Sarah Ketterer – Causeway Capital Management Portfolio Activity & Recent Trades (Jun 30, 2025)

As of Jun 30, 2025, the Causeway Capital Management portfolio activity showed several notable changes in holdings, according to the latest SEC 13F filing reported on Aug 13, 2025. The activity included new positions, additions to existing holdings, reductions, and complete exits, providing a clear view of how the portfolio evolved during the quarter.

During Q2 2025, the filing reported:

New Buys – Barrick Gold (B), PagSeguro Digital (G68707101), XP Inc (XP), Gold Fields Limited (GFI), Korea Electric Power Corporatio (KEP), and 13 more

Increases – Deutsche Bank (DB), Smurfit WestRock (SW), Carnival Corporation (CCL), Tencent Music Entertainment Gro (TME), JOYY Inc. (YY), and 38 more

Reductions – Apple Inc. (AAPL), NVIDIA Corporation (NVDA), GSK plc (GSK), Vanguard FTSE All-Wld ex-US SmC (VSS), Taiwan Semiconductor Manufactur (TSM), and 28 more

Complete Exits – Shell PLC (SHEL), JinkoSolar Holding Company Limi (JKS), PDD Holdings Inc. (PDD), Quest Diagnostics Incorporated (DGX), Veren Inc. (VRN), and 3 more

These updates highlight how the portfolio adjusted across different sectors and market conditions, offering insights into allocation shifts and investment trends.

Causeway Capital Management Activity

Date	Symbol	Name	Type	Quantity	Value	Remaining
Q2 2024Jun 30, 2024	TSN Tyson Foods, Inc.	Tyson Foods, Inc.	Sell - Position Exit	-927,806-100.0%	$0.00	-
Q2 2024Jun 30, 2024	GGB Gerdau S.A.	Gerdau S.A.	Sell	-1,240,630-31.7%	$8.81M	2,670,178
Q2 2024Jun 30, 2024	PBR-A Petroleo Brasileiro S.A.- Petro	Petroleo Brasileiro S.A.- Petro	Sell	-2,747,305-41.4%	$53.07M	3,891,121
Q2 2024Jun 30, 2024	SABR Sabre Corporation	Sabre Corporation	Sell - Position Exit	-3,057,805-100.0%	$0.00	-
Q1 2024Mar 31, 2024	IQ iQIYI, Inc.	iQIYI, Inc.	Buy	+3,497,437+127.0%	$26.44M	6,251,065
Q1 2024Mar 31, 2024	PBR-A Petroleo Brasileiro S.A.- Petro	Petroleo Brasileiro S.A.- Petro	Buy	+2,579,828+63.6%	$98.92M	6,638,426
Q1 2024Mar 31, 2024	WB Weibo Corporation	Weibo Corporation	Buy - Position Entry	+1,807,944	$16.43M	1,807,944
Q1 2024Mar 31, 2024	TME Tencent Music Entertainment Gro	Tencent Music Entertainment Gro	Buy - Position Entry	+1,639,662	$18.35M	1,639,662
Q1 2024Mar 31, 2024	CP Canadian Pacific Kansas City Li	Canadian Pacific Kansas City Li	Buy	+1,196,061+21.5%	$596.13M	6,757,838
Q1 2024Mar 31, 2024	PCG Pacific Gas & Electric Co.	Pacific Gas & Electric Co.	Buy	+1,111,858+35.0%	$71.93M	4,289,563
Q1 2024Mar 31, 2024	TRMB Trimble Inc.	Trimble Inc.	Buy - Position Entry	+824,877	$53.12M	824,877
Q1 2024Mar 31, 2024	MOMO Hello Group Inc.	Hello Group Inc.	Buy	+625,419+60.3%	$10.32M	1,661,767
Q1 2024Mar 31, 2024	ORCL Oracle Corporation	Oracle Corporation	Buy - Position Entry	+429,021	$53.92M	429,021
Q1 2024Mar 31, 2024	PUK Prudential Public Limited Compa	Prudential Public Limited Compa	Buy	+366,842+24.8%	$35.62M	1,848,602
Q1 2024Mar 31, 2024	PHG Koninklijke Philips N.V. NY Reg	Koninklijke Philips N.V. NY Reg	Buy	+276,270+19.8%	$33.38M	1,668,887
Q1 2024Mar 31, 2024	ING ING Group, N.V.	ING Group, N.V.	Buy	+253,868+15.4%	$31.31M	1,898,686
Q1 2024Mar 31, 2024	WIT Wipro Limited	Wipro Limited	Buy - Position Entry	+243,245	$1.40M	243,245
Q1 2024Mar 31, 2024	VIPS Vipshop Holdings Limited	Vipshop Holdings Limited	Buy	+226,044+7.6%	$53.17M	3,212,654
Q1 2024Mar 31, 2024	DQ DAQO New Energy Corp.	DAQO New Energy Corp.	Buy	+213,974+45.8%	$19.18M	681,168
Q1 2024Mar 31, 2024	NWG NatWest Group plc	NatWest Group plc	Buy	+198,488+12.0%	$12.55M	1,846,245
Q1 2024Mar 31, 2024	BTI British American Tobacco Indus	British American Tobacco Indus	Buy	+139,892+25.1%	$21.23M	696,191
Q1 2024Mar 31, 2024	M9T951109 ZIM	ZIM	Buy - Position Entry	+131,833	$1.33M	131,833
Q1 2024Mar 31, 2024	GOOG Alphabet Inc.	Alphabet Inc.	Buy	+114,819+17.3%	$118.33M	776,763
Q1 2024Mar 31, 2024	TAK Takeda Pharmaceutical Company L	Takeda Pharmaceutical Company L	Buy	+99,263+7.4%	$20.07M	1,444,908
Q1 2024Mar 31, 2024	ADI Analog Devices, Inc.	Analog Devices, Inc.	Buy	+92,287+35.1%	$70.33M	355,396
Q1 2024Mar 31, 2024	STX Seagate Technology	Seagate Technology	Buy	+81,126+17.7%	$50.20M	539,196
Q1 2024Mar 31, 2024	ASHR Xtrackers Harvest CSI 300 China	Xtrackers Harvest CSI 300 China	Buy	+78,557+18.5%	$12.09M	502,131
Q1 2024Mar 31, 2024	BP BP p.l.c.	BP p.l.c.	Buy	+75,978+7.1%	$43.21M	1,146,697
Q1 2024Mar 31, 2024	QFIN Qifu Technology, Inc	Qifu Technology, Inc	Buy	+75,906+6.7%	$22.28M	1,208,823
Q1 2024Mar 31, 2024	NTES NetEase, Inc.	NetEase, Inc.	Buy	+64,271+33.8%	$26.31M	254,244

Page 18 of 111 • 3329 total trades

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