In plain English: this page lists every stock Causeway's fund told the SEC it owned at the end of the quarter, biggest first, and what changed since the quarter before — "New" means they bought it for the first time, "Sold" means they sold all of it. The list is at least 6 weeks old, and it is only part of their investments (no cash, bonds or bets against stocks).
Educational and informational only, not personalized investment advice. Based on public filings that may be delayed or contain errors; verify with the original filings. Disclaimer
Reported value ⓘTotal of long stock positions in this 13F. Options are listed separately and not included.
$9.24B
Q2 2026
Quarter change
+13.4%
vs Q1 2026 ($8.15B)
Holdings
122
Top-10 weight 65.3%
Activity
23 new · 8 sold out
48 added to · 46 trimmed
Investing style at a glance · Q2 2026
- Concentrated: 122 stocks, with 65.3% of the portfolio in the 10 largest.
- Biggest sector: Industrials (27.1% of the portfolio).
- Turnover this quarter: moderate — 23 new positions and 8 sold out (48 added to, 46 trimmed).
- Largest position: AZN at 19.0% of the portfolio.
Worked out from this 13F only (long stock positions). ⓘConcentration: The share of a portfolio in its 10 largest positions. High = a few big bets; low = spread out. Guide ⓘTurnover: How many positions were opened or closed this quarter compared with the number held. Guide
Portfolio value over time
Reported 13F value per quarter
Sector allocation
Q2 2026
- Industrials27.1%
- Health Care25.5%
- Financials19.3%
- Materials9.8%
- Information Technology6.7%
- Communication Services2.9%
- Consumer Discretionary2.6%
- ETFs & Funds1.5%
- Consumer Staples1.5%
- Real Estate1.1%
- Utilities1.1%
- Energy0.9%
Top holdings over time
Share of the portfolio each quarter (current top 5)
Quarter-by-quarter activity
Positions bought (new or added) vs sold (trimmed or exited)
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Column filters
| Ticker | Company | Sector | Shares | Value ↓ | % of portfolio | Change | Δ shares | Δ shares % | Est. Δ value ⓘChange in shares × this quarter's price |
|---|---|---|---|---|---|---|---|---|---|
| AZN | Astrazeneca plc | Health Care | 9.36M | $1.75B | 19.0% | Added | +1.9M | +26.1% | +$362.32M |
| CCL | Carnival Corp Ltd | Industrials | 41.19M | $1.18B | 12.7% | New | +41.2M | — | +$1.18B |
| DB | Deutsche Bank Aktiengesellschaft | Financials | 29.36M | $994.16M | 10.8% | Added | +4.4M | +17.6% | +$148.87M |
| SW | Smurfit Westrock plc | Materials | 15.04M | $695.71M | 7.5% | Reduced | -527.0K | -3.4% | -$24.38M |
| CP | Canadian Pacific Kansas City Ltd | Industrials | 6.71M | $581.66M | 6.3% | Reduced | -2.1M | -23.7% | -$180.34M |
| TSM | Taiwan Semiconductor Manufacturing Co Ltd | Information Technology | 532.05K | $254.09M | 2.8% | Added | +23.6K | +4.6% | +$11.26M |
| ALK | Alaska Air Group, Inc | Industrials | 3.18M | $166.16M | 1.8% | Added | +681.0K | +27.2% | +$35.55M |
| CARR | Carrier Global Corp | Industrials | 2.18M | $159.79M | 1.7% | Added | +75.6K | +3.6% | +$5.55M |
| LYV | Live Nation Entertainment, Inc | Consumer Discretionary | 706.30K | $129.33M | 1.4% | Added | +179.9K | +34.2% | +$32.94M |
| MRK | Merck & Co., Inc | Health Care | 954.93K | $122.71M | 1.3% | Added | +100.7K | +11.8% | +$12.94M |
| META | Meta Platforms, Inc (Class A) | Communication Services | 201.46K | $113.48M | 1.2% | Added | +56.7K | +39.1% | +$31.92M |
| GOOG | Alphabet Inc (Class C) | Communication Services | 316.22K | $111.73M | 1.2% | Reduced | -21.1K | -6.2% | -$7.45M |
| BCS | Barclays plc | Financials | 3.98M | $106.79M | 1.2% | Reduced | -98.3K | -2.4% | -$2.64M |
| BAP | Credicorp Ltd | Financials | 255.44K | $99.51M | 1.1% | Added | +10.3K | +4.2% | +$4.02M |
| SAP | SAP SE | Information Technology | 629.80K | $97.06M | 1.1% | Added | +173.8K | +38.1% | +$26.78M |
| BABA | Alibaba Group Holding Ltd | Industrials | 995.04K | $95.50M | 1.0% | Reduced | -73.8K | -6.9% | -$7.09M |
| AXS | Axis Capital Holdings Ltd | Financials | 859.73K | $92.37M | 1.0% | Added | +43.9K | +5.4% | +$4.72M |
| EG | Everest Group, Ltd | Financials | 252.70K | $90.27M | 1.0% | Added | +2.7K | +1.1% | +$962.38K |
