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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
+5.46%
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
$3.8B
AUM Growth
-$370M
(-8.9%)
Cap. Flow
-$540M
Cap. Flow
% of AUM
-14.22%
Top 10 Holdings %
Top 10 Hldgs %
54.45%
Holding
90
New
9
Increased
32
Reduced
39
Closed
9
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
AbbVie
ABBV
|
+$49.7M |
| 2 |
Quest Diagnostics
DGX
|
+$42.5M |
| 3 |
CSX Corp
CSX
|
+$31.5M |
| 4 |
Avantor
AVTR
|
+$23M |
| 5 |
Genpact
G
|
+$21.6M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Canadian National Railway
CNI
|
+$219M |
| 2 |
Ryanair
RYAAY
|
+$175M |
| 3 |
TSMC
TSM
|
+$123M |
| 4 |
Credicorp
BAP
|
+$50.9M |
| 5 |
Banco Bradesco
BBD
|
+$33.7M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Industrials | 33.7% |
| 2 | Financials | 15.5% |
| 3 | Technology | 14.66% |
| 4 | Communication Services | 9.06% |
| 5 | Healthcare | 7.98% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
|
1
Ryanair
RYAAY
$29.5B
| $830M | 21.85% |
18,764,838
-4,342,437
| -19% | -$175M |
|
|
2
Canadian National Railway
CNI
$78.5B
| $350M | 9.21% |
2,887,742
-1,845,152
| -39% | -$219M |
|
3
UBS Group
UBS
$170B
| $180M | 4.74% |
8,903,128
-747,512
| -8% | -$15M |
|
|
4
Banco Bradesco
BBD
$38.1B
| $155M | 4.07% |
44,667,150
-10,902,527
| -20% | -$33.7M |
|
|
5
TSMC
TSM
$2.09T
| $142M | 3.75% |
1,410,503
-1,326,004
| -48% | -$123M |
|
6
Alphabet (Google) Class C
GOOG
$3.9T
| $99.4M | 2.62% |
821,434
-91,322
| -10% | -$10.6M |
|
|
FISV
7
Fiserv Inc
FISV
$27.2B
| $82.2M | 2.16% |
651,769
-33,825
| -5% | -$3.98M |
|
8
Alibaba
BABA
$269B
| $79.7M | 2.1% |
956,280
-375,816
| -28% | -$32.9M |
|
|
9
Genpact
G
$5.3B
| $75.7M | 1.99% |
2,014,599
+537,248
| +36% | +$21.6M |
|
10
Walt Disney
DIS
$165B
| $74.6M | 1.96% |
835,862
+46,803
| +6% | +$4.43M |
|
11
Citigroup
C
$222B
| $68.6M | 1.81% |
1,489,948
+70,877
| +5% | +$3.32M |
|
|
WRK
12
DELISTED
WestRock Company
WRK
| $61.4M | 1.62% |
2,111,676
-5,339
| -0.3% | -$155K |
|
13
TD Synnex
SNX
$19.4B
| $59.5M | 1.57% |
632,815
+126,959
| +25% | +$11.6M |
|
14
Pinduoduo
PDD
$118B
| $57.3M | 1.51% |
828,195
+7,277
| +0.9% | +$500K |
|
15
Meta Platforms (Facebook)
META
$1.51T
| $56.2M | 1.48% |
195,871
-126,865
| -39% | -$31.3M |
|
16
Mondelez International
MDLZ
$77.7B
| $54.4M | 1.43% |
745,574
-81,263
| -10% | -$6M |
|
|
17
Avantor
AVTR
$7.81B
| $53.1M | 1.4% |
2,584,454
+1,138,331
| +79% | +$23M |
|
18
Leidos
LDOS
$14.1B
| $49.5M | 1.3% |
558,903
+87,658
| +19% | +$7.47M |
|
19
Vipshop
VIPS
$6.84B
| $49.2M | 1.3% |
2,983,517
-84,665
| -3% | -$1.33M |
|
|
BERY
20
DELISTED
Berry Global Group, Inc.
BERY
| $48.2M | 1.27% |
815,805
-249,258
| -23% | -$13.6M |
|
|
21
AbbVie
ABBV
$458B
| $45.7M | 1.2% |
+339,060
| New | +$49.7M |
|
22
Jones Lang LaSalle
JLL
$15.1B
| $44.7M | 1.18% |
287,019
+66,780
| +30% | +$9.47M |
|
23
Tencent Music
TME
$14.5B
| $44.7M | 1.18% |
6,052,922
-308,822
| -5% | -$2.33M |
|
|
24
Quest Diagnostics
DGX
$25.1B
| $43.4M | 1.14% |
+308,493
| New | +$42.5M |
|
25
Gerdau
GGB
$9.44B
| $40.4M | 1.06% |
9,276,505
+799,908
| +9% | +$3.34M |
|
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Causeway Capital Management's Q2 2023 Portfolio in Review
As of Q2 2023, Causeway Capital Management held 90 positions worth $3.8B, down 8.9% from $4.17B the previous quarter. Its ten largest holdings account for 54% of the portfolio.
Causeway Capital Management withdrew a net $540M in Q2 2023, closing 9 positions and reducing 39 holdings. Its most notable exit was Credicorp, an estimated $50.9M position sold in full.
By sector, the portfolio is most concentrated in Industrials at 34% of assets, down from 36% a quarter earlier, followed by Financials and Technology.
Against the trend, Causeway Capital Management opened a new position in AbbVie worth $45.7M.
- Causeway Capital Management's largest Q2 2023 buy was AbbVie: 339,060 shares worth $45.7M.
- Causeway Capital Management added most to Avantor in Q2 2023, an estimated $23M increase.
- Causeway Capital Management's biggest Q2 2023 reduction was Canadian National Railway, cutting an estimated $219M.
- Causeway Capital Management fully exited Credicorp in Q2 2023, selling an estimated $50.9M.
- Causeway Capital Management's ten largest holdings make up 54% of its $3.8B portfolio in Q2 2023.
- Causeway Capital Management opened 9 new positions and closed 9 in Q2 2023.
- Causeway Capital Management's portfolio value fell 8.9% quarter-over-quarter to $3.8B.
Based on Causeway Capital Management's 13F filing for Q2 2023, filed 11 Aug 2023.