Q4 2025 · 13F-HR
CAUSEWAY CAPITAL MANAGEMENT LLCholdings as filed
Filed 2026-02-13 · accession 0000945621-26-000303
$7.27B
Reported value
108
Positions
2025-12-31
Period end
The Brief · CAUSEWAY CAPITAL MANAGEMENT LLC · Q4 2025
AI · grounded in 13F
CAUSEWAY CAPITAL MANAGEMENT LLC closed its position in NTES, reducing its holdings by $97.02M. The fund established new positions in ALK for $72.16M and BAH for $33.43M. Additionally, the manager increased its stake in INFY by 774.28% and SW by 154.33%.
Holdings as filed
| CUSIP | Ticker | Issuer | Value | % port. | Shares | Class | Voting |
|---|---|---|---|---|---|---|---|
| 143658300 | CCL1EUR | CARNIVAL CORP | $1.04B | 14.3% | 33,944,782 | Common | SOLE |
| 13646K108 | CP | CANADIAN PACIFIC KANSAS CITY LTD | $928.6M | 12.8% | 12,596,802 | Common | SOLE |
| G8267P108 | SW | SMURFIT WESTROCK PLC | $739.9M | 10.2% | 19,132,879 | Common | SOLE |
| D18190898 | DB | DEUTSCHE BANK AG | $551.7M | 7.59% | 14,194,354 | Common | SOLE |
| 06849F108 | B | BARRICK MINING CORP | $264.5M | 3.64% | 6,093,395 | Common | SOLE |
| 01609W102 | BABA | ALIBABA GROUP HOLDING LTD | $176.3M | 2.43% | 1,203,049 | Common | SOLE |
| 874039100 | TSM | TAIWAN SEMICONDUCTOR MANUFACTURING CO LTD | $155.5M | 2.14% | 511,720 | Common | SOLE |
| 192446102 | CTSH | COGNIZANT TECHNOLOGY SOLUTIONS CORP | $128.8M | 1.77% | 1,552,361 | Common | SOLE |
| 02079K107 | GOOG | ALPHABET INC | $116.1M | 1.60% | 370,001 | Common | SOLE |
| 58933Y105 | MRK | MERCK & CO INC | $110.0M | 1.51% | 1,044,617 | Common | SOLE |
| 14448C104 | CARR | CARRIER GLOBAL CORP | $97.7M | 1.34% | 1,848,827 | Common | SOLE |
| G3922B107 | G | GENPACT LTD | $97.5M | 1.34% | 2,084,209 | Common | SOLE |
| 06738E204 | BCS | BARCLAYS PLC | $95.5M | 1.31% | 3,750,607 | Common | SOLE |
| 046353108 | AZNN | ASTRAZENECA PLC | $92.9M | 1.28% | 1,010,898 | Common | SOLE |
| 09062X103 | BIIB | BIOGEN INC | $91.7M | 1.26% | 521,101 | Common | SOLE |
| 172967424 | C | CITIGROUP INC | $81.4M | 1.12% | 697,445 | Common | SOLE |
| G3223R108 | EG | EVEREST GROUP LTD | $81.0M | 1.11% | 238,558 | Common | SOLE |
| G0692U109 | AXS | AXIS CAPITAL HOLDINGS LTD | $77.2M | 1.06% | 721,221 | Common | SOLE |
| 30303M102 | META | META PLATFORMS INC | $72.9M | 1.00% | 110,385 | Common | SOLE |
| 011659109 | ALK | ALASKA AIR GROUP INC | $72.2M | 0.99% | 1,434,517 | Common | SOLE |
| 032654105 | ADI | ANALOG DEVICES INC | $71.3M | 0.98% | 263,030 | Common | SOLE |
| 38059T106 | GFI | GOLD FIELDS LTD | $70.8M | 0.97% | 1,621,076 | Common | SOLE |
