Sarah Ketterer of Causeway Capital Management: Q1 2026 Portfolio Activity Analysis

As of March 31, 2026, Sarah Ketterer's portfolio at Causeway Capital Management shows significant activity in several holdings, reflecting strategic adjustments during the quarter. The total portfolio value stands at approximately $6.71 billion, with the top ten holdings accounting for the majority of the allocation.

Ketterer's portfolio saw notable increases in several positions during the quarter. Deutsche Bank AG (DB) experienced the most substantial share increase, with a 75.86% jump in holdings, adding 10,767,680 shares. Similarly, Carrier Global Corp (CARR) saw a significant 13.74% increase in shares, while Cognizant Technology Solutions Corp (CTSH) and Carnival Corp (CCL) also added shares, growing by 3.1% and 9.29% respectively.

Conversely, the portfolio also recorded substantial decreases in certain holdings. Canadian Pacific Kansas City Ltd (CP) suffered the largest reduction, with a 30.2% decrease in shares (-3,804,421 shares). Smurfit Westrock PLC (SW) also saw an 18.64% reduction, while Merck & Co Inc (MRK) experienced an 18.23% decline. Alphabet Inc (GOOG) and TSM Corporation (TSM) also saw modest decreases of 8.84% and 0.63% respectively.

Several new positions were established during this period. Alibaba Group Holding Ltd (BABA) and Taiwan Semiconductor Manufacturing Co Ltd (TSM) represent new additions to Ketterer's portfolio, although their allocations are relatively small at 1.65% and 2.11% respectively.

No positions appear to have been fully exited during this quarter, as all holdings listed in the filing continue to be maintained by the portfolio.

For a complete view of Sarah Ketterer's investment profile, visit her profile on Insiderset: https://www.insiderset.com/investor/sarah-ketterer-causeway-capital-management. Detailed information on each stock holding can be found at: https://www.insiderset.com/investors/stocks/.