Sarah Ketterer - Causeway Capital Management 13F Activity & Position Changes (Q2 2025)

As of Jun 30, 2025, the Causeway Capital Management portfolio activity showed several notable changes in holdings, according to the latest SEC 13F filing reported on Aug 13, 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 Q2 2025, the filing reported:

New Buys - Barrick Gold, Booking Holdings Inc. Common St, BXP, Inc., Centerra Gold Inc., PagSeguro Digital, and 13 more

Increases - Atour Lifestyle Holdings Limite, AngloGold Ashanti, Astrazeneca PLC, Credicorp, Barclays PLC, and 38 more

Reductions - Apple Inc., iShares MSCI ACWI ETF, Analog Devices, Inc., Ally Financial Inc., Aptiv, and 28 more

Complete Exits - Banco Bradesco Sa, Quest Diagnostics Incorporated, Embraer S.A., Barrick Gold Corporation, JinkoSolar Holding Company Limi, and 3 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
Q2 2025	AAPL Apple Inc.	Apple Inc.	Sell	-2	-0.2%	$205.79K	1,003
Q2 2025	ACWI iShares MSCI ACWI ETF	iShares MSCI ACWI ETF	Sell	-3,144	-27.1%	$1.09M	8,460
Q2 2025	ADI Analog Devices, Inc.	Analog Devices, Inc.	Sell	-68,421	-16.1%	$84.64M	355,604
Q2 2025	ALLY Ally Financial Inc.	Ally Financial Inc.	Sell	-48,347	-7.4%	$23.49M	603,036
Q2 2025	APTV Aptiv	Aptiv	Sell	-142,048	-16.5%	$49.03M	718,696
Q2 2025	ATAT Atour Lifestyle Holdings Limite	Atour Lifestyle Holdings Limite	Buy	+30,248	+4.7%	$21.87M	672,784
Q2 2025	AU AngloGold Ashanti	AngloGold Ashanti	Buy	+404,631	+105.5%	$35.52M	788,151
Q2 2025	AZN Astrazeneca PLC	Astrazeneca PLC	Buy	+95,561	+11.1%	$66.63M	953,448
Q2 2025	B Barrick Gold	Barrick Gold	Buy - Position Entry	+17,653,416	-	$366.67M	17,653,416
Q2 2025	BABA Alibaba Group Holding Limited	Alibaba Group Holding Limited	Sell	-113,541	-8.4%	$140.91M	1,242,469
Q2 2025	BAP Credicorp	Credicorp	Buy	+138,231	+253.5%	$43.09M	192,758
Q2 2025	BBD Banco Bradesco Sa	Banco Bradesco Sa	Sell - Position Exit	-3,598,612	-100.0%	$0.00	-
Q2 2025	BCS Barclays PLC	Barclays PLC	Buy	+152,236	+3.4%	$86.71M	4,664,178
Q2 2025	BIIB Biogen Inc.	Biogen Inc.	Buy	+59,838	+13.8%	$61.96M	493,355
Q2 2025	BKNG Booking Holdings Inc. Common St	Booking Holdings Inc. Common St	Buy - Position Entry	+37	-	$214.20K	37
Q2 2025	BP BP p.l.c.	BP p.l.c.	Buy	+24,013	+1.5%	$48.51M	1,620,639
Q2 2025	BTI British American Tobacco Indus	British American Tobacco Indus	Sell	-78,328	-12.9%	$25.11M	530,599
Q2 2025	BUD Anheuser-Busch Inbev SA Sponsor	Anheuser-Busch Inbev SA Sponsor	Sell	-44,440	-6.4%	$44.49M	647,477
Q2 2025	BXP BXP, Inc.	BXP, Inc.	Buy - Position Entry	+272,795	-	$18.41M	272,795
Q2 2025	C Citigroup, Inc.	Citigroup, Inc.	Sell	-90,929	-6.7%	$107.25M	1,259,978
Q2 2025	CCL Carnival Corporation	Carnival Corporation	Buy	+2,563,008	+9.6%	$819.08M	29,128,074
Q2 2025	CFG Citizens Financial Group, Inc.	Citizens Financial Group, Inc.	Buy	+28,775	+2.9%	$46.23M	1,032,974
Q2 2025	CGAU Centerra Gold Inc.	Centerra Gold Inc.	Buy - Position Entry	+635,501	-	$4.57M	635,501
Q2 2025	CLS Celestica, Inc.	Celestica, Inc.	Sell	-21,565	-14.8%	$19.43M	124,587
Q2 2025	CP Canadian Pacific Kansas City Li	Canadian Pacific Kansas City Li	Sell	-2,528,289	-14.7%	$1.16B	14,680,499
Q2 2025	CTSH Cognizant Technology Solutions	Cognizant Technology Solutions	Buy	+263,483	+28.7%	$92.18M	1,181,358
Q2 2025	DB Deutsche Bank	Deutsche Bank	Buy	+17,801,643	+1176.2%	$570.42M	19,315,143
Q2 2025	DEO Diageo plc	Diageo plc	Buy	+124,044	+40.4%	$43.43M	430,710
Q2 2025	DGX Quest Diagnostics Incorporated	Quest Diagnostics Incorporated	Sell - Position Exit	-120,400	-100.0%	$0.00	-
Q2 2025	DIS Walt Disney Company (The)	Walt Disney Company (The)	Sell	-330,175	-34.6%	$77.34M	623,677

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