Causeway Capital Management LLC
In its 13F for Q2 2024 (holdings as of June 30, 2024, filed August 13, 2024), Causeway Capital Management LLC reported 90 stock positions worth $3.7 billion. Its top holding was Canadian Pacific Kansas City (CP) at 17.2% of the portfolio, followed by Ryanair Holdings PLC-SP ADR (RYAAY, 7.0%) and Banco Bradesco-ADR (BBD, 3.1%). Compared with Q1 2024, it opened 11 new positions, sold out of 10, added to 41 and reduced 36. The biggest buy was a new position in Cognizant Tech Solutions-A (CTSH) and the biggest sale Ryanair Holdings PLC-SP ADR (RYAAY, shares −20%).
- Most Recent 13F
- Q2 2026
- Location
- LOS ANGELES, CA
- CIK
- 0001165797
- Portfolio Value
- $3.7B (Q2 2024)
- SEC Filing
- 0000943663-24-000204 ↗ filed Aug 13, 2024
Holdings Value
Holdings 90 stocks · $3.7B
| CP Canadian Pacific Kansas City | 17.21% | 8,018,251 | $631.3M | Add +18.6% |
| RYAAY Ryanair Holdings PLC-SP ADR | 6.98% | 2,197,755 | $255.9M | Reduce -19.6% |
| BBD Banco Bradesco-ADR | 3.10% | 50,757,586 | $113.7M | Add +12.1% |
| PDD PDD Holdings Inc. | 2.70% | 744,603 | $99.0M | Add +9.1% |
| DIS The Walt Disney Co. filed as DISNEY WALT CO | 2.67% | 986,285 | $97.9M | Add +19.9% |
| GOOG Alphabet Inc. Class C | 2.44% | 488,348 | $89.6M | Reduce -37.1% |
| TSM Taiwan Semiconductor-SP ADR | 2.40% | 505,772 | $87.9M | Add +3.4% |
| META Meta Platforms Inc. Class A | 2.08% | 151,509 | $76.4M | Add +25.5% |
| C Citigroup Inc. | 2.02% | 1,165,413 | $74.0M | Reduce -8.3% |
| PCG P G & E Corp. | 2.01% | 4,224,459 | $73.8M | Reduce -1.5% |
| SNX TD Synnex Corp. | 2.01% | 638,438 | $73.7M | Reduce -17.6% |
| ZBH Zimmer Biomet Holdings Inc. | 1.96% | 660,806 | $71.7M | Add +30.5% |
| ADI Analog Devices Inc. | 1.93% | 309,829 | $70.7M | Reduce -12.8% |
| ORCL Oracle Corp. | 1.92% | 497,948 | $70.3M | Add +16.1% |
| G Genpact Ltd. | 1.84% | 2,100,269 | $67.6M | Add +5.2% |
| DGX Quest Diagnostics Inc. | 1.78% | 476,116 | $65.2M | Reduce -5.0% |
| FISV Fiserv Inc. | 1.75% | 430,954 | $64.2M | Add +1.5% |
| CTSH Cognizant Tech Solutions-A | 1.66% | 893,875 | $60.8M | New |
| JLL Jones Lang Lasalle Inc. | 1.61% | 287,045 | $58.9M | Reduce -16.0% |
| BCS Barclays PLC-Spons ADR | 1.58% | 5,411,878 | $58.0M | Add +7.5% |
| PFE Pfizer Inc. | 1.53% | 2,003,659 | $56.1M | New |
| PBR.A Petroleo Brasil-SP Pref ADR | 1.45% | 3,891,121 | $53.1M | Reduce -41.4% |
| SHEL Shell PLC-ADR | 1.39% | 704,593 | $50.9M | Add +30.2% |
| BP BP PLC-Spons ADR | 1.29% | 1,315,759 | $47.5M | Add +14.7% |
| CFG Citizens Financial Group | 1.29% | 1,315,737 | $47.4M | Add +0.4% |
| BABA Alibaba Group Holding-SP ADR | 1.27% | 646,604 | $46.6M | Reduce -22.7% |
