Ruffer LLP
CIK 0001426859
Annualised vol
8.494254%
Beta
0.369968
HHI
213.144239
Top-10 weight
35.566463%
VaR 95%
0.811939%
VaR 99%
1.528322%
Max drawdown
12.781197%
Matched value
69.541263%
Returns of reported holdings
Loading returns…
Position changes vs prior quarter
What the latest 13F shows bought and sold against the quarter before, by share count.
| Ticker | Change | Shares now | Shares before | Share change % | Value now ($) |
|---|---|---|---|---|---|
| AMZN | ADDED | 829,118 | 561,527 | 47.65% | 197,388,950 |
| MSFT | ADDED | 454,873 | 313,446 | 45.12% | 169,486,097 |
| SW | REDUCED | 2,438,889 | 2,786,197 | -12.47% | 112,695,934 |
| COIN | REDUCED | 499,000 | 1,435,990 | -65.25% | 72,868,865 |
| NTES | NEW | 487,913 | - | - | 62,452,868 |
| SLB | REDUCED | 1,341,534 | 1,542,086 | -13.01% | 62,298,723 |
| BP | REDUCED | 1,624,940 | 2,098,006 | -22.55% | 59,975,939 |
| SOLV | REDUCED | 776,468 | 859,993 | -9.71% | 59,838,399 |
| SU | ADDED | 1,009,746 | 1,004,062 | 0.57% | 54,237,446 |
| LAMR | REDUCED | 338,207 | 338,490 | -0.08% | 52,696,062 |
| BF-B | REDUCED | 1,931,956 | 2,731,876 | -29.28% | 51,428,246 |
| YMM | NEW | 5,724,180 | - | - | 46,426,618 |
| EQX | ADDED | 4,736,428 | 4,126,835 | 14.77% | 46,049,395 |
| TCOM | NEW | 1,075,096 | - | - | 42,784,562 |
| JD | NEW | 1,537,181 | - | - | 39,124,582 |
| BKNG | ADDED | 215,996 | 6,147 | 3413.84% | 38,456,802 |
| EXE | NEW | 420,557 | - | - | 38,307,137 |
| SPGI | NEW | 93,768 | - | - | 38,143,110 |
| TTE | NEW | 474,930 | - | - | 36,898,470 |
| SCHW | NEW | 358,432 | - | - | 33,035,083 |
| VIST | REDUCED | 518,201 | 532,920 | -2.76% | 33,024,860 |
| SIG | ADDED | 360,278 | 227,635 | 58.27% | 31,022,035 |
| PFE | REDUCED | 1,126,006 | 1,149,753 | -2.07% | 27,083,384 |
| WBD | ADDED | 920,507 | 561,089 | 64.06% | 24,511,598 |
| GAU | REDUCED | 12,994,532 | 13,224,532 | -1.74% | 24,245,208 |
| KGC | ADDED | 874,179 | 332,440 | 162.96% | 20,646,858 |
| ABNB | NEW | 139,870 | - | - | 19,993,108 |
| VG | ADDED | 1,789,003 | 460,805 | 288.23% | 19,889,073 |
| FLR | NEW | 375,643 | - | - | 19,658,222 |
| WSE | NEW | 1,415,047 | - | - | 16,963,419 |
| OGC | NEW | 667,801 | - | - | 16,714,988 |
| ALV | NEW | 137,005 | - | - | 15,898,483 |
| NEM | ADDED | 163,583 | 134,459 | 21.66% | 15,261,961 |
| PM | REDUCED | 70,063 | 71,879 | -2.53% | 12,660,874 |
| PAYC | ADDED | 87,209 | 55,224 | 57.92% | 10,948,453 |
| PAYX | ADDED | 102,561 | 76,426 | 34.2% | 10,073,740 |
| RRR | ADDED | 154,858 | 47,257 | 227.69% | 10,064,055 |
| AEM | NEW | 63,411 | - | - | 9,833,553 |
| DT | ADDED | 211,477 | 113,055 | 87.06% | 9,275,749 |
| RGLD | REDUCED | 44,600 | 46,270 | -3.61% | 8,892,880 |
| AM | ADDED | 384,010 | 350,360 | 9.6% | 8,726,851 |
| FTNT | REDUCED | 52,054 | 52,456 | -0.77% | 7,987,739 |
| CGAU | REDUCED | 504,233 | 730,816 | -31.0% | 7,984,360 |
| ADM | NEW | 96,890 | - | - | 7,394,309 |
| INTU | ADDED | 28,336 | 9,271 | 205.64% | 7,387,559 |
| MHO | REDUCED | 45,809 | 52,259 | -12.34% | 7,357,582 |
