CAUSEWAY CAPITAL MANAGEMENT LLC

CIK

1165797

Location

LOS ANGELES, CA

Portfolio Value

Mid $7,946,009,921

Diversification

Diversified

Filing Date

Global Rank

#485 / 8,621 ▲ 54 · as of Mar 2026

Top Industry

Drug Manufacturers - General 22.2%

3Y Alpha vs SPY

-5.0%

Period ended 4 months ago

Filed May 14, 2026 · 3mo

25 quarters · since Mar 2020

Clone Performance

Jul 2023–Jul 2026 · vs SPY

Hypothetical growth of buying every stock this filer reported holding, rebalancing on each filing and indexed to the same start. Option positions cannot be bought this way and are left out.

Cloned portfolio

+52.2%

SPY

+67.9%

Annualised alpha

-3.8%

Max drawdown

−16.8%

Estimate. 13F holdings are quarter-lagged, so the clone rebalances about 45 days after each period end — when the filing becomes public — and it excludes option and short positions. It tracks 100% of reported value on average across 13 quarters. Past performance does not predict future results.

Portfolio Concentration

94 positions · as of Mar 31, 2026 · Δ vs Dec 31, 2025

Top Position

18.4%

+3.4 pts

Top 5

56.4%

+5.6 pts

Top 10

64.2%

+3.7 pts

HHI

749

Diversified+102

Portfolio Trend

25 quarters · across all stocks

Sector Breakdown

As of Mar 31, 2026

Sector	% Portfolio	Value	Positions
Healthcare	24.6%	$1,958,066,910	13
Consumer Cyclical	23.3%	$1,853,364,638	7
Financial Services	17.9%	$1,422,284,157	19
Industrials	14.9%	$1,182,165,629	10
Technology	7.5%	$595,507,826	15
Communication Services	3.8%	$305,583,942	7
Basic Materials	3.0%	$235,523,043	8
Consumer Defensive	2.0%	$159,062,935	5
Utilities	1.2%	$92,664,213	2
Real Estate	1.0%	$76,513,981	3
Energy	0.8%	$65,272,647	5

Last Quarter's Activity

Export CSV

Mar 31, 2026 vs Dec 31, 2025

Added To

Positions the filer increased

25 positions

Ticker	Company	Δ Shares	Shares	Value
DB	Deutsche Bank Aktiengesellschaft	+10,767,680	24,962,034	$743,369,372
CCL	Carnival Corp Ltd.	+3,151,811	37,096,593	$960,059,826
NWG	NatWest Group plc	+1,401,045	2,988,309	$44,525,804
RELX	Relx PLC	+1,117,030	2,306,409	$76,457,458
ALK	Alaska Air Group, Inc.	+1,067,694	2,502,211	$92,031,320
ING	Ing Groep NV	+555,742	1,537,748	$40,058,335
AU	AngloGold Ashanti PLC	+464,556	898,816	$87,508,725
BAH	Booz Allen Hamilton Holding Corp	+461,130	857,462	$66,907,759
WHR	Whirlpool Corp /De/	+440,765	1,201,993	$64,811,462
FSM	Fortuna Mining Corp.	+387,417	1,251,045	$12,422,876
SNN	Smith & Nephew PLC	+349,334	953,146	$30,290,979
BCS	Barclays PLC	+323,460	4,074,067	$86,207,257
PHG	Koninklijke Philips NV	+257,659	2,456,190	$67,299,606
CARR	CARRIER GLOBAL Corp	+254,051	2,102,878	$118,413,060
SAP	Sap SE	+205,257	456,005	$78,072,616
DEO	Diageo PLC	+181,026	666,314	$49,607,077
NVO	Novo Nordisk A S	+180,363	1,174,213	$43,152,327
BA	Boeing Co	+161,998	313,926	$62,480,691
JLL	Jones Lang Lasalle Inc	+126,818	186,274	$56,686,903
BXP	BXP, Inc.	+108,712	380,761	$19,761,495
AXS	Axis Capital Holdings Ltd	+94,573	815,794	$82,729,669
SMFG	Sumitomo Mitsui Financial Group, Inc.	+89,974	1,267,248	$25,028,148
ZBH	Zimmer Biomet Holdings, Inc.	+79,612	808,110	$73,069,306
LYV	Live Nation Entertainment, Inc.	+79,305	526,418	$80,284,009
META	Meta Platforms, Inc.	+34,414	144,799	$82,843,851
No positions match the current search.

