CC
Causeway Capital Management LLC 13F Disclosure (Q2 2026) — Portfolio & Holdings
Causeway Capital Management LLCCIK: 0001165797
Diversified strategyMomentum followerQuality / disciplined sizing
Total reported value
$9.2B
Reporting period: 2026-06-30 · Number of holdings: 122
CAUSEWAY CAPITAL MANAGEMENT LLC disclosed 122 holdings in its latest 13F filing for the period ending 2026-06-30, with total reported value of $9.2B and a quarterly turnover rate of 52.3%.
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Personality snowflake
- Concentration
- 31.02
- Portfolio Stability
- 52.32
- Momentum
- 100
- Sector conviction
- 58.07
- Diversification
- 100
- Sizing Uniformity
- 70.79
Causeway Capital Management LLC's disclosed holdings carry a Herfindahl concentration index of 0.078 — mathematically equivalent to about 13 equally-sized positions, well below its 122 actual disclosed holdings. That gap points to a strategy built around a small core of high-conviction bets rather than broad diversification.
Position sizes vary widely across the portfolio (a coefficient of variation of 2.92), with a handful of outsized bets alongside many smaller positions.
No strong tilt toward either adding to existing winners or initiating outsized new positions was observed in the latest reported quarter.
Source and citation information
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Recent moves
View source Form 13F filing on SEC.govNew buy G2004J103
Sold out CCL1EUR
Trim CP
-23.7% -$108.2M
Add DB
+17.6% $270.8M
Add AZN
+26.1% $313.3M
Trim CTSH
-67.1% -$73.1M
Holdings Map
New buyAddUnchangedTrim
Top 10 holdings by weight
Full holdings list this quarter
| # | Ticker | Issuer | Asset Subclass | Weight | Weight Change | Shares Change | 4Q Trend |
|---|---|---|---|---|---|---|---|
| 1 | AZN | AstraZeneca PLC | Stock-Healthcare | 18.97% | +1.31% | +26.08% | |
| 2 | ✓ | Carnival CORP LTD F | Stock-Other | 12.74% | +12.74% | NEW | |
| 3 | DB | Deutsche Bank Aktiengesellschaft | Stock-Financials | 10.77% | +1.88% | +17.61% | |
| 4 | SW | Smurfit Westrock Plc | Stock-Consumer Disc | 7.53% | -0.08% | -3.39% | |
| 5 | CP | Canadian Pacific Kansas City | Stock-Industrials | 6.30% | -2.17% | -23.67% | |
| 6 | TSM | Taiwan Semiconductor-sp Adr | Stock-Tech | 2.75% | +0.64% | +4.64% | |
| 7 | ALK | Alaska Air Group Inc | Stock-Industrials | 1.80% | +0.67% | +27.21% | |
| 8 | CARR | Carrier Global CORP | Stock-Industrials | 1.73% | +0.28% | +3.60% | |
| 9 | LYV | Live Nation Entertainment In | Stock-Comm Services | 1.40% | +0.41% | +34.17% | |
| 10 | MRK | Merck & Co. Inc. | Stock-Healthcare | 1.33% | +0.07% | +11.79% | |
| 11 | META | Meta Platforms Inc-class A | Stock-Comm Services | 1.23% | +0.21% | +39.13% | |
| 12 | GOOG | Alphabet Inc-cl C | Stock-Comm Services | 1.21% | +0.02% | -6.25% | |
| 13 | BCS | Barclays Plc-spons Adr | Stock-Financials | 1.16% | +0.10% | -2.41% | |
| 14 | BAP | Credicorp Ltd. | Stock-Financials | 1.08% | +0.06% | +4.21% | |
