Sarah Ketterer - Causeway Capital Management 13F Portfolio Holdings (Q1 2026)
As of Mar 31, 2026, the Causeway Capital Management portfolio holdings is valued at approximately $8,146,199,181.00 featuring 104 publicly traded holdings. This in-depth profile highlights the top investments led by CARNIVAL CORP (CCL), DEUTSCHE BANK AG (DB), CANADIAN PACIFIC KANSAS CITY LTD (CP), SMURFIT WESTROCK PLC (SW), and others based on the company's latest SEC filings reported on May 14, 2026. Explore insights into portfolio composition, sector allocation, and recent trade activity.
Causeway Capital Management's stock portfolio spans 104 holdings across 12 sectors, with a total market value of $8,146,199,181.00. The Other sector represents the largest allocation, while the top holdings account for nearly 55% of the total portfolio value. CARNIVAL CORP remains the single largest position at 11.8% of all equity investments.
Complete Holdings
Showing 100 of 104 holdings.
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| # | Company | Symbol | Sector | Portfolio % | Shares | Change (Shares) | Change % | Value |
|---|---|---|---|---|---|---|---|---|
| 1 | CARNIVAL CORP | CCL | Consumer Cyclical | 11.79% | 37,096,593 | +3,151,811 | +9.29% | $960,059,875.00 |
| 2 | DEUTSCHE BANK AG | DB | Other | 8.88% | 24,962,034 | +10,767,680 | +75.86% | $723,328,774.00 |
| 3 | CANADIAN PACIFIC KANSAS CITY LTD | CP | Industrials | 8.47% | 8,792,381 | -3,804,421 | -30.20% | $689,859,836.00 |
| 4 | SMURFIT WESTROCK PLC | SW | Other | 7.61% | 15,566,028 | -3,566,851 | -18.64% | $620,306,256.00 |
| 5 | TAIWAN SEMICONDUCTOR MANUFACTURING CO LTD | TSM | Technology | 2.11% | 508,471 | -3,249 | -0.63% | $171,837,774.00 |
| 6 | ALIBABA GROUP HOLDING LTD | BABA | Consumer Cyclical | 1.65% | 1,068,890 | -134,159 | -11.15% | $134,102,939.00 |
| 7 | CARRIER GLOBAL CORP | CARR | Industrials | 1.45% | 2,102,878 | +254,051 | +13.74% | $118,413,118.00 |
| 8 | MERCK & CO INC | MRK | Healthcare | 1.26% | 854,212 | -190,405 | -18.23% | $102,753,243.00 |
| 9 | ALPHABET INC | GOOG | Communication Services | 1.19% | 337,298 | -32,703 | -8.84% | $96,757,214.00 |
| 10 | COGNIZANT TECHNOLOGY SOLUTIONS CORP | CTSH | Technology | 1.13% | 1,504,253 | -48,108 | -3.10% | $92,285,969.00 |
| 11 | ALASKA AIR GROUP INC | ALK | Industrials | 1.13% | 2,502,211 | +1,067,694 | +74.43% | $92,031,362.00 |
| 12 | ANGLOGOLD ASHANTI PLC | AU | Other | 1.06% | 898,816 | +464,556 | +106.98% | $86,240,128.00 |
| 13 | BARCLAYS PLC | BCS | Financial Services | 1.06% | 4,074,067 | +323,460 | +8.62% | $86,207,255.00 |
| 14 | CREDICORP LTD | BAP | Other | 1.02% | 245,113 | +3,089 | +1.28% | $83,137,427.00 |
| 15 | META PLATFORMS INC | META | Communication Services | 1.02% | 144,799 | +34,414 | +31.18% | $82,844,021.00 |
| 16 | AXIS CAPITAL HOLDINGS LTD | G0692U109 | Other | 1.02% | 815,794 | +94,573 | +13.11% | $82,729,743.00 |
| 17 | EVEREST GROUP LTD | EG | Other | 1.00% | 250,008 | +11,450 | +4.80% | $81,715,292.00 |
| 18 | LIVE NATION ENTERTAINMENT INC | LYV | Communication Services | 0.99% | 526,418 | +79,305 | +17.74% | $80,284,017.00 |
