Causeway Capital Management Trust NPORT-P Causeway International Opportunities Fund (Dec 2019 report)

SCHEDULE OF INVESTMENTS (000)*

December 31, 2019 (Unaudited)

Causeway International Opportunities Fund	Number of Shares		Value
COMMON STOCK
Brazil — 2.1%
Banco do Brasil SA1		79,000	$	1,037
CPFL Energia S.A.		35,100		310
IRB Brasil Resseguros SA		31,200		302
JBS SA		135,600		870
Lojas Renner SA		20,422		285
Petrobras Distribuidora SA		101,500		759
PPLA Participations Ltd.1		1,633		1
Qualicorp Consultoria e Corretora de Seguros SA		37,400		345
Smiles Fidelidade SA		20,100		196
Vale SA, Class B ADR1		48,941		646
				4,751
Canada — 2.7%
Canadian Imperial Bank of Commerce		16,638		1,385
Encana Corp.		618,515		2,896
Manulife Financial Corp.		87,257		1,771
				6,052
China — 9.7%
Agile Property Holdings Ltd.		106,000		159
Alibaba Group Holding Ltd. ADR1		15,771		3,345
Anhui Conch Cement Co. Ltd., Class H		131,177		956
Bank of China Ltd., Class H		2,395,000		1,024
China Communications Construction Co. Ltd., Class H		299,000		244
China Construction Bank Corp., Class H		2,268,401		1,959
China Everbright International Ltd.		104,000		83
China Lumena New Materials Corp.1,2,3		196,000		—
China Mobile Ltd.		70,516		593
China Mobile Ltd. ADR		3,335		141
China Petroleum & Chemical Corp., Class H		990,000		596
China Railway Construction Corp. Ltd., Class H		237,000		259
China Railway Group Ltd., Class H		319,000		197
China Telecom Corp. Ltd., Class H		398,000		164
Daqo New Energy Corp. ADR1		3,484		179
Dongfeng Motor Group Co. Ltd., Class H		186,000		175
Fosun International Ltd.		183,500		268
Guangzhou R&F Properties Co. Ltd., Class H		256,000		472
JD.com Inc. ADR1		15,800		557
JinkoSolar Holding Co. Ltd. ADR1		8,859		199
JOYY Inc. ADR1		3,677		194
Kweichow Moutai Co. Ltd., Class A		5,598		951
KWG Property Holding Ltd.		232,404		326
Lenovo Group Ltd.		574,000		385
New Oriental Education & Technology Group ADR1		4,384		532
Nine Dragons Paper Holdings Ltd.		90,000		94

1

SCHEDULE OF INVESTMENTS (000)*(continued)

December 31, 2019 (Unaudited)

Causeway International Opportunities Fund	Number of Shares		Value
China — (continued)
PICC Property & Casualty Co. Ltd., Class H		262,000	$	316
Ping An Insurance Group Co. of China Ltd., Class H		97,006		1,146
Qudian Inc. ADR1		24,600		116
Shanghai Pharmaceuticals Holding Co. Ltd., Class H		103,439		201
Shenzhen Overseas Chinese Town Co. Ltd., Class A		388,500		434
Shimao Property Holdings Ltd.		167,000		647
Sinopharm Group Co. Ltd., Class H		84,400		308
Tencent Holdings Ltd.		56,031		2,701
Vipshop Holdings Ltd. ADR1		33,400		473
Wuliangye Yibin Co. Ltd., Class A		26,900		513
Xinyi Glass Holdings Ltd.		108,000		143
Yum China Holdings Inc.		13,035		626
Zhejiang Expressway Co. Ltd., Class H		272,000		248
				21,924
Czech Republic — 0.1%
CEZ AS		6,542		147
France — 6.4%
AirFrance-KLM1		86,826		967
BNP Paribas SA		64,054		3,796
Carrefour SA		138,490		2,322
Danone SA		29,250		2,425
Ingenico Group SA		6,274		681
Total SA		78,411		4,327
				14,518
Germany — 12.4%
BASF SE		89,053		6,709
Bayer AG		42,490		3,454
Deutsche Post AG		93,978		3,574
Infineon Technologies AG		41,466		937
Linde PLC		21,468		4,607
SAP SE		28,152		3,789
Siemens AG		39,660		5,179
				28,249
India — 2.2%
Aurobindo Pharma Ltd.		22,999		147
Biocon Ltd.		27,005		111
Dishman Carbogen Amcis Ltd.		24,536		29
Dr Reddy’s Laboratories Ltd. ADR		5,033		204
HCL Technologies Ltd.		55,596		443
HEG Ltd.		4,179		62
Hindalco Industries Ltd.		102,378		310
Hindustan Petroleum Corp. Ltd.		53,289		198
Hindustan Unilever Ltd.		17,121		461

