# EDGAR Filing Document

**Accession Number:** 0001156906
**File Stem:** 0001398344-25-022055
**Filing Date:** 2025-12
**Character Count:** 142760
**Document Hash:** 7c7a3c813b1cdfa412406f01e7903461
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001398344-25-022055.hdr.sgml**: 20251205

**ACCESSION NUMBER**: 0001398344-25-022055

**CONFORMED SUBMISSION TYPE**: N-CSR

**PUBLIC DOCUMENT COUNT**: 23

**CONFORMED PERIOD OF REPORT**: 20250930

**FILED AS OF DATE**: 20251205

**DATE AS OF CHANGE**: 20251205

**EFFECTIVENESS DATE**: 20251205

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** CAUSEWAY CAPITAL MANAGEMENT TRUST
- **CENTRAL INDEX KEY:** 0001156906

**ORGANIZATION NAME:**
- **EIN:** 000000000
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 0930

**FILING VALUES:**
- **FORM TYPE:** N-CSR
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-10467
- **FILM NUMBER:** 251553664

**BUSINESS ADDRESS:**
- **STREET 1:** 11111 SANTA MONICA BLVD
- **STREET 2:** SUITE 1500
- **CITY:** LOS ANGELES
- **STATE:** CA
- **ZIP:** 90025
- **BUSINESS PHONE:** 310 231 6100

**MAIL ADDRESS:**
- **STREET 1:** 11111 SANTA MONICA BLVD
- **STREET 2:** SUITE 1500
- **CITY:** LOS ANGELES
- **STATE:** CA
- **ZIP:** 90025

## Series and Classes Contracts Data

### Causeway Emerging Markets Fund (Series ID: S000015654)

| Class ID   | Class Name          | Ticker Symbol   |
|:---|:---|:---|
| C000042684 | Investor Class      | CEMVX           |
| C000042685 | Institutional Class | CEMIX           |

?xml version='1.0' encoding='ASCII'? Consolidated ssr-output-EDGAR XBRL File

**UNITED STATES**

**SECURITIES AND EXCHANGE COMMISSION**

**Washington, D.C. 20549**

**FORM N-CSR**

**CERTIFIED SHAREHOLDER REPORT OF REGISTERED MANAGEMENT**

**INVESTMENT COMPANIES**

**Investment Company Act File Number 811-10467**

**Causeway Capital Management Trust**

(Exact name of registrant as specified in charter)

11111 Santa Monica Boulevard, 15th Floor

c/o Causeway Capital Management LLC

Los Angeles, CA 90025

(Address of principal executive offices) (Zip code)

The Corporation Trust Company

Corporation Trust Center

1209 Orange Street

Wilmington DE, 19801

(Name and address of agent for service)

**Registrant's telephone number, including area code: 1-866-947-7000**

**Date of fiscal year end: September 30, 2025**

**Date of reporting period: September 30, 2025**

**Item 1.** **Reports to Stockholders.**

(a) A copy of the report transmitted to stockholders pursuant to Rule 30e-1 under the Investment Company Act of 1940, as amended (the "Act") (17 CFR § 270.30e-1) is attached hereto.

**# Causeway Capital Management Trust
![Image](ic69931201c07ccce6eab328a.jpg)

## Causeway Emerging Markets Fund

#### Institutional Class - CEMIX

## Annual Shareholder Report: September 30, 2025
This annual shareholder report contains important information about the Institutional Class of the Causeway Emerging Markets Fund (the "Fund") for the period from October 1, 2024 to September 30, 2025. You can find additional information about the Fund at https://www.causewaycap.com/documents/#documents-emerging-markets-fund. You can also request this information by contacting us at 1-866-947-7000.

## What were the Fund costs for the last year?
(based on a hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
| <u>Fund Name</u> | <u>Costs of a $10,000 investment</u> | <u>Costs paid as a percentage of a $10,000 investment</u> |
| Causeway Emerging Markets Fund, Institutional Class | $120 | 1.09% |

---

## How did the Fund perform in the last year?
• The Fund's Institutional Class outperformed the MSCI Emerging Markets Index (USD) (NR)\* ("Index") during the twelve months ended September 30, 2025. The performance for the period is shown in the Average Annual Total Returns table below.

• The top performing markets in our investable universe were Colombia, Greece, and the Czech Republic. The worst performing markets were Indonesia, the Philippines, and India. The best performing sectors in the Index were communication services, information technology, and materials. The worst performing sectors were consumer staples, utilities, and energy.

• On a gross return basis, Fund holdings in the financials, consumer staples, and consumer discretionary sector groups contributed to relative performance. Holdings in the industrials, information technology, and materials sector groups detracted from relative performance.

• The top stock-level contributor to relative performance was an overweight position in biopharmaceutical developer, 3SBio, Inc. (China). Other notable contributors included an overweight position in designer toy company, Pop Mart International Group Ltd. (China), and an underweight position in e-commerce platform for local products & services, Meituan (China). The largest detractor from relative performance was an overweight position in electric infrastructure company, REC Ltd. (India). Other notable detractors included underweight positions in communication equipment manufacturer Xiaomi Corp. (China), and internet commerce company Alibaba Group Holding Ltd. (China).

• Near the end of the fiscal year, the Fund sold certain holdings to realize tax losses and purchased one or more exchange-traded funds ("ETFs") to temporarily equitize cash, and one or more ETFs appear as a Country/Asset Weighting and/or as a Top Ten Holding on the next page.

