Sarah Ketterer - Causeway Capital Management
As of Q2 2026, Sarah Ketterer reported 122 long-equity positions worth $9.24B in aggregate.
Copy-investor backtest
- Latest quarter
- +5.46%
- 1-year
- +10.72%
- 3-year
- +53.20%
- 5-year
- +39.34%
- 3-year vs S&P 500
- -20.81%
- 5-year vs S&P 500
- -34.56%
- 5-year top 5
- +2.10%
Return from mechanically copying the disclosed 13F equity portfolio after each filing and rebalancing at the next. The vs S&P 500 figures subtract SPY over that manager's own rebalance dates, so both sides cover the same days; both are price return, excluding dividends. Method & limitations.
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All activity
This tab shows every position the manager opened, added to, reduced, or exited compared with the prior quarter, so you can see exactly what changed. The quarter shown is Q2 2026.
| Ticker | Security | Activity | % portfolio | Shares | Value | Reported price | Q range |
|---|---|---|---|---|---|---|---|
| CCL | CARNIVAL CORP LTD | New | 12.74% | 41,190,606 | $1.18B | $28.57 | $23.45 - $31.59(63%)$26.58 -> $28.57 |
| AZN | ASTRAZENECA PLC | Add +26.1% | 18.97% | 9,357,390 | $1.75B | $187.18 | $174.28 - $207.30(39%)$200.73 -> $189.59 |
| CP | CANADIAN PACIFIC KANSAS CITY LTD | Reduce -23.7% | 6.30% | 6,711,483 | $581.66M | $86.67 | $76.99 - $91.49(67%)$78.02 -> $86.64 |
| DB | DEUTSCHE BANK AG | Add +17.6% | 10.77% | 29,358,318 | $994.16M | $33.86 | $28.96 - $36.16(68%)$30.48 -> $33.77 |
| NTES | NETEASE INC | New | 0.79% | 572,412 | $73.35M | $128.14 | $106.06 - $129.95(92%)$112.66 -> $128.14 |
| BSX | BOSTON SCIENTIFIC CORP | New | 0.33% | 720,339 | $30.74M | $42.68 | $42.25 - $66.88(2%)$62.00 -> $42.68 |
| JD | JD.COM INC | New | 0.33% | 1,199,207 | $30.56M | $25.48 | $24.55 - $34.30(10%)$28.87 -> $25.48 |
| HTHT | H WORLD GROUP LTD | New | 0.26% | 570,437 | $23.8M | $41.72 | $40.47 - $56.46(8%)$51.60 -> $41.72 |
| OCAND | OCEANAGOLD CORP | New | 0.25% | 911,012 | $22.83M | — | - |
| ARCO | ARCOS DORADOS HOLDINGS INC | New | 0.17% | 1,961,513 | $15.81M | $8.06 | $7.98 - $9.75(5%)$8.35 -> $8.03 |
| TD | TORONTO-DOMINION BANK/THE | New | 0.13% | 97,238 | $11.82M | $121.54 | $93.33 - $121.52(100%)$94.70 -> $121.43 |
| CM | CANADIAN IMPERIAL BANK OF COMMERCE | New | 0.10% | 83,789 | $9.65M | $115.12 | $94.30 - $117.05(91%)$96.23 -> $115.03 |
| SU | SUNCOR ENERGY INC | New | 0.08% | 138,526 | $7.45M | $53.78 | $53.35 - $70.29(3%)$64.94 -> $53.68 |
| EEM | ISHARES MSCI EMERGING MARKETS ETF | New | 0.06% | 74,974 | $5.13M | $68.41 | $55.43 - $71.57(80%)$57.23 -> $68.44 |
