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Fund Boosts SAP, National Grid in Q3 2025
29 Nov
Summary
- Causeway International Value fund significantly increased SAP SE and National Grid stakes.
- The fund added iShares MSCI EAFE ETF, LVMH, and Eurobank as new holdings.
- Causeway International Value fund completely exited seven investments in the quarter.
In the third quarter of 2025, Causeway International Value fund executed substantial portfolio rebalancing. The fund's investment strategy, focused on long-term capital growth and income from developed international markets, guided these recent decisions. A key move involved significant increases in existing holdings, most notably SAP SE and National Grid PLC, with share counts for both experiencing over a 100% rise.
Beyond increasing stakes, the fund also introduced new positions. The most substantial new buy was iShares MSCI EAFE ETF, followed by LVMH Moet Hennessy Louis Vuitton SE and Eurobank Ergasias Services And Holdings SA. These additions reflect a strategic expansion of the fund's investment universe.
Concurrently, Causeway International Value fund completely exited seven stock positions. Notable among these were AXA SA and Fujitsu Ltd, indicating a clear strategy to divest from certain assets while reinvesting in others deemed more promising for value-driven growth.
