# CAUSEWAY CAPITAL MANAGEMENT LLC

> Institutional holdings reported to the SEC as of Q2 2026 on Form 13F. CIK 1165797. Source: https://holderbook.com/funds/1165797-causeway-capital-management-llc/

- Reported value: $9.2B
- Positions: 122
- Weight of the ten largest: 65.3%
- Filed: 2026-08-13

A 13F reports long US equity positions only. Short positions, bonds, foreign listings, private holdings and cash are not visible, so this is not the manager's whole book.

## Holdings

| Security | Ticker | Value | Shares | Weight | Quarters held |
|---|---|---|---|---|---|
| ASTRAZENECA PLC | [AZN](https://holderbook.com/stocks/AZN/) | $1.8B | 9,357,390 | 19.0% | 2 |
| CARNIVAL CORP LTD | [CCL](https://holderbook.com/stocks/CCL/) | $1.2B | 41,190,606 | 12.7% | 1 |
| DEUTSCHE BK AG | [DB](https://holderbook.com/stocks/DB/) | $994.2M | 29,358,318 | 10.8% | 6 |
| SMURFIT WESTROCK PLC | [SW](https://holderbook.com/stocks/SW/) | $695.7M | 15,039,041 | 7.5% | 8 |
| CANADIAN PACIFIC KANSAS CITY | [CP](https://holderbook.com/stocks/CP/) | $581.7M | 6,711,483 | 6.3% | 12 |
| TAIWAN SEMICONDUCTOR MANUFAC | [TSM](https://holderbook.com/stocks/TSM/) | $254.1M | 532,052 | 2.8% | 31 |
| ALASKA AIR GROUP INC | [ALK](https://holderbook.com/stocks/ALK/) | $166.2M | 3,183,163 | 1.8% | 3 |
| CARRIER GLOBAL CORPORATION | [CARR](https://holderbook.com/stocks/CARR/) | $159.8M | 2,178,506 | 1.7% | 4 |
| LIVE NATION ENTERTAINMENT IN | [LYV](https://holderbook.com/stocks/LYV/) | $129.3M | 706,301 | 1.4% | 8 |
| MERCK & CO INC | [MRK](https://holderbook.com/stocks/MRK/) | $122.7M | 954,932 | 1.3% | 7 |
| META PLATFORMS INC | [META](https://holderbook.com/stocks/META/) | $113.5M | 201,459 | 1.2% | 21 |
| ALPHABET INC | [GOOG](https://holderbook.com/stocks/GOOG/) | $111.7M | 316,217 | 1.2% | 24 |
| BARCLAYS PLC | [BCS](https://holderbook.com/stocks/BCS/) | $106.8M | 3,975,718 | 1.2% | 31 |
| CREDICORP LTD | [BAP](https://holderbook.com/stocks/BAP/) | $99.5M | 255,436 | 1.1% | 9 |
| SAP SE | [SAP](https://holderbook.com/stocks/SAP/) | $97.1M | 629,801 | 1.1% | 30 |
| ALIBABA GROUP HLDG LTD | [BABA](https://holderbook.com/stocks/BABA/) | $95.5M | 995,040 | 1.0% | 31 |
| AXIS CAP HLDGS LTD | [AXS](https://holderbook.com/stocks/AXS/) | $92.4M | 859,727 | 1.0% | 8 |
| EVEREST GROUP LTD | [EG](https://holderbook.com/stocks/EG/) | $90.3M | 252,702 | 1.0% | 4 |
| INGERSOLL RAND INC | [IR](https://holderbook.com/stocks/IR/) | $84.8M | 1,033,693 | 0.9% | 5 |
| KONINKLIJKE PHILIPS N V | [PHG](https://holderbook.com/stocks/PHG/) | $83.3M | 3,061,962 | 0.9% | 18 |
| NOVO-NORDISK A S | [NVO](https://holderbook.com/stocks/NVO/) | $80.4M | 1,677,615 | 0.9% | 5 |
| JONES LANG LASALLE INC | [JLL](https://holderbook.com/stocks/JLL/) | $76.9M | 248,252 | 0.8% | 17 |
| CITIZENS FINL GROUP INC | [CFG](https://holderbook.com/stocks/CFG/) | $75.5M | 1,077,093 | 0.8% | 13 |
| NETEASE COM INC | [NTES](https://holderbook.com/stocks/NTES/) | $73.3M | 572,412 | 0.8% | 1 |
| DIAGEO PLC | [DEO](https://holderbook.com/stocks/DEO/) | $72.3M | 899,015 | 0.8% | 14 |
| ZIMMER BIOMET HOLDINGS INC | [ZBH](https://holderbook.com/stocks/ZBH/) | $67.9M | 788,810 | 0.7% | 19 |
| BOEING CO | [BA](https://holderbook.com/stocks/BA/) | $67.8M | 313,048 | 0.7% | 3 |
| CITIGROUP INC | [C](https://holderbook.com/stocks/C/) | $64.2M | 458,858 | 0.7% | 31 |
| NATWEST GROUP PLC | [NWG](https://holderbook.com/stocks/NWG/) | $61.5M | 3,487,290 | 0.7% | 12 |
