CAUSEWAY CAPITAL MANAGEMENT LLC 13F: Quarter-over-Quarter Portfolio Changes
CAUSEWAY CAPITAL MANAGEMENT LLC reported a disclosed portfolio value of approximately $9.2 billion in its latest SEC Form 13F-HR filing for Q2 2026, up 13.4% quarter on quarter. Over the quarter, the manager initiated 22 new positions, bought more shares in 49 holdings, trimmed 46 holdings, and exited 7 positions.
CAUSEWAY CAPITAL MANAGEMENT LLC's top buy was a new stake in Netease INC (NTES) , equal to 0.8% of the disclosed portfolio. Its top sell was Whirlpool CORP (WHR) . The manager exited the position completely after it had accounted for 0.8% of the previous portfolio.
New PositionsQ2 2026
Securities disclosed for the first time in Q2 2026 that were not present in the prior 13F-HR filing.
| Company | Ticker | Initial Portfolio Weight | History |
|---|---|---|---|
| NETEASE INC | NTES | 0.8% | Holders → |
| BOSTON SCIENTIFIC CORP | BSX | 0.3% | Holders → |
| JD.COM INC | JD | 0.3% | Holders → |
| H WORLD GROUP LTD | HTHT | 0.3% | Holders → |
| OCEANAGOLD CORP | OGC | 0.2% | Holders → |
| ARCOS DORADOS HOLDINGS, INC. | ARCO | 0.2% | Holders → |
| TORONTO DOMINION BK ONT | TD | 0.1% | Holders → |
| CANADIAN IMPERIAL BANK OF CO | CM | 0.1% | Holders → |
| SUNCOR ENERGY INC NEW | SU | 0.1% | Holders → |
| ISHARES TR | EEM | 0.1% | Holders → |
| STANTEC INC | STN | 0.0% | Holders → |
| GLOBAL E ONLINE LTD | GLBE | 0.0% | Holders → |
| MAGNA INTERNATIONAL INC | MGA | 0.0% | Holders → |
| IAMGOLD CORP | IAG | 0.0% | Holders → |
| OPEN TEXT CORP | OTEX | 0.0% | Holders → |
| CANADIAN NAT RES LTD MED TER | CNQ | 0.0% | Holders → |
| INTER & CO INC | INTR | 0.0% | Holders → |
| ORLA MINING LTD | ORLA | 0.0% | Holders → |
| LAM RESEARCH CORP | LRCX | 0.0% | Holders → |
| TORM PLC | TRMD | 0.0% | Holders → |
| SLM CORP | SLM | 0.0% | Holders → |
| VICI PROPERTIES INC. | VICI | 0.0% | Holders → |
Top BuysQ2 2026
Showing the top 10 buys among 49 existing positions where the manager bought more shares in Q2 2026. Ranked by portfolio-weight impact, with the percentage of additional shares shown separately.
| Company | Ticker | Portfolio Weight Change | More Shares | History |
|---|---|---|---|---|
| BW LPG LTD | BWLP | +0.1% | +2889.0% | Holders → |
| HAFNIA LTD | HAFN | +0.0% | +1182.8% | Holders → |
| VANGUARD INTL EQUITY INDEX F | VWO | +0.0% | +376.0% | Holders → |
| ISHARES MSCI SAUDI ARABIA ETF | KSA | +0.0% | +234.8% | Holders → |
| VANGUARD INTL EQUITY INDEX F | VEU | +0.0% | +148.6% | Holders → |
| VISTA ENERGY S.A.B. DE C.V. | VIST | +0.1% | +126.9% | Holders → |
| PETROLEO BRASILEIRO SA - PETROBRAS | PBR/A | +0.1% | +107.0% | – |
| FORTUNA MNG CORP | FSM | +0.0% | +66.8% | Holders → |
| INGERSOLL RAND INC | IR | +0.3% | +65.1% | Holders → |
| SMITH & NEPHEW PLC | SNN | +0.1% | +64.2% | Holders → |
Top SellsQ2 2026
Showing the top 10 sells among 46 existing positions where the manager sold shares in Q2 2026. Ranked by portfolio-weight impact. Full exits are listed separately.
