RUFFER LLP
Q3 2023 Form 13-F
LONDON
CIK 0001426859
· CRD 309733
· SEC-registered investment adviser
$1.8B Reported Value Total
RUFFER LLP reports 6,884 total accounts under management (AUM). There are 6,884 discretionary accounts valued at $31,344,724,211, and 0 non-discretionary accounts.
Source: Form ADV filed * Note that certain holdings are exempt from Form 13-F reporting, so the AUM totals may be greater than the Form 13-F total.
Private funds (Form ADV)
1 fund
· $4.9B gross asset value
Other: $4.9B
Source: Form ADV filed 2026-10-13
Reported value
$1.8B
Quarter over quarter
-5.7%
Holdings
66
Top-10 concentration
53.5%
Key People
Form ADV owners & control persons
Jonathan Garnier Ruffer
SHAREHOLDER
Christopher Bacon
CHIEF EXECUTIVE OFFICER AND BOARD MEMBER (AND PARTNER)
Henry James Macfarlane Maxey
EXECUTIVE CHAIRMAN, CHIEF INVESTMENT OFFICER AND BOARD MEMBER (AND PARTNER )
Filing Navigation
Coverage begins with the second quarter of 2013. Earlier quarters are not shown while their accuracy is being verified.
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Q3 2023 13F record
Q3 2023 13F filing summary
| Period of report | September 30, 2023 |
|---|---|
| Filed | November 13, 2023 |
| Form | 13F-HR |
| Reported value | $1.8B |
| Positions | 66 |
| Change in reported value | +5.7% |
| New positions | 6 |
| Exited positions | 10 |
| Position turnover | 21.1% |
| Top-10 concentration | 53.5% |
13F filings by quarter
| Quarter | Positions | Value |
|---|---|---|
|
Q2 2026 13F
Filed Jul 30, 2026
|
187 | $2.8B |
|
Q1 2026 13F
Filed May 13, 2026
|
176 | $2.4B |
|
Q4 2025 13F
Filed Jan 28, 2026
|
154 | $2.2B |
|
Q3 2025 13F
Filed Nov 3, 2025
|
101 | $1.8B |
|
Q2 2025 13F
Filed Jul 16, 2025
|
98 | $2.3B |
|
Q1 2025 13F
Filed May 9, 2025
|
94 | $2.6B |
|
Q4 2024 13F
Filed Feb 7, 2025
|
101 | $2.8B |
|
Q3 2024 13F
Filed Nov 8, 2024
|
56 | $3.2B |
|
Q2 2024 13F
Filed Aug 8, 2024
|
53 | $2.3B |
|
Q1 2024 13F
Filed May 8, 2024
|
60 | $2.6B |
|
Q4 2023 13F
Filed Feb 12, 2024
|
67 | $2.7B |
|
Q3 2023 13F
Filed Nov 13, 2023
|
66 | $1.8B |
|
Q2 2023 13F
Filed Aug 10, 2023
|
70 | $1.7B |
|
Q1 2023 13F
Filed May 11, 2023
|
87 | $2.9B |
|
Q4 2022 13F
Filed Feb 10, 2023
|
91 | $1.5B |
|
Q3 2022 13F
Filed Nov 10, 2022
|
95 | $1.6B |
|
Q2 2022 13F
Filed Aug 5, 2022
|
97 | $2.5B |
|
Q1 2022 13F
Filed May 12, 2022
|
101 | $4.3B |
|
Q4 2021 13F
Filed Feb 4, 2022
|
101 | $4.2B |
|
Q3 2021 13F
Filed Nov 10, 2021
|
90 | $3.2B |
33 earlier quarters on file — choose one from the quarter menu above.
Top 20 holdings · Q3 2023
| # | Holding | Reported value | % of portfolio |
|---|---|---|---|
| 1 | RYAAY RYANAIR HOLDINGS PLC | $129.5M | 7.17% |
| 2 | ABEV AMBEV SA | $117.4M | 6.51% |
| 3 | BABA ALIBABA GROUP HLDG LTD | $112.3M | 6.22% |
| 4 | TSM TAIWAN SEMICONDUCTOR MFG LTD | $107.8M | 5.97% |
| 5 | CI THE CIGNA GROUP | $105.7M | 5.86% |
| 6 | AMZN AMAZON COM INC | $103.0M | 5.71% |
| 7 | KGC KINROSS GOLD CORP | $87.7M | 4.86% |
| 8 | NEM NEWMONT CORP | $77.8M | 4.31% |
| 9 | COTY COTY INC | $66.3M | 3.67% |
| 10 | KVUE KENVUE INC | $58.8M | 3.26% |
| 11 | JXN JACKSON FINANCIAL INC | $53.3M | 2.96% |
| 12 | PFE PFIZER INC | $53.3M | 2.95% |
| 13 | PXD PIONEER NAT RES CO | $47.2M | 2.61% |
| 14 | ABX BARRICK GOLD CORP | $46.9M | 2.6% |
| 15 | CGAU CENTERRA GOLD INC | $42.4M | 2.35% |
| 16 | XOM EXXON MOBIL CORP | $39.3M | 2.18% |
| 17 | GE GENERAL ELECTRIC CO | $36.2M | 2.01% |
| 18 | C CITIGROUP INC | $35.0M | 1.94% |
| 19 | EWBC EAST WEST BANCORP INC | $33.7M | 1.87% |
| 20 | AEM AGNICO EAGLE MINES LTD | $33.5M | 1.85% |
Values as reported on the Q3 2023 Form 13F. Every position is in the holdings table below.