13F filing recap · Q4 2014

What did Causeway Capital Management buy in Q4 2014?

Reported stock-position changes between this filing and the previous one. US-listed stocks across every Causeway account, including accounts that belong to no fund below.

Stock value

$3.46B

Positions

Estimated turnover

29.9%

Turnover is a proxy: verified trade-origin share changes valued at period-end and divided by average reported stock value. SEC holdings reports do not disclose execution dates or prices. Corporate actions and unreconciled activity are excluded.

New positions

QCOMQualcomm Inc/de$139.82Mreported value+1.67M shares NTESNetease, Inc.$8.23Mreported value+83.0K shares INDAiShares Trust$7.52Mreported value+250.0K shares MBTMobile Telesystems Pjsc$6.08Mreported value+847.3K shares JASOJa Solar Holdings Co., Ltd.$3.78Mreported value+461.9K shares KEPKorea Electric Power Corp$1.58Mreported value+81.4K shares LPLLg Display Co., Ltd.$901.0Kreported value+59.5K shares GLINVaneck ETF Trust$317.0Kreported value+7.1K shares VSSVanguard International Equity Index Funds$267.0Kreported value+2.8K shares

Increased positions

ORCLOracle Corporation$170.47Mreported value+312.6K shares+10.2%CCitigroup Inc$170.20Mreported value+155.8K shares+5.9%MSFTMicrosoft Corporation$168.74Mreported value+112.7K shares+3.6%RYAAYRyanair Holdings Plc$156.78Mreported value+15.6K shares

Reduced positions

CSXCsx Corporation$114.17Mreported value-945.4K shares-25.1%MOAltria Group, Inc.$98.85Mreported value-84.4K shares-4.6%APOLApollo Education Group, Inc.$68.07Mreported value-881.4K shares-33.2%SNYSanofi$23.11Mreported value-87.1K shares

Exited positions

FAFFirst American Financial Corporation$93.42Mprior reported value-3.16M shares-100.0%BAThe Boeing Company$50.22Mprior reported value-361.8K shares-100.0%LOLORILLARD INC$32.12Mprior reported value-491.4K shares-100.0%SIEGYSiemens AG$13.56Mprior reported value-113.9K shares