Ruffer LLP
SEC Form 13F institutional filer · CIK 0001426859
13F-HR · 55 reported holdings · 2026-03-31
SEC-registered institutional investment manager.
Reported long-US-equity value
$1.30B
Top-10 concentration
74.5%
Ruffer LLP — $1.3B AUM allocation strategy
Ruffer LLP files SEC Form 13F and reports $1.3B of long US equity value across 55 reported holdings for 2026-03-31.
Its largest sector bet is Financials 26.7%, followed by Materials 11.3% and Consumer Discretionary 11.1%.
The top 10 holdings account for 74% of reported value — a conviction-weighted book concentrated in its best ideas. The sector and industry splits below are of the same reported value. Track quarter-over-quarter adds, trims, new positions and exits below — sourced from SEC 13F filings, public domain.
Ruffer LLP — latest SEC 13F insights
Reported long-US-equity value (13F AUM)
$1.3B
total across 55 reported holdings · 2026-03-31 · excludes shorts, cash, non-US
Top-10 concentration
74% of value
higher = narrower conviction; lower = spread / hedging
Biggest adds (shares)
+$COIN +701K sh · +$84.9M+$SLB +396K sh · +$35.4M+$SOLV +245K sh · +$7.55M
Biggest trims (shares)
−$SW −1.72M sh · −$63.1M−$DIS −506K sh · −$58.8M−$BAC −352K sh · −$27.6M
Exited to nil (held last quarter, gone now)
$EXR ($50.3M last qtr)$MU ($4.45M last qtr)$AXP ($3.43M last qtr)$AIG ($2.94M last qtr)$C ($1.62M last qtr)
Sector allocation (share of reported value)
each slice is a share of the reported long-US-equity value — smaller sectors and the rest of the book roll into “Other holdings”
Qtr shift = share-point change vs the prior quarter's filing — first period tracked for this filer; the column fills in with the next quarterly refresh.
Industry allocation (share of reported value)
- Financial Exchanges & Data19.4%—
- Broadline Retail9.1%—
- Systems Software9.0%—
- Paper & Plastic Packaging Products & Materials8.6%—
- Diversified Banks7.3%—
- Oil & Gas Equipment & Services6.2%—
- Distillers & Vintners5.6%—
- Health Care Technology4.3%—
- Other holdings30.5%—
the finer GICS cut of the same book — same denominator — smaller industries roll into “Other holdings”
Qtr shift = share-point change vs the prior quarter's filing — first period tracked for this filer; the column fills in with the next quarterly refresh.
Top S&P 500 holdings
10 of 10 rows · sorted by Value ↓
| Ticker | Holding | Shares | Value | Δ QoQ | Weight |
|---|---|---|---|---|---|
| $COIN | Coinbase Global Inc | 1.44M | $251M | +701K | 19.4% |
| $AMZN | Amazon.com Inc | 562K | $117M | -110K | 9.1% |
| $MSFT | Microsoft Corporation | 313K | $116M | — | 9.0% |
| $SW | Smurfit WestRock plc | 2.79M | $111M | -1.72M | 8.6% |
| $SLB | SLB Limited | 1.54M | $79.5M | +396K | 6.1% |
| $BF.B | Brown-Forman Corporation Class B | 2.73M | $72.4M | — | 5.6% |
| $BAC | Bank of America Corporation | 1.32M | $64.3M | -352K | 5.0% |
| $SOLV | Solventum Corporation | 860K | $56.3M | +245K | 4.3% |
| $XOM | ExxonMobil Holdings Corporation | 322K | $54.7M | +1.63K | 4.2% |
| $UNP | Union Pacific Corporation | 169K | $41.2M | +35.8K | 3.2% |
…and 45 more holdings in the full 13F filing (top positions only shown).
SEC Form 13F data sets · public domain · 45-day filing lag · >$100M AUM managers · as reported
← All 13F filers·← QuantOrb.pro
How to read Δ QoQ — the five insight categories, and the caveats
The categories. Analysts, quants and retail traders look past total portfolio value to isolate actionable signals. Five categories matter.
Conviction & concentration shifts
New positions vs complete exits — a brand-new stock signals high conviction; a full liquidation suggests a broken thesis or tax-loss harvesting. Aggressive sizing — look at share count, not dollars: a 20% share increase during a drawdown is strong dip-buying. Concentration — a narrowing top-5/10 means conviction; spreading capital across more names means hedging.
Sector & macro allocation rotations
Aggregating Δ QoQ moves across sectors shows where smart money is leaning in or sneaking out — rotating out of growth into defensives or energy, for example. The fund's total long equity exposure quarter-over-quarter is a proxy for overall institutional risk appetite.
Crowding & smart-money consensus
When several managers initiate or expand the same stock in the same quarter, that is institutional consensus. Contrarian reads: top pickers buying hard into a beaten-down name the market is selling.
Derivative & option overlays
Reported call/put changes indicate whether managers are adding downside hedges or leveraging upside exposure. Note: a long increase may be half of a market-neutral pair trade.
Who reads this
| Retail "cloners" | High-conviction ideas to replicate ~45 days after quarter-end. |
| Corporate IR | Which funds bought or dumped the stock, before the next call. |
| Quant / algo traders | Cross-sectional factor inputs: flow, momentum, ownership. |
Four caveats before you trade on it
- 45-day lag — holdings are quarter-end; positions may already be closed.
- Long-only — 13Fs miss shorts, pair trades and cash.
- No non-US / fixed income — the picture is US equities plus options.
- Corporate actions — splits and spinoffs distort raw share deltas.
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