Causeway Capital Management LLC 13F holdings and portfolio analysis
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Baseline
Analysis messagesPre-generated Q&A about this fund. Use as reference context for your own analysis.
The baseline is a direct read-through of the disclosed fund portfolio. It is led by CCL (Carnival Corporation & plc) 27.00%, SW (Smurfit Westrock Plc) 17.45%, and BABA (Alibaba Group Holding Limited) 3.77%, with sector exposure of Consumer Discretionary 34.60%, Materials 19.88%, and Industrials 11.14%. The baseline metrics show return 8.21%, alpha -3.29%, beta 0.89, Sharpe 0.52, Sortino 0.66, and max drawdown -47.78%, so this should be treated as an equity exposure with its own concentration and timing risk rather than a neutral benchmark clone.
Concentration is the first item to inspect: top 5 54.44%, top 10 66.73%, top 20 86.91%. The largest names are CCL (Carnival Corporation & plc) 27.00%, SW (Smurfit Westrock Plc) 17.45%, BABA (Alibaba Group Holding Limited) 3.77%, CARR (Carrier Global Corporation) 3.33%, and MRK (Merck & Co., Inc.) 2.89%, and the largest sector exposures are Consumer Discretionary 34.60%, Materials 19.88%, and Industrials 11.14%. If those exposures reverse, baseline performance can diverge sharply from a broad index.
The strongest recent period was 2025-09-30 (12.40% strategy return, 1.46% benchmark, 10.94% excess, 27.04% turnover), while the weakest was 2025-12-31 (-9.51% strategy return, 9.57% benchmark, -19.08% excess, 28.84% turnover). Those periods should be read alongside baseline metrics of return 8.21%, alpha -3.29%, beta 0.89, Sharpe 0.52, Sortino 0.66, and max drawdown -47.78% to judge whether returns came from persistent exposure or a narrow timing window.