2

SCHEDULE OF INVESTMENTS (000)*(continued)

December 31, 2019 (Unaudited)

Causeway International Opportunities Fund	Number of Shares		Value
India — (continued)
ICICI Bank Ltd. ADR		47,620	$	719
Indian Oil Corp. Ltd.		170,516		300
Jubilant Foodworks Ltd.		5,982		138
Larsen & Toubro Ltd.		12,185		222
Oil & Natural Gas Corp. Ltd.		164,837		297
REC Ltd.		128,135		257
Tata Consultancy Services Ltd.		12,289		372
Tata Steel Ltd.		75,666		500
Titan Co. Ltd.		8,508		142
Vedanta Ltd.		61,178		131
				5,043
Indonesia — 0.1%
Indofood Sukses Makmur Tbk PT		476,456		272
Ireland — 1.3%
Ryanair Holdings PLC ADR1		34,168		2,993
Italy — 2.9%
UniCredit SpA		455,003		6,651
Japan — 10.1%
Coca-Cola Bottlers Japan Holdings Inc.		21,800		557
East Japan Railway Co.		24,800		2,238
Fanuc Corp.		29,900		5,521
KDDI Corp.		111,400		3,324
Murata Manufacturing Co. Ltd.		15,600		960
Sompo Holdings Inc.		38,900		1,528
Sumitomo Mitsui Financial Group Inc.		61,300		2,264
Takeda Pharmaceutical Co. Ltd.		166,300		6,578
				22,970
Malaysia — 0.2%
AirAsia Group Bhd		341,100		142
Malayan Banking Bhd		54,614		115
Tenaga Nasional Bhd		32,000		104
				361
Mexico — 0.3%
Alfa SAB de CV, Class A		161,248		134
Gruma SAB de CV, Class B		6,033		62
Grupo Financiero Banorte SAB de CV, Class O		75,260		420
				616
Netherlands — 2.4%
Akzo Nobel NV		28,242		2,872

3

SCHEDULE OF INVESTMENTS (000)*(continued)

December 31, 2019 (Unaudited)

Causeway International Opportunities Fund	Number of Shares		Value
Netherlands — (continued)
ING Groep NV		208,715	$	2,502
				5,374
Peru — 0.2%
Credicorp Ltd.		2,612		557
Poland — 0.2%
PGE Polska Grupa Energetyczna SA1		53,365		112
Polski Koncern Naftowy Orlen SA		3,321		75
Powszechny Zaklad Ubezpieczen SA		27,653		292
				479
Qatar — 0.0%
Qatar National Bank QPSC		18,579		105
Russia — 2.0%
Gazprom PJSC ADR		130,841		1,077
Lukoil PJSC ADR		13,420		1,331
MMC Norilsk Nickel PJSC ADR		20,008		611
Mobile TeleSystems PJSC ADR		48,301		490
Sberbank of Russia PJSC ADR		61,696		1,014
				4,523
South Africa — 0.3%
Absa Group Ltd.		24,111		257
African Rainbow Minerals Ltd.		7,495		87
Barloworld Ltd.		19,980		161
Exxaro Resources Ltd.		12,456		117
Mediclinic International PLC		7,460		41
Redefine Properties Ltd.4		143,020		77
				740
South Korea — 3.6%
Daelim Industrial Co. Ltd.		1,406		110
Fila Korea Ltd.		5,962		272
Hana Financial Group Inc.		19,100		607
Hanwha Corp.		5,038		109
Hyosung Corp.		3,159		215
Hyundai Marine & Fire Insurance Co. Ltd.		3,881		90
KB Financial Group Inc.		17,401		717
Kia Motors Corp.		16,101		615
LG Corp.		4,084		260
LG Electronics Inc.		4,601		286
Meritz Fire & Marine Insurance Co. Ltd.		2,365		37
POSCO		3,942		801
Samsung Electronics Co. Ltd.		58,543		2,821
SK Hynix Inc.		7,285		593