## How did the Fund perform during the last 10 years?

## Total Return Based on $1,000,000 Investment
![Growth Chart](i30dfe27c0353a829961f8708.jpg)

---

| | | |
|:---|:---|:---|
| | Causeway Emerging Markets Fund, Institutional Class | MSCI Emerging Markets Index (USD) (NR)<sup>Footnote Reference\*</sup> |
| Sep/15 | $1000000 | $1000000 |
| Sep/16 | $1107002 | $1167834 |
| Sep/17 | $1384637 | $1430123 |
| Sep/18 | $1339697 | $1418512 |
| Sep/19 | $1270691 | $1389909 |
| Sep/20 | $1395057 | $1536388 |
| Sep/21 | $1647024 | $1816076 |
| Sep/22 | $1179361 | $1305501 |
| Sep/23 | $1383624 | $1458236 |
| Sep/24 | $1812818 | $1838138 |
| Sep/25 | $2186170 | $2156552 |

---

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;Footnote<sup>\*</sup> | &nbsp;&nbsp;Net Return (NR) - Reflects no deductions for fees, expenses or taxes (except foreign withholding taxes). |

---

The line graph represents historical performance of a hypothetical investment of $1,000,000 in the Fund during the last 10 years. Returns shown are total returns, which assume the reinvestment of dividends and capital gains. The table and graph presented above do not reflect the deduction of taxes a shareholder would pay on Fund distributions or the redemption of Fund Shares. Past performance is not indicative of future performance.Call 1-866-947-7000 or visit https://www.causewaycap.com/fund/emerging-markets-fund/ for current month-end performance.

## Average Annual Total Returns as of September 30, 2025

---

| | | | |
|:---|:---|:---|:---|
| <u>Fund/Index Name</u> | <u>1 Year</u> | <u>5 Years</u> | <u>10 Years</u> |
| Causeway Emerging Markets Fund, Institutional Class | 20.60% | 9.40% | 8.14% |
| MSCI Emerging Markets Index (USD) (NR)<sup>Footnote Reference\*</sup> | 17.32% | 7.02% | 7.99% |

---

## Key Fund Statistics as of September 30, 2025

---

| | | | |
|:---|:---|:---|:---|
| <u>Total Net Assets (000's)</u> | <u>Number of Holdings</u> | <u>Total Advisory Fees Paid (000's)</u> | <u>Portfolio Turnover Rate</u> |
| $2655690 | 180 | $21896 | 92% |

---

## What did the Fund invest in?

### Country/Asset Weightings<sup>Footnote Reference \*</sup>
![Holdings Chart](ieea724e05b49f5997cdb63b3.jpg)

---

| | |
|:---|:---|
| Value | Value.1 |
| Futures Contracts | 0.0% |
| Other Countries | 5.1% |
| Peru | 0.8% |
| Indonesia | 0.8% |
| Turkey | 1.2% |
| United Arab Emirates | 1.5% |
| South Africa | 2.1% |
| Exchange-Traded Fund | 2.4% |
| Short-Term Investment | 3.3% |
| Brazil | 3.8% |
| India | 10.3% |
| South Korea | 14.3% |
| Taiwan | 19.6% |
| China | 34.3% |

---

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;Footnote<sup>\*</sup> | &nbsp;&nbsp;Percentages are calculated based on total net assets. |

---

### Top Ten Holdings

---

| | |
|:---|:---|
| <u>Holding Name</u> | <u>Percentage of Total Net Assets<sup>Footnote Reference(A)</sup></u> |
| Taiwan Semiconductor Manufacturing Co. Ltd. | 8.3% |
| Tencent Holdings Ltd. | 7.2% |
| Alibaba Group Holding Ltd. ADR | 2.9% |
| China Construction Bank Corp., Class H | 2.4% |
| Samsung Electronics Co. Ltd. | 2.2% |
| SK Hynix Inc. | 2.0% |
| Taiwan Semiconductor Manufacturing Co. Ltd. ADR | 1.7% |
| iShares MSCI India ETF | 1.6% |
| Citigroup Global Markets Holdings Inc. (Underlying Reference is a Basket Consisting of China A Shares and Hong Kong listed Shares) | 1.6% |
| Citigroup Global Markets Holdings Inc. (Underlying Reference is the MSCI China A Inclusion Net Return USD Index) | 1.6% |

---

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;Footnote<sup>(A)</sup> | &nbsp;&nbsp;Short-Term Investments are not shown in the top ten chart. |

---

## Material Fund Changes
There were no material changes during the reporting period.

## Changes in and Disagreements with Accountants
There were no changes in or disagreements with accountants during the reporting period.

## Additional Information
For additional information about the Fund, including its prospectus, financial information, holdings, and proxy voting information, call or visit:

* 1-866-947-7000 

* https://www.causewaycap.com/documents/#documents-emerging-markets-fund 

## Householding
Rule 30e-1 of the Investment Company Act of 1940 permits funds to transmit only one copy of a proxy statement, annual report or semi-annual report to shareholders (who need not be related) with the same residential, commercial or electronic address, provided that the shareholders have consented in writing and the reports are addressed either to each shareholder individually or to the shareholders as a group. This process is known as "householding" and is designed to reduce the duplicate copies of materials that shareholders receive and to lower printing and mailing costs for funds. Once implemented, if you would like to discontinue householding for your accounts, please call toll-free at 1-866-947-7000 to request individual copies of these documents. Once the Fund receives notice to stop householding, we will begin sending individual copies 30 days after receiving your request.

#### Causeway Capital Management Trust

#### Causeway Emerging Markets Fund / Institutional Class - CEMIX
Annual Shareholder Report: September 30, 2025

CEMIX-AR-2025

![Image](ic69931201c07ccce6eab328a.jpg)

# Causeway Capital Management Trust
![Image](ic69931201c07ccce6eab328a.jpg)

## Causeway Emerging Markets Fund

#### Investor Class - CEMVX

## Annual Shareholder Report: September 30, 2025
This annual shareholder report contains important information about the Investor Class of the Causeway Emerging Markets Fund (the "Fund") for the period from October 1, 2024 to September 30, 2025. You can find additional information about the Fund at https://www.causewaycap.com/documents/#documents-emerging-markets-fund. You can also request this information by contacting us at 1-866-947-7000.

## What were the Fund costs for the last year?
(based on a hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
| <u>Fund Name</u> | <u>Costs of a $10,000 investment</u> | <u>Costs paid as a percentage of a $10,000 investment</u> |
| Causeway Emerging Markets Fund, Investor Class | $148 | 1.34% |

---

## How did the Fund perform in the last year?
• The Fund's Investor Class outperformed the MSCI Emerging Markets Index (USD) (NR)\* ("Index") during the twelve months ended September 30, 2025. The performance for the period is shown in the Average Annual Total Returns table below.

