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 |
Canadian Imperial Bank of Commerce
CM
|
+$305M |
| 2 |
Dominion Energy
D
|
+$145M |
| 3 |
Zimmer Biomet
ZBH
|
+$133M |
| 4 |
Vale
VALE
|
+$122M |
| 5 |
Baidu
BIDU
|
+$81.4M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Canadian Pacific Kansas City
CP
|
+$701M |
| 2 |
PDCE
PDC Energy, Inc.
PDCE
|
+$232M |
| 3 |
PAY
Verifone Systems Inc
PAY
|
+$187M |
| 4 |
Ovintiv
OVV
|
+$130M |
| 5 |
VALE.P
Vale S A
VALE.P
|
+$108M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Financials | 19.97% |
| 2 | Communication Services | 14.48% |
| 3 | Technology | 13.62% |
| 4 | Consumer Discretionary | 13.06% |
| 5 | Energy | 12.33% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
1
Manulife Financial
MFC
$70.5B
| $960M | 9.69% |
53,406,100
+2,729,880
| +5% | +$51.4M |
|
|
2
Baidu
BIDU
$31.6B
| $950M | 9.59% |
3,908,293
+326,938
| +9% | +$81.4M |
|
|
3
Canadian Pacific Kansas City
CP
$85B
| $868M | 8.77% |
6,903,455
-19,054,175
| -73% | -$701M |
|
|
4
Ovintiv
OVV
$18.5B
| $721M | 7.28% |
11,049,999
-2,067,850
| -16% | -$130M |
|
5
Gildan
GIL
$10.4B
| $444M | 4.48% |
15,753,377
+1,158,056
| +8% | +$33.6M |
|
6
Alibaba
BABA
$286B
| $333M | 3.36% |
1,795,291
-38,638
| -2% | -$7.36M |
|
7
Citigroup
C
$221B
| $331M | 3.35% |
4,952,604
+784,338
| +19% | +$54M |
|
8
Advance Auto Parts
AAP
$2.57B
| $305M | 3.08% |
2,249,845
+130,460
| +6% | +$15.9M |
|
9
Sabre
SABR
$848M
| $302M | 3.05% |
12,252,445
+1,114,966
| +10% | +$25.9M |
|
10
Oracle
ORCL
$422B
| $280M | 2.83% |
6,356,106
+1,174,493
| +23% | +$54.1M |
|
11
FirstEnergy
FE
$26.6B
| $276M | 2.79% |
7,678,568
+1,409,324
| +22% | +$48.3M |
|
12
Halliburton
HAL
$29.4B
| $265M | 2.68% |
5,879,258
-745,752
| -11% | -$37.1M |
|
13
Microsoft
MSFT
$3.59T
| $242M | 2.45% |
2,457,672
-802,841
| -25% | -$77.8M |
|
14
Flowserve
FLS
$10.1B
| $241M | 2.43% |
5,961,357
+296,214
| +5% | +$12.9M |
|
15
Eli Lilly
LLY
$1.12T
| $234M | 2.36% |
2,737,558
-968,402
| -26% | -$79.5M |
|
16
TSMC
TSM
$2.17T
| $219M | 2.21% |
5,996,146
-787,181
| -12% | -$31.1M |
|
17
Bank of America
BAC
$431B
| $202M | 2.04% |
7,168,703
+649,647
| +10% | +$19.4M |
|
18
Qualcomm
QCOM
$169B
| $184M | 1.86% |
3,275,291
+126,851
| +4% | +$7.08M |
|
19
Signet Jewelers
SIG
$3.16B
| $173M | 1.75% |
3,105,084
+143,437
| +5% | +$6.34M |
|
20
Mondelez International
MDLZ
$82.3B
| $165M | 1.66% |
4,018,155
+1,277,832
| +47% | +$51.4M |
|
|
VIAB
21
DELISTED
Viacom Inc. Class B
VIAB
| $164M | 1.65% |
5,427,041
+864,252
| +19% | +$25.4M |
|
22
SM Energy
SM
$8.85B
| $161M | 1.62% |
6,258,040
-2,624,291
| -30% | -$61.3M |
|
|
23
Dominion Energy
D
$58.6B
| $152M | 1.53% |
+2,222,510
| New | +$145M |
|
|
24
Zimmer Biomet
ZBH
$19.3B
| $132M | 1.34% |
+1,223,499
| New | +$133M |
|
|
25
Canadian Imperial Bank of Commerce
CM
$106B
| $120M | 1.21% |
9,487,280
+6,924,148
| +270% | +$305M |
|
Similar funds
Sarah Ketterer's Q2 2018 Portfolio in Review
As of Q2 2018, Sarah Ketterer held 96 positions worth $9.9B, up 6.1% from $9.33B the previous quarter. Its ten largest holdings account for 56% of the portfolio.
Sarah Ketterer withdrew a net $343M in Q2 2018, closing 3 positions and reducing 25 holdings. Its most notable exit was Vale S A, an estimated $108M position sold in full.
By sector, the portfolio is most concentrated in Financials at 20% of assets, up from 20% a quarter earlier, followed by Communication Services and Technology.
Against the trend, Sarah Ketterer opened a new position in Dominion Energy worth $152M.
- Sarah Ketterer's largest Q2 2018 buy was Dominion Energy: 2,222,510 shares worth $152M.
- Sarah Ketterer added most to Canadian Imperial Bank of Commerce in Q2 2018, an estimated $305M increase.
- Sarah Ketterer's biggest Q2 2018 reduction was Canadian Pacific Kansas City, cutting an estimated $701M.
- Sarah Ketterer fully exited Vale S A in Q2 2018, selling an estimated $108M.
- Sarah Ketterer's ten largest holdings make up 56% of its $9.9B portfolio in Q2 2018.
- Sarah Ketterer opened 8 new positions and closed 3 in Q2 2018.
- Sarah Ketterer's portfolio value rose 6.1% quarter-over-quarter to $9.9B.
Based on Causeway Capital Management's 13F filing for Q2 2018, filed 14 Aug 2018.