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 |
Manulife Financial
MFC
|
+$521M |
| 2 |
FirstEnergy
FE
|
+$131M |
| 3 |
Mondelez International
MDLZ
|
+$119M |
| 4 |
Wells Fargo
WFC
|
+$107M |
| 5 |
Eli Lilly
LLY
|
+$66.5M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
CSRA
CSRA Inc.
CSRA
|
+$193M |
| 2 |
ARCH
Arch Resources, Inc.
ARCH
|
+$78M |
| 3 |
UnitedHealth
UNH
|
+$64.6M |
| 4 |
PDCE
PDC Energy, Inc.
PDCE
|
+$39.9M |
| 5 |
Alibaba
BABA
|
+$36.5M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Financials | 19.72% |
| 2 | Technology | 15.38% |
| 3 | Energy | 14.04% |
| 4 | Communication Services | 13.47% |
| 5 | Industrials | 12.45% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
76
TAL Education Group
TAL
$6.28B
| $389K | ﹤0.01% |
10,500
| – | – |
|
|
JASO
77
DELISTED
JA Solar Holdings, Co., Ltd
JASO
| $295K | ﹤0.01% |
45,000
| – | – |
|
78
NetEase
NTES
$82.1B
| $280K | ﹤0.01% |
5,000
-360,455
| -99% | -$22.6M |
|
|
PTR
79
DELISTED
PETROCHINA COMPANY LIMITED ADS (REP 100 H SHARES)
PTR
| $238K | ﹤0.01% |
3,407
| – | – |
|
|
JKS
80
JinkoSolar
JKS
$834M
| $228K | ﹤0.01% |
12,500
-8,700
| -41% | -$177K |
|
81
Huazhu Hotels Group
HTHT
$15.1B
| $164K | ﹤0.01% |
4,988
-134,612
| -96% | -$4.92M |
|
|
SODA
82
DELISTED
SodaStream International Ltd
SODA
| $55K | ﹤0.01% |
600
| – | – |
|
|
CEO
83
DELISTED
CNOOC Limited
CEO
| $20K | ﹤0.01% |
135
-102,960
| -100% | -$15.5M |
|
84
ArcelorMittal
MT
$54.4B
| $15K | ﹤0.01% |
460
-770
| -63% | -$26.4K |
|
85
UBS Group
UBS
$163B
| $6K | ﹤0.01% |
360
-250
| -41% | -$4.75K |
|
86
Ryanair
RYAAY
$28.9B
| $1K | ﹤0.01% |
15
| – | – |
|
87
Autohome
ATHM
$2.56B
| – | – |
-78,600
| Closed | -$5.08M |
|
88
iShares MSCI India ETF
INDA
$6.61B
| – | – |
-182,800
| Closed | -$6.59M |
|
89
JD.com
JD
$39.7B
| – | – |
-17,400
| Closed | -$721K |
|
|
MOMO
90
Hello Group
MOMO
$850M
| – | – |
-537,600
| Closed | -$13.2M |
|
91
Sanofi
SNY
$110B
| – | – |
-361
| Closed | -$16K |
|
92
TotalEnergies
TTE
$199B
| – | – |
-4,856
| Closed | -$3K |
|
|
ARCH
93
DELISTED
Arch Resources, Inc.
ARCH
| – | – |
-837,056
| Closed | -$78M |
|
|
CSRA
94
DELISTED
CSRA Inc.
CSRA
| – | – |
-6,459,955
| Closed | -$193M |
|
|
RENX
95
DELISTED
RELX N.V.
RENX
| – | – |
-383
| Closed | -$9K |
|
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Sarah Ketterer's Q1 2018 Portfolio in Review
As of Q1 2018, Sarah Ketterer held 97 positions worth $9.33B, down 1.1% from $9.43B the previous quarter. Its ten largest holdings account for 57% of the portfolio.
Sarah Ketterer deployed $616M of net new capital in Q1 2018, opening 5 new positions and adding to 40 existing holdings. Its largest new stake was Mondelez International: 2,740,323 shares worth $114M.
By sector, the portfolio is most concentrated in Financials at 20% of assets, up from 15% a quarter earlier, followed by Technology and Energy.
On the sell side, the largest reduction was UnitedHealth, an estimated $64.6M trimmed.
- Sarah Ketterer's largest Q1 2018 buy was Mondelez International: 2,740,323 shares worth $114M.
- Sarah Ketterer added most to Manulife Financial in Q1 2018, an estimated $521M increase.
- Sarah Ketterer's biggest Q1 2018 reduction was UnitedHealth, cutting an estimated $64.6M.
- Sarah Ketterer fully exited CSRA Inc. in Q1 2018, selling an estimated $193M.
- Sarah Ketterer's ten largest holdings make up 57% of its $9.33B portfolio in Q1 2018.
- Sarah Ketterer opened 5 new positions and closed 9 in Q1 2018.
- Sarah Ketterer's portfolio value fell 1.1% quarter-over-quarter to $9.33B.
Based on Causeway Capital Management's 13F filing for Q1 2018, filed 15 May 2018.