Sarah Ketterer
Portfolio value$9.2B
Positions122
QuarterQ2 2026ended 2026-06-30
Filed08/132026
Q2 2026 versus Q1 2026: 23 bought, 48 added to, 46 reduced, 8 sold. By dollars, the largest buy was Carnival, $1.2B more at the quarter-end price; the largest sale Carnival Corp, $960.1M less. Net, $633.9M more bought than sold. What every tracked investor did in Q2 2026.
Every move, largest first
| Ticker | Issuer | Move | Shares Q1 2026 → Q2 2026 | Bought / sold | Of the portfolio | Weight now | Price vs model |
|---|---|---|---|---|---|---|---|
| CCL | Carnival Corp LTD | bought | — → 41.2M | +$1.2B | +12.74% | 12.7% | 20% undervalued |
| CCL1EUR | Carnival Corp | sold | 37.1M → 0 | −$960.1M | −10.40% | — | — |
| AZN | Astrazeneca PLC | added +26% | 7.4M → 9.4M | +$362.3M | +3.92% | 19.0% | — |
| CP | Canadian Pacific Kansas City LTD | reduced −24% | 8.8M → 6.7M | −$180.3M | −1.95% | 6.3% | — |
| DB | Deutsche Bank AG | added +18% | 25.0M → 29.4M | +$148.9M | +1.61% | 10.8% | — |
| NTES | Netease INC | bought | — → 572,412 | +$73.3M | +0.79% | 0.8% | — |
| WHR | Whirlpool Corp | sold | 1.2M → 0 | −$64.8M | −0.70% | — | — |
| APTV | Aptiv PLC | sold | 683,463 → 0 | −$47.5M | −0.51% | — | — |
| JOYY | Joyy INC | reduced −85% | 750,751 → 109,297 | −$42.3M | −0.46% | 0.1% | — |
| CTSH | Cognizant Technology Solutions Corp | reduced −67% | 1.5M → 494,846 | −$39.1M | −0.42% | 0.2% | 33% undervalued |
| ALK | Alaska Air Group INC | added +27% | 2.5M → 3.2M | +$35.5M | +0.38% | 1.8% | — |
| BP | Bp PLC | reduced −95% | 997,934 → 46,059 | −$35.2M | −0.38% | 0.0% | — |
| G | Genpact LTD | reduced −64% | 1.9M → 710,380 | −$34.1M | −0.37% | 0.2% | — |
| IR | Ingersoll Rand INC | added +65% | 626,062 → 1.0M | +$33.4M | +0.36% | 0.9% | 75% overvalued |
| LYV | Live Nation Entertainment INC | added +34% | 526,418 → 706,301 | +$32.9M | +0.36% | 1.4% | 65% overvalued |
| META | Meta Platforms INC | added +39% | 144,799 → 201,459 | +$31.9M | +0.35% | 1.2% | 10% overvalued |
| BSX | Boston Scientific Corp | bought | — → 720,339 | +$30.7M | +0.33% | 0.3% | 20% undervalued |
| JD | Jd.com INC | bought | — → 1.2M | +$30.6M | +0.33% | 0.3% | — |
| SAP | Sap Se | added +38% | 456,005 → 629,801 | +$26.8M | +0.29% | 1.1% | — |
| C | Citigroup INC | reduced −28% | 634,931 → 458,858 | −$24.6M | −0.27% | 0.7% | 8% overvalued |
| SW | Smurfit Westrock PLC | reduced −3% | 15.6M → 15.0M | −$24.4M | −0.26% | 7.5% | 9% undervalued |
| PDD | Pdd Holdings INC | sold | 237,010 → 0 | −$24.2M | −0.26% | — | — |
| NVO | Novo Nordisk A/s | added +43% | 1.2M → 1.7M | +$24.1M | +0.26% | 0.9% | — |
| HTHT | H World Group LTD | bought | — → 570,437 | +$23.8M | +0.26% | 0.3% | — |
| ADI | Analog Devices INC | reduced −30% | 201,819 → 142,050 | −$23.7M | −0.26% | 0.6% | 99% overvalued |
| PBR/A | Petroleo Brasileiro SA - Petrobras | added +107% | 1.5M → 3.1M | +$23.4M | +0.25% | 0.5% | — |
| OGC | Oceanagold Corp | bought | — → 911,012 | +$22.8M | +0.25% | 0.2% | — |
| VEA | Vanguard Ftse Developed Markets ETF | reduced −42% | 736,637 → 427,314 | −$22.0M | −0.24% | 0.3% | — |
| JLL | Jones Lang Lasalle INC | added +33% | 186,274 → 248,252 | +$19.2M | +0.21% | 0.8% | — |
| DIS | Walt Disney Co/the | reduced −36% | 559,882 → 360,600 | −$19.2M | −0.21% | 0.4% | 9% undervalued |
| BUD | Anheuser-busch Inbev Sa/nv | reduced −40% | 580,131 → 347,657 | −$19.2M | −0.21% | 0.3% | — |
| DEO | Diageo PLC | added +35% | 666,314 → 899,015 | +$18.7M | +0.20% | 0.8% | — |