| DTM | NEW | 49,640 | - | - | 7,276,260 |
| BCE | ADDED | 329,790 | 280,040 | 17.77% | 7,093,223 |
| G | ADDED | 252,992 | 109,092 | 131.91% | 6,949,679 |
| GFI | NEW | 200,640 | - | - | 6,732,135 |
| TRP | REDUCED | 99,810 | 123,040 | -18.88% | 6,599,745 |
| SOBO | NEW | 179,920 | - | - | 6,328,286 |
| HAPN | NEW | 298,095 | - | - | 6,175,654 |
| FHI | ADDED | 111,652 | 82,909 | 34.67% | 6,158,688 |
| IT | ADDED | 46,780 | 26,408 | 77.14% | 6,057,013 |
| TROW | REDUCED | 52,270 | 56,256 | -7.09% | 5,935,947 |
| INCY | ADDED | 52,291 | 47,368 | 10.39% | 5,921,267 |
| JAZZ | NEW | 24,567 | - | - | 5,913,394 |
| FOXA | ADDED | 112,972 | 105,568 | 7.01% | 5,885,655 |
| DOX | ADDED | 116,121 | 62,880 | 84.67% | 5,862,344 |
| AVT | ADDED | 65,939 | 4,723 | 1296.13% | 5,850,172 |
| NBIX | REDUCED | 34,541 | 36,133 | -4.41% | 5,814,903 |
| ANIP | ADDED | 69,426 | 60,191 | 15.34% | 5,740,759 |
| INFY | ADDED | 545,691 | 304,957 | 78.94% | 5,718,045 |
| GEN | REDUCED | 228,498 | 249,636 | -8.47% | 5,680,779 |
| SAIC | ADDED | 50,646 | 43,455 | 16.55% | 5,585,716 |
| MMS | ADDED | 99,933 | 73,047 | 36.81% | 5,366,463 |
| AA | ADDED | 92,830 | 92,720 | 0.12% | 4,834,868 |
| CMC | REDUCED | 76,911 | 78,194 | -1.64% | 4,820,791 |
| LEA | REDUCED | 33,663 | 38,448 | -12.45% | 4,507,674 |
| CRM | ADDED | 28,582 | 21,898 | 30.52% | 4,472,764 |
| FSLR | ADDED | 18,461 | 15,099 | 22.27% | 4,351,052 |
| BBY | REDUCED | 57,016 | 70,792 | -19.46% | 4,321,648 |
| APTV | ADDED | 66,896 | 39,310 | 70.18% | 4,101,645 |
| AU | REDUCED | 46,895 | 98,228 | -52.26% | 3,789,317 |
| OVV | NEW | 68,026 | - | - | 3,577,656 |
| ADMA | NEW | 422,958 | - | - | 3,536,005 |
| AUGO | NEW | 54,596 | - | - | 3,432,846 |
| SKYW | REDUCED | 33,704 | 35,030 | -3.79% | 3,344,161 |
| IVZ | ADDED | 122,638 | 112,202 | 9.3% | 3,232,800 |
| WRBY | ADDED | 105,104 | 104,274 | 0.8% | 3,185,372 |
| BUD | REDUCED | 38,000 | 45,000 | -15.56% | 3,127,779 |
| INSW | ADDED | 40,730 | 12,606 | 223.1% | 3,115,968 |
| FRO | REDUCED | 85,969 | 119,152 | -27.85% | 2,987,708 |
| EAT | REDUCED | 17,259 | 20,676 | -16.53% | 2,896,344 |
| DINO | REDUCED | 41,146 | 75,170 | -45.26% | 2,862,716 |
| TGT | REDUCED | 21,644 | 24,408 | -11.32% | 2,823,834 |
| CVX | ADDED | 17,000 | 11,000 | 54.55% | 2,814,841 |
| KMX | REDUCED | 51,910 | 75,625 | -31.36% | 2,742,520 |
| STNG | NEW | 38,491 | - | - | 2,662,974 |
| CHWY | NEW | 133,908 | - | - | 2,628,418 |
| CNM | REDUCED | 50,770 | 62,938 | -19.33% | 2,446,976 |
| ULTA | NEW | 5,420 | - | - | 2,441,641 |
| DPZ | ADDED | 8,056 | 6,153 | 30.93% | 2,382,293 |
| JPM | UNCHANGED | 7,000 | 7,000 | 0.0% | 2,288,807 |
| CHDN | NEW | 25,561 | - | - | 2,288,785 |
| FIVE | ADDED | 12,519 | 1,254 | 898.33% | 2,248,332 |
| BKE | NEW | 51,230 | - | - | 2,159,544 |
| LTH | REDUCED | 52,084 | 115,235 | -54.8% | 2,124,787 |
| URBN | REDUCED | 28,819 | 43,543 | -33.81% | 2,039,883 |
| KR | NEW | 34,563 | - | - | 1,917,187 |
| DRI | REDUCED | 8,776 | 8,978 | -2.25% | 1,805,969 |