• The top performing markets in our investable universe were Colombia, Greece, and the Czech Republic. The worst performing markets were Indonesia, the Philippines, and India. The best performing sectors in the Index were communication services, information technology, and materials. The worst performing sectors were consumer staples, utilities, and energy.

• On a gross return basis, Fund holdings in the financials, consumer staples, and consumer discretionary sector groups contributed to relative performance. Holdings in the industrials, information technology, and materials sector groups detracted from relative performance.

• The top stock-level contributor to relative performance was an overweight position in biopharmaceutical developer, 3SBio, Inc. (China). Other notable contributors included an overweight position in designer toy company, Pop Mart International Group Ltd. (China), and an underweight position in e-commerce platform for local products & services, Meituan (China). The largest detractor from relative performance was an overweight position in electric infrastructure company, REC Ltd. (India). Other notable detractors included underweight positions in communication equipment manufacturer Xiaomi Corp. (China), and internet commerce company Alibaba Group Holding Ltd. (China).

• Near the end of the fiscal year, the Fund sold certain holdings to realize tax losses and purchased one or more exchange-traded funds ("ETFs") to temporarily equitize cash, and one or more ETFs appear as a Country/Asset Weighting and/or as a Top Ten Holding on the next page.

## How did the Fund perform during the last 10 years?

## Total Return Based on $10,000 Investment
![Growth Chart](id33809cd589bca140e2d5ac7.jpg)

---

| | | |
|:---|:---|:---|
| | Causeway Emerging Markets Fund, Investor Class | MSCI Emerging Markets Index (USD) (NR)<sup>Footnote Reference\*</sup> |
| Sep/15 | $10000 | $10000 |
| Sep/16 | $11053 | $11678 |
| Sep/17 | $13784 | $14301 |
| Sep/18 | $13301 | $14185 |
| Sep/19 | $12594 | $13899 |
| Sep/20 | $13796 | $15364 |
| Sep/21 | $16249 | $18161 |
| Sep/22 | $11597 | $13055 |
| Sep/23 | $13598 | $14582 |
| Sep/24 | $17755 | $18381 |
| Sep/25 | $21373 | $21566 |

---

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;Footnote<sup>\*</sup> | &nbsp;&nbsp;Net Return (NR) - Reflects no deductions for fees, expenses or taxes (except foreign withholding taxes). |

---

The line graph represents historical performance of a hypothetical investment of $10,000 in the Fund during the last 10 years. Returns shown are total returns, which assume the reinvestment of dividends and capital gains. The table and graph presented above do not reflect the deduction of taxes a shareholder would pay on Fund distributions or the redemption of Fund Shares. Past performance is not indicative of future performance.Call 1-866-947-7000 or visit https://www.causewaycap.com/fund/emerging-markets-fund/ for current month-end performance.

## Average Annual Total Returns as of September 30, 2025

---

| | | | |
|:---|:---|:---|:---|
| <u>Fund/Index Name</u> | <u>1 Year</u> | <u>5 Years</u> | <u>10 Years</u> |
| Causeway Emerging Markets Fund, Investor Class | 20.38% | 9.15% | 7.89% |
| MSCI Emerging Markets Index (USD) (NR)<sup>Footnote Reference\*</sup> | 17.32% | 7.02% | 7.99% |

---

## Key Fund Statistics as of September 30, 2025

---

| | | | |
|:---|:---|:---|:---|
| <u>Total Net Assets (000's)</u> | <u>Number of Holdings</u> | <u>Total Advisory Fees Paid (000's)</u> | <u>Portfolio Turnover Rate</u> |
| $2655690 | 180 | $21896 | 92% |

---

## What did the Fund invest in?

### Country/Asset Weightings<sup>Footnote Reference \*</sup>
![Holdings Chart](i461422a45ed786d14e385527.jpg)

---

| | |
|:---|:---|
| Value | Value.1 |
| Futures Contracts | 0.0% |
| Other Countries | 5.1% |
| Peru | 0.8% |
| Indonesia | 0.8% |
| Turkey | 1.2% |
| United Arab Emirates | 1.5% |
| South Africa | 2.1% |
| Exchange-Traded Fund | 2.4% |
| Short-Term Investment | 3.3% |
| Brazil | 3.8% |
| India | 10.3% |
| South Korea | 14.3% |
| Taiwan | 19.6% |
| China | 34.3% |

---

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;Footnote<sup>\*</sup> | &nbsp;&nbsp;Percentages are calculated based on total net assets. |

---

### Top Ten Holdings

---

| | |
|:---|:---|
| <u>Holding Name</u> | <u>Percentage of Total Net Assets<sup>Footnote Reference(A)</sup></u> |
| Taiwan Semiconductor Manufacturing Co. Ltd. | 8.3% |
| Tencent Holdings Ltd. | 7.2% |
| Alibaba Group Holding Ltd. ADR | 2.9% |
| China Construction Bank Corp., Class H | 2.4% |
| Samsung Electronics Co. Ltd. | 2.2% |
| SK Hynix Inc. | 2.0% |
| Taiwan Semiconductor Manufacturing Co. Ltd. ADR | 1.7% |
| iShares MSCI India ETF | 1.6% |
| Citigroup Global Markets Holdings Inc. (Underlying Reference is a Basket Consisting of China A Shares and Hong Kong listed Shares) | 1.6% |
| Citigroup Global Markets Holdings Inc. (Underlying Reference is the MSCI China A Inclusion Net Return USD Index) | 1.6% |

---

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;Footnote<sup>(A)</sup> | &nbsp;&nbsp;Short-Term Investments are not shown in the top ten chart. |

---

## Material Fund Changes
There were no material changes during the reporting period.

## Changes in and Disagreements with Accountants
There were no changes in or disagreements with accountants during the reporting period.

## Additional Information
For additional information about the Fund, including its prospectus, financial information, holdings, and proxy voting information, call or visit:

* 1-866-947-7000 

* https://www.causewaycap.com/documents/#documents-emerging-markets-fund 

## Householding
Rule 30e-1 of the Investment Company Act of 1940 permits funds to transmit only one copy of a proxy statement, annual report or semi-annual report to shareholders (who need not be related) with the same residential, commercial or electronic address, provided that the shareholders have consented in writing and the reports are addressed either to each shareholder individually or to the shareholders as a group. This process is known as "householding" and is designed to reduce the duplicate copies of materials that shareholders receive and to lower printing and mailing costs for funds. Once implemented, if you would like to discontinue householding for your accounts, please call toll-free at 1-866-947-7000 to request individual copies of these documents. Once the Fund receives notice to stop householding, we will begin sending individual copies 30 days after receiving your request.