| 19 | SAP SE | SAP | Technology | 0.96% | 456,005 | +205,257 | +81.86% | $78,072,591.00 |
| 20 | RELX PLC | RELX | Industrials | 0.94% | 2,306,409 | +1,117,030 | +93.92% | $76,457,451.00 |
| 21 | GOLD FIELDS LTD | GFI | Basic Materials | 0.91% | 1,634,170 | +13,094 | +0.81% | $74,191,318.00 |
| 22 | ZIMMER BIOMET HOLDINGS INC | ZBH | Healthcare | 0.90% | 808,110 | +79,612 | +10.93% | $73,069,309.00 |
| 23 | GENPACT LTD | G | Other | 0.89% | 1,948,677 | -135,532 | -6.50% | $72,588,251.00 |
| 24 | CITIGROUP INC | C | Financial Services | 0.88% | 634,931 | -62,514 | -8.96% | $72,007,582.00 |
| 25 | KONINKLIJKE PHILIPS NV | PHG | Healthcare | 0.83% | 2,456,190 | +257,659 | +11.72% | $67,299,605.00 |
| 26 | BOOZ ALLEN HAMILTON HOLDING CORP | BAH | Industrials | 0.82% | 857,462 | +461,130 | +116.35% | $66,907,784.00 |
| 27 | WHIRLPOOL CORP | WHR | Consumer Cyclical | 0.80% | 1,201,993 | +440,765 | +57.90% | $64,811,505.00 |
| 28 | ANALOG DEVICES INC | ADI | Technology | 0.79% | 201,819 | -61,211 | -23.27% | $64,206,674.00 |
| 29 | CITIZENS FINANCIAL GROUP INC | CFG | Financial Services | 0.77% | 1,048,526 | +34,340 | +3.39% | $62,880,150.00 |
| 30 | BOEING CO/THE | BA | Industrials | 0.77% | 313,926 | +161,998 | +106.63% | $62,480,674.00 |
| 31 | JONES LANG LASALLE INC | JLL | Real Estate | 0.70% | 186,274 | +126,818 | +213.30% | $56,686,819.00 |
| 32 | WALT DISNEY CO/THE | DIS | Communication Services | 0.66% | 559,882 | +13,818 | +2.53% | $53,961,450.00 |
| 33 | PFIZER INC | PFE | Healthcare | 0.66% | 1,914,219 | -177,500 | -8.49% | $53,751,301.00 |
| 34 | BIOGEN INC | BIIB | Healthcare | 0.63% | 280,783 | -240,318 | -46.12% | $51,475,885.00 |
| 35 | SANOFI SA | SNY | Healthcare | 0.63% | 1,064,516 | +558 | +0.05% | $51,288,367.00 |
| 36 | INGERSOLL RAND INC | IR | Industrials | 0.62% | 626,062 | +29,291 | +4.91% | $50,160,136.00 |
| 37 | DIAGEO PLC | DEO | Consumer Defensive | 0.61% | 666,314 | +181,026 | +37.30% | $49,607,110.00 |
| 38 | APTIV PLC | APTV | Other | 0.58% | 683,463 | +14,843 | +2.22% | $47,459,726.00 |
| 39 | VANGUARD FTSE DEVELOPED MARKETS ETF | VEA | Other | 0.58% | 736,637 | +315,245 | +74.81% | $47,203,675.00 |
| 40 | DTE ENERGY CO | DTE | Utilities | 0.58% | 322,015 | +322,015 | +100.00% | $47,085,062.00 |
| 41 | BP PLC | BP | Energy | 0.58% | 997,934 | -642,746 | -39.18% | $46,902,923.00 |
| 42 | NATIONAL GRID PLC | NGG | Utilities | 0.56% | 538,761 | -170,724 | -24.06% | $45,579,151.00 |
| 43 | NATWEST GROUP PLC | NWG | Financial Services | 0.55% | 2,988,309 | +1,401,045 | +88.27% | $44,525,809.00 |
| 44 | JOYY INC | YY | Communication Services | 0.54% | 750,751 | -61,850 | -7.61% | $43,836,351.00 |
| 45 | NOVO NORDISK A/S | NVO | Healthcare | 0.53% | 1,174,213 | +180,363 | +18.15% | $43,152,333.00 |
| 46 | PAGSEGURO DIGITAL LTD | G68707101 | Other | 0.50% | 4,044,350 | -1,107 | -0.03% | $40,524,387.00 |
| 47 | ANHEUSER-BUSCH INBEV SA/NV | BUD | Consumer Defensive | 0.49% | 580,131 | -121,212 | -17.28% | $40,243,686.00 |
| 48 | ING GROEP NV | ING | Financial Services | 0.49% | 1,537,748 | +555,742 | +56.59% | $40,058,348.00 |