Trimmed

Positions the filer reduced

25 positions

Ticker	Company	Δ Shares	Shares	Value
B	Barrick Mining Corp	−6,085,659	7,736	$315,551
CP	Canadian Pacific Kansas City Ltd/Cn	−3,804,421	8,792,381	$691,608,689
SW	Smurfit Westrock plc	−3,566,851	15,566,028	$620,306,215
TME	Tencent Music Entertainment Group	−1,076,676	612,900	$5,687,712
QFIN	Qfin Holdings, Inc.	−976,348	330,288	$4,264,018
BP	Bp PLC	−642,746	997,934	$46,902,898
INFY	Infosys Ltd	−585,830	1,896,488	$25,621,552
GGB	Gerdau S.A.	−418,278	6,841,155	$24,696,569
FINV	FinVolution Group	−360,843	2,401,084	$11,501,192
SHG	Shinhan Financial Group Co Ltd	−326,220	253,576	$15,549,280
WB	WEIBO Corp	−326,032	2,666,202	$23,329,267
ZIM	ZIM Integrated Shipping Services Ltd.	−323,456	889,550	$23,439,642
BIIB	Biogen Inc.	−240,318	280,783	$51,475,947
MRK	Merck & Co., Inc.	−190,405	854,212	$102,753,161
PUK	Prudential PLC	−187,761	1,321,151	$37,560,322
PFE	Pfizer Inc	−177,500	1,914,219	$53,751,269
NGG	National Grid PLC	−170,724	538,761	$45,579,180
G	Genpact LTD	−135,532	1,948,677	$72,588,218
PDD	PDD Holdings Inc.	−134,231	237,010	$24,217,681
BABA	Alibaba Group Holding Ltd	−134,159	1,068,890	$134,102,939
BUD	Anheuser-Busch InBev SA/NV	−121,212	580,131	$40,243,687
MT	ArcelorMittal	−119,152	265,697	$13,810,930
C	Citigroup Inc	−62,514	634,931	$72,007,524
JOYY	JOYY Inc.	−61,850	750,751	$43,836,350
ADI	Analog Devices Inc	−61,211	201,819	$64,206,696
No positions match the current search.

New Positions

Positions the filer opened this quarter

10 positions

Ticker	Company	Shares	Value
AZN	Astrazeneca PLC	7,421,749	$1,463,717,337
DTE	Dte Energy Co	322,015	$47,085,033
TXN	Texas Instruments Inc	206,214	$40,034,385
TAL	TAL Education Group	3,478,417	$39,549,601
UNH	Unitedhealth Group Inc	71,864	$19,445,679
VIST	Vista Energy, S.A.B. de C.V.	220,918	$16,672,681
CIB	Grupo Cibest S.A.	132,364	$9,637,422
HAFN	Hafnia Ltd	54,367	$413,189
BWLP	BW LPG Ltd	15,291	$265,604
ALL	Allstate Corp	1,005	$208,376
No positions match the current search.

Sold Out

Positions the filer fully exited

8 positions

Ticker	Company	Shares	Value
GPK	Graphic Packaging Holding Co	4,528,554	$68,200,023
ALLY	Ally Financial Inc.	600,850	$27,212,496
VIPS	Vipshop Holdings Ltd	1,089,598	$19,274,988
VALE	Vale S.A.	904,000	$11,779,120
MOMO	Hello Group Inc.	889,397	$5,825,550
GRTUF	Granite Real Estate Investment Trust	23,700	$1,402,803
KEP	Korea Electric Power Corp	11,202	$184,833
PBYI	Puma Biotechnology, Inc.	13,310	$79,194
No positions match the current search.

Portfolio Positions

Compact Export CSV View 13F filing

94 positions · $7,946,009,921 total · as of Mar 31, 2026

All sectors Basic Materials Communication Services Consumer Cyclical Consumer Defensive Energy Financial Services Healthcare Industrials Real Estate Technology Utilities

