CAUSEWAY CAPITAL MANAGEMENT LLC
Q1 2025 Form 13-F

LOS ANGELES, CALIFORNIA
CIK 0001165797 · CRD 113308 · SEC-registered investment adviser
Holdings reported by PERSONAL CFO SOLUTIONS LLC since Q2 2021 , American Beacon Advisors Inc since Q2 2026
$4.8B Reported Value Total

CAUSEWAY CAPITAL MANAGEMENT LLC reports 255 total accounts under management (AUM). There are 255 discretionary accounts valued at $42,659,620,720, and 0 non-discretionary accounts.

Source: Form ADV filed * Note that certain holdings are exempt from Form 13-F reporting, so the AUM totals may be greater than the Form 13-F total.
SEC Registered Discretionary Manager
Private funds (Form ADV)
16 funds · $2.9B gross asset value
Other: $2.9B
Source: Form ADV filed 2026-03-23
Reported value
$4.8B
Quarter over quarter
+2.5%
Holdings
90
Top-10 concentration
57.2%

Filing Structure

Reports holdings for

Holdings reported by

Key People

Form ADV owners & control persons
Kurt Decko
GENERAL COUNSEL, COMPLIANCE DIRECTOR
Gracie Varras Fermelia
CHIEF OPERATING OFFICER
Harry William Hartford
PRESIDENT; PORTFOLIO MANAGER
Q4 2024
Q2 2025
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Coverage begins with the second quarter of 2013. Earlier quarters are not shown while their accuracy is being verified.

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Q1 2025 13F filing summary

Period of report March 31, 2025
Filed May 14, 2025
Form 13F-HR
Reported value $4.8B
Positions 90
Change in reported value +8.9%
New positions 11
Exited positions 28
Position turnover 33.1%
Top-10 concentration 57.2%

13F filings by quarter

Quarter Positions Value
Q2 2026 13F
Filed Aug 13, 2026
 122 $9.2B
Q1 2026 13F
Filed May 14, 2026
 107 $8.1B
Q4 2025 13F
Filed Feb 13, 2026
 108 $7.3B
Q3 2025 13F
Filed Nov 13, 2025
 105 $7.6B
Q2 2025 13F
Filed Aug 13, 2025
 99 $6.3B
Q1 2025 13F
Filed May 14, 2025
 90 $4.8B
Q4 2024 13F
Filed Feb 13, 2025
 107 $4.4B
Q3 2024 13F
Filed Nov 13, 2024
 97 $4.1B
Q2 2024 13F
Filed Aug 13, 2024
 90 $3.7B
Q1 2024 13F
Filed May 15, 2024
 89 $3.8B
Q4 2023 13F
Filed Feb 14, 2024
 89 $3.9B
Q3 2023 13F
Filed Nov 13, 2023
 89 $3.8B
Q2 2023 13F
Filed Aug 11, 2023
 81 $3.8B
Q1 2023 13F
Filed May 12, 2023
 81 $4.2B
Q4 2022 13F
Filed Feb 13, 2023
 83 $3.4B
Q3 2022 13F
Filed Nov 14, 2022
 81 $3.6B
Q2 2022 13F
Filed Aug 15, 2022
 80 $4.0B
Q1 2022 13F
Filed May 13, 2022
 75 $4.2B
Q4 2021 13F
Filed Feb 11, 2022
 82 $4.5B
Q3 2021 13F
Filed Nov 12, 2021
 81 $4.4B

33 earlier quarters on file — choose one from the quarter menu above.

Top 20 holdings · Q1 2025

# Holding Reported value % of portfolio
1 CP CANADIAN PACIFIC KANSAS CITY LTD $1.2B 25.25%
2 CCL CARNIVAL CORP $518.8M 10.85%
3 ABX BARRICK GOLD CORP $229.8M 4.81%
4 BABA ALIBABA GROUP HOLDING LTD $179.3M 3.75%
5 SW SMURFIT WESTROCK PLC $121.4M 2.54%
6 GOOG ALPHABET INC $108.9M 2.28%
7 C CITIGROUP INC $95.9M 2.0%
8 DIS WALT DISNEY CO/THE $94.1M 1.97%
9 ZBH ZIMMER BIOMET HOLDINGS INC $91.2M 1.91%
10 TSM TAIWAN SEMICONDUCTOR MANUFACTURING CO LTD $86.3M 1.8%
11 ADI ANALOG DEVICES INC $85.5M 1.79%
12 MRK MERCK & CO INC $80.6M 1.68%
13 JD JD.COM INC $73.9M 1.55%
14 AXS AXIS CAPITAL HOLDINGS LTD $72.9M 1.52%
15 CTSH COGNIZANT TECHNOLOGY SOLUTIONS CORP $70.2M 1.47%
16 BCS BARCLAYS PLC $69.3M 1.45%
17 ORCL ORACLE CORP $68.8M 1.44%
18 AZN ASTRAZENECA PLC $63.1M 1.32%
19 META META PLATFORMS INC $60.8M 1.27%
20 BIIB BIOGEN INC $59.3M 1.24%

Values as reported on the Q1 2025 Form 13F. Every position is in the holdings table below.

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