2026 Q1 Portfolio Activity
In 2026 Q1, CAUSEWAY CAPITAL MANAGEMENT LLC maintained a portfolio of 121 distinct positions. The most significant new addition was ASTRAZENECA PLC, now representing 17.66% of the total fund value. They heavily accumulated shares in DEUTSCHE BANK AG, increasing the position by 75.9%. The fund also reduced its exposure to CANADIAN PACIFIC KANSAS CITY L by 30.2%.
Position History
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Total Positions
121
Quarter
2026 Q1
Top Holding
AZNCF (17.7%)
Top 10 Concentration
62.1%
Turnover Rate
23.4%
Sector HHI
0.18
Items per page:
Showing 1-50 of 121
CAUSEWAY CAPITAL MANAGEMENT LLC Full Holdings List — 2026 Q1
| Stock | History | Sector / Type | Port % | Prev % | Rank / Prev | Conviction | Change | % Change | Influence | Shares | Mkt Value | Avg Cost | Price Held | 1st Owned | Source | Source Date | Date Reported | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
|
AZNCF
ASTRAZENECA PLC
|
Unknown | 17.66% | — |
#1
Prev: #—
|
9.5 |
—
|
7,421,749 | — |
NEW
|
7,421,749 | $1,438,217,252 | 2026 Q1 | 13F Filing | 2026-03-31 | 2026-05-14 | |||
|
CCL
CARNIVAL CORP
|
Consumer Cyclical | 11.79% | 14.26% |
#2
1
Prev: #1
|
7.5 |
—
|
3,151,811 | 9.3% |
P
S
|
37,096,593 | $960,059,875 | 2013 Q2 | 13F Filing | 2026-03-31 | 2026-05-14 | |||
|
DB
DEUTSCHE BANK A...
|
Financial Services | 8.88% | 7.59% |
#3
1
Prev: #4
|
7.6 |
—
|
10,767,680 | 75.9% |
P
S
|
24,962,034 | $723,328,774 | 2025 Q1 | 13F Filing | 2026-03-31 | 2026-05-14 | |||
|
CP
CANADIAN PACIFI...
|
Industrials | 8.47% | 12.78% |
#4
2
Prev: #2
|
3.9 |
—
|
-3,804,421 | -30.2% |
P
S
|
8,792,381 | $689,859,836 | 2017 Q1 | 13F Filing | 2026-03-31 | 2026-05-14 | |||
|
SW
SMURFIT WESTROC...
|
Consumer Cyclical | 7.61% | 10.18% |
#5
2
Prev: #3
|
4.0 |
—
|
-3,566,851 | -18.6% |
P
S
|
15,566,028 | $620,306,256 | 2024 Q3 | 13F Filing | 2026-03-31 | 2026-05-14 | |||
|
TSM
TAIWAN SEMICOND...
|
Technology | 2.11% | 2.14% |
#6
1
Prev: #7
|
1.3 |
—
|
-3,249 | -0.6% |
P
S
|
508,471 | $171,837,774 | 2008 Q1 | 13F Filing | 2026-03-31 | 2026-05-14 | |||
|
BABA
ALIBABA GROUP H...
|
Consumer Cyclical | 1.65% | 2.43% |
#7
1
Prev: #6
|
1.2 |
—
|
-134,159 | -11.2% |
P
S
|
1,068,890 | $134,102,939 | 2015 Q4 | 13F Filing | 2026-03-31 | 2026-05-14 | |||
|
CARR
CARRIER GLOBAL ...
|
Industrials | 1.45% | 1.34% |
#8
3
Prev: #11
|
2.6 |
—
|
254,051 | 13.7% |
P
S
|
2,102,878 | $118,413,118 | 2020 Q4 | 13F Filing | 2026-03-31 | 2026-05-14 | |||
|
MRK
MERCK & CO INC
|
Healthcare | 1.26% | 1.51% |
#9
1
Prev: #10
|
1.0 |
—
|
-190,405 | -18.2% |
P
S
|
854,212 | $102,753,243 | 2019 Q1 | 13F Filing | 2026-03-31 | 2026-05-14 | |||
|
GOOG
ALPHABET INC
|
Communication Services | 1.19% | 1.60% |
#10
1
Prev: #9
|
1.0 |
—
|
-32,703 | -8.8% |
P
S
|
337,298 | $96,757,214 | 2020 Q3 | 13F Filing | 2026-03-31 | 2026-05-14 | |||
|
CTSH
COGNIZANT TECHN...
