Yahoo Finance Renesas Electronics Corp Sees Major Stake Increase by Causeway International Value in Q2 2024
Insightful Portfolio Adjustments Highlight Strategic Moves
Causeway International Value (Trades, Portfolio), known for its strategic investments in developed international markets, recently disclosed its N-PORT filing for the second quarter of 2024. The fund, established on October 26, 2001, targets long-term capital and income growth through investments in dividend-paying or share-repurchasing companies outside the U.S., with a possible 15% allocation towards emerging markets. Employing a value-driven, bottom-up approach, the fund focuses on mid- to large-cap stocks, leveraging a dedicated team's expertise to optimize portfolio performance.
New Additions to the Portfolio
Causeway International Value (Trades, Portfolio) expanded its portfolio by adding seven new stocks. Notable new holdings include:
Fujitsu Ltd (TSE:6702), purchasing 8,109,700 shares, making up 1.43% of the portfolio, valued at 126.87 billion.
Standard Chartered PLC (LSE:STAN) with 7,840,337 shares, representing 0.8% of the portfolio, valued at 70,962,250.
ArcelorMittal SA (XAMS:MT), acquiring 1,684,978 shares, accounting for 0.43% of the portfolio, valued at 38,562,760.
Significant Increases in Existing Positions
During the quarter, Causeway International Value (Trades, Portfolio) increased its stakes in 47 stocks. Key increases include:
Renesas Electronics Corp (TSE:6723), with an additional 9,840,100 shares, bringing the total to 11,364,400 shares. This 645.55% increase in shares now represents 2.07% of the portfolio, valued at 212.54 billion.
Compagnie de Saint-Gobain SA (XPAR:SGO), with an additional 1,476,819 shares, bringing the total to 1,867,495 shares, valued at 145.24 million.
Complete Exits from Certain Holdings
The fund also completely exited positions in six stocks, including:
Alimentation Couche-Tard Inc (TSX:ATD), selling all 1,010,091 shares, impacting the portfolio by -0.77%.
Compagnie Financiere Richemont SA (XSWX:CFR), liquidating all 321,880 shares, impacting the portfolio by -0.65%.
Reductions in Key Holdings
Additionally, Causeway International Value (Trades, Portfolio) reduced its positions in 14 stocks. Significant reductions include:
Rolls-Royce Holdings PLC (LSE:RR.) by 12,063,745 shares, a -14.03% decrease, impacting the portfolio by -0.87%. The stock traded at an average price of 4.35 during the quarter, returning 11.90% over the past three months and 66.90% year-to-date.
Allianz SE (XTER:ALV) by 187,698 shares, a -45.23% reduction, impacting the portfolio by -0.75%. The stock traded at an average price of 264.18 during the quarter, returning 5.57% over the past three months and 22.18% year-to-date.
Portfolio Overview and Sector Allocation
As of the second quarter of 2024, Causeway International Value (Trades, Portfolio)'s portfolio included 68 stocks. Top holdings were 4.81% in Rolls-Royce Holdings PLC, 4.33% in Samsung Electronics Co Ltd (XKRX:005930), 3.33% in Barclays PLC (LSE:BARC), 3.22% in Shell PLC (XAMS:SHELL), and 3.11% in Alstom SA (XPAR:ALO). The holdings span across all 11 industries, including Industrials, Financial Services, and Technology, among others.
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.
This article first appeared on GuruFocus.
