Ruffer LLP

Registered adviser

CIK

1426859

Location

London, X0

Portfolio Value

Mid $2,831,466,949

Diversification

Diversified

Filing Date

Global Rank

#1,295 / 8,818 ▲ 9

Top Industry

Internet Retail 12.8%

Period ended 4 months ago

Filed Jul 30, 2026 · 3mo

26 quarters · since Mar 2020

Regulatory profile

From Form ADV, the SEC filer profile, 13D/13G type codes and N-CEN, never from the name.

Holder type

Registered adviser

Form ADV roster, Oct 1, 2026

Form ADV adviser

CRD 309733

Roster of Oct 1, 2026

Regulatory AUM

$24,868,231,931

Main clients

Pooled investment vehicles (53% of AUM)

Private funds

1 fund · Other private funds

Focus by fund count, roster of Oct 1, 2026

$4,947,147,187 gross assets

LEI

213800V2YODXDRX33B90

Private funds on Schedule D 7.B.(1)

As filed Oct 7, 2024; SEC's bulk Form ADV archive ends with 2024 filings.

$5,800,000,000 gross assets in 1 fund Other private funds $5,800,000,000 (1)

Form ADV history

Monthly rosters from Dec 2019; each row is a run with the same figures, newest first.

Rosters	Regulatory AUM	Main clients
Jul 2026 to Oct 2026	$24,868,231,931	Pooled investment vehicles (53%)
Jul 2025 to Jun 2026	$24,201,709,009	Diversified
Jul 2024 to Jun 2025	$27,091,528,633	Diversified
Jul 2023 to Jun 2024	$31,344,724,211	Diversified
May 2023 to Jun 2023	$31,592,072,008	Diversified
Jul 2022 to Apr 2023	$31,592,072,008	Diversified

2 earlier changes not shown.

Portfolio style

Measured from the filed 13F common-share book for Jun 30, 2026, never from the firm's own description.

Style

Diversified active

Top 10 weight 35.6%, 46.9 effective positions, active share 84.5% against the S&P 500 as of 2026-06-30; it meets none of the index-like, systematic-like or concentrated tests

Turnover

High turnover

111.7% over the last four quarters (100%+)

Horizon

Horizon unknown

The value-weighted holding period is at least 6.8 quarters, but 3.2% of the book was already held when coverage starts

Closest benchmark: the S&P 500 as of 2026-06-30, active share 84.5%; sector active share 42.2% against the combined 13F book's sector weights.

Over time 26 measured quarters

How the bands are measured

Style bands measure the filed 13F common-share book each closed quarter, tested in this order. Unknown: under $10,000,000 of valued equity or 5 stocks. Index-like (100+ stocks): active share of 20% or less against the closest benchmark, which is the S&P 500, S&P MidCap 400, S&P SmallCap 600, Russell 1000, Russell 2000, Nasdaq-100 or Dow Jones Industrial Average (weighted by an index-tracking fund's reported holdings or the index's constituents nearest the quarter end, over the names resolved to companies, and only when those are 90%+ of its weight) or every 13F filer's combined book, or index series holding 80%+ of the registered fund assets it advises (N-CEN) and equal to 50%+ of its book. Systematic-like: 500+ stocks, 100%+ annual turnover and a top 10 weight of 25% or less. Concentrated: a top 10 weight of 60%+ or 12 or fewer effective positions. Diversified active: none of these. Turnover is the smaller of buys and sells over average equity value, summed over four quarters: low under 30%, high 100%+. Horizon is the value-weighted number of quarters each position has been held: short under 4, long 12+.

Clone Performance

Build a hypothetical price-return history from this filer's public 13F holdings.

