CAUSEWAY CAPITAL MANAGEMENT LLC
Q2 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
$6.3B 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
$6.3B
Quarter over quarter
+12.6%
Holdings
99
Top-10 concentration
60.3%

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
Q1 2025
Q3 2025
Go to latest

Coverage begins with the second quarter of 2013. Earlier quarters are not shown while their accuracy is being verified.

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Q2 2025 13F filing summary

Period of report June 30, 2025
Filed August 13, 2025
Form 13F-HR
Reported value $6.3B
Positions 99
Change in reported value +32.1%
New positions 18
Exited positions 9
Position turnover 25.0%
Top-10 concentration 60.3%

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 · Q2 2025

# Holding Reported value % of portfolio
1 CP CANADIAN PACIFIC KANSAS CITY LTD $1.2B 18.42%
2 CCL CARNIVAL CORP $819.1M 12.96%
3 DB DEUTSCHE BANK AG $570.4M 9.03%
4 B BARRICK MINING CORP $366.7M 5.8%
5 SW SMURFIT WESTROCK PLC $302.7M 4.79%
6 BABA ALIBABA GROUP HOLDING LTD $140.9M 2.23%
7 GOOG ALPHABET INC $128.0M 2.03%
8 TSM TAIWAN SEMICONDUCTOR MANUFACTURING CO LTD $117.3M 1.86%
9 C CITIGROUP INC $107.2M 1.7%
10 CTSH COGNIZANT TECHNOLOGY SOLUTIONS CORP $92.2M 1.46%
11 BCS BARCLAYS PLC $86.7M 1.37%
12 ADI ANALOG DEVICES INC $84.6M 1.34%
13 MRK MERCK & CO INC $77.8M 1.23%
14 DIS WALT DISNEY CO/THE $77.3M 1.22%
15 META META PLATFORMS INC $70.5M 1.12%
16 AZN ASTRAZENECA PLC $66.6M 1.05%
17 AXS AXIS CAPITAL HOLDINGS LTD $65.9M 1.04%
18 G GENPACT LTD $63.0M 1.0%
19 BIIB BIOGEN INC $62.0M 0.98%
20 ORCL ORACLE CORP $60.6M 0.96%

Values as reported on the Q2 2025 Form 13F. Every position is in the holdings table below.

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