| STN | STANTEC INC | New | 0.04% | 56,200 | $3.87M | $68.95 | - |
| GLBE | GLOBAL-E ONLINE LTD | New | 0.04% | 102,195 | $3.55M | $34.73 | $27.63 - $37.24(74%)$27.89 -> $34.73 |
| MGA | MAGNA INTERNATIONAL INC | New | 0.03% | 45,900 | $3.02M | $65.73 | $53.46 - $69.19(78%)$56.52 -> $65.66 |
| IAG | IAMGOLD CORP | New | 0.03% | 172,916 | $2.74M | $15.87 | - |
| OTEX | OPEN TEXT CORP | New | 0.01% | 36,500 | $807.57K | $22.13 | $19.78 - $25.64(40%)$22.54 -> $22.15 |
| CNQ | CANADIAN NATURAL RESOURCES LTD | New | 0.01% | 18,400 | $727.83K | $39.56 | $39.02 - $49.75(5%)$46.56 -> $39.51 |
| INTR | INTER & CO INC | New | 0.01% | 100,618 | $546.36K | $5.43 | - |
| ORLA | ORLA MINING LTD | New | 0.01% | 52,100 | $509.34K | $9.78 | $9.21 - $19.00(6%)$16.71 -> $9.79 |
| LRCX | LAM RESEARCH CORP | New | 0.00% | 816 | $353.6K | $433.33 | $208.80 - $438.50(98%)$222.01 -> $433.33 |
| TRMD | TORM PLC | New | 0.00% | 11,244 | $289.96K | $25.79 | $25.52 - $35.33(3%)$28.01 -> $26.06 |
| SLM | SLM CORP | New | 0.00% | 8,774 | $227.6K | $25.94 | $20.72 - $26.14(96%)$21.74 -> $25.94 |
| VICI | VICI PROPERTIES INC | New | 0.00% | 7,985 | $212K | $26.55 | $26.07 - $29.51(14%)$27.46 -> $26.55 |
| APTV | APTIV PLC | Sold | — | 0 | $0 | — | - |
| CCL | CARNIVAL CORP | Sold | — | 0 | $0 | — | - |
| EFXT | ENERFLEX LTD | Sold | — | 0 | $0 | — | - |
| JBS | JBS NV | Sold | — | 0 | $0 | — | - |
| PDD | PDD HOLDINGS INC | Sold | — | 0 | $0 | — | - |
| QFIN | QFIN HOLDINGS INC | Sold | — | 0 | $0 | — | - |
| TME | TENCENT MUSIC ENTERTAINMENT GROUP | Sold | — | 0 | $0 | — | - |
| WHR | WHIRLPOOL CORP | Sold | — | 0 | $0 | — | - |
| YY | JOYY INC | Reduce -85.4% | 0.08% | 109,297 | $7.21M | — | - |
| CTSH | COGNIZANT TECHNOLOGY SOLUTIONS CORP | Reduce -67.1% | 0.21% | 494,846 | $19.17M | $38.73 | $37.08 - $63.04(6%)$61.25 -> $38.73 |
| ALK | ALASKA AIR GROUP INC | Add +27.2% | 1.80% | 3,183,163 | $166.16M | $52.20 | $35.11 - $54.32(89%)$37.65 -> $52.23 |
| BP | BP PLC | Reduce -95.4% | 0.02% | 46,059 | $1.7M | $36.95 | $36.91 - $47.99(0%)$46.17 -> $36.95 |
| G | GENPACT LTD | Reduce -63.5% | 0.21% | 710,380 | $19.54M | $27.50 | $26.85 - $38.42(6%)$37.23 -> $27.51 |
| IR | INGERSOLL RAND INC | Add +65.1% | 0.92% | 1,033,693 | $84.75M | $81.99 | $68.07 - $89.10(66%)$80.00 -> $81.99 |
| LYV | LIVE NATION ENTERTAINMENT INC | Add +34.2% | 1.40% | 706,301 | $129.33M | $183.11 | $149.26 - $184.86(95%)$152.63 -> $183.11 |
