What Sarah Ketterer Bought in Q4 2025
Causeway Capital Management · Quarterly 13F recap as filed with the SEC.
Period: 2025-12-31 · Filed · Historical
$7.27B
Total Value
108
Holdings
14
New Buys
42
Reduced
In Q4 2025, Sarah Ketterer reported 108 long equity positions worth $7.27B in their Causeway Capital Management 13F filing, including 14 new positions (largest: ALASKA AIR GROUP INC at $72.2M) and 48 increased positions.
| Rank | Ticker | Company | Shares | Value | % Portfolio | Change |
|---|---|---|---|---|---|---|
| 1 | CCL | CARNIVAL CORP | 33944782 | $1.04B | 14.26% | +6.4% |
| 2 | CP | CANADIAN PACIFIC KANSAS CITY LTD | 12596802 | $928.6M | 12.78% | -6.8% |
| 3 | SW | SMURFIT WESTROCK PLC | 19132879 | $739.9M | 10.18% | 154.3% |
| 4 | DB | DEUTSCHE BANK AG | 14194354 | $551.7M | 7.59% | -19.4% |
| 5 | B | BARRICK MINING CORP | 6093395 | $264.5M | 3.64% | +-61.2% |
| 6 | BABA | ALIBABA GROUP HOLDING LTD | 1203049 | $176.3M | 2.43% | -2.3% |
| 7 | TSM | TAIWAN SEMICONDUCTOR MANUFACTURING CO LTD | 511720 | $155.5M | 2.14% | +0.8% |
| 8 | CTSH | COGNIZANT TECHNOLOGY SOLUTIONS CORP | 1552361 | $128.8M | 1.77% | +15.0% |
| 9 | GOOG | ALPHABET INC | 370001 | $116.1M | 1.60% | -41.5% |
| 10 | MRK | MERCK & CO INC | 1044617 | $110.0M | 1.51% | -7.9% |
| 11 | CARR | CARRIER GLOBAL CORP | 1848827 | $97.7M | 1.34% | +26.1% |
| 12 | G | GENPACT LTD | 2084209 | $97.5M | 1.34% | +11.0% |
| 13 | BCLYF | BARCLAYS PLC | 3750607 | $95.5M | 1.31% | -13.8% |
| 14 | AZNN | ASTRAZENECA PLC | 1010898 | $92.9M | 1.28% | -5.3% |
| 15 | BIIB | BIOGEN INC | 521101 | $91.7M | 1.26% | -8.2% |
| 16 | C | CITIGROUP INC | 697445 | $81.4M | 1.12% | -30.1% |
| 17 | EG | EVEREST GROUP LTD | 238558 | $81.0M | 1.11% | +35.8% |
| 18 | AXS | AXIS CAPITAL HOLDINGS LTD | 721221 | $77.2M | 1.06% | -13.8% |
| 19 | META | META PLATFORMS INC | 110385 | $72.9M | 1.00% | 27.0% |
| 20 | ALK | ALASKA AIR GROUP INC | 1434517 | $72.2M | 0.99% | NEW |
| 21 | ADI | ANALOG DEVICES INC | 263030 | $71.3M | 0.98% | -13.0% |
| 22 | GFIOF | GOLD FIELDS LTD | 1621076 | $70.8M | 0.97% | +5.1% |
| 23 | BAP | CREDICORP LTD | 242024 | $69.5M | 0.96% | +12.2% |
| 24 | GPK | GRAPHIC PACKAGING HOLDING CO | 4528554 | $68.2M | 0.94% | +74.1% |
| 25 | ZBH | ZIMMER BIOMET HOLDINGS INC | 728498 | $65.5M | 0.90% | +25.2% |
| 26 | LYV | LIVE NATION ENTERTAINMENT INC | 447113 | $63.7M | 0.88% | +92.4% |
| 27 | DIS | WALT DISNEY CO/THE | 546064 | $62.1M | 0.85% | -8.4% |
| 28 | SAP | SAP SE | 250748 | $60.9M | 0.84% | +29.4% |
| 29 | PHG | KONINKLIJKE PHILIPS NV | 2198531 | $59.5M | 0.82% | +12.3% |
| 30 | CFG | CITIZENS FINANCIAL GROUP INC | 1014186 | $59.2M | 0.82% | -7.0% |
