Causeway Capital Management 13F, Q1 2026
Sarah Ketterer · quarter ending 31 March 2026 · filed 14 May 2026 · SEC CIK 1165797
Common stock only: shares the fund reported owning at the quarter end, valued as filed.
Largest positions, Q1 2026
The 25 largest of 107 positions. Weights are against the whole filed book. Changes are in shares held, against the Q4 2025 filing.
| Company | Ticker | Value | % of book | vs Q4 2025 |
|---|---|---|---|---|
| ASTRAZENECA PLC | $1.44B | 17.7% | new | |
| CARNIVAL CORP | CCL1EUR | $960.06M | 11.8% | +9% shares |
| DEUTSCHE BANK AG | $723.33M | 8.9% | +76% shares | |
| CANADIAN PACIFIC KANSAS CITY LTD | CP | $689.86M | 8.5% | -30% shares |
| SMURFIT WESTROCK PLC | $620.31M | 7.6% | -19% shares | |
| TAIWAN SEMICONDUCTOR MANUFACTURING CO LTD | TSM | $171.84M | 2.1% | unchanged |
| ALIBABA GROUP HOLDING LTD | BABA | $134.10M | 1.6% | -11% shares |
| CARRIER GLOBAL CORP | CARR | $118.41M | 1.4% | +14% shares |
| MERCK & CO INC | MRK | $102.75M | 1.3% | -18% shares |
| ALPHABET INC | GOOG | $96.76M | 1.2% | -9% shares |
| COGNIZANT TECHNOLOGY SOLUTIONS CORP | CTSH | $92.29M | 1.1% | -3% shares |
| ALASKA AIR GROUP INC | ALK | $92.03M | 1.1% | +74% shares |
| ANGLOGOLD ASHANTI PLC | $86.24M | 1.1% | +107% shares | |
| BARCLAYS PLC | BCS | $86.21M | 1.1% | +9% shares |
| CREDICORP LTD | $83.14M | 1.0% | unchanged | |
| META PLATFORMS INC | META | $82.84M | 1.0% | +31% shares |
| AXIS CAPITAL HOLDINGS LTD | $82.73M | 1.0% | +13% shares | |
| EVEREST GROUP LTD | $81.72M | 1.0% | +5% shares | |
| LIVE NATION ENTERTAINMENT INC | LYV | $80.28M | 1.0% | +18% shares |
| SAP SE | SAP | $78.07M | 1.0% | +82% shares |
| RELX PLC | RELX | $76.46M | 0.9% | +94% shares |
| GOLD FIELDS LTD | GFI | $74.19M | 0.9% | unchanged |
| ZIMMER BIOMET HOLDINGS INC | ZBH | $73.07M | 0.9% | +11% shares |
| GENPACT LTD | $72.59M | 0.9% | -7% shares | |
| CITIGROUP INC | C | $72.01M | 0.9% | -9% shares |
What changed since Q4 2025
Against the Q4 2025 filing, Causeway Capital Management opened 13 new positions, added to 38, trimmed 43, left 13 unchanged and exited 14. Every position is compared, matched on its CUSIP; a change of 2% or less in shares counts as unchanged.
New positions
and 5 more
Exited
- AZNNwas $92.93M
- GPKwas $68.20M
- ALLYwas $27.21M
- VIPSwas $19.27M
- VALEwas $11.78M
- EWYwas $10.77M
- MOMOwas $5.83M
- URTHwas $1.97M
and 6 more
Other quarters
Source: SEC Form 13F-HR, accession 0000945621-26-000700, filed by CAUSEWAY CAPITAL MANAGEMENT LLC. Values are as filed and cover US-listed positions only; a 13F does not show short positions or holdings outside the US. A 13F may be filed up to 45 days after the quarter ends, so the fund may have traded since. Educational information, not financial advice.