| META | META PLATFORMS INC | Add +39.1% | 1.23% | 201,459 | $113.48M | $563.29 | $540.21 - $691.52(15%)$579.23 -> $563.29 |
| SAP | SAP SE | Add +38.1% | 1.05% | 629,801 | $97.06M | $154.11 | $148.06 - $196.39(13%)$171.36 -> $154.11 |
| C | CITIGROUP INC | Reduce -27.7% | 0.70% | 458,858 | $64.22M | $139.96 | $111.75 - $147.96(78%)$115.30 -> $139.94 |
| SW | SMURFIT WESTROCK PLC | Reduce -3.4% | 7.53% | 15,039,041 | $695.71M | $46.26 | $35.53 - $47.86(87%)$40.13 -> $46.26 |
| NVO | NOVO NORDISK A/S | Add +42.9% | 0.87% | 1,677,615 | $80.42M | $47.94 | $35.63 - $48.62(95%)$36.48 -> $47.94 |
| ADI | ANALOG DEVICES INC | Reduce -29.6% | 0.61% | 142,050 | $56.42M | $397.17 | $309.79 - $444.75(65%)$320.58 -> $397.87 |
| PBR-A | PETROLEO BRASILEIRO SA - PETROBRAS | Add +107.0% | 0.49% | 3,096,624 | $45.33M | $14.64 | $14.51 - $20.05(2%)$18.28 -> $14.64 |
| VEA | VANGUARD FTSE DEVELOPED MARKETS ETF | Reduce -42.0% | 0.33% | 427,314 | $30.45M | $71.25 | $63.45 - $73.23(80%)$65.14 -> $71.25 |
| JLL | JONES LANG LASALLE INC | Add +33.3% | 0.83% | 248,252 | $76.95M | $309.95 | $276.03 - $359.28(41%)$305.75 -> $309.95 |
| DIS | WALT DISNEY CO/THE | Reduce -35.6% | 0.38% | 360,600 | $34.71M | $96.25 | $95.09 - $110.48(8%)$96.56 -> $96.22 |
| BUD | ANHEUSER-BUSCH INBEV SA/NV | Reduce -40.1% | 0.31% | 347,657 | $28.65M | $82.40 | $69.50 - $85.56(80%)$70.77 -> $82.39 |
| DEO | DIAGEO PLC | Add +34.9% | 0.78% | 899,015 | $72.26M | $80.38 | $72.98 - $87.48(51%)$74.63 -> $80.37 |
| VIST | VISTA ENERGY SAB DE CV | Add +126.9% | 0.35% | 501,275 | $31.98M | $63.80 | $61.51 - $81.44(11%)$69.12 -> $63.80 |
| SNN | SMITH & NEPHEW PLC | Add +64.2% | 0.49% | 1,565,167 | $45.09M | $28.81 | $28.55 - $34.72(4%)$32.09 -> $28.81 |
| RELX | RELX PLC | Reduce -23.6% | 0.60% | 1,762,329 | $55.81M | $31.67 | $30.29 - $37.78(18%)$33.23 -> $31.67 |
| AU | ANGLOGOLD ASHANTI PLC | Reduce -23.4% | 0.60% | 688,027 | $55.74M | $81.01 | $77.13 - $113.30(11%)$103.52 -> $80.49 |
| PHG | KONINKLIJKE PHILIPS NV | Add +24.7% | 0.90% | 3,061,962 | $83.25M | $27.19 | $25.10 - $29.95(43%)$27.29 -> $27.19 |
| SHG | SHINHAN FINANCIAL GROUP CO LTD | Reduce -97.4% | 0.00% | 6,594 | $417.06K | $63.25 | $59.78 - $71.45(30%)$62.50 -> $63.25 |
| MT | ARCELORMITTAL SA | Reduce -91.7% | 0.01% | 22,155 | $1.33M | $60.22 | $51.42 - $72.50(42%)$54.03 -> $60.22 |
| INFY | INFOSYS LTD | Reduce -72.2% | 0.06% | 526,963 | $5.53M | $10.49 | $10.34 - $14.71(3%)$13.30 -> $10.49 |
| TIGO | MILLICOM INTERNATIONAL CELLULAR SA | Reduce -68.4% | 0.06% | 65,932 | $5.98M | $90.76 | $70.20 - $94.73(84%)$76.89 -> $90.76 |