| 49 | TEXAS INSTRUMENTS INC | TXN | Technology | 0.49% | 206,214 | +206,214 | +100.00% | $40,034,384.00 |
| 50 | TAL EDUCATION GROUP | TAL | Consumer Defensive | 0.49% | 3,478,417 | +3,469,117 | +37302.33% | $39,549,601.00 |
| 51 | PRUDENTIAL PLC | PUK | Financial Services | 0.46% | 1,321,151 | -187,761 | -12.44% | $37,560,333.00 |
| 52 | SMITH & NEPHEW PLC | SNN | Healthcare | 0.37% | 953,146 | +349,334 | +57.85% | $30,290,967.00 |
| 53 | BRITISH AMERICAN TOBACCO PLC | BTI | Consumer Defensive | 0.36% | 500,864 | +17,726 | +3.67% | $29,285,506.00 |
| 54 | ISHARES MSCI INDIA SMALL-CAP ETF | SMIN | Other | 0.35% | 471,654 | +12,677 | +2.76% | $28,280,374.00 |
| 55 | PETROLEO BRASILEIRO SA - PETROBRAS | PBR-A | Energy | 0.34% | 1,495,664 | +1,355,903 | +970.16% | $28,043,700.00 |
| 56 | INFOSYS LTD | INFY | Technology | 0.31% | 1,896,488 | -585,830 | -23.60% | $25,621,553.00 |
| 57 | SUMITOMO MITSUI FINANCIAL GROUP INC | SMFG | Financial Services | 0.31% | 1,267,248 | +89,974 | +7.64% | $25,028,143.00 |
| 58 | GERDAU SA | GGB | Basic Materials | 0.30% | 6,841,155 | -418,278 | -5.76% | $24,696,570.00 |
| 59 | PDD HOLDINGS INC | PDD | Consumer Cyclical | 0.30% | 237,010 | -134,231 | -36.16% | $24,217,682.00 |
| 60 | ZIM INTEGRATED SHIPPING SERVICES LTD | M9T951109 | Other | 0.29% | 889,550 | -323,456 | -26.67% | $23,439,643.00 |
| 61 | WEIBO CORP | WB | Communication Services | 0.29% | 2,666,202 | -326,032 | -10.90% | $23,329,268.00 |
| 62 | CENTERRA GOLD INC | CGAU | Basic Materials | 0.27% | 1,245,027 | -4,762 | -0.38% | $22,071,562.00 |
| 63 | ISHARES MSCI INDIA ETF | INDA | Other | 0.26% | 459,200 | +72,995 | +18.90% | $21,508,928.00 |
| 64 | BXP INC | BXP | Real Estate | 0.24% | 380,761 | +108,712 | +39.96% | $19,761,500.00 |
| 65 | UNITEDHEALTH GROUP INC | UNH | Healthcare | 0.24% | 71,864 | +7,261 | +11.24% | $19,445,629.00 |
| 66 | VISTA ENERGY SAB DE CV | VIST | Energy | 0.20% | 220,918 | +136,649 | +162.16% | $16,672,681.00 |
| 67 | MILLICOM INTERNATIONAL CELLULAR SA | TIGO | Other | 0.19% | 208,718 | -7,232 | -3.35% | $15,641,327.00 |
| 68 | SHINHAN FINANCIAL GROUP CO LTD | SHG | Financial Services | 0.19% | 253,576 | -326,220 | -56.26% | $15,549,287.00 |
| 69 | VANGUARD FTSE ALL WORLD EX-US SMALL-CAP ETF | VSS | Other | 0.19% | 103,581 | +30,651 | +42.03% | $15,101,074.00 |
| 70 | ARCELORMITTAL SA | MT | Basic Materials | 0.17% | 265,697 | -119,152 | -30.96% | $13,810,907.00 |
| 71 | FORTUNA MINING CORP | FSM | Basic Materials | 0.15% | 1,251,045 | +387,417 | +44.86% | $12,397,945.00 |
| 72 | ICICI BANK LTD | IBN | Financial Services | 0.14% | 450,887 | -26,173 | -5.49% | $11,677,973.00 |
| 73 | FINVOLUTION GROUP | FINV | Financial Services | 0.14% | 2,401,084 | -360,843 | -13.06% | $11,501,192.00 |
| 74 | HDFC BANK LTD | HDB | Financial Services | 0.12% | 399,171 | -23,108 | -5.47% | $9,931,374.00 |
| 75 | GRUPO CIBEST SA | 40090E106 | Other | 0.12% | 132,364 | +132,364 | +100.00% | $9,637,423.00 |
| 76 | CELESTICA INC | CLS | Technology | 0.09% | 24,809 | -48,493 | -66.16% | $6,976,137.00 |