#### Causeway Capital Management Trust

#### Causeway Emerging Markets Fund / Investor Class - CEMVX
Annual Shareholder Report: September 30, 2025

CEMVX-AR-2025

![Image](ic69931201c07ccce6eab328a.jpg)**

(b) Not applicable

**Item 2.** **Code of Ethics.**

The registrant has adopted a code of ethics that applies to the registrant's principal executive officer, principal financial officer and principal accounting officer. During the fiscal year ended September 30, 2025, there were no material changes or waivers to the code of ethics.

**Item 3.** **Audit Committee Financial Expert.**

(a)(1) The registrant's board of trustees has determined that the registrant has at least one audit committee financial expert serving on the audit committee.

(a)(2) The audit committee financial experts are Eric Sussman, Lawry Meister, John Graham and Victoria B. Rogers. Each audit committee financial expert is "independent" as that term is defined in Form N-CSR Item 3(a)(2).

**Item 4.** **Principal Accountant Fees and Services.**

Aggregate fees billed to the registrant for professional services rendered by the registrant's principal accountant for the fiscal years ended September 30, 2025 and September 30, 2024 were as follows:

---

| | | | |
|:---|:---|:---|:---|
| | | **2025** | **2024** |
| (a) | Audit Fees<br>| $294030 | $294030 |
| (b) | Audit-Related Fees<br>|  |  |
| (c) | Tax Fees<sup>(1)</sup><br>| $59400 | $66400 |
| (d) | All Other Fees<br>|  |  |

---

Note:

<sup>(1)</sup> Tax fees include amounts related to tax return and excise tax calculation reviews and foreign tax reclaim services.

---

| | |
|:---|:---|
| (e)(1) | The registrant's audit committee has adopted a charter that requires it to pre-approve the engagement of auditors to (i) audit the registrant's financial statements, (ii) provide other audit or non-audit services to the registrant, or (iii) provide non-audit services to the registrant's investment adviser if the engagement relates directly to the operations and financial reporting of the registrant. |

---

(e)(2) No services included in paragraphs (b) through (d) of this Item were approved by the audit committee pursuant to paragraph (c)(7)(i)(C) of Rule 2-01 of Regulation S-X.

(f) Not applicable.

(g) For the fiscal year ended September 30, 2025, the aggregate non-audit fees billed by the registrant's
 accountant for services rendered to the registrant and the registrant's investment adviser were $597,674. For the fiscal year ended
 September 30, 2024, the aggregate non-audit fees billed by the registrant's accountant for services rendered to the registrant and
 the registrant's investment adviser were $849,249.

(h) The audit committee considered whether the provision of non-audit services rendered to the registrant's
 investment adviser by the registrant's principal accountant that were not pre-approved pursuant to paragraph (c)(7)(ii) of Rule
 2-01 of Regulation S-X was compatible with maintaining the principal accountant's independence.

(i) Not Applicable. The Registrant has not retained, for the preparation of the audit report on the financial
 statements included in the Form N-CSR, a registered public accounting firm that has a branch or office that is located in a foreign jurisdiction
 and that the Public Company Accounting Oversight Board (the "PCAOB") has determined that the PCAOB is unable to inspect or
 investigate completely because of a position taken by an authority in the foreign jurisdiction.

(j) Not Applicable. The Registrant is not a "foreign issuer," as defined in 17 CFR 240.3b-4.

**Item 5.** **Audit Committee of Listed Registrants.**

Not applicable to open-end management investment companies.

**Item 6.** **Schedules of Investments.**

(a) The Schedules of Investments are included as part of the Financial Statements and Other Information filed under Item 7 of this form.

(b) Not applicable.

**Item 7.** **Financial Statements and Financial Highlights for Open-End Investment Companies.**

Financial statements and financial highlights are filed herein.

**TABLE OF CONTENTS**

---

| | |
|:---|:---|
| Financial Statements (Form N-CSR Item 7) |  |
| &nbsp;&nbsp;&nbsp;Schedule of Investments | 2 |
| &nbsp;&nbsp;&nbsp;Statement of Assets and Liabilities | 15 |
| &nbsp;&nbsp;&nbsp;Statement of Operations | 16 |
| &nbsp;&nbsp;&nbsp;Statements of Changes in Net Assets | 17 |
| &nbsp;&nbsp;&nbsp;Financial Highlights | 18 |
| &nbsp;&nbsp;&nbsp;Notes to Financial Statements | 20 |
| Report of Independent Registered Public Accounting Firm | 30 |
| Notice to Shareholders (Unaudited) | 31 |
| Other Information (Form N-CSR Items 8-11) (Unaudited) | 32 |

---

SCHEDULE OF INVESTMENTS

**September 30, 2025**

---

| | | |
|:---|:---|:---|
| **Causeway Emerging Markets Fund** | **Number of Shares** | **Value (000)** |
| COMMON STOCK |  |  |
| **Brazil — 3.5%** |  |  |
| &nbsp;&nbsp;&nbsp;**Consumer Discretionary — 1.5%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;C&A MODAS S.A. | 2364500 | $7246 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Cury Construtora e Incorporadora S.A. | 652000 | 4235 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Cyrela Brazil Realty S.A. Empreendimentos e Participacoes | 1659400 | 9572 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Direcional Engenharia S.A. | 3181800 | 9685 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Vibra Energia S.A. | 1621000 | 7505 |
|  |  | **38243** |
| &nbsp;&nbsp;&nbsp;**Consumer Staples — 0.8%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;JBS SA <sup>1</sup> | 1328494 | 19797 |
| &nbsp;&nbsp;&nbsp;**Financials — 1.0%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pagseguro Digital Ltd., Class A | 1412253 | 14122 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;XP Inc., Class A | 736107 | 13831 |
|  |  | **27953** |
| &nbsp;&nbsp;&nbsp;**Materials — 0.2%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Gerdau S.A. ADR | 2073798 | 6429 |
|  |  | **6429** |
|  |  | **92422** |
| **Chile — 0.7%** |  |  |
| &nbsp;&nbsp;&nbsp;**Consumer Discretionary — 0.3%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Falabella S.A. | 1301570 | 7717 |
| &nbsp;&nbsp;&nbsp;**Industrials — 0.4%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Latam Airlines Group S.A. | 437309012 | 9938 |
|  |  | **17655** |
| **China — 31.1%** |  |  |
| &nbsp;&nbsp;&nbsp;**Communication Services — 10.4%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Hello Group Inc. ADR | 557948 | 4140 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;JOYY Inc. ADR | 124411 | 7292 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Kuaishou Technology, Class B | 1336200 | 14526 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;NetEase Inc. ADR | 219346 | 33338 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Tencent Holdings Ltd. | 2240789 | 190909 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Tencent Music Entertainment Group ADR | 799625 | 18663 |