| MRK | MERCK & CO INC | Add +11.8% | 1.33% | 954,932 | $122.71M | $128.50 | $107.90 - $130.29(92%)$120.84 -> $128.50 |
| TXN | TEXAS INSTRUMENTS INC | Reduce -19.3% | 0.54% | 166,496 | $49.63M | $298.07 | $191.00 - $334.03(75%)$196.30 -> $298.07 |
| TSM | TAIWAN SEMICONDUCTOR MANUFACTURING CO LTD | Add +4.6% | 2.75% | 532,052 | $254.09M | $477.57 | $326.80 - $479.00(99%)$341.49 -> $477.57 |
| SNY | SANOFI SA | Reduce -24.5% | 0.37% | 804,056 | $34.3M | $42.66 | $40.89 - $48.60(23%)$47.73 -> $42.66 |
| PUK | PRUDENTIAL PLC | Add +27.9% | 0.49% | 1,689,218 | $45.29M | $26.81 | $24.61 - $32.50(28%)$29.28 -> $26.81 |
| NWG | NATWEST GROUP PLC | Add +16.7% | 0.67% | 3,487,290 | $61.48M | $17.63 | $14.73 - $17.74(96%)$15.55 -> $17.63 |
| INDA | ISHARES MSCI INDIA ETF | Add +36.9% | 0.34% | 628,500 | $31.04M | $49.39 | $46.31 - $51.65(58%)$46.71 -> $49.39 |
| PAGS | PAGSEGURO DIGITAL LTD | Reduce -22.6% | 0.31% | 3,130,268 | $28.33M | $9.05 | $8.49 - $11.82(17%)$10.53 -> $9.05 |
| BWLP | BW LPG LTD | Add +2889.0% | 0.09% | 457,050 | $7.97M | $17.44 | $16.98 - $22.92(8%)$17.06 -> $17.46 |
| GOOG | ALPHABET INC | Reduce -6.3% | 1.21% | 316,217 | $111.73M | $353.33 | $287.57 - $404.47(56%)$294.90 -> $353.33 |
| BABA | ALIBABA GROUP HOLDING LTD | Reduce -6.9% | 1.03% | 995,040 | $95.5M | $95.98 | $91.99 - $146.87(7%)$123.73 -> $96.00 |
| FSM | FORTUNA MINING CORP | Add +66.8% | 0.19% | 2,086,645 | $17.63M | $8.45 | $8.09 - $11.25(11%)$10.43 -> $8.44 |
| UNH | UNITEDHEALTH GROUP INC | Add +21.7% | 0.39% | 87,447 | $36.35M | $415.63 | $270.76 - $427.81(92%)$273.98 -> $415.63 |
| TAL | TAL EDUCATION GROUP | Add +18.6% | 0.43% | 4,125,430 | $39.48M | $9.57 | $8.88 - $12.84(17%)$11.23 -> $9.57 |
| CARR | CARRIER GLOBAL CORP | Add +3.6% | 1.73% | 2,178,506 | $159.79M | $73.35 | $54.65 - $76.76(85%)$56.90 -> $73.31 |
| ZIM | ZIM INTEGRATED SHIPPING SERVICES LTD | Reduce -21.9% | 0.20% | 694,474 | $18.06M | $26.00 | $22.93 - $29.30(48%)$25.95 -> $26.00 |
| SMIN | ISHARES MSCI INDIA SMALL-CAP ETF | Add +15.1% | 0.42% | 542,849 | $38.4M | $70.73 | $59.79 - $70.85(99%)$60.71 -> $70.73 |
| ING | ING GROEP NV | Add +9.9% | 0.57% | 1,690,687 | $53.05M | $31.38 | $25.85 - $32.22(87%)$26.81 -> $31.38 |
| AXS | AXIS CAPITAL HOLDINGS LTD | Add +5.4% | 1.00% | 859,727 | $92.37M | $107.44 | $93.98 - $109.05(89%)$99.89 -> $107.55 |
| KSA | ISHARES MSCI SAUDI ARABIA ETF | Add +234.8% | 0.07% | 177,079 | $6.61M | $37.31 | $37.23 - $40.83(2%)$39.57 -> $37.31 |
| NGG | NATIONAL GRID PLC | Add +9.6% | 0.53% | 590,240 | $48.91M | $82.87 | $79.47 - $91.17(29%)$86.84 -> $82.87 |
