Q3 2025 · 13F-HR
Ruffer LLPholdings as filed
Filed 2025-11-03 · accession 0001426859-25-000012
$1.80B
Reported value
101
Positions
2025-09-30
Period end
The Brief · Ruffer LLP · Q3 2025
AI · grounded in 13F
Ruffer LLP established a new position in AMZN valued at $147.7M. The fund also initiated new stakes in EQX for $97M and BAC for $96.6M. Other new additions include COO at $92.4M and BP at $79.1M. Total assets under management stand at $1.79B across 101 positions.
Holdings as filed
| CUSIP | Ticker | Issuer | Value | % port. | Shares | Class | Voting |
|---|---|---|---|---|---|---|---|
| 023135106 | AMZN | AMAZON COM INC | $147.7M | 8.21% | 672,796 | Common | SOLE |
| 29446Y502 | EQX | EQUINOX GOLD CORP | $97.0M | 5.39% | 8,651,889 | Common | SOLE |
| 060505104 | BAC | BANK AMERICA CORP | $96.6M | 5.37% | 1,871,642 | Common | SOLE |
| 216648501 | COO | COOPER COS INC | $92.4M | 5.14% | 1,347,850 | Common | SOLE |
| 055622104 | BP | BP PLC | $79.1M | 4.40% | 2,294,780 | Common | SOLE |
| 651639106 | NEM | NEWMONT CORP | $74.5M | 4.14% | 884,017 | Common | SOLE |
| 01609W102 | BABA | ALIBABA GROUP HLDG LTD | $68.8M | 3.82% | 384,886 | Common | SOLE |
| 152006102 | CGAU | CENTERRA GOLD INC | $63.3M | 3.52% | 5,904,103 | Common | SOLE |
| 06849F108 | B | BARRICK MNG CORP | $59.0M | 3.28% | 1,800,635 | Common | SOLE |
| 874039100 | TSM | TAIWAN SEMICONDUCTOR MFG LTD | $57.1M | 3.17% | 204,387 | Common | SOLE |
| 717081103 | PFE | PFIZER INC | $51.5M | 2.87% | 2,023,065 | Common | SOLE |
| 30225T102 | EXR | EXTRA SPACE STORAGE INC | $47.5M | 2.64% | 336,942 | Common | SOLE |
| G0378L100 | AU | ANGLOGOLD ASHANTI PLC | $41.6M | 2.31% | 590,963 | Common | SOLE |
| 284902509 | EGO | ELDORADO GOLD CORP NEW | $40.8M | 2.27% | 1,412,740 | Common | SOLE |
| 04040Y109 | ARIS | ARIS MNG CORP | $40.3M | 2.24% | 4,114,728 | Common | SOLE |
| 867224107 | SU | SUNCOR ENERGY INC NEW | $39.1M | 2.18% | 935,037 | Common | SOLE |
| 36352H100 | GAU | GALIANO GOLD INC | $36.2M | 2.01% | 16,611,028 | Common | SOLE |
| 697900108 | PAAS | PAN AMERN SILVER CORP | $34.9M | 1.94% | 901,751 | Common | SOLE |
| 336433107 | FSLR | FIRST SOLAR INC | $34.6M | 1.93% | 157,055 | Common | SOLE |
| G8267P108 | SW | SMURFIT WESTROCK PLC | $33.4M | 1.86% | 785,589 | Common | SOLE |
| 30231G102 | XOM | EXXON MOBIL CORP | $31.4M | 1.74% | 278,242 | Common | SOLE |
| 58933Y105 | MRK | MERCK & CO INC | $31.0M | 1.72% | 368,848 | Common | SOLE |
| 369604301 | GE | GE AEROSPACE | $30.2M | 1.68% | 100,365 | Common | SOLE |
| 693475105 | PNC | PNC FINL SVCS GROUP INC | $26.5M | 1.47% | 131,909 | Common | SOLE |
| 83056P715 | SKE | SKEENA RES LTD NEW | $23.4M | 1.30% | 1,270,055 | Common | SOLE |
| 878742204 | TECK | TECK RESOURCES LTD | $22.1M | 1.23% | 502,602 | Common | SOLE |
| 91307C102 | UTHR | UNITED THERAPEUTICS CORP DEL | $20.3M | 1.13% | 48,545 | Common | SOLE |
| 375558103 | GILD | GILEAD SCIENCES INC | $20.2M | 1.12% | 182,343 | Common | SOLE |
| 46266C105 | IQV | IQVIA HLDGS INC | $19.6M | 1.09% | 102,970 | Common | SOLE |