---

*The accompanying notes are an integral part of the financial statements.*

---

| | |
|:---|:---|
| **2** | **Causeway** Emerging Markets Fund<br>|

---

SCHEDULE OF INVESTMENTS (continued)

**September 30, 2025**

---

| | | |
|:---|:---|:---|
| **Causeway Emerging Markets Fund** | **Number of Shares** | **Value (000)** |
| **China — (continued)** |  |  |
| &nbsp;&nbsp;&nbsp;**Communication Services (continued)** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Weibo Corp. ADR | 673403 | $8350 |
|  |  | **277218** |
| &nbsp;&nbsp;&nbsp;**Consumer Discretionary — 6.2%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Alibaba Group Holding Ltd. ADR | 428814 | 76642 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Atour Lifestyle Holdings Ltd. ADR | 245461 | 9227 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Geely Automobile Holdings Ltd. | 6247000 | 15694 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Guangdong Xinbao Electrical Appliances Holdings Co. Ltd., Class A | 1844115 | 4073 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Haier Smart Home Co. Ltd., Class A | 845800 | 2754 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;PDD Holdings Inc. ADR <sup>1</sup> | 166680 | 22030 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pop Mart International Group Ltd. | 797400 | 27338 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Vipshop Holdings Ltd. ADR | 350688 | 6888 |
|  |  | **164646** |
| &nbsp;&nbsp;&nbsp;**Consumer Staples — 0.7%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Guangdong Haid Group Co. Ltd., Class A | 1229371 | 11013 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;JD Health International Inc. <sup>1</sup> | 947400 | 8096 |
|  |  | **19109** |
| &nbsp;&nbsp;&nbsp;**Energy — 0.6%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;PetroChina Co. Ltd., Class H | 16728000 | 15219 |
| &nbsp;&nbsp;&nbsp;**Financials — 6.9%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;China Construction Bank Corp., Class H | 67324000 | 64712 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;China Galaxy Securities Co. Ltd., Class H | 6289500 | 9569 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;China International Capital Corp. Ltd., Class H | 1310800 | 3605 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;China Life Insurance Co. Ltd., Class H | 4902000 | 13921 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;China Pacific Insurance Group Co. Ltd., Class H | 3819200 | 15204 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;New China Life Insurance Co. Ltd., Class H | 2483400 | 14731 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;People's Insurance Company Group of China Ltd., Class H | 18864000 | 16508 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Ping An Insurance Group Co. of China Ltd., Class H | 4837500 | 32978 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Qifu Technology Inc. ADR | 422062 | 12147 |
|  |  | **183375** |
| &nbsp;&nbsp;&nbsp;**Health Care — 2.0%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3SBio Inc. <sup>1</sup> | 6350000 | 24480 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;BeiGene Ltd. <sup>1</sup> | 444524 | 11721 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;China Resources Pharmaceutical Group Ltd. | 7186500 | 4442 |

---

*The accompanying notes are an integral part of the financial statements.*

**Causeway** Emerging Markets Fund<sub>3</sub>

SCHEDULE OF INVESTMENTS (continued)

**September 30, 2025**

---

| | | |
|:---|:---|:---|
| **Causeway Emerging Markets Fund** | **Number of Shares** | **Value (000)** |
| **China — (continued)** |  |  |
| &nbsp;&nbsp;&nbsp;**Health Care (continued)** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;WuXi AppTec Co. Ltd., Class H | 640200 | $9765 |
|  |  | **50408** |
| &nbsp;&nbsp;&nbsp;**Industrials — 1.8%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;China Railway Group Ltd., Class H | 16572000 | 8369 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;CITIC Ltd. | 8370000 | 12283 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;COSCO SHIPPING Holdings Co. Ltd., Class H | 11009900 | 17133 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Yutong Bus Co. Ltd., Class A | 2750300 | 10513 |
|  |  | **48298** |
| &nbsp;&nbsp;&nbsp;**Information Technology — 0.9%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Hengtong Optic-electric Co. Ltd., Class A | 1765360 | 5696 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Lenovo Group Ltd. | 7278000 | 10802 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Xiaomi Corp., Class B <sup>1</sup> | 1244400 | 8635 |
|  |  | **25133** |
| &nbsp;&nbsp;&nbsp;**Materials — 1.6%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;China Hongqiao Group Ltd. | 6447000 | 21888 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;China Lumena New Materials Corp. <sup>1,2</sup> | 264100 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Yunnan Yuntianhua Co. Ltd., Class A | 1575600 | 5932 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Zhejiang NHU Co. Ltd., Class A | 4608062 | 15426 |
|  |  | **43246** |
|  |  | **826652** |
| **Greece — 0.4%** |  |  |
| &nbsp;&nbsp;&nbsp;**Financials — 0.4%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Eurobank Ergasias Services and Holdings S.A. | 2758820 | 10630 |
| **India — 10.3%** |  |  |
| &nbsp;&nbsp;&nbsp;**Communication Services — 0.8%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Bharti Airtel Ltd. | 848255 | 17946 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Indus Towers Ltd. <sup>1</sup> | 768657 | 2969 |
|  |  | **20915** |
| &nbsp;&nbsp;&nbsp;**Consumer Discretionary — 0.9%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Eicher Motors Ltd. | 99348 | 7839 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Mahindra & Mahindra Ltd. | 388011 | 14976 |
|  |  | **22815** |
| &nbsp;&nbsp;&nbsp;**Energy — 0.7%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Bharat Petroleum Corp. Ltd. | 2982339 | 11409 |

