Sarah Ketterer - Causeway Capital Management Portfolio Holdings
As of Dec 31, 2025, the Causeway Capital Management portfolio holdings is valued at approximately $7,268,171,214.00 featuring 106 publicly traded holdings. This in-depth profile highlights the top investments led by CARNIVAL CORP (CCL), CANADIAN PACIFIC KANSAS CITY LTD (CP), SMURFIT WESTROCK PLC (SW), DEUTSCHE BANK AG (DB), and others based on the company's latest SEC filings reported on Feb 13, 2026. Explore insights into portfolio composition, sector allocation, and recent trade activity.
Causeway Capital Management's stock portfolio spans 106 holdings across 12 sectors, with a total market value of $7,268,171,214.00. The Other sector represents the largest allocation, while the top holdings account for nearly 58% of the total portfolio value. CARNIVAL CORP remains the single largest position at 14.3% of all equity investments.
Complete Holdings
Showing 100 of 106 holdings.
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| # | Company | Symbol | Sector | Portfolio % | Shares | Change (Shares) | Change % | Value |
|---|---|---|---|---|---|---|---|---|
| 1 | CARNIVAL CORP | CCL | Consumer Cyclical | 14.26% | 33,944,782 | +2,032,781 | +6.37% | $1,036,673,696.00 |
| 2 | CANADIAN PACIFIC KANSAS CITY LTD | CP | Industrials | 12.78% | 12,596,802 | -926,071 | -6.85% | $928,556,747.00 |
| 3 | SMURFIT WESTROCK PLC | SW | Other | 10.18% | 19,132,879 | +11,609,896 | +154.33% | $739,868,443.00 |
| 4 | DEUTSCHE BANK AG | DB | Other | 7.59% | 14,194,354 | -3,424,411 | -19.44% | $551,670,976.00 |
| 5 | BARRICK MINING CORP | B | Other | 3.64% | 6,093,395 | -9,600,845 | -61.17% | $264,486,969.00 |
| 6 | ALIBABA GROUP HOLDING LTD | BABA | Consumer Cyclical | 2.43% | 1,203,049 | -28,415 | -2.31% | $176,342,922.00 |
| 7 | TAIWAN SEMICONDUCTOR MANUFACTURING CO LTD | TSM | Technology | 2.14% | 511,720 | +3,969 | +0.78% | $155,506,439.00 |
| 8 | COGNIZANT TECHNOLOGY SOLUTIONS CORP | CTSH | Technology | 1.77% | 1,552,361 | +202,183 | +14.97% | $128,845,979.00 |
| 9 | ALPHABET INC | GOOG | Communication Services | 1.60% | 370,001 | -262,157 | -41.47% | $116,106,220.00 |
| 10 | MERCK & CO INC | MRK | Healthcare | 1.51% | 1,044,617 | -89,440 | -7.89% | $109,956,449.00 |
| 11 | CARRIER GLOBAL CORP | CARR | Industrials | 1.34% | 1,848,827 | +382,346 | +26.07% | $97,692,043.00 |
| 12 | GENPACT LTD | G | Other | 1.34% | 2,084,209 | +205,777 | +10.95% | $97,499,333.00 |
| 13 | BARCLAYS PLC | BCS | Financial Services | 1.31% | 3,750,607 | -602,342 | -13.84% | $95,452,949.00 |
| 14 | ASTRAZENECA PLC | AZN | Healthcare | 1.28% | 1,010,898 | -56,473 | -5.29% | $92,931,891.00 |
| 15 | BIOGEN INC | BIIB | Healthcare | 1.26% | 521,101 | -46,417 | -8.18% | $91,708,545.00 |
| 16 | CITIGROUP INC | C | Financial Services | 1.12% | 697,445 | -300,633 | -30.12% | $81,384,872.00 |
| 17 | EVEREST GROUP LTD | EG | Other | 1.11% | 238,558 | +62,872 | +35.79% | $80,954,840.00 |
| 18 | AXIS CAPITAL HOLDINGS LTD | G0692U109 | Other | 1.06% | 721,221 | -115,640 | -13.82% | $77,235,634.00 |
| 19 | META PLATFORMS INC | META | Communication Services | 1.00% | 110,385 | +23,468 | +27.00% | $72,864,181.00 |