| 31 | BP | BP PLC | 1640680 | $57.0M | 0.78% | +3.6% |
| 32 | WHR | WHIRLPOOL CORP | 761228 | $54.9M | 0.76% | +23.4% |
| 33 | NGG | NATIONAL GRID PLC | 709485 | $54.9M | 0.76% | +5.7% |
| 34 | JOYY | JOYY INC | 812601 | $52.6M | 0.72% | +2.9% |
| 35 | PFE | PFIZER INC | 2091719 | $52.1M | 0.72% | +0.9% |
| 36 | SNY | SANOFI SA | 1063958 | $51.6M | 0.71% | 8.6% |
| 37 | APTV | APTIV PLC | 668620 | $50.9M | 0.70% | -7.5% |
| 38 | NVO | NOVO NORDISK A/S | 993850 | $50.6M | 0.70% | +42.8% |
| 39 | RLXXF | RELX PLC | 1189379 | $48.1M | 0.66% | 64.5% |
| 40 | IR | INGERSOLL RAND INC | 596771 | $47.3M | 0.65% | +7.3% |
| 41 | PUK | PRUDENTIAL PLC | 1508912 | $47.0M | 0.65% | +2.3% |
| 42 | BUDFF | ANHEUSER-BUSCH INBEV SA/NV | 701343 | $44.9M | 0.62% | +15.0% |
| 43 | INFY | INFOSYS LTD | 2482318 | $44.2M | 0.61% | 774.3% |
| 44 | PDD | PDD HOLDINGS INC | 371241 | $42.1M | 0.58% | +19.9% |
| 45 | DEO | DIAGEO PLC | 485288 | $41.9M | 0.58% | +3.9% |
| 46 | PAGS | PAGSEGURO DIGITAL LTD | 4045457 | $39.0M | 0.54% | +3.9% |
| 47 | AU | ANGLOGOLD ASHANTI PLC | 434260 | $37.6M | 0.52% | +118.8% |
| 48 | BAH | BOOZ ALLEN HAMILTON HOLDING CORP | 396332 | $33.4M | 0.46% | NEW |
| 49 | BA-PA | BOEING CO/THE | 151928 | $33.0M | 0.45% | NEW |
| 50 | SMIN | ISHARES MSCI INDIA SMALL-CAP ETF | 458977 | $32.1M | 0.44% | +24.9% |
| 51 | SHG | SHINHAN FINANCIAL GROUP CO LTD | 579796 | $31.1M | 0.43% | +2.4% |
| 52 | WEIBF | WEIBO CORP | 2992234 | $30.6M | 0.42% | +1.4% |
| 53 | TME | TENCENT MUSIC ENTERTAINMENT GROUP | 1689576 | $29.6M | 0.41% | -26.1% |
| 54 | RBSPF | NATWEST GROUP PLC | 1587264 | $27.8M | 0.38% | +10.5% |
| 55 | ING | ING GROEP NV | 982006 | $27.5M | 0.38% | +-38.6% |
| 56 | BTI | BRITISH AMERICAN TOBACCO PLC | 483138 | $27.4M | 0.38% | +5.3% |
| 57 | ALLY | ALLY FINANCIAL INC | 600850 | $27.2M | 0.37% | -5.6% |
| 58 | GGB | GERDAU SA | 7259433 | $26.8M | 0.37% | +1.0% |
| 59 | VEA | Vanguard FTSE Developed Markets ETF | 421392 | $26.3M | 0.36% | -17.1% |
| 60 | ZIM | ZIM INTEGRATED SHIPPING SERVICES LTD | 1213006 | $25.8M | 0.35% | +12.0% |
| 61 | QFIN | QFIN HOLDINGS INC | 1306636 | $25.2M | 0.35% | +1.2% |
| 62 | SMFG | SUMITOMO MITSUI FINANCIAL GROUP INC | 1177274 | $22.8M | 0.31% | 47.0% |
| 63 | CLS | CELESTICA INC | 73302 | $21.7M | 0.30% | +-27.2% |
| 64 | INDA | ISHARES MSCI INDIA ETF | 386205 | $20.9M | 0.29% | +-63.4% |
| 65 | JLL | JONES LANG LASALLE INC | 59456 | $20.0M | 0.28% | -37.2% |
| 66 | SNN | SMITH & NEPHEW PLC | 603812 | $19.8M | 0.27% | +5.5% |
| 67 | VIPS | VIPSHOP HOLDINGS LTD | 1089598 | $19.3M | 0.27% | +1.2% |
| 68 | BXP | BXP INC | 272049 | $18.4M | 0.25% | -6.7% |
| 69 | CGAU | CENTERRA GOLD INC | 1249789 | $18.0M | 0.25% | 44.8% |