---

*The accompanying notes are an integral part of the financial statements.*

---

| | |
|:---|:---|
| **4** | **Causeway** Emerging Markets Fund<br>|

---

SCHEDULE OF INVESTMENTS (continued)

**September 30, 2025**

---

| | | |
|:---|:---|:---|
| **Causeway Emerging Markets Fund** | **Number of Shares** | **Value (000)** |
| **India — (continued)** |  |  |
| &nbsp;&nbsp;&nbsp;**Energy (continued)** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Reliance Industries Ltd. | 525383 | $8071 |
|  |  | **19480** |
| &nbsp;&nbsp;&nbsp;**Financials — 3.3%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Bank of India | 3890614 | 5408 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;BSE Ltd. | 250796 | 5763 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Canara Bank | 9625547 | 13411 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;HDFC Asset Management Co. Ltd. | 175002 | 10904 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;L&T Finance Holdings Ltd. | 1730413 | 4858 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;LIC Housing Finance Ltd. | 1136067 | 7229 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Muthoot Finance Ltd. | 336601 | 11665 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;PNB Housing Finance Ltd. | 73994 | 720 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;REC Ltd. | 4956378 | 20813 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;South Indian Bank Ltd. | 16709388 | 5448 |
|  |  | **86219** |
| &nbsp;&nbsp;&nbsp;**Health Care — 1.4%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Dr Lal PathLabs Ltd. | 168182 | 5906 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Fortis Healthcare Ltd. | 876514 | 9574 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Global Health Ltd. | 408360 | 6043 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Jubilant Pharmova Ltd., Class A | 116611 | 1418 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Lupin Ltd. | 221755 | 4773 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Narayana Hrudayalaya Ltd. | 264615 | 5179 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Yatharth Hospital & Trauma Care Services Ltd. <sup>1</sup> | 482530 | 4028 |
|  |  | **36921** |
| &nbsp;&nbsp;&nbsp;**Industrials — 0.8%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Adani Ports & Special Economic Zone Ltd. | 1065601 | 16844 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Polycab India Ltd. | 75560 | 6200 |
|  |  | **23044** |
| &nbsp;&nbsp;&nbsp;**Materials — 2.4%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Chambal Fertilisers and Chemicals Ltd. | 1009298 | 5806 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Hindalco Industries Ltd. | 1408378 | 12086 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;JK Cement Ltd. | 81145 | 5758 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;National Aluminium Co. Ltd. | 2737193 | 6593 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;NMDC Ltd. | 9442580 | 8120 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Paradeep Phosphates Ltd. | 3103129 | 6851 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Rallis India Ltd. | 1483724 | 5094 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Steel Authority of India Ltd. | 5042684 | 7638 |

---

 

*The accompanying notes are an integral part of the financial statements.*

**Causeway** Emerging Markets Fund<sub>5</sub>

SCHEDULE OF INVESTMENTS (continued)

**September 30, 2025**

---

| | | |
|:---|:---|:---|
| **Causeway Emerging Markets Fund** | **Number of Shares** | **Value (000)** |
| **India — (continued)** |  |  |
| &nbsp;&nbsp;&nbsp;**Materials (continued)** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Welspun Corp. Ltd. | 579032 | $5591 |
|  |  | **63537** |
| &nbsp;&nbsp;&nbsp;**Utilities — 0.0%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Mahanagar Gas Ltd. | 64576 | 942 |
|  |  | **273873** |
| **Indonesia — 0.8%** |  |  |
| &nbsp;&nbsp;&nbsp;**Consumer Staples — 0.2%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Indofood Sukses Makmur Tbk PT | 10375800 | 4499 |
| &nbsp;&nbsp;&nbsp;**Industrials — 0.4%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Astra International Tbk PT | 30424500 | 10543 |
| &nbsp;&nbsp;&nbsp;**Materials — 0.1%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Aneka Tambang Tbk PT | 14072000 | 2668 |
| &nbsp;&nbsp;&nbsp;**Utilities — 0.1%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Perusahaan Gas Negara Tbk PT | 41129700 | 4171 |
|  |  | **21881** |
| **Kuwait — 0.2%** |  |  |
| &nbsp;&nbsp;&nbsp;**Communication Services — 0.2%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Mobile Telecommunications Co. KSCP | 3690453 | 6221 |
| **Malaysia — 0.4%** |  |  |
| &nbsp;&nbsp;&nbsp;**Industrials — 0.4%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;My EG Services BHD | 29290600 | 5916 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Sime Darby BHD | 8297700 | 4495 |
|  |  | **10411** |
| **Mexico — 0.7%** |  |  |
| &nbsp;&nbsp;&nbsp;**Consumer Discretionary — 0.1%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Alsea SAB de CV | 568900 | 1891 |
| &nbsp;&nbsp;&nbsp;**Financials — 0.3%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Gentera SAB de CV | 2767800 | 7204 |

---

*The accompanying notes are an integral part of the financial statements.*

---

| | |
|:---|:---|
| **6** | **Causeway** Emerging Markets Fund<br>|

---

SCHEDULE OF INVESTMENTS (continued)