View clone backtest

Portfolio Concentration

187 tracked positions · as of Jun 30, 2026 · Δ vs Mar 31, 2026

Top Position

7.0%

−3.3 pts

Top 5

23.9%

−6.5 pts

Top 10

35.6%

−10.5 pts

HHI

213

Diversified−99

Portfolio Trend

26 quarters · across all stocks

Sector Breakdown

As of Jun 30, 2026

Sector	% Portfolio	Value	Positions
Consumer Cyclical	27.4%	$776,603,948	41
Energy	14.5%	$410,670,967	22
Technology	12.8%	$361,765,349	28
Basic Materials	12.5%	$354,022,404	30
Financial Services	11.8%	$334,016,246	18
Industrials	5.1%	$144,082,473	13
Healthcare	4.8%	$136,424,643	9
Communication Services	4.7%	$132,242,480	8
Consumer Defensive	4.1%	$117,161,533	14
Real Estate	1.9%	$53,116,147	2
Utilities	0.2%	$6,974,260	1
Unclassified	0.2%	$4,386,499	1

Last Quarter's Activity

Export CSV

Jun 30, 2026 vs Mar 31, 2026

Added To

Positions the filer increased

25 positions

Ticker	Company	Δ Shares	Shares	Value
OGG	Osisko Gold Group Inc.	+1,633,601	2,591,180	$6,374,302
VG	Venture Global, Inc.	+1,328,198	1,789,003	$19,911,603
CDE	Coeur Mining, Inc.	+784,716	1,168,748	$19,073,967
EQX	Equinox Gold Corp.	+609,593	4,736,428	$46,038,080
KGC	Kinross Gold Corp	+541,739	874,179	$20,648,107
ITRG	Integra Resources Corp.	+448,478	4,433,503	$10,064,051
WBD	Warner Bros. Discovery, Inc.	+359,418	920,507	$24,540,716
MICC	Magnum Ice Cream Co N.V.	+327,041	1,082,605	$18,848,153
AMZN	Amazon Com Inc	+267,591	829,118	$197,611,984
INFY	Infosys Ltd	+240,734	545,691	$5,724,298
BKNG	Booking Holdings Inc.	+209,849	215,996	$38,499,127
DIS	Walt Disney Co	+150,535	211,815	$20,387,193
G	Genpact LTD	+143,900	252,992	$6,957,280
MSFT	Microsoft Corp	+141,427	454,873	$169,676,726
FND	Floor & Decor Holdings, Inc.	+134,765	1,235,490	$73,338,686
SIG	Signet Jewelers Ltd	+132,643	360,278	$31,055,963
EXP	Eagle Materials Inc	+121,317	131,978	$29,695,050
RRR	Red Rock Resorts, Inc.	+107,601	154,858	$10,075,061
DT	Dynatrace, Inc.	+98,422	211,477	$9,285,955
BABA	Alibaba Group Holding Ltd	+93,840	1,265,069	$121,421,322
TNL	Travel & Leisure Co.	+76,006	83,502	$6,382,057
CNYA	iShares MSCI China A ETF	+73,790	114,530	$4,386,499
CTSH	Cognizant Technology Solutions Corp	+73,357	142,641	$5,524,485
BRK-B	Berkshire Hathaway Inc	+63,990	72,990	$36,523,466
AVT	Avnet Inc	+61,216	65,939	$5,856,701
No positions match the current search.

Trimmed

Positions the filer reduced

25 positions

Ticker	Company	Δ Shares	Shares	Value
COIN	Coinbase Global, Inc.	−936,990	499,000	$72,948,810
BF-B	Brown Forman Corp	−799,920	1,931,956	$51,486,627
BP	Bp PLC	−473,066	1,624,940	$60,041,533
SW	Smurfit Westrock plc	−347,308	2,438,889	$112,823,005
ARIS	Aris Mining Corp	−267,004	1,605,529	$23,938,437
DHT	DHT Holdings, Inc.	−254,292	11,445	$189,185
GAU	Galiano Gold Inc.	−230,000	12,994,532	$24,299,774
CGAU	Centerra Gold Inc.	−226,583	504,233	$7,997,135
EGO	Eldorado Gold Corp	−225,329	674,029	$20,955,561
SLB	Slb Limited	−200,552	1,341,534	$62,367,915
PAGS	PagSeguro Digital Ltd.	−187,130	12,095	$109,459
SSRM	Ssr Mining Inc.	−148,504	583,120	$16,490,633
B	Barrick Mining Corp	−139,651	431,774	$15,859,059
MHK	Mohawk Industries Inc	−128,080	16,220	$1,967,972
SKE	Skeena Resources Ltd	−115,170	283,866	$7,567,867
PAAS	Pan American Silver Corp	−109,558	60,745	$2,720,768
SOLV	Solventum Corp	−83,525	776,468	$59,904,506
GE	General Electric Co	−75,640	42,402	$15,846,899
IFF	International Flavors & Fragrances Inc	−63,316	228,297	$18,085,688
LTH	Life Time Group Holdings, Inc.	−63,151	52,084	$2,127,110
AU	AngloGold Ashanti PLC	−51,333	46,895	$3,793,336
DINO	HF Sinclair Corp	−34,024	41,146	$2,865,818
SNX	Td Synnex Corp	−33,316	5,347	$1,429,466
FRO	Frontline plc	−33,183	85,969	$2,990,861
ARW	Arrow Electronics, Inc.	−32,575	1,170	$249,689
No positions match the current search.

