CAUSEWAY CAPITAL MANAGEMENT LLC
SEC Form 13F institutional filer · CIK 0001165797
13F-HR · 30 reported holdings · 2026-03-31
SEC-registered institutional investment manager.
Reported long-US-equity value
$2.99B
Top-10 concentration
77.3%
CAUSEWAY CAPITAL MANAGEMENT LLC — $2.99B AUM allocation strategy
CAUSEWAY CAPITAL MANAGEMENT LLC files SEC Form 13F and reports $2.99B of long US equity value across 30 reported holdings for 2026-03-31.
Its largest sector bet is Consumer Discretionary 33.8%, followed by Materials 20.8% and Communication Services 10.5%.
The top 10 holdings account for 77% of reported value — a conviction-weighted book concentrated in its best ideas. The sector and industry splits below are of the same reported value. Track quarter-over-quarter adds, trims, new positions and exits below — sourced from SEC 13F filings, public domain.
CAUSEWAY CAPITAL MANAGEMENT LLC — latest SEC 13F insights
Reported long-US-equity value (13F AUM)
$2.99B
total across 30 reported holdings · 2026-03-31 · excludes shorts, cash, non-US
Top-10 concentration
77% of value
higher = narrower conviction; lower = spread / hedging
Biggest adds (shares)
+$CCL +3.15M sh · −$76.6M+$CARR +254K sh · +$20.7M+$BA +162K sh · +$29.5M
Biggest trims (shares)
−$SW −3.57M sh · −$120M−$BIIB −240K sh · −$40.2M−$MRK −190K sh · −$7.2M
Exited to nil (held last quarter, gone now)
None this quarter
Sector allocation (share of reported value)
each slice is a share of the reported long-US-equity value — smaller sectors and the rest of the book roll into “Other holdings”
Qtr shift = share-point change vs the prior quarter's filing — first period tracked for this filer; the column fills in with the next quarterly refresh.
Industry allocation (share of reported value)
- Hotels, Resorts & Cruise Lines32.1%—
- Paper & Plastic Packaging Products & Materials20.8%—
- Interactive Media & Services6.0%—
- Pharmaceuticals5.2%—
- Movies & Entertainment4.5%—
- Building Products3.9%—
- IT Consulting & Other Services3.1%—
- Reinsurance2.7%—
- Other holdings21.7%—
the finer GICS cut of the same book — same denominator — smaller industries roll into “Other holdings”
Qtr shift = share-point change vs the prior quarter's filing — first period tracked for this filer; the column fills in with the next quarterly refresh.
Top S&P 500 holdings
10 of 10 rows · sorted by Value ↓
| Ticker | Holding | Shares | Value | Δ QoQ | Weight |
|---|---|---|---|---|---|
| $CCL | Carnival Corporation Ltd | 37.1M | $960M | +3.15M | 32.2% |
| $SW | Smurfit WestRock plc | 15.6M | $620M | -3.57M | 20.8% |
| $CARR | Carrier Global Corporation | 2.1M | $118M | +254K | 4.0% |
| $MRK | Merck & Company Inc | 854K | $103M | -190K | 3.4% |
| $GOOGL | Alphabet Inc | 337K | $96.8M | -32.7K | 3.2% |
| $CTSH | Cognizant Technology Solutions Corporation | 1.5M | $92.3M | -48.1K | 3.1% |
| $META | Meta Platforms Inc | 145K | $82.8M | +34.4K | 2.8% |
| $EG | Everest Group Ltd | 250K | $81.7M | +11.4K | 2.7% |
| $LYV | Live Nation Entertainment Inc | 526K | $80.3M | +79.3K | 2.7% |
| $ZBH | Zimmer Biomet Holdings Inc | 808K | $73.1M | +79.6K | 2.4% |
…and 20 more holdings in the full 13F filing (top positions only shown).
SEC Form 13F data sets · public domain · 45-day filing lag · >$100M AUM managers · as reported
← All 13F filers·← QuantOrb.pro
How to read Δ QoQ — the five insight categories, and the caveats
The categories. Analysts, quants and retail traders look past total portfolio value to isolate actionable signals. Five categories matter.
Conviction & concentration shifts
New positions vs complete exits — a brand-new stock signals high conviction; a full liquidation suggests a broken thesis or tax-loss harvesting. Aggressive sizing — look at share count, not dollars: a 20% share increase during a drawdown is strong dip-buying. Concentration — a narrowing top-5/10 means conviction; spreading capital across more names means hedging.
Sector & macro allocation rotations
Aggregating Δ QoQ moves across sectors shows where smart money is leaning in or sneaking out — rotating out of growth into defensives or energy, for example. The fund's total long equity exposure quarter-over-quarter is a proxy for overall institutional risk appetite.
Crowding & smart-money consensus
When several managers initiate or expand the same stock in the same quarter, that is institutional consensus. Contrarian reads: top pickers buying hard into a beaten-down name the market is selling.
Derivative & option overlays
Reported call/put changes indicate whether managers are adding downside hedges or leveraging upside exposure. Note: a long increase may be half of a market-neutral pair trade.
Who reads this
| Retail "cloners" | High-conviction ideas to replicate ~45 days after quarter-end. |
| Corporate IR | Which funds bought or dumped the stock, before the next call. |
| Quant / algo traders | Cross-sectional factor inputs: flow, momentum, ownership. |
Four caveats before you trade on it
- 45-day lag — holdings are quarter-end; positions may already be closed.
- Long-only — 13Fs miss shorts, pair trades and cash.
- No non-US / fixed income — the picture is US equities plus options.
- Corporate actions — splits and spinoffs distort raw share deltas.
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