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Causeway Capital Management Portfolio holdings
AUM
$9.24B
Turnover
22.48%
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
(-4%)
Cap. Flow
-$619M
Cap. Flow
% of AUM
-8.51%
Top 10 Holdings %
Top 10 Hldgs %
57.9%
Holding
119
New
14
Increased
52
Reduced
38
Closed
11
Avg Time Held
2.8
years
Top 10 Avg Time Held
1.1
years
Top 20 Avg Time Held
1.2
years
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
Smurfit Westrock
SW
|
+$443M |
| 2 |
Alaska Air
ALK
|
+$66.3M |
| 3 |
Carnival Corporation Ltd
CCL
|
+$56.7M |
| 4 |
Infosys
INFY
|
+$38M |
| 5 |
Booz Allen Hamilton
BAH
|
+$35.5M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
iShares MSCI EAFE ETF
EFA
|
+$463M |
| 2 |
Barrick Mining
B
|
+$360M |
| 3 |
Deutsche Bank
DB
|
+$124M |
| 4 |
NetEase
NTES
|
+$97M |
| 5 |
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 | Held Since | |
|---|---|---|---|---|---|---|---|
|
1
Carnival Corporation Ltd
CCL
$35.6B
| $1.04B | 14.26% |
33,944,782
+2,032,781
| +6% | +$56.7M |
2025 Q1
3 quarters
|
|
2
Canadian Pacific Kansas City
CP
$76.4B
| $929M | 12.78% |
12,596,802
-926,071
| -7% | -$68.2M |
2023 Q3
9 quarters
|
|
|
3
Smurfit Westrock
SW
$21.6B
| $740M | 10.18% |
19,132,879
+11,609,896
| +154% | +$443M |
2024 Q3
5 quarters
|
|
|
4
Deutsche Bank
DB
$61.7B
| $552M | 7.59% |
14,194,354
-3,424,411
| -19% | -$124M |
2025 Q1
3 quarters
|
|
|
5
Barrick Mining
B
$66.7B
| $264M | 3.64% |
6,093,395
-9,600,845
| -61% | -$360M |
2024 Q4
4 quarters
|
|
6
Alibaba
BABA
$276B
| $176M | 2.43% |
1,203,049
-28,415
| -2% | -$4.63M |
2015 Q4
40 quarters
|
|
7
TSMC
TSM
$2.19T
| $156M | 2.14% |
511,720
+3,969
| +0.8% | +$1.16M |
2013 Q2
50 quarters
|
|
8
Cognizant
CTSH
$29.6B
| $129M | 1.77% |
1,552,361
+202,183
| +15% | +$15.1M |
2024 Q2
6 quarters
|
|
|
9
Alphabet (Google) Class C
GOOG
$4.22T
| $116M | 1.6% |
370,001
-262,157
| -41% | -$75.1M |
2020 Q3
21 quarters
|
|
10
Merck
MRK
$358B
| $110M | 1.51% |
1,044,617
-89,440
| -8% | -$8.4M |
2024 Q4
4 quarters
|
|
11
Carrier Global
CARR
$45.3B
| $97.7M | 1.34% |
1,848,827
+382,346
| +26% | +$21.3M |
2025 Q3
1 quarter
|
|
12
Genpact
G
$6.29B
| $97.5M | 1.34% |
2,084,209
+205,777
| +11% | +$8.9M |
2020 Q2
22 quarters
|
|
13
Barclays
BCS
$76B
| $95.5M | 1.31% |
3,750,607
-602,342
| -14% | -$13.3M |
2013 Q2
50 quarters
|
|
14
AstraZeneca
AZN
$259B
| $92.9M | 1.28% |
505,449
-28,237
| -5% | -$4.95M |
2021 Q2
18 quarters
|
|
15
Biogen
BIIB
$34.8B
| $91.7M | 1.26% |
521,101
-46,417
| -8% | -$7.58M |
2024 Q4
4 quarters
|
|
16
Citigroup
C
$207B
| $81.4M | 1.12% |
697,445
-300,633
| -30% | -$31.2M |
2013 Q2
50 quarters
|
|
17
Everest Group
EG
$14.6B
| $81M | 1.11% |
238,558
+62,872
| +36% | +$20.8M |
2025 Q3
1 quarter
|
|
18
AXIS Capital
AXS
$7.15B
| $77.2M | 1.06% |
721,221
-115,640
| -14% | -$11.5M |
2024 Q3
5 quarters
|
|
19
Meta Platforms (Facebook)
META
$1.88T
| $72.9M | 1% |
110,385
+23,468
| +27% | +$15.7M |
2021 Q2
18 quarters
|
|
|
20
Alaska Air
ALK
$4.07B
| $72.2M | 0.99% |
+1,434,517
| New | +$66.3M |
2025 Q4
0 quarters
|
|
21
Analog Devices
ADI
$196B
| $71.3M | 0.98% |
263,030
-39,242
| -13% | -$9.86M |
2023 Q4
8 quarters
|
|
22
Gold Fields
GFI
$33B
| $70.8M | 0.97% |
1,621,076
+78,061
| +5% | +$3.26M |
2025 Q2
2 quarters
|
|
23
Credicorp
BAP
$30.8B
| $69.5M | 0.96% |
242,024
+26,396
| +12% | +$6.99M |
2024 Q2
6 quarters
|
|
24
Graphic Packaging
GPK
$2.58B
| $68.2M | 0.94% |
4,528,554
+1,926,978
| +74% | +$31.7M |
2025 Q2
2 quarters
|
|
25
Zimmer Biomet
ZBH
$18B
| $65.5M | 0.9% |
728,498
+146,719
| +25% | +$13.9M |
2021 Q4
16 quarters
|
|
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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.