| ZBRA Zebra Technologies Corp. Class A | 1.26% | 149,552 | $46.2M | Reduce -40.5% |
| VIPS Vipshop Holdings Ltd. - ADR | 1.20% | 3,385,530 | $44.1M | Add +5.4% |
| TME Tencent Music Entertainm-ADR | 1.18% | 3,076,879 | $43.2M | Add +87.7% |
| SAP Sap SE-Sponsored ADR | 1.14% | 207,727 | $41.9M | Add +3.1% |
| BERY Berry Global Group Inc. | 1.08% | 670,935 | $39.5M | Reduce -0.5% |
| STX Seagate Technology Holdings | 1.08% | 382,161 | $39.5M | Reduce -29.1% |
| PUK Prudential PLC-ADR | 1.05% | 2,096,759 | $38.4M | Add +13.4% |
| CNXC Concentrix Corp. | 0.97% | 564,732 | $35.7M | Add +56.1% |
| CHKP Check Point Software Tech | 0.97% | 215,009 | $35.5M | New |
| AZN Astrazeneca PLC-Spons ADR | 0.96% | 450,588 | $35.1M | Reduce -9.2% |
| IFF Intl Flavors & Fragrances filed as INTERNATIONAL FLAVORS&FRAGRA | 0.90% | 347,776 | $33.1M | Reduce -54.9% |
| VEA Vanguard Ftse Developed ETF | 0.89% | 664,149 | $32.8M | Add +77.9% |
| PHG Koninklijke Philips NVR- NY | 0.89% | 1,289,127 | $32.5M | Reduce -22.8% |
| BMY Bristol-Myers Squibb Co. | 0.82% | 727,352 | $30.2M | New |
| DEO Diageo PLC-Sponsored ADR | 0.81% | 236,066 | $29.8M | Add +1.6% |
| GSK GSK PLC-Spon ADR | 0.79% | 753,535 | $29.0M | Add +2.2% |
| BUD Anheuser-Busch Inbev-SPN ADR | 0.77% | 488,305 | $28.4M | Add +3.9% |
| APTV Aptiv Irish Holdings Ltd. filed as APTIV PLC | 0.76% | 397,969 | $28.0M | Add +6.4% |
| IQ Iqiyi Inc.-ADR | 0.75% | 7,529,022 | $27.6M | Add +20.4% |
| JD Jd.com Inc.-ADR | 0.69% | 982,553 | $25.4M | Add +8852.6% |
| QFIN Qfin Holdings Inc.-ADR filed as QIFU TECHNOLOGY INC | 0.68% | 1,272,846 | $25.1M | Add +5.3% |
| RELX Relx PLC - Spon ADR | 0.67% | 534,333 | $24.5M | Reduce -17.1% |
| ING ING Groep N.V.-Sponsored ADR | 0.64% | 1,377,005 | $23.6M | Reduce -27.5% |
| SNY Sanofi-ADR | 0.64% | 481,465 | $23.4M | Add +3.4% |
| BTI British American Tob-SP ADR | 0.62% | 732,823 | $22.7M | Add +5.3% |
| NVS Novartis AG-Sponsored ADR | 0.59% | 202,335 | $21.5M | Reduce -15.5% |
| FINV Finvolution Group-ADR | 0.52% | 3,988,297 | $19.0M | Add +0.4% |
| TAK Takeda Pharmaceutic-SP ADR | 0.48% | 1,354,164 | $17.5M | Reduce -6.3% |
| NWG Natwest Group PLC -Spon ADR | 0.42% | 1,925,064 | $15.5M | Add +4.3% |
| ATHM Autohome Inc.-ADR | 0.42% | 555,591 | $15.3M | Add +5.8% |
| WB Weibo Corp.-Spon ADR | 0.40% | 1,900,400 | $14.6M | Add +5.1% |
| CLS Celestica Inc. | 0.37% | 238,160 | $13.6M | Add +7.1% |
| MMYT Makemytrip Ltd. | 0.37% | 161,394 | $13.6M | Reduce -2.1% |
| ASHR Xtrackers Harvest Csi 300 CH | 0.37% | 571,674 | $13.5M | Add +13.8% |
| VSS Vanguard Ftse All Wo X-US SC | 0.36% | 112,384 | $13.2M | Add +103.0% |
| IBN Icici Bank Ltd.-Spon ADR | 0.35% | 441,801 | $12.7M | Reduce -0.8% |