| 15 | SAP | Sap Se-sponsored Adr | Stock-Tech | 1.05% | +0.09% | +38.11% | |
| 16 | BABA | Alibaba Group Holding-sp Adr | Stock-Consumer Disc | 1.03% | -0.62% | -6.91% | |
| 17 | AXS | AXIS Capital Holdings Limited | Stock-Financials | 1.00% | -0.02% | +5.39% | |
| 18 | EG | Everest Group, Ltd. | Stock-Financials | 0.98% | -0.02% | +1.08% | |
| 19 | IR | Ingersoll-rand Inc | Stock-Industrials | 0.92% | +0.30% | +65.11% | |
| 20 | PHG | Koninklijke Philips Nvr- Ny | Stock-Healthcare | 0.90% | +0.07% | +24.66% | |
| 21 | NVO | Novo-nordisk A/s-spons Adr | Stock-Healthcare | 0.87% | +0.34% | +42.87% | |
| 22 | JLL | Jones Lang Lasalle Inc | Stock-Real Estate | 0.83% | +0.13% | +33.27% | |
| 23 | CFG | Citizens Financial Group | Stock-Financials | 0.82% | +0.05% | +2.72% | |
| 24 | NTES | Netease Inc-adr | Stock-Comm Services | 0.79% | +0.79% | NEW | |
| 25 | DEO | Diageo Plc-sponsored Adr | Stock-Consumer Staples | 0.78% | +0.17% | +34.92% | |
| 26 | ZBH | Zimmer Biomet Holdings Inc | Stock-Healthcare | 0.74% | -0.16% | -2.39% | |
| 27 | BA | Boeing Co/the | Stock-Industrials | 0.73% | -0.04% | -0.28% | |
| 28 | C | Citigroup Inc | Stock-Financials | 0.70% | -0.18% | -27.73% | |
| 29 | NWG | Natwest Group PLC -spon Adr | Stock-Financials | 0.67% | +0.12% | +16.70% | |
| 30 | BIIB | Biogen Inc | Stock-Healthcare | 0.65% | +0.02% | -0.89% | |
| 31 | GFI | Gold Fields Ltd-spons Adr | Stock-Materials | 0.62% | -0.29% | +4.84% | |
| 32 | ADI | Analog Devices Inc | Stock-Tech | 0.61% | -0.18% | -29.62% | |
| 33 | RELX | Relx PLC - Spon Adr | Stock-Industrials | 0.60% | -0.34% | -23.59% | |
| 34 | AU | AngloGold Ashanti plc | Stock-Materials | 0.60% | -0.46% | -23.45% | |
| 35 | ING | Ing Groep N.v.-sponsored Adr | Stock-Financials | 0.57% | +0.08% | +9.95% | |
| 36 | BAH | Booz Allen Hamilton Holdings | Stock-Industrials | 0.56% | -0.26% | -0.87% | |
| 37 | TXN | Texas Instruments Inc | Stock-Tech | 0.54% | +0.05% | -19.26% | |
| 38 | NGG | National Grid Plc-sp Adr | Stock-Utilities | 0.53% | -0.03% | +9.56% | |
| 39 | DTE | Dte Energy Company | Stock-Utilities | 0.53% | -0.05% | -0.46% | |
| 40 | PFE | Pfizer Inc | Stock-Healthcare | 0.50% | -0.16% | +0.13% | |
| 41 | PBR-A | Petroleo Brasil-sp Pref Adr | Stock-Other | 0.49% | +0.15% | +107.04% | |
| 42 | PUK | Prudential Plc-adr | Stock-Other | 0.49% | +0.03% | +27.86% | |
| 43 | SNN | Smith & Nephew PLC -spon Adr | Stock-Other | 0.49% | +0.12% | +64.21% | |
| 44 | TAL | Tal Education Group- Adr | Stock-Consumer Staples | 0.43% | -0.06% | +18.60% | |
| 45 | SMIN | Ishares Msci India Small-cap | ETF-Other | 0.42% | +0.07% | +15.09% | |
| 46 | UNH | Unitedhealth Group Inc | Stock-Healthcare | 0.39% | +0.15% | +21.68% | |
| 47 | DIS | Walt Disney Co/the | Stock-Comm Services | 0.38% | -0.28% | -35.59% | |
| 48 | SNY | Sanofi-adr | Stock-Healthcare | 0.37% | -0.26% | -24.47% | |
| 49 | BTI | British American Tob-sp Adr | Stock-Consumer Staples | 0.37% | +0.01% | +9.40% | |