| Company | Ticker | Portfolio Weight Change | Shares Sold | History |
|---|---|---|---|---|
| SHINHAN FINANCIAL GROUP CO LTD | SHG | -0.2% | 97.4% | Holders → |
| BP PLC | BP | -0.6% | 95.4% | Holders → |
| ARCELORMITTAL SA | MT | -0.2% | 91.7% | Holders → |
| JOYY, INC. | JOYY | -0.5% | 85.4% | Holders → |
| INMODE LTD | INMD | -0.0% | 74.7% | Holders → |
| INFOSYS LTD | INFY | -0.3% | 72.2% | Holders → |
| MILLICOM INTERNATIONAL CELLULAR SA | TIGO | -0.1% | 68.4% | Holders → |
| COGNIZANT TECHNOLOGY SOLUTIO | CTSH | -0.9% | 67.1% | Holders → |
| GENPACT LTD | G | -0.7% | 63.5% | Holders → |
| ISHARES TR | ACWI | -0.0% | 50.1% | Holders → |
Full ExitsQ2 2026
Positions present in the prior 13F-HR filing that no longer appear in Q2 2026.
| Company | Ticker | Last-Reported Portfolio Weight |
|---|---|---|
| WHIRLPOOL CORP | WHR | 0.8% |
| APTIV PLC | APTV | 0.6% |
| PDD HOLDINGS INC | PDD | 0.3% |
| TENCENT MUSIC ENTMT GROUP | TME | 0.1% |
| QFIN HOLDINGS INC | QFIN | 0.1% |
| ENERFLEX LTD | EFXT | 0.0% |
| JBS N.V. | JBS | 0.0% |
Net Portfolio Value ChangeQ2 2026
- $8.1BPrior quarter
- $9.2BCurrent quarter
- +$1.1BNet delta
- +13.4%% change
Methodology & FAQ
How CAUSEWAY CAPITAL MANAGEMENT LLC Quarterly Changes Are Computed
All deltas are sourced from sequential SEC Form 13F-HR filings for CAUSEWAY CAPITAL MANAGEMENT LLC: each row joins the most recent filing against the immediately preceding quarterly filing for the same fund. Share-count changes reflect reported trading activity, while portfolio weights can also move because of market price changes. Portfolio weights are normalized to exclude listed options for comparability. A complete description, including how confidential treatment filings are handled, is documented in the Methodology.
What stocks did CAUSEWAY CAPITAL MANAGEMENT LLC buy in Q2 2026?
In Q2 2026, CAUSEWAY CAPITAL MANAGEMENT LLC initiated 22 new positions (NETEASE INC (NTES), BOSTON SCIENTIFIC CORP (BSX), JD.COM INC (JD), H WORLD GROUP LTD (HTHT), OCEANAGOLD CORP (OGC), ARCOS DORADOS HOLDINGS, INC. (ARCO), TORONTO DOMINION BK ONT (TD), CANADIAN IMPERIAL BANK OF CO (CM), SUNCOR ENERGY INC NEW (SU), ISHARES TR (EEM), STANTEC INC (STN), GLOBAL E ONLINE LTD (GLBE), MAGNA INTERNATIONAL INC (MGA), IAMGOLD CORP (IAG), OPEN TEXT CORP (OTEX), CANADIAN NAT RES LTD MED TER (CNQ), INTER & CO INC (INTR), ORLA MINING LTD (ORLA), LAM RESEARCH CORP (LRCX), TORM PLC (TRMD), SLM CORP (SLM), VICI PROPERTIES INC. (VICI)); bought more shares of BW LPG LTD (BWLP), HAFNIA LTD (HAFN), VANGUARD INTL EQUITY INDEX F (VWO), ISHARES MSCI SAUDI ARABIA ETF (KSA), VANGUARD INTL EQUITY INDEX F (VEU) (the largest 5 of 49 adds).
What stocks did CAUSEWAY CAPITAL MANAGEMENT LLC sell in Q2 2026?
In Q2 2026, CAUSEWAY CAPITAL MANAGEMENT LLC fully sold 7 positions (WHIRLPOOL CORP (WHR), APTIV PLC (APTV), PDD HOLDINGS INC (PDD), TENCENT MUSIC ENTMT GROUP (TME), QFIN HOLDINGS INC (QFIN), ENERFLEX LTD (EFXT), JBS N.V. (JBS)); reduced holdings in SHINHAN FINANCIAL GROUP CO LTD (SHG), BP PLC (BP), ARCELORMITTAL SA (MT), JOYY, INC. (JOYY), INMODE LTD (INMD) (the largest 5 of 46 reductions).
Which positions did CAUSEWAY CAPITAL MANAGEMENT LLC initiate in Q2 2026?
