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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
+3.84%
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
$7.27B
AUM Growth
-$303M
Cap. Flow
-$619M
Cap. Flow %
-8.51%
Top 10 Hldgs %
57.9%
Holding
119
New
14
Increased
52
Reduced
38
Closed
11

Top Buys

Rank Stock Value
1
SW
Smurfit Westrock
SW
+$443M
2
ALK icon
Alaska Air
ALK
+$66.3M
3
CCL icon
Carnival Corporation Ltd
CCL
+$56.7M
4
INFY icon
Infosys
INFY
+$38M
5
BAH icon
Booz Allen Hamilton
BAH
+$35.5M

Top Sells

Rank Stock Value
1
EFA icon
iShares MSCI EAFE ETF
EFA
+$463M
2
B
Barrick Mining
B
+$360M
3
DB icon
Deutsche Bank
DB
+$124M
4
NTES icon
NetEase
NTES
+$97M
5
GOOG icon
Alphabet (Google) Class C
GOOG
+$75.1M

Sector Composition

Rank Sector Weight
1 Consumer Discretionary 30.18%
2 Industrials 17.7%
3 Financials 17.45%
4 Technology 8.57%
5 Healthcare 8.21%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
CCL icon
1
Carnival Corporation Ltd
CCL
$33.9B
$1.04B 14.26%
33,944,782
+2,032,781
+6% +$56.7M
CP icon
2
Canadian Pacific Kansas City
CP
$82.7B
$929M 12.78%
12,596,802
-926,071
-7% -$68.2M
SW
3
Smurfit Westrock
SW
$25.3B
$740M 10.18%
19,132,879
+11,609,896
+154% +$443M
DB icon
4
Deutsche Bank
DB
$75.8B
$552M 7.59%
14,194,354
-3,424,411
-19% -$124M
B
5
Barrick Mining
B
$75.1B
$264M 3.64%
6,093,395
-9,600,845
-61% -$360M
BABA icon
6
Alibaba
BABA
$296B
$176M 2.43%
1,203,049
-28,415
-2% -$4.63M
TSM icon
7
TSMC
TSM
$2.17T
$156M 2.14%
511,720
+3,969
+0.8% +$1.16M
CTSH icon
8
Cognizant
CTSH
$28.8B
$129M 1.77%
1,552,361
+202,183
+15% +$15.1M
GOOG icon
9
Alphabet (Google) Class C
GOOG
$4.19T
$116M 1.6%
370,001
-262,157
-41% -$75.1M
MRK icon
10
Merck
MRK
$366B
$110M 1.51%
1,044,617
-89,440
-8% -$8.4M
CARR icon
11
Carrier Global
CARR
$48.5B
$97.7M 1.34%
1,848,827
+382,346
+26% +$21.3M
G icon
12
Genpact
G
$6.39B
$97.5M 1.34%
2,084,209
+205,777
+11% +$8.9M
BCS icon
13
Barclays
BCS
$90.2B
$95.5M 1.31%
3,750,607
-602,342
-14% -$13.3M
AZN icon
14
AstraZeneca
AZN
$252B
$92.9M 1.28%
505,449
-28,237
-5% -$4.95M
BIIB icon
15
Biogen
BIIB
$32.3B
$91.7M 1.26%
521,101
-46,417
-8% -$7.58M
C icon
16
Citigroup
C
$223B
$81.4M 1.12%
697,445
-300,633
-30% -$31.2M
EG icon
17
Everest Group
EG
$14.5B
$81M 1.11%
238,558
+62,872
+36% +$20.8M
AXS icon
18
AXIS Capital
AXS
$7.26B
$77.2M 1.06%
721,221
-115,640
-14% -$11.5M
META icon
19
Meta Platforms (Facebook)
META
$1.47T
$72.9M 1%
110,385
+23,468
+27% +$15.7M
ALK icon
20
Alaska Air
ALK
$4.72B
$72.2M 0.99%
+1,434,517
New +$66.3M
ADI icon
21
Analog Devices
ADI
$175B
$71.3M 0.98%
263,030
-39,242
-13% -$9.86M
GFI icon
22
Gold Fields
GFI
$40.9B
$70.8M 0.97%
1,621,076
+78,061
+5% +$3.26M
BAP icon
23
Credicorp
BAP
$29.3B
$69.5M 0.96%
242,024
+26,396
+12% +$6.99M
GPK icon
24
Graphic Packaging
GPK
$3.42B
$68.2M 0.94%
4,528,554
+1,926,978
+74% +$31.7M
ZBH icon
25
Zimmer Biomet
ZBH
$19.2B
$65.5M 0.9%
728,498
+146,719
+25% +$13.9M
1
2 3 4 5

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FT
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MU
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CF
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UBP
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Causeway Capital Management's Q4 2025 Portfolio in Review

As of Q4 2025, Causeway Capital Management held 119 positions worth $7.27B, down 4% from $7.57B the previous quarter. Its ten largest holdings account for 58% of the portfolio.

Causeway Capital Management withdrew a net $619M in Q4 2025, closing 11 positions and reducing 38 holdings. Its most notable exit was NetEase, an estimated $97M position sold in full.

By sector, the portfolio is most concentrated in Consumer Discretionary at 30% of assets, up from 23% a quarter earlier, followed by Industrials and Financials.

Against the trend, Causeway Capital Management opened a new position in Alaska Air worth $72.2M.

  • Causeway Capital Management's largest Q4 2025 buy was Alaska Air: 1,434,517 shares worth $72.2M.
  • Causeway Capital Management added most to Smurfit Westrock in Q4 2025, an estimated $443M increase.
  • Causeway Capital Management's biggest Q4 2025 reduction was iShares MSCI EAFE ETF, cutting an estimated $463M.
  • Causeway Capital Management fully exited NetEase in Q4 2025, selling an estimated $97M.
  • Causeway Capital Management's ten largest holdings make up 58% of its $7.27B portfolio in Q4 2025.
  • Causeway Capital Management opened 14 new positions and closed 11 in Q4 2025.
  • Causeway Capital Management's portfolio value fell 4% quarter-over-quarter to $7.27B.

Based on Causeway Capital Management's 13F filing for Q4 2025, filed 13 Feb 2026.