| CAKE | REDUCED | 21,691 | 29,180 | -25.66% | 1,723,417 |
| VZLA | UNCHANGED | 499,777 | 499,777 | 0.0% | 1,639,765 |
| GCT | NEW | 48,921 | - | - | 1,544,150 |
| BYD | REDUCED | 16,867 | 33,481 | -49.62% | 1,488,234 |
| SNX | REDUCED | 5,347 | 38,663 | -86.17% | 1,427,905 |
| ARCO | UNCHANGED | 127,142 | 127,142 | 0.0% | 1,023,645 |
| MKL | ADDED | 421 | 410 | 2.68% | 821,319 |
| GLDG | UNCHANGED | 401,996 | 401,996 | 0.0% | 362,286 |
| CMG | NEW | 9,638 | - | - | 327,334 |
| SITE | REDUCED | 2,790 | 18,718 | -85.09% | 318,855 |
| KBH | NEW | 4,756 | - | - | 297,353 |
| TOL | REDUCED | 1,682 | 1,924 | -12.58% | 276,807 |
| SKY | REDUCED | 3,031 | 3,548 | -14.57% | 266,800 |
| DHT | REDUCED | 11,445 | 265,737 | -95.69% | 188,979 |
| PAGS | REDUCED | 12,095 | 199,225 | -93.93% | 109,340 |
| SFL | CLOSED OUT | 0 | 350,080 | -100.0% | 0 |
| UHAL | CLOSED OUT | 0 | 299,133 | -100.0% | 0 |
| SMPL | CLOSED OUT | 0 | 299,062 | -100.0% | 0 |
| SGHC | CLOSED OUT | 0 | 248,002 | -100.0% | 0 |
| GTX | CLOSED OUT | 0 | 205,949 | -100.0% | 0 |
| CSX | CLOSED OUT | 0 | 148,210 | -100.0% | 0 |
| FLNG | CLOSED OUT | 0 | 144,610 | -100.0% | 0 |
| EXEL | CLOSED OUT | 0 | 117,923 | -100.0% | 0 |
| ESI | CLOSED OUT | 0 | 105,820 | -100.0% | 0 |
| INDV | CLOSED OUT | 0 | 90,247 | -100.0% | 0 |
| DD | CLOSED OUT | 0 | 88,140 | -100.0% | 0 |
| NFG | CLOSED OUT | 0 | 82,360 | -100.0% | 0 |
| VVV | CLOSED OUT | 0 | 80,326 | -100.0% | 0 |
| ASH | CLOSED OUT | 0 | 64,533 | -100.0% | 0 |
| W | CLOSED OUT | 0 | 31,465 | -100.0% | 0 |
| LEN | CLOSED OUT | 0 | 20,580 | -100.0% | 0 |
| DRH | CLOSED OUT | 0 | 11,033 | -100.0% | 0 |
| LIN | CLOSED OUT | 0 | 8,560 | -100.0% | 0 |
| MUSA | CLOSED OUT | 0 | 4,522 | -100.0% | 0 |
Holdings (latest quarter)
| Ticker | Change | Issuer | Class | CUSIP | Value ($) | Weight % | Shares |
|---|---|---|---|---|---|---|---|
| AMZN | ADDED | AMAZON COM INC | COM | 023135106 | 197,388,950 | 6.98 | 829118.0 |
| MSFT | ADDED | MICROSOFT CORP | COM | 594918104 | 169,486,097 | 5.99 | 454873.0 |
| - | ALIBABA GROUP HLDG LTD | SPONSORED ADS | 01609W102 | 121,289,347 | 4.29 | 1265069.0 | |
| SW | REDUCED | SMURFIT WESTROCK PLC | SHS | G8267P108 | 112,695,934 | 3.98 | 2438889.0 |
| - | BANK AMERICA CORP | COM | 060505104 | 74,230,830 | 2.62 | 1304202.0 | |
| - | FLOOR & DECOR HLDGS INC | CL A | 339750101 | 73,257,578 | 2.59 | 1235490.0 | |
| COIN | REDUCED | COINBASE GLOBAL INC | COM CL A | 19260Q107 | 72,868,865 | 2.58 | 499000.0 |
| NTES | NEW | NETEASE COM INC | SPONSORED ADS | 64110W102 | 62,452,868 | 2.21 | 487913.0 |
| SLB | REDUCED | SLB LIMITED | COM STK | 806857108 | 62,298,723 | 2.2 | 1341534.0 |
| BP | REDUCED | BP PLC | SPONSORED ADR | 055622104 | 59,975,939 | 2.12 | 1624940.0 |
| SOLV | REDUCED | SOLVENTUM CORP | COM SHS | 83444M101 | 59,838,399 | 2.12 | 776468.0 |
| SU | ADDED | SUNCOR ENERGY INC NEW | COM | 867224107 | 54,237,446 | 1.92 | 1009746.0 |
| LAMR | REDUCED | LAMAR ADVERTISING CO NEW | CL A | 512816109 | 52,696,062 | 1.86 | 338207.0 |
