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 |
Carnival Corporation Ltd
CCL
|
+$632M |
| 2 |
Canadian Pacific Kansas City
CP
|
+$135M |
| 3 |
Alibaba
BABA
|
+$46.7M |
| 4 |
Infosys
INFY
|
+$43.4M |
| 5 |
Whirlpool
WHR
|
+$38.6M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Check Point Software Technologies
CHKP
|
+$360M |
| 2 |
Banco Bradesco
BBD
|
+$67.8M |
| 3 |
TD Synnex
SNX
|
+$62.2M |
| 4 |
Boeing
BA
|
+$53.6M |
| 5 |
Vanguard FTSE Developed Markets ETF
VEA
|
+$43.5M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Industrials | 26.24% |
| 2 | Consumer Discretionary | 22.01% |
| 3 | Financials | 11.81% |
| 4 | Healthcare | 10.57% |
| 5 | Technology | 9.98% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
101
Itaú Unibanco
ITUB
$83.2B
| – | – |
-48,971
| Closed | -$214K |
|
102
Coca-Cola Femsa
KOF
$23.9B
| – | – |
-5,350
| Closed | -$417K |
|
103
Noble Corp
NE
$7.14B
| – | – |
-8,462
| Closed | -$266K |
|
104
OraSure Technologies
OSUR
$263M
| – | – |
-10,092
| Closed | -$36.4K |
|
105
Ryanair
RYAAY
$29.4B
| – | – |
-9,093
| Closed | -$396K |
|
106
Sumitomo Mitsui Financial
SMFG
$159B
| – | – |
-13,348
| Closed | -$193K |
|
107
Takeda Pharmaceutical
TAK
$58.2B
| – | – |
-522,030
| Closed | -$6.91M |
|
108
Trip.com Group
TCOM
$28.9B
| – | – |
-3,148
| Closed | -$216K |
|
109
Teck Resources
TECK
$33.8B
| – | – |
-6,480
| Closed | -$263K |
|
110
Tower Semiconductor
TSEM
$24.2B
| – | – |
-58,944
| Closed | -$3.06M |
|
111
Unilever
UL
$140B
| – | – |
-3,170
| Closed | -$202K |
|
112
iShares MSCI World ETF
URTH
$8.21B
| – | – |
-51,466
| Closed | -$8M |
|
113
Willis Towers Watson
WTW
$32.4B
| – | – |
-1,563
| Closed | -$490K |
|
114
XP
XP
$8.87B
| – | – |
-1,728,899
| Closed | -$20.5M |
|
115
Hafnia
HAFN
$4.03B
| – | – |
-575,856
| Closed | -$3.08M |
|
|
CNH
116
CNH Industrial
CNH
$19.1B
| – | – |
-33,849
| Closed | -$384K |
|
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Sarah Ketterer's Q1 2025 Portfolio in Review
As of Q1 2025, Sarah Ketterer held 116 positions worth $4.78B, up 8.9% from $4.39B the previous quarter. Its ten largest holdings account for 57% of the portfolio.
Sarah Ketterer deployed $427M of net new capital in Q1 2025, opening 9 new positions and adding to 42 existing holdings. Its largest new stake was Carnival Corporation Ltd: 26,565,066 shares worth $519M.
By sector, the portfolio is most concentrated in Industrials at 26% of assets, down from 28% a quarter earlier, followed by Consumer Discretionary and Financials.
On the sell side, the largest reduction was Banco Bradesco, an estimated $67.8M trimmed.
- Sarah Ketterer's largest Q1 2025 buy was Carnival Corporation Ltd: 26,565,066 shares worth $519M.
- Sarah Ketterer added most to Canadian Pacific Kansas City in Q1 2025, an estimated $135M increase.
- Sarah Ketterer's biggest Q1 2025 reduction was Banco Bradesco, cutting an estimated $67.8M.
- Sarah Ketterer fully exited Check Point Software Technologies in Q1 2025, selling an estimated $360M.
- Sarah Ketterer's ten largest holdings make up 57% of its $4.78B portfolio in Q1 2025.
- Sarah Ketterer opened 9 new positions and closed 26 in Q1 2025.
- Sarah Ketterer's portfolio value rose 8.9% quarter-over-quarter to $4.78B.
Based on Causeway Capital Management's 13F filing for Q1 2025, filed 14 May 2025.