| 77 | TENCENT MUSIC ENTERTAINMENT GROUP | TME | Communication Services | 0.07% | 612,900 | -1,076,676 | -63.72% | $5,687,712.00 |
| 78 | QFIN HOLDINGS INC | QFIN | Financial Services | 0.05% | 330,288 | -976,348 | -74.72% | $4,264,018.00 |
| 79 | ISHARES MSCI EAFE ETF | EFA | Other | 0.05% | 37,761 | -45,243 | -54.51% | $3,667,774.00 |
| 80 | ISHARES MSCI TAIWAN ETF | EWT | Other | 0.03% | 37,151 | -153,190 | -80.48% | $2,634,749.00 |
| 81 | MAKEMYTRIP LTD | MMYT | Other | 0.03% | 64,544 | -3,615 | -5.30% | $2,406,846.00 |
| 82 | ISHARES MSCI ACWI ETF | ACWI | Other | 0.03% | 15,421 | +4,486 | +41.02% | $2,133,827.00 |
| 83 | ISHARES MSCI SAUDI ARABIA ETF | KSA | Other | 0.03% | 52,898 | -141,539 | -72.79% | $2,102,696.00 |
| 84 | ENERFLEX LTD | EFXT | Energy | 0.01% | 52,946 | -20,486 | -27.90% | $1,104,030.00 |
| 85 | ITURAN LOCATION AND CONTROL LTD | M6158M104 | Other | 0.01% | 20,439 | - | - | $1,001,715.00 |
| 86 | INMODE LTD | M5425M103 | Other | 0.01% | 71,829 | - | - | $982,621.00 |
| 87 | WIPRO LTD | WIT | Technology | 0.01% | 443,164 | -30,137 | -6.37% | $939,508.00 |
| 88 | NVIDIA CORP | NVDA | Technology | 0.01% | 3,589 | -169 | -4.50% | $625,922.00 |
| 89 | GSK PLC | GSK | Healthcare | 0.01% | 11,110 | -22,787 | -67.22% | $613,177.00 |
| 90 | ISHARES MSCI EAFE SMALL-CAP ETF | SCZ | Other | 0.01% | 7,100 | -700 | -8.97% | $556,711.00 |
| 91 | VANGUARD FTSE ALL-WORLD EX-US ETF | VEU | Other | 0.01% | 6,191 | -8,293 | -57.26% | $464,938.00 |
| 92 | B2GOLD CORP | BTG | Basic Materials | 0.01% | 94,491 | - | - | $427,920.00 |
| 93 | HAFNIA LTD | Y2990R101 | Other | 0.01% | 54,367 | +54,367 | +100.00% | $416,252.00 |
| 94 | VANGUARD FTSE EMERGING MARKETS ETF | VWO | Other | 0.00% | 7,469 | -53,092 | -87.67% | $403,699.00 |
| 95 | JBS NV | N4732M103 | Other | 0.00% | 20,994 | - | - | $377,052.00 |
| 96 | PRECISION DRILLING CORP | PDS | Energy | 0.00% | 3,291 | - | - | $322,839.00 |
| 97 | BARRICK MINING CORP | B | Other | 0.00% | 7,736 | -6,085,659 | -99.87% | $315,615.00 |
| 98 | MICROSOFT CORP | MSFT | Technology | 0.00% | 772 | -193 | -20.00% | $285,771.00 |
| 99 | BROADCOM INC | AVGO | Technology | 0.00% | 843 | +16 | +1.93% | $260,917.00 |
| 100 | COMFORT SYSTEMS USA INC | FIX | Industrials | 0.00% | 184 | -59 | -24.28% | $253,734.00 |
Holdings by Sector
| Sector | Allocation | Value |
|---|---|---|
| Other | 30.06% | $2,016,306,923.00 |
| Consumer Cyclical | 17.64% | $1,183,192,001.00 |
| Industrials | 17.24% | $1,156,564,095.00 |
| Healthcare | 7.36% | $493,366,983.00 |
| Technology | 7.18% | $481,381,448.00 |
| Financial Services | 6.28% | $421,399,841.00 |
| Communication Services | 5.77% | $386,700,033.00 |
| Consumer Defensive | 2.37% | $158,685,903.00 |
| Basic Materials | 2.20% | $147,596,222.00 |
| Energy | 1.39% | $93,046,173.00 |
| Utilities | 1.38% | $92,664,213.00 |
| Real Estate | 1.14% | $76,513,903.00 |
Portfolio insights
As of Mar 31, 2026, the Causeway Capital Management portfolio holds 104 securities valued at $6,707,417,738.00. The Other sector represents the largest allocation, while the top positions account for a significant portion of the total portfolio weight.