| BF-B | REDUCED | BROWN FORMAN CORP | CL B | 115637209 | 51,428,246 | 1.82 | 1931956.0 |
| YMM | NEW | FULL TRUCK ALLIANCE CO LTD | SPONSORED ADS | 35969L108 | 46,426,618 | 1.64 | 5724180.0 |
| EQX | ADDED | EQUINOX GOLD CORP | COM | 29446Y502 | 46,049,395 | 1.63 | 4736428.0 |
| - | EXXON MOBIL CORP | COM | 30231G102 | 42,907,632 | 1.52 | 314224.0 | |
| TCOM | NEW | TRIP COM GROUP LTD | ADS | 89677Q107 | 42,784,562 | 1.51 | 1075096.0 |
| JD | NEW | JD.COM INC | SPON ADS CL A | 47215P106 | 39,124,582 | 1.38 | 1537181.0 |
| BKNG | ADDED | BOOKING HOLDINGS INC | COM | 09857L108 | 38,456,802 | 1.36 | 215996.0 |
| EXE | NEW | EXPAND ENERGY CORPORATION | COM | 165167735 | 38,307,137 | 1.35 | 420557.0 |
| SPGI | NEW | S&P GLOBAL INC | COM | 78409V104 | 38,143,110 | 1.35 | 93768.0 |
| - | UNION PAC CORP | COM | 907818108 | 38,041,885 | 1.35 | 140019.0 | |
| TTE | NEW | TOTALENERGIES SE | ACT | F92124100 | 36,898,470 | 1.3 | 474930.0 |
| - | BERKSHIRE HATHAWAY INC DEL | CL B NEW | 084670702 | 36,482,877 | 1.29 | 72990.0 | |
| - | PNC FINL SVCS GROUP INC | COM | 693475105 | 35,780,752 | 1.27 | 145485.0 | |
| - | CANADIAN PACIFIC KANSAS CITY | COM | 13646K108 | 33,425,242 | 1.18 | 386182.0 | |
| SCHW | NEW | SCHWAB CHARLES CORP | COM | 808513105 | 33,035,083 | 1.17 | 358432.0 |
| VIST | REDUCED | VISTA ENERGY S.A.B. DE C.V. | SPONSORED ADS | 92837L109 | 33,024,860 | 1.17 | 518201.0 |
| SIG | ADDED | SIGNET JEWELERS LIMITED | SHS | G81276100 | 31,022,035 | 1.1 | 360278.0 |
| - | EAGLE MATLS INC | COM | 26969P108 | 29,662,176 | 1.05 | 131978.0 | |
| PFE | REDUCED | PFIZER INC | COM | 717081103 | 27,083,384 | 0.96 | 1126006.0 |
| WBD | ADDED | WARNER BROS DISCOVERY INC | COM SER A | 934423104 | 24,511,598 | 0.87 | 920507.0 |
| GAU | REDUCED | GALIANO GOLD INC | COM | 36352H100 | 24,245,208 | 0.86 | 1.2994532E7 |
| - | ARIS MNG CORP | COM | 04040Y109 | 23,908,258 | 0.85 | 1605529.0 | |
| - | ELDORADO GOLD CORP NEW | COM | 284902509 | 20,932,668 | 0.74 | 674029.0 | |
| KGC | ADDED | KINROSS GOLD CORP | COM | 496902404 | 20,646,858 | 0.73 | 874179.0 |
| - | DISNEY WALT CO | COM | 254687106 | 20,364,573 | 0.72 | 211815.0 | |
| ABNB | NEW | AIRBNB INC | COM CL A | 009066101 | 19,993,108 | 0.71 | 139870.0 |
| VG | ADDED | VENTURE GLOBAL INC | COM CL A | 92333F101 | 19,889,073 | 0.7 | 1789003.0 |
| FLR | NEW | FLUOR CORP | COM | 343412102 | 19,658,222 | 0.7 | 375643.0 |
| - | COOPER COS INC | COM | 216648501 | 19,239,619 | 0.68 | 268591.0 | |
| - | COEUR MNG INC | COM NEW | 192108504 | 19,053,129 | 0.67 | 1168748.0 | |
| - | MAGNUM ICE CREAM CO NV | ORD SHS | N5505D105 | 18,825,159 | 0.67 | 1082605.0 | |
| - | INTERNATIONAL FLAVORS&FRAGRA | COM | 459506101 | 18,065,814 | 0.64 | 228297.0 | |
| WSE | NEW | WISE GROUP PLC | ORD SHS CLASS A | G9723Y105 | 16,963,419 | 0.6 | 1415047.0 |
| OGC | NEW | OCEANAGOLD CORP | COM NEW | 675222400 | 16,714,988 | 0.59 | 667801.0 |
| - | SSR MINING IN | COM | 784730103 | 16,472,618 | 0.58 | 583120.0 | |
