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Sarah Ketterer Causeway Capital Management

AUM $9.24B
1-Year Est. Return 21.27%
 

Sarah Ketterer is co-founder and CEO of Causeway Capital Management, a firm specializing in international and global value equities. Causeway is known for disciplined valuation work across developed and emerging markets. Ketterer’s commentary is often sought for perspective on non-U.S. equities, currencies, and relative value abroad.

This Fund
S&P 500
This Quarter Est. Return
+8.29%
1 Year Est. Return
+21.27%
3 Year Est. Return
+72.78%
5 Year Est. Return
+71.25%
10 Year Est. Return
+497.07%
AUM
$9.24B
AUM Growth
+$1.09B
Cap. Flow
+$508M
Cap. Flow %
5.5%
Top 10 Hldgs %
65.32%
Holding
129
New
22
Increased
49
Reduced
46
Closed
7

Top Buys

Rank Stock Value
1
AZN icon
AstraZeneca
AZN
+$364M
2
DB icon
Deutsche Bank
DB
+$142M
3
CCL icon
Carnival Corporation Ltd
CCL
+$112M
4
NTES icon
NetEase
NTES
+$67.6M
5
BSX icon
Boston Scientific
BSX
+$39.1M

Top Sells

Rank Stock Value
1
CP icon
Canadian Pacific Kansas City
CP
+$178M
2
WHR icon
Whirlpool
WHR
+$64.8M
3
CTSH icon
Cognizant
CTSH
+$53.2M
4
APTV icon
Aptiv
APTV
+$47.5M
5
BP icon
BP
BP
+$41.8M

Sector Composition

Rank Sector Weight
1 Healthcare 25.55%
2 Consumer Discretionary 22.18%
3 Financials 19.31%
4 Industrials 12.93%
5 Technology 5.87%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
AZN icon
1
AstraZeneca
AZN
$257B
$1.75B 18.97%
9,357,390
+1,935,641
+26% +$364M
CCL icon
2
Carnival Corporation Ltd
CCL
$35.2B
$1.18B 12.74%
41,190,606
+4,094,013
+11% +$112M
DB icon
3
Deutsche Bank
DB
$71.1B
$994M 10.77%
29,358,318
+4,396,284
+18% +$142M
SW
4
Smurfit Westrock
SW
$25.9B
$696M 7.53%
15,039,041
-526,987
-3% -$21.8M
CP icon
5
Canadian Pacific Kansas City
CP
$85B
$582M 6.3%
6,711,483
-2,080,898
-24% -$178M
TSM icon
6
TSMC
TSM
$2.17T
$254M 2.75%
532,052
+23,581
+5% +$9.57M
ALK icon
7
Alaska Air
ALK
$4.51B
$166M 1.8%
3,183,163
+680,952
+27% +$29.1M
CARR icon
8
Carrier Global
CARR
$49.8B
$160M 1.73%
2,178,506
+75,628
+4% +$4.94M
LYV icon
9
Live Nation Entertainment
LYV
$42.4B
$129M 1.4%
706,301
+179,883
+34% +$29.6M
MRK icon
10
Merck
MRK
$376B
$123M 1.33%
954,932
+100,720
+12% +$11.8M
META icon
11
Meta Platforms (Facebook)
META
$1.4T
$113M 1.23%
201,459
+56,660
+39% +$34.6M
GOOG icon
12
Alphabet (Google) Class C
GOOG
$4.18T
$112M 1.21%
316,217
-21,081
-6% -$7.53M
BCS icon
13
Barclays
BCS
$90.2B
$107M 1.16%
3,975,718
-98,349
-2% -$2.37M
BAP icon
14
Credicorp
BAP
$30.1B
$99.5M 1.08%
255,436
+10,323
+4% +$3.53M
SAP icon
15
SAP
SAP
$252B
$97.1M 1.05%
629,801
+173,796
+38% +$29.6M
BABA icon
16
Alibaba
BABA
$286B
$95.5M 1.03%
995,040
-73,850
-7% -$9.25M
AXS icon
17
AXIS Capital
AXS
$7.2B
$92.4M 1%
859,727
+43,933
+5% +$4.4M
EG icon
18
Everest Group
EG
$14.2B
$90.3M 0.98%
252,702
+2,694
+1% +$922K
IR icon
19
Ingersoll Rand
IR
$31.2B
$84.8M 0.92%
1,033,693
+407,631
+65% +$31.5M
PHG icon
20
Philips
PHG
$26.8B
$83.3M 0.9%
3,061,962
+514,579
+20% +$13.6M
NVO
21
Novo Nordisk
NVO
$207B
$80.4M 0.87%
1,677,615
+503,402
+43% +$21.6M
JLL icon
22
Jones Lang LaSalle
JLL
$17.8B
$76.9M 0.83%
248,252
+61,978
+33% +$19.3M
CFG icon
23
Citizens Financial Group
CFG
$29.4B
$75.5M 0.82%
1,077,093
+28,567
+3% +$1.84M
NTES icon
24
NetEase
NTES
$82.1B
$73.3M 0.79%
+572,412
New +$67.6M
DEO icon
25
Diageo
DEO
$52.6B
$72.3M 0.78%
899,015
+232,701
+35% +$18.8M
1
2 3 4 5

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Sarah Ketterer's Q2 2026 Portfolio in Review

As of Q2 2026, Sarah Ketterer held 129 positions worth $9.24B, up 13% from $8.15B the previous quarter. Its ten largest holdings account for 65% of the portfolio.

Sarah Ketterer deployed $508M of net new capital in Q2 2026, opening 22 new positions and adding to 49 existing holdings. Its largest new stake was NetEase: 572,412 shares worth $73.3M.

By sector, the portfolio is most concentrated in Healthcare at 26% of assets, up from 24% a quarter earlier, followed by Consumer Discretionary and Financials.

On the sell side, the largest reduction was Canadian Pacific Kansas City, an estimated $178M trimmed.

  • Sarah Ketterer's largest Q2 2026 buy was NetEase: 572,412 shares worth $73.3M.
  • Sarah Ketterer added most to AstraZeneca in Q2 2026, an estimated $364M increase.
  • Sarah Ketterer's biggest Q2 2026 reduction was Canadian Pacific Kansas City, cutting an estimated $178M.
  • Sarah Ketterer fully exited Whirlpool in Q2 2026, selling an estimated $64.8M.
  • Sarah Ketterer's ten largest holdings make up 65% of its $9.24B portfolio in Q2 2026.
  • Sarah Ketterer opened 22 new positions and closed 7 in Q2 2026.
  • Sarah Ketterer's portfolio value rose 13% quarter-over-quarter to $9.24B.

Based on Causeway Capital Management's 13F filing for Q2 2026, filed 13 Aug 2026.