Sarah Ketterer - Causeway Capital Management 13F Activity & Position Changes (Q3 2025)

As of Sep 30, 2025, the Causeway Capital Management portfolio activity showed several notable changes in holdings, according to the latest SEC 13F filing reported on Nov 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 Q3 2025, the filing reported:

New Buys - ADT Inc., Carrier Global Corporation, Everest Group, iShares Inc iShares MSCI Taiwan, iShares Inc iShares MSCI South , and 8 more

Increases - iShares MSCI ACWI ETF, Ally Financial Inc., Aptiv, Astrazeneca PLC, Credicorp, and 48 more

Reductions - Apple Inc., Analog Devices, Inc., Atour Lifestyle Holdings Limite, AngloGold Ashanti, Barrick Gold, and 26 more

Complete Exits - Booking Holdings Inc. Common St, International Flavors & Fragran, iQIYI, Inc., JD.com, Inc., MercadoLibre, Inc., 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
Q3 2025	AAPL Apple Inc.	Apple Inc.	Sell	-76	-7.6%	$236.04K	927
Q3 2025	ACWI iShares MSCI ACWI ETF	iShares MSCI ACWI ETF	Buy	+967	+11.4%	$1.30M	9,427
Q3 2025	ADI Analog Devices, Inc.	Analog Devices, Inc.	Sell	-53,332	-15.0%	$74.27M	302,272
Q3 2025	ADT ADT Inc.	ADT Inc.	Buy - Position Entry	+10,929	-	$95.19K	10,929
Q3 2025	ALLY Ally Financial Inc.	Ally Financial Inc.	Buy	+33,133	+5.5%	$24.94M	636,169
Q3 2025	APTV Aptiv	Aptiv	Buy	+4,147	+0.6%	$62.32M	722,843
Q3 2025	ATAT Atour Lifestyle Holdings Limite	Atour Lifestyle Holdings Limite	Sell	-61,214	-9.1%	$22.99M	611,570
Q3 2025	AU AngloGold Ashanti	AngloGold Ashanti	Sell	-589,638	-74.8%	$13.96M	198,513
Q3 2025	AZN Astrazeneca PLC	Astrazeneca PLC	Buy	+113,923	+11.9%	$81.89M	1,067,371
Q3 2025	B Barrick Gold	Barrick Gold	Sell	-1,959,176	-11.1%	$514.55M	15,694,240
Q3 2025	BABA Alibaba Group Holding Limited	Alibaba Group Holding Limited	Sell	-11,005	-0.9%	$220.10M	1,231,464
Q3 2025	BAP Credicorp	Credicorp	Buy	+22,870	+11.9%	$57.42M	215,628
Q3 2025	BCS Barclays PLC	Barclays PLC	Sell	-311,229	-6.7%	$89.98M	4,352,949
Q3 2025	BIIB Biogen Inc.	Biogen Inc.	Buy	+74,163	+15.0%	$79.50M	567,518
Q3 2025	BKNG Booking Holdings Inc. Common St	Booking Holdings Inc. Common St	Sell - Position Exit	-37	-100.0%	$0.00	-
Q3 2025	BP BP p.l.c.	BP p.l.c.	Sell	-37,254	-2.3%	$54.56M	1,583,385
Q3 2025	BTI British American Tobacco Indus	British American Tobacco Indus	Sell	-71,896	-13.5%	$24.35M	458,703
Q3 2025	BUD Anheuser-Busch Inbev SA Sponsor	Anheuser-Busch Inbev SA Sponsor	Sell	-37,791	-5.8%	$36.34M	609,686
Q3 2025	BXP BXP, Inc.	BXP, Inc.	Buy	+18,712	+6.9%	$21.67M	291,507
Q3 2025	C Citigroup, Inc.	Citigroup, Inc.	Sell	-261,900	-20.8%	$101.30M	998,078
Q3 2025	CARR Carrier Global Corporation	Carrier Global Corporation	Buy - Position Entry	+1,466,481	-	$87.55M	1,466,481
Q3 2025	CCL Carnival Corporation	Carnival Corporation	Buy	+2,783,927	+9.6%	$922.58M	31,912,001
Q3 2025	CFG Citizens Financial Group, Inc.	Citizens Financial Group, Inc.	Buy	+57,086	+5.5%	$57.95M	1,090,060
Q3 2025	CGAU Centerra Gold Inc.	Centerra Gold Inc.	Buy	+227,876	+35.9%	$9.25M	863,377
Q3 2025	CLS Celestica, Inc.	Celestica, Inc.	Sell	-23,917	-19.2%	$24.78M	100,670
Q3 2025	CP Canadian Pacific Kansas City Li	Canadian Pacific Kansas City Li	Sell	-1,157,626	-7.9%	$1.01B	13,522,873
Q3 2025	CTSH Cognizant Technology Solutions	Cognizant Technology Solutions	Buy	+168,820	+14.3%	$90.56M	1,350,178
Q3 2025	DB Deutsche Bank	Deutsche Bank	Sell	-1,696,378	-8.8%	$620.20M	17,618,765
Q3 2025	DEO Diageo plc	Diageo plc	Buy	+36,156	+8.4%	$44.55M	466,866
Q3 2025	DIS Walt Disney Company (The)	Walt Disney Company (The)	Sell	-27,762	-4.5%	$68.23M	595,915

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