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 |
Linde
LIN
|
+$1.3B |
| 2 |
Ovintiv
OVV
|
+$187M |
| 3 |
Merck
MRK
|
+$137M |
| 4 |
Alaska Air
ALK
|
+$71.5M |
| 5 |
Marathon Petroleum
MPC
|
+$50.6M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Manulife Financial
MFC
|
+$278M |
| 2 |
Qualcomm
QCOM
|
+$179M |
| 3 |
Canadian Pacific Kansas City
CP
|
+$162M |
| 4 |
Advance Auto Parts
AAP
|
+$136M |
| 5 |
Bank of America
BAC
|
+$136M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Financials | 18.17% |
| 2 | Materials | 15.67% |
| 3 | Energy | 15.25% |
| 4 | Technology | 14.03% |
| 5 | Communication Services | 13.7% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
51
SAP
SAP
$252B
| $25.7M | 0.26% |
+222,749
| New | +$23.7M |
|
52
Vodafone
VOD
$36.9B
| $20.8M | 0.21% |
1,144,704
+343,743
| +43% | +$6.38M |
|
53
POSCO
PKX
$17.3B
| $20.5M | 0.21% |
361,378
-624
| -0.2% | -$36.1K |
|
54
TotalEnergies
TTE
$199B
| $16.9M | 0.17% |
+303,421
| New | +$3.26M |
|
55
Sumitomo Mitsui Financial
SMFG
$159B
| $14.4M | 0.15% |
2,049,855
+240,568
| +13% | +$1.72M |
|
56
Lloyds Banking Group
LYG
$87.3B
| $13.7M | 0.14% |
4,278,781
+119,656
| +3% | +$366K |
|
57
ING
ING
$99.5B
| $12.5M | 0.13% |
1,027,593
+109,253
| +12% | +$1.32M |
|
|
CUK
58
DELISTED
Carnival PLC
CUK
| $11.7M | 0.12% |
234,851
-26,821
| -10% | -$1.47M |
|
|
AZUL
59
DELISTED
Azul
AZUL
| $9.93M | 0.1% |
+340,000
| New | +$10.2M |
|
60
RELX
RELX
$62.6B
| $8.12M | 0.08% |
+378,428
| New | +$8.26M |
|
61
Vanguard FTSE Emerging Markets ETF
VWO
$126B
| $5.99M | 0.06% |
140,909
+77,467
| +122% | +$3.19M |
|
62
Xtrackers Harvest CSI 300 China A-Shares ETF
ASHR
$1.57B
| $5.38M | 0.05% |
187,207
+114,307
| +157% | +$2.92M |
|
|
SNP
63
DELISTED
CHINA PETROLEUM & CHEMICAL CORPORATION ADS (REP 100 ORDINARY H SHARES)
SNP
| $3.34M | 0.03% |
42,029
+833
| +2% | +$68.3K |
|
64
America Movil
AMX
$71.3B
| $3.2M | 0.03% |
224,327
-1,027,132
| -82% | -$15.5M |
|
65
New Oriental
EDU
$8.88B
| $2.33M | 0.02% |
25,839
-6,000
| -19% | -$452K |
|
66
iShares MSCI Taiwan ETF
EWT
$11.2B
| $2.05M | 0.02% |
59,200
| – | – |
|
67
HDFC Bank
HDB
$121B
| $1.95M | 0.02% |
67,272
| – | – |
|
68
Dr. Reddy's Laboratories
RDY
$10.1B
| $1.75M | 0.02% |
216,000
| – | – |
|
69
VanEck India Growth Leaders ETF
GLIN
$92.8M
| $1.62M | 0.02% |
36,839
+15,962
| +76% | +$649K |
|
70
Chunghwa Telecom
CHT
$33.7B
| $1.57M | 0.02% |
44,200
| – | – |
|
71
LG Display
LPL
$3.28B
| $1.02M | 0.01% |
118,113
| – | – |
|
|
DQ
72
Daqo New Energy
DQ
$919M
| $1.01M | 0.01% |
153,520
| – | – |
|
73
Wipro
WIT
$18.7B
| $875K | 0.01% |
439,900
+93,161
| +27% | +$190K |
|
|
TTM
74
DELISTED
Tata Motors Limited
TTM
| $868K | 0.01% |
69,087
-147,160
| -68% | -$1.84M |
|
|
AUO
75
DELISTED
AU Optronics Corp
AUO
| $767K | 0.01% |
210,600
| – | – |
|
Similar funds
Sarah Ketterer's Q1 2019 Portfolio in Review
As of Q1 2019, Sarah Ketterer held 100 positions worth $9.9B, up 18% from $8.39B the previous quarter. Its ten largest holdings account for 60% of the portfolio.
Sarah Ketterer deployed $386M of net new capital in Q1 2019, opening 10 new positions and adding to 31 existing holdings. Its largest new stake was Linde: 7,848,262 shares worth $1.38B.
By sector, the portfolio is most concentrated in Financials at 18% of assets, down from 24% a quarter earlier, followed by Materials and Energy.
On the sell side, the largest reduction was Manulife Financial, an estimated $278M trimmed.
- Sarah Ketterer's largest Q1 2019 buy was Linde: 7,848,262 shares worth $1.38B.
- Sarah Ketterer added most to Ovintiv in Q1 2019, an estimated $187M increase.
- Sarah Ketterer's biggest Q1 2019 reduction was Manulife Financial, cutting an estimated $278M.
- Sarah Ketterer fully exited Qualcomm in Q1 2019, selling an estimated $179M.
- Sarah Ketterer's ten largest holdings make up 60% of its $9.9B portfolio in Q1 2019.
- Sarah Ketterer opened 10 new positions and closed 11 in Q1 2019.
- Sarah Ketterer's portfolio value rose 18% quarter-over-quarter to $9.9B.
Based on Causeway Capital Management's 13F filing for Q1 2019, filed 15 May 2019.