4

SCHEDULE OF INVESTMENTS (000)*(continued)

December 31, 2019 (Unaudited)

Causeway International Opportunities Fund	Number of Shares		Value
South Korea — (continued)
SK Telecom Co. Ltd.		2,256	$	465
Woori Financial Group Inc.		25,124		252
				8,250
Spain — 0.8%
CaixaBank SA		605,868		1,901
Switzerland — 6.0%
ABB Ltd.		219,411		5,293
Aryzta AG1		408,364		456
Cie Financiere Richemont SA		10,201		797
Novartis AG		45,658		4,323
Roche Holding AG		8,472		2,754
				13,623
Taiwan — 4.2%
Accton Technology Corp.		87,000		487
Arcadyan Technology Corp.		65,843		207
Compal Electronics Inc.		204,000		128
Compeq Manufacturing Co. Ltd.		162,000		244
Coretronic Corp.		47,800		62
Delta Electronics Inc.		76,000		384
FLEXium Interconnect Inc.		45,732		175
Formosa Chemicals & Fibre Corp.		21,000		61
Fubon Financial Holding Co. Ltd.		257,396		398
HON HAI Precision Industry Co. Ltd.		291,292		882
Inventec Corp.		282,000		215
Lite-On Technology Corp.		133,896		221
MediaTek Inc.		45,000		666
Pegatron Corp.		67,938		155
Powertech Technology Inc.		164,000		546
Radiant Opto-Electronics Corp.		73,455		294
Realtek Semiconductor Corp.		39,775		312
Sino-American Silicon Products Inc.		115,000		381
Taiwan Semiconductor Manufacturing Co. Ltd. ADR		48,286		2,805
WPG Holdings Ltd.		111,080		145
Yuanta Financial Holding Co. Ltd.		474,130		320
Zhen Ding Technology Holding Ltd.		74,000		353
				9,441
Thailand — 0.7%
Charoen Pokphand Foods PCL		577,500		529
Kiatnakin Bank PCL		89,500		197
Krung Thai Bank PCL		198,500		109
Sansiri PCL		2,257,200		82
Thanachart Capital		203,500		363

5

SCHEDULE OF INVESTMENTS (000)*(continued)

December 31, 2019 (Unaudited)

Causeway International Opportunities Fund	Number of Shares		Value
Thailand — (continued)
Tisco Financial Group PCL		80,100	$	265
				1,545
Turkey — 0.3%
Haci Omer Sabanci Holding AS		73,252		118
Tekfen Holding AS		92,055		299
Turkcell Iletisim Hizmetleri AS		67,306		156
				573
United Arab Emirates — 0.1%
DAMAC Properties Dubai Co. PJSC1		162,440		33
DP World PLC		10,264		134
Dubai Islamic Bank PJSC		98,666		148
				315
United Kingdom — 21.8%
AstraZeneca PLC		32,794		3,305
Aviva PLC		472,027		2,618
Balfour Beatty PLC		609,966		2,112
Barclays PLC		2,137,181		5,086
BP PLC		668,371		4,175
British American Tobacco PLC		130,509		5,586
Cobham PLC		250,584		545
Johnson Matthey PLC		49,590		1,968
Lloyds Banking Group PLC		1,723,627		1,427
Micro Focus International PLC		115,440		1,627
Prudential PLC		223,627		4,292
RELX PLC		79,096		1,996
Rolls-Royce Group PLC1		512,854		4,641
Royal Dutch Shell PLC, Class B		146,106		4,334
SSE PLC		130,214		2,481
Vodafone Group PLC		1,751,383		3,405
				49,598
Total Common Stock
(Cost $206,064) — 93.1%				211,571
PREFERRED STOCK
Germany — 3.7%
Volkswagen AG‡		42,807		8,426
Total Preferred Stock
(Cost $6,889) — 3.7%				8,426
PREFERENCE STOCK
Brazil — 0.8%
Cia Brasileira de Distribuicao1‡		18,600		405
Cia Paranaense de Energia‡		12,100		208

