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SK

Sarah Ketterer Causeway Capital Management

AUM $9.24B
1-Year Est. Return 21.27%
 

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.

This Fund
S&P 500
This Quarter Est. Return
+14.36%
1 Year Est. Return
+21.27%
3 Year Est. Return
+72.78%
5 Year Est. Return
+71.25%
10 Year Est. Return
+497.07%
AUM
$5.37B
AUM Growth
-$179M
Cap. Flow
-$801M
Cap. Flow %
-14.91%
Top 10 Hldgs %
55.2%
Holding
90
New
11
Increased
27
Reduced
40
Closed
11

Top Buys

Rank Stock Value
1
GOOG icon
Alphabet (Google) Class C
GOOG
+$105M
2
BKNG icon
Booking.com
BKNG
+$78M
3
LVS icon
Las Vegas Sands
LVS
+$77.2M
4
ALK icon
Alaska Air
ALK
+$58.5M
5
AFL icon
Aflac
AFL
+$58.4M

Top Sells

Rank Stock Value
1
LIN icon
Linde
LIN
+$348M
2
BIDU icon
Baidu
BIDU
+$252M
3
RYAAY icon
Ryanair
RYAAY
+$176M
4
MSFT icon
Microsoft
MSFT
+$94.7M
5
FDX icon
FedEx
FDX
+$85.6M

Sector Composition

Rank Sector Weight
1 Consumer Discretionary 19.23%
2 Technology 18.92%
3 Communication Services 15.98%
4 Industrials 14.88%
5 Financials 10.9%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
BABA icon
1
Alibaba
BABA
$286B
$623M 11.59%
2,118,196
+168,973
+9% +$44.5M
BIDU icon
2
Baidu
BIDU
$31.6B
$513M 9.54%
4,051,280
-2,030,210
-33% -$252M
RYAAY icon
3
Ryanair
RYAAY
$28.9B
$505M 9.41%
15,455,720
-5,657,913
-27% -$176M
TSM icon
4
TSMC
TSM
$2.17T
$434M 8.08%
5,357,918
+173,501
+3% +$13.2M
LIN icon
5
Linde
LIN
$225B
$252M 4.68%
1,056,844
-1,434,079
-58% -$348M
JD icon
6
JD.com
JD
$39.7B
$158M 2.94%
2,036,347
-29,805
-1% -$2.07M
CCEP icon
7
Coca-Cola Europacific Partners
CCEP
$47.7B
$152M 2.84%
3,927,679
-514,461
-12% -$21.1M
ASH icon
8
Ashland
ASH
$3.33B
$114M 2.13%
1,613,300
+27,325
+2% +$2.03M
SNX icon
9
TD Synnex
SNX
$20B
$112M 2.09%
1,600,242
-775,040
-33% -$48.8M
LDOS icon
10
Leidos
LDOS
$17.7B
$102M 1.91%
1,149,467
-32,463
-3% -$2.93M
GOOG icon
11
Alphabet (Google) Class C
GOOG
$4.18T
$102M 1.89%
+1,381,540
New +$105M
RGA icon
12
Reinsurance Group of America
RGA
$15.9B
$96.8M 1.8%
1,017,021
-133,884
-12% -$12M
C icon
13
Citigroup
C
$221B
$93M 1.73%
2,156,121
-108,638
-5% -$5.41M
GE icon
14
GE Aerospace
GE
$361B
$92.4M 1.72%
2,976,998
-15,167
-0.5% -$493K
INFY icon
15
Infosys
INFY
$48.4B
$84.9M 1.58%
6,147,545
+1,261,096
+26% +$15.7M
VALE icon
16
Vale
VALE
$62.1B
$84.4M 1.57%
7,972,786
+1,385,422
+21% +$15.6M
DIS icon
17
Walt Disney
DIS
$186B
$81.8M 1.52%
659,594
+196,846
+43% +$24.6M
BKNG icon
18
Booking.com
BKNG
$158B
$76M 1.41%
+1,110,275
New +$78M
LVS icon
19
Las Vegas Sands
LVS
$30.5B
$75.4M 1.4%
+1,615,027
New +$77.2M
WFC icon
20
Wells Fargo
WFC
$254B
$75.3M 1.4%
3,204,658
+1,371,274
+75% +$33.8M
FDX icon
21
FedEx
FDX
$76.9B
$73.5M 1.37%
292,162
-427,864
-59% -$85.6M
NTES icon
22
NetEase
NTES
$82.1B
$72.9M 1.36%
840,425
+60,925
+8% +$5.73M
ORCL icon
23
Oracle
ORCL
$422B
$69.9M 1.3%
1,170,847
-892,365
-43% -$50.7M
JLL icon
24
Jones Lang LaSalle
JLL
$17.8B
$69.6M 1.3%
727,521
+137,550
+23% +$13.9M
SPR
25
DELISTED
Spirit AeroSystems
SPR
$65.7M 1.22%
3,474,365
+54,355
+2% +$1.15M
1
2 3 4

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Sarah Ketterer's Q3 2020 Portfolio in Review

As of Q3 2020, Sarah Ketterer held 90 positions worth $5.37B, down 3.2% from $5.55B the previous quarter. Its ten largest holdings account for 55% of the portfolio.

Sarah Ketterer withdrew a net $801M in Q3 2020, closing 11 positions and reducing 40 holdings. Its most notable exit was Microsoft, an estimated $94.7M position sold in full.

By sector, the portfolio is most concentrated in Consumer Discretionary at 19% of assets, up from 12% a quarter earlier, followed by Technology and Communication Services.

Against the trend, Sarah Ketterer opened a new position in Alphabet (Google) Class C worth $102M.

  • Sarah Ketterer's largest Q3 2020 buy was Alphabet (Google) Class C: 1,381,540 shares worth $102M.
  • Sarah Ketterer added most to Alibaba in Q3 2020, an estimated $44.5M increase.
  • Sarah Ketterer's biggest Q3 2020 reduction was Linde, cutting an estimated $348M.
  • Sarah Ketterer fully exited Microsoft in Q3 2020, selling an estimated $94.7M.
  • Sarah Ketterer's ten largest holdings make up 55% of its $5.37B portfolio in Q3 2020.
  • Sarah Ketterer opened 11 new positions and closed 11 in Q3 2020.
  • Sarah Ketterer's portfolio value fell 3.2% quarter-over-quarter to $5.37B.

Based on Causeway Capital Management's 13F filing for Q3 2020, filed 13 Nov 2020.