Causeway Capital Management Portfolio
Causeway Capital Management 13F filer (CIK 0001165797).
Q2 2023 · 79 positions · Total reported value $3.78B · Top-10 concentration 54.8%
Turnover: 56.6% · 22 new · 44 cut · 7 exited
Active Share (vs S&P 500): 94.4% · vs QQQ: 96.4% — share of the book that differs from index weights (higher = more active) · ranking
In its Q2 2023 13F filing, Causeway Capital Management disclosed 79 equity positions with a combined reported value of $3.78B. The filing implies a moderately concentrated portfolio: its ten largest positions account for 54.8% of reported value. HoldingsHub classifies the profile as Mid / Consumer Tilt / High Turnover.
The largest disclosed positions as of Q2 2023 were RYAAY ($830.16M), CNI ($350.07M), UBS ($180.09M). By sector, the heaviest allocations are Consumer Discretionary 35.8%, Financials 16.8%. Versus the prior quarter, allocation shifted toward Health Care (+2.5pp), Energy (+1.3pp) and away from Technology (-2.1pp), Industrials (-3.1pp).
Versus the prior quarter, Causeway Capital Management opened 22 new positions, trimmed 44 and fully exited 7, a turnover rate of 56.6% of positions. The portfolio's overlap with the prior quarter was 80% of names.
Figures come from the fund's SEC Form 13F filing. 13F reports are filed within 45 days of quarter end and cover long positions of $100,000 or more; they exclude short positions and non-13F asset classes, so treat this page as a quarter-end snapshot rather than the fund's live book.
Sector Allocation
| # | Symbol | Company | Shares | Value | Weight | Change |
|---|---|---|---|---|---|---|
| 1 | RYAAY | RYANAIR HOLDINGS PLC | 7.51M | $830.16M | 21.99% | Reduce |
| 2 | CNI | CANADIAN NATL RY CO | 2.89M | $350.07M | 9.27% | Reduce |
| 3 | UBS | UBS GROUP AG | 8.90M | $180.09M | 4.77% | Reduce |
| 4 | BBD | BANCO BRADESCO S A | 44.67M | $154.55M | 4.09% | Reduce |
| 5 | TSM | TAIWAN SEMICONDUCTOR MANUFAC | 1.41M | $142.35M | 3.77% | Reduce |
| 6 | GOOG | ALPHABET INC | 821.43K | $99.37M | 2.63% | Reduce |
| 7 | FISV | FISERV INC | 651.77K | $82.22M | 2.18% | Reduce |
| 8 | BABA | ALIBABA GROUP HLDG LTD | 956.28K | $79.71M | 2.11% | Reduce |
| 9 | G | GENPACT LIMITED | 2.01M | $75.69M | 2.00% | Add |
| 10 | DIS | DISNEY WALT CO | 835.86K | $74.63M | 1.98% | Add |
| 11 | C | CITIGROUP INC | 1.49M | $68.60M | 1.82% | Add |
| 12 | WRK | WESTROCK CO | 2.11M | $61.39M | 1.63% | Hold |
| 13 | SNX | TD SYNNEX CORPORATION | 632.82K | $59.48M | 1.57% | Add |
| 14 | PDD | PDD HOLDINGS INC | 828.20K | $57.26M | 1.52% | Add |
| 15 | META | META PLATFORMS INC. CLASS A | 195.87K | $56.21M | 1.49% | Reduce |
| 16 | MDLZ | MONDELEZ INTL INC | 745.57K | $54.38M | 1.44% | Reduce |
| 17 | AVTR | AVANTOR INC | 2.58M | $53.08M | 1.41% | Add |
| 18 | LDOS | LEIDOS HOLDINGS INC | 558.90K | $49.45M | 1.31% | Add |
| 19 | VIPS | VIPSHOP HLDGS LTD | 2.98M | $49.23M | 1.30% | Reduce |
| 20 | BERY | BERRY GLOBAL GROUP INC | 749.13K | $48.20M | 1.28% | Reduce |
| 21 | ABBV | ABBVIE INC | 339.06K | $45.68M | 1.21% | New |
| 22 | JLL | JONES LANG LASALLE INCORPORATED | 287.02K | $44.72M | 1.18% | Add |
| 23 | TME | TENCENT MUSIC ENTMT GROUP | 6.05M | $44.67M | 1.18% | Reduce |
| 24 | DGX | QUEST DIAGNOSTICS INCORPORATED | 308.49K | $43.36M | 1.15% | New |
| 25 | GGB | GERDAU SA | 7.73M | $40.35M | 1.07% | Add |
| 26 | EXE | EXPAND ENERGY CORPORATION | 473.81K | $39.65M | 1.05% | Add |
| 27 | CARR | CARRIER GLOBAL CORPORATION | 754.10K | $37.49M | 0.99% | Reduce |
| 28 | CNXC | CONCENTRIX CORP | 458.88K | $37.05M | 0.98% | Reduce |
| 29 | CSX | CSX CORP | 996.81K | $33.99M | 0.90% | New |
| 30 | DQ | DAQO NEW ENERGY CORP | 855.78K | $33.97M | 0.90% | Add |
| 31 | QFIN | QFIN HOLDINGS INC | 1.96M | $33.79M | 0.90% | Reduce |
| 32 | SAP | SAP SE | 241.81K | $33.08M | 0.88% | Reduce |
| 33 | ZBH | ZIMMER BIOMET HOLDINGS INC | 226.02K | $32.91M | 0.87% | Reduce |
| 34 | PCG | PG&E CORP | 1.90M | $32.89M | 0.87% | Reduce |
| 35 | BP | BP PLC | 807.58K | $28.50M | 0.76% | Add |
| 36 | BCS | BARCLAYS PLC | 3.38M | $26.60M | 0.70% | Add |
| 37 | PUK | PRUDENTIAL PLC | 935.05K | $26.48M | 0.70% | Reduce |
| 38 | FINV | FINVOLUTION GROUP | 5.72M | $26.32M | 0.70% | Reduce |
| 39 | PHG | KONINKLIJKE PHILIPS N V | 1.16M | $25.20M | 0.67% | Add |
| 40 | RELX | RELX PLC | 743.29K | $24.85M | 0.66% | Add |
| 41 | MOMO | HELLO GROUP INC | 2.37M | $22.79M | 0.60% | Add |
| 42 | NVS | NOVARTIS AG | 225.55K | $22.76M | 0.60% | Reduce |
| 43 | ING | ING GROEP N.V. | 1.67M | $22.55M | 0.60% | Add |
| 44 | BIDU | BAIDU INC | 161.20K | $22.07M | 0.58% | Add |
| 45 | SNY | SANOFI SA | 372.07K | $20.05M | 0.53% | Add |
| 46 | DEO | DIAGEO PLC | 111.32K | $19.31M | 0.51% | Add |
| 47 | AZN | ASTRAZENECA PLC | 264.35K | $18.92M | 0.50% | Reduce |
| 48 | TAK | TAKEDA PHARMACEUTICAL CO LTD | 1.12M | $17.60M | 0.47% | Reduce |
| 49 | RIO | RIO TINTO PLC | 269.66K | $17.21M | 0.46% | Add |
| 50 | TSN | TYSON FOODS INC | 324.90K | $16.58M | 0.44% | New |