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CCM

Causeway Capital Management Portfolio holdings

AUM $9.24B
1-Year Est. Return 21.27%
This Fund
S&P 500
This Quarter Est. Return
+8.29%
1 Year Est. Return
+21.27%
3 Year Est. Return
+72.78%
5 Year Est. Return
+71.25%
10 Year Est. Return
+282.28%
AUM
$9.24B
AUM Growth
+$1.09B
Cap. Flow
+$508M
Cap. Flow %
5.5%
Top 10 Hldgs %
65.32%
Holding
129
New
22
Increased
49
Reduced
46
Closed
7
Avg Time Held
10.7 quarters
Top 10 Avg Time Held
3.9 quarters
Top 20 Avg Time Held
5.2 quarters

Top Buys

Rank Stock Value
1
AZN icon
AstraZeneca
AZN
+$364M
2
DB icon
Deutsche Bank
DB
+$142M
3
CCL icon
Carnival Corporation Ltd
CCL
+$112M
4
NTES icon
NetEase
NTES
+$67.6M
5
BSX icon
Boston Scientific
BSX
+$39.1M

Top Sells

Rank Stock Value
1
CP icon
Canadian Pacific Kansas City
CP
+$178M
2
WHR icon
Whirlpool
WHR
+$64.8M
3
CTSH icon
Cognizant
CTSH
+$53.2M
4
APTV icon
Aptiv
APTV
+$47.5M
5
BP icon
BP
BP
+$41.8M

Sector Composition

Rank Sector Weight
1 Healthcare 25.55%
2 Consumer Discretionary 22.18%
3 Financials 19.31%
4 Industrials 12.93%
5 Technology 5.87%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow Held Since
AZN icon
1
AstraZeneca
AZN
$246B
$1.75B 18.97%
9,357,390
+1,935,641
+26% +$364M
2021 Q2
20 quarters
CCL icon
2
Carnival Corporation Ltd
CCL
$35.6B
$1.18B 12.74%
41,190,606
+4,094,013
+11% +$112M
2025 Q1
5 quarters
DB icon
3
Deutsche Bank
DB
$63.2B
$994M 10.77%
29,358,318
+4,396,284
+18% +$142M
2025 Q1
5 quarters
SW icon
4
Smurfit Westrock
SW
$21.5B
$696M 7.53%
15,039,041
-526,987
-3% -$21.8M
2024 Q3
7 quarters
CP icon
5
Canadian Pacific Kansas City
CP
$75.2B
$582M 6.3%
6,711,483
-2,080,898
-24% -$178M
2023 Q3
11 quarters
TSM icon
6
TSMC
TSM
$2.3T
$254M 2.75%
532,052
+23,581
+5% +$9.57M
2013 Q2
52 quarters
ALK icon
7
Alaska Air
ALK
$4.25B
$166M 1.8%
3,183,163
+680,952
+27% +$29.1M
2025 Q4
2 quarters
CARR icon
8
Carrier Global
CARR
$45.7B
$160M 1.73%
2,178,506
+75,628
+4% +$4.94M
2025 Q3
3 quarters
LYV icon
9
Live Nation Entertainment
LYV
$39.5B
$129M 1.4%
706,301
+179,883
+34% +$29.6M
2024 Q3
7 quarters
MRK icon
10
Merck
MRK
$359B
$123M 1.33%
954,932
+100,720
+12% +$11.8M
2024 Q4
6 quarters
META icon
11
Meta Platforms (Facebook)
META
$1.89T
$113M 1.23%
201,459
+56,660
+39% +$34.6M
2021 Q2
20 quarters
GOOG icon
12
Alphabet (Google) Class C
GOOG
$4.27T
$112M 1.21%
316,217
-21,081
-6% -$7.53M
2020 Q3
23 quarters
BCS icon
13
Barclays
BCS
$76.9B
$107M 1.16%
3,975,718
-98,349
-2% -$2.37M
2013 Q2
52 quarters
BAP icon
14
Credicorp
BAP
$30.3B
$99.5M 1.08%
255,436
+10,323
+4% +$3.53M
2024 Q2
8 quarters
SAP icon
15
SAP
SAP
$251B
$97.1M 1.05%
629,801
+173,796
+38% +$29.6M
2019 Q1
29 quarters
BABA icon
16
Alibaba
BABA
$276B
$95.5M 1.03%
995,040
-73,850
-7% -$9.25M
2015 Q4
42 quarters
AXS icon
17
AXIS Capital
AXS
$7.1B
$92.4M 1%
859,727
+43,933
+5% +$4.4M
2024 Q3
7 quarters
EG icon
18
Everest Group
EG
$14.3B
$90.3M 0.98%
252,702
+2,694
+1% +$922K
2025 Q3
3 quarters
IR icon
19
Ingersoll Rand
IR
$30.7B
$84.8M 0.92%
1,033,693
+407,631
+65% +$31.5M
2025 Q2
4 quarters
PHG icon
20
Philips
PHG
$24.2B
$83.3M 0.9%
3,061,962
+514,579
+20% +$13.6M
2022 Q1
17 quarters
NVO icon
21
Novo Nordisk
NVO
$170B
$80.4M 0.87%
1,677,615
+503,402
+43% +$21.6M
2025 Q2
4 quarters
JLL icon
22
Jones Lang LaSalle
JLL
$13.7B
$76.9M 0.83%
248,252
+61,978
+33% +$19.3M
2022 Q2
16 quarters
CFG icon
23
Citizens Financial Group
CFG
$26.9B
$75.5M 0.82%
1,077,093
+28,567
+3% +$1.84M
2023 Q2
12 quarters
NTES icon
24
NetEase
NTES
$80.3B
$73.3M 0.79%
+572,412
New +$67.6M
2026 Q2
0 quarters
DEO icon
25
Diageo
DEO
$49.3B
$72.3M 0.78%
899,015
+232,701
+35% +$18.8M
2023 Q1
13 quarters
1
2 3 4 5

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FT
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MU
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UBP
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Causeway Capital Management's Q2 2026 Portfolio in Review

As of Q2 2026, Causeway Capital Management held 129 positions worth $9.24B, up 13% from $8.15B the previous quarter. Its ten largest holdings account for 65% of the portfolio.

Causeway Capital Management deployed $508M of net new capital in Q2 2026, opening 22 new positions and adding to 49 existing holdings. Its largest new stake was NetEase: 572,412 shares worth $73.3M.

By sector, the portfolio is most concentrated in Healthcare at 26% of assets, up from 24% a quarter earlier, followed by Consumer Discretionary and Financials.

On the sell side, the largest reduction was Canadian Pacific Kansas City, an estimated $178M trimmed.

  • Causeway Capital Management's largest Q2 2026 buy was NetEase: 572,412 shares worth $73.3M.
  • Causeway Capital Management added most to AstraZeneca in Q2 2026, an estimated $364M increase.
  • Causeway Capital Management's biggest Q2 2026 reduction was Canadian Pacific Kansas City, cutting an estimated $178M.
  • Causeway Capital Management fully exited Whirlpool in Q2 2026, selling an estimated $64.8M.
  • Causeway Capital Management's ten largest holdings make up 65% of its $9.24B portfolio in Q2 2026.
  • Causeway Capital Management opened 22 new positions and closed 7 in Q2 2026.
  • Causeway Capital Management's portfolio value rose 13% quarter-over-quarter to $9.24B.

Based on Causeway Capital Management's 13F filing for Q2 2026, filed 13 Aug 2026.