| HAFN | HAFNIA LTD | Add +1182.8% | 0.05% | 697,424 | $4.56M | $6.54 | $6.50 - $9.54(1%)$7.64 -> $6.64 |
| BAP | CREDICORP LTD | Add +4.2% | 1.08% | 255,436 | $99.51M | $389.58 | $299.00 - $398.51(91%)$341.26 -> $389.37 |
| VSS | VANGUARD FTSE ALL WORLD EX-US SMALL-CAP ETF | Reduce -21.9% | 0.14% | 80,907 | $12.48M | $154.29 | $144.19 - $162.91(54%)$148.01 -> $154.29 |
| SMFG | SUMITOMO MITSUI FINANCIAL GROUP INC | Add +9.9% | 0.36% | 1,392,610 | $32.84M | $23.58 | $19.86 - $25.35(68%)$20.70 -> $23.58 |
| BTI | BRITISH AMERICAN TOBACCO PLC | Add +9.4% | 0.37% | 547,925 | $33.84M | $61.76 | $54.83 - $67.30(56%)$57.89 -> $61.76 |
| GFI | GOLD FIELDS LTD | Add +4.8% | 0.62% | 1,713,233 | $57.55M | $33.59 | $31.36 - $52.97(10%)$48.13 -> $33.60 |
| BCS | BARCLAYS PLC | Reduce -2.4% | 1.16% | 3,975,718 | $106.79M | $26.86 | $21.09 - $27.59(89%)$21.83 -> $26.86 |
| WB | WEIBO CORP | Reduce -13.1% | 0.18% | 2,317,577 | $16.83M | $7.26 | $7.10 - $9.34(7%)$8.77 -> $7.26 |
| CFG | CITIZENS FINANCIAL GROUP INC | Add +2.7% | 0.82% | 1,077,093 | $75.47M | $70.07 | $59.00 - $71.20(91%)$60.57 -> $70.09 |
| CLS | CELESTICA INC | Reduce -21.0% | 0.08% | 19,598 | $7.14M | $364.57 | $271.50 - $474.02(46%)$288.73 -> $364.83 |
| EFA | ISHARES MSCI EAFE ETF | Reduce -45.0% | 0.02% | 20,761 | $2.16M | $103.88 | $96.36 - $105.52(82%)$98.61 -> $103.83 |
| VWO | VANGUARD FTSE EMERGING MARKETS ETF | Add +376.1% | 0.02% | 35,556 | $2.12M | $59.69 | $53.05 - $61.52(78%)$54.21 -> $59.69 |
| ZBH | ZIMMER BIOMET HOLDINGS INC | Reduce -2.4% | 0.74% | 788,810 | $67.91M | $86.09 | $79.12 - $97.81(37%)$91.03 -> $86.09 |
| GGB | GERDAU SA | Add +5.7% | 0.32% | 7,229,538 | $29.21M | $4.04 | $3.70 - $4.98(27%)$3.79 -> $4.03 |
| ACWI | ISHARES MSCI ACWI ETF | Reduce -50.1% | 0.01% | 7,691 | $1.21M | $156.97 | $137.07 - $160.03(87%)$139.67 -> $157.00 |
| EG | EVEREST GROUP LTD | Add +1.1% | 0.98% | 252,702 | $90.27M | $357.23 | $316.80 - $361.27(91%)$323.87 -> $357.02 |
| EWT | ISHARES MSCI TAIWAN ETF | Add +21.4% | 0.05% | 45,108 | $4.9M | $108.61 | $69.05 - $112.78(90%)$71.72 -> $108.59 |
| INMD | INMODE LTD | Reduce -74.7% | 0.00% | 18,180 | $265.79K | $14.62 | $13.21 - $15.19(71%)$13.70 -> $14.62 |
| VEU | VANGUARD FTSE ALL-WORLD EX-US ETF | Add +148.6% | 0.01% | 15,389 | $1.29M | $83.75 | $74.25 - $85.74(83%)$76.09 -> $83.75 |
| CGAU | CENTERRA GOLD INC | Add +3.2% | 0.22% | 1,285,398 | $20.38M | $15.85 | $14.69 - $20.24(21%)$18.41 -> $15.88 |