6

SCHEDULE OF INVESTMENTS (000)*(continued)

December 31, 2019 (Unaudited)

Causeway International Opportunities Fund	Number of Shares		Value
Brazil — (continued)
Itausa - Investimentos Itau SA‡		334,756	$	1,172
				1,785
South Korea — 0.0%
LG Chemical Ltd.‡		949		142
Total Preference Stock
(Cost $1,823) — 0.8%				1,927
SHORT-TERM INVESTMENT
Invesco Short-Term Investment Trust: Government & Agency Portfolio, Institutional Class, 1.500% **		1,517,267		1,517
Total Short-Term Investment
(Cost $1,517) — 0.7%				1,517
Total Investments — 98.3%
(Cost $216,293)				223,441
Other Assets in Excess of Liabilities — 1.7%				3,838
Net Assets — 100.0%			$	227,279

* Except for share data.

** The rate reported is the7-day effective yield as of December 31, 2019.

‡ There is currently no rate available.

1 Non-income producing security.

2 Securities considered illiquid. The total market value of such securities as of December 31, 2019 was $— and represented 0.0% of net assets.

3 Level 3 security in accordance with fair value hierarchy. Security fair valued using methods determined in good faith by the Fair Value Committee designated by the Board of Trustees. The total market value of such securities as of December 31, 2019 was $— and represented 0.0% of net assets.

4 Real Estate Investment Trust.

ADR American Depositary Receipt

7

SCHEDULE OF INVESTMENTS (000)(concluded)

December 31, 2019 (Unaudited)

The table below sets forth information about the Levels within the fair value hierarchy at which the Fund’s investments are measured at December 31, 2019:

Investments in Securities	Level 1		Level 2		Level 3††		Total
Common Stock
Brazil	$	4,751	$	—	$	—	$	4,751
Canada		6,052		—		—		6,052
China		21,924		—		—^		21,924
Czech Republic		147		—		—		147
France		14,518		—		—		14,518
Germany		—		28,249		—		28,249
India		5,043		—		—		5,043
Indonesia		—		272		—		272
Ireland		2,993		—		—		2,993
Italy		—		6,651		—		6,651
Japan		—		22,970		—		22,970
Malaysia		361		—		—		361
Mexico		616		—		—		616
Netherlands		5,374		—		—		5,374
Peru		557		—		—		557
Poland		—		479		—		479
Qatar		105		—		—		105
Russia		4,523		—		—		4,523
South Africa		740		—		—		740
South Korea		—		8,250		—		8,250
Spain		1,901		—		—		1,901
Switzerland		—		13,623		—		13,623
Taiwan		9,441		—		—		9,441
Thailand		—		1,545		—		1,545
Turkey		573		—		—		573
United Arab Emirates		315		—		—		315
United Kingdom		49,598		—		—		49,598
Total Common Stock		129,532		82,039		—		211,571
Preferred Stock		—		8,426		—		8,426
Preference Stock
Brazil		1,785		—		—		1,785
South Korea		—		142		—		142
Total Preference Stock		1,785		142		—		1,927
Short-Term Investment		1,517		—		—		1,517
Total Investments in Securities	$	132,834	$	90,607	$	—	$	223,441

†† A reconciliation of Level 3 investments and disclosures of significant unobservable inputs are presented when the Fund has a significant amount of Level 3 investments at the beginning and/or end of the period in relation to net assets. Management has concluded that Level 3 investments are not material in relation to net assets.

For the period ended December 31, 2019, there were no transfers in or out of Level 3.

^ Security is fair valued at zero due to company’s insolvency. Level 3 security in accordance with fair value hierarchy.

Amounts designated as “—” are $0.

For information on the Fund’s policies regarding valuation of investments, fair value hierarchy levels and other significant accounting policies, please refer to the Fund’s most recent semi-annual and annual financial statements.

CCM-QH-004-2100

8