| BIOGEN INC | [BIIB](https://holderbook.com/stocks/BIIB/) | $60.1M | 278,283 | 0.7% | 7 |
| GOLD FIELDS LTD | [GFI](https://holderbook.com/stocks/GFI/) | $57.5M | 1,713,233 | 0.6% | 5 |
| ANALOG DEVICES INC | [ADI](https://holderbook.com/stocks/ADI/) | $56.4M | 142,050 | 0.6% | 11 |
| RELX PLC | [RELX](https://holderbook.com/stocks/RELX/) | $55.8M | 1,762,329 | 0.6% | 22 |
| ANGLOGOLD ASHANTI PLC | [AU](https://holderbook.com/stocks/AU/) | $55.7M | 688,027 | 0.6% | 7 |
| ING GROEP N.V. | [ING](https://holderbook.com/stocks/ING/) | $53.1M | 1,690,687 | 0.6% | 31 |
| BOOZ ALLEN HAMILTON HLDG COR | [BAH](https://holderbook.com/stocks/BAH/) | $51.6M | 849,966 | 0.6% | 3 |
| TEXAS INSTRS INC | [TXN](https://holderbook.com/stocks/TXN/) | $49.6M | 166,496 | 0.5% | 2 |
| NATIONAL GRID PLC | [NGG](https://holderbook.com/stocks/NGG/) | $48.9M | 590,240 | 0.5% | 5 |
| DTE ENERGY CO | [DTE](https://holderbook.com/stocks/DTE/) | $48.8M | 320,526 | 0.5% | 2 |
| PFIZER INC | [PFE](https://holderbook.com/stocks/PFE/) | $46.2M | 1,916,801 | 0.5% | 9 |
| PETROLEO BRASILEIRO S A | [PBRA](https://holderbook.com/stocks/PBRA/) | $45.3M | 3,096,624 | 0.5% | 2 |
| PRUDENTIAL PLC | [PUK](https://holderbook.com/stocks/PUK/) | $45.3M | 1,689,218 | 0.5% | 31 |
| SMITH & NEPHEW PLC | [SNN](https://holderbook.com/stocks/SNN/) | $45.1M | 1,565,167 | 0.5% | 7 |
| TAL ED GROUP | [TAL](https://holderbook.com/stocks/TAL/) | $39.5M | 4,125,430 | 0.4% | 2 |
| ISHARES TR | [SMIN](https://holderbook.com/stocks/SMIN/) | $38.4M | 542,849 | 0.4% | 12 |
| UNITEDHEALTH GROUP INC | [UNH](https://holderbook.com/stocks/UNH/) | $36.3M | 87,447 | 0.4% | 2 |
| DISNEY WALT CO | [DIS](https://holderbook.com/stocks/DIS/) | $34.7M | 360,600 | 0.4% | 26 |
| SANOFI SA | [SNY](https://holderbook.com/stocks/SNY/) | $34.3M | 804,056 | 0.4% | 25 |
| BRITISH AMERN TOB PLC | [BTI](https://holderbook.com/stocks/BTI/) | $33.8M | 547,925 | 0.4% | 31 |
| SUMITOMO MITSUI FIN GRP INC | [SMFG](https://holderbook.com/stocks/SMFG/) | $32.8M | 1,392,610 | 0.4% | 5 |
| VISTA ENERGY S.A.B. DE C.V. | [VIST](https://holderbook.com/stocks/VIST/) | $32.0M | 501,275 | 0.3% | 2 |
| ISHARES TR | [INDA](https://holderbook.com/stocks/INDA/) | $31.0M | 628,500 | 0.3% | 29 |
| BOSTON SCIENTIFIC CORP | [BSX](https://holderbook.com/stocks/BSX/) | $30.7M | 720,339 | 0.3% | 1 |
| JD.COM INC | [JD](https://holderbook.com/stocks/JD/) | $30.6M | 1,199,207 | 0.3% | 1 |
| VANGUARD TAX-MANAGED FDS | [VEA](https://holderbook.com/stocks/VEA/) | $30.4M | 427,314 | 0.3% | 17 |
| GERDAU SA | [GGB](https://holderbook.com/stocks/GGB/) | $29.2M | 7,229,538 | 0.3% | 14 |
| ANHEUSER BUSCH INBEV SA/NV | [BUD](https://holderbook.com/stocks/BUD/) | $28.6M | 347,657 | 0.3% | 16 |
| PAGSEGURO DIGITAL LTD | [PAGS](https://holderbook.com/stocks/PAGS/) | $28.3M | 3,130,268 | 0.3% | 5 |
| BXP INC | [BXP](https://holderbook.com/stocks/BXP/) | $25.1M | 378,480 | 0.3% | 5 |
| H WORLD GROUP LTD | [HTHT](https://holderbook.com/stocks/HTHT/) | $23.8M | 570,437 | 0.3% | 1 |
| OCEANAGOLD CORP | [OGC](https://holderbook.com/stocks/OGC/) | $22.8M | 911,012 | 0.2% | 1 |
| CENTERRA GOLD INC | [CGAU](https://holderbook.com/stocks/CGAU/) | $20.4M | 1,285,398 | 0.2% | 5 |
| GENPACT LIMITED | [G](https://holderbook.com/stocks/G/) | $19.5M | 710,380 | 0.2% | 25 |
| COGNIZANT TECHNOLOGY SOLUTIO | [CTSH](https://holderbook.com/stocks/CTSH/) | $19.2M | 494,846 | 0.2% | 9 |