| ALV | NEW | AUTOLIV INC | COM | 052800109 | 15,898,483 | 0.56 | 137005.0 |
| - | BARRICK GOLD CORP | COM | 06849F108 | 15,841,733 | 0.56 | 431774.0 | |
| - | GE AEROSPACE | COM NEW | 369604301 | 15,828,128 | 0.56 | 42402.0 | |
| NEM | ADDED | NEWMONT CORP | COM | 651639106 | 15,261,961 | 0.54 | 163583.0 |
| PM | REDUCED | PHILIP MORRIS INTL INC | COM | 718172109 | 12,660,874 | 0.45 | 70063.0 |
| PAYC | ADDED | PAYCOM SOFTWARE INC | COM | 70432V102 | 10,948,453 | 0.39 | 87209.0 |
| PAYX | ADDED | PAYCHEX INC | COM | 704326107 | 10,073,740 | 0.36 | 102561.0 |
| RRR | ADDED | RED ROCK RESORTS INC | CL A | 75700L108 | 10,064,055 | 0.36 | 154858.0 |
| AEM | NEW | AGNICO EAGLE MINES LTD | COM | 008474108 | 9,833,553 | 0.35 | 63411.0 |
| - | INTEGRA RES CORP | COM | 45826T509 | 9,832,795 | 0.35 | 4433503.0 | |
| DT | ADDED | DYNATRACE INC | COM NEW | 268150109 | 9,275,749 | 0.33 | 211477.0 |
| RGLD | REDUCED | ROYAL GOLD INC | COM | 780287108 | 8,892,880 | 0.31 | 44600.0 |
| AM | ADDED | ANTERO MIDSTREAM CORP | COM | 03676B102 | 8,726,851 | 0.31 | 384010.0 |
| - | COPA HOLDINGS SA | CL A | P31076105 | 8,115,266 | 0.29 | 52227.0 | |
| FTNT | REDUCED | FORTINET INC | COM | 34959E109 | 7,987,739 | 0.28 | 52054.0 |
| CGAU | REDUCED | CENTERRA GOLD INC | COM | 152006102 | 7,984,360 | 0.28 | 504233.0 |
| - | SKEENA RES LTD NEW | COM | 83056P715 | 7,554,828 | 0.27 | 283866.0 | |
| ADM | NEW | ARCHER DANIELS MIDLAND CO | COM | 039483102 | 7,394,309 | 0.26 | 96890.0 |
| INTU | ADDED | INTUIT | COM | 461202103 | 7,387,559 | 0.26 | 28336.0 |
| MHO | REDUCED | M/I HOMES INC | COM | 55305B101 | 7,357,582 | 0.26 | 45809.0 |
| DTM | NEW | DT MIDSTREAM INC | COMMON STOCK | 23345M107 | 7,276,260 | 0.26 | 49640.0 |
| - | SS&C TECH HLDGS | COM | 78467J100 | 7,253,282 | 0.26 | 117022.0 | |
| - | CANADIAN NATL RY CO | COM | 136375102 | 7,179,033 | 0.25 | 60250.0 | |
| BCE | ADDED | BCE INC | COM NEW | 05534B760 | 7,093,223 | 0.25 | 329790.0 |
| - | DEVON ENERGY CORP NEW | COM | 25179M103 | 7,076,908 | 0.25 | 171460.0 | |
| - | PINNACLE WEST CAP CORP | COM | 723484101 | 6,966,641 | 0.25 | 65180.0 | |
| G | ADDED | GENPACT LIMITED | SHS | G3922B107 | 6,949,679 | 0.25 | 252992.0 |
| - | DOUBLEVERIFY HLDGS INC | COM | 25862V105 | 6,752,292 | 0.24 | 623608.0 | |
| GFI | NEW | GOLD FIELDS LTD | SPONSORED ADR | 38059T106 | 6,732,135 | 0.24 | 200640.0 |
| TRP | REDUCED | TC ENERGY CORP | COM | 87807B107 | 6,599,745 | 0.23 | 99810.0 |
| - | TRAVEL PLUS LEISURE CO | COM | 894164102 | 6,375,086 | 0.23 | 83502.0 | |
| - | OSISKO DEVELOPMENT CORP | COM NEW | 68828E809 | 6,367,339 | 0.23 | 2591180.0 | |
| SOBO | NEW | SOUTH BOW CORP | COM | 83671M105 | 6,328,286 | 0.22 | 179920.0 |
| HAPN | NEW | HAPPEN INC | COM NEW | 52603A208 | 6,175,654 | 0.22 | 298095.0 |
| FHI | ADDED | FEDERATED HERMES INC | CL B | 314211103 | 6,158,688 | 0.22 | 111652.0 |
| - | EASTMAN CHEM CO | COM | 277432100 | 6,085,885 | 0.22 | 90960.0 | |
| IT | ADDED | GARTNER INC | COM | 366651107 | 6,057,013 | 0.21 | 46780.0 |
