Ruffer LLP
Net buyer this quarter
$2.83B
184
+$428M
35.6%
Holdings
| Company | Value | % of portfolio | % of company | POSITION CHANGE qoq % | First reported |
|---|---|---|---|---|---|
| Q2 2026 | |||||
 AMZN | $197M | 6.98% | 0.01% | +47.7% | Q3 2022 |
 MSFT | $169M | 5.99% | 0.01% | +45.1% | Q2 2013 |
 BABA | $121M | 4.29% | 0.07% | +8.0% | Q2 2017 |
 SW | $113M | 3.98% | 0.47% | -12.5% | Q3 2024 |
 BAC | $74.2M | 2.62% | 0.02% | -0.9% | Q2 2020 |
 FND | $73.3M | 2.59% | 1.16% | +12.2% | Q4 2025 |
 COIN | $72.9M | 2.58% | 0.19% | -65.3% | Q4 2025 |
 NTES | $62.5M | 2.21% | 0.02% | New | Q2 2026 |
 SLB | $62.3M | 2.20% | 0.09% | -13.0% | Q2 2022 |
 BP | $60M | 2.12% | Not reported | -22.6% | Q4 2021 |
 SOLV | $59.8M | 2.12% | 0.46% | -9.7% | Q3 2025 |
 SU | $54.2M | 1.92% | 0.08% | +0.6% | Q1 2023 |
 LAMR | $52.7M | 1.86% | Not reported | -0.1% | Q4 2025 |
| BF.B | $51.4M | 1.82% | 0.41% | -29.3% | Q1 2026 |
 YMM | $46.4M | 1.64% | Not reported | New | Q2 2026 |
 EQX | $46M | 1.63% | 0.60% | +14.8% | Q1 2020 |
 XOM | $42.9M | 1.52% | 0.01% | -2.3% | Q2 2013 |
 TCOM | $42.8M | 1.51% | 0.17% | New | Q2 2026 |
 JD | $39.1M | 1.38% | 0.11% | New | Q2 2026 |
 BKNG | $38.5M | 1.36% | 0.03% | +40.6% | Q1 2020 |
 EXE | $38.3M | 1.35% | 0.18% | Not reported | Q1 2021 |
 SPGI | $38.1M | 1.35% | 0.03% | New | Q2 2026 |
 UNP | $38M | 1.35% | 0.02% | -17.3% | Q4 2025 |
 TTE | $36.9M | 1.30% | 0.02% | New | Q2 2026 |
 BRK.B | $36.5M | 1.29% | Not reported | +711.0% | Q1 2014 |
 PNC | $35.8M | 1.27% | 0.04% | -1.3% | Q1 2023 |
 CP | $33.4M | 1.18% | 0.04% | +3.1% | Q4 2025 |
 SCHW | $33M | 1.17% | 0.02% | Not reported | Q2 2020 |
 VIST | $33M | 1.17% | 0.54% | -2.8% | Q4 2025 |
 SIG | $31M | 1.10% | 0.92% | +58.3% | Q4 2025 |
 EXP | $29.7M | 1.05% | 0.43% | +1138.0% | Q3 2018 |
 PFE | $27.1M | 0.96% | 0.02% | -2.1% | Q3 2013 |
 WBD | $24.5M | 0.87% | 0.04% | +64.1% | Q1 2026 |
 GAU | $24.2M | 0.86% | 5.00% | -1.7% | Q2 2020 |
 ARIS | $23.9M | 0.85% | 0.78% | -14.3% | Q3 2023 |
 EGO | $20.9M | 0.74% | 0.34% | -25.1% | Q4 2018 |
 KGC | $20.6M | 0.73% | 0.07% | +163.0% | Q2 2013 |
 DIS | $20.4M | 0.72% | 0.01% | +245.7% | Q4 2016 |
 ABNB | $20M | 0.71% | Not reported | New | Q2 2026 |
 VG | $19.9M | 0.70% | Not reported | +288.2% | Q1 2026 |
 FLR | $19.7M | 0.70% | 0.28% | Not reported | Q4 2016 |
 COO | $19.2M | 0.68% | 0.14% | +24.3% | Q2 2025 |
 CDE | $19.1M | 0.67% | 0.11% | +204.3% | Q3 2017 |
 MICC | $18.8M | 0.67% | 0.18% | +43.3% | Q4 2025 |
 IFF | $18.1M | 0.64% | 0.09% | -21.7% | Q3 2025 |
 WSE | $17M | 0.60% | Not reported | New | Q2 2026 |
 OGC | $16.7M | 0.59% | Not reported | New | Q2 2026 |
 SSRM | $16.5M | 0.58% | 0.28% | -20.3% | Q4 2018 |
