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 |
iShares MSCI EAFE ETF
EFA
|
+$265M |
| 2 |
iShares MSCI EAFE Value ETF
EFV
|
+$179M |
| 3 |
Ryanair
RYAAY
|
+$62.5M |
| 4 |
Avantor
AVTR
|
+$25.2M |
| 5 |
KraneShares CSI China Internet ETF
KWEB
|
+$22.3M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Waste Management
WM
|
+$53.5M |
| 2 |
Essent Group
ESNT
|
+$51.1M |
| 3 |
Canadian National Railway
CNI
|
+$48.9M |
| 4 |
FISV
Fiserv Inc
FISV
|
+$42.2M |
| 5 |
GE Aerospace
GE
|
+$35.7M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Industrials | 29.68% |
| 2 | Technology | 19.72% |
| 3 | Consumer Discretionary | 9.6% |
| 4 | Financials | 7.09% |
| 5 | Communication Services | 5.75% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
|
1
Canadian National Railway
CNI
$78.5B
| $503M | 14.1% |
4,659,452
-410,583
| -8% | -$48.9M |
|
|
2
Ryanair
RYAAY
$28.9B
| $446M | 12.49% |
19,083,930
+2,218,067
| +13% | +$62.5M |
|
|
3
iShares MSCI EAFE ETF
EFA
$80B
| $239M | 6.7% |
4,269,452
+4,248,458
| +20,237% | +$265M |
|
4
TSMC
TSM
$2.17T
| $231M | 6.47% |
3,369,625
-43,764
| -1% | -$3.62M |
|
|
5
iShares MSCI EAFE Value ETF
EFV
$31.4B
| $162M | 4.53% |
+4,197,000
| New | +$179M |
|
6
Genpact
G
$6.24B
| $93.6M | 2.62% |
2,137,481
-519,427
| -20% | -$23.9M |
|
7
Las Vegas Sands
LVS
$30.5B
| $84.5M | 2.37% |
2,251,659
-495,402
| -18% | -$18.5M |
|
8
Alibaba
BABA
$286B
| $80.8M | 2.26% |
1,010,193
+175,324
| +21% | +$16.7M |
|
|
FISV
9
Fiserv Inc
FISV
$28B
| $78M | 2.18% |
833,222
-413,668
| -33% | -$42.2M |
|
10
Concentrix
CNXC
$1.55B
| $71.5M | 2% |
640,383
-27,095
| -4% | -$3.47M |
|
11
Booking.com
BKNG
$158B
| $64.7M | 1.81% |
985,100
-102,425
| -9% | -$7.7M |
|
12
Alphabet (Google) Class C
GOOG
$4.18T
| $63.3M | 1.77% |
657,847
-84,353
| -11% | -$9.42M |
|
|
BERY
13
DELISTED
Berry Global Group, Inc.
BERY
| $61.4M | 1.72% |
1,435,987
-433,688
| -23% | -$21.8M |
|
14
ICICI Bank
IBN
$107B
| $60.8M | 1.7% |
2,901,338
-285,904
| -9% | -$6.04M |
|
15
Walt Disney
DIS
$186B
| $59.9M | 1.68% |
634,822
-89,718
| -12% | -$9.6M |
|
16
Leidos
LDOS
$17.7B
| $55.9M | 1.57% |
639,574
-161,035
| -20% | -$15.7M |
|
17
Carrier Global
CARR
$49.8B
| $52.7M | 1.48% |
1,483,328
-667,564
| -31% | -$26.3M |
|
18
Mondelez International
MDLZ
$82.3B
| $50M | 1.4% |
912,462
-135,963
| -13% | -$8.45M |
|
19
iShares MSCI Saudi Arabia ETF
KSA
$632M
| $48.8M | 1.37% |
1,189,133
+159,891
| +16% | +$6.89M |
|
20
Petrobras Class A
PBR.A
$111B
| $48.5M | 1.36% |
4,374,581
-681,198
| -13% | -$8.19M |
|
21
Zimmer Biomet
ZBH
$19.3B
| $48M | 1.35% |
459,209
-62,564
| -12% | -$6.87M |
|
22
Meta Platforms (Facebook)
META
$1.4T
| $44.3M | 1.24% |
326,509
+4,221
| +1% | +$684K |
|
23
Wells Fargo
WFC
$254B
| $43.6M | 1.22% |
1,084,255
-152,024
| -12% | -$6.53M |
|
|
DQ
24
Daqo New Energy
DQ
$919M
| $43.5M | 1.22% |
820,257
+8,767
| +1% | +$559K |
|
25
Citigroup
C
$221B
| $42.4M | 1.19% |
1,018,635
-8,404
| -0.8% | -$415K |
|
Similar funds
Sarah Ketterer's Q3 2022 Portfolio in Review
As of Q3 2022, Sarah Ketterer held 94 positions worth $3.57B, down 11% from $4.01B the previous quarter. Its ten largest holdings account for 56% of the portfolio.
Sarah Ketterer deployed $161M of net new capital in Q3 2022, opening 14 new positions and adding to 19 existing holdings. Its largest new stake was iShares MSCI EAFE Value ETF: 4,197,000 shares worth $162M.
By sector, the portfolio is most concentrated in Industrials at 30% of assets, down from 31% a quarter earlier, followed by Technology and Consumer Discretionary.
On the sell side, the largest reduction was Canadian National Railway, an estimated $48.9M trimmed.
- Sarah Ketterer's largest Q3 2022 buy was iShares MSCI EAFE Value ETF: 4,197,000 shares worth $162M.
- Sarah Ketterer added most to iShares MSCI EAFE ETF in Q3 2022, an estimated $265M increase.
- Sarah Ketterer's biggest Q3 2022 reduction was Canadian National Railway, cutting an estimated $48.9M.
- Sarah Ketterer fully exited Waste Management in Q3 2022, selling an estimated $53.5M.
- Sarah Ketterer's ten largest holdings make up 56% of its $3.57B portfolio in Q3 2022.
- Sarah Ketterer opened 14 new positions and closed 13 in Q3 2022.
- Sarah Ketterer's portfolio value fell 11% quarter-over-quarter to $3.57B.
Based on Causeway Capital Management's 13F filing for Q3 2022, filed 14 Nov 2022.