13F

Position

Ruffer LLP in Centerra Gold Inc.

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Estimated mark uses implied 13F prices (value ÷ shares). Adds are treated as happening at this quarter’s mark; cuts at last quarter’s. Share jumps can be splits, not buys. This is not realized P&L.

Latest estimated mark $2.44M$14.44$17.78

QuarterSharesValueImplied pxEst. markFlowWeight
Q4 20253.26M$47M2.1%
Q1 2026730.8K$13M$17.78$2.44M−$36.4M0.5%