Sarah Ketterer's Portfolio Highlights SW's 154% Quarterly Increase Amid Pulp Market Strength
Causeway Capital Management's Sarah Ketterer saw significant shifts in her portfolio during Q4 2025, with substantial increases in Smurfit Westrock and decreases in Deutsche Bank and Barrick Mining.
Sarah Ketterer's portfolio at Causeway Capital Management showed notable quarterly movements as of December 31, 2025. Among the top holdings, Smurfit Westrock PLC (SW) experienced the most dramatic change, with a 154.33% increase in shares and a corresponding rise in its portfolio allocation to 10.18%. This significant stake growth occurred alongside favorable pulp pricing conditions.
In contrast, Deutsche Bank AG (DB) saw a substantial reduction, with a 19.44% decrease in shares and a portfolio percentage allocation dropping to 7.59%. Similarly, Barrick Mining Corp (B) experienced a significant decline, with a 61.17% reduction in shares and its allocation falling to 3.64%.
Other notable changes included Carnival Corp (CCL) and Canadian Pacific Kansas City Ltd (CP) seeing moderate increases of 6.37% and 6.85% respectively, while stocks like Cognizant Technology Solutions Corp (CTSH) and Alphabet Inc (GOOG) showed modest gains. Conversely, stocks like Alibaba Group Holding Ltd (BABA), Merck & Co Inc (MRK), and GOOG saw declines, though their positions remained relatively small in the overall portfolio.