Sarah Ketterer Causeway Capital Management
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.
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
Alphabet (Google) Class C
GOOG
|
+$105M |
| 2 |
Booking.com
BKNG
|
+$78M |
| 3 |
Las Vegas Sands
LVS
|
+$77.2M |
| 4 |
Alaska Air
ALK
|
+$58.5M |
| 5 |
Aflac
AFL
|
+$58.4M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Linde
LIN
|
+$348M |
| 2 |
Baidu
BIDU
|
+$252M |
| 3 |
Ryanair
RYAAY
|
+$176M |
| 4 |
Microsoft
MSFT
|
+$94.7M |
| 5 |
FedEx
FDX
|
+$85.6M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Consumer Discretionary | 19.23% |
| 2 | Technology | 18.92% |
| 3 | Communication Services | 15.98% |
| 4 | Industrials | 14.88% |
| 5 | Financials | 10.9% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
26
Broadcom
AVGO
$1.75T
| $64.7M | 1.2% |
1,774,560
-817,090
| -32% | -$27.4M |
|
27
Sabre
SABR
$848M
| $61M | 1.14% |
9,374,393
-374,749
| -4% | -$2.78M |
|
|
28
Aflac
AFL
$58.2B
| $58.3M | 1.08% |
+1,603,016
| New | +$58.4M |
|
29
ICICI Bank
IBN
$107B
| $58.1M | 1.08% |
5,908,271
-241,111
| -4% | -$2.4M |
|
30
New Oriental
EDU
$8.88B
| $57.5M | 1.07% |
384,786
-101,222
| -21% | -$14.6M |
|
31
Exelon
EXC
$45.1B
| $57.3M | 1.07% |
2,247,199
+583,597
| +35% | +$15.5M |
|
|
32
Alaska Air
ALK
$4.51B
| $57.3M | 1.07% |
+1,563,096
| New | +$58.5M |
|
33
Essent Group
ESNT
$6.12B
| $55.5M | 1.03% |
1,500,137
+342,351
| +30% | +$12.2M |
|
34
Yum China
YUMC
$16.9B
| $55.3M | 1.03% |
1,044,933
+107,372
| +11% | +$5.68M |
|
35
Genpact
G
$6.24B
| $40.5M | 0.75% |
1,040,884
-163,787
| -14% | -$6.45M |
|
36
Vipshop
VIPS
$6.98B
| $39.8M | 0.74% |
2,543,978
-213,854
| -8% | -$4.19M |
|
37
ConocoPhillips
COP
$162B
| $39.7M | 0.74% |
+1,209,722
| New | +$45.8M |
|
|
MBT
38
DELISTED
Mobile TeleSystems Public Joint Stock Company American Depositary Shares (Each representing 2 Shares
MBT
| $39M | 0.73% |
4,471,971
-392,680
| -8% | -$3.57M |
|
39
Boston Properties
BXP
$10.8B
| $35.4M | 0.66% |
+441,175
| New | +$38.5M |
|
40
Moelis & Co
MC
$5.06B
| $31.5M | 0.59% |
897,690
-261,988
| -23% | -$8.28M |
|
41
ING
ING
$99.5B
| $30.5M | 0.57% |
4,309,185
+805,538
| +23% | +$6.16M |
|
42
Novartis
NVS
$302B
| $27.4M | 0.51% |
315,018
-11,168
| -3% | -$967K |
|
43
Takeda Pharmaceutical
TAK
$58.1B
| $26.4M | 0.49% |
1,478,524
-61,855
| -4% | -$1.13M |
|
|
ABB
44
DELISTED
ABB Ltd
ABB
| $25.4M | 0.47% |
997,728
-410,279
| -29% | -$10.5M |
|
45
British American Tobacco
BTI
$121B
| $24.6M | 0.46% |
681,051
+32,228
| +5% | +$1.13M |
|
46
HDFC Bank
HDB
$121B
| $23.6M | 0.44% |
945,936
+639,664
| +209% | +$15.5M |
|
47
Xtrackers Harvest CSI 300 China A-Shares ETF
ASHR
$1.57B
| $22.8M | 0.43% |
662,402
-46,077
| -7% | -$1.58M |
|
|
CHL
48
DELISTED
China Mobile Limited
CHL
| $20.1M | 0.37% |
626,140
-5,005
| -0.8% | -$176K |
|
49
Barclays
BCS
$90.2B
| $19.7M | 0.37% |
3,924,680
+172,502
| +5% | +$953K |
|
50
SAP
SAP
$252B
| $17.7M | 0.33% |
113,867
-40,593
| -26% | -$6.45M |
|
Similar funds
Sarah Ketterer's Q3 2020 Portfolio in Review
As of Q3 2020, Sarah Ketterer held 90 positions worth $5.37B, down 3.2% from $5.55B the previous quarter. Its ten largest holdings account for 55% of the portfolio.
Sarah Ketterer withdrew a net $801M in Q3 2020, closing 11 positions and reducing 40 holdings. Its most notable exit was Microsoft, an estimated $94.7M position sold in full.
By sector, the portfolio is most concentrated in Consumer Discretionary at 19% of assets, up from 12% a quarter earlier, followed by Technology and Communication Services.
Against the trend, Sarah Ketterer opened a new position in Alphabet (Google) Class C worth $102M.
- Sarah Ketterer's largest Q3 2020 buy was Alphabet (Google) Class C: 1,381,540 shares worth $102M.
- Sarah Ketterer added most to Alibaba in Q3 2020, an estimated $44.5M increase.
- Sarah Ketterer's biggest Q3 2020 reduction was Linde, cutting an estimated $348M.
- Sarah Ketterer fully exited Microsoft in Q3 2020, selling an estimated $94.7M.
- Sarah Ketterer's ten largest holdings make up 55% of its $5.37B portfolio in Q3 2020.
- Sarah Ketterer opened 11 new positions and closed 11 in Q3 2020.
- Sarah Ketterer's portfolio value fell 3.2% quarter-over-quarter to $5.37B.
Based on Causeway Capital Management's 13F filing for Q3 2020, filed 13 Nov 2020.