| 913903100 | UHS | UNIVERSAL HLTH SVCS INC | $18.1M | 1.01% | 88,680 | Common | SOLE |
| 780287108 | RGLD | ROYAL GOLD INC | $16.6M | 0.92% | 82,940 | Common | SOLE |
| 783513203 | RYAAY | RYANAIR HOLDINGS PLC | $15.6M | 0.87% | 259,683 | Common | SOLE |
| 718172109 | PM | PHILIP MORRIS INTL INC | $15.4M | 0.86% | 95,079 | Common | SOLE |
| 83444M101 | SOLV | SOLVENTUM CORP | $15.2M | 0.84% | 207,557 | Common | SOLE |
| 163072101 | CAKE | CHEESECAKE FACTORY INC | $14.5M | 0.81% | 265,599 | Common | SOLE |
| 459506101 | IFF | INTERNATIONAL FLAVORS&FRAGRA | $13.6M | 0.75% | 220,210 | Common | SOLE |
| 75886F107 | REGN | REGENERON PHARMACEUTICALS | $12.1M | 0.67% | 21,540 | Common | SOLE |
| 45826T509 | ITRG | INTEGRA RES CORP | $9.2M | 0.51% | 3,156,453 | Common | SOLE |
| 01921D204 | AAUC | ALLIED GOLD CORP | $8.7M | 0.48% | 498,940 | Common | SOLE |
| G65431127 | NE | NOBLE CORP PLC | $8.2M | 0.45% | 289,439 | Common | SOLE |
| 023586506 | UHAL/B | U HAUL HOLDING COMPANY | $7.4M | 0.41% | 145,669 | Common | SOLE |
| 110122108 | BMY | BRISTOL-MYERS SQUIBB CO | $6.8M | 0.38% | 151,760 | Common | SOLE |
| 314211103 | FHI | FEDERATED HERMES INC | $6.1M | 0.34% | 116,781 | Common | SOLE |
| 35137L105 | FOXA | FOX CORP | $5.5M | 0.31% | 87,164 | Common | SOLE |
| 02079K305 | GOOGL | ALPHABET INC | $5.5M | 0.30% | 22,450 | Common | SOLE |
| 624756102 | MLI | MUELLER INDS INC | $4.9M | 0.27% | 47,988 | Common | SOLE |
| 29275Y102 | ENS | ENERSYS | $4.7M | 0.26% | 41,526 | Common | SOLE |
| 093671105 | HRB | BLOCK H & R INC | $4.6M | 0.26% | 91,950 | Common | SOLE |
| G7709Q104 | RPRX | ROYALTY PHARMA PLC | $4.6M | 0.26% | 130,184 | Common | SOLE |
| 084670702 | BRK/B | BERKSHIRE HATHAWAY INC DEL | $4.5M | 0.25% | 9,000 | Common | SOLE |
| 042735100 | ARW | ARROW ELECTRS INC | $4.5M | 0.25% | 36,923 | Common | SOLE |
| 87162W100 | SNX | TD SYNNEX CORPORATION | $4.5M | 0.25% | 27,194 | Common | SOLE |
| 20030N101 | CMCSA | COMCAST CORP NEW | $4.4M | 0.24% | 139,073 | Common | SOLE |
| G4474Y214 | JHG | JANUS HENDERSON GROUP PLC | $4.4M | 0.24% | 98,157 | Common | SOLE |
| P31076105 | CPA | COPA HOLDINGS SA | $4.4M | 0.24% | 36,729 | Common | SOLE |
| 74144T108 | TROW | PRICE T ROWE GROUP INC | $4.3M | 0.24% | 42,144 | Common | SOLE |
| 595112103 | MU | MICRON TECHNOLOGY INC | $4.3M | 0.24% | 25,664 | Common | SOLE |
| 42824C109 | HPE | HEWLETT PACKARD ENTERPRISE C | $4.0M | 0.22% | 164,531 | Common | SOLE |
| 099724106 | BWA | BORGWARNER INC | $4.0M | 0.22% | 91,181 | Common | SOLE |
| 403949100 | DINO | HF SINCLAIR CORP | $3.9M | 0.22% | 74,875 | Common | SOLE |
| 11271J107 | BN | BROOKFIELD CORP | $3.9M | 0.22% | 56,500 | Common | SOLE |
| 501889208 | LKQ | LKQ CORP | $3.8M | 0.21% | 124,210 | Common | SOLE |
| 894164102 | TNL | TRAVEL PLUS LEISURE CO | $3.8M | 0.21% | 63,583 | Common | SOLE |
| 45337C102 | INCY | INCYTE CORP | $3.7M | 0.21% | 44,135 | Common | SOLE |
| 366505105 | GTX | GARRETT MOTION INC | $3.7M | 0.20% | 270,470 | Common | SOLE |
| 928254101 | VIRT | VIRTU FINL INC | $3.7M | 0.20% | 103,237 | Common | SOLE |
| 128030202 | CALM | CAL MAINE FOODS INC | $3.6M | 0.20% | 38,089 | Common | SOLE |
