Sarah Ketterer - Causeway Capital Management 13F Activity & Position Changes (Q1 2025)

As of Mar 31, 2025, the Causeway Capital Management portfolio activity showed several notable changes in holdings, according to the latest SEC 13F filing reported on May 14, 2025. The activity included new positions, additions to existing holdings, reductions, and complete exits, providing a clear view of how the portfolio evolved during the quarter.

During Q1 2025, the filing reported:

New Buys - Aptiv, Carnival Corporation, Celestica, Inc., Deutsche Bank, Embraer S.A., and 6 more

Increases - Apple Inc., Analog Devices, Inc., Ally Financial Inc., Atour Lifestyle Holdings Limite, Astrazeneca PLC, and 36 more

Reductions - iShares MSCI ACWI ETF, AngloGold Ashanti, Credicorp, Banco Bradesco Sa, Barclays PLC, and 28 more

Complete Exits - Accenture plc, Boeing Company (The), Check Point, Colliers International Group In, CNH Industrial, and 19 more

These updates highlight how the portfolio adjusted across different sectors and market conditions, offering insights into allocation shifts and investment trends.

Date	Symbol	Name	Type	Change Qty	% Change	Value	Remaining
Q1 2025	AAPL Apple Inc.	Apple Inc.	Buy	+44	+4.6%	$223.24K	1,005
Q1 2025	ACN Accenture plc	Accenture plc	Sell - Position Exit	-2,451	-100.0%	$0.00	-
Q1 2025	ACWI iShares MSCI ACWI ETF	iShares MSCI ACWI ETF	Sell	-11,444	-49.7%	$1.35M	11,604
Q1 2025	ADI Analog Devices, Inc.	Analog Devices, Inc.	Buy	+57,467	+15.7%	$85.51M	424,025
Q1 2025	ALLY Ally Financial Inc.	Ally Financial Inc.	Buy	+228,019	+53.9%	$23.76M	651,383
Q1 2025	APTV Aptiv	Aptiv	Buy - Position Entry	+860,744	-	$51.21M	860,744
Q1 2025	ATAT Atour Lifestyle Holdings Limite	Atour Lifestyle Holdings Limite	Buy	+448,854	+231.7%	$18.22M	642,536
Q1 2025	AU AngloGold Ashanti	AngloGold Ashanti	Sell	-118,279	-23.6%	$14.32M	383,520
Q1 2025	AZN Astrazeneca PLC	Astrazeneca PLC	Buy	+26,017	+3.1%	$63.05M	857,887
Q1 2025	BA Boeing Company (The)	Boeing Company (The)	Sell - Position Exit	-302,750	-100.0%	$0.00	-
Q1 2025	BABA Alibaba Group Holding Limited	Alibaba Group Holding Limited	Buy	+404,842	+42.6%	$179.31M	1,356,010
Q1 2025	BAP Credicorp	Credicorp	Sell	-115,041	-67.8%	$10.15M	54,527
Q1 2025	BBD Banco Bradesco Sa	Banco Bradesco Sa	Sell	-32,714,894	-90.1%	$8.02M	3,598,612
Q1 2025	BCS Barclays PLC	Barclays PLC	Sell	-1,418,525	-23.9%	$69.30M	4,511,942
Q1 2025	BIIB Biogen Inc.	Biogen Inc.	Buy	+151,815	+53.9%	$59.32M	433,517
Q1 2025	BP BP p.l.c.	BP p.l.c.	Buy	+294,568	+22.6%	$53.95M	1,596,626
Q1 2025	BTG B2Gold Corp	B2Gold Corp	Sell	-966,813	-91.1%	$268.52K	94,491
Q1 2025	BTI British American Tobacco Indus	British American Tobacco Indus	Sell	-20,985	-3.3%	$25.19M	608,927
Q1 2025	BUD Anheuser-Busch Inbev SA Sponsor	Anheuser-Busch Inbev SA Sponsor	Buy	+117,619	+20.5%	$42.59M	691,917
Q1 2025	C Citigroup, Inc.	Citigroup, Inc.	Buy	+116,032	+9.4%	$95.90M	1,350,907
Q1 2025	CCL Carnival Corporation	Carnival Corporation	Buy - Position Entry	+26,565,066	-	$518.82M	26,565,066
Q1 2025	CFG Citizens Financial Group, Inc.	Citizens Financial Group, Inc.	Buy	+239,646	+31.3%	$41.14M	1,004,199
Q1 2025	CHKP Check Point	Check Point	Sell - Position Exit	-1,929,604	-100.0%	$0.00	-
Q1 2025	CIGI Colliers International Group In	Colliers International Group In	Sell - Position Exit	-1,677	-100.0%	$0.00	-
Q1 2025	CLS Celestica, Inc.	Celestica, Inc.	Buy - Position Entry	+146,152	-	$11.53M	146,152
Q1 2025	CNH CNH Industrial	CNH Industrial	Sell - Position Exit	-33,849	-100.0%	$0.00	-
Q1 2025	CNXC Concentrix Corporation	Concentrix Corporation	Sell - Position Exit	-409,812	-100.0%	$0.00	-
Q1 2025	CP Canadian Pacific Kansas City Li	Canadian Pacific Kansas City Li	Buy	+1,778,984	+11.5%	$1.21B	17,208,788
Q1 2025	CTSH Cognizant Technology Solutions	Cognizant Technology Solutions	Buy	+99,572	+12.2%	$70.22M	917,875
Q1 2025	DB Deutsche Bank	Deutsche Bank	Buy - Position Entry	+1,513,500	-	$36.07M	1,513,500

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