Ruffer LLP

hedge fundUpdated 42 days ago

Managed by Ruffer Llp • Latest filing Q2 2026

Portfolio value

$2.8B

Q2 2026

Filings

14

Quarterly 13F history

Top-10 concentration

100.0%

Weight of largest holdings

Annualized return

-0.6%

Implied from 13F holdings

Portfolio value history

13F-disclosed portfolio value over 14 quarters

Show data table

Period	Portfolio value
Q1 2023	$2.9B
Q2 2023	$1.7B
Q3 2023	$1.8B
Q4 2023	$2.7B
Q1 2024	$2.6B
Q2 2024	$2.3B
Q3 2024	$3.2B
Q4 2024	$2.8B
Q1 2025	$2.6B
Q2 2025	$2.3B
Q3 2025	$1.8B
Q4 2025	$2.2B
Q1 2026	$2.4B
Q2 2026	$2.8B

Top holdings

187 positions as of Q2 2026

#	Stock	Value	Shares	% Portfolio	Change
1	A AMZN AMAZON COM INC	$197.4M	829.1K	6.98%	Added(+47.6%)
2	M MSFT MICROSOFT CORP	$169.5M	454.9K	5.99%	Added(+45.1%)
3	B BBAAY ALIBABA GROUP HLDG LTD	$121.3M	1.27M	4.29%	Added(+8.0%)
4	S SW SMURFIT WESTROCK PLC	$112.7M	2.44M	3.98%	Trimmed(-12.5%)
5	B BAC-PS BANK AMERICA CORP	$74.2M	1.30M	2.62%	Trimmed(-0.9%)
6	F FND FLOOR & DECOR HLDGS INC	$73.3M	1.24M	2.59%	Added(+12.2%)
7	C COIN COINBASE GLOBAL INC	$72.9M	499.0K	2.58%	Trimmed(-65.3%)
8	? N/A NETEASE COM INC	$62.5M	487.9K	2.21%	—
9	R RPRX SLB LIMITED	$62.3M	1.34M	2.20%	Trimmed(-13.0%)
10	B BPPFF BP PLC	$60M	1.62M	2.12%	Trimmed(-22.6%)
11	S SOLV SOLVENTUM CORP	$59.8M	776.5K	2.12%	Trimmed(-9.7%)
12	S SU SUNCOR ENERGY INC NEW	$54.2M	1.01M	1.92%	Added(+0.6%)
13	L LAMR LAMAR ADVERTISING CO NEW	$52.7M	338.2K	1.86%	Trimmed(-0.1%)
14	B BF-B BROWN FORMAN CORP	$51.4M	1.93M	1.82%	Trimmed(-29.3%)
15	Y YMM FULL TRUCK ALLIANCE CO LTD	$46.4M	5.72M	1.64%	—
16	E EQX EQUINOX GOLD CORP	$46M	4.74M	1.63%	Added(+14.8%)
17	X XOM EXXON MOBIL CORP	$42.9M	314.2K	1.52%	Trimmed(-2.3%)
18	T TRPCF TRIP COM GROUP LTD	$42.8M	1.08M	1.51%	—
19	J JDCMF JD.COM INC	$39.1M	1.54M	1.38%	—
20	B BKNG BOOKING HOLDINGS INC	$38.5M	216.0K	1.36%	Added(+3413.8%)

A

AMAZON COM INC

+47.6%

Value

$197.4M

Shares

829.1K

% Port

6.98%

M

MICROSOFT CORP

+45.1%

Value

$169.5M

Shares

454.9K

% Port

5.99%

B

ALIBABA GROUP HLDG LTD

+8.0%

Value

$121.3M

Shares

1.27M

% Port

4.29%

S

4.SW

SMURFIT WESTROCK PLC

-12.5%

Value

$112.7M

Shares

2.44M

% Port

3.98%

B

BANK AMERICA CORP

-0.9%

Value

$74.2M

Shares

1.30M

% Port

2.62%

F

FLOOR & DECOR HLDGS INC

+12.2%

Value

$73.3M

Shares

1.24M

% Port

2.59%

C

COINBASE GLOBAL INC

-65.3%

Value

$72.9M

Shares

499.0K

% Port

2.58%

?

8.N/A

NETEASE COM INC

Value

$62.5M

Shares

487.9K

% Port

2.21%

R

SLB LIMITED

-13.0%

Value

$62.3M

Shares

1.34M

% Port

2.20%

B

BP PLC

-22.6%

Value

$60M

Shares

1.62M

% Port

2.12%

S

SOLVENTUM CORP

-9.7%

Value

$59.8M

Shares

776.5K

% Port

2.12%

S

12.SU

SUNCOR ENERGY INC NEW

+0.6%

Value

$54.2M

Shares

1.01M

% Port

1.92%

L

LAMAR ADVERTISING CO NEW

-0.1%

Value

$52.7M

Shares

338.2K

% Port

1.86%

B

BROWN FORMAN CORP

-29.3%

Value

$51.4M

Shares

1.93M

% Port

1.82%

Y

15.YMM

FULL TRUCK ALLIANCE CO LTD

Value

$46.4M

Shares

5.72M

% Port

1.64%

E

16.EQX

EQUINOX GOLD CORP

+14.8%

Value

$46M

Shares

4.74M

% Port

1.63%

X

17.XOM

EXXON MOBIL CORP

-2.3%

Value

$42.9M

Shares

314.2K

% Port

1.52%

T

TRIP COM GROUP LTD

Value

$42.8M

Shares

1.08M

% Port

1.51%

J

JD.COM INC

Value

$39.1M

Shares

1.54M

% Port

1.38%

B

BOOKING HOLDINGS INC

+3413.8%

Value

$38.5M

Shares

216.0K

% Port

1.36%

View full portfolio (187 holdings) →

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