| TROW | REDUCED | PRICE T ROWE GROUP INC | COM | 74144T108 | 5,935,947 | 0.21 | 52270.0 |
| INCY | ADDED | INCYTE CORP | COM | 45337C102 | 5,921,267 | 0.21 | 52291.0 |
| JAZZ | NEW | JAZZ PHARMACEUTICALS PLC | SHS USD | G50871105 | 5,913,394 | 0.21 | 24567.0 |
| FOXA | ADDED | FOX CORP | CL A COM | 35137L105 | 5,885,655 | 0.21 | 112972.0 |
| DOX | ADDED | AMDOCS LTD | SHS | G02602103 | 5,862,344 | 0.21 | 116121.0 |
| AVT | ADDED | AVNET INC | COM | 053807103 | 5,850,172 | 0.21 | 65939.0 |
| NBIX | REDUCED | NEUROCRINE BIOSCIENCES INC | COM | 64125C109 | 5,814,903 | 0.21 | 34541.0 |
| - | ACCENTURE PLC IRELAND | SHS CLASS A | G1151C101 | 5,764,422 | 0.2 | 46374.0 | |
| ANIP | ADDED | ANI PHARMACEUTICALS INC | COM | 00182C103 | 5,740,759 | 0.2 | 69426.0 |
| INFY | ADDED | INFOSYS LTD | SPONSORED ADR | 456788108 | 5,718,045 | 0.2 | 545691.0 |
| - | STRATEGIC ED INC | COM | 86272C103 | 5,698,236 | 0.2 | 74454.0 | |
| GEN | REDUCED | GEN DIGITAL INC | COM | 668771108 | 5,680,779 | 0.2 | 228498.0 |
| SAIC | ADDED | SCIENCE APPLICATIONS INTL CO | COM | 808625107 | 5,585,716 | 0.2 | 50646.0 |
| - | COGNIZANT TECHNOLOGY SOLUTIO | CL A | 192446102 | 5,518,409 | 0.2 | 142641.0 | |
| - | CANADIAN NAT RES LTD MED TER | COM | 136385101 | 5,402,181 | 0.19 | 136720.0 | |
| MMS | ADDED | MAXIMUS INC | COM | 577933104 | 5,366,463 | 0.19 | 99933.0 |
| - | JANUS HENDERSON GROUP PLC | ORD SHS | G4474Y214 | 5,038,974 | 0.18 | 97099.0 | |
| - | DORMAN PRODS INC | COM | 258278100 | 5,038,773 | 0.18 | 36968.0 | |
| AA | ADDED | ALCOA CORP | COM | 013872106 | 4,834,868 | 0.17 | 92830.0 |
| CMC | REDUCED | COMMERCIAL METALS CO | COM | 201723103 | 4,820,791 | 0.17 | 76911.0 |
| LEA | REDUCED | LEAR CORP | COM NEW | 521865204 | 4,507,674 | 0.16 | 33663.0 |
| CRM | ADDED | SALESFORCE INC | COM | 79466L302 | 4,472,764 | 0.16 | 28582.0 |
| - | ISHARES TR | MSCI CHINA A | 46434V514 | 4,381,707 | 0.15 | 114530.0 | |
| FSLR | ADDED | FIRST SOLAR INC | COM | 336433107 | 4,351,052 | 0.15 | 18461.0 |
| BBY | REDUCED | BEST BUY INC | COM | 086516101 | 4,321,648 | 0.15 | 57016.0 |
| - | FRANKLIN RESOURCES INC | COM | 354613101 | 4,264,675 | 0.15 | 128324.0 | |
| - | ARTISAN PARTNERS ASSET MGMT | CL A | 04316A108 | 4,215,174 | 0.15 | 122211.0 | |
| APTV | ADDED | APTIV PLC | COM SHS | G3265R107 | 4,101,645 | 0.15 | 66896.0 |
| - | PERDOCEO ED CORP | COM | 71363P106 | 3,916,804 | 0.14 | 122534.0 | |
| - | DAVE INC | CLASS A COM NEW | 23834J201 | 3,791,428 | 0.13 | 10187.0 | |
| AU | REDUCED | ANGLOGOLD ASHANTI PLC | COM SHS | G0378L100 | 3,789,317 | 0.13 | 46895.0 |
| - | BROOKFIELD CORP | CL A LTD VT SH | 11271J107 | 3,605,559 | 0.13 | 84750.0 | |
| OVV | NEW | OVINTIV INC | COM | 69047Q102 | 3,577,656 | 0.13 | 68026.0 |
| ADMA | NEW | ADMA BIOLOGICS INC | COM | 000899104 | 3,536,005 | 0.13 | 422958.0 |
| AUGO | NEW | AURA MINERALS INC | SHS NEW | G06973112 | 3,432,846 | 0.12 | 54596.0 |
| SKYW | REDUCED | SKYWEST | COM | 830879102 | 3,344,161 | 0.12 | 33704.0 |
| IVZ | ADDED | INVESCO LTD | SHS | G491BT108 | 3,232,800 | 0.11 | 122638.0 |