Showing 1–50 of 94 positions by value · page 1 of 2

Ticker	Company	Type	Shares	Δ Shares	Value (USD)	% Δ Value	% of Portfolio
AZN	Astrazeneca PLC Healthcare	NEW	7,421,749	NEW	$1,463,717,337	NEW	18.42%
CCL	Carnival Corp Ltd. Consumer Cyclical	Added	37,096,593	+3,151,811	$960,059,826	−7.4%	12.08%
DB	Deutsche Bank Aktiengesellschaft Financial Services	Added	24,962,034	+10,767,680	$743,369,372	+35.8%	9.36%
CP	Canadian Pacific Kansas City Ltd/Cn Industrials	Reduced	8,792,381	-3,804,421	$691,608,689	−25.4%	8.70%
SW	Smurfit Westrock plc Consumer Cyclical	Reduced	15,566,028	-3,566,851	$620,306,215	−16.2%	7.81%
TSM	Taiwan Semiconductor Manufacturing Co Ltd Technology	Reduced	508,471	-3,249	$171,837,774	+10.5%	2.16%
BABA	Alibaba Group Holding Ltd Consumer Cyclical	Reduced	1,068,890	-134,159	$134,102,939	−24.0%	1.69%
CARR	CARRIER GLOBAL Corp Industrials	Added	2,102,878	+254,051	$118,413,060	+21.2%	1.49%
MRK	Merck & Co., Inc. Healthcare	Reduced	854,212	-190,405	$102,753,161	−6.6%	1.29%
CTSH	Cognizant Technology Solutions Corp Technology	Reduced	1,504,253	-48,108	$92,285,921	−28.4%	1.16%
ALK	Alaska Air Group, Inc. Industrials	Added	2,502,211	+1,067,694	$92,031,320	+27.5%	1.16%
AU	AngloGold Ashanti PLC Basic Materials	Added	898,816	+464,556	$87,508,725	+136.3%	1.10%
BCS	Barclays PLC Financial Services	Added	4,074,067	+323,460	$86,207,257	−9.7%	1.08%
BAP	Credicorp Ltd Financial Services	Added	245,113	+3,089	$83,137,427	+19.7%	1.05%
META	Meta Platforms, Inc. Communication Services	Added	144,799	+34,414	$82,843,851	+13.7%	1.04%
AXS	Axis Capital Holdings Ltd Financial Services	Added	815,794	+94,573	$82,729,669	+7.1%	1.04%
EG	Everest Group, Ltd. Financial Services	Added	250,008	+11,450	$81,715,114	+0.9%	1.03%
LYV	Live Nation Entertainment, Inc. Communication Services	Added	526,418	+79,305	$80,284,009	+26.0%	1.01%
SAP	Sap SE Technology	Added	456,005	+205,257	$78,072,616	+28.2%	0.98%
RELX	Relx PLC Industrials	Added	2,306,409	+1,117,030	$76,457,458	+59.0%	0.96%
GFI	Gold Fields Ltd Basic Materials	Added	1,634,170	+13,094	$74,191,318	+4.8%	0.93%
ZBH	Zimmer Biomet Holdings, Inc. Healthcare	Added	808,110	+79,612	$73,069,306	+11.5%	0.92%
G	Genpact LTD Technology	Reduced	1,948,677	-135,532	$72,588,218	−25.6%	0.91%
C	Citigroup Inc Financial Services	Reduced	634,931	-62,514	$72,007,524	−11.5%	0.91%
PHG	Koninklijke Philips NV Healthcare	Added	2,456,190	+257,659	$67,299,606	+13.0%	0.85%
BAH	Booz Allen Hamilton Holding Corp Industrials	Added	857,462	+461,130	$66,907,759	+100.1%	0.84%
WHR	Whirlpool Corp /De/ Consumer Cyclical	Added	1,201,993	+440,765	$64,811,462	+18.0%	0.82%
ADI	Analog Devices Inc Technology	Reduced	201,819	-61,211	$64,206,696	−10.0%	0.81%
CFG	Citizens Financial Group Inc/Ri Financial Services	Added	1,048,526	+34,340	$62,880,104	+6.1%	0.79%
BA	Boeing Co Industrials	Added	313,926	+161,998	$62,480,691	+89.4%	0.79%
JLL	Jones Lang Lasalle Inc Real Estate	Added	186,274	+126,818	$56,686,903	+183.4%	0.71%
DIS	Walt Disney Co Communication Services	Added	559,882	+13,818	$53,961,427	−13.1%	0.68%
PFE	Pfizer Inc Healthcare	Reduced	1,914,219	-177,500	$53,751,269	+3.2%	0.68%
BIIB	Biogen Inc. Healthcare	Reduced	280,783	-240,318	$51,475,947	−43.9%	0.65%
SNY	Sanofi Healthcare	Added	1,064,516	+558	$51,288,380	−0.5%	0.65%
IR	Ingersoll Rand Inc. Industrials	Added	626,062	+29,291	$50,160,087	+6.1%	0.63%
DEO	Diageo PLC Consumer Defensive	Added	666,314	+181,026	$49,607,077	+18.5%	0.62%
APTV	Aptiv PLC Consumer Cyclical	Added	683,463	+14,843	$47,459,670	−6.7%	0.60%
DTE	Dte Energy Co Utilities	NEW	322,015	NEW	$47,085,033	NEW	0.59%
BP	Bp PLC Energy	Reduced	997,934	-642,746	$46,902,898	−17.7%	0.59%
NGG	National Grid PLC Utilities	Reduced	538,761	-170,724	$45,579,180	−16.9%	0.57%
NWG	NatWest Group plc Financial Services	Added	2,988,309	+1,401,045	$44,525,804	+60.3%	0.56%
JOYY	JOYY Inc. Communication Services	Reduced	750,751	-61,850	$43,836,350	−16.7%	0.55%
NVO	Novo Nordisk A S Healthcare	Added	1,174,213	+180,363	$43,152,327	−14.7%	0.54%
PAGS	PagSeguro Digital Ltd. Technology	Reduced	4,044,350	-1,107	$40,524,387	+3.9%	0.51%
BUD	Anheuser-Busch InBev SA/NV Consumer Defensive	Reduced	580,131	-121,212	$40,243,687	−10.4%	0.51%
ING	Ing Groep NV Financial Services	Added	1,537,748	+555,742	$40,058,335	+45.7%	0.50%
TXN	Texas Instruments Inc Technology	NEW	206,214	NEW	$40,034,385	NEW	0.50%
TAL	TAL Education Group Consumer Defensive	NEW	3,478,417	NEW	$39,549,601	NEW	0.50%
PUK	Prudential PLC Financial Services	Reduced	1,321,151	-187,761	$37,560,322	−20.0%	0.47%