| 20 | ALASKA AIR GROUP INC | ALK | Industrials | 0.99% | 1,434,517 | +705,795 | +96.85% | $72,156,251.00 |
| 21 | ANALOG DEVICES INC | ADI | Technology | 0.98% | 263,030 | -39,242 | -12.98% | $71,333,835.00 |
| 22 | GOLD FIELDS LTD | GFI | Basic Materials | 0.97% | 1,621,076 | +78,061 | +5.06% | $70,776,178.00 |
| 23 | CREDICORP LTD | BAP | Other | 0.96% | 242,024 | +26,396 | +12.24% | $69,460,888.00 |
| 24 | GRAPHIC PACKAGING HOLDING CO | GPK | Consumer Cyclical | 0.94% | 4,528,554 | +1,926,978 | +74.07% | $68,200,052.00 |
| 25 | ZIMMER BIOMET HOLDINGS INC | ZBH | Healthcare | 0.90% | 728,498 | +146,719 | +25.22% | $65,506,589.00 |
| 26 | LIVE NATION ENTERTAINMENT INC | LYV | Communication Services | 0.88% | 447,113 | +214,709 | +92.39% | $63,713,601.00 |
| 27 | WALT DISNEY CO/THE | DIS | Communication Services | 0.85% | 546,064 | -49,851 | -8.37% | $62,125,705.00 |
| 28 | SAP SE | SAP | Technology | 0.84% | 250,748 | +57,000 | +29.42% | $60,909,191.00 |
| 29 | KONINKLIJKE PHILIPS NV | PHG | Healthcare | 0.82% | 2,198,531 | +240,419 | +12.28% | $59,536,221.00 |
| 30 | CITIZENS FINANCIAL GROUP INC | CFG | Financial Services | 0.82% | 1,014,186 | -75,874 | -6.96% | $59,238,608.00 |
| 31 | BP PLC | BP | Energy | 0.78% | 1,640,680 | +57,295 | +3.62% | $56,980,805.00 |
| 32 | WHIRLPOOL CORP | WHR | Consumer Cyclical | 0.76% | 761,228 | +144,189 | +23.37% | $54,915,013.00 |
| 33 | NATIONAL GRID PLC | NGG | Utilities | 0.76% | 709,485 | +38,342 | +5.71% | $54,878,695.00 |
| 34 | JOYY INC | YY | Communication Services | 0.72% | 812,601 | +22,541 | +2.85% | $52,624,041.00 |
| 35 | PFIZER INC | PFE | Healthcare | 0.72% | 2,091,719 | +19,672 | +0.95% | $52,083,825.00 |
| 36 | SANOFI SA | SNY | Healthcare | 0.71% | 1,063,958 | +84,641 | +8.64% | $51,559,385.00 |
| 37 | APTIV PLC | APTV | Other | 0.70% | 668,620 | -54,223 | -7.50% | $50,875,312.00 |
| 38 | NOVO NORDISK A/S | NVO | Healthcare | 0.70% | 993,850 | +297,871 | +42.80% | $50,567,080.00 |
| 39 | RELX PLC | RELX | Industrials | 0.66% | 1,189,379 | +466,218 | +64.47% | $48,074,714.00 |
| 40 | INGERSOLL RAND INC | IR | Industrials | 0.65% | 596,771 | +40,542 | +7.29% | $47,276,237.00 |
| 41 | PRUDENTIAL PLC | PUK | Financial Services | 0.65% | 1,508,912 | +33,473 | +2.27% | $46,957,340.00 |
| 42 | ANHEUSER-BUSCH INBEV SA/NV | BUD | Consumer Defensive | 0.62% | 701,343 | +91,657 | +15.03% | $44,914,007.00 |
| 43 | INFOSYS LTD | INFY | Technology | 0.61% | 2,482,318 | +2,198,391 | +774.28% | $44,234,907.00 |
| 44 | PDD HOLDINGS INC | PDD | Consumer Cyclical | 0.58% | 371,241 | +61,600 | +19.89% | $42,095,017.00 |
| 45 | DIAGEO PLC | DEO | Consumer Defensive | 0.58% | 485,288 | +18,422 | +3.95% | $41,865,780.00 |
| 46 | PAGSEGURO DIGITAL LTD | G68707101 | Other | 0.54% | 4,045,457 | +153,332 | +3.94% | $38,998,205.00 |
| 47 | ANGLOGOLD ASHANTI PLC | AU | Other | 0.52% | 434,260 | +235,747 | +118.76% | $37,559,428.00 |
| 48 | BOOZ ALLEN HAMILTON HOLDING CORP | BAH | Industrials | 0.46% | 396,332 | +396,332 | +100.00% | $33,434,560.00 |
