CAUSEWAY CAPITAL MANAGEMENT LLC 13F: Quarter-over-Quarter Portfolio Changes
CAUSEWAY CAPITAL MANAGEMENT LLC reported a disclosed portfolio value of approximately $8.1 billion in its latest SEC Form 13F-HR filing for Q1 2026, up 12.1% quarter on quarter. Over the quarter, the manager initiated 12 new positions, bought more shares in 43 holdings, trimmed 46 holdings, and exited 13 positions.
CAUSEWAY CAPITAL MANAGEMENT LLC's top buy was Astrazeneca PLC (AZN) . The manager bought 634.2% more shares, lifting the position's portfolio weight by 16.4 percentage points. Its top sell was Barrick Mng CORP (B) . The manager sold 99.9% of its previously reported shares, reducing the position's portfolio weight by 3.6 percentage points.
New PositionsQ1 2026
Securities disclosed for the first time in Q1 2026 that were not present in the prior 13F-HR filing.
| Company | Ticker | Initial Portfolio Weight | History |
|---|---|---|---|
| DTE ENERGY CO | DTE | 0.6% | Holders → |
| TEXAS INSTRUMENTS | TXN | 0.5% | Holders → |
| TAL ED GROUP | TAL | 0.5% | Holders → |
| PETROLEO BRASILEIRO S A | PBR/A | 0.3% | — |
| UNITEDHEALTH GROUP | UNH | 0.2% | Holders → |
| VISTA ENERGY SAB | VIST | 0.2% | Holders → |
| GRUPO CIBEST SA | CIB | 0.1% | Holders → |
| ISHARES TR | KSA | 0.0% | Holders → |
| ISHARES MSCI EAFE SMALL-CAP ETF | SCZ | 0.0% | Holders → |
| HAFNIA LTD | HAFN | 0.0% | Holders → |
| BW LPG LTD | BWLP | 0.0% | Holders → |
| ALLSTATE CORP | ALL | 0.0% | Holders → |
Top BuysQ1 2026
Showing the top 10 buys among 43 existing positions where the manager bought more shares in Q1 2026. Ranked by portfolio-weight impact, with the percentage of additional shares shown separately.
| Company | Ticker | Portfolio Weight Change | More Shares | History |
|---|---|---|---|---|
| ASTRAZENECA PLC | AZN | +16.4% | +634.2% | History → |
| JONES LANG LASALLE INC | JLL | +0.4% | +213.3% | Holders → |
| BOOZ ALLEN HAMILTON HLDG CORP | BAH | +0.4% | +116.3% | Holders → |
| ANGLOGOLD ASHANTI PLC | AU | +0.5% | +107.0% | Holders → |
| BOEING CO | BA | +0.3% | +106.6% | Holders → |
| RELX PLC | RELX | +0.3% | +93.9% | Holders → |
| NATWEST GROUP PLC | NWG | +0.2% | +88.3% | Holders → |
| SAP SE SPON ADR | SAP | +0.1% | +81.9% | Holders → |
| DEUTSCHE BK AG | DB | +1.3% | +75.9% | History → |
| VANGUARD TAX-MANAGED FDS | VEA | +0.2% | +74.8% | Holders → |
Top SellsQ1 2026
Showing the top 10 sells among 46 existing positions where the manager sold shares in Q1 2026. Ranked by portfolio-weight impact. Full exits are listed separately.
| Company | Ticker | Portfolio Weight Change | Shares Sold | History |
|---|---|---|---|---|
| BARRICK MNG CORP | B | -3.6% | 99.9% | Holders → |
| VANGUARD INTL EQUITY INDEX F | VWO | -0.0% | 87.7% | Holders → |
| ISHARES INC | EWT | -0.1% | 80.5% | Holders → |
| QFIN HOLDINGS INC | QFIN | -0.3% | 74.7% | Holders → |
| GSK PLC | GSK | -0.0% | 67.2% | Holders → |
| CELESTICA INC | CLS | -0.2% | 66.2% | Holders → |
| TENCENT MUSIC ENTMT GROUP | TME | -0.3% | 63.7% | Holders → |
| VANGUARD INTL EQUITY INDEX F | VEU | -0.0% | 57.3% | Holders → |
| SHINHAN FINANCIAL GROUP CO L | SHG | -0.2% | 56.3% | Holders → |
| ISHARES TR | EFA | -0.1% | 54.5% | Holders → |
Full ExitsQ1 2026
Positions present in the prior 13F-HR filing that no longer appear in Q1 2026.
