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
Q1 2015Mar 31, 2015	TTE TotalEnergies SE	TotalEnergies SE	Buy	+32,053+10.1%	$17.39K	350,133
Q1 2015Mar 31, 2015	NTES NetEase, Inc.	NetEase, Inc.	Buy	+29,400+35.4%	$11.84K	112,400
Q1 2015Mar 31, 2015	KMTUY Komatsu Ltd.	Komatsu Ltd.	Buy	+10,698+1.9%	$11.00K	561,243
Q1 2015Mar 31, 2015	SAP SAP SE	SAP SE	Sell	-11,614-7.1%	$10.93K	151,467
Q1 2015Mar 31, 2015	IMO Imperial Oil Limited	Imperial Oil Limited	Sell	-18,026-9.3%	$6.97K	174,776
Q1 2015Mar 31, 2015	TM Toyota Motor Corporation	Toyota Motor Corporation	Sell	-19,486-12.2%	$19.63K	140,333
Q1 2015Mar 31, 2015	BTI British American Tobacco Indus	British American Tobacco Indus	Sell	-25,786-10.5%	$22.78K	219,557
Q1 2015Mar 31, 2015	SNY Sanofi	Sanofi	Sell	-29,429-5.8%	$23.60K	477,367
Q1 2015Mar 31, 2015	AXAHY AXA	AXA	Sell	-36,420-8.8%	$9.54K	377,932
Q1 2015Mar 31, 2015	CUK Carnival Plc	Carnival Plc	Sell	-53,753-13.6%	$16.66K	340,058
Q1 2015Mar 31, 2015	RIO Rio Tinto Plc	Rio Tinto Plc	Sell	-56,051-21.2%	$8.61K	208,027
Q1 2015Mar 31, 2015	TV Grupo Televisa S.A.B.	Grupo Televisa S.A.B.	Sell - Position Exit	-58,807-100.0%	$0.00	-
Q1 2015Mar 31, 2015	RDY Dr. Reddy's Laboratories Ltd	Dr. Reddy's Laboratories Ltd	Sell	-67,912-11.3%	$30.55K	535,100
Q1 2015Mar 31, 2015	DIS Walt Disney Company (The)	Walt Disney Company (The)	Sell	-68,656-12.5%	$67.04K	479,074
Q1 2015Mar 31, 2015	SNX TD SYNNEX Corporation	TD SYNNEX Corporation	Sell	-75,204-6.4%	$113.54K	1,106,986
Q1 2015Mar 31, 2015	JNJ Johnson & Johnson	Johnson & Johnson	Sell	-75,539-8.1%	$115.34K	855,044
Q1 2015Mar 31, 2015	LLY Eli Lilly and Company	Eli Lilly and Company	Sell	-89,626-5.4%	$153.61K	1,566,286
Q1 2015Mar 31, 2015	BCS Barclays PLC	Barclays PLC	Sell	-101,037-7.1%	$19.38K	1,329,804
Q1 2015Mar 31, 2015	NVS Novartis AG	Novartis AG	Sell	-113,626-33.8%	$21.96K	222,652
Q1 2015Mar 31, 2015	MAT Mattel, Inc.	Mattel, Inc.	Sell	-146,791-6.0%	$70.84K	2,315,040
Q1 2015Mar 31, 2015	QCOM QUALCOMM Incorporated	QUALCOMM Incorporated	Sell	-168,115-10.0%	$140.28K	1,504,909
Q1 2015Mar 31, 2015	WFC Wells Fargo & Company	Wells Fargo & Company	Sell	-217,771-11.8%	$117.08K	1,620,323
Q1 2015Mar 31, 2015	ORCL Oracle Corporation	Oracle Corporation	Sell	-317,689-9.4%	$174.96K	3,069,061
Q1 2015Mar 31, 2015	LYG Lloyds Banking Group Plc	Lloyds Banking Group Plc	Sell	-346,056-9.5%	$15.31K	3,279,141
Q1 2015Mar 31, 2015	MO Altria Group, Inc.	Altria Group, Inc.	Sell	-354,375-20.1%	$82.01K	1,412,837
Q1 2015Mar 31, 2015	MSFT Microsoft Corporation	Microsoft Corporation	Sell	-376,041-11.6%	$155.48K	2,854,344
Q1 2015Mar 31, 2015	UNH UnitedHealth Group Incorporated	UnitedHealth Group Incorporated	Sell	-454,036-38.6%	$113.62K	722,588
Q1 2015Mar 31, 2015	CCL Carnival Corporation	Carnival Corporation	Sell	-600,701-24.2%	$120.14K	1,884,678
Q1 2015Mar 31, 2015	EPI WisdomTree India Earnings Fund	WisdomTree India Earnings Fund	Sell	-667,700-14.0%	$93.67K	4,108,500
Q1 2015Mar 31, 2015	HSBC HSBC Holdings, plc.	HSBC Holdings, plc.	Sell	-859,083-69.5%	$16.07K	377,310

Page 100 of 111 • 3329 total trades

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