AI Portfolio Summary
In 2026 Q1, Ruffer LLP maintained a portfolio of 244 distinct positions. The most significant new addition to the portfolio was MICROSOFT CORP, which now represents 4.76% of the total fund value. They heavily accumulated shares in COINBASE GLOBAL INC, increasing their position by 95.3%. The fund also reduced its exposure to CENTERRA GOLD INC by 77.5%.
Total Positions
244
Quarter
2026 Q1
Top Holding
COIN (10.3%)
Top 10 Concentration
46.0%
Turnover Rate
23.4%
Sector HHI
0.18
Items per page:
Showing 1-50 of 244
| Stock | History | Sector / Type | Port % | Prev % | Rank / Prev | Conviction | Change | % Change | Influence | Shares | Mkt Value | Avg Cost | Price Held | 1st Owned | Source | Source Date | Date Reported |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
|
COIN
COINBASE GLOBAL...
|
Financial Services | 10.29% | 7.58% |
#1
1
Prev: #2
|
9.0 | 700,800 | 95.3% |
P
S
|
1,435,990 | $251,457,767 | 2025 Q4 | 13F Filing | 2026-03-31 | 2026-05-13 | |||
|
BABA
ALIBABA GROUP H...
|
Consumer Cyclical | 6.03% | 3.22% |
#2
5
Prev: #7
|
6.9 | 690,165 | 143.5% |
P
S
|
1,171,229 | $147,367,855 | 2017 Q2 | 13F Filing | 2026-03-31 | 2026-05-13 | |||
|
AMZN
AMAZON COM INC
|
Consumer Cyclical | 4.80% | 7.07% |
#3
Prev: #3
|
3.4 | -109,939 | -16.4% |
P
S
|
561,527 | $117,285,904 | 2022 Q3 | 13F Filing | 2026-03-31 | 2026-05-13 | |||
|
MSFT
MICROSOFT CORP
|
Technology | 4.76% | — |
#4
Prev: #—
|
5.9 | 313,446 | no change |
NEW
|
313,446 | $116,361,887 | 2007 Q4 | 13F Filing | 2026-03-31 | 2026-05-13 | |||
|
SW
SMURFIT WESTROC...
|
Consumer Cyclical | 4.56% | 7.94% |
#5
4
Prev: #1
|
2.3 | -1,717,954 | -38.1% |
P
S
|
2,786,197 | $111,349,897 | 2024 Q3 | 13F Filing | 2026-03-31 | 2026-05-13 | |||
|
BP
BP PLC
|
Energy | 4.05% | 3.54% |
#6
Prev: #6
|
2.1 | -137,744 | -6.2% |
P
S
|
2,098,006 | $98,890,774 | 2007 Q4 | 13F Filing | 2026-03-31 | 2026-05-13 | |||
|
SLB
SLB LIMITED
|
Energy | 3.25% | 2.01% |
#7
8
Prev: #15
|
3.8 | 395,543 | 34.5% |
P
S
|
1,542,086 | $79,476,780 | 2007 Q4 | 13F Filing | 2026-03-31 | 2026-05-13 | |||
|
BF/B
BROWN FORMAN CO...
|
Consumer Defensive | 2.96% | — |
#8
Prev: #—
|
4.7 | 2,731,876 | no change |
NEW
|
2,731,876 | $72,435,476 | 2026 Q1 | 13F Filing | 2026-03-31 | 2026-05-13 | |||
|
SU
SUNCOR ENERGY I...
|
Energy | 2.72% | 2.02% |
#9
5
Prev: #14
|
1.6 | 4,894 | 0.5% |
P
S
|
1,004,062 | $66,386,135 | 2007 Q4 | 13F Filing | 2026-03-31 | 2026-05-13 | |||
|
BAC
BANK AMERICA CO...
|
Financial Services | 2.63% | 4.18% |
#10
6
Prev: #4
|
1.1 | -352,170 | -21.1% |
P
S
|
1,315,860 | $64,332,553 | 2007 Q4 | 13F Filing | 2026-03-31 | 2026-05-13 | |||
|
EQX
EQUINOX GOLD CO...