| Company | Ticker | Last-Reported Portfolio Weight |
|---|---|---|
| GRAPHIC PACKAGING HLDG CO | GPK | 0.9% |
| ALLY FINL INC | ALLY | 0.4% |
| VIPSHOP HOLDINGS, LTD. | VIPS | 0.3% |
| VALE S A | VALE | 0.2% |
| ISHARES INC | EWY | 0.1% |
| HELLO GROUP INC | MOMO | 0.1% |
| ISHARES MSCI WORLD ETF | URTH | 0.0% |
| ISHARES MSCI SOUTH AFRICA ETF | EZA | 0.0% |
| GRANITE REAL ESTATE INVESTMENT TRUST | GRTUF | 0.0% |
| DBX ETF TR | ASHR | 0.0% |
| ISHARES INC | EWZ | 0.0% |
| KOREA ELECTRIC POWER CORP | KEP | 0.0% |
| PUMA BIOTECHNOLOGY INC | PBYI | 0.0% |
Net Portfolio Value ChangeQ1 2026
- $7.3BPrior quarter
- $8.1BCurrent quarter
- +$0.9BNet delta
- +12.1%% 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 Q1 2026?
In Q1 2026, CAUSEWAY CAPITAL MANAGEMENT LLC initiated 12 new positions (DTE ENERGY CO (DTE), TEXAS INSTRUMENTS (TXN), TAL ED GROUP (TAL), PETROLEO BRASILEIRO S A (PBR/A), UNITEDHEALTH GROUP (UNH), VISTA ENERGY SAB (VIST), GRUPO CIBEST SA (CIB), ISHARES TR (KSA), ISHARES MSCI EAFE SMALL-CAP ETF (SCZ), HAFNIA LTD (HAFN), BW LPG LTD (BWLP), ALLSTATE CORP (ALL)); bought more shares of ASTRAZENECA PLC (AZN), JONES LANG LASALLE INC (JLL), BOOZ ALLEN HAMILTON HLDG CORP (BAH), ANGLOGOLD ASHANTI PLC (AU), BOEING CO (BA) — the largest 5 of 43 adds.
What stocks did CAUSEWAY CAPITAL MANAGEMENT LLC sell in Q1 2026?
In Q1 2026, CAUSEWAY CAPITAL MANAGEMENT LLC fully sold 13 positions (GRAPHIC PACKAGING HLDG CO (GPK), ALLY FINL INC (ALLY), VIPSHOP HOLDINGS, LTD. (VIPS), VALE S A (VALE), ISHARES INC (EWY), HELLO GROUP INC (MOMO), ISHARES MSCI WORLD ETF (URTH), ISHARES MSCI SOUTH AFRICA ETF (EZA), GRANITE REAL ESTATE INVESTMENT TRUST (GRTUF), DBX ETF TR (ASHR), ISHARES INC (EWZ), KOREA ELECTRIC POWER CORP (KEP), PUMA BIOTECHNOLOGY INC (PBYI)); reduced holdings in BARRICK MNG CORP (B), VANGUARD INTL EQUITY INDEX F (VWO), ISHARES INC (EWT), QFIN HOLDINGS INC (QFIN), GSK PLC (GSK) — the largest 5 of 46 reductions.
Which positions did CAUSEWAY CAPITAL MANAGEMENT LLC initiate in Q1 2026?