| 50 | SMFG | Sumitomo Mitsui-spons Adr | Stock-Financials | 0.36% | +0.05% | +9.89% |
1–50 of 122
Portfolio Performance
Performance for Q3 2026
+4.9%
Performance Last 4 Quarters
+18%
Based on 88% of reported portfolio value with available pricing
- Stdev
- +15.1%
- Beta
- +0.87
- Alpha
- +0.3%
- Max Drawdown
- -10.9%
- Annualized Perf
- +17.8%
- Batting Avg vs S&P
- +58.3%
- Sortino
- +2.08
- Stutzer
- +0.34
- Treynor
- +0.2
- Sterling
- +1.06
- Calmar
- +1.64
- Information Ratio
- -0.23
- Tracking Error
- +10.3%
- Stdev Down
- +8.5%
- Winning Months %
- +66.7%
- Losing Months %
- +33.3%
- Best 12 Months
- +31.1%
- Worst 12 Months
- +5.6%
- Efficiency Ratio
- +0.48
- Sharpe
- +1.16
- Stdev Sectors
- +9.7%
- Skewness
- -0.19
- Kurtosis
- +1.1
- Upside Potential
- +3.66
Reported value over time
Sector allocation
Sector allocation over time
Quarterly history
| Period | Holdings | Total value | Stability | Top holdings | |
|---|---|---|---|---|---|
| 2026 Q2 | 122 | $9.2B | 52 | ||
| 2026 Q1 | 107 | $8.1B | 47 | ||
| 2025 Q4 | 108 | $7.3B | 35 | ||
| 2025 Q3 | 105 | $7.6B | 64 | ||
| 2025 Q2 | 99 | $6.3B | 0 | ||
| 2025 Q1 | 90 | $4.8B | 100 | ||
| 2024 Q4 | 107 | $4.4B | 0 | ||
| 2024 Q3 | 97 | $4.1B | 0 | ||
| 2024 Q2 | 90 | $3.7B | 0 | ||
| 2024 Q1 | 89 | $3.8B | 0 | ||
| 2023 Q4 | 89 | $3.9B | 0 | ||
| 2023 Q3 | 89 | $3.8B | 0 | ||
| 2023 Q2 | 81 | $3.8B | 0 | ||
| 2023 Q1 | 81 | $4.2B | 0 | ||
| 2022 Q4 | 83 | $3.4B | 0 | ||
| 2022 Q3 | 81 | $3.6B | 0 | ||
| 2022 Q2 | 80 | $4.0B | 0 | ||
| 2022 Q1 | 75 | $4.2B | 0 | ||
| 2021 Q4 | 82 | $4.5B | 0 | ||
| 2021 Q3 | 81 | $4.4B | 0 | ||
| 2021 Q2 | 78 | $4.9B | 100 | ||
| 2021 Q1 | 82 | $5.1B | 34 | ||
| 2020 Q4 | 80 | $5.3B | 38 | ||
| 2020 Q3 | 79 | $5.4B | 42 | ||
| 2020 Q2 | 79 | $5.6B | 31 | ||
| 2020 Q1 | 85 | $6.3B | 61 | ||
| 2019 Q4 | 87 | $9.3B | 36 | ||
| 2019 Q3 | 86 | $8.4B | 19 | ||
| 2019 Q2 | 87 | $9.1B | 23 | ||
| 2019 Q1 | 89 | $9.9B | 42 | ||
| 2018 Q4 | 90 | $8.4B | 33 | ||
| 2018 Q3 | 88 | $10.0B | 17 | ||
| 2018 Q2 | 95 | $9.9B | 24 | ||
| 2018 Q1 | 88 | $9.3B | 26 | ||
| 2017 Q4 | 92 | $9.4B | 13 | ||
| 2017 Q3 | 88 | $8.9B | 20 | ||
| 2017 Q2 | 83 | $8.1B | 20 | ||
| 2017 Q1 | 81 | $7.4B | 46 | ||
| 2016 Q4 | 85 | $5.7B | 27 | ||
| 2016 Q3 | 82 | $5.4B | 43 | ||
| 2016 Q2 | 73 | $4.7B | 40 | ||
| 2016 Q1 | 74 | $4.3B | 25 | ||
| 2015 Q4 | 77 | $4.7B | 25 | ||
| 2015 Q3 | 86 | $5.0B | 36 | ||
| 2015 Q2 | 81 | $4.0B | 26 | ||
| 2015 Q1 | 82 | $3.8B | 32 | ||
| 2014 Q4 | 79 | $3.5B | 34 | ||
| 2014 Q3 | 74 | $2.9B | 37 | ||
| 2014 Q2 | 75 | $2.5B | 34 | ||
| 2014 Q1 | 74 | $2.2B | 34 | ||
| 2013 Q4 | 72 | $1.8B | 69 | ||
| 2013 Q3 | 69 | $1.2B | 54 | ||
| 2013 Q2 | 66 | $947.9M | 0 |
Holding changes this quarter
Causeway Capital Management LLC's most significant position changes for 2026-06-30: New buy: Carnival CORP LTD F; Sold out: Carnival CORP LTD (CCL1EUR); New buy: Netease Inc-adr (NTES); Sold out: Whirlpool CORP (WHR); Sold out: Aptiv PLC (APTV).