| WRBY | ADDED | WARBY PARKER INC | CL A COM | 93403J106 | 3,185,372 | 0.11 | 105104.0 |
| - | MATADOR RES CO | COM | 576485205 | 3,147,178 | 0.11 | 63290.0 | |
| BUD | REDUCED | ANHEUSER BUSCH INBEV SA/NV | SPONSORED ADR | 03524A108 | 3,127,779 | 0.11 | 38000.0 |
| INSW | ADDED | INTERNATIONAL SEAWAYS INC | COM | Y41053102 | 3,115,968 | 0.11 | 40730.0 |
| FRO | REDUCED | FRONTLINE PLC | COM | M46528101 | 2,987,708 | 0.11 | 85969.0 |
| - | OKEANIS ECO TANKERS COR | SHS | Y64177101 | 2,960,275 | 0.1 | 59137.0 | |
| EAT | REDUCED | BRINKER INTL INC | COM | 109641100 | 2,896,344 | 0.1 | 17259.0 |
| - | DOLLAR GEN CORP | COM | 256677105 | 2,889,554 | 0.1 | 25130.0 | |
| DINO | REDUCED | HF SINCLAIR CORP | COM | 403949100 | 2,862,716 | 0.1 | 41146.0 |
| TGT | REDUCED | TARGET CORP | COM | 87612E106 | 2,823,834 | 0.1 | 21644.0 |
| CVX | ADDED | CHEVRON CORP NEW | COM | 166764100 | 2,814,841 | 0.1 | 17000.0 |
| - | BOISE CASCADE CO DEL | COM | 09739D100 | 2,795,814 | 0.1 | 36054.0 | |
| - | CHOICE HOTELS INTL INC | COM | 169905106 | 2,755,831 | 0.1 | 25019.0 | |
| KMX | REDUCED | CARMAX INC | COM | 143130102 | 2,742,520 | 0.1 | 51910.0 |
| - | PAN AMERN SILVER CORP | COM | 697900108 | 2,717,796 | 0.1 | 60745.0 | |
| STNG | NEW | SCORPIO TANKERS INC | SHS | Y7542C130 | 2,662,974 | 0.09 | 38491.0 |
| CHWY | NEW | CHEWY INC | CL A | 16679L109 | 2,628,418 | 0.09 | 133908.0 |
| - | ELECTRONIC ARTS INC | COM | 285512109 | 2,625,331 | 0.09 | 12818.0 | |
| - | OLLIES BARGAIN OUTLET HLDGS | COM | 681116109 | 2,608,300 | 0.09 | 33964.0 | |
| - | AUTOMATIC DATA PROCESSING IN | COM | 053015103 | 2,588,942 | 0.09 | 11573.0 | |
| - | PAYLOCITY HLDG CORP | COM | 70438V106 | 2,483,634 | 0.09 | 23786.0 | |
| - | SPROUTS FMRS MKT INC | COM | 85208M102 | 2,455,041 | 0.09 | 29058.0 | |
| CNM | REDUCED | CORE & MAIN INC | CL A | 21874C102 | 2,446,976 | 0.09 | 50770.0 |
| ULTA | NEW | ULTA BEAUTY INC | COM | 90384S303 | 2,441,641 | 0.09 | 5420.0 |
| - | ARMSTRONG WORLD INDS INC NEW | COM | 04247X102 | 2,416,811 | 0.09 | 15082.0 | |
| - | THE TRADE DESK INC | COM CL A | 88339J105 | 2,416,244 | 0.09 | 133788.0 | |
| - | ACADEMY SPORTS & OUTDOORS IN | COM | 00402L107 | 2,387,257 | 0.08 | 50708.0 | |
| DPZ | ADDED | DOMINOS PIZZA INC | COM | 25754A201 | 2,382,293 | 0.08 | 8056.0 |
| JPM | UNCHANGED | JPMORGAN CHASE & CO | COM | 46625H100 | 2,288,807 | 0.08 | 7000.0 |
| CHDN | NEW | CHURCHILL DOWNS INC | COM | 171484108 | 2,288,785 | 0.08 | 25561.0 |
| - | CENTURY ALUM CO | COM | 156431108 | 2,274,731 | 0.08 | 49494.0 | |
| FIVE | ADDED | FIVE BELOW INC | COM | 33829M101 | 2,248,332 | 0.08 | 12519.0 |
| - | BOOT BARN HLDGS INC | COM | 099406100 | 2,178,794 | 0.08 | 13278.0 | |
| BKE | NEW | BUCKLE INC | COM | 118440106 | 2,159,544 | 0.08 | 51230.0 |
| LTH | REDUCED | LIFE TIME GROUP HOLDINGS INC | COMMON STOCK | 53190C102 | 2,124,787 | 0.08 | 52084.0 |
| URBN | REDUCED | URBAN OUTFITTERS INC | COM | 917047102 | 2,039,883 | 0.07 | 28819.0 |
