13F filing recap · Q1 2019

What did Causeway Capital Management buy in Q1 2019?

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

$9.90B

Positions

Estimated turnover

42.9%

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

LINLinde Plc$1.38Breported value+7.85M shares MRKMerck & Co., Inc.$144.96Mreported value+1.74M shares GGBGerdau S.a.$41.70Mreported value+10.75M shares EEMIshares, Inc.$41.61Mreported value+969.4K shares VIVTelefonica Brasil S.a.$33.32Mreported value+2.76M shares SAPSap SE$25.72Mreported value+222.7K shares TTETotalenergies SE$16.89Mreported value+303.4K shares AZULAzul SA$9.93Mreported value+340.0K shares RELXRelx Plc$8.12Mreported value+378.4K shares SMINiShares Trust$194.0Kreported value+4.8K shares

Increased positions

BIDUBaidu, Inc.$880.64Mreported value+89.7K shares+1.7%OVVOvintiv Inc.$849.71Mreported value+27.20M shares+30.2%BABAAlibaba Group Holding Limited$361.18Mreported value+276.9K shares+16.3%TSMTaiwan Semiconductor Manufacturing$248.43Mreported value+31.4K shares

Reduced positions

MFCManulife Financial Corporation$806.32Mreported value-17.08M shares-26.4%GILGildan Activewear Inc.$540.59Mreported value-572.6K shares-3.7%ORCLOracle Corporation$297.31Mreported value-1.42M shares-20.5%HALHalliburton Company$275.97Mreported value-1.72M shares

Exited positions

QCOMQualcomm Inc/de$179.08Mprior reported value-3.15M shares-100.0%AAPAdvance Auto Parts, Inc.$136.27Mprior reported value-865.5K shares-100.0%FDXFedex Corporation$53.47Mprior reported value-331.4K shares-100.0%INDAiShares Trust$19.07Mprior reported value-572.0K shares