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CCM
Causeway Capital Management Portfolio holdings
AUM
$8.15B
1-Year Est. Return
29.28%
This Fund
S&P 500
This Quarter
Est. Return
+14.36%
1 Year Est. Return
+29.28%
3 Year Est. Return
+68.26%
5 Year Est. Return
+63.05%
10 Year Est. Return
+255.95%
AUM
$5.37B
AUM Growth
-$179M
(-3.2%)
Cap. Flow
-$801M
Cap. Flow
% of AUM
-14.91%
Top 10 Holdings %
Top 10 Hldgs %
55.2%
Holding
90
New
11
Increased
27
Reduced
40
Closed
11
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
Alphabet (Google) Class C
GOOG
|
+$105M |
| 2 |
Booking.com
BKNG
|
+$78M |
| 3 |
Las Vegas Sands
LVS
|
+$77.2M |
| 4 |
Alaska Air
ALK
|
+$58.5M |
| 5 |
Aflac
AFL
|
+$58.4M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Linde
LIN
|
+$348M |
| 2 |
Baidu
BIDU
|
+$252M |
| 3 |
Ryanair
RYAAY
|
+$176M |
| 4 |
Microsoft
MSFT
|
+$94.7M |
| 5 |
FedEx
FDX
|
+$85.6M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Consumer Discretionary | 19.23% |
| 2 | Technology | 18.92% |
| 3 | Communication Services | 15.6% |
| 4 | Industrials | 14.88% |
| 5 | Financials | 10.9% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
1
Alibaba
BABA
$276B
| $623M | 11.59% |
2,118,196
+168,973
| +9% | +$44.5M |
|
|
2
Baidu
BIDU
$35.7B
| $513M | 9.54% |
4,051,280
-2,030,210
| -33% | -$252M |
|
|
3
Ryanair
RYAAY
$30B
| $505M | 9.41% |
15,455,720
-5,657,913
| -27% | -$176M |
|
4
TSMC
TSM
$1.94T
| $434M | 8.08% |
5,357,918
+173,501
| +3% | +$13.2M |
|
|
5
Linde
LIN
$236B
| $252M | 4.68% |
1,056,844
-1,434,079
| -58% | -$348M |
|
6
JD.com
JD
$43.5B
| $158M | 2.94% |
2,036,347
-29,805
| -1% | -$2.07M |
|
7
Coca-Cola Europacific Partners
CCEP
$49.1B
| $152M | 2.84% |
3,927,679
-514,461
| -12% | -$21.1M |
|
8
Ashland
ASH
$3.34B
| $114M | 2.13% |
1,613,300
+27,325
| +2% | +$2.03M |
|
9
TD Synnex
SNX
$19.9B
| $112M | 2.09% |
1,600,242
-775,040
| -33% | -$48.8M |
|
10
Leidos
LDOS
$14.4B
| $102M | 1.91% |
1,149,467
-32,463
| -3% | -$2.93M |
|
|
11
Alphabet (Google) Class C
GOOG
$4.11T
| $102M | 1.89% |
+1,381,540
| New | +$105M |
|
12
Reinsurance Group of America
RGA
$15.5B
| $96.8M | 1.8% |
1,017,021
-133,884
| -12% | -$12M |
|
13
Citigroup
C
$213B
| $93M | 1.73% |
2,156,121
-108,638
| -5% | -$5.41M |
|
14
GE Aerospace
GE
$364B
| $92.4M | 1.72% |
2,976,998
-15,167
| -0.5% | -$493K |
|
15
Infosys
INFY
$51B
| $84.9M | 1.58% |
6,147,545
+1,261,096
| +26% | +$15.7M |
|
16
Vale
VALE
$62.3B
| $84.4M | 1.57% |
7,972,786
+1,385,422
| +21% | +$15.6M |
|
17
Walt Disney
DIS
$171B
| $81.8M | 1.52% |
659,594
+196,846
| +43% | +$24.6M |
|
|
18
Booking.com
BKNG
$156B
| $76M | 1.41% |
+1,110,275
| New | +$78M |
|
|
19
Las Vegas Sands
LVS
$32.2B
| $75.4M | 1.4% |
+1,615,027
| New | +$77.2M |
|
20
Wells Fargo
WFC
$254B
| $75.3M | 1.4% |
3,204,658
+1,371,274
| +75% | +$33.8M |
|
|
21
FedEx
FDX
$73B
| $73.5M | 1.37% |
292,162
-427,864
| -59% | -$85.6M |
|
22
NetEase
NTES
$83B
| $72.9M | 1.36% |
840,425
+60,925
| +8% | +$5.73M |
|
23
Oracle
ORCL
$339B
| $69.9M | 1.3% |
1,170,847
-892,365
| -43% | -$50.7M |
|
24
Jones Lang LaSalle
JLL
$15.8B
| $69.6M | 1.3% |
727,521
+137,550
| +23% | +$13.9M |
|
|
SPR
25
DELISTED
Spirit AeroSystems
SPR
| $65.7M | 1.22% |
3,474,365
+54,355
| +2% | +$1.15M |
|
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Causeway Capital Management's Q3 2020 Portfolio in Review
As of Q3 2020, Causeway Capital Management held 90 positions worth $5.37B, down 3.2% from $5.55B the previous quarter. Its ten largest holdings account for 55% of the portfolio.
Causeway Capital Management withdrew a net $801M in Q3 2020, closing 11 positions and reducing 40 holdings. Its most notable exit was Microsoft, an estimated $94.7M position sold in full.
By sector, the portfolio is most concentrated in Consumer Discretionary at 19% of assets, up from 12% a quarter earlier, followed by Technology and Communication Services.
Against the trend, Causeway Capital Management opened a new position in Alphabet (Google) Class C worth $102M.
- Causeway Capital Management's largest Q3 2020 buy was Alphabet (Google) Class C: 1,381,540 shares worth $102M.
- Causeway Capital Management added most to Alibaba in Q3 2020, an estimated $44.5M increase.
- Causeway Capital Management's biggest Q3 2020 reduction was Linde, cutting an estimated $348M.
- Causeway Capital Management fully exited Microsoft in Q3 2020, selling an estimated $94.7M.
- Causeway Capital Management's ten largest holdings make up 55% of its $5.37B portfolio in Q3 2020.
- Causeway Capital Management opened 11 new positions and closed 11 in Q3 2020.
- Causeway Capital Management's portfolio value fell 3.2% quarter-over-quarter to $5.37B.
Based on Causeway Capital Management's 13F filing for Q3 2020, filed 13 Nov 2020.