| 49 | BOEING CO/THE | BA | Industrials | 0.45% | 151,928 | -150,822 | -49.82% | $32,986,712.00 |
| 50 | ISHARES MSCI INDIA SMALL-CAP ETF | SMIN | Other | 0.44% | 458,977 | +91,457 | +24.88% | $32,087,082.00 |
| 51 | SHINHAN FINANCIAL GROUP CO LTD | SHG | Financial Services | 0.43% | 579,796 | +13,821 | +2.44% | $31,094,467.00 |
| 52 | WEIBO CORP | WB | Communication Services | 0.42% | 2,992,234 | +39,985 | +1.35% | $30,580,631.00 |
| 53 | TENCENT MUSIC ENTERTAINMENT GROUP | TME | Communication Services | 0.41% | 1,689,576 | -598,142 | -26.15% | $29,618,267.00 |
| 54 | NATWEST GROUP PLC | NWG | Financial Services | 0.38% | 1,587,264 | +151,301 | +10.54% | $27,777,120.00 |
| 55 | ING GROEP NV | ING | Financial Services | 0.38% | 982,006 | -616,240 | -38.56% | $27,496,176.00 |
| 56 | BRITISH AMERICAN TOBACCO PLC | BTI | Consumer Defensive | 0.38% | 483,138 | +24,435 | +5.33% | $27,355,283.00 |
| 57 | ALLY FINANCIAL INC | ALLY | Financial Services | 0.37% | 600,850 | -35,319 | -5.55% | $27,212,492.00 |
| 58 | GERDAU SA | GGB | Basic Materials | 0.37% | 7,259,433 | +70,163 | +0.98% | $26,787,308.00 |
| 59 | VANGUARD FTSE DEVELOPED MARKETS ETF | VEA | Other | 0.36% | 421,392 | -87,112 | -17.13% | $26,324,368.00 |
| 60 | ZIM INTEGRATED SHIPPING SERVICES LTD | M9T951109 | Other | 0.35% | 1,213,006 | +130,365 | +12.04% | $25,752,117.00 |
| 61 | QFIN HOLDINGS INC | QFIN | Financial Services | 0.35% | 1,306,636 | +15,426 | +1.19% | $25,178,876.00 |
| 62 | SUMITOMO MITSUI FINANCIAL GROUP INC | SMFG | Financial Services | 0.31% | 1,177,274 | +376,371 | +46.99% | $22,756,711.00 |
| 63 | CELESTICA INC | CLS | Technology | 0.30% | 73,302 | -27,368 | -27.19% | $21,711,724.00 |
| 64 | ISHARES MSCI INDIA ETF | INDA | Other | 0.29% | 386,205 | -667,800 | -63.36% | $20,874,380.00 |
| 65 | JONES LANG LASALLE INC | JLL | Real Estate | 0.28% | 59,456 | -35,254 | -37.22% | $20,005,257.00 |
| 66 | SMITH & NEPHEW PLC | SNN | Healthcare | 0.27% | 603,812 | +31,280 | +5.46% | $19,811,070.00 |
| 67 | VIPSHOP HOLDINGS LTD | VIPS | Consumer Cyclical | 0.27% | 1,089,598 | +12,862 | +1.19% | $19,274,989.00 |
| 68 | BXP INC | BXP | Real Estate | 0.25% | 272,049 | -19,458 | -6.67% | $18,357,845.00 |
| 69 | CENTERRA GOLD INC | CGAU | Basic Materials | 0.25% | 1,249,789 | +386,412 | +44.76% | $18,016,291.00 |
| 70 | ARCELORMITTAL SA | MT | Basic Materials | 0.24% | 384,849 | -201,982 | -34.42% | $17,537,563.00 |
| 71 | HDFC BANK LTD | HDB | Financial Services | 0.21% | 422,279 | +37,093 | +9.63% | $15,430,075.00 |
| 72 | FINVOLUTION GROUP | FINV | Financial Services | 0.20% | 2,761,927 | -72,856 | -2.57% | $14,444,878.00 |
| 73 | ICICI BANK LTD | IBN | Financial Services | 0.20% | 477,060 | +32,400 | +7.29% | $14,216,388.00 |
| 74 | ISHARES MSCI TAIWAN ETF | EWT | Other | 0.17% | 190,341 | +179,241 | +1614.78% | $12,092,364.00 |
| 75 | MILLICOM INTERNATIONAL CELLULAR SA | TIGO | Other | 0.16% | 215,950 | +177,950 | +468.29% | $11,972,268.00 |
| 76 | VALE SA | VALE | Basic Materials | 0.16% | 904,000 | +852,787 | +1665.18% | $11,779,120.00 |
| 77 | ISHARES MSCI SOUTH KOREA ETF | EWY | Other | 0.15% | 110,800 | -111,095 | -50.07% | $10,771,976.00 |