 ALV | $15.9M | 0.56% | 0.18% | New | Q2 2026 |
 B | $15.8M | 0.56% | 0.03% | -24.4% | Q3 2025 |
| Q1 2026 | |||||
| COIN | $251M | 10.29% | 0.55% | +95.3% | Q4 2025 |
| BABA | $147M | 6.03% | 0.06% | +143.5% | Q2 2017 |
| AMZN | $117M | 4.80% | 0.01% | -16.4% | Q3 2022 |
| MSFT | $116M | 4.76% | 0.00% | Not reported | Q2 2013 |
| SW | $111M | 4.56% | 0.53% | -38.1% | Q3 2024 |
| BP | $98.9M | 4.05% | Not reported | -6.2% | Q4 2021 |
| SLB | $79.5M | 3.25% | 0.10% | +34.5% | Q2 2022 |
| BF.B | $72.4M | 2.96% | 0.58% | New | Q1 2026 |
| SU | $66.4M | 2.72% | 0.08% | +0.5% | Q1 2023 |
| BAC | $64.3M | 2.63% | 0.02% | -21.1% | Q2 2020 |
| EQX | $59.7M | 2.44% | 0.53% | -28.8% | Q1 2020 |
| SOLV | $56.3M | 2.30% | 0.50% | +39.9% | Q3 2025 |
| FND | $56.1M | 2.29% | 1.02% | +42.1% | Q4 2025 |
| XOM | $54.7M | 2.24% | 0.01% | +0.5% | Q2 2013 |
| LAMR | $43M | 1.76% | Not reported | +41.1% | Q4 2025 |
| UNP | $41.2M | 1.68% | 0.03% | +26.9% | Q4 2025 |
| VIST | $40.3M | 1.65% | 0.56% | +35.1% | Q4 2025 |
| ARIS | $34.8M | 1.42% | 0.91% | -29.3% | Q3 2023 |
 GE | $33.6M | 1.37% | 0.01% | +0.6% | Q3 2021 |
| GAU | $33.1M | 1.35% | 5.09% | -7.6% | Q2 2020 |
| PFE | $32.4M | 1.32% | 0.02% | -13.2% | Q3 2013 |
| EGO | $31M | 1.27% | 0.45% | -44.2% | Q4 2018 |
| PNC | $30.8M | 1.26% | 0.04% | -1.8% | Q1 2023 |
| CP | $29.5M | 1.21% | 0.04% | +81.4% | Q4 2025 |
| BKNG | $26M | 1.06% | 0.02% | Not reported | Q1 2020 |
| B | $23.4M | 0.96% | 0.03% | -12.2% | Q3 2025 |
| SSRM | $21.6M | 0.88% | 0.34% | Not reported | Q4 2018 |
| IFF | $21.2M | 0.87% | 0.11% | +22.8% | Q3 2025 |
| SIG | $19.3M | 0.79% | 0.57% | +22.9% | Q4 2025 |
| COO | $15.5M | 0.63% | 0.11% | -30.8% | Q2 2025 |
| WBD | $15.5M | 0.63% | 0.02% | New | Q1 2026 |
 NEM | $14.6M | 0.60% | 0.01% | -18.4% | Q2 2013 |
 MHK | $14.2M | 0.58% | 0.23% | Not reported | Q2 2018 |
 UHAL.B | $13.4M | 0.55% | Not reported | -1.9% | Q3 2025 |
 CGAU | $13M | 0.53% | 0.37% | -77.6% | Q2 2021 |
 PM | $11.9M | 0.49% | 0.00% | -62.0% | Q2 2013 |
 SKE | $11.9M | 0.49% | 0.33% | -51.0% | Q2 2022 |
 RGLD | $11.8M | 0.48% | 0.05% | -29.8% | Q3 2015 |
| MICC | $11.1M | 0.45% | 0.12% | +122.1% | Q4 2025 |
 ITRG | $10.8M | 0.44% | 2.19% | +32.6% | Q3 2020 |
| KGC | $10.2M | 0.42% | 0.03% | Not reported | Q2 2013 |
 AU | $9.59M | 0.39% | 0.02% | -69.4% | Q2 2015 |
 PAAS | $9.33M | 0.38% | 0.04% | -72.0% | Q1 2019 |
 KGS | $8.65M | 0.35% | 0.17% | New | Q1 2026 |
 AM | $8.01M | 0.33% | 0.07% | New | Q1 2026 |
 NFG | $7.76M | 0.32% | 0.09% | New | Q1 2026 |
 TRP | $7.7M | 0.31% | Not reported | New | Q1 2026 |
| VG | $7.28M | 0.30% | Not reported | New | Q1 2026 |
| CDE | $7.22M | 0.30% | 0.04% | +4.9% | Q3 2017 |