| G2519Y108 | BAP | CREDICORP LTD | $69.5M | 0.96% | 242,024 | Common | SOLE |
| 388689101 | GPK | GRAPHIC PACKAGING HOLDING CO | $68.2M | 0.94% | 4,528,554 | Common | SOLE |
| 98956P102 | ZBH | ZIMMER BIOMET HOLDINGS INC | $65.5M | 0.90% | 728,498 | Common | SOLE |
| 538034109 | LYV | LIVE NATION ENTERTAINMENT INC | $63.7M | 0.88% | 447,113 | Common | SOLE |
| 254687106 | DIS | WALT DISNEY CO/THE | $62.1M | 0.85% | 546,064 | Common | SOLE |
| 803054204 | SAP | SAP SE | $60.9M | 0.84% | 250,748 | Common | SOLE |
| 500472303 | PHG | KONINKLIJKE PHILIPS NV | $59.5M | 0.82% | 2,198,531 | Common | SOLE |
| 174610105 | CFG | CITIZENS FINANCIAL GROUP INC | $59.2M | 0.82% | 1,014,186 | Common | SOLE |
| 055622104 | BP | BP PLC | $57.0M | 0.78% | 1,640,680 | Common | SOLE |
| 963320106 | WHR | WHIRLPOOL CORP | $54.9M | 0.76% | 761,228 | Common | SOLE |
| 636274409 | NGG | NATIONAL GRID PLC | $54.9M | 0.76% | 709,485 | Common | SOLE |
| 46591M109 | JOYY | JOYY INC | $52.6M | 0.72% | 812,601 | Common | SOLE |
| 717081103 | PFE | PFIZER INC | $52.1M | 0.72% | 2,091,719 | Common | SOLE |
| 80105N105 | SNY | SANOFI SA | $51.6M | 0.71% | 1,063,958 | Common | SOLE |
| G3265R107 | APTV | APTIV PLC | $50.9M | 0.70% | 668,620 | Common | SOLE |
| 670100205 | NVO | NOVO NORDISK A/S | $50.6M | 0.70% | 993,850 | Common | SOLE |
| 759530108 | RELX | RELX PLC | $48.1M | 0.66% | 1,189,379 | Common | SOLE |
| 45687V106 | IR | INGERSOLL RAND INC | $47.3M | 0.65% | 596,771 | Common | SOLE |
| 74435K204 | PUK | PRUDENTIAL PLC | $47.0M | 0.65% | 1,508,912 | Common | SOLE |
| 03524A108 | BUD | ANHEUSER-BUSCH INBEV SA/NV | $44.9M | 0.62% | 701,343 | Common | SOLE |
| 456788108 | INFY | INFOSYS LTD | $44.2M | 0.61% | 2,482,318 | Common | SOLE |
| 722304102 | PDD | PDD HOLDINGS INC | $42.1M | 0.58% | 371,241 | Common | SOLE |
| 25243Q205 | DEO | DIAGEO PLC | $41.9M | 0.58% | 485,288 | Common | SOLE |
| G68707101 | PAGS | PAGSEGURO DIGITAL LTD | $39.0M | 0.54% | 4,045,457 | Common | SOLE |
| G0378L100 | AU | ANGLOGOLD ASHANTI PLC | $37.6M | 0.52% | 434,260 | Common | SOLE |
| 099502106 | BAH | BOOZ ALLEN HAMILTON HOLDING CORP | $33.4M | 0.46% | 396,332 | Common | SOLE |
| 097023105 | BA | BOEING CO/THE | $33.0M | 0.45% | 151,928 | Common | SOLE |
| 46429B614 | SMIN | ISHARES MSCI INDIA SMALL-CAP ETF | $32.1M | 0.44% | 458,977 | Common | SOLE |
| 824596100 | SHG | SHINHAN FINANCIAL GROUP CO LTD | $31.1M | 0.43% | 579,796 | Common | SOLE |
| 948596101 | WB | WEIBO CORP | $30.6M | 0.42% | 2,992,234 | Common | SOLE |