| 70 | MT | ARCELORMITTAL SA | 384849 | $17.5M | 0.24% | -34.4% |
| 71 | HDB | HDFC BANK LTD | 422279 | $15.4M | 0.21% | +9.6% |
| 72 | FINV | FINVOLUTION GROUP | 2761927 | $14.4M | 0.20% | -2.6% |
| 73 | IBN | ICICI Bank | 477060 | $14.2M | 0.20% | +7.3% |
| 74 | EWT | ISHARES MSCI TAIWAN ETF | 190341 | $12.1M | 0.17% | +1614.8% |
| 75 | MLCMF | MILLICOM INTERNATIONAL CELLULAR SA | 215950 | $12.0M | 0.16% | 468.3% |
| 76 | VALE | VALE SA | 904000 | $11.8M | 0.16% | NEW |
| 77 | EWY | ISHARES MSCI SOUTH KOREA ETF | 110800 | $10.8M | 0.15% | -50.1% |
| 78 | VSS | VANGUARD FTSE ALL WORLD EX-US SMALL-CAP ETF | 72930 | $10.5M | 0.14% | -19.2% |
| 79 | FSM | FORTUNA MINING CORP | 863628 | $8.5M | 0.12% | +645.4% |
| 80 | EFA | iShares MSCI EAFE ETF | 83004 | $8.0M | 0.11% | +-98.3% |
| 81 | MOMO | HELLO GROUP INC | 889397 | $5.8M | 0.08% | +-68.2% |
| 82 | MMYT | MAKEMYTRIP LTD | 68159 | $5.6M | 0.08% | -17.2% |
| 83 | VWO | Vanguard FTSE Emerging Markets ETF | 60561 | $3.3M | 0.04% | NEW |
| 84 | URTH | ISHARES MSCI WORLD ETF | 10631 | $2.0M | 0.03% | 72.8% |
| 85 | GSK | GSK plc | 33897 | $1.7M | 0.02% | +-97.1% |
| 86 | EZA | ISHARES MSCI SOUTH AFRICA ETF | 22500 | $1.5M | 0.02% | NEW |
| 87 | ACWI | ISHARES MSCI ACWI ETF | 10935 | $1.5M | 0.02% | 16.0% |
| 88 | GRTUF | GRANITE REAL ESTATE INVESTMENT TRUST | 23700 | $1.4M | 0.02% | — |
| 89 | WIT | WIPRO LTD | 473301 | $1.3M | 0.02% | -0.5% |
| 90 | EFXT | ENERFLEX LTD | 73432 | $1.1M | 0.02% | NEW |
| 91 | VEU | VANGUARD FTSE ALL-WORLD EX-US ETF | 14484 | $1.1M | 0.01% | 49.9% |
| 92 | INMD | INMODE LTD | 71829 | $1.1M | 0.01% | NEW |
| 93 | ASHR | XTRACKERS HARVEST CSI 300 CHINA A-SHARES ETF | 28800 | $946K | 0.01% | NEW |
| 94 | ITRN | ITURAN LOCATION AND CONTROL LTD | 20439 | $879K | 0.01% | — |
| 95 | NVDA | NVIDIA CORP | 3758 | $701K | 0.01% | -1.2% |
| 96 | MSFT | MICROSOFT CORP | 965 | $467K | 0.01% | +2.7% |
| 97 | EWZ | ISHARES MSCI BRAZIL ETF | 13800 | $438K | 0.01% | NEW |
| 98 | BTG | B2GOLD CORP | 94491 | $426K | 0.01% | — |
| 99 | JBS | JBS NV | 20994 | $303K | 0.00% | -20.2% |
| 100 | AVGO | BROADCOM INC | 827 | $286K | 0.00% | NEW |
| 101 | NVS | NOVARTIS AG | 1935 | $267K | 0.00% | -5.8% |
| 102 | AAPL | APPLE INC | 898 | $244K | 0.00% | -3.1% |
| 103 | PDS | PRECISION DRILLING CORP | 3291 | $236K | 0.00% | NEW |
| 104 | FIX | COMFORT SYSTEMS USA INC | 243 | $227K | 0.00% | NEW |
| 105 | RNR-PG | RENAISSANCERE HOLDINGS LTD | 712 | $200K | 0.00% | NEW |
| 106 | KEP | KOREA ELECTRIC POWER CORP | 11202 | $185K | 0.00% | -12.2% |
| 107 | PBYI | PUMA BIOTECHNOLOGY INC | 13310 | $79K | 0.00% | -5.6% |
| 108 | INN | SUMMIT HOTEL PROPERTIES INC | 14838 | $72K | 0.00% | — |