|
Technology | 1.13% | 1.77% |
#11
3
Prev: #8
|
1.0 |
—
|
-48,108 | -3.1% |
P
S
|
1,504,253 | $92,285,969 | 2024 Q2 | 13F Filing | 2026-03-31 | 2026-05-14 | |||
|
ALK
ALASKA AIR GROU...
|
Industrials | 1.13% | 0.99% |
#12
8
Prev: #20
|
3.5 |
—
|
1,067,694 | 74.4% |
P
S
|
2,502,211 | $92,031,362 | 2018 Q4 | 13F Filing | 2026-03-31 | 2026-05-14 | |||
|
AU
ANGLOGOLD ASHAN...
|
Basic Materials | 1.06% | 0.52% |
#13
34
Prev: #47
|
3.4 |
—
|
464,556 | 107.0% |
P
S
|
898,816 | $86,240,128 | 2019 Q3 | 13F Filing | 2026-03-31 | 2026-05-14 | |||
|
BCS
BARCLAYS PLC
|
Financial Services | 1.06% | 1.31% |
#14
1
Prev: #13
|
2.4 |
—
|
323,460 | 8.6% |
P
S
|
4,074,067 | $86,207,255 | 2011 Q4 | 13F Filing | 2026-03-31 | 2026-05-14 | |||
|
BAP
CREDICORP LTD
|
Financial Services | 1.02% | 0.96% |
#15
8
Prev: #23
|
0.9 |
—
|
3,089 | 1.3% |
P
S
|
245,113 | $83,137,427 | 2015 Q2 | 13F Filing | 2026-03-31 | 2026-05-14 | |||
|
META
META PLATFORMS ...
|
Communication Services | 1.02% | 1.00% |
#16
3
Prev: #19
|
2.9 |
—
|
34,414 | 31.2% |
P
S
|
144,799 | $82,844,021 | 2021 Q2 | 13F Filing | 2026-03-31 | 2026-05-14 | |||
|
AXS
AXIS CAPITAL HO...
|
Financial Services | 1.02% | 1.06% |
#17
1
Prev: #18
|
2.4 |
—
|
94,573 | 13.1% |
P
S
|
815,794 | $82,729,743 | 2024 Q3 | 13F Filing | 2026-03-31 | 2026-05-14 | |||
|
EG
EVEREST GROUP L...
|
Financial Services | 1.00% | 1.11% |
#18
1
Prev: #17
|
0.9 |
—
|
11,450 | 4.8% |
P
S
|
250,008 | $81,715,292 | 2025 Q3 | 13F Filing | 2026-03-31 | 2026-05-14 | |||
|
LYV
LIVE NATION ENT...
|
Communication Services | 0.99% | 0.88% |
#19
7
Prev: #26
|
2.4 |
—
|
79,305 | 17.7% |
P
S
|
526,418 | $80,284,017 | 2024 Q3 | 13F Filing | 2026-03-31 | 2026-05-14 | |||
|
SAP
SAP SE
|
Technology | 0.96% | 0.84% |
#20
8
Prev: #28
|
3.4 |
—
|
205,257 | 81.9% |
P
S
|
456,005 | $78,072,591 | 2011 Q4 | 13F Filing | 2026-03-31 | 2026-05-14 | |||
|
RELX
RELX PLC
|
Industrials | 0.94% | 0.66% |
#21
18
Prev: #39
|
3.4 |
—
|
1,117,030 | 93.9% |
P
S
|
2,306,409 | $76,457,451 | 2019 Q1 | 13F Filing | 2026-03-31 | 2026-05-14 | |||
|
GFI
GOLD FIELDS LTD
|
Basic Materials | 0.91% | 0.97% |
#22
Prev: #22
|
0.9 |
—
|
13,094 | 0.8% |
P
S
|
1,634,170 | $74,191,318 | 2008 Q4 | 13F Filing | 2026-03-31 | 2026-05-14 | |||
|
ZBH
ZIMMER BIOMET H...