**September 30, 2025**

---

| | | |
|:---|:---|:---|
| **Causeway Emerging Markets Fund** | **Number of Shares** | **Value (000)** |
| **Mexico — (continued)** |  |  |
| &nbsp;&nbsp;&nbsp;**Real Estate — 0.3%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Fibra Uno Administracion SA de CV <sup>3</sup> | 6641500 | $9850 |
|  |  | **18945** |
| **Peru — 0.8%** |  |  |
| &nbsp;&nbsp;&nbsp;**Financials — 0.8%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Credicorp Ltd. | 78454 | 20891 |
| **Poland — 0.7%** |  |  |
| &nbsp;&nbsp;&nbsp;**Financials — 0.5%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Powszechny Zaklad Ubezpieczen SA | 965139 | 14435 |
| &nbsp;&nbsp;&nbsp;**Utilities — 0.2%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;PGE Polska Grupa Energetyczna SA <sup>1</sup> | 1297722 | 3834 |
|  |  | **18269** |
| **Russia — 0.0%** |  |  |
| &nbsp;&nbsp;&nbsp;**Energy — 0.0%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;LUKOIL PJSC <sup>1,2</sup> | 172525 |  |
| &nbsp;&nbsp;&nbsp;**Financials — 0.0%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Sberbank of Russia PJSC ADR <sup>1,2</sup> | 790503 |  |
|  |  | **—** |
| **Saudi Arabia — 0.7%** |  |  |
| &nbsp;&nbsp;&nbsp;**Consumer Discretionary — 0.1%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;United Electronics Co. | 90529 | 2164 |
| &nbsp;&nbsp;&nbsp;**Financials — 0.6%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Saudi National Bank | 1502120 | 15693 |
|  |  | **17857** |
| **Singapore — 0.6%** |  |  |
| &nbsp;&nbsp;&nbsp;**Consumer Discretionary — 0.6%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Sea Ltd. ADR <sup>1</sup> | 93985 | 16798 |

---

*The accompanying notes are an integral part of the financial statements.*

**Causeway** Emerging Markets Fund<sub>7</sub>

SCHEDULE OF INVESTMENTS (continued)

**September 30, 2025**

---

| | | |
|:---|:---|:---|
| **Causeway Emerging Markets Fund** | **Number of Shares** | **Value (000)** |
| **South Africa — 2.1%** |  |  |
| &nbsp;&nbsp;&nbsp;**Communication Services — 0.5%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;MTN Group Ltd. | 1704546 | $14311 |
| &nbsp;&nbsp;&nbsp;**Materials — 1.3%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Anglogold Ashanti PLC | 82665 | 5809 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Gold Fields Ltd. ADR | 649189 | 27240 |
|  |  | **33049** |
| &nbsp;&nbsp;&nbsp;**Real Estate — 0.3%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Growthpoint Properties Ltd. <sup>3</sup> | 9215113 | 7860 |
|  |  | **55220** |
| **South Korea — 14.3%** |  |  |
| &nbsp;&nbsp;&nbsp;**Communication Services — 0.6%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;KT Corp. | 249670 | 8986 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;LG Uplus Corp. | 685461 | 7499 |
|  |  | **16485** |
| &nbsp;&nbsp;&nbsp;**Consumer Discretionary — 1.7%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Hankook Tire & Technology Co. Ltd. | 217096 | 5934 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Hyundai Mobis Co. Ltd. | 77844 | 16561 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Hyundai Motor Co. | 29130 | 4464 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Kangwon Land Inc. | 403990 | 5286 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Kia Corp. | 110388 | 7923 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Youngone Corp. | 101598 | 4700 |
|  |  | **44868** |
| &nbsp;&nbsp;&nbsp;**Consumer Staples — 0.3%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;KT&G Corp. | 80562 | 7671 |
| &nbsp;&nbsp;&nbsp;**Financials — 3.0%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;DB Insurance Co. Ltd. | 111392 | 10996 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Hana Financial Group Inc. | 276912 | 17210 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;KIWOOM Securities Co. Ltd. | 41027 | 7164 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Korea Investment Holdings Co. Ltd. | 110942 | 11466 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Samsung Securities Co. Ltd. | 164886 | 8426 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Shinhan Financial Group Co. Ltd. | 193633 | 9771 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Woori Financial Group Inc. | 856942 | 15850 |
|  |  | **80883** |

---

 

*The accompanying notes are an integral part of the financial statements.*

---

| | |
|:---|:---|
| **8** | **Causeway** Emerging Markets Fund<br>|

---

SCHEDULE OF INVESTMENTS (continued)

**September 30, 2025**

---

| | | |
|:---|:---|:---|
| **Causeway Emerging Markets Fund** | **Number of Shares** | **Value (000)** |
| **South Korea — (continued)** |  |  |
| &nbsp;&nbsp;&nbsp;**Health Care — 0.6%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;PharmaResearch Co. Ltd. | 34633 | $14835 |
| &nbsp;&nbsp;&nbsp;**Industrials — 3.3%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Doosan Co. Ltd. | 15873 | 6121 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;GS Holdings Corp. | 129137 | 4229 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Hanwha Corp. | 178039 | 10735 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;HD Korea Shipbuilding & Offshore Engineering Co. Ltd. | 51773 | 15166 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Hyundai Glovis Co. Ltd. | 83936 | 9895 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Hyundai Rotem Co. Ltd. | 120140 | 18752 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Korean Air Lines Co. Ltd. | 371243 | 6020 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;LG Corp. | 111665 | 5730 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;LX INTERNATIONAL CORP. | 194523 | 4430 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Samsung Engineering Co. Ltd. | 204678 | 3910 |
|  |  | **84988** |
| &nbsp;&nbsp;&nbsp;**Information Technology — 4.4%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;DB HiTek Co. Ltd. | 138218 | 5595 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Samsung Electronics Co. Ltd. | 996287 | 59576 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;SK Hynix Inc. | 214143 | 53038 |
|  |  | **118209** |
| &nbsp;&nbsp;&nbsp;**Utilities — 0.4%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Korea Electric Power Corp. | 433491 | 11138 |
|  |  | **379077** |
| **Taiwan — 19.6%** |  |  |
| &nbsp;&nbsp;&nbsp;**Consumer Discretionary — 0.2%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pou Chen Corp. | 5577000 | 5279 |
| &nbsp;&nbsp;&nbsp;**Industrials — 1.0%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Eva Airways Corp. | 9618000 | 12023 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Evergreen Marine Corp. Taiwan Ltd. | 2220000 | 13038 |
|  |  | **25061** |
| &nbsp;&nbsp;&nbsp;**Information Technology — 18.4%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Accton Technology Corp. | 720000 | 24687 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;ADATA Technology Co. Ltd. | 1762000 | 9077 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Arcadyan Technology Corp. | 1040000 | 7490 |

