13F

Position

Ruffer LLP in Equinox Gold Corp.

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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 $1.6M$14.08$14.47

QuarterSharesValueImplied pxEst. markFlowWeight
Q4 20255.79M$81.5M3.7%
Q1 20264.13M$59.7M$14.47$1.6M−$23.4M2.4%