N-PORT filing recap · December 2025

What did Causeway International Value Fund buy in December 2025?

Reported stock-position changes between this filing and the previous one. These are Causeway International Value Fund's own holdings, not the firm's.

Stock value

$1.30B

Positions

Estimated turnover

65.5%

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.

Period in review

Causeway International Value Fund exited iShares Trust and Glencore Plc during December. It substantially added to Novo Nordisk and sharply increased its Smurfit Westrock stake, while substantially trimming Barrick Mining. The fund also slightly reduced Carnival Corporation and Canadian Pacific Kansas City.

Increased positions

NVONovo Nordisk A/s$318.84Mreported value+1.99M shares+46.5%SWSmurfit Westrock Plc$265.24Mreported value+4.08M shares+146.9%

Reduced positions

CCLCarnival Corporation Ltd.$329.08Mreported value-222.0K shares-2.0%CPCanadian Pacific Kansas City Ltd/cn$307.46Mreported value-101.1K shares-2.4%BBarrick Mining Corp$83.06Mreported value-3.42M shares-64.2%

Exited positions

EFAiShares Trust$429.98Mprior reported value-4.61M shares-100.0%GLENGlencore Plc$142.80Mprior reported value-31.08M shares-100.0%