New Positions

Positions the filer opened this quarter

25 positions

Ticker	Company	Shares	Value
NTES	NetEase, Inc.	487,913	$62,521,171
YMM	Full Truck Alliance Co. Ltd.	5,724,180	$46,480,341
TCOM	Trip.com Group Ltd	1,075,096	$42,831,824
JD	JD.com, Inc.	1,537,181	$39,167,371
EXE	EXPAND ENERGY Corp	420,557	$38,350,592
SPGI	S&P Global Inc.	93,768	$38,187,954
TTE	TotalEnergies SE	474,930	$36,930,556
SCHW	Schwab Charles Corp	358,432	$33,072,520
ABNB	Airbnb, Inc.	139,870	$20,015,397
FLR	Fluor Corp	375,643	$19,679,936
WSE	Wise Group plc	1,415,047	$16,853,209
OGC	OceanaGold Corp	667,801	$16,748,449
ALV	Autoliv Inc	137,005	$15,915,870
AEM	Agnico Eagle Mines Ltd	63,411	$9,836,948
ADM	Archer-Daniels-Midland Co	96,890	$7,402,396
DTM	DT Midstream, Inc.	49,640	$7,284,173
DVN	Devon Energy Corp	171,460	$7,084,727
PNW	Pinnacle West Capital Corp	65,180	$6,974,260
GFI	Gold Fields Ltd	200,640	$6,739,497
SOBO	South Bow Corp	179,920	$6,340,380
HAPN	Happen, Inc.	298,095	$6,182,490
JAZZ	Jazz Pharmaceuticals plc	24,567	$5,919,909
STRA	Strategic Education, Inc.	74,454	$5,704,665
CNQ	CANADIAN NATURAL RESOURCES Ltd	136,720	$5,400,440
PRDO	PERDOCEO EDUCATION Corp	122,534	$3,921,088
No positions match the current search.

Sold Out

Positions the filer fully exited

25 positions

Ticker	Company	Shares	Value
UHAL-B	U-Haul Holding Co	299,133	$13,362,271
KGS	Kodiak Gas Services, Inc.	147,870	$8,623,778
NFG	National Fuel Gas Co	82,360	$7,738,545
LYB	LyondellBasell Industries N.V.	77,910	$6,276,429
CSX	Csx Corp	148,210	$6,084,020
EXEL	Exelixis, Inc.	117,923	$5,057,717
FLNG	Flex LNG Ltd.	144,610	$4,296,363
SMPL	Simply Good Foods Co	299,062	$4,291,539
LIN	Linde PLC	8,560	$4,243,705
GM	General Motors Co	54,616	$4,068,892
DD	DuPont de Nemours, Inc.	88,140	$4,036,811
SFL	SFL Corp Ltd.	350,080	$3,777,363
GTX	Garrett Motion Inc.	205,949	$3,742,093
PBI	Pitney Bowes Inc	328,645	$3,631,527
ESI	Element Solutions Inc	105,820	$3,612,694
ASH	Ashland Inc.	64,533	$3,588,680
VIRT	Virtu Financial, Inc.	81,146	$3,568,801
HRMY	Harmony Biosciences Holdings, Inc.	104,658	$2,931,470
ANF	Abercrombie & Fitch Co	30,270	$2,765,769
INDV	Indivior Pharmaceuticals, Inc.	90,247	$2,750,728
VVV	Valvoline Inc	80,326	$2,705,379
SGHC	Super Group (SGHC) Ltd	248,002	$2,678,421
W	Wayfair Inc.	31,465	$2,366,482
FBIN	Fortune Brands Innovations, Inc.	58,029	$2,261,390
MUSA	Murphy USA Inc.	4,522	$2,233,732
No positions match the current search.