|
Basic Materials | 2.44% | 3.71% |
#11
6
Prev: #5
|
1.0 | -1,665,113 | -28.7% |
P
S
|
4,126,835 | $59,699,196 | 2020 Q1 | 13F Filing | 2026-03-31 | 2026-05-13 | |||
|
SOLV
SOLVENTUM CORP
|
Healthcare | 2.30% | 2.22% |
#12
1
Prev: #11
|
3.4 | 245,435 | 39.9% |
P
S
|
859,993 | $56,319,368 | 2025 Q3 | 13F Filing | 2026-03-31 | 2026-05-13 | |||
|
FND
FLOOR & DECOR H...
|
Consumer Cyclical | 2.29% | 2.15% |
#13
1
Prev: #12
|
3.4 | 326,255 | 42.1% |
P
S
|
1,100,725 | $56,076,935 | 2025 Q4 | 13F Filing | 2026-03-31 | 2026-05-13 | |||
|
XOM
EXXON MOBIL COR...
|
Energy | 2.24% | 1.76% |
#14
3
Prev: #17
|
1.4 | 1,625 | 0.5% |
P
S
|
321,706 | $54,737,261 | 2007 Q4 | 13F Filing | 2026-03-31 | 2026-05-13 | |||
|
LAMR
LAMAR ADVERTISI...
|
Real Estate | 1.76% | 1.38% |
#15
10
Prev: #25
|
3.2 | 98,670 | 41.1% |
P
S
|
338,490 | $42,996,688 | 2025 Q4 | 13F Filing | 2026-03-31 | 2026-05-13 | |||
|
UNP
UNION PAC CORP
|
Industrials | 1.68% | 1.41% |
#16
7
Prev: #23
|
3.2 | 35,826 | 26.9% |
P
S
|
169,256 | $41,183,392 | 2025 Q4 | 13F Filing | 2026-03-31 | 2026-05-13 | |||
|
VIST
VISTA ENERGY S....
|
Energy | 1.65% | 0.88% |
#17
15
Prev: #32
|
3.2 | 138,410 | 35.1% |
P
S
|
532,920 | $40,333,980 | 2025 Q4 | 13F Filing | 2026-03-31 | 2026-05-13 | |||
|
ARMN
ARIS MNG CORP
|
Unknown | 1.42% | 1.96% |
#18
2
Prev: #16
|
0.6 | -774,606 | -29.3% |
P
S
|
1,872,533 | $34,758,271 | 2023 Q3 | 13F Filing | 2026-03-31 | 2026-05-13 | |||
|
GE
GE AEROSPACE
|
Industrials | 1.37% | 1.65% |
#19
Prev: #19
|
1.0 | 741 | 0.6% |
P
S
|
118,042 | $33,592,846 | 2007 Q4 | 13F Filing | 2026-03-31 | 2026-05-13 | |||
|
GAU
GALIANO GOLD IN...
|
Basic Materials | 1.35% | 1.66% |
#20
2
Prev: #18
|
1.0 | -1,080,975 | -7.6% |
P
S
|
13,224,532 | $33,072,257 | 2020 Q2 | 13F Filing | 2026-03-31 | 2026-05-13 | |||
|
PFE
PFIZER INC
|
Healthcare | 1.32% | 1.50% |
#21
1
Prev: #20
|
1.0 | -174,343 | -13.2% |
P
S
|
1,149,753 | $32,377,486 | 2007 Q4 | 13F Filing | 2026-03-31 | 2026-05-13 | |||
|
EGO
ELDORADO GOLD C...
|
Basic Materials | 1.27% | 2.64% |
#22
13
Prev: #9
|
0.5 | -712,298 | -44.2% |
P
S
|
899,358 | $30,963,930 | 2019 Q1 | 13F Filing | 2026-03-31 | 2026-05-13 | |||
|
PNC
PNC FINL SVCS G...
|
Financial Services | 1.26% | 1.43% |
#23
1
Prev: #22
|
1.0 | -2,707 | -1.8% |
P
S
|
147,395 | $30,759,129 | 2023 Q1 | 13F Filing | 2026-03-31 | 2026-05-13 | |||
|
CP
CANADIAN PACIFI...