| ZIM INTEGRATED SHIPPING SERV | [ZIM](https://holderbook.com/stocks/ZIM/) | $18.1M | 694,474 | 0.2% | 8 |
| FORTUNA MNG CORP | [FSM](https://holderbook.com/stocks/FSM/) | $17.6M | 2,086,645 | 0.2% | 4 |
| WEIBO CORP | [WB](https://holderbook.com/stocks/WB/) | $16.8M | 2,317,577 | 0.2% | 10 |
| ARCOS DORADOS HLDGS INC | [ARCO](https://holderbook.com/stocks/ARCO/) | $15.8M | 1,961,513 | 0.2% | 1 |
| ICICI BANK LIMITED | [IBN](https://holderbook.com/stocks/IBN/) | $13.0M | 447,935 | 0.1% | 31 |
| VANGUARD INTL EQUITY INDEX F | [VSS](https://holderbook.com/stocks/VSS/) | $12.5M | 80,907 | 0.1% | 15 |
| TORONTO DOMINION BK ONT | [TD](https://holderbook.com/stocks/TD/) | $11.8M | 97,238 | 0.1% | 1 |
| FINVOLUTION GROUP | [FINV](https://holderbook.com/stocks/FINV/) | $10.9M | 2,285,880 | 0.1% | 15 |
| GRUPO CIBEST SA | [CIB](https://holderbook.com/stocks/CIB/) | $10.9M | 136,620 | 0.1% | 2 |
| HDFC BANK LTD | [HDB](https://holderbook.com/stocks/HDB/) | $10.2M | 395,855 | 0.1% | 31 |
| CANADIAN IMPERIAL BANK OF CO | [CM](https://holderbook.com/stocks/CM/) | $9.6M | 83,789 | 0.1% | 1 |
| BW LPG LTD | [BWLP](https://holderbook.com/stocks/BWLP/) | $8.0M | 457,050 | 0.1% | 2 |
| SUNCOR ENERGY INC NEW | [SU](https://holderbook.com/stocks/SU/) | $7.4M | 138,526 | 0.1% | 1 |
| JOYY INC | [JOYY](https://holderbook.com/stocks/JOYY/) | $7.2M | 109,297 | 0.1% | 6 |
| CELESTICA INC | [CLS](https://holderbook.com/stocks/CLS/) | $7.1M | 19,598 | 0.1% | 6 |
| ISHARES TR | [KSA](https://holderbook.com/stocks/KSA/) | $6.6M | 177,079 | 0.1% | 2 |
| MILLICOM INTL CELLULAR S A | [TIGO](https://holderbook.com/stocks/TIGO/) | $6.0M | 65,932 | 0.1% | 4 |
| INFOSYS LTD | [INFY](https://holderbook.com/stocks/INFY/) | $5.5M | 526,963 | 0.1% | 31 |
| ISHARES TR | [EEM](https://holderbook.com/stocks/EEM/) | $5.1M | 74,974 | 0.1% | 1 |
| ISHARES INC | [EWT](https://holderbook.com/stocks/EWT/) | $4.9M | 45,108 | 0.1% | 4 |
| HAFNIA LTD | [HAFN](https://holderbook.com/stocks/HAFN/) | $4.6M | 697,424 | 0.0% | 2 |
| STANTEC INC | [STN](https://holderbook.com/stocks/STN/) | $3.9M | 56,200 | 0.0% | 1 |
| GLOBAL E ONLINE LTD | [GLBE](https://holderbook.com/stocks/GLBE/) | $3.5M | 102,195 | 0.0% | 1 |
| MAKEMYTRIP LIMITED MAURITIUS | [MMYT](https://holderbook.com/stocks/MMYT/) | $3.4M | 64,145 | 0.0% | 15 |
| MAGNA INTL INC | [MGA](https://holderbook.com/stocks/MGA/) | $3.0M | 45,900 | 0.0% | 1 |
| IAMGOLD CORP | [IAG](https://holderbook.com/stocks/IAG/) | $2.7M | 172,916 | 0.0% | 1 |
| ISHARES TR | [EFA](https://holderbook.com/stocks/EFA/) | $2.2M | 20,761 | 0.0% | 10 |
| VANGUARD INTL EQUITY INDEX F | [VWO](https://holderbook.com/stocks/VWO/) | $2.1M | 35,556 | 0.0% | 3 |
| BP PLC | [BP](https://holderbook.com/stocks/BP/) | $1.7M | 46,059 | 0.0% | 31 |
| ARCELORMITTAL SA LUXEMBOURG | [MT](https://holderbook.com/stocks/MT/) | $1.3M | 22,155 | 0.0% | 9 |
| VANGUARD INTL EQUITY INDEX F | [VEU](https://holderbook.com/stocks/VEU/) | $1.3M | 15,389 | 0.0% | 11 |
| ITURAN LOCATION AND CONTROL | [ITRN](https://holderbook.com/stocks/ITRN/) | $1.2M | 20,439 | 0.0% | 4 |
| ISHARES TR | [ACWI](https://holderbook.com/stocks/ACWI/) | $1.2M | 7,691 | 0.0% | 12 |
| WIPRO LTD | [WIT](https://holderbook.com/stocks/WIT/) | $1.0M | 448,957 | 0.0% | 10 |
| OPEN TEXT CORP | [OTEX](https://holderbook.com/stocks/OTEX/) | $807.6K | 36,500 | 0.0% | 1 |
| CANADIAN NAT RES LTD MED TER | [CNQ](https://holderbook.com/stocks/CNQ/) | $727.8K | 18,400 | 0.0% | 1 |