Portfolio Positions

Compact Export CSV View 13F filing

187 tracked positions · $2,831,466,949 total · filing declares 187 positions · $2,828,353,027 · as of Jun 30, 2026

All sectors Basic Materials Communication Services Consumer Cyclical Consumer Defensive Energy Financial Services Healthcare Industrials Real Estate Technology Utilities

Showing 1–50 of 187 positions by value · page 1 of 4

Ticker	Company	Type	Shares	Δ Shares	Value (USD)	% Δ Value	Held (qtrs)	Est. cost/share	% of Portfolio
AMZN	Amazon Com Inc Consumer Cyclical	Added	829,118	+267,591	$197,611,984	+69.0%	16	$187.42	6.98%
MSFT	Microsoft Corp Technology	Added	454,873	+141,427	$169,676,726	+46.2%	2	$414.14	5.99%
BABA	Alibaba Group Holding Ltd Consumer Cyclical	Added	1,265,069	+93,840	$121,421,322	−17.4%	17	$131.41	4.29%
SW	Smurfit Westrock plc Consumer Cyclical	Reduced	2,438,889	-347,308	$112,823,005	+1.6%	5	$38.94	3.98%
BAC	Bank Of America Corp Financial Services	Reduced	1,304,202	-11,658	$74,313,429	+15.8%	13	$34.93	2.62%
FND	Floor & Decor Holdings, Inc. Consumer Cyclical	Added	1,235,490	+134,765	$73,338,686	+31.2%	3	$63.33	2.59%
COIN	Coinbase Global, Inc. Financial Services	Reduced	499,000	-936,990	$72,948,810	−70.9%	3	$248.62	2.58%
NTES	NetEase, Inc. Communication Services	NEW	487,913	NEW	$62,521,171	NEW	1	$118.02	2.21%
SLB	Slb Limited Energy	Reduced	1,341,534	-200,552	$62,367,915	−21.3%	3	$39.40	2.20%
BP	Bp PLC Energy	Reduced	1,624,940	-473,066	$60,041,533	−39.1%	19	$35.19	2.12%
SOLV	Solventum Corp Healthcare	Reduced	776,468	-83,525	$59,904,506	+6.7%	4	$75.14	2.12%
SU	Suncor Energy Inc Energy	Added	1,009,746	+5,684	$54,203,165	−18.3%	14	$34.75	1.91%
LAMR	Lamar Advertising Co Real Estate	Reduced	338,207	-283	$52,753,527	+23.0%	3	$126.88	1.86%
BF-B	Brown Forman Corp Consumer Defensive	Reduced	1,931,956	-799,920	$51,486,627	−28.7%	2	$26.86	1.82%
YMM	Full Truck Alliance Co. Ltd. Technology	NEW	5,724,180	NEW	$46,480,341	NEW	1	$8.51	1.64%
EQX	Equinox Gold Corp. Basic Materials	Added	4,736,428	+609,593	$46,038,080	−22.9%	8	$7.42	1.63%
XOM	ExxonMobil Holdings Corp Energy	Reduced	314,224	-7,482	$42,960,705	−21.3%	26+	before history	1.52%
TCOM	Trip.com Group Ltd Consumer Cyclical	NEW	1,075,096	NEW	$42,831,824	NEW	1	$49.59	1.51%
JD	JD.com, Inc. Consumer Cyclical	NEW	1,537,181	NEW	$39,167,371	NEW	1	$29.46	1.38%
BKNG	Booking Holdings Inc. Consumer Cyclical	Added	215,996	+209,849	$38,499,127	+48.8%	2	unpriced	1.36%
EXE	EXPAND ENERGY Corp Energy	NEW	420,557	NEW	$38,350,592	NEW	1	$94.98	1.35%
SPGI	S&P Global Inc. Financial Services	NEW	93,768	NEW	$38,187,954	NEW	1	unpriced	1.35%
UNP	Union Pacific Corp Industrials	Reduced	140,019	-29,237	$38,085,168	−7.3%	3	$231.77	1.35%
TTE	TotalEnergies SE Energy	NEW	474,930	NEW	$36,930,556	NEW	1	$88.44	1.30%
BRK-B	Berkshire Hathaway Inc Financial Services	Added	72,990	+63,990	$36,523,466	+746.9%	25	$448.07	1.29%
