Q2 2026 13F · SEC CIK 1426859

Ruffer LLP

Hedge fundFiled 2026-07-30 for Q2 2026. Open the filing ↗ · All SEC filings ↗

Reported 13F value: $2.8B
Reported positions: 187
Top holdings a year, 3 yrs: +32.9%
Assets under management: $24.9B

Ruffer LLP is a hedge fund that reported 187 positions worth $2.8B in its Q2 2026 13F, filed 2026-07-30. Its largest holdings were Amazon Com Inc Com (AMZN, 7.0%), Microsoft Corp (MSFT, 6.0%), Alibaba Group Hldg Ltd (BABA, 4.3%). A portfolio copying its top holdings returned 32.9% a year over the last 3 years, against 20.4% for the S&P 500.

Ruffer LLP holdings largest 50 of 187 positions.

Weights are shares of the filer's total reported 13F value, compared with Q1 2026. Share changes may reflect splits; weight changes also reflect price moves. A 13F shows long US-listed positions only, up to 135 days after the fact.

Ruffer LLP 13F holdings
Stock	% of 13F value	Q1 2026	Shares	Share change	Reported value
AMZNAmazon Com Inc Com	7.0%	4.8%	829,118	+47.7%	$197.4M
MSFTMicrosoft Corp	6.0%	4.8%	454,873	+45.1%	$169.5M
BABAAlibaba Group Hldg Ltd	4.3%	6.0%	1,265,069	+8.0%	$121.3M
SWSmurfit Westrock PLC	4.0%	4.6%	2,438,889	-12.5%	$112.7M
BACBank of Amer Corp	2.6%	2.6%	1,304,202	-0.9%	$74.2M
FNDFloor & Decor Hldgs Inc	2.6%	2.3%	1,235,490	+12.2%	$73.3M
COINCoinbase Global Inc	2.6%	10.3%	499,000	-65.3%	$72.9M
NTESNetEase Inc	2.2%	—	487,913	—	$62.5M
SLBSlb Limited	2.2%	3.3%	1,341,534	-13.0%	$62.3M
BPBp PLC Sponsored ADR ADR	2.1%	4.0%	1,624,940	-22.5%	$60.0M
SOLVSolventum Corp	2.1%	2.3%	776,468	-9.7%	$59.8M
SUSuncor Energy Inc New	1.9%	2.7%	1,009,746	+0.6%	$54.2M
LAMRLamar Advertising Co	1.9%	1.8%	338,207	-0.1%	$52.7M
BF-BBrown-Forman B	1.8%	3.0%	1,931,956	-29.3%	$51.4M
YMMFull Truck Alliance Co Ltd	1.6%	—	5,724,180	—	$46.4M
EQXEquinox Gold Corp	1.6%	2.4%	4,736,428	+14.8%	$46.0M
XOMExxon Mobil Corp	1.5%	2.2%	314,224	-2.3%	$42.9M
TCOMTrip Com Group Ltd	1.5%	—	1,075,096	—	$42.8M
JDJd.com Inc	1.4%	—	1,537,181	—	$39.1M
BKNGBooking Holdings Inc Com	1.4%	1.1%	215,996	+3413.8%	$38.5M
EXEExpand Energy Corporation	1.4%	—	420,557	—	$38.3M
SPGIS&P Global Inc.	1.3%	—	93,768	—	$38.1M
UNPUnion Pac Corp	1.3%	1.7%	140,019	-17.3%	$38.0M
TTETotalenergies SE Act	1.3%	—	474,930	—	$36.9M
BRK-BBerkshire Hathaway Inc Del	1.3%	—	72,990	—	$36.5M
PNCPnc Finl Svcs Group Inc	1.3%	1.3%	145,485	-1.3%	$35.8M
CPCanadian Pacific Kansas City	1.2%	1.2%	386,182	+3.1%	$33.4M
SCHWSchwab Charles Corp	1.2%	—	358,432	—	$33.0M
VISTVista Energy S.a.b. de C.v.	1.2%	1.6%	518,201	-2.8%	$33.0M
SIGSignet Jewelers Limited	1.1%	0.8%	360,278	+58.3%	$31.0M
EXPEagle Materials Inc	1.0%	—	131,978	—	$29.7M
PFEPfizer Inc	1.0%	1.3%	1,126,006	-2.1%	$27.1M
WBDWarner Bros Discovery Inc	0.9%	0.6%	920,507	+64.1%	$24.5M
GAUGaliano Gold Inc	0.9%	1.4%	12,994,532	-1.7%	$24.2M
ARISAris Mining Corporation	0.8%	1.4%	1,605,529	-14.3%	$23.9M
EGOEldorado Gold Corp New	0.7%	1.3%	674,029	-25.1%	$20.9M
KGCKinross Gold Corp	0.7%	0.4%	874,179	+163.0%	$20.6M
DISDisney Walt Co	0.7%	—	211,815	—	$20.4M
ABNBAirbnb Inc	0.7%	—	139,870	—	$20.0M
VGVenture Global Inc	0.7%	0.3%	1,789,003	+288.2%	$19.9M
FLRFluor Corp	0.7%	—	375,643	—	$19.7M
COOCooper Cos Inc	0.7%	0.6%	268,591	+24.2%	$19.2M
CDECoeur Mng Inc	0.7%	0.3%	1,168,748	+204.3%	$19.1M
MICCThe Magnum Ice Cream Company N.V.	0.7%	0.5%	1,082,605	+43.3%	$18.8M
IFFInternational Flavors&fragra	0.6%	0.9%	228,297	-21.7%	$18.1M
WPLCFWise Group PLC	0.6%	—	1,415,047	—	$17.0M
OCANFOceanagold Corp	0.6%	—	667,801	—	$16.7M
SSRMSsr Mining in	0.6%	0.9%	583,120	-20.3%	$16.5M
ALVAutoliv Inc	0.6%	—	137,005	—	$15.9M
BBarrick Mng Corp	0.6%	1.0%	431,774	-24.4%	$15.8M

