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Funds (13F)

Causeway Capital Management LLC

Backtest from 16 Aug 2013 to 2 Nov 2026 · weekly · hypothetical

Watch this strategy
Return a year
+12.4%
S&P 500 +14.1%
Last 12 months
+13.7%
S&P 500 +12.1%
Sharpe ratio
0.61
S&P 500 0.78
Biggest drop
−41.3%
S&P 500 −31.8%
$10.0k$20.0k$40.0k 2013201520172019202120232025 $57.0k$47.0k
StrategyS&P 500 $10,000 in Causeway Capital Management LLC from 16 Aug 2013 against the S&P 500 (total return) over the same dates, marked weekly, log scale. Hypothetical: before taxes and trading costs.

About

Copies Causeway Capital Management LLC's quarterly 13F holdings in the companies we cover, weighted by reported value: it buys on the first trading day after each 13F is filed (up to 45 days after the quarter) and holds until the next filing. A 13F shows long US-listed positions only, at the quarter's end, so this misses shorts, cash, bonds, non-US holdings and trading within the quarter.

Causeway Capital Management LLC's 13F holdings →

Key statistics

MeasureStrategyS&P 500
Return a year (compound)+12.4%+14.1%
Total return+370%+470%
Last 12 months+13.7%+12.1%
Last 3 months+5.2%—
Last month+8.9%—
This year so far+5.5%—
Volatility a year19.0%16.0%
Sharpe ratio0.610.78
Biggest drop−41.3%−31.8%
Beta to the S&P 5001.011.00
Alpha a year (t-statistic)−1.0% (−0.36)—
Share of weeks up58%—

Sharpe ratio uses returns above the 3-month Treasury bill rate. Alpha is the yearly return left after allowing for the strategy's exposure to the S&P 500 (CAPM); a t-statistic below about 2 means it cannot be told apart from luck.

Insights

CompanyWeightHeld sinceReturn since
AZN24.1%——
CCL16.2%——
SW9.6%——
CP8.0%——
TSM3.5%——
ALK2.3%——
CARR2.2%——
LYV1.8%——
MRK1.7%——
META1.6%——
SAP1.3%——
BABA1.3%——
AXS1.3%——
EG1.2%——
IR1.2%——
PHG1.1%——
NVO1.1%——
JLL1.1%——
CFG1.0%——
NTES1.0%——
ZBH0.9%——
BA0.9%——
C0.9%——
NWG0.8%——
BIIB0.8%——
GFI0.8%——
ADI0.8%——
AU0.8%——
BAH0.7%——
TXN0.7%——
DTE0.7%——
PFE0.6%——
PUK0.6%——
TAL0.5%——
UNH0.5%——
DIS0.5%——
BTI0.5%——
BSX0.4%——
JD0.4%——
BUD0.4%——
PAGS0.4%——
BXP0.3%——
HTHT0.3%——
CGAU0.3%——
G0.3%——
CTSH0.3%——
ZIM0.3%——
FSM0.2%——
WB0.2%——
ARCO0.2%——
TD0.2%——
FINV0.1%——
HDB0.1%——
CM0.1%——
BWLP0.1%——
SU0.1%——
JOYY0.1%——
CLS0.1%——
TIGO0.1%——
HAFN0.1%——
STN0.1%——
GLBE0.1%——
MMYT0.1%——
MGA0.0%——
IAG0.0%——
MT0.0%——
ITRN0.0%——
OTEX0.0%——
CNQ0.0%——
NVDA0.0%——
INTR0.0%——
GSK0.0%——
BTG0.0%——
LRCX0.0%——
FIX0.0%——
RNR0.0%——
AVGO0.0%——
TRMD0.0%——
AAPL0.0%——
INMD0.0%——
ALL0.0%——
B0.0%——
PDS0.0%——
SLM0.0%——
MSFT0.0%——
VICI0.0%——
INN0.0%——

Weighted by reported value in the latest 13F, held until the next filing.

PeriodReturn a yearS&P 500SharpeS&P 500Biggest dropBetaAlpha (t)
Whole backtest16 Aug 2013 to 2 Nov 2026+12.4%+14.1%0.610.78−41.3%1.01−1.0% (−0.36)
2018 onwards5 Jan 2018 to 2 Nov 2026+9.1%+13.9%0.380.66−41.3%0.99−3.5% (−0.89)
Last three years3 Nov 2023 to 2 Nov 2026+19.2%+21.8%0.941.16−14.2%0.71+2.7% (0.41)
Last year7 Nov 2025 to 2 Nov 2026+15.1%+14.2%0.700.84−14.2%0.59+5.4% (0.37)
DateCompanyAction
14 Aug 2026VICIBought
14 Aug 2026TRMDBought
14 Aug 2026TDBought
14 Aug 2026SUBought
14 Aug 2026STNBought
14 Aug 2026SLMBought
14 Aug 2026OTEXBought
14 Aug 2026NTESBought
14 Aug 2026MGABought
14 Aug 2026LRCXBought
14 Aug 2026JDBought
14 Aug 2026INTRBought
14 Aug 2026IAGBought
14 Aug 2026HTHTBought
14 Aug 2026GLBEBought
14 Aug 2026CNQBought
14 Aug 2026CMBought
14 Aug 2026CCLBought
14 Aug 2026BSXBought
14 Aug 2026ARCOBought
15 May 2026UNHBought
15 May 2026TXNBought
15 May 2026TALBought
15 May 2026HAFNBought
15 May 2026DTEBought

Dated at the rebalance that made the change.

DateCompanyAction
14 Aug 2026WHRSold
14 Aug 2026TMESold
14 Aug 2026QFINSold
14 Aug 2026PDDSold
14 Aug 2026JBSSold
14 Aug 2026EFXTSold
14 Aug 2026APTVSold
15 May 2026VIPSSold
15 May 2026VALESold
15 May 2026PBYISold
15 May 2026MOMOSold
15 May 2026GPKSold
15 May 2026ALLYSold
20 Feb 2026XPSold
20 Feb 2026UNHSold
20 Feb 2026TCOMSold
20 Feb 2026SESold
20 Feb 2026ORCLSold
20 Feb 2026NTESSold
20 Feb 2026ATATSold
20 Feb 2026ADTSold
14 Nov 2025SNXSold
14 Nov 2025PCGSold
14 Nov 2025MELISold
14 Nov 2025JDSold

Dated at the rebalance that made the change.

Backtests are hypothetical and use today's listed companies only, which flatters results. Past performance does not predict future returns. This is research, not investment advice. How we backtest