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 |
Qualcomm
QCOM
|
+$122M |
| 2 |
NOV
NOV
|
+$58M |
| 3 |
WisdomTree India Earnings Fund ETF
EPI
|
+$51.6M |
| 4 |
TSMC
TSM
|
+$39.5M |
| 5 |
OUBS
USB AG (NEW)
OUBS
|
+$24.8M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
First American
FAF
|
+$93.4M |
| 2 |
Boeing
BA
|
+$50.2M |
| 3 |
CSX Corp
CSX
|
+$33.2M |
| 4 |
LO
LORILLARD INC COM STK
LO
|
+$32.1M |
| 5 |
APOL
Apollo Education Group Inc Class A
APOL
|
+$26M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Technology | 24.11% |
| 2 | Financials | 16.09% |
| 3 | Healthcare | 15.32% |
| 4 | Energy | 8.82% |
| 5 | Industrials | 8.81% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
1
Oracle
ORCL
$422B
| $170M | 4.93% |
3,386,750
+312,561
| +10% | +$12.7M |
|
2
Citigroup
C
$221B
| $170M | 4.92% |
2,810,326
+155,822
| +6% | +$8.27M |
|
3
Microsoft
MSFT
$3.59T
| $169M | 4.88% |
3,230,385
+112,652
| +4% | +$5.29M |
|
4
Ryanair
RYAAY
$28.9B
| $157M | 4.53% |
5,361,971
+37,906
| +0.7% | +$948K |
|
|
EMC
5
DELISTED
EMC CORPORATION
EMC
| $154M | 4.45% |
4,603,940
+554,281
| +14% | +$16.1M |
|
|
6
NOV
NOV
$7.28B
| $142M | 4.1% |
1,928,961
+831,886
| +76% | +$58M |
|
|
7
Qualcomm
QCOM
$169B
| $140M | 4.04% |
+1,673,024
| New | +$122M |
|
8
UnitedHealth
UNH
$350B
| $133M | 3.85% |
1,176,624
+99,084
| +9% | +$9.39M |
|
9
Eli Lilly
LLY
$1.12T
| $129M | 3.72% |
1,655,912
+317,520
| +24% | +$21.4M |
|
10
Carnival Corporation Ltd
CCL
$35.2B
| $127M | 3.66% |
2,485,379
+122,979
| +5% | +$5.03M |
|
|
11
CSX Corp
CSX
$95.6B
| $114M | 3.3% |
8,465,574
-2,836,179
| -25% | -$33.2M |
|
12
Chevron
CVX
$403B
| $114M | 3.28% |
901,411
+214,133
| +31% | +$24.3M |
|
13
Wells Fargo
WFC
$254B
| $113M | 3.27% |
1,838,094
+178,049
| +11% | +$9.43M |
|
14
Johnson & Johnson
JNJ
$651B
| $109M | 3.16% |
930,583
+77,433
| +9% | +$8.16M |
|
|
15
WisdomTree India Earnings Fund ETF
EPI
$2.03B
| $105M | 3.04% |
4,776,200
+2,298,300
| +93% | +$51.6M |
|
16
TD Synnex
SNX
$20B
| $104M | 3% |
2,364,380
+252,162
| +12% | +$8.73M |
|
17
Progressive
PGR
$127B
| $99.3M | 2.87% |
3,268,311
+171,865
| +6% | +$4.53M |
|
18
Altria Group
MO
$110B
| $98.8M | 2.86% |
1,767,212
-84,388
| -5% | -$4.11M |
|
19
Mattel
MAT
$4.15B
| $85.6M | 2.47% |
2,461,831
+475,806
| +24% | +$14.6M |
|
|
USG
20
DELISTED
Usg
USG
| $81.6M | 2.36% |
2,595,452
+446,752
| +21% | +$12.2M |
|
|
21
TSMC
TSM
$2.17T
| $77.9M | 2.25% |
3,482,833
+1,814,000
| +109% | +$39.5M |
|
22
SK Telecom
SKM
$15.5B
| $74.6M | 2.16% |
1,677,223
+183,771
| +12% | +$8.54M |
|
|
APOL
23
DELISTED
Apollo Education Group Inc Class A
APOL
| $68.1M | 1.97% |
1,773,861
-881,359
| -33% | -$26M |
|
24
Walt Disney
DIS
$186B
| $58.1M | 1.68% |
547,730
+55,330
| +11% | +$4.99M |
|
|
CHL
25
DELISTED
China Mobile Limited
CHL
| $50M | 1.44% |
849,493
+304,543
| +56% | +$18.2M |
|
Similar funds
Sarah Ketterer's Q4 2014 Portfolio in Review
As of Q4 2014, Sarah Ketterer held 84 positions worth $3.46B, up 20% from $2.88B the previous quarter. Its ten largest holdings account for 43% of the portfolio.
Sarah Ketterer deployed $360M of net new capital in Q4 2014, opening 10 new positions and adding to 47 existing holdings. Its largest new stake was Qualcomm: 1,673,024 shares worth $140M.
By sector, the portfolio is most concentrated in Technology at 24% of assets, up from 19% a quarter earlier, followed by Financials and Healthcare.
On the sell side, the largest reduction was CSX Corp, an estimated $33.2M trimmed.
- Sarah Ketterer's largest Q4 2014 buy was Qualcomm: 1,673,024 shares worth $140M.
- Sarah Ketterer added most to NOV in Q4 2014, an estimated $58M increase.
- Sarah Ketterer's biggest Q4 2014 reduction was CSX Corp, cutting an estimated $33.2M.
- Sarah Ketterer fully exited First American in Q4 2014, selling an estimated $93.4M.
- Sarah Ketterer's ten largest holdings make up 43% of its $3.46B portfolio in Q4 2014.
- Sarah Ketterer opened 10 new positions and closed 5 in Q4 2014.
- Sarah Ketterer's portfolio value rose 20% quarter-over-quarter to $3.46B.
Based on Causeway Capital Management's 13F filing for Q4 2014, filed 17 Feb 2015.