| VIST | Vista Energy Sab de Cv | added +127% | 220,918 → 501,275 | +$17.9M | +0.19% | 0.3% | — |
| SNN | Smith & Nephew PLC | added +64% | 953,146 → 1.6M | +$17.6M | +0.19% | 0.5% | — |
| RELX | Relx PLC | reduced −24% | 2.3M → 1.8M | −$17.2M | −0.19% | 0.6% | — |
| AU | Anglogold Ashanti PLC | reduced −23% | 898,816 → 688,027 | −$17.1M | −0.18% | 0.6% | — |
| PHG | Koninklijke Philips NV | added +25% | 2.5M → 3.1M | +$16.5M | +0.18% | 0.9% | — |
| ARCO | Arcos Dorados Holdings INC | bought | — → 2.0M | +$15.8M | +0.17% | 0.2% | — |
| SHG | Shinhan Financial Group CO LTD | reduced −97% | 253,576 → 6,594 | −$15.6M | −0.17% | 0.0% | — |
| MT | Arcelormittal SA | reduced −92% | 265,697 → 22,155 | −$14.7M | −0.16% | 0.0% | — |
| INFY | Infosys LTD | reduced −72% | 1.9M → 526,963 | −$14.4M | −0.16% | 0.1% | — |
| TIGO | Millicom International Cellular SA | reduced −68% | 208,718 → 65,932 | −$13.0M | −0.14% | 0.1% | — |
| MRK | Merck & CO INC | added +12% | 854,212 → 954,932 | +$12.9M | +0.14% | 1.3% | 24% undervalued |
| TXN | Texas Instruments INC | reduced −19% | 206,214 → 166,496 | −$11.8M | −0.13% | 0.5% | 131% overvalued |
| TD | Toronto-dominion Bank/the | bought | — → 97,238 | +$11.8M | +0.13% | 0.1% | — |
| TSM | Taiwan Semiconductor Manufacturing CO LTD | added +5% | 508,471 → 532,052 | +$11.3M | +0.12% | 2.8% | — |
| SNY | Sanofi SA | reduced −24% | 1.1M → 804,056 | −$11.1M | −0.12% | 0.4% | — |
| PUK | Prudential PLC | added +28% | 1.3M → 1.7M | +$9.9M | +0.11% | 0.5% | — |
| CM | Canadian Imperial Bank Of Commerce | bought | — → 83,789 | +$9.6M | +0.10% | 0.1% | — |
| NWG | Natwest Group PLC | added +17% | 3.0M → 3.5M | +$8.8M | +0.10% | 0.7% | — |
| INDA | Ishares Msci India ETF | added +37% | 459,200 → 628,500 | +$8.4M | +0.09% | 0.3% | — |
| PAGS | Pagseguro Digital LTD | reduced −23% | 4.0M → 3.1M | −$8.3M | −0.09% | 0.3% | — |
| BWLP | Bw Lpg LTD | added +2889% | 15,291 → 457,050 | +$7.7M | +0.08% | 0.1% | — |
| SU | Suncor Energy INC | bought | — → 138,526 | +$7.4M | +0.08% | 0.1% | — |
| GOOG | Alphabet INC | reduced −6% | 337,298 → 316,217 | −$7.4M | −0.08% | 1.2% | 49% overvalued |
| BABA | Alibaba Group Holding LTD | reduced −7% | 1.1M → 995,040 | −$7.1M | −0.08% | 1.0% | — |
| FSM | Fortuna Mining Corp | added +67% | 1.3M → 2.1M | +$7.1M | +0.08% | 0.2% | — |
| UNH | Unitedhealth Group INC | added +22% | 71,864 → 87,447 | +$6.5M | +0.07% | 0.4% | 19% overvalued |
| TAL | Tal Education Group | added +19% | 3.5M → 4.1M | +$6.2M | +0.07% | 0.4% | — |
| TME | Tencent Music Entertainment Group | sold | 612,900 → 0 | −$5.7M | −0.06% | — | — |
| CARR | Carrier Global Corp | added +4% | 2.1M → 2.2M | +$5.5M | +0.06% | 1.7% | 51% overvalued |
| EEM | Ishares Msci Emerging Markets ETF | bought | — → 74,974 | +$5.1M | +0.06% | 0.1% | — |
| ZIM | Zim Integrated Shipping Services LTD | reduced −22% | 889,550 → 694,474 | −$5.1M | −0.05% | 0.2% | — |
| SMIN | Ishares Msci India Small-cap ETF | added +15% | 471,654 → 542,849 | +$5.0M | +0.05% | 0.4% | — |
| ING | Ing Groep NV | added +10% | 1.5M → 1.7M | +$4.8M | +0.05% | 0.6% | — |
| AXS | Axis Capital Holdings LTD | added +5% | 815,794 → 859,727 | +$4.7M | +0.05% | 1.0% | — |
| KSA | Ishares Msci Saudi Arabia ETF | added +235% | 52,898 → 177,079 | +$4.6M | +0.05% | 0.1% | — |
| NGG | National Grid PLC | added +10% | 538,761 → 590,240 | +$4.3M | +0.05% | 0.5% | — |
| QFIN | Qfin Holdings INC | sold | 330,288 → 0 | −$4.3M | −0.05% | — | — |