|
Healthcare | 0.90% | 0.90% |
#23
2
Prev: #25
|
2.4 |
—
|
79,612 | 10.9% |
P
S
|
808,110 | $73,069,309 | 2018 Q2 | 13F Filing | 2026-03-31 | 2026-05-14 | |||
|
G
GENPACT LTD
|
Technology | 0.89% | 1.34% |
#24
12
Prev: #12
|
0.9 |
—
|
-135,532 | -6.5% |
P
S
|
1,948,677 | $72,588,251 | 2020 Q2 | 13F Filing | 2026-03-31 | 2026-05-14 | |||
|
C
CITIGROUP INC
|
Financial Services | 0.88% | 1.12% |
#25
9
Prev: #16
|
0.9 |
—
|
-62,514 | -9.0% |
P
S
|
634,931 | $72,007,582 | 2005 Q4 | 13F Filing | 2026-03-31 | 2026-05-14 | |||
|
PHG
KONINKLIJKE PHI...
|
Healthcare | 0.83% | 0.82% |
#26
3
Prev: #29
|
2.3 |
—
|
257,659 | 11.7% |
P
S
|
2,456,190 | $67,299,605 | 2005 Q4 | 13F Filing | 2026-03-31 | 2026-05-14 | |||
|
BAH
BOOZ ALLEN HAMI...
|
Industrials | 0.82% | 0.46% |
#27
21
Prev: #48
|
3.3 |
—
|
461,130 | 116.3% |
P
S
|
857,462 | $66,907,784 | 2025 Q4 | 13F Filing | 2026-03-31 | 2026-05-14 | |||
|
WHR
WHIRLPOOL CORP
|
Consumer Cyclical | 0.80% | 0.76% |
#28
4
Prev: #32
|
3.3 |
—
|
440,765 | 57.9% |
P
S
|
1,201,993 | $64,811,505 | 2005 Q4 | 13F Filing | 2026-03-31 | 2026-05-14 | |||
|
ADI
ANALOG DEVICES ...
|
Technology | 0.79% | 0.98% |
#29
8
Prev: #21
|
0.3 |
—
|
-61,211 | -23.3% |
P
S
|
201,819 | $64,206,674 | 2023 Q4 | 13F Filing | 2026-03-31 | 2026-05-14 | |||
|
CFG
CITIZENS FINANC...
|
Financial Services | 0.77% | 0.82% |
#30
Prev: #30
|
0.8 |
—
|
34,340 | 3.4% |
P
S
|
1,048,526 | $62,880,150 | 2023 Q2 | 13F Filing | 2026-03-31 | 2026-05-14 | |||
|
BA
BOEING CO/THE
|
Industrials | 0.77% | 0.45% |
#31
18
Prev: #49
|
3.3 |
—
|
161,998 | 106.6% |
P
S
|
313,926 | $62,480,674 | 2005 Q4 | 13F Filing | 2026-03-31 | 2026-05-14 | |||
|
JLL
JONES LANG LASA...
|
Real Estate | 0.70% | 0.28% |
#32
33
Prev: #65
|
3.3 |
—
|
126,818 | 213.3% |
P
S
|
186,274 | $56,686,819 | 2020 Q2 | 13F Filing | 2026-03-31 | 2026-05-14 | |||
|
DIS
WALT DISNEY CO/...
|
Communication Services | 0.66% | 0.85% |
#33
6
Prev: #27
|
0.8 |
—
|
13,818 | 2.5% |
P
S
|
559,882 | $53,961,450 | 2008 Q4 | 13F Filing | 2026-03-31 | 2026-05-14 | |||
|
PFE
PFIZER INC
|
Healthcare | 0.66% | 0.72% |
#34
1
Prev: #35
|
0.8 |
—
|
-177,500 | -8.5% |
P
S
|
1,914,219 | $53,751,301 | 2005 Q4 | 13F Filing | 2026-03-31 | 2026-05-14 | |||
|
BIIB
BIOGEN INC
|
Healthcare | 0.63% | 1.26% |
#35
20
Prev: #15
|
0.3 |
—
|
-240,318 | -46.1% |
P
S
|
280,783 | $51,475,885 | 2016 Q2 | 13F Filing | 2026-03-31 | 2026-05-14 | |||
|
SNY
SANOFI SA
|
Healthcare | 0.63% | 0.71% |
#36
Prev: #36
|
0.8 |
—
|
558 | 0.1% |
P
S
|
1,064,516 | $51,288,367 | 2005 Q4 | 13F Filing | 2026-03-31 | 2026-05-14 | |||
|
IR
INGERSOLL RAND ...