| 88034P109 | TME | TENCENT MUSIC ENTERTAINMENT GROUP | $29.6M | 0.41% | 1,689,576 | Common | SOLE |
| 639057207 | NWG | NATWEST GROUP PLC | $27.8M | 0.38% | 1,587,264 | Common | SOLE |
| 456837103 | ING | ING GROEP NV | $27.5M | 0.38% | 982,006 | Common | SOLE |
| 110448107 | BTI | BRITISH AMERICAN TOBACCO PLC | $27.4M | 0.38% | 483,138 | Common | SOLE |
| 02005N100 | ALLY | ALLY FINANCIAL INC | $27.2M | 0.37% | 600,850 | Common | SOLE |
| 373737105 | GGB | GERDAU SA | $26.8M | 0.37% | 7,259,433 | Common | NONE |
| 921943858 | VEA | VANGUARD FTSE DEVELOPED MARKETS ETF | $26.3M | 0.36% | 421,392 | Common | SOLE |
| M9T951109 | ZIM | ZIM INTEGRATED SHIPPING SERVICES LTD | $25.8M | 0.35% | 1,213,006 | Common | SOLE |
| 88557W101 | QFIN | QFIN HOLDINGS INC | $25.2M | 0.35% | 1,306,636 | Common | SOLE |
| 86562M209 | SMFG | SUMITOMO MITSUI FINANCIAL GROUP INC | $22.8M | 0.31% | 1,177,274 | Common | SOLE |
| 15101Q207 | CLS | CELESTICA INC | $21.7M | 0.30% | 73,302 | Common | SOLE |
| 46429B598 | INDA | ISHARES MSCI INDIA ETF | $20.9M | 0.29% | 386,205 | Common | SOLE |
| 48020Q107 | JLL | JONES LANG LASALLE INC | $20.0M | 0.28% | 59,456 | Common | SOLE |
| 83175M205 | SNN | SMITH & NEPHEW PLC | $19.8M | 0.27% | 603,812 | Common | SOLE |
| 92763W103 | VIPS | VIPSHOP HOLDINGS LTD | $19.3M | 0.27% | 1,089,598 | Common | SOLE |
| 101121101 | BXP | BXP INC | $18.4M | 0.25% | 272,049 | Common | SOLE |
| 152006102 | CGAU | CENTERRA GOLD INC | $18.0M | 0.25% | 1,249,789 | Common | SOLE |
| 03938L203 | MT | ARCELORMITTAL SA | $17.5M | 0.24% | 384,849 | Common | SOLE |
| 40415F101 | HDB | HDFC BANK LTD | $15.4M | 0.21% | 422,279 | Common | SOLE |
| 31810T101 | FINV | FINVOLUTION GROUP | $14.4M | 0.20% | 2,761,927 | Common | SOLE |
| 45104G104 | IBN | ICICI BANK LTD | $14.2M | 0.20% | 477,060 | Common | SOLE |
| 46434G772 | EWT | ISHARES MSCI TAIWAN ETF | $12.1M | 0.17% | 190,341 | Common | SOLE |
| L6388F110 | TIGO | MILLICOM INTERNATIONAL CELLULAR SA | $12.0M | 0.16% | 215,950 | Common | SOLE |
| 91912E105 | VALE | VALE SA | $11.8M | 0.16% | 904,000 | Common | NONE |
| 464286772 | EWY | ISHARES MSCI SOUTH KOREA ETF | $10.8M | 0.15% | 110,800 | Common | SOLE |
| 922042718 | VSS | VANGUARD FTSE ALL WORLD EX-US SMALL-CAP ETF | $10.5M | 0.14% | 72,930 | Common | SOLE |
| 349942102 | FSM | FORTUNA MINING CORP | $8.5M | 0.12% | 863,628 | Common | SOLE |
| 464287465 | EFA | ISHARES MSCI EAFE ETF | $8.0M | 0.11% | 83,004 | Common | SOLE |
| 423403104 | MOMO | HELLO GROUP INC | $5.8M | 0.08% | 889,397 | Common | SOLE |