| 78 | VANGUARD FTSE ALL WORLD EX-US SMALL-CAP ETF | VSS | Other | 0.14% | 72,930 | -17,297 | -19.17% | $10,453,057.00 |
| 79 | FORTUNA MINING CORP | FSM | Basic Materials | 0.12% | 863,628 | +747,761 | +645.36% | $8,474,045.00 |
| 80 | ISHARES MSCI EAFE ETF | EFA | Other | 0.11% | 83,004 | -4,876,663 | -98.33% | $7,970,908.00 |
| 81 | HELLO GROUP INC | MOMO | Communication Services | 0.08% | 889,397 | -1,904,950 | -68.17% | $5,825,550.00 |
| 82 | MAKEMYTRIP LTD | MMYT | Other | 0.08% | 68,159 | -14,160 | -17.20% | $5,597,217.00 |
| 83 | VANGUARD FTSE EMERGING MARKETS ETF | VWO | Other | 0.04% | 60,561 | +53,412 | +747.13% | $3,255,759.00 |
| 84 | ISHARES MSCI WORLD ETF | URTH | Other | 0.03% | 10,631 | +4,480 | +72.83% | $1,974,921.00 |
| 85 | GSK PLC | GSK | Healthcare | 0.02% | 33,897 | -1,143,104 | -97.12% | $1,662,321.00 |
| 86 | ISHARES MSCI SOUTH AFRICA ETF | EZA | Other | 0.02% | 22,500 | +22,500 | +100.00% | $1,548,000.00 |
| 87 | ISHARES MSCI ACWI ETF | ACWI | Other | 0.02% | 10,935 | +1,508 | +16.00% | $1,547,207.00 |
| 88 | WIPRO LTD | WIT | Technology | 0.02% | 473,301 | -2,430 | -0.51% | $1,344,175.00 |
| 89 | ENERFLEX LTD | EFXT | Energy | 0.02% | 73,432 | +73,432 | +100.00% | $1,133,555.00 |
| 90 | VANGUARD FTSE ALL-WORLD EX-US ETF | VEU | Other | 0.01% | 14,484 | +4,824 | +49.94% | $1,065,423.00 |
| 91 | INMODE LTD | M5425M103 | Other | 0.01% | 71,829 | +23,336 | +48.12% | $1,055,168.00 |
| 92 | XTRACKERS HARVEST CSI 300 CHINA A-SHARES ETF | ASHR | Other | 0.01% | 28,800 | -555,859 | -95.07% | $946,080.00 |
| 93 | ITURAN LOCATION AND CONTROL LTD | M6158M104 | Other | 0.01% | 20,439 | - | - | $879,081.00 |
| 94 | NVIDIA CORP | NVDA | Technology | 0.01% | 3,758 | -47 | -1.24% | $700,867.00 |
| 95 | MICROSOFT CORP | MSFT | Technology | 0.01% | 965 | +25 | +2.66% | $466,693.00 |
| 96 | ISHARES MSCI BRAZIL ETF | EWZ | Other | 0.01% | 13,800 | +13,800 | +100.00% | $438,426.00 |
| 97 | B2GOLD CORP | BTG | Basic Materials | 0.01% | 94,491 | - | - | $426,011.00 |
| 98 | JBS NV | N4732M103 | Other | 0.00% | 20,994 | -5,303 | -20.17% | $302,733.00 |
| 99 | BROADCOM INC | AVGO | Technology | 0.00% | 827 | -35,762 | -97.74% | $286,225.00 |
| 100 | NOVARTIS AG | NVS | Healthcare | 0.00% | 1,935 | -119 | -5.79% | $266,788.00 |
Holdings by Sector
| Sector | Allocation | Value |
|---|---|---|
| Other | 30.08% | $2,185,518,563.00 |
| Consumer Cyclical | 19.23% | $1,397,501,689.00 |
| Industrials | 17.35% | $1,260,404,053.00 |
| Healthcare | 8.20% | $595,669,359.00 |
| Financial Services | 6.72% | $488,640,952.00 |
| Technology | 6.68% | $485,584,165.00 |
| Communication Services | 5.97% | $433,458,196.00 |
| Basic Materials | 2.12% | $153,796,516.00 |
| Consumer Defensive | 1.57% | $114,135,070.00 |
| Energy | 0.80% | $58,350,822.00 |
| Utilities | 0.76% | $55,063,530.00 |
| Real Estate | 0.53% | $38,435,363.00 |
Portfolio insights
As of Dec 31, 2025, the Causeway Capital Management portfolio holds 106 securities valued at $7,266,558,278.00. The Other sector represents the largest allocation, while the top positions account for a significant portion of the total portfolio weight.