Ruffer LLP 13F, Q1 2024
Ruffer LLP · quarter ending 31 March 2024 · filed 8 May 2024 · SEC CIK 1426859
Common stock only: shares the fund reported owning at the quarter end, valued as filed.
Largest positions, Q1 2024
The 25 largest of 60 positions. Weights are against the whole filed book. Changes are in shares held, against the Q4 2023 filing.
| Company | Ticker | Value | % of book | vs Q4 2023 |
|---|---|---|---|---|
| NEWMONT CORP | NEM | $298.74M | 11.5% | +37% shares |
| BARRICK GOLD CORP | $202.27M | 7.8% | +27% shares | |
| ALIBABA GROUP HLDG LTD | BABA | $200.31M | 7.7% | -12% shares |
| PFIZER INC | PFE | $163.85M | 6.3% | unchanged |
| CITIGROUP INC | C | $153.24M | 5.9% | +46% shares |
| TAIWAN SEMICONDUCTOR MFG LTD | TSM | $145.87M | 5.6% | -35% shares |
| THE CIGNA GROUP | CI | $143.29M | 5.5% | +4% shares |
| KINROSS GOLD CORP | KGC | $136.68M | 5.3% | +12% shares |
| AMAZON COM INC | AMZN | $119.38M | 4.6% | -13% shares |
| AMBEV SA | ABEV | $106.08M | 4.1% | -17% shares |
| RYANAIR HOLDINGS PLC | RYAAY | $100.64M | 3.9% | -28% shares |
| BANK AMERICA CORP | BAC | $84.77M | 3.3% | +65% shares |
| EAST WEST BANCORP INC | EWBC | $83.87M | 3.2% | +5% shares |
| COTY INC | COTY | $65.73M | 2.5% | -7% shares |
| CENTERRA GOLD INC | CGAU | $51.77M | 2.0% | +5% shares |
| BP PLC | BP | $38.91M | 1.5% | -8% shares |
| GENERAL ELECTRIC CO | GE | $38.70M | 1.5% | -32% shares |
| AGNICO EAGLE MINES LTD | AEM | $36.02M | 1.4% | -24% shares |
| GALIANO GOLD INC | GAU | $33.47M | 1.3% | -8% shares |
| HESS CORP | $32.24M | 1.2% | new | |
| JACKSON FINANCIAL INC | JXN | $31.85M | 1.2% | -59% shares |
| FOMENTO ECONOMICO MEXICANO S | XOM | $28.25M | 1.1% | -27% shares |
| SUNCOR ENERGY INC NEW | SU | $27.13M | 1.0% | -3% shares |
| WHEATON PRECIOUS METALS CORP | WPM | $25.01M | 1.0% | +164% shares |
| MARKEL GROUP INC | MTB | $23.19M | 0.9% | unchanged |
What changed since Q4 2023
Against the Q4 2023 filing, Ruffer LLP opened 3 new positions, added to 16, trimmed 23, left 18 unchanged and exited 10. Every position is compared, matched on its CUSIP; a change of 2% or less in shares counts as unchanged.
Exited
- KVUEwas $74.27M
- NOVwas $14.48M
- FORTUNA SILVER MINES INCwas $11.80M
- AAwas $11.41M
- LIVENT CORPwas $9.06M
- SSRMwas $7.99M
- PIONEER NAT RES COwas $5.42M
- TECKwas $4.93M
and 2 more
Other quarters
Source: SEC Form 13F-HR, accession 0001426859-24-000004, filed by Ruffer LLP. Values are as filed and cover US-listed positions only; a 13F does not show short positions or holdings outside the US. A 13F may be filed up to 45 days after the quarter ends, so the fund may have traded since. Educational information, not financial advice.