CAUSEWAY CAPITAL MANAGEMENT LLC

CIK

1165797

Location

LOS ANGELES, CA

Portfolio Value

Small $235,523,043

Diversification

Diversified

Filing Date

Global Rank

#354 / 8,232 ▲ 81

Top Industry

Drug Manufacturers - General 22.2%

3Y Alpha vs SPY

-5.4%

Period ended 3 months ago

Filed May 14, 2026 · 32d

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

+52.4%

SPY

+74.2%

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

8 positions · $235,523,043 total · Basic Materials only · as of Mar 31, 2026

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

Ticker	Company	Type	Shares	Δ Shares	Value (USD)	% Δ Value	% of Portfolio
AU	AngloGold Ashanti PLC Basic Materials	Added	898,816	+464,556	$87,508,725	+136.3%	37.16%
GFI	Gold Fields Ltd Basic Materials	Added	1,634,170	+13,094	$74,191,318	+4.8%	31.50%
GGB	Gerdau S.A. Basic Materials	Reduced	6,841,155	-418,278	$24,696,569	−7.8%	10.49%
CGAU	Centerra Gold Inc. Basic Materials	Reduced	1,245,027	-4,762	$22,149,030	+23.3%	9.40%
MT	ArcelorMittal Basic Materials	Reduced	265,697	-119,152	$13,810,930	−21.2%	5.86%
FSM	Fortuna Mining Corp. Basic Materials	Added	1,251,045	+387,417	$12,422,876	+46.6%	5.27%
BTG	B2gold Corp Basic Materials	Held	94,491	0	$428,044	+0.4%	0.18%
B	Barrick Mining Corp Basic Materials	Reduced	7,736	-6,085,659	$315,551	−99.9%	0.13%