| - | MOHAWK INDS INC | COM | 608190104 | 1,965,823 | 0.07 | 16220.0 | |
| KR | NEW | KROGER | COM | 501044101 | 1,917,187 | 0.07 | 34563.0 |
| DRI | REDUCED | DARDEN RESTAURANTS INC | COM | 237194105 | 1,805,969 | 0.06 | 8776.0 |
| CAKE | REDUCED | CHEESECAKE FACTORY INC | COM | 163072101 | 1,723,417 | 0.06 | 21691.0 |
| - | TAIWAN SEMICONDUCTOR MFG LTD | SPONSORED ADS | 874039100 | 1,681,595 | 0.06 | 3525.0 | |
| VZLA | UNCHANGED | VIZSLA SILVER CORP | COM NEW | 92859G608 | 1,639,765 | 0.06 | 499777.0 |
| GCT | NEW | GIGACLOUD TECHNOLOGY INC | CLASS A ORD | G38644103 | 1,544,150 | 0.05 | 48921.0 |
| BYD | REDUCED | BOYD GAMING CORP | COM | 103304101 | 1,488,234 | 0.05 | 16867.0 |
| SNX | REDUCED | TD SYNNEX CORPORATION | COM | 87162W100 | 1,427,905 | 0.05 | 5347.0 |
| - | DILLARDS INC | CL A | 254067101 | 1,358,667 | 0.05 | 2574.0 | |
| ARCO | UNCHANGED | ARCOS DORADOS HOLDINGS INC | SHS CLASS -A - | G0457F107 | 1,023,645 | 0.04 | 127142.0 |
| - | FOMENTO ECONOMICO MEXICANO S | SPON ADR UNITS | 344419106 | 1,022,082 | 0.04 | 8000.0 | |
| - | M & T BK CORP | COM | 55261F104 | 951,000 | 0.03 | 4000.0 | |
| - | FRANCO NEV CORP | COM | 351858105 | 837,013 | 0.03 | 4020.0 | |
| MKL | ADDED | MARKEL GROUP INC | COM | 570535104 | 821,319 | 0.03 | 421.0 |
| - | NOVAGOLD RES INC | COM NEW | 66987E206 | 615,192 | 0.02 | 103160.0 | |
| - | WELLS FARGO CO NEW | COM | 949746101 | 412,749 | 0.01 | 5000.0 | |
| GLDG | UNCHANGED | GOLDMINING INC | COM | 38149E101 | 362,286 | 0.01 | 401996.0 |
| - | EPR PPTYS | COM SH BEN INT | 26884U109 | 362,224 | 0.01 | 6251.0 | |
| CMG | NEW | CHIPOTLE MEXICAN GRILL INC | COM | 169656105 | 327,334 | 0.01 | 9638.0 |
| SITE | REDUCED | SITEONE LANDSCAPE SUPPLY INC | COM | 82982L103 | 318,855 | 0.01 | 2790.0 |
| KBH | NEW | KB HOME | COM | 48666K109 | 297,353 | 0.01 | 4756.0 |
| TOL | REDUCED | TOLL BROTHERS INC | COM | 889478103 | 276,807 | 0.01 | 1682.0 |
| SKY | REDUCED | CHAMPION HOMES INC | COM | 830830105 | 266,800 | 0.01 | 3031.0 |
| - | BJS WHSL CLUB HLDGS INC | COM | 05550J101 | 261,026 | 0.01 | 2996.0 | |
| - | D R HORTON INC | COM | 23331A109 | 256,581 | 0.01 | 1577.0 | |
| - | ARROW ELECTRS INC | COM | 042735100 | 249,417 | 0.01 | 1170.0 | |
| DHT | REDUCED | DHT HOLDINGS INC | SHS NEW | Y2065G121 | 188,979 | 0.01 | 11445.0 |
| PAGS | REDUCED | PAGSEGURO DIGITAL LTD | COM CL A | G68707101 | 109,340 | 0.0 | 12095.0 |
Quarterly portfolios
| Period | Filed | Value ($) | Positions | Vol % | Beta | Max DD % |
|---|---|---|---|---|---|---|
| 2026-06-30 | 2026-07-30 | 2,828,353,027 | 187 | 8.494254 | 0.369968 | 12.781197 |
| 2026-03-31 | 2026-05-13 | 2,444,304,720 | 176 | 10.396385 | 0.388085 | 21.714001 |
| 2025-12-31 | 2026-01-28 | 2,196,533,775 | 154 | 8.714127 | 0.303984 | 18.386799 |
| 2025-09-30 | 2025-11-03 | 1,799,106,282 | 101 | 7.359767 | 0.258939 | 9.472241 |
| 2025-03-31 | 2025-05-09 | 2,597,519,244 | 94 | 9.467385 | 0.355919 | 15.005606 |
| 2024-12-31 | 2025-02-07 | 2,768,751,329 | 101 | 8.924801 | 0.330207 | 14.163921 |