CAUSEWAY CAPITAL MANAGEMENT LLC

CIK

1165797

Location

LOS ANGELES, CA

Portfolio Value

Mid $7,946,009,921

Diversification

Diversified

Filing Date

Global Rank

#354 / 8,232 ▲ 81

Top Industry

Drug Manufacturers - General 22.2%

3Y Alpha vs SPY

-5.2%

Period ended 2 months ago

Filed May 14, 2026 · 30d

25 quarters · since Mar 2020

Clone Performance

Jun 2023–Jun 2026 · vs SPY

Hypothetical growth of cloning every reported 13F position and rebalancing on each filing, indexed to the same start.

Cloned portfolio

+54.5%

SPY

+76.5%

Annualised alpha

-5.2%

Max drawdown

−16.8%

Estimate. 13F holdings are quarter-lagged and long-only, so the clone rebalances about 45 days after each period end — when the filing becomes public — and excludes options and short positions. 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%