 BCE | $7.06M | 0.29% | 0.03% | New | Q1 2026 |
| Q4 2025 | |||||
| SW | $174M | 7.94% | 0.86% | +473.4% | Q3 2024 |
| COIN | $167M | 7.58% | 0.27% | New | Q4 2025 |
| AMZN | $155M | 7.07% | 0.01% | -0.2% | Q3 2022 |
| BAC | $91.9M | 4.18% | 0.02% | -10.9% | Q2 2020 |
| EQX | $81.5M | 3.71% | 0.74% | -33.1% | Q1 2020 |
| BP | $77.8M | 3.54% | Not reported | -2.6% | Q4 2021 |
| BABA | $70.6M | 3.22% | 0.00% | +25.0% | Q2 2017 |
| DIS | $64.7M | 2.94% | 0.03% | Not reported | Q4 2016 |
| EGO | $58M | 2.64% | 0.81% | +14.1% | Q4 2018 |
 EXR | $50.3M | 2.29% | 0.18% | +14.4% | Q3 2025 |
| SOLV | $48.8M | 2.22% | 0.35% | +196.1% | Q3 2025 |
| FND | $47.2M | 2.15% | 0.72% | New | Q4 2025 |
| CGAU | $47M | 2.14% | 1.63% | -44.9% | Q2 2021 |
| SU | $44.5M | 2.02% | 0.08% | +6.9% | Q1 2023 |
| SLB | $44.1M | 2.01% | 0.08% | Not reported | Q2 2022 |
| ARIS | $43.1M | 1.96% | 1.29% | -35.7% | Q3 2023 |
| XOM | $38.6M | 1.76% | 0.01% | +15.0% | Q2 2013 |
| GAU | $36.5M | 1.66% | 5.51% | -13.9% | Q2 2020 |
| GE | $36.2M | 1.65% | 0.01% | +16.9% | Q3 2021 |
| PFE | $33M | 1.50% | 0.02% | -34.6% | Q3 2013 |
| PAAS | $31.6M | 1.44% | 0.14% | -32.5% | Q1 2019 |
| PNC | $31.4M | 1.43% | 0.04% | +13.8% | Q1 2023 |
| UNP | $30.9M | 1.41% | 0.02% | New | Q4 2025 |
| PM | $30.4M | 1.38% | 0.01% | +99.1% | Q2 2013 |
| LAMR | $30.4M | 1.38% | Not reported | New | Q4 2025 |
| B | $28.4M | 1.29% | 0.04% | -63.9% | Q3 2025 |
| AU | $27.4M | 1.25% | 0.06% | -45.7% | Q2 2015 |
 NOMD | $26.8M | 1.22% | 1.50% | Not reported | Q2 2020 |
| COO | $25.6M | 1.17% | 0.16% | -76.8% | Q2 2025 |
 TECK | $21.4M | 0.98% | Not reported | -11.0% | Q1 2023 |
| SKE | $19.4M | 0.88% | 0.67% | -35.9% | Q2 2022 |
| VIST | $19.2M | 0.88% | 0.41% | New | Q4 2025 |
| NEM | $16.5M | 0.75% | 0.02% | -81.4% | Q2 2013 |
| IFF | $16M | 0.73% | 0.09% | +7.8% | Q3 2025 |
| SIG | $15.4M | 0.70% | 0.46% | New | Q4 2025 |
| CP | $15.2M | 0.69% | 0.02% | New | Q4 2025 |
| RGLD | $14.7M | 0.67% | 0.08% | -20.5% | Q3 2015 |
| UHAL.B | $14.3M | 0.65% | Not reported | +109.4% | Q3 2025 |
 AA | $14.2M | 0.64% | 0.10% | Not reported | Q1 2023 |
| ITRG | $12.1M | 0.55% | 1.65% | -4.8% | Q3 2020 |
 TSM | $9.49M | 0.43% | 0.00% | -84.8% | Q1 2023 |
 FHI | $7.81M | 0.36% | Not reported | +28.2% | Q2 2021 |
 FOXA | $7.55M | 0.34% | 10321000.00% | +18.4% | Q1 2019 |
 DV | $7.4M | 0.34% | 0.40% | New | Q4 2025 |
 MMS | $6.95M | 0.32% | 0.15% | Not reported | Q4 2024 |
| CDE | $6.54M | 0.30% | 0.06% | Not reported | Q3 2017 |
 TROW | $6.26M | 0.29% | 0.03% | +44.9% | Q3 2025 |
 CPA | $5.9M | 0.27% | 0.12% | +32.9% | Q4 2024 |
 SAIC | $5.81M | 0.26% | 0.13% | Not reported | Q1 2014 |
 SNX | $5.53M | 0.25% | 0.05% | +35.2% | Q4 2024 |
