 | $21.8M | 1.5% | −38,339−35.3% | Reduced | History |
| BKNGBooking Holdings Inc. | Stock | 11,851 | $24.0M | 1.6% | +1,832+18.3% | Added | History |
| FHIFederated Hermes, Inc. | CL B | 660,336 | $24.0M | 1.6% | −6,000−0.9% | Reduced | History |
| GMGeneral Motors Co | COM | 788,681 | $26.6M | 1.8% | −410,650−34.2% | Reduced | History |
| PFEPfizer Inc | Stock | 562,915 | $28.9M | 1.9% | +8,140+1.5% | Added | History |
| GDDYGoDaddy Inc. | CL A | 392,440 | $29.4M | 2.0% | −192,314−32.9% | Reduced | History |
| AUAngloGold Ashanti PLC | SPONSORED ADR | 1,535,159 | $29.9M | 2.0% | −428,230−21.8% | Reduced | History |
| MTBM&T Bank Corp | COM | 227,263 | $33.1M | 2.2% | +219,763+2,930.2% | Added | History |
| CGAUCenterra Gold Inc. | COM | 6,677,150 | $34.6M | 2.3% | +400,000+6.4% | Added | History |
| XOMExxonMobil Holdings Corp | COM | 362,848 | $40.2M | 2.7% | −75,103−17.1% | Reduced | History |
| METAMeta Platforms, Inc. | Stock | 348,410 | $42.1M | 2.8% | +57,826+19.9% | Added | History |
| JXNJackson Financial Inc. | COM CL A | 1,302,076 | $45.4M | 3.1% | +175,190+15.5% | Added | History |
| NEMNEWMONT Corp | Stock | 1,016,244 | $48.1M | 3.2% | +815,152+405.4% | Added | History |
| AXPAmerican Express Co | Stock | 331,884 | $49.2M | 3.3% | −255,876−43.5% | Reduced | History |
| AMZNAmazon Com Inc | Stock | 609,669 | $51.4M | 3.4% | +323,054+112.7% | Added | History |
| COTYCoty Inc. | COM CL A | 6,453,803 | $55.4M | 3.7% | −993,758−13.3% | Reduced | History |
| SYFSynchrony Financial | COM | 2,024,500 | $66.7M | 4.5% | +1,398,500+223.4% | Added | History |
| KGCKinross Gold Corp | COM | 16,679,124 | $68.3M | 4.6% | −374,147−2.2% | Reduced | History |
| BPBP PLC | ADR | 2,350,000 | $82.3M | 5.5% | −2,300−0.1% | Reduced | History |
| Barrick Gold Corp067901108 | COM | 4,895,407 | $84.3M | 5.7% | +3,702,986+310.5% | Added | – |
| CICigna Group | Stock | 279,330 | $92.9M | 6.2% | −142,606−33.8% | Reduced | History |
| RYAAYRyanair Holdings PLC | SPONSORED ADR | 1,267,454 | $95.1M | 6.4% | −62,287−4.7% | Reduced | History |
| ABEVAmbev S.A. | SPONSORED ADR | 42,843,210 | $117.1M | 7.9% | −3,856,923−8.3% | Reduced | History |
Sold out since Q3 2022 (8)
Positions held at the end of Q3 2022 that are gone from this filing.
| Security | Class | Shares in Q3 2022 | Value in Q3 2022 | % of portfolio in Q3 2022 | History |
|---|---|---|---|---|---|
| SCPLSciPlay Corp | CL A | 999,638 | $12.6M | 0.8% | History |
| CTRACoterra Energy Inc. | Stock | 338,484 | $9.76M | 0.6% | History |
| COPConocoPhillips | Stock | 62,922 | $7.40M | 0.5% | History |
| YAlleghany Corp | COM | 6,000 | $5.06M | 0.3% | History |
| NOCNorthrop Grumman Corp | Stock | 9,330 | $4.52M | 0.3% | History |
| Imv Inc44974L103 | COM | 4,419,545 | $2.11M | 0.1% | – |
| NOMDNomad Foods Ltd | USD ORD SHS | 30,000 | $424.0K | <0.1% | History |
| HTZWWHertz Global Holdings, Inc | Common Stock | 11,150 | $103.0K | <0.1% | History |