| HAFN | Hafnia LTD | added +1183% | 54,367 → 697,424 | +$4.2M | +0.05% | 0.0% | — |
| BAP | Credicorp LTD | added +4% | 245,113 → 255,436 | +$4.0M | +0.04% | 1.1% | — |
| STN | Stantec INC | bought | — → 56,200 | +$3.9M | +0.04% | 0.0% | — |
| GLBE | Global-e Online LTD | bought | — → 102,195 | +$3.5M | +0.04% | 0.0% | — |
| VSS | Vanguard Ftse All World Ex-us Small-cap ETF | reduced −22% | 103,581 → 80,907 | −$3.5M | −0.04% | 0.1% | — |
| MGA | Magna International INC | bought | — → 45,900 | +$3.0M | +0.03% | 0.0% | — |
| SMFG | Sumitomo Mitsui Financial Group INC | added +10% | 1.3M → 1.4M | +$3.0M | +0.03% | 0.4% | — |
| BTI | British American Tobacco PLC | added +9% | 500,864 → 547,925 | +$2.9M | +0.03% | 0.4% | — |
| IAG | Iamgold Corp | bought | — → 172,916 | +$2.7M | +0.03% | 0.0% | — |
| GFI | Gold Fields LTD | added +5% | 1.6M → 1.7M | +$2.7M | +0.03% | 0.6% | — |
| BCS | Barclays PLC | reduced −2% | 4.1M → 4.0M | −$2.6M | −0.03% | 1.2% | — |
| WB | Weibo Corp | reduced −13% | 2.7M → 2.3M | −$2.5M | −0.03% | 0.2% | — |
| CFG | Citizens Financial Group INC | added +3% | 1.0M → 1.1M | +$2.0M | +0.02% | 0.8% | 12% overvalued |
| CLS | Celestica INC | reduced −21% | 24,809 → 19,598 | −$1.9M | −0.02% | 0.1% | — |
| EFA | Ishares Msci Eafe ETF | reduced −45% | 37,761 → 20,761 | −$1.8M | −0.02% | 0.0% | — |
| VWO | Vanguard Ftse Emerging Markets ETF | added +376% | 7,469 → 35,556 | +$1.7M | +0.02% | 0.0% | — |
| ZBH | Zimmer Biomet Holdings INC | reduced −2% | 808,110 → 788,810 | −$1.7M | −0.02% | 0.7% | 44% undervalued |
| GGB | Gerdau SA | added +6% | 6.8M → 7.2M | +$1.6M | +0.02% | 0.3% | — |
| ACWI | Ishares Msci Acwi ETF | reduced −50% | 15,421 → 7,691 | −$1.2M | −0.01% | 0.0% | — |
| EFXT | Enerflex LTD | sold | 52,946 → 0 | −$1.1M | −0.01% | — | — |
| EG | Everest Group LTD | added +1% | 250,008 → 252,702 | +$962,377 | +0.01% | 1.0% | 7% undervalued |
| EWT | Ishares Msci Taiwan ETF | added +21% | 37,151 → 45,108 | +$864,209.8 | +0.01% | 0.1% | — |
| OTEX | Open Text Corp | bought | — → 36,500 | +$807,567 | +0.01% | 0.0% | — |
| INMD | Inmode LTD | reduced −75% | 71,829 → 18,180 | −$784,349.6 | −0.01% | 0.0% | — |
| VEU | Vanguard Ftse All-world Ex-us ETF | added +149% | 6,191 → 15,389 | +$770,330.9 | +0.01% | 0.0% | — |
| CNQ | Canadian Natural Resources LTD | bought | — → 18,400 | +$727,829 | +0.01% | 0.0% | — |
| CGAU | Centerra Gold INC | added +3% | 1.2M → 1.3M | +$639,960.4 | +0.01% | 0.2% | — |
| FINV | Finvolution Group | reduced −5% | 2.4M → 2.3M | −$551,827.1 | −0.01% | 0.1% | — |
| INTR | Inter & CO INC | bought | — → 100,618 | +$546,356 | +0.01% | 0.0% | — |
| BIIB | Biogen INC | reduced −1% | 280,783 → 278,283 | −$540,149.6 | −0.01% | 0.7% | 34% undervalued |
| ORLA | Orla Mining LTD | bought | — → 52,100 | +$509,341 | +0.01% | 0.0% | — |
Bought / sold is the change in shares × the quarter's reported price (value ÷ shares in the filing); a position sold out is priced at the quarter before, since it has no price in this one. “Of the portfolio” is that amount against this quarter's reported book.
Source: the manager's Form 13F-HR on SEC EDGAR, kept as immutable quarterly snapshots; changes compare two consecutive filings. A 13F is filed up to 45 days after quarter end and covers US-listed long positions only. Tickers come from a self-maintained CUSIP map; a position without one shows its CUSIP. Method notes in where the numbers come from.