| Q3 2025 | |||||
| AMZN | $148M | 8.21% | 0.01% | -7.9% | Q3 2022 |
| EQX | $97M | 5.39% | 1.90% | +15.4% | Q1 2020 |
| BAC | $96.6M | 5.37% | 0.03% | -35.1% | Q2 2020 |
| COO | $92.4M | 5.14% | 0.68% | +444.2% | Q2 2025 |
| BP | $79.1M | 4.40% | Not reported | 0.0% | Q4 2021 |
| NEM | $74.5M | 4.14% | 0.08% | -82.3% | Q2 2013 |
| BABA | $68.8M | 3.82% | 0.00% | +12.3% | Q2 2017 |
| CGAU | $63.3M | 3.52% | 2.81% | -17.5% | Q2 2021 |
| B | $59M | 3.28% | 0.10% | New | Q3 2025 |
| TSM | $57.1M | 3.17% | 0.00% | +56.4% | Q1 2023 |
| PFE | $51.5M | 2.87% | 0.04% | +44.6% | Q3 2013 |
| EXR | $47.5M | 2.64% | 0.16% | New | Q3 2025 |
| AU | $41.6M | 2.31% | 0.12% | -48.5% | Q2 2015 |
| EGO | $40.8M | 2.27% | 0.69% | +29.2% | Q4 2018 |
| ARIS | $40.3M | 2.24% | 2.41% | -21.5% | Q3 2023 |
| SU | $39.1M | 2.18% | 0.08% | +0.6% | Q1 2023 |
| GAU | $36.2M | 2.01% | 6.46% | -12.3% | Q2 2020 |
| PAAS | $34.9M | 1.94% | 0.25% | -1.3% | Q1 2019 |
 FSLR | $34.6M | 1.93% | 0.15% | Not reported | Q4 2024 |
| SW | $33.4M | 1.86% | 0.15% | -82.7% | Q3 2024 |
| XOM | $31.4M | 1.74% | 0.01% | +0.6% | Q2 2013 |
 MRK | $31M | 1.72% | 0.01% | +305.6% | Q2 2013 |
| GE | $30.2M | 1.68% | 0.01% | +8.9% | Q3 2021 |
| PNC | $26.5M | 1.47% | 0.03% | +1.0% | Q1 2023 |
| SKE | $23.4M | 1.30% | 1.18% | -16.0% | Q2 2022 |
| TECK | $22.1M | 1.23% | Not reported | Not reported | Q1 2023 |
 UTHR | $20.3M | 1.13% | 0.11% | +351.0% | Q4 2024 |
 GILD | $20.2M | 1.12% | 0.01% | +304.3% | Q1 2015 |
 IQV | $19.6M | 1.09% | 0.06% | -50.5% | Q2 2025 |
 UHS | $18.1M | 1.01% | Not reported | New | Q3 2025 |
| RGLD | $16.6M | 0.92% | 0.13% | Not reported | Q3 2015 |
 RYAAY | $15.6M | 0.87% | 0.02% | -72.1% | Q3 2022 |
| PM | $15.4M | 0.86% | 0.01% | +1.0% | Q2 2013 |
| SOLV | $15.2M | 0.84% | 0.12% | New | Q3 2025 |
 CAKE | $14.5M | 0.81% | 0.53% | -10.8% | Q4 2024 |
| IFF | $13.6M | 0.75% | 0.09% | New | Q3 2025 |
 REGN | $12.1M | 0.67% | 0.02% | New | Q3 2025 |
| ITRG | $9.21M | 0.51% | 1.87% | -2.7% | Q3 2020 |
 AAUC | $8.72M | 0.48% | Not reported | -37.2% | Q2 2025 |
 NE | $8.19M | 0.45% | 0.18% | +1.3% | Q4 2022 |
| UHAL.B | $7.41M | 0.41% | Not reported | New | Q3 2025 |
 BMY | $6.84M | 0.38% | 0.01% | Not reported | Q2 2019 |
| FHI | $6.06M | 0.34% | Not reported | Not reported | Q2 2021 |
| FOXA | $5.5M | 0.31% | 8716400.00% | -62.2% | Q1 2019 |
 GOOGL | $5.46M | 0.30% | 0.00% | -93.3% | Q4 2015 |
 MLI | $4.85M | 0.27% | 0.04% | -31.5% | Q2 2025 |
 ENS | $4.69M | 0.26% | 0.11% | -36.5% | Q1 2025 |
 HRB | $4.65M | 0.26% | 0.07% | -26.8% | Q3 2020 |
 RPRX | $4.59M | 0.26% | 0.03% | -26.8% | Q2 2025 |
| BRK.B | $4.52M | 0.25% | Not reported | Not reported | Q1 2014 |