| MOMO Hello Group Inc. -SPN ADR | 0.31% | 1,883,974 | $11.5M | Add +13.4% |
| JKS Jinkosolar Holding Co.-ADR | 0.31% | 551,670 | $11.4M | Add +4.8% |
| VIST Vista Energy Sab DE CV | 0.30% | 240,538 | $10.9M | Reduce -51.7% |
| INFY Infosys Ltd.-SP ADR | 0.27% | 530,713 | $9.9M | Reduce -2.0% |
| WHR Whirlpool Corp. | 0.26% | 94,673 | $9.7M | New |
| GGB Gerdau SA -Spon ADR | 0.24% | 2,670,178 | $8.8M | Reduce -31.7% |
| RDY Dr. Reddy's Laboratories-ADR | 0.22% | 106,174 | $8.1M | Reduce -7.9% |
| MT Arcelormittal-NY Registered | 0.21% | 341,165 | $7.8M | New |
| HDB HDFC Bank Ltd.-ADR | 0.21% | 118,654 | $7.6M | Reduce -0.8% |
| BAP Credicorp Ltd. | 0.21% | 46,793 | $7.5M | New |
| KSA Ishrs MSCI Saudi Arabia ETF | 0.14% | 127,525 | $5.2M | Reduce -19.1% |
| INDA iShares MSCI India ETF | 0.14% | 89,847 | $5.0M | Reduce -11.3% |
| SMIN iShares MSCI India Small-Cap | 0.13% | 58,395 | $4.7M | Reduce -13.4% |
| DQ Daqo New Energy Corp.-ADR | 0.09% | 224,184 | $3.3M | Reduce -67.1% |
| BTG B2GOLD Corp. | 0.07% | 1,017,504 | $2.7M | New |
| WIT Wipro Ltd.-ADR | 0.04% | 241,030 | $1.5M | Reduce -0.9% |
| ACWI iShares MSCI Acwi ETF | 0.03% | 10,175 | $1.1M | Add +34.2% |
| EFA iShares MSCI Eafe ETF | 0.02% | 9,482 | $743K | Add +31.0% |
| VWO Vanguard Ftse Emerging Marke | 0.02% | 15,779 | $690K | New |
| VEU Vanguard Ftse All-World Ex-U | 0.01% | 8,039 | $471K | Add +90.3% |
| TRMD Torm PLC-A | 0.01% | 11,720 | $458K | No change |
| MSFT Microsoft Corp. | 0.01% | 940 | $420K | Reduce -2.6% |
| NVDA Nvidia Corp. | 0.01% | 3,170 | $392K | Reduce -5.1% |
| UL Unilever PLC | 0.01% | 4,776 | $263K | Reduce -31.9% |
| SMFG Sumitomo Mitsui-Spons ADR | 0.01% | 18,586 | $249K | Reduce -8.7% |
| GOLDEN OCEAN GROUP LTD | 0.01% | 13,809 | $192K | No change |
| TAC Transalta Corp. | 0.00% | 23,343 | $165K | New |
| OPFI Oppfi Inc. | 0.00% | 17,606 | $60K | New |
Portfolio Sells Q1 2024 → Q2 2024
| RYAAY Ryanair Holdings PLC-SP ADR | Reduce -19.6% | 6.98% | −3.43 |
| TSN Tyson Foods Inc. Class A | Sold out | 0.00% | −1.43 |
| TRMB Trimble Inc. | Sold out | 0.00% | −1.39 |
| PBR.A Petroleo Brasil-SP Pref ADR | Reduce -41.4% | 1.45% | −1.14 |
| ABBV Abbvie Inc. | Sold out | 0.00% | −1.02 |
| IFF Intl Flavors & Fragrances | Reduce -54.9% | 0.90% | −0.83 |
| ZBRA Zebra Technologies Corp. Class A | Reduce -40.5% | 1.26% | −0.72 |
| NTES Netease Inc.-ADR | Sold out | 0.00% | −0.69 |
| GOOG Alphabet Inc. Class C | Reduce -37.1% | 2.44% | −0.65 |
| DQ Daqo New Energy Corp.-ADR | Reduce -67.1% | 0.09% | −0.41 |
| BABA Alibaba Group Holding-SP ADR | Reduce -22.7% | 1.27% | −0.31 |
| SNX TD Synnex Corp. | Reduce -17.6% | 2.01% | −0.28 |
| KOF Coca-Cola Femsa Sab-SP ADR | Sold out | 0.00% | −0.25 |