|
Industrials | 1.21% | 0.69% |
#24
12
Prev: #36
|
3.5 | 168,083 | 81.4% |
P
S
|
374,542 | $29,545,933 | 2025 Q4 | 13F Filing | 2026-03-31 | 2026-05-13 | |||
|
BKNG
BOOKING HOLDING...
|
Consumer Cyclical | 1.06% | — |
#25
Prev: #—
|
3.9 | 6,147 | no change |
NEW
|
6,147 | $25,953,199 | 2020 Q1 | 13F Filing | 2026-03-31 | 2026-05-13 | |||
|
B
BARRICK GOLD CO...
|
Basic Materials | 0.96% | 1.29% |
#26
Prev: #26
|
0.9 | -79,235 | -12.2% |
P
S
|
571,425 | $23,375,592 | 2025 Q3 | 13F Filing | 2026-03-31 | 2026-05-13 | |||
|
SSRM
SSR MINING IN
|
Basic Materials | 0.88% | — |
#27
Prev: #—
|
3.9 | 731,624 | no change |
NEW
|
731,624 | $21,571,729 | 2018 Q4 | 13F Filing | 2026-03-31 | 2026-05-13 | |||
|
IFF
INTERNATIONAL F...
|
Basic Materials | 0.87% | 0.73% |
#28
6
Prev: #34
|
2.8 | 54,140 | 22.8% |
P
S
|
291,613 | $21,217,634 | 2025 Q3 | 13F Filing | 2026-03-31 | 2026-05-13 | |||
|
SIG
SIGNET JEWELERS...
|
Consumer Cyclical | 0.79% | 0.70% |
#29
6
Prev: #35
|
2.8 | 42,443 | 22.9% |
P
S
|
227,635 | $19,322,547 | 2025 Q4 | 13F Filing | 2026-03-31 | 2026-05-13 | |||
|
COO
COOPER COS INC
|
Healthcare | 0.63% | 1.17% |
#30
1
Prev: #29
|
0.3 | -95,993 | -30.8% |
P
S
|
216,171 | $15,500,766 | 2025 Q2 | 13F Filing | 2026-03-31 | 2026-05-13 | |||
|
WBD
WARNER BROS DIS...
|
Communication Services | 0.63% | — |
#31
Prev: #—
|
3.8 | 561,089 | no change |
NEW
|
561,089 | $15,451,323 | 2026 Q1 | 13F Filing | 2026-03-31 | 2026-05-13 | |||
|
NEM
NEWMONT CORP
|
Basic Materials | 0.60% | 0.75% |
#32
1
Prev: #33
|
0.7 | -30,360 | -18.4% |
P
S
|
134,459 | $14,597,129 | 2007 Q4 | 13F Filing | 2026-03-31 | 2026-05-13 | |||
|
MHK
MOHAWK INDS INC
|
Consumer Cyclical | 0.58% | — |
#33
Prev: #—
|
3.7 | 144,300 | no change |
NEW
|
144,300 | $14,248,289 | 2009 Q4 | 13F Filing | 2026-03-31 | 2026-05-13 | |||
|
UHAL/B
U HAUL HOLDING ...
|
Industrials | 0.55% | 0.65% |
#34
4
Prev: #38
|
0.7 | -5,819 | -1.9% |
P
S
|
299,133 | $13,399,535 | 2025 Q3 | 13F Filing | 2026-03-31 | 2026-05-13 | |||
|
CGAU
CENTERRA GOLD I...
|
Basic Materials | 0.53% | 2.14% |
#35
22
Prev: #13
|
0.2 | -2,524,315 | -77.5% |
P
S
|
730,816 | $12,993,077 | 2021 Q2 | 13F Filing | 2026-03-31 | 2026-05-13 | |||
|
PM
PHILIP MORRIS I...
|
Consumer Defensive | 0.49% | 1.38% |
#36
12
Prev: #24
|
0.2 | -117,426 | -62.0% |
P
S
|
71,879 | $11,918,626 | 2008 Q3 | 13F Filing | 2026-03-31 | 2026-05-13 | |||
|
SKE
SKEENA RES LTD ...
