Insights from Causeway International Value (Trades, Portfolio)'s Latest N-PORT Filing
Causeway International Value (Trades, Portfolio) recently submitted its N-PORT filing for the third quarter of 2024, offering a glimpse into its strategic investment decisions during this period. Established on October 26, 2001, the Causeway International Value (Trades, Portfolio) Fund is managed with a focus on long-term capital and income growth by investing in companies located in developed countries outside the U.S. The fund's investment philosophy is value-driven, employing a fundamentally based, bottom-up approach to stock selection. It primarily targets mid- to large-cap stocks in developed international markets, providing diversification benefits to a U.S. portfolio. The fund also emphasizes companies with experienced personnel and a dedicated team focus.
Summary of New Buy
Causeway International Value (Trades, Portfolio) added a total of five stocks, among them:
- The most significant addition was SMC Corp (TSE:6273, Financial), with 290,900 shares, accounting for 1.14% of the portfolio and a total value of ¥12,882,787,000.
- The second largest addition to the portfolio was iShares MSCI EAFE ETF (EFA, Financial), consisting of 1,112,522 shares, representing approximately 0.82% of the portfolio, with a total value of $93,040,210.
- The third largest addition was Smurfit WestRock PLC (SW, Financial), with 1,351,926 shares, accounting for 0.59% of the portfolio and a total value of $66,812,180.
Key Position Increases
Causeway International Value (Trades, Portfolio) also increased stakes in a total of 48 stocks, among them:
- The most notable increase was Kering SA (XPAR:KER, Financial), with an additional 628,469 shares, bringing the total to 1,303,650 shares. This adjustment represents a significant 93.08% increase in share count, a 1.59% impact on the current portfolio, with a total value of €372,730,560.
- The second largest increase was Reckitt Benckiser Group PLC (LSE:RKT, Financial), with an additional 2,044,652 shares, bringing the total to 5,409,179. This adjustment represents a significant 60.77% increase in share count, with a total value of £331,000,070.
Summary of Sold Out
Causeway International Value (Trades, Portfolio) completely exited six holdings in the third quarter of 2024, as detailed below:
- Novartis AG (XSWX:NOVN, Financial): Causeway International Value (Trades, Portfolio) sold all 1,050,734 shares, resulting in a -1.27% impact on the portfolio.
- Iberdrola SA (XMAD:IBE, Financial): Causeway International Value (Trades, Portfolio) liquidated all 5,828,339 shares, causing a -0.85% impact on the portfolio.
Key Position Reduces
Causeway International Value (Trades, Portfolio) also reduced positions in 13 stocks. The most significant changes include:
- Reduced Shell PLC (XAMS:SHELL, Financial) by 4,447,393 shares, resulting in a -55.95% decrease in shares and a -1.8% impact on the portfolio. The stock traded at an average price of €32.26 during the quarter and has returned -2.68% over the past 3 months and 8.69% year-to-date.
- Reduced Aena SME SA (XMAD:AENA, Financial) by 258,379 shares, resulting in a -47.8% reduction in shares and a -0.58% impact on the portfolio. The stock traded at an average price of €184.93 during the quarter and has returned 13.64% over the past 3 months and 28.81% year-to-date.
Portfolio Overview
At the end of the third quarter of 2024, Causeway International Value (Trades, Portfolio)'s portfolio included 67 stocks. The top holdings included 4.57% in Rolls-Royce Holdings PLC (LSE:RR., Financial), 3.64% in Alstom SA (XPAR:ALO, Financial), 3.37% in Samsung Electronics Co Ltd (XKRX:005930, Financial), 3.33% in Barclays PLC (LSE:BARC, Financial), and 3.29% in Kering SA (XPAR:KER, Financial).
The holdings are mainly concentrated in all 11 industries: Industrials, Financial Services, Technology, Consumer Defensive, Healthcare, Consumer Cyclical, Basic Materials, Utilities, Energy, Communication Services, and Real Estate.
This article, generated by GuruFocus, is designed to provide general insights and is not tailored financial advice. Our commentary is rooted in historical data and analyst projections, utilizing an impartial methodology, and is not intended to serve as specific investment guidance. It does not formulate a recommendation to purchase or divest any stock and does not consider individual investment objectives or financial circumstances. Our objective is to deliver long-term, fundamental data-driven analysis. Be aware that our analysis might not incorporate the most recent, price-sensitive company announcements or qualitative information. GuruFocus holds no position in the stocks mentioned herein.