## What the disclosed book did

Not the fund's return. This is the change in value of the positions disclosed on Form 13F, had they been left untouched, against SPY over the same quarter ends.

| Quarter | Book | Market | Difference | Priced |
|---|---|---|---|---|
| Q2 2026 | +6.0% | +14.8% | -8.8% | 101% |
| Q1 2026 | -5.4% | -4.6% | -0.7% | 100% |
| Q4 2025 | +4.5% | +2.4% | +2.1% | 100% |
| Q3 2025 | +9.5% | +7.8% | +1.7% | 100% |
| Q2 2025 | +12.3% | +10.5% | +1.8% | 100% |
| Q1 2025 | +4.2% | -4.6% | +8.7% | 100% |
| Q4 2024 | -4.8% | +2.1% | -6.9% | 100% |
| Q3 2024 | +8.5% | +5.4% | +3.1% | 100% |

## Quarter by quarter

| Quarter | Value | Positions |
|---|---|---|
| Q2 2026 | $9.2B | 122 |
| Q1 2026 | $8.1B | 107 |
| Q4 2025 | $7.3B | 108 |
| Q3 2025 | $7.6B | 105 |
| Q2 2025 | $6.3B | 99 |
| Q1 2025 | $4.8B | 90 |
| Q4 2024 | $4.4B | 107 |
| Q3 2024 | $4.1B | 97 |
| Q2 2024 | $3.7B | 90 |
| Q1 2024 | $3.8B | 89 |
| Q4 2023 | $3.9B | 89 |
| Q3 2023 | $3.8B | 89 |