| FINV | FINVOLUTION GROUP | Reduce -4.8% | 0.12% | 2,285,880 | $10.95M | $4.79 | $4.35 - $5.87(29%)$4.89 -> $4.80 |
| BIIB | BIOGEN INC | Reduce -0.9% | 0.65% | 278,283 | $60.13M | $216.06 | $168.64 - $219.72(93%)$183.78 -> $216.06 |
| BAH | BOOZ ALLEN HAMILTON HOLDING CORP | Reduce -0.9% | 0.56% | 849,966 | $51.57M | $60.67 | $59.50 - $85.63(4%)$80.37 -> $60.63 |
| CIB | GRUPO CIBEST SA | Add +3.2% | 0.12% | 136,620 | $10.85M | $79.43 | $62.54 - $87.68(67%)$72.89 -> $79.40 |
| DTE | DTE ENERGY CO | Reduce -0.5% | 0.53% | 320,526 | $48.84M | $152.37 | $139.75 - $155.06(82%)$147.12 -> $152.41 |
| GSK | GSK PLC | Reduce -35.5% | 0.00% | 7,163 | $375.47K | $52.42 | $48.57 - $59.57(35%)$55.99 -> $52.42 |
| BA | BOEING CO/THE | Reduce -0.3% | 0.73% | 313,048 | $67.77M | $216.47 | $202.30 - $244.07(34%)$207.32 -> $216.13 |
| BXP | BXP INC | Reduce -0.6% | 0.27% | 378,480 | $25.1M | $66.31 | $50.07 - $67.47(93%)$51.02 -> $66.32 |
| HDB | HDFC BANK LTD | Reduce -0.8% | 0.11% | 395,855 | $10.22M | $25.83 | $23.08 - $28.00(56%)$24.90 -> $25.83 |
| IBN | ICICI BANK LTD | Reduce -0.7% | 0.14% | 447,935 | $13M | $29.03 | $25.17 - $29.59(87%)$25.72 -> $29.03 |
| MSFT | MICROSOFT CORP | Reduce -22.3% | 0.00% | 600 | $223.81K | $373.02 | $349.20 - $466.32(20%)$369.37 -> $373.02 |
| PFE | PFIZER INC | Add +0.1% | 0.50% | 1,916,801 | $46.16M | $24.08 | $23.62 - $28.75(9%)$28.55 -> $24.08 |
| FIX | COMFORT SYSTEMS USA INC | Reduce -12.0% | 0.00% | 162 | $321.08K | $1981.95 | $1368.00 - $2073.99(87%)$1428.52 -> $1981.33 |
| B | BARRICK MINING CORP | Reduce -9.9% | 0.00% | 6,966 | $255.76K | $36.72 | $35.77 - $47.59(8%)$42.20 -> $36.69 |
| ALL | ALLSTATE CORP/THE | Add +10.2% | 0.00% | 1,107 | $263.4K | $237.94 | $202.21 - $242.67(88%)$204.10 -> $238.30 |
| MMYT | MAKEMYTRIP LTD | Reduce -0.6% | 0.04% | 64,145 | $3.42M | $53.29 | $36.50 - $55.15(90%)$37.88 -> $53.29 |
| INN | SUMMIT HOTEL PROPERTIES INC | Add +15.0% | 0.00% | 17,063 | $119.61K | $7.01 | $4.19 - $7.14(95%)$4.25 -> $7.01 |
| AVGO | BROADCOM INC | Reduce -4.9% | 0.00% | 802 | $302.96K | $377.75 | $301.75 - $495.00(39%)$313.49 -> $377.50 |
| WIT | WIPRO LTD | Add +1.3% | 0.01% | 448,957 | $1.01M | $2.25 | $1.80 - $2.53(62%)$2.11 -> $2.25 |
| AAPL | APPLE INC | Add +2.6% | 0.00% | 947 | $274.02K | $289.36 | $245.70 - $316.94(61%)$255.63 -> $289.05 |
| NVDA | NVIDIA CORP | Reduce -0.6% | 0.01% | 3,567 | $713.72K | $200.09 | $171.37 - $236.54(44%)$175.75 -> $200.09 |
| NVS | NOVARTIS AG | Add +0.9% | 0.00% | 1,501 | $235.17K | $156.67 | $142.25 - $157.88(92%)$155.08 -> $156.72 |