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 |
Ovintiv
OVV
|
+$290M |
| 2 |
Alaska Air
ALK
|
+$205M |
| 3 |
Manulife Financial
MFC
|
+$163M |
| 4 |
Baidu
BIDU
|
+$158M |
| 5 |
Marathon Petroleum
MPC
|
+$155M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Canadian Pacific Kansas City
CP
|
+$412M |
| 2 |
Dominion Energy
D
|
+$183M |
| 3 |
Advance Auto Parts
AAP
|
+$141M |
| 4 |
Eli Lilly
LLY
|
+$124M |
| 5 |
FirstEnergy
FE
|
+$106M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Financials | 24.17% |
| 2 | Technology | 18.24% |
| 3 | Communication Services | 15.24% |
| 4 | Energy | 13.15% |
| 5 | Consumer Discretionary | 11.46% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
|
VRN
76
DELISTED
Veren
VRN
| $333K | ﹤0.01% |
+110,286
| New | +$470K |
|
77
Vanguard FTSE All-World ex-US Small-Cap Index Fund
VSS
$12B
| $284K | ﹤0.01% |
3,000
-5,400
| -64% | -$548K |
|
78
Sabesp
SBS
$16.2B
| $248K | ﹤0.01% |
158,738
-87,888
| -36% | -$126K |
|
79
TAL Education Group
TAL
$6.28B
| $248K | ﹤0.01% |
9,300
| – | – |
|
80
NetEase
NTES
$82.1B
| $235K | ﹤0.01% |
5,000
| – | – |
|
|
PTR
81
DELISTED
PETROCHINA COMPANY LIMITED ADS (REP 100 H SHARES)
PTR
| $210K | ﹤0.01% |
3,407
| – | – |
|
|
JKS
82
JinkoSolar
JKS
$834M
| $113K | ﹤0.01% |
11,400
| – | – |
|
83
Diageo
DEO
$52.6B
| $18K | ﹤0.01% |
124
-119,081
| -100% | -$16.7M |
|
|
84
Eli Lilly
LLY
$1.12T
| $9K | ﹤0.01% |
81
-1,107,491
| -100% | -$124M |
|
85
ArcelorMittal
MT
$54.4B
| $9K | ﹤0.01% |
424
-30
| -7% | -$742 |
|
|
86
Dominion Energy
D
$58.6B
| $3K | ﹤0.01% |
44
-2,502,283
| -100% | -$183M |
|
|
CEO
87
DELISTED
CNOOC Limited
CEO
| $2K | ﹤0.01% |
13
-19
| -59% | -$3.23K |
|
88
Huazhu Hotels Group
HTHT
$15.1B
| $1K | ﹤0.01% |
32
-1,600
| -98% | -$46.1K |
|
89
iShares MSCI Emerging Markets ETF
EEM
$30.7B
| – | – |
-11,420
| Closed | -$490K |
|
90
SAP
SAP
$252B
| – | – |
-177,134
| Closed | -$21.8M |
|
91
SM Energy
SM
$8.85B
| – | – |
-280
| Closed | -$9K |
|
92
UBS Group
UBS
$163B
| – | – |
-360
| Closed | -$6K |
|
|
SODA
93
DELISTED
SodaStream International Ltd
SODA
| – | – |
-2,807
| Closed | -$402K |
|
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Sarah Ketterer's Q4 2018 Portfolio in Review
As of Q4 2018, Sarah Ketterer held 95 positions worth $8.39B, down 16% from $9.95B the previous quarter. Its ten largest holdings account for 52% of the portfolio.
Sarah Ketterer deployed $676M of net new capital in Q4 2018, opening 7 new positions and adding to 35 existing holdings. Its largest new stake was Alaska Air: 3,165,808 shares worth $193M.
By sector, the portfolio is most concentrated in Financials at 24% of assets, up from 21% a quarter earlier, followed by Technology and Communication Services.
On the sell side, the largest reduction was Canadian Pacific Kansas City, an estimated $412M trimmed.
- Sarah Ketterer's largest Q4 2018 buy was Alaska Air: 3,165,808 shares worth $193M.
- Sarah Ketterer added most to Ovintiv in Q4 2018, an estimated $290M increase.
- Sarah Ketterer's biggest Q4 2018 reduction was Canadian Pacific Kansas City, cutting an estimated $412M.
- Sarah Ketterer fully exited SAP in Q4 2018, selling an estimated $21.8M.
- Sarah Ketterer's ten largest holdings make up 52% of its $8.39B portfolio in Q4 2018.
- Sarah Ketterer opened 7 new positions and closed 5 in Q4 2018.
- Sarah Ketterer's portfolio value fell 16% quarter-over-quarter to $8.39B.
Based on Causeway Capital Management's 13F filing for Q4 2018, filed 14 Feb 2019.