| VIST Vista Energy Sab DE CV | Reduce -51.7% | 0.30% | −0.24 |
| STX Seagate Technology Holdings | Reduce -29.1% | 1.08% | −0.24 |
| GGB Gerdau SA -Spon ADR | Reduce -31.7% | 0.24% | −0.21 |
| SABR Sabre Corp. | Sold out | 0.00% | −0.19 |
| ING ING Groep N.V.-Sponsored ADR | Reduce -27.5% | 0.64% | −0.18 |
| JLL Jones Lang Lasalle Inc. | Reduce -16.0% | 1.61% | −0.14 |
| C Citigroup Inc. | Reduce -8.3% | 2.02% | −0.09 |
| RELX Relx PLC - Spon ADR | Reduce -17.1% | 0.67% | −0.06 |
| TAK Takeda Pharmaceutic-SP ADR | Reduce -6.3% | 0.48% | −0.05 |
| KSA Ishrs MSCI Saudi Arabia ETF | Reduce -19.1% | 0.14% | −0.04 |
| ZIM Zim Integrated Shipping Serv | Sold out | 0.00% | −0.03 |
| KB KB Financial Group Inc.-ADR | Sold out | 0.00% | −0.03 |
| NVS Novartis AG-Sponsored ADR | Reduce -15.5% | 0.59% | −0.02 |
| RIO Rio Tinto PLC-Spon ADR | Sold out | 0.00% | −0.02 |
| UMC United Microelectron-SP ADR | Sold out | 0.00% | −0.01 |
| UL Unilever PLC | Reduce -31.9% | 0.01% | −0.00 |
| RDY Dr. Reddy's Laboratories-ADR | Reduce -7.9% | 0.22% | −0.00 |
| INDA iShares MSCI India ETF | Reduce -11.3% | 0.14% | 0.00 |
| SMFG Sumitomo Mitsui-Spons ADR | Reduce -8.7% | 0.01% | +0.00 |
| MSFT Microsoft Corp. | Reduce -2.6% | 0.01% | +0.00 |
| NVDA Nvidia Corp. | Reduce -5.1% | 0.01% | +0.00 |
| WIT Wipro Ltd.-ADR | Reduce -0.9% | 0.04% | +0.00 |
| SMIN iShares MSCI India Small-Cap | Reduce -13.4% | 0.13% | +0.00 |
| BERY Berry Global Group Inc. | Reduce -0.5% | 1.08% | +0.01 |
| PHG Koninklijke Philips NVR- NY | Reduce -22.8% | 0.89% | +0.01 |
| INFY Infosys Ltd.-SP ADR | Reduce -2.0% | 0.27% | +0.02 |
| DGX Quest Diagnostics Inc. | Reduce -5.0% | 1.78% | +0.03 |
| HDB HDFC Bank Ltd.-ADR | Reduce -0.8% | 0.21% | +0.03 |
| IBN Icici Bank Ltd.-Spon ADR | Reduce -0.8% | 0.35% | +0.04 |
| MMYT Makemytrip Ltd. | Reduce -2.1% | 0.37% | +0.06 |
| AZN Astrazeneca PLC-Spons ADR | Reduce -9.2% | 0.96% | +0.08 |
| ADI Analog Devices Inc. | Reduce -12.8% | 1.93% | +0.09 |
| PCG P G & E Corp. | Reduce -1.5% | 2.01% | +0.13 |
Portfolio Buys Q1 2024 → Q2 2024
| CTSH Cognizant Tech Solutions-A | New | 1.66% | +1.66 |
| CP Canadian Pacific Kansas City | Add +18.6% | 17.21% | +1.62 |
| PFE Pfizer Inc. | New | 1.53% | +1.53 |
| CHKP Check Point Software Tech | New | 0.97% | +0.97 |
| BMY Bristol-Myers Squibb Co. | New | 0.82% | +0.82 |
| TME Tencent Music Entertainm-ADR | Add +87.7% | 1.18% | +0.70 |
| JD Jd.com Inc.-ADR | Add +8852.6% | 0.69% | +0.68 |
| TSM Taiwan Semiconductor-SP ADR | Add +3.4% | 2.40% | +0.66 |
| PDD PDD Holdings Inc. | Add +9.1% | 2.70% | +0.62 |
| META Meta Platforms Inc. Class A | Add +25.5% | 2.08% | +0.55 |
| ORCL Oracle Corp. | Add +16.1% | 1.92% | +0.51 |
| SHEL Shell PLC-ADR | Add +30.2% | 1.39% | +0.44 |