|
Basic Materials | 0.49% | 0.88% |
#37
6
Prev: #31
|
0.2 | -415,020 | -51.0% |
P
S
|
399,036 | $11,880,406 | 2022 Q2 | 13F Filing | 2026-03-31 | 2026-05-13 | |||
|
RGLD
ROYAL GOLD INC
|
Basic Materials | 0.48% | 0.67% |
#38
1
Prev: #37
|
0.2 | -19,630 | -29.8% |
P
S
|
46,270 | $11,809,184 | 2015 Q3 | 13F Filing | 2026-03-31 | 2026-05-13 | |||
|
N/A
MAGNUM ICE CREA...
|
—
|
Unknown | 0.45% | 0.25% |
#39
13
Prev: #52
|
3.2 | 415,381 | 122.1% |
P
S
|
755,564 | $11,081,167 | — | 13F Filing | 2026-03-31 | 2026-05-13 | ||
|
ITRG
INTEGRA RES COR...
|
Basic Materials | 0.44% | 0.55% |
#40
Prev: #40
|
2.7 | 978,572 | 32.5% |
P
S
|
3,985,025 | $10,767,705 | 2023 Q3 | 13F Filing | 2026-03-31 | 2026-05-13 | |||
|
KGC
KINROSS GOLD CO...
|
Basic Materials | 0.42% | — |
#41
Prev: #—
|
3.7 | 332,440 | no change |
NEW
|
332,440 | $10,175,306 | 2010 Q4 | 13F Filing | 2026-03-31 | 2026-05-13 | |||
|
AU
ANGLOGOLD ASHAN...
|
Basic Materials | 0.39% | 1.25% |
#42
15
Prev: #27
|
0.2 | -222,769 | -69.4% |
P
S
|
98,228 | $9,591,036 | 2015 Q2 | 13F Filing | 2026-03-31 | 2026-05-13 | |||
|
PAAS
PAN AMERN SILVE...
|
Basic Materials | 0.38% | 1.44% |
#43
22
Prev: #21
|
0.2 | -438,025 | -72.0% |
P
S
|
170,303 | $9,330,463 | 2019 Q1 | 13F Filing | 2026-03-31 | 2026-05-13 | |||
|
KGS
KODIAK GAS SVCS...
|
Energy | 0.35% | — |
#44
Prev: #—
|
3.6 | 147,870 | no change |
NEW
|
147,870 | $8,648,629 | 2026 Q1 | 13F Filing | 2026-03-31 | 2026-05-13 | |||
|
AM
ANTERO MIDSTREA...
|
Energy | 0.33% | — |
#45
Prev: #—
|
3.6 | 350,360 | no change |
NEW
|
350,360 | $8,011,048 | 2026 Q1 | 13F Filing | 2026-03-31 | 2026-05-13 | |||
|
NFG
NATIONAL FUEL G...
|
Energy | 0.32% | — |
#46
Prev: #—
|
3.6 | 82,360 | no change |
NEW
|
82,360 | $7,760,802 | 2026 Q1 | 13F Filing | 2026-03-31 | 2026-05-13 | |||
|
TRP
TC ENERGY CORP
|
Energy | 0.31% | — |
#47
Prev: #—
|
3.6 | 123,040 | no change |
NEW
|
123,040 | $7,698,542 | 2026 Q1 | 13F Filing | 2026-03-31 | 2026-05-13 | |||
|
VG
VENTURE GLOBAL ...
|
Energy | 0.30% | — |
#48
Prev: #—
|
3.6 | 460,805 | no change |
NEW
|
460,805 | $7,282,970 | 2026 Q1 | 13F Filing | 2026-03-31 | 2026-05-13 | |||
|
CDE
COEUR MNG INC
|
Basic Materials | 0.30% | 0.30% |
#49
2
Prev: #47
|
0.6 | 17,794 | 4.9% |
P
S
|
384,032 | $7,221,831 | 2009 Q2 | 13F Filing | 2026-03-31 | 2026-05-13 | |||
|
BCE
BCE INC
|
Communication Services | 0.29% | — |
#50
Prev: #—
|
3.6 | 280,040 | no change |
NEW
|
280,040 | $7,062,973 | 2026 Q1 | 13F Filing | 2026-03-31 | 2026-05-13 |
Showing 1-50 of 244 holdings