|
Industrials | 0.62% | 0.65% |
#37
3
Prev: #40
|
0.7 |
—
|
29,291 | 4.9% |
P
S
|
626,062 | $50,160,136 | 2025 Q2 | 13F Filing | 2026-03-31 | 2026-05-14 | |||
|
DEO
DIAGEO PLC
|
Consumer Defensive | 0.61% | 0.58% |
#38
7
Prev: #45
|
2.7 |
—
|
181,026 | 37.3% |
P
S
|
666,314 | $49,607,110 | 2005 Q4 | 13F Filing | 2026-03-31 | 2026-05-14 | |||
|
APTV
APTIV PLC
|
Consumer Cyclical | 0.58% | 0.70% |
#39
2
Prev: #37
|
0.7 |
—
|
14,843 | 2.2% |
P
S
|
683,463 | $47,459,726 | 2023 Q4 | 13F Filing | 2026-03-31 | 2026-05-14 | |||
|
VEA
VANGUARD FTSE D...
|
ETF | 0.58% | 0.36% |
#40
19
Prev: #59
|
3.2 |
—
|
315,245 | 74.8% |
P
S
|
736,637 | $47,203,675 | 2022 Q2 | 13F Filing | 2026-03-31 | 2026-05-14 | |||
|
DTE
DTE ENERGY CO
|
Utilities | 0.58% | — |
#41
Prev: #—
|
3.7 |
—
|
322,015 | — |
NEW
|
322,015 | $47,085,062 | 2026 Q1 | 13F Filing | 2026-03-31 | 2026-05-14 | |||
|
BP
BP PLC
|
Energy | 0.58% | 0.78% |
#42
11
Prev: #31
|
0.2 |
—
|
-642,746 | -39.2% |
P
S
|
997,934 | $46,902,923 | 2005 Q4 | 13F Filing | 2026-03-31 | 2026-05-14 | |||
|
NGG
NATIONAL GRID P...
|
Utilities | 0.56% | 0.76% |
#43
10
Prev: #33
|
0.2 |
—
|
-170,724 | -24.1% |
P
S
|
538,761 | $45,579,151 | 2024 Q3 | 13F Filing | 2026-03-31 | 2026-05-14 | |||
|
NWG
NATWEST GROUP P...
|
Financial Services | 0.55% | 0.38% |
#44
10
Prev: #54
|
3.2 |
—
|
1,401,045 | 88.3% |
P
S
|
2,988,309 | $44,525,809 | 2023 Q3 | 13F Filing | 2026-03-31 | 2026-05-14 | |||
|
JOYY
JOYY INC
|
ETF | 0.54% | 0.72% |
#45
11
Prev: #34
|
0.7 |
—
|
-61,850 | -7.6% |
P
S
|
750,751 | $43,836,351 | 2019 Q4 | 13F Filing | 2026-03-31 | 2026-05-14 | |||
|
NVO
NOVO NORDISK A/...
|
Healthcare | 0.53% | 0.70% |
#46
8
Prev: #38
|
2.2 |
—
|
180,363 | 18.1% |
P
S
|
1,174,213 | $43,152,333 | 2025 Q2 | 13F Filing | 2026-03-31 | 2026-05-14 | |||
|
PAGS
PAGSEGURO DIGIT...
|
Technology | 0.50% | 0.54% |
#47
1
Prev: #46
|
0.7 |
—
|
-1,107 | -0.0% |
P
S
|
4,044,350 | $40,524,387 | 2025 Q2 | 13F Filing | 2026-03-31 | 2026-05-14 | |||
|
BUD
ANHEUSER-BUSCH ...
|
Consumer Defensive | 0.49% | 0.62% |
#48
6
Prev: #42
|
0.7 |
—
|
-121,212 | -17.3% |
P
S
|
580,131 | $40,243,686 | 2022 Q3 | 13F Filing | 2026-03-31 | 2026-05-14 | |||
|
ING
ING GROEP NV
|
Financial Services | 0.49% | 0.38% |
#49
6
Prev: #55
|
3.2 |
—
|
555,742 | 56.6% |
P
S
|
1,537,748 | $40,058,348 | 2005 Q4 | 13F Filing | 2026-03-31 | 2026-05-14 | |||
|
TXN
TEXAS INSTRUMEN...
|
Technology | 0.49% | — |
#50
Prev: #—
|
3.7 |
—
|
206,214 | — |
NEW
|
206,214 | $40,034,384 | 2026 Q1 | 13F Filing | 2026-03-31 | 2026-05-14 |
Showing 1-50 of 121 holdings