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 2014Mar 31, 2014	KEP Korea Electric Power Corporatio	Korea Electric Power Corporatio	Buy	+522,855+57.5%	$16.51K	1,431,534
Q1 2014Mar 31, 2014	SMFG Sumitomo Mitsui Financial Group	Sumitomo Mitsui Financial Group	Buy	+416,759+46.6%	$11.34K	1,310,804
Q1 2014Mar 31, 2014	ORCL Oracle Corporation	Oracle Corporation	Buy	+378,389+17.4%	$109.80K	2,558,189
Q1 2014Mar 31, 2014	AAL American Airlines Group, Inc.	American Airlines Group, Inc.	Buy	+374,783+15.9%	$104.85K	2,726,099
Q1 2014Mar 31, 2014	AXAHY AXA	AXA	Buy - Position Entry	+333,037	$8.66K	333,037
Q1 2014Mar 31, 2014	MO Altria Group, Inc.	Altria Group, Inc.	Buy	+274,800+21.8%	$60.64K	1,537,500
Q1 2014Mar 31, 2014	BCS Barclays PLC	Barclays PLC	Buy	+264,969+31.9%	$17.20K	1,095,319
Q1 2014Mar 31, 2014	WFC Wells Fargo & Company	Wells Fargo & Company	Buy	+230,945+16.6%	$85.00K	1,624,445
Q1 2014Mar 31, 2014	CCL Carnival Corporation	Carnival Corporation	Buy	+195,600+16.4%	$55.17K	1,385,000
Q1 2014Mar 31, 2014	ABBNY ABB Ltd.	ABB Ltd.	Buy	+178,106+50.0%	$13.78K	534,319
Q1 2014Mar 31, 2014	RDY Dr. Reddy's Laboratories Ltd	Dr. Reddy's Laboratories Ltd	Buy	+168,719+65.8%	$17.84K	425,200
Q1 2014Mar 31, 2014	UNH UnitedHealth Group Incorporated	UnitedHealth Group Incorporated	Buy	+151,422+12.3%	$119.27K	1,385,240
Q1 2014Mar 31, 2014	JNJ Johnson & Johnson	Johnson & Johnson	Buy	+136,900+24.5%	$72.04K	696,350
Q1 2014Mar 31, 2014	PBR-A Petroleo Brasileiro S.A.- Petro	Petroleo Brasileiro S.A.- Petro	Buy	+78,200+9.4%	$11.22K	906,100
Q1 2014Mar 31, 2014	RIO Rio Tinto Plc	Rio Tinto Plc	Buy	+76,104+59.3%	$11.41K	204,463
Q1 2014Mar 31, 2014	SNY Sanofi	Sanofi	Buy	+75,584+17.5%	$26.50K	506,901
Q1 2014Mar 31, 2014	DIS Walt Disney Company (The)	Walt Disney Company (The)	Buy	+61,100+16.0%	$37.23K	441,900
Q1 2014Mar 31, 2014	BA Boeing Company (The)	Boeing Company (The)	Buy	+53,400+8.9%	$86.63K	655,722
Q1 2014Mar 31, 2014	NVS Novartis AG	Novartis AG	Buy	+45,602+16.2%	$27.83K	327,343
Q1 2014Mar 31, 2014	BTI British American Tobacco Indus	British American Tobacco Indus	Buy	+39,086+23.4%	$22.95K	205,977
Q1 2014Mar 31, 2014	CUK Carnival Plc	Carnival Plc	Buy	+32,422+17.2%	$8.46K	220,561
Q1 2014Mar 31, 2014	HSBC HSBC Holdings, plc.	HSBC Holdings, plc.	Buy	+31,710+10.4%	$17.04K	335,218
Q1 2014Mar 31, 2014	SIEGY Siemens AG	Siemens AG	Buy	+25,627+15.8%	$25.45K	188,281
Q1 2014Mar 31, 2014	TV Grupo Televisa S.A.B.	Grupo Televisa S.A.B.	Buy - Position Entry	+24,407	$813.00	24,407
Q1 2014Mar 31, 2014	SAP SAP SE	SAP SE	Buy	+16,360+15.2%	$10.10K	124,149
Q1 2014Mar 31, 2014	CYD China Yuchai	China Yuchai	Buy	+15,700+10.3%	$3.08K	168,869
Q1 2014Mar 31, 2014	TM Toyota Motor Corporation	Toyota Motor Corporation	Buy	+12,690+10.7%	$14.84K	131,409
Q1 2014Mar 31, 2014	HDB HDFC Bank Limited	HDFC Bank Limited	Buy	+5,300+117.4%	$403.00	9,816
Q1 2014Mar 31, 2014	IBN ICICI Bank Limited	ICICI Bank Limited	Buy	+5,200+72.2%	$543.00	12,400
Q1 2014Mar 31, 2014	SBS Companhia de saneamento Basico	Companhia de saneamento Basico	Buy	+2,100+1.3%	$1.05K	162,800

Page 106 of 111 • 3329 total trades

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