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 |
Citigroup
C
|
+$38.9M |
| 2 |
TSMC
TSM
|
+$37.9M |
| 3 |
Alibaba
BABA
|
+$36.5M |
| 4 |
Fomento Económico Mexicano
FMX
|
+$30.1M |
| 5 |
Infosys
INFY
|
+$29M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
SNP
CHINA PETROLEUM & CHEMICAL CORPORATION ADS (REP 100 ORDINARY H SHARES)
SNP
|
+$1.64B |
| 2 |
Delta Air Lines
DAL
|
+$172M |
| 3 |
Mattel
MAT
|
+$123M |
| 4 |
Altria Group
MO
|
+$71.7M |
| 5 |
NOV
NOV
|
+$53.5M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Technology | 26% |
| 2 | Financials | 18.77% |
| 3 | Healthcare | 14.42% |
| 4 | Consumer Discretionary | 13.11% |
| 5 | Industrials | 7.85% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
51
Vodafone
VOD
$36.9B
| $14M | 0.32% |
428,546
-53,479
| -11% | -$1.67M |
|
52
SAP
SAP
$252B
| $12.9M | 0.3% |
163,532
-32,060
| -16% | -$2.49M |
|
53
UBS Group
UBS
$163B
| $12.5M | 0.29% |
724,888
-676,330
| -48% | -$11M |
|
|
MBT
54
DELISTED
Mobile TeleSystems Public Joint Stock Company American Depositary Shares (Each representing 2 Shares
MBT
| $7.57M | 0.17% |
936,122
| – | – |
|
55
HSBC
HSBC
$357B
| $6.77M | 0.16% |
228,038
-493,406
| -68% | -$14.6M |
|
56
ING
ING
$99.5B
| $6.71M | 0.15% |
+546,918
| New | +$6.56M |
|
57
Korea Electric Power
KEP
$14.5B
| $5.67M | 0.13% |
220,100
-21,600
| -9% | -$493K |
|
|
JKS
58
JinkoSolar
JKS
$834M
| $4.23M | 0.1% |
194,200
+39,100
| +25% | +$840K |
|
|
59
NOV
NOV
$7.28B
| $3.49M | 0.08% |
112,100
-1,752,366
| -94% | -$53.5M |
|
|
SNP
60
DELISTED
CHINA PETROLEUM & CHEMICAL CORPORATION ADS (REP 100 ORDINARY H SHARES)
SNP
| $2.9M | 0.07% |
44,510
-28,357,300
| -100% | -$1.64B |
|
|
AUO
61
DELISTED
AU Optronics Corp
AUO
| $2.44M | 0.06% |
827,500
+119,100
| +17% | +$324K |
|
62
LG Display
LPL
$3.28B
| $2.32M | 0.05% |
203,100
+26,000
| +15% | +$252K |
|
|
63
Mattel
MAT
$4.15B
| $1.8M | 0.04% |
41,400
-4,059,163
| -99% | -$123M |
|
|
PTR
64
DELISTED
PETROCHINA COMPANY LIMITED ADS (REP 100 H SHARES)
PTR
| $1.42M | 0.03% |
20,207
+3,400
| +20% | +$215K |
|
65
Chunghwa Telecom
CHT
$33.7B
| $1.05M | 0.02% |
31,000
| – | – |
|
66
KT
KT
$9B
| $1.02M | 0.02% |
75,800
| – | – |
|
67
HDFC Bank
HDB
$121B
| $864K | 0.02% |
56,064
| – | – |
|
|
BRFS
68
DELISTED
BRF SA
BRFS
| $836K | 0.02% |
58,800
| – | – |
|
69
China Yuchai International
CYD
$1.5B
| $660K | 0.02% |
67,000
| – | – |
|
70
VanEck India Growth Leaders ETF
GLIN
$92.8M
| $365K | 0.01% |
9,500
+5,500
| +138% | +$203K |
|
|
VEDL
71
DELISTED
Vedanta Limited American Depostary Shares (Each representing four equity shares)
VEDL
| $270K | 0.01% |
49,075
| – | – |
|
72
Wipro
WIT
$18.7B
| $265K | 0.01% |
112,533
| – | – |
|
73
Ambev
ABEV
$44.4B
| $182K | ﹤0.01% |
35,200
-1,737,500
| -98% | -$7.99M |
|
|
VALE.P
74
DELISTED
Vale S A
VALE.P
| $24K | ﹤0.01% |
7,800
| – | – |
|
75
Credicorp
BAP
$30.1B
| – | – |
-17,266
| Closed | -$1.68M |
|
Similar funds
Sarah Ketterer's Q1 2016 Portfolio in Review
As of Q1 2016, Sarah Ketterer held 80 positions worth $4.34B, down 8% from $4.72B the previous quarter. Its ten largest holdings account for 45% of the portfolio.
Sarah Ketterer withdrew a net $1.94B in Q1 2016, closing 6 positions and reducing 32 holdings. Its most notable exit was Delta Air Lines, an estimated $172M position sold in full.
By sector, the portfolio is most concentrated in Technology at 26% of assets, up from 23% a quarter earlier, followed by Financials and Healthcare.
Against the trend, Sarah Ketterer opened a new position in Fomento Económico Mexicano worth $31.7M.
- Sarah Ketterer's largest Q1 2016 buy was Fomento Económico Mexicano: 329,200 shares worth $31.7M.
- Sarah Ketterer added most to Citigroup in Q1 2016, an estimated $38.9M increase.
- Sarah Ketterer's biggest Q1 2016 reduction was CHINA PETROLEUM & CHEMICAL CORPORATION ADS (REP 100 ORDINARY H SHARES), cutting an estimated $1.64B.
- Sarah Ketterer fully exited Delta Air Lines in Q1 2016, selling an estimated $172M.
- Sarah Ketterer's ten largest holdings make up 45% of its $4.34B portfolio in Q1 2016.
- Sarah Ketterer opened 3 new positions and closed 6 in Q1 2016.
- Sarah Ketterer's portfolio value fell 8% quarter-over-quarter to $4.34B.
Based on Causeway Capital Management's 13F filing for Q1 2016, filed 16 May 2016.