| # | Ticker | Issuer | Weight Change | Shares Change | Action |
|---|---|---|---|---|---|
| 1 | ✓ | Carnival CORP LTD F | +12.7% | NEW | New buy |
| 2 | DB | Deutsche Bank Aktiengesellschaft | +1.9% | +17.61% | Add |
| 3 | AZN | AstraZeneca PLC | +1.3% | +26.08% | Add |
| 4 | NTES | Netease Inc-adr | +0.8% | NEW | New buy |
| 5 | ALK | Alaska Air Group Inc | +0.7% | +27.21% | Add |
| 6 | TSM | Taiwan Semiconductor-sp Adr | +0.6% | +4.64% | Add |
| 7 | LYV | Live Nation Entertainment In | +0.4% | +34.17% | Add |
| 8 | NVO | Novo-nordisk A/s-spons Adr | +0.3% | +42.87% | Add |
| 9 | BSX | Boston Scientific CORP | +0.3% | NEW | New buy |
| 10 | JD | Jd.com Inc-adr | +0.3% | NEW | New buy |
| 11 | IR | Ingersoll-rand Inc | +0.3% | +65.11% | Add |
| 12 | CARR | Carrier Global CORP | +0.3% | +3.60% | Add |
| 13 | HTHT | H World Group Ltd-adr | +0.3% | NEW | New buy |
| 14 | OGC | Oceanagold CORP | +0.3% | NEW | New buy |
| 15 | META | Meta Platforms Inc-class A | +0.2% | +39.13% | Add |
| 16 | DEO | Diageo Plc-sponsored Adr | +0.2% | +34.92% | Add |
| 17 | ARCO | Arcos Dorados Holdings Inc. | +0.2% | NEW | New buy |
| 18 | PBR-A | Petroleo Brasil-sp Pref Adr | +0.2% | +107.04% | Add |
| 19 | UNH | Unitedhealth Group Inc | +0.2% | +21.68% | Add |
| 20 | VIST | Vista Energy Sab De Cv | +0.2% | +126.91% | Add |
| 21 | JLL | Jones Lang Lasalle Inc | +0.1% | +33.27% | Add |
| 22 | TD | Toronto-dominion Bank | +0.1% | NEW | New buy |
| 23 | NWG | Natwest Group PLC -spon Adr | +0.1% | +16.70% | Add |
| 24 | SNN | Smith & Nephew PLC -spon Adr | +0.1% | +64.21% | Add |
| 25 | BCS | Barclays Plc-spons Adr | +0.1% | -2.41% | Trim |
| 26 | CM | Can Imperial Bk Of Commerce | +0.1% | NEW | New buy |
| 27 | SAP | Sap Se-sponsored Adr | +0.1% | +38.11% | Add |
| 28 | BWLP | BW LPG Limited | +0.1% | +2889.01% | Add |
| 29 | ING | Ing Groep N.v.-sponsored Adr | +0.1% | +9.95% | Add |
| 30 | INDA | Ishares Msci India ETF | +0.1% | +36.87% | Add |
| 31 | SU | Suncor Energy Inc | +0.1% | NEW | New buy |
| 32 | MRK | Merck & Co. Inc. | +0.1% | +11.79% | Add |
| 33 | PHG | Koninklijke Philips Nvr- Ny | +0.1% | +24.66% | Add |
| 34 | SMIN | Ishares Msci India Small-cap | +0.1% | +15.09% | Add |
| 35 | BAP | Credicorp Ltd. | +0.1% | +4.21% | Add |
| 36 | EEM | Ishares Msci Emerging Market | +0.1% | NEW | New buy |
| 37 | CFG | Citizens Financial Group | +0.1% | +2.72% | Add |
| 38 | TXN | Texas Instruments Inc | +0.1% | -19.26% | Trim |
| 39 | SMFG | Sumitomo Mitsui-spons Adr | +0.1% | +9.89% | Add |
| 40 | FSM | Fortuna Mining CORP | 0% | +66.79% | Add |
| 41 | KSA | Ishrs Msci Saudi Arabia ETF | 0% | +234.76% | Add |
| 42 | HAFN | Hafnia Limited | 0% | +1182.81% | Add |
| 43 | STN | Stantec Inc | 0% | NEW | New buy |
| 44 | GLBE | Global-E Online Ltd. | 0% | NEW | New buy |
| 45 | PUK | Prudential Plc-adr | 0% | +27.86% | Add |
| 46 | BXP | Bxp Inc | 0% | -0.60% | Trim |
| 47 | MGA | Magna International Inc | 0% | NEW | New buy |
| 48 | IAG | Iamgold CORP | 0% | NEW | New buy |