| 258278100 | DORM | DORMAN PRODS INC | $3.5M | 0.19% | 22,392 | Common | SOLE |
| L6388F110 | TIGO | MILLICOM INTL CELLULAR S A | $3.5M | 0.19% | 71,312 | Common | SOLE |
| 690742101 | OC | OWENS CORNING NEW | $3.4M | 0.19% | 24,382 | Common | SOLE |
| 30161Q104 | EXEL | EXELIXIS INC | $3.4M | 0.19% | 81,696 | Common | SOLE |
| 889478103 | TOL | TOLL BROTHERS INC | $3.3M | 0.18% | 23,670 | Common | SOLE |
| 04316A108 | APAM | ARTISAN PARTNERS ASSET MGMT | $3.0M | 0.17% | 70,061 | Common | SOLE |
| M46528101 | FRO | FRONTLINE PLC | $2.8M | 0.16% | 124,843 | Common | SOLE |
| 047649108 | ATKR | ATKORE INC | $2.8M | 0.16% | 44,841 | Common | SOLE |
| 82489W107 | SHLS | SHOALS TECHNOLOGIES GROUP IN | $2.7M | 0.15% | 369,142 | Common | SOLE |
| 91688F104 | UPWK | UPWORK INC | $2.7M | 0.15% | 146,239 | Common | SOLE |
| 57667L107 | MTCH | MATCH GROUP INC NEW | $2.7M | 0.15% | 76,595 | Common | SOLE |
| 03524A108 | BUD | ANHEUSER BUSCH INBEV SA/NV | $2.7M | 0.15% | 45,000 | Common | SOLE |
| 868459108 | SUPN | SUPERNUS PHARMACEUTICALS INC | $2.6M | 0.15% | 55,385 | Common | SOLE |
| 71424F105 | PR | PERMIAN RESOURCES CORP | $2.6M | 0.14% | 203,761 | Common | SOLE |
| 688239201 | OSK | OSHKOSH CORP | $2.5M | 0.14% | 18,991 | Common | SOLE |
| 55261F104 | MTB | M & T BK CORP | $2.2M | 0.12% | 11,240 | Common | SOLE |
| 40637H109 | HALO | HALOZYME THERAPEUTICS INC | $2.2M | 0.12% | 30,199 | Common | SOLE |
| 46625H100 | JPM | JPMORGAN CHASE & CO. | $2.2M | 0.12% | 7,000 | Common | SOLE |
| 14888U101 | CPRX | CATALYST PHARMACEUTICALS INC | $2.1M | 0.12% | 108,616 | Common | SOLE |
| 172967424 | C | CITIGROUP INC | $2.1M | 0.12% | 20,970 | Common | SOLE |
| 88031M109 | TS | TENARIS S A | $2.1M | 0.12% | 59,349 | Common | SOLE |
| 351858105 | FNV | FRANCO NEV CORP | $2.1M | 0.12% | 9,320 | Common | SOLE |
| 166764100 | CVX | CHEVRON CORP NEW | $1.7M | 0.09% | 11,000 | Common | SOLE |
| 66987E206 | NG | NOVAGOLD RES INC | $1.2M | 0.07% | 140,480 | Common | SOLE |
| 496902404 | KGC | KINROSS GOLD CORP | $1.1M | 0.06% | 43,604 | Common | SOLE |
| 086516101 | BBY | BEST BUY INC | $914,548 | 0.05% | 12,094 | Common | SOLE |
| G0457F107 | ARCO | ARCOS DORADOS HOLDINGS INC | $858,208 | 0.05% | 127,142 | Common | SOLE |
| 344419106 | FMX | FOMENTO ECONOMICO MEXICANO S | $789,040 | 0.04% | 8,000 | Common | SOLE |
| 29260V105 | DAVA | ENDAVA PLC | $582,400 | 0.03% | 64,000 | Common | SOLE |
| 38149E101 | GLDG | GOLDMINING INC | $491,139 | 0.03% | 401,996 | Common | SOLE |
| 949746101 | WMT2 | WELLS FARGO CO NEW | $419,100 | 0.02% | 5,000 | Common | SOLE |
| 78573L106 | SBRA | SABRA HEALTH CARE REIT INC | $352,035 | 0.02% | 18,886 | Common | SOLE |
| 74460D109 | PSA | PUBLIC STORAGE OPER CO | $332,178 | 0.02% | 1,150 | Common | SOLE |
| 87724P106 | TMHC | TAYLOR MORRISON HOME CORP | $221,992 | 0.01% | 3,363 | Common | SOLE |
Source: SEC EDGAR · raw 13F holdings as filed. The Class column shows the option type when reported (Put/Call) or Common when the issuer's equity is held directly. 13F discloses long positions only.