CAUSEWAY CAPITAL MANAGEMENT LLC established 12 new positions in Q1 2026: DTE ENERGY CO (DTE, 0.6%), TEXAS INSTRUMENTS (TXN, 0.5%), TAL ED GROUP (TAL, 0.5%), PETROLEO BRASILEIRO S A (PBR/A, 0.3%), UNITEDHEALTH GROUP (UNH, 0.2%), VISTA ENERGY SAB (VIST, 0.2%), GRUPO CIBEST SA (CIB, 0.1%), ISHARES TR (KSA, 0.0%), ISHARES MSCI EAFE SMALL-CAP ETF (SCZ, 0.0%), HAFNIA LTD (HAFN, 0.0%), BW LPG LTD (BWLP, 0.0%), ALLSTATE CORP (ALL, 0.0%).
Which existing positions saw the largest allocation increases for CAUSEWAY CAPITAL MANAGEMENT LLC in Q1 2026?
Of 43 existing positions with share-count increases in Q1 2026, the largest were: ASTRAZENECA PLC (AZN, +16.4% weight, +634.2% shares), JONES LANG LASALLE INC (JLL, +0.4% weight, +213.3% shares), BOOZ ALLEN HAMILTON HLDG CORP (BAH, +0.4% weight, +116.3% shares), ANGLOGOLD ASHANTI PLC (AU, +0.5% weight, +107.0% shares), BOEING CO (BA, +0.3% weight, +106.6% shares), RELX PLC (RELX, +0.3% weight, +93.9% shares), NATWEST GROUP PLC (NWG, +0.2% weight, +88.3% shares), SAP SE SPON ADR (SAP, +0.1% weight, +81.9% shares), DEUTSCHE BK AG (DB, +1.3% weight, +75.9% shares), VANGUARD TAX-MANAGED FDS (VEA, +0.2% weight, +74.8% shares).
Which positions did CAUSEWAY CAPITAL MANAGEMENT LLC fully exit in Q1 2026?
CAUSEWAY CAPITAL MANAGEMENT LLC fully exited 13 positions in Q1 2026: GRAPHIC PACKAGING HLDG CO (GPK, last-reported weight 0.9%), ALLY FINL INC (ALLY, last-reported weight 0.4%), VIPSHOP HOLDINGS, LTD. (VIPS, last-reported weight 0.3%), VALE S A (VALE, last-reported weight 0.2%), ISHARES INC (EWY, last-reported weight 0.1%), HELLO GROUP INC (MOMO, last-reported weight 0.1%), ISHARES MSCI WORLD ETF (URTH, last-reported weight 0.0%), ISHARES MSCI SOUTH AFRICA ETF (EZA, last-reported weight 0.0%), GRANITE REAL ESTATE INVESTMENT TRUST (GRTUF, last-reported weight 0.0%), DBX ETF TR (ASHR, last-reported weight 0.0%), ISHARES INC (EWZ, last-reported weight 0.0%), KOREA ELECTRIC POWER CORP (KEP, last-reported weight 0.0%), PUMA BIOTECHNOLOGY INC (PBYI, last-reported weight 0.0%).
Which existing positions saw the largest allocation reductions for CAUSEWAY CAPITAL MANAGEMENT LLC in Q1 2026?
Of 46 existing positions with share-count reductions in Q1 2026, the largest were: BARRICK MNG CORP (B, -3.6% weight, -99.9% shares), VANGUARD INTL EQUITY INDEX F (VWO, -0.0% weight, -87.7% shares), ISHARES INC (EWT, -0.1% weight, -80.5% shares), QFIN HOLDINGS INC (QFIN, -0.3% weight, -74.7% shares), GSK PLC (GSK, -0.0% weight, -67.2% shares), CELESTICA INC (CLS, -0.2% weight, -66.2% shares), TENCENT MUSIC ENTMT GROUP (TME, -0.3% weight, -63.7% shares), VANGUARD INTL EQUITY INDEX F (VEU, -0.0% weight, -57.3% shares), SHINHAN FINANCIAL GROUP CO L (SHG, -0.2% weight, -56.3% shares), ISHARES TR (EFA, -0.1% weight, -54.5% 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.