| V5633W109 | MMYT | MAKEMYTRIP LTD | $5.6M | 0.08% | 68,159 | Common | SOLE |
| 922042858 | VWO | VANGUARD FTSE EMERGING MARKETS ETF | $3.3M | 0.04% | 60,561 | Common | SOLE |
| 464286392 | URTH | ISHARES MSCI WORLD ETF | $2.0M | 0.03% | 10,631 | Common | SOLE |
| 37733W204 | GSK | GSK PLC | $1.7M | 0.02% | 33,897 | Common | SOLE |
| 464286780 | EZA | ISHARES MSCI SOUTH AFRICA ETF | $1.5M | 0.02% | 22,500 | Common | SOLE |
| 464288257 | ACWI | ISHARES MSCI ACWI ETF | $1.5M | 0.02% | 10,935 | Common | SOLE |
| 387437205 | GRTUF | GRANITE REAL ESTATE INVESTMENT TRUST | $1.4M | 0.02% | 23,700 | Common | SOLE |
| 97651M109 | WIT | WIPRO LTD | $1.3M | 0.02% | 473,301 | Common | SOLE |
| 29269R105 | EFXT | ENERFLEX LTD | $1.1M | 0.02% | 73,432 | Common | SOLE |
| 922042775 | VEU | VANGUARD FTSE ALL-WORLD EX-US ETF | $1.1M | 0.01% | 14,484 | Common | SOLE |
| M5425M103 | INMD | INMODE LTD | $1.1M | 0.01% | 71,829 | Common | SOLE |
| 233051879 | ASHR | XTRACKERS HARVEST CSI 300 CHINA A-SHARES ETF | $946,080 | 0.01% | 28,800 | Common | SOLE |
| M6158M104 | ITRN | ITURAN LOCATION AND CONTROL LTD | $879,081 | 0.01% | 20,439 | Common | SOLE |
| 67066G104 | NVDA | NVIDIA CORP | $700,867 | 0.01% | 3,758 | Common | SOLE |
| 594918104 | MSFT | MICROSOFT CORP | $466,693 | 0.01% | 965 | Common | SOLE |
| 464286400 | EWZ | ISHARES MSCI BRAZIL ETF | $438,426 | 0.01% | 13,800 | Common | SOLE |
| 11777Q209 | BTG | B2GOLD CORP | $426,011 | 0.01% | 94,491 | Common | SOLE |
| N4732M103 | JBS | JBS NV | $302,733 | 0.00% | 20,994 | Common | SOLE |
| 11135F101 | AVGO | BROADCOM INC | $286,225 | 0.00% | 827 | Common | SOLE |
| 66987V109 | NVS | NOVARTIS AG | $266,788 | 0.00% | 1,935 | Common | SOLE |
| 037833100 | AAPL | APPLE INC | $244,130 | 0.00% | 898 | Common | SOLE |
| 74022D407 | PDS | PRECISION DRILLING CORP | $236,462 | 0.00% | 3,291 | Common | SOLE |
| 199908104 | FIX | COMFORT SYSTEMS USA INC | $226,789 | 0.00% | 243 | Common | SOLE |
| G7496G103 | RNR | RENAISSANCERE HOLDINGS LTD | $200,186 | 0.00% | 712 | Common | SOLE |
| 500631106 | KEP | KOREA ELECTRIC POWER CORP | $184,835 | 0.00% | 11,202 | Common | SOLE |
| 74587V107 | PBYI | PUMA BIOTECHNOLOGY INC | $79,195 | 0.00% | 13,310 | Common | SOLE |
| 866082100 | INN | SUMMIT HOTEL PROPERTIES INC | $72,261 | 0.00% | 14,838 | Common | SOLE |
Source: SEC EDGAR · raw 13F holdings as filed. The Class column shows the option type when reported (Put/Call) or Common when the issuer's equity is held directly. 13F discloses long positions only.