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 2014Jun 30, 2014	SNY Sanofi	Sanofi	Buy	+61,020+12.0%	$29.68K	567,921
Q2 2014Jun 30, 2014	UNH UnitedHealth Group Incorporated	UnitedHealth Group Incorporated	Buy	+59,200+4.3%	$122.33K	1,444,440
Q2 2014Jun 30, 2014	HSBC HSBC Holdings, plc.	HSBC Holdings, plc.	Buy	+56,395+16.8%	$20.91K	391,613
Q2 2014Jun 30, 2014	AXAHY AXA	AXA	Buy	+43,410+13.0%	$8.65K	376,447
Q2 2014Jun 30, 2014	TSM Taiwan Semiconductor Manufactur	Taiwan Semiconductor Manufactur	Buy	+28,600+2.2%	$28.72K	1,342,833
Q2 2014Jun 30, 2014	RIO Rio Tinto Plc	Rio Tinto Plc	Buy	+22,369+10.9%	$12.99K	226,832
Q2 2014Jun 30, 2014	BTI British American Tobacco Indus	British American Tobacco Indus	Buy	+21,500+10.4%	$26.71K	227,477
Q2 2014Jun 30, 2014	TM Toyota Motor Corporation	Toyota Motor Corporation	Buy	+13,186+10.0%	$17.06K	144,595
Q2 2014Jun 30, 2014	CYD China Yuchai	China Yuchai	Sell	-5,569-3.3%	$3.46K	163,300
Q2 2014Jun 30, 2014	INFY Infosys Limited	Infosys Limited	Sell	-5,695-34.9%	$570.00	10,600
Q2 2014Jun 30, 2014	NVS Novartis AG	Novartis AG	Sell	-6,491-2.0%	$27.89K	320,852
Q2 2014Jun 30, 2014	TTE TotalEnergies SE	TotalEnergies SE	Sell	-9,924-5.1%	$11.93K	185,009
Q2 2014Jun 30, 2014	FMX Fomento Economico Mexicano S.A.	Fomento Economico Mexicano S.A.	Sell	-17,300-88.3%	$215.00	2,300
Q2 2014Jun 30, 2014	SIEGY Siemens AG	Siemens AG	Sell	-62,494-33.2%	$15.54K	125,787
Q2 2014Jun 30, 2014	KT KT Corporation	KT Corporation	Sell	-77,219-50.5%	$1.15K	75,800
Q2 2014Jun 30, 2014	IMO Imperial Oil Limited	Imperial Oil Limited	Sell	-79,528-28.2%	$10.41K	202,696
Q2 2014Jun 30, 2014	BA Boeing Company (The)	Boeing Company (The)	Sell	-90,700-13.8%	$74.23K	565,022
Q2 2014Jun 30, 2014	PBR-A Petroleo Brasileiro S.A.- Petro	Petroleo Brasileiro S.A.- Petro	Sell	-120,800-13.3%	$12.28K	785,300
Q2 2014Jun 30, 2014	SBS Companhia de saneamento Basico	Companhia de saneamento Basico	Sell	-154,800-95.1%	$86.00	8,000
Q2 2014Jun 30, 2014	RDY Dr. Reddy's Laboratories Ltd	Dr. Reddy's Laboratories Ltd	Sell	-230,400-54.2%	$8.41K	194,800
Q2 2014Jun 30, 2014	ABBNY ABB Ltd.	ABB Ltd.	Sell - Position Exit	-534,319-100.0%	$0.00	-
Q2 2014Jun 30, 2014	AAL American Airlines Group, Inc.	American Airlines Group, Inc.	Sell	-1,514,300-55.5%	$54.02K	1,211,799
Q2 2014Jun 30, 2014	WU Western Union Company (The)	Western Union Company (The)	Sell - Position Exit	-2,619,065-100.0%	$0.00	-
Q1 2014Mar 31, 2014	PGR Progressive Corporation (The)	Progressive Corporation (The)	Buy - Position Entry	+2,490,746	$63.48K	2,490,746
Q1 2014Mar 31, 2014	CSX CSX Corporation	CSX Corporation	Buy - Position Entry	+2,356,551	$71.86K	2,356,551
Q1 2014Mar 31, 2014	TSM Taiwan Semiconductor Manufactur	Taiwan Semiconductor Manufactur	Buy	+775,042+143.7%	$24.92K	1,314,233
Q1 2014Mar 31, 2014	C Citigroup, Inc.	Citigroup, Inc.	Buy	+755,404+51.5%	$111.09K	2,223,004
Q1 2014Mar 31, 2014	LYG Lloyds Banking Group Plc	Lloyds Banking Group Plc	Buy	+690,954+24.0%	$18.15K	3,566,494
Q1 2014Mar 31, 2014	FAF First American Corporation (New	First American Corporation (New	Buy	+619,150+37.3%	$63.60K	2,276,882
Q1 2014Mar 31, 2014	MSFT Microsoft Corporation	Microsoft Corporation	Buy	+597,281+28.2%	$117.15K	2,717,633

Page 105 of 111 • 3329 total trades

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