| 49 | GOOG | Alphabet Inc-cl C | 0% | -6.25% | Trim |
| 50 | BIIB | Biogen Inc | 0% | -0.89% | Trim |
1–50 of 130
Filing History
FAQ
What is Causeway Capital Management LLC and what type of investor is it?
Causeway Capital Management LLC is an investment manager that files SEC Form 13F quarterly, disclosing its U.S. public equity holdings to regulators. As of the most recent reporting period (2026-06-30), the firm manages a tracked equity portfolio valued at approximately $9.2B, spread across 122 disclosed positions.
What are Causeway Capital Management LLC's largest equity positions?
Based on the latest 13F filing, Causeway Capital Management LLC's top holdings by market value are:
1. AstraZeneca PLC (AZN) — $1.8B (19.0%)
2. Carnival CORP LTD F — $1.2B (12.7%)
3. Deutsche Bank Aktiengesellschaft (DB) — $994.2M (10.8%)
4. Smurfit Westrock Plc (SW) — $695.7M (7.5%)
5. Canadian Pacific Kansas City (CP) — $581.7M (6.3%)
What changes did Causeway Capital Management LLC make in its most recent portfolio filing?
In the latest reported quarter, Causeway Capital Management LLC made 125 notable position adjustments: 23 new positions were initiated, 48 existing holdings were added to, 46 positions were partially reduced, and 8 were completely exited. The largest of these moves: New buy: Carnival CORP LTD F; Sold out: Carnival CORP LTD (CCL1EUR); New buy: Netease Inc-adr (NTES); Sold out: Whirlpool CORP (WHR); Sold out: Aptiv PLC (APTV)
What sectors does Causeway Capital Management LLC focus on?
Causeway Capital Management LLC is concentrated in the following sectors based on its current disclosed equity portfolio:
• Health Care: 30.9%
• Financials: 22.9%
• Industrials: 15.6%
• Consumer Discretionary: 11.0%
• Information Technology: 6.8%
• Communication Services: 6.3%
* This report is exclusively curated by the AlphaSMO team. AlphaSMO is the web's most authoritative 13F / Inside Trader database, delivering precise insider trading and institutional holdings insights.
Investment Profile
Causeway Capital Management LLC returned an annualized 17.8% over the trailing 36 months — outperforming the S&P 500 by 0.3 points — based on a reconstructed track record of its disclosed 13F positions, with a beta of 0.87 (less volatile than the market) and a 58% quarterly batting average against the index.
Its portfolio is broadly diversified and moderately active, with 30.9% of the portfolio concentrated in Health Care.
Its turnover score has risen from 0 to 52 over the past 4 quarters — a shift toward more active trading.
It has added to its DB position over the past two quarters (+$442.5M, now $994.2M), while trimming CP over the same stretch (-$346.9M, still holding $581.7M).
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Developer Access
Access Causeway Capital Management LLC's institutional profile programmatically:
REST API
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npx alphasmo institutions get causeway-capital-management-llc