13F filing recap · Q1 2023

What did Causeway Capital Management buy in Q1 2023?

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

$4.17B

Positions

Estimated turnover

34.6%

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

UBSUbs Group AG$203.85Mreported value+9.65M shares BAPCredicorp Ltd$50.93Mreported value+384.7K shares GGBGerdau S.a.$34.82Mreported value+7.06M shares PCGPG&E Corp$31.53Mreported value+1.95M shares EXEChesapeake Energy Corporation$22.13Mreported value+291.0K shares JKSJinkosolar Holding Co., Ltd.$11.40Mreported value+223.5K shares DEODiageo Plc$10.08Mreported value+55.6K shares HIMXHimax Technologies, Inc.$8.67Mreported value+1.07M shares YPFYpf Sociedad Anonima$6.94Mreported value+632.2K shares ACWIiShares Trust$916.8Kreported value+10.1K shares

Increased positions

RYAAYRyanair Holdings Plc$871.51Mreported value+1.54M shares+20.1%CNICanadian National Railway Company$557.77Mreported value+495.5K shares+11.7%BBDBank Bradesco$145.59Mreported value+46.86M shares+537.7%GOOGAlphabet Inc.$94.93Mreported value+227.8K shares

Reduced positions

TSMTaiwan Semiconductor Manufacturing$254.55Mreported value-322.3K shares-10.5%BABAAlibaba Group Holding Limited$136.11Mreported value-52.7K shares-3.8%CNXCConcentrix Corporation$76.05Mreported value-2.7K shares-0.4%CARRCarrier Global Corporation$63.48Mreported value-58.2K shares

Exited positions

BKNGBooking Holdings Inc.$63.51Mprior reported value-31.5K shares-100.0%GEGeneral Electric Company$54.95Mprior reported value-655.8K shares-100.0%PBR.APetrobras - Petroleo Brasileiro SA$36.82Mprior reported value-3.96M shares-100.0%WFCWells Fargo & Company/mn$26.95Mprior reported value