| VEA Vanguard Ftse Developed ETF | Add +77.9% | 0.89% | +0.41 |
| CNXC Concentrix Corp. | Add +56.1% | 0.97% | +0.35 |
| BCS Barclays PLC-Spons ADR | Add +7.5% | 1.58% | +0.34 |
| WHR Whirlpool Corp. | New | 0.26% | +0.26 |
| MT Arcelormittal-NY Registered | New | 0.21% | +0.21 |
| ZBH Zimmer Biomet Holdings Inc. | Add +30.5% | 1.96% | +0.21 |
| BAP Credicorp Ltd. | New | 0.21% | +0.21 |
| VSS Vanguard Ftse All Wo X-US SC | Add +103.0% | 0.36% | +0.19 |
| BP BP PLC-Spons ADR | Add +14.7% | 1.29% | +0.17 |
| G Genpact Ltd. | Add +5.2% | 1.84% | +0.12 |
| PUK Prudential PLC-ADR | Add +13.4% | 1.05% | +0.12 |
| SAP Sap SE-Sponsored ADR | Add +3.1% | 1.14% | +0.11 |
| CLS Celestica Inc. | Add +7.1% | 0.37% | +0.11 |
| QFIN Qfin Holdings Inc.-ADR | Add +5.3% | 0.68% | +0.10 |
| NWG Natwest Group PLC -Spon ADR | Add +4.3% | 0.42% | +0.09 |
| BTG B2GOLD Corp. | New | 0.07% | +0.07 |
| BTI British American Tob-SP ADR | Add +5.3% | 0.62% | +0.06 |
| IQ Iqiyi Inc.-ADR | Add +20.4% | 0.75% | +0.06 |
| ATHM Autohome Inc.-ADR | Add +5.8% | 0.42% | +0.06 |
| ASHR Xtrackers Harvest Csi 300 CH | Add +13.8% | 0.37% | +0.05 |
| CFG Citizens Financial Group | Add +0.4% | 1.29% | +0.05 |
| SNY Sanofi-ADR | Add +3.4% | 0.64% | +0.04 |
| MOMO Hello Group Inc. -SPN ADR | Add +13.4% | 0.31% | +0.04 |
| DIS The Walt Disney Co. | Add +19.9% | 2.67% | +0.04 |
| BUD Anheuser-Busch Inbev-SPN ADR | Add +3.9% | 0.77% | +0.03 |
| VWO Vanguard Ftse Emerging Marke | New | 0.02% | +0.02 |
| ACWI iShares MSCI Acwi ETF | Add +34.2% | 0.03% | +0.01 |
| VEU Vanguard Ftse All-World Ex-U | Add +90.3% | 0.01% | +0.01 |
| EFA iShares MSCI Eafe ETF | Add +31.0% | 0.02% | +0.01 |
| TAC Transalta Corp. | New | 0.00% | +0.00 |
| OPFI Oppfi Inc. | New | 0.00% | +0.00 |
| FINV Finvolution Group-ADR | Add +0.4% | 0.52% | −0.01 |
| APTV Aptiv Irish Holdings Ltd. | Add +6.4% | 0.76% | −0.02 |
| FISV Fiserv Inc. | Add +1.5% | 1.75% | −0.02 |
| WB Weibo Corp.-Spon ADR | Add +5.1% | 0.40% | −0.03 |
| JKS Jinkosolar Holding Co.-ADR | Add +4.8% | 0.31% | −0.04 |
| GSK GSK PLC-Spon ADR | Add +2.2% | 0.79% | −0.04 |
| DEO Diageo PLC-Sponsored ADR | Add +1.6% | 0.81% | −0.09 |
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 122 | $9.2B | AZN, CCL, DB, SW, CP |
| Q1 2026 | 107 | $8.1B | AZN, CCL, DB, CP, SW |
| Q4 2025 | 108 | $7.3B | CCL, CP, SW, DB, B |
| Q3 2025 | 105 | $7.6B | CP, CCL, DB, B, EFA |
| Q2 2025 | 99 | $6.3B | CP, CCL, DB, B, SW |
| Q1 2025 | 90 | $4.8B | CP, CCL, B, BABA, SW |
| Q4 2024 | 107 | $4.4B | CP, CHKP, B, SW, GOOG |
| Q3 2024 | 97 | $4.1B | CP, CHKP, SW, BBD, EFA |
| Q2 2024 | 90 | $3.7B | CP, RYAAY, BBD, PDD, DIS |
| Q1 2024 | 89 | $3.8B | CP, RYAAY, BBD, GOOG, DIS |