| IR | Ingersoll Rand Inc | Industrials | 1.03M | $84.75M | 0.9% | Added | +407.6K | +65.1% | +$33.42M |
| PHG | Koninklijke Philips NV | Health Care | 3.06M | $83.25M | 0.9% | Added | +605.8K | +24.7% | +$16.47M |
| NVO | Novo Nordisk A S | Health Care | 1.68M | $80.42M | 0.9% | Added | +503.4K | +42.9% | +$24.13M |
| JLL | Jones Lang Lasalle Inc | Real Estate | 248.25K | $76.95M | 0.8% | Added | +62.0K | +33.3% | +$19.21M |
| CFG | Citizens Financial Group Inc | Financials | 1.08M | $75.47M | 0.8% | Added | +28.6K | +2.7% | +$2.00M |
| NTES | NetEase, Inc | Information Technology | 572.41K | $73.35M | 0.8% | New | +572.4K | — | +$73.35M |
| DEO | Diageo plc | Consumer Staples | 899.01K | $72.26M | 0.8% | Added | +232.7K | +34.9% | +$18.70M |
| ZBH | Zimmer Biomet Holdings, Inc | Health Care | 788.81K | $67.91M | 0.7% | Reduced | -19.3K | -2.4% | -$1.66M |
| BA | Boeing Co | Industrials | 313.05K | $67.77M | 0.7% | Reduced | -878 | -0.3% | -$190.06K |
| C | Citigroup Inc | Financials | 458.86K | $64.22M | 0.7% | Reduced | -176.1K | -27.7% | -$24.64M |
| NWG | NatWest Group plc | Financials | 3.49M | $61.48M | 0.7% | Added | +499.0K | +16.7% | +$8.80M |
| BIIB | Biogen Inc | Health Care | 278.28K | $60.13M | 0.7% | Reduced | -2.5K | -0.9% | -$540.15K |
| GFI | Gold Fields Ltd | Materials | 1.71M | $57.55M | 0.6% | Added | +79.1K | +4.8% | +$2.66M |
| ADI | Analog Devices Inc | Information Technology | 142.05K | $56.42M | 0.6% | Reduced | -59.8K | -29.6% | -$23.74M |
| RELX | Relx plc | Industrials | 1.76M | $55.81M | 0.6% | Reduced | -544.1K | -23.6% | -$17.23M |
| AU | AngloGold Ashanti PLC | Materials | 688.03K | $55.74M | 0.6% | Reduced | -210.8K | -23.5% | -$17.08M |
| ING | ING Groep NV | Financials | 1.69M | $53.05M | 0.6% | Added | +152.9K | +9.9% | +$4.80M |
| BAH | Booz Allen Hamilton Holding Corp (Class A) | Industrials | 849.97K | $51.57M | 0.6% | Reduced | -7.5K | -0.9% | -$454.78K |
| TXN | Texas Instruments Inc | Information Technology | 166.50K | $49.63M | 0.5% | Reduced | -39.7K | -19.3% | -$11.84M |
| NGG | National Grid plc | Utilities | 590.24K | $48.91M | 0.5% | Added | +51.5K | +9.6% | +$4.27M |
| DTE | Dte Energy Co | Utilities | 320.53K | $48.84M | 0.5% | Reduced | -1.5K | -0.5% | -$226.88K |
| PFE | Pfizer Inc | Health Care | 1.92M | $46.16M | 0.5% | Added | +2.6K | +0.1% | +$62.17K |
| PBR.A | Petrobras - Petroleo Brasileiro SA | Energy | 3.10M | $45.33M | 0.5% | Added | +1.6M | +107.0% | +$23.44M |
| PUK | Prudential plc | Financials | 1.69M | $45.29M | 0.5% | Added | +368.1K | +27.9% | +$9.87M |
| SNN | Smith & Nephew plc | Health Care | 1.57M | $45.09M | 0.5% | Added | +612.0K | +64.2% | +$17.63M |
| TAL | TAL Education Group | Consumer Discretionary | 4.13M | $39.48M | 0.4% | Added | +647.0K | +18.6% | +$6.19M |
| SMIN | Ishares MSCI India Small-Cap | ETFs & Funds | 542.85K | $38.40M | 0.4% | Added | +71.2K | +15.1% | +$5.04M |
| UNH | Unitedhealth Group Inc | Health Care | 87.45K | $36.35M | 0.4% | Added | +15.6K | +21.7% | +$6.48M |
| DIS | Walt Disney Co | Communication Services | 360.60K | $34.71M | 0.4% | Reduced | -199.3K | -35.6% | -$19.18M |
| SNY | Sanofi | Health Care | 804.06K | $34.30M | 0.4% | Reduced | -260.5K | -24.5% | -$11.11M |
| BTI | British American Tobacco p.l.c. | Consumer Staples | 547.92K | $33.84M | 0.4% | Added | +47.1K | +9.4% | +$2.91M |
| SMFG | Sumitomo Mitsui Financial Group, Inc | Financials | 1.39M | $32.84M | 0.4% | Added | +125.4K | +9.9% | +$2.96M |
Column filters
| Ticker | Company | Sector | Shares sold | Value last quarter ↓ |
|---|---|---|---|---|
| — | Carnival Corp | Unclassified | -37.1M | $960.06M |
| WHR | Whirlpool Corp | Consumer Discretionary | -1.2M | $64.81M |
| APTV | Aptiv PLC | Consumer Discretionary | -683.5K | $47.46M |
| PDD | PDD Holdings Inc | Industrials | -237.0K | $24.22M |
| TME | Tencent Music Entertainment Group | Communication Services | -612.9K | $5.69M |
| QFIN | Qfin Holdings, Inc | Financials | -330.3K | $4.26M |
| EFXT | Enerflex Ltd | Industrials | -52.9K | $1.10M |
| JBS | JBS N.v. (Class A) | Consumer Staples | -21.0K | $377.05K |
13F filings on record (4)
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