13F filing recap · Q1 2016

What did Causeway Capital Management buy in Q1 2016?

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

$4.34B

Positions

Estimated turnover

67.0%

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

FMXMexican Economic Development, Inc.$31.70Mreported value+329.2K shares RDS-BShell Plc$18.75Mreported value+351.4K shares INGIng Groep N.v.$6.71Mreported value+546.9K shares

Increased positions

CCitigroup Inc$248.10Mreported value+931.7K shares+22.2%QCOMQualcomm Inc/de$165.69Mreported value+98.1K shares+3.6%PRUPrudential Financial Inc$165.40Mreported value+319.3K shares+19.4%TSMTaiwan Semiconductor Manufacturing$152.50Mreported value+1.62M shares

Reduced positions

MSFTMicrosoft Corporation$245.37Mreported value-52.0K shares-1.3%ORCLOracle Corporation$232.85Mreported value-334.8K shares-6.4%EMCEmc Corp$193.03Mreported value-242.0K shares-3.7%PVHPvh Corp.$191.21Mreported value-52.1K shares

Exited positions

DALDelta Air Lines, Inc.$172.16Mprior reported value-2.83M shares-100.0%MOAltria Group, Inc.$71.68Mprior reported value-858.8K shares-100.0%TMToyota Motor Corp/$20.49Mprior reported value-166.5K shares-100.0%IMOImperial Oil Limited$6.93Mprior reported value-213.2K shares