CAUSEWAY CAPITAL MANAGEMENT LLC established 22 new positions in Q2 2026: NETEASE INC (NTES, 0.8%), BOSTON SCIENTIFIC CORP (BSX, 0.3%), JD.COM INC (JD, 0.3%), H WORLD GROUP LTD (HTHT, 0.3%), OCEANAGOLD CORP (OGC, 0.2%), ARCOS DORADOS HOLDINGS, INC. (ARCO, 0.2%), TORONTO DOMINION BK ONT (TD, 0.1%), CANADIAN IMPERIAL BANK OF CO (CM, 0.1%), SUNCOR ENERGY INC NEW (SU, 0.1%), ISHARES TR (EEM, 0.1%), STANTEC INC (STN, 0.0%), GLOBAL E ONLINE LTD (GLBE, 0.0%), MAGNA INTERNATIONAL INC (MGA, 0.0%), IAMGOLD CORP (IAG, 0.0%), OPEN TEXT CORP (OTEX, 0.0%), CANADIAN NAT RES LTD MED TER (CNQ, 0.0%), INTER & CO INC (INTR, 0.0%), ORLA MINING LTD (ORLA, 0.0%), LAM RESEARCH CORP (LRCX, 0.0%), TORM PLC (TRMD, 0.0%), SLM CORP (SLM, 0.0%), VICI PROPERTIES INC. (VICI, 0.0%).
Which existing positions saw the largest allocation increases for CAUSEWAY CAPITAL MANAGEMENT LLC in Q2 2026?
Of 49 existing positions with share-count increases in Q2 2026, the largest were: BW LPG LTD (BWLP, +0.1% weight, +2889.0% shares), HAFNIA LTD (HAFN, +0.0% weight, +1182.8% shares), VANGUARD INTL EQUITY INDEX F (VWO, +0.0% weight, +376.0% shares), ISHARES MSCI SAUDI ARABIA ETF (KSA, +0.0% weight, +234.8% shares), VANGUARD INTL EQUITY INDEX F (VEU, +0.0% weight, +148.6% shares), VISTA ENERGY S.A.B. DE C.V. (VIST, +0.1% weight, +126.9% shares), PETROLEO BRASILEIRO SA - PETROBRAS (PBR/A, +0.1% weight, +107.0% shares), FORTUNA MNG CORP (FSM, +0.0% weight, +66.8% shares), INGERSOLL RAND INC (IR, +0.3% weight, +65.1% shares), SMITH & NEPHEW PLC (SNN, +0.1% weight, +64.2% shares).
Which positions did CAUSEWAY CAPITAL MANAGEMENT LLC fully exit in Q2 2026?
CAUSEWAY CAPITAL MANAGEMENT LLC fully exited 7 positions in Q2 2026: WHIRLPOOL CORP (WHR, last-reported weight 0.8%), APTIV PLC (APTV, last-reported weight 0.6%), PDD HOLDINGS INC (PDD, last-reported weight 0.3%), TENCENT MUSIC ENTMT GROUP (TME, last-reported weight 0.1%), QFIN HOLDINGS INC (QFIN, last-reported weight 0.1%), ENERFLEX LTD (EFXT, last-reported weight 0.0%), JBS N.V. (JBS, last-reported weight 0.0%).
Which existing positions saw the largest allocation reductions for CAUSEWAY CAPITAL MANAGEMENT LLC in Q2 2026?
Of 46 existing positions with share-count reductions in Q2 2026, the largest were: SHINHAN FINANCIAL GROUP CO LTD (SHG, -0.2% weight, -97.4% shares), BP PLC (BP, -0.6% weight, -95.4% shares), ARCELORMITTAL SA (MT, -0.2% weight, -91.7% shares), JOYY, INC. (JOYY, -0.5% weight, -85.4% shares), INMODE LTD (INMD, -0.0% weight, -74.7% shares), INFOSYS LTD (INFY, -0.3% weight, -72.2% shares), MILLICOM INTERNATIONAL CELLULAR SA (TIGO, -0.1% weight, -68.4% shares), COGNIZANT TECHNOLOGY SOLUTIO (CTSH, -0.9% weight, -67.1% shares), GENPACT LTD (G, -0.7% weight, -63.5% shares), ISHARES TR (ACWI, -0.0% weight, -50.1% shares).
Do quarter-over-quarter 13F allocation changes constitute explicit trading signals?
No. Quarter-over-quarter changes reflect a combination of active trading and market price movement. A weight increase can result from price appreciation alone, without the manager adding shares. Share-count delta is the cleaner indicator of explicit trading activity. All deltas on this page are sourced from sequential SEC Form 13F-HR filings.