Causeway Capital Management Portfolio - Sep 30, 2025

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Causeway Capital Management, Sarah Ketterer, has built a diversified portfolio of 104 publicly traded holdings with a total market value of $7.6B as of Sep 30, 2025. This comprehensive analysis examines the latest 13F filing data to understand the investment strategy and recent portfolio adjustments.

The portfolio demonstrates a concentrated approach to stock selection, with the top holding representing 13.3% of the total portfolio value. The top 5 holdings account for 46.6% of the overall portfolio allocation.

Recent portfolio activity shows 10 significant position adjustments, indicating active portfolio management and strategic repositioning. These changes reflect the investor's response to market conditions and evolving investment thesis.

Portfolio Statistics

104
Total Holdings
$7.6B
Portfolio Value
Sep 30, 2025
Latest Filing
13.3%
Largest Position

Top Holdings Analysis

The portfolio's top holdings reveal the investor's core investment thesis and sector preferences. The largest position in CANADIAN PACIFIC KANSAS CITY LTD (CP) represents 13.3% of the total portfolio, valued at $1.0B.

Rank Symbol Company Value Portfolio % Change
1 CP CANADIAN PACIFIC KANSAS CITY LTD $1.0B 13.3% -7.9%
2 CCL CARNIVAL CORP $922.6M 12.2% +9.6%
3 DB DEUTSCHE BANK AG $620.2M 8.2% -8.8%
4 B BARRICK MINING CORP $514.6M 6.8% -11.1%
5 EFA ISHARES MSCI EAFE ETF $463.1M 6.1% +70110.5%

For a complete analysis of all holdings and detailed portfolio breakdown by sector and market cap, visit our comprehensive holdings page.

Recent Portfolio Activity

Recent portfolio adjustments provide insights into the investor's evolving strategy and market outlook. The following table shows the top 10 most significant position changes from recent reporting periods (out of 188 total transactions), sorted by the magnitude of change.

For a complete history of all portfolio transactions and detailed activity analysis, visit our comprehensive activity page.

Symbol Company Quantity Change Date Action
EFA iShares MSCI EAFE ETF +4,952,603 Sep 30, 2025 BUY
GGB Gerdau S.A. +4,519,092 Sep 30, 2025 BUY
IQ iQIYI, Inc. -2,896,200 Sep 30, 2025 SELL
CCL Carnival Corporation +2,783,927 Sep 30, 2025 BUY
PCG Pacific Gas & Electric Co. -2,737,515 Sep 30, 2025 SELL
B Barrick Gold -1,959,176 Sep 30, 2025 SELL
GPK Graphic Packaging Holding Compa +1,861,097 Sep 30, 2025 BUY
JD JD.com, Inc. -1,854,381 Sep 30, 2025 SELL
DB Deutsche Bank -1,696,378 Sep 30, 2025 SELL
CARR Carrier Global Corporation +1,466,481 Sep 30, 2025 BUY

Investment Strategy Insights

Causeway Capital Management's investment approach can be analyzed through several key metrics. The portfolio's concentration in top holdings suggests a high-conviction investment strategy, with significant positions in companies that align with the investor's long-term thesis.

The largest position in CANADIAN PACIFIC KANSAS CITY LTD (CP) demonstrates strong conviction in this particular investment opportunity. Recent activity shows a decrease of 7.9% in this position, indicating active portfolio management and strategic positioning.

Portfolio turnover can be assessed through recent activity patterns. The 10 most significant transactions shown here (out of 188 total transactions) suggest a highly active approach to portfolio management, with frequent strategic adjustments and position changes.

Additional Analysis

Complete Holdings

View all 104 holdings with detailed analysis

Trading Activity

Track all portfolio transactions and position changes

Performance Metrics

Analyze profit, winning trades, and investment returns

Sector Allocation

Analyze portfolio breakdown by sector and industry

Causeway Capital Management's portfolio as of Sep 30, 2025 reflects a strategic approach to equity investing with 104 holdings valued at $7.6B. The concentrated position in CANADIAN PACIFIC KANSAS CITY LTD and other top holdings demonstrates the investor's confidence in specific investment themes and long-term value creation opportunities. Recent activity indicates ongoing portfolio optimization and strategic repositioning.

For the most current portfolio data and detailed analysis, refer to the latest SEC 13F filings and our comprehensive holdings and activity pages, which are updated regularly with the latest filing information.

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