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 Pacific Kansas City
CP
|
+$515M |
| 2 |
B
Barrick Mining
B
|
+$202M |
| 3 |
Check Point Software Technologies
CHKP
|
+$91.9M |
| 4 |
Merck
MRK
|
+$60.3M |
| 5 |
Biogen
BIIB
|
+$47.5M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
iShares MSCI EAFE ETF
EFA
|
+$98.7M |
| 2 |
SW
Smurfit Westrock
SW
|
+$78.2M |
| 3 |
FISV
Fiserv Inc
FISV
|
+$52.5M |
| 4 |
Bristol-Myers Squibb
BMY
|
+$38.8M |
| 5 |
Pinduoduo
PDD
|
+$37.5M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Industrials | 27.5% |
| 2 | Technology | 19.8% |
| 3 | Financials | 13.03% |
| 4 | Healthcare | 10.68% |
| 5 | Consumer Discretionary | 8.87% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
|
1
Canadian Pacific Kansas City
CP
$85B
| $1.12B | 25.43% |
15,429,804
+6,687,770
| +77% | +$515M |
|
|
2
Check Point Software Technologies
CHKP
$13.3B
| $360M | 8.2% |
1,929,604
+487,823
| +34% | +$91.9M |
|
|
B
3
Barrick Mining
B
$78.3B
| $172M | 3.92% |
+11,112,293
| New | +$202M |
|
|
SW
4
Smurfit Westrock
SW
$25.9B
| $143M | 3.27% |
2,662,964
-1,534,615
| -37% | -$78.2M |
|
5
Alphabet (Google) Class C
GOOG
$4.18T
| $113M | 2.58% |
595,557
+34,841
| +6% | +$6.15M |
|
6
TSMC
TSM
$2.17T
| $104M | 2.38% |
529,064
+213
| +0% | +$41.2K |
|
7
Walt Disney
DIS
$186B
| $93.8M | 2.13% |
841,942
-265,281
| -24% | -$27.9M |
|
8
Citigroup
C
$221B
| $86.9M | 1.98% |
1,234,875
-51,354
| -4% | -$3.46M |
|
9
Zimmer Biomet
ZBH
$19.3B
| $81.3M | 1.85% |
769,932
-24,356
| -3% | -$2.61M |
|
10
Alibaba
BABA
$286B
| $80.6M | 1.84% |
951,168
+63,851
| +7% | +$6.03M |
|
11
Barclays
BCS
$90.2B
| $78.8M | 1.79% |
5,930,467
+484,497
| +9% | +$6.28M |
|
12
Analog Devices
ADI
$182B
| $77.9M | 1.77% |
366,558
+25,842
| +8% | +$5.71M |
|
13
TD Synnex
SNX
$20B
| $70M | 1.59% |
596,782
-36,695
| -6% | -$4.39M |
|
14
Banco Bradesco
BBD
$33.9B
| $69.4M | 1.58% |
36,313,506
-9,662,131
| -21% | -$22.6M |
|
15
AXIS Capital
AXS
$7.2B
| $64.5M | 1.47% |
728,331
+321,608
| +79% | +$27.5M |
|
16
Cognizant
CTSH
$27.9B
| $62.9M | 1.43% |
818,303
-155,979
| -16% | -$12.2M |
|
17
Vanguard FTSE Developed Markets ETF
VEA
$239B
| $60.6M | 1.38% |
1,266,361
+780,830
| +161% | +$39.2M |
|
18
Meta Platforms (Facebook)
META
$1.4T
| $58.3M | 1.33% |
99,561
-5,375
| -5% | -$3.15M |
|
|
19
Merck
MRK
$376B
| $58.1M | 1.32% |
+584,473
| New | +$60.3M |
|
20
AstraZeneca
AZN
$257B
| $54.5M | 1.24% |
415,935
+170,715
| +70% | +$23.9M |
|
21
Boeing
BA
$169B
| $53.6M | 1.22% |
302,750
+265,173
| +706% | +$41.6M |
|
22
Qfin Holdings
QFIN
$1.41B
| $52.9M | 1.2% |
1,377,475
+4,137
| +0.3% | +$143K |
|
23
JD.com
JD
$39.7B
| $52.4M | 1.19% |
1,511,092
+40,001
| +3% | +$1.55M |
|
24
PG&E
PCG
$38.8B
| $50.9M | 1.16% |
2,520,673
-1,291,773
| -34% | -$26.3M |
|
25
Genpact
G
$6.24B
| $48.8M | 1.11% |
1,136,018
-617,154
| -35% | -$26M |
|
Similar funds
Sarah Ketterer's Q4 2024 Portfolio in Review
As of Q4 2024, Sarah Ketterer held 119 positions worth $4.39B, up 7.9% from $4.07B the previous quarter. Its ten largest holdings account for 54% of the portfolio.
Sarah Ketterer deployed $590M of net new capital in Q4 2024, opening 22 new positions and adding to 41 existing holdings. Its largest new stake was Barrick Mining: 11,112,293 shares worth $172M.
By sector, the portfolio is most concentrated in Industrials at 28% of assets, up from 19% a quarter earlier, followed by Technology and Financials.
On the sell side, the largest reduction was iShares MSCI EAFE ETF, an estimated $98.7M trimmed.
- Sarah Ketterer's largest Q4 2024 buy was Barrick Mining: 11,112,293 shares worth $172M.
- Sarah Ketterer added most to Canadian Pacific Kansas City in Q4 2024, an estimated $515M increase.
- Sarah Ketterer's biggest Q4 2024 reduction was iShares MSCI EAFE ETF, cutting an estimated $98.7M.
- Sarah Ketterer fully exited Fiserv Inc in Q4 2024, selling an estimated $52.5M.
- Sarah Ketterer's ten largest holdings make up 54% of its $4.39B portfolio in Q4 2024.
- Sarah Ketterer opened 22 new positions and closed 12 in Q4 2024.
- Sarah Ketterer's portfolio value rose 7.9% quarter-over-quarter to $4.39B.
Based on Causeway Capital Management's 13F filing for Q4 2024, filed 13 Feb 2025.