What Ruffer LLP bought and sold in Q2 2026, against Q1 2026.

New positions

Q1 2026's filing was too long to tell new positions apart.

Share counts compared with the Q1 2026 13F; a split also changes share counts. The latest filing lists more than 50 positions, so a position that left the top 50 may still be held.

How the holdings did against the S&P 500.

1 year: +37.5% /yr; S&P 500 +20.1%
3 years: +32.9% /yr; S&P 500 +20.4%
5 years: +21.3% /yr; S&P 500 +11.6%

A portfolio of the filer's 20 largest 13F positions, weighted by value and rebuilt each quarter on the day the filing became public. 13Fs show long US-listed positions only, so this is an estimate of the stock picks, not the fund's reported returns.

Reported 13F value by quarter.

13F value by quarter
Quarter	13F value	Positions
Q2 2026	$2.8B	187
Q1 2026	$2.4B	176
Q4 2025	$2.2B	154
Q3 2025	$1.8B	101
Q2 2025	$2.3B	98
Q1 2025	$2.6B	94
Q4 2024	$2.8B	101
Q3 2024	$3.2B	56
Q2 2024	$2.3B	53
Q1 2024	$2.6B	60
Q4 2023	$2.7B	67
Q3 2023	$1.8B	66

Questions about Ruffer LLP's portfolio

What stocks does Ruffer LLP own?

Ruffer LLP's latest 13F, for Q2 2026 and filed Jul 30, 2026, lists 187 positions worth $2.8B. The largest are Amazon Com Inc Com (AMZN) at 7.0%, Microsoft Corp (MSFT) at 6.0%, Alibaba Group Hldg Ltd (BABA) at 4.3%, Smurfit Westrock PLC (SW) at 4.0% and Bank of Amer Corp (BAC) at 2.6%.

What did Ruffer LLP buy last quarter?

In Q2 2026, Ruffer LLP added Booking Holdings Inc Com (BKNG) (+3413.8% shares), Venture Global Inc (VG) (+288.2% shares) and Coeur Mng Inc (CDE) (+204.3% shares), compared with its Q1 2026 filing.

What did Ruffer LLP sell last quarter?

In Q2 2026, Ruffer LLP cut from its top 50 Ge Aerospace (GE), cut from its top 50 Newmont Corp (NEM), cut from its top 50 Mohawk Inds Inc (MHK), cut from its top 50 U Haul Holding Company Com Ser N (UHALB), cut from its top 50 Centerra Gold Inc (CGAU), Coinbase Global Inc (COIN) (-65.3% shares), Brown-Forman B (BF-B) (-29.3% shares) and Eldorado Gold Corp New (EGO) (-25.1% shares), compared with its Q1 2026 filing.

How has Ruffer LLP's portfolio performed?

A portfolio copying Ruffer LLP's 20 largest 13F holdings each quarter, from the day each filing was public, returned +32.9% a year over the last 3 years, against +20.4% for the S&P 500. Over 1 year: +37.5% against +20.1%. Over 5 years: +21.3% a year against +11.6%.

When is Ruffer LLP's next 13F filing due?

13F filings are due 45 days after each quarter ends. Ruffer LLP's filing for the quarter ending Sep 30, 2026 is due by Nov 14, 2026; this page updates the day after it is published.

How much money does Ruffer LLP manage?

Ruffer LLP reported $24.9B of regulatory assets under management on its latest SEC Form ADV. Its 13F, which covers only US-listed stocks and options, totals $2.8B.