Sarah Ketterer (Trades, Portfolio) recently submitted the 13F filing for the fourth quarter of 2024, providing insights into her investment moves during this period. Sarah Ketterer (Trades, Portfolio) is the chief executive officer at Causeway, a fundamental portfolio manager, and is responsible for investment research across all sectors. She co-founded the firm in June 2001 and is a member of the operating committee. From 1996 to 2001, Ketterer worked for the Hotchkis & Wiley division of Merrill Lynch Investment Managers (HW-MLIM). At HW-MLIM, she was a managing director and co-head of the firms HW-MLIM International and Global Value team. From 1990 to 1996, Ketterer was a portfolio manager at Hotchkis & Wiley, where she founded the International Equity product. Ketterer earned a BA in economics and political science from Stanford University and an MBA from the Tuck School, Dartmouth College. She is currently a member of the Stanford University Board of Trustees, a board member of the Los Angeles World Affairs Council and Town Hall, chair of the investment committee for the Music Center Foundation, and serves on the Girls Who Invest Presidents Council. Sarah Ketterer (Trades, Portfolio) focuses on global equities: International, global, and emerging market. She and her team begin with a screen of both large and mid-sized companies in the developed international markets. Their screens are applied to approximately 3,400 companies and use quantitative and value-oriented methods to find prospective stocks that meet their criteria for further analysis. Each stock also receives a "risk score" based on the additional volatility/risk it adds to the portfolio. Their final portfolio is built from those stocks with the highest expected risk-adjusted return. It will typically have 60-80 stocks that have a lower price/earnings ratio and higher dividend yield than the market.
The most significant addition was Barrick Gold Corp (NYSE:GOLD), with 11,112,293 shares, accounting for 3.92% of the portfolio and a total value of $172.23 million.
The second largest addition to the portfolio was Merck & Co Inc (NYSE:MRK), consisting of 584,473 shares, representing approximately 1.32% of the portfolio, with a total value of $58.14 million.
The third largest addition was Biogen Inc (NASDAQ:BIIB), with 281,702 shares, accounting for 0.98% of the portfolio and a total value of $43.08 million.
The most notable increase was Canadian Pacific Kansas City Ltd (NYSE:CP), with an additional 6,687,770 shares, bringing the total to 15,429,804 shares. This adjustment represents a significant 76.5% increase in share count, an 11.02% impact on the current portfolio, with a total value of $1,116,631,630.
The second largest increase was Check Point Software Technologies Ltd (NASDAQ:CHKP), with an additional 487,823 shares, bringing the total to 1,929,604. This adjustment represents a significant 33.83% increase in share count, with a total value of $360,257,070.
Summary of Sold Out
Sarah Ketterer (Trades, Portfolio) completely exited 12 of the holdings in the fourth quarter of 2024, as detailed below:
Reduced iShares MSCI EAFE ETF (EFA) by 1,246,009 shares, resulting in a -95.92% decrease in shares and a -2.56% impact on the portfolio. The stock traded at an average price of $79.14 during the quarter and has returned 7.31% over the past 3 months and 8.16% year-to-date.
Reduced Smurfit WestRock PLC (NYSE:SW) by 1,534,615 shares, resulting in a -36.56% reduction in shares and a -1.86% impact on the portfolio. The stock traded at an average price of $50.97 during the quarter and has returned 8.12% over the past 3 months and 1.75% year-to-date.
Portfolio Overview
At the fourth quarter of 2024, Sarah Ketterer (Trades, Portfolio)'s portfolio included 107 stocks, with the top holdings including 25.43% in Canadian Pacific Kansas City Ltd (NYSE:CP), 8.2% in Check Point Software Technologies Ltd (NASDAQ:CHKP), 3.92% in Barrick Gold Corp (NYSE:GOLD), 3.27% in Smurfit WestRock PLC (NYSE:SW), and 2.58% in Alphabet Inc (NASDAQ:GOOG).
The holdings are mainly concentrated in 11 of all the 11 industries: Industrials, Technology, Financial Services, Healthcare, Consumer Cyclical, Communication Services, Basic Materials, Consumer Defensive, Utilities, Energy, Real Estate.
This article, generated by GuruFocus, is designed to provide general insights and is not tailored financial advice. Our commentary is rooted in historical data and analyst projections, utilizing an impartial methodology, and is not intended to serve as specific investment guidance. It does not formulate a recommendation to purchase or divest any stock and does not consider individual investment objectives or financial circumstances. Our objective is to deliver long-term, fundamental data-driven analysis. Be aware that our analysis might not incorporate the most recent, price-sensitive company announcements or qualitative information. GuruFocus holds no position in the stocks mentioned herein.