PNC	Pnc Financial Services Group, Inc. Financial Services	Reduced	145,485	-1,910	$35,821,316	+16.8%	14	$161.99	1.27%
CP	Canadian Pacific Kansas City Ltd Industrials	Added	386,182	+11,640	$33,462,670	+13.6%	3	$76.33	1.18%
SCHW	Schwab Charles Corp Financial Services	NEW	358,432	NEW	$33,072,520	NEW	1	$91.19	1.17%
VIST	Vista Energy, S.A.B. de C.V. Energy	Reduced	518,201	-14,719	$33,061,223	−17.8%	3	$48.61	1.17%
SIG	Signet Jewelers Ltd Consumer Cyclical	Added	360,278	+132,643	$31,055,963	+61.2%	3	$91.37	1.10%
EXP	Eagle Materials Inc Basic Materials	Added	131,978	+121,317	$29,695,050	+1370.3%	2	$209.40	1.05%
PFE	Pfizer Inc Healthcare	Reduced	1,126,006	-23,747	$27,114,224	−16.0%	21	$30.22	0.96%
WBD	Warner Bros. Discovery, Inc. Communication Services	Added	920,507	+359,418	$24,540,716	+59.3%	2	$27.63	0.87%
GAU	Galiano Gold Inc. Basic Materials	Reduced	12,994,532	-230,000	$24,299,774	−26.8%	25	$1.14	0.86%
ARIS	Aris Mining Corp Basic Materials	Reduced	1,605,529	-267,004	$23,938,437	−31.2%	12	$2.60	0.85%
EGO	Eldorado Gold Corp Basic Materials	Reduced	674,029	-225,329	$20,955,561	−32.1%	6	$18.83	0.74%
KGC	Kinross Gold Corp Basic Materials	Added	874,179	+541,739	$20,648,107	+103.5%	2	$30.67	0.73%
DIS	Walt Disney Co Communication Services	Added	211,815	+150,535	$20,387,193	+245.2%	3	$104.31	0.72%
ABNB	Airbnb, Inc. Consumer Cyclical	NEW	139,870	NEW	$20,015,397	NEW	1	$136.40	0.71%
VG	Venture Global, Inc. Energy	Added	1,789,003	+1,328,198	$19,911,603	+174.2%	2	$12.16	0.70%
FLR	Fluor Corp Industrials	NEW	375,643	NEW	$19,679,936	NEW	1	$48.96	0.70%
COO	Cooper Companies, Inc. Healthcare	Added	268,591	+52,420	$19,260,660	+24.6%	5	$70.61	0.68%
CDE	Coeur Mining, Inc. Basic Materials	Added	1,168,748	+784,716	$19,073,967	+164.6%	3	$18.02	0.67%
MICC	Magnum Ice Cream Co N.V. Consumer Defensive	Added	1,082,605	+327,041	$18,848,153	+66.9%	3	unpriced	0.67%
IFF	International Flavors & Fragrances Inc Basic Materials	Reduced	228,297	-63,316	$18,085,688	−14.5%	4	$69.33	0.64%
WSE	Wise Group plc Technology	NEW	1,415,047	NEW	$16,853,209	NEW	1	$11.94	0.60%
OGC	OceanaGold Corp Basic Materials	NEW	667,801	NEW	$16,748,449	NEW	1	$30.02	0.59%
SSRM	Ssr Mining Inc. Basic Materials	Reduced	583,120	-148,504	$16,490,633	−23.3%	2	$26.52	0.58%
ALV	Autoliv Inc Consumer Cyclical	NEW	137,005	NEW	$15,915,870	NEW	1	$118.85	0.56%
B	Barrick Mining Corp Basic Materials	Reduced	431,774	-139,651	$15,859,059	−32.0%	4	$25.34	0.56%

Showing the top 50 of 187 positions. Create a free account to see every position, past quarters, search, filters and CSV export.

Covers the securities this platform tracks: U.S.-listed common stock and the put/call positions reported on it. A 13F can also report security types outside that coverage — preferred shares, bonds, warrants, untracked share classes — so the filing's own declared total can exceed the figures above. The source filing is linked at the top of this table.