Value investor Sarah Ketterer's firm, Causeway Capital Management, drastically reduced its position in BP PLC during the second quarter of 2026. The firm sold over 95% of its stake, cutting its holdings from 997,930 shares down to just 46,060. This represented an estimated trade value of $35.17 million and shrunk the position's weight in Causeway's reported portfolio from 0.58% to a negligible 0.02%.
This trade information comes from a delayed quarterly disclosure filed with the SEC on August 13, 2026, and reflects transactions made between April 1 and June 30. During that period, BP reported a surge in profits driven by higher oil prices. [2, 3] However, the company's new CEO also stated that its performance had not met shareholder expectations, and announced divestments and job cuts. [4, 5] No specific reason for the sale was publicly provided by Causeway.