Ruffer LLP 13F, Q1 2026
Ruffer LLP · quarter ending 31 March 2026 · filed 13 May 2026 · SEC CIK 1426859
Common stock only: shares the fund reported owning at the quarter end, valued as filed.
Largest positions, Q1 2026
The 25 largest of 176 positions. Weights are against the whole filed book. Changes are in shares held, against the Q4 2025 filing.
| Company | Ticker | Value | % of book | vs Q4 2025 |
|---|---|---|---|---|
| COINBASE GLOBAL INC | COIN | $251.46M | 10.3% | +95% shares |
| ALIBABA GROUP HLDG LTD | BABA | $147.37M | 6.0% | +144% shares |
| AMAZON COM INC | AMZN | $117.29M | 4.8% | -16% shares |
| MICROSOFT CORP | MSFT | $116.36M | 4.8% | new |
| SMURFIT WESTROCK PLC | $111.35M | 4.6% | -38% shares | |
| BP PLC | BP | $98.89M | 4.0% | -6% shares |
| SLB LIMITED | SLB | $79.48M | 3.3% | +35% shares |
| BROWN FORMAN CORP | BF/B | $72.44M | 3.0% | new |
| SUNCOR ENERGY INC NEW | SU | $66.39M | 2.7% | unchanged |
| BANK AMERICA CORP | BAC | $64.33M | 2.6% | -21% shares |
| EQUINOX GOLD CORP | EQX | $59.70M | 2.4% | -29% shares |
| SOLVENTUM CORP | SOLV | $56.32M | 2.3% | +40% shares |
| FLOOR & DECOR HLDGS INC | FND | $56.08M | 2.3% | +42% shares |
| EXXON MOBIL CORP | XOM | $54.74M | 2.2% | unchanged |
| LAMAR ADVERTISING CO NEW | LAMR | $43.00M | 1.8% | +41% shares |
| UNION PAC CORP | UNP | $41.18M | 1.7% | +27% shares |
| VISTA ENERGY S.A.B. DE C.V. | VIST | $40.33M | 1.6% | +35% shares |
| ARIS MNG CORP | ARIS | $34.76M | 1.4% | -29% shares |
| GE AEROSPACE | GE | $33.59M | 1.4% | unchanged |
| GALIANO GOLD INC | GAU | $33.07M | 1.4% | -8% shares |
| PFIZER INC | PFE | $32.38M | 1.3% | -13% shares |
| ELDORADO GOLD CORP NEW | EGO | $30.96M | 1.3% | -44% shares |
| PNC FINL SVCS GROUP INC | PNC | $30.76M | 1.3% | unchanged |
| CANADIAN PACIFIC KANSAS CITY | CP | $29.55M | 1.2% | +81% shares |
| BOOKING HOLDINGS INC | BKNG | $25.95M | 1.1% | new |
What changed since Q4 2025
Against the Q4 2025 filing, Ruffer LLP opened 90 new positions, added to 29, trimmed 40, left 17 unchanged and exited 68. Every position is compared, matched on its CUSIP; a change of 2% or less in shares counts as unchanged.
New positions
and 82 more
Exited
- EXRwas $50.28M
- NOMAD FOODS LTDwas $26.82M
- TECKwas $21.45M
- TFXwas $5.15M
- HRBwas $5.15M
- CALMwas $4.64M
- MUwas $4.45M
- SCORPIO TANKERS INCwas $4.37M
and 60 more
Other quarters
Source: SEC Form 13F-HR, accession 0001426859-26-000005, 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.