---

*The accompanying notes are an integral part of the financial statements.*

**Causeway** Emerging Markets Fund<sub>9</sub>

SCHEDULE OF INVESTMENTS (continued)

**September 30, 2025**

---

| | | |
|:---|:---|:---|
| **Causeway Emerging Markets Fund** | **Number of Shares** | **Value (000)** |
| **Taiwan — (continued)** |  |  |
| &nbsp;&nbsp;&nbsp;**Information Technology (continued)** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Asia Vital Components Co. Ltd. | 436019 | $14034 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Delta Electronics Inc. | 983000 | 27544 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Elite Material Co. Ltd. | 453000 | 18207 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Gigabyte Technology Co. Ltd. | 1297000 | 12724 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Gold Circuit Electronics Ltd. | 1110000 | 15861 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Hon Hai Precision Industry Co. Ltd. | 5326298 | 37748 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;MPI Corp. | 108000 | 6077 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Quanta Computer Inc. | 777000 | 7393 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Taiwan Semiconductor Manufacturing Co. Ltd. | 5163000 | 221068 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Taiwan Semiconductor Manufacturing Co. Ltd. ADR | 164643 | 45983 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Taiwan Surface Mounting Technology Co. Ltd. | 1487000 | 5099 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Wistron Corp. | 4150000 | 19131 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Wiwynn Corp. | 174000 | 18926 |
|  |  | **491049** |
|  |  | **521389** |
| **Thailand — 0.5%** |  |  |
| &nbsp;&nbsp;&nbsp;**Consumer Discretionary — 0.3%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Com7, Class F | 8559300 | 6802 |
| &nbsp;&nbsp;&nbsp;**Consumer Staples — 0.2%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Charoen Pokphand Foods PCL | 8796000 | 6053 |
|  |  | **12855** |
| **Turkey — 1.2%** |  |  |
| &nbsp;&nbsp;&nbsp;**Consumer Staples — 0.2%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Ulker Biskuvi Sanayi AS | 2387062 | 6000 |
| &nbsp;&nbsp;&nbsp;**Industrials — 0.6%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;AG Anadolu Grubu Holding AS | 9183812 | 5712 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Turk Hava Yollari AO | 1373568 | 10406 |
|  |  | **16118** |
| &nbsp;&nbsp;&nbsp;**Real Estate — 0.4%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Emlak Konut Gayrimenkul Yatirim Ortakligi AS, Class REIT <sup>3</sup> | 21153811 | 10110 |
|  |  | **32228** |

---

*The accompanying notes are an integral part of the financial statements.*

---

| | |
|:---|:---|
| **10** | **Causeway** Emerging Markets Fund<br>|

---

SCHEDULE OF INVESTMENTS (continued)

**September 30, 2025**

---

| | | |
|:---|:---|:---|
| **Causeway Emerging Markets Fund** | **Number of Shares** | **Value (000)** |
| **United Arab Emirates — 1.5%** |  |  |
| &nbsp;&nbsp;&nbsp;**Communication Services — 0.4%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Emirates Telecommunications Group Co. PJSC | 1918008 | $9838 |
| &nbsp;&nbsp;&nbsp;**Real Estate — 1.1%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Aldar Properties PJSC | 4091118 | 10559 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Emaar Properties PJSC | 5455976 | 19385 |
|  |  | **29944** |
|  |  | **39782** |
| **United States — 0.2%** |  |  |
| &nbsp;&nbsp;&nbsp;**Information Technology — 0.2%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Cognizant Technology Solutions Corp., Class A | 74871 | 5022 |
| **Total Common Stock** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(Cost $1,788,972) — 90.3%** |  | **2398078** |
|  | **Face Amount** |  |
| EQUITY-LINKED NOTES |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Citigroup Global Markets Holdings Inc. (Underlying Reference is a Basket Consisting of China A Shares and Hong Kong listed Shares) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10/16/2025<sup>1,4,5</sup> | $40869901 | **43175** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Citigroup Global Markets Holdings Inc. (Underlying Reference is the MSCI China A Inclusion Net Return USD Index) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10/1/2026<sup>1,4,5</sup> | 42138000 | **42884** |
| **Total Equity-Linked Notes** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(Cost $83,008) — 3.2%** |  | **86059** |
|  | **Number of Shares** |  |
| EXCHANGE-TRADED FUNDS |  |  |
| **International Equity — 2.4%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;iShares China Large-Cap ETF | 71000 | 2921 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;iShares MSCI India ETF | 835000 | 43470 |

---

*The accompanying notes are an integral part of the financial statements.*

**Causeway** Emerging Markets Fund<sub>11</sub>

SCHEDULE OF INVESTMENTS (continued)

**September 30, 2025**

---

| | | |
|:---|:---|:---|
| **Causeway Emerging Markets Fund** | **Number of Shares** | **Value (000)** |
| **International Equity — (continued)** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;iShares MSCI South Korea ETF | 208808 | $16725 |
| **Total Exchange-Traded Funds** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(Cost $63,363) — 2.4%** |  | **63116** |
| PREFERRED STOCK |  |  |
| **Brazil — 0.3%** |  |  |
| &nbsp;&nbsp;&nbsp;**Financials — 0.3%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Banco Bradesco S.A. <sup>1</sup> | 2742400 | 9131 |
| **Total Preferred Stock** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(Cost $8,111) — 0.3%** |  | **9131** |
| SHORT-TERM INVESTMENT |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Invesco Short-Term Investment Trust: Government & Agency Portfolio, Institutional Class, 4.05% \* | 86897798 | 86898 |
| **Total Short-Term Investment** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(Cost $86,898) — 3.3%** |  | **86898** |
| **Total Investments — 99.5%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(Cost $2,030,352)** |  | **2643282** |
| **Other Assets in Excess of Liabilities — 0.5%** |  | **12408** |
| **Net Assets — 100.0%** |  | $**2655690** |

---

 

*The accompanying notes are an integral part of the financial statements.*

---

| | |
|:---|:---|
| **12** | **Causeway** Emerging Markets Fund<br>|

---

SCHEDULE OF INVESTMENTS (continued)

**September 30, 2025**

A list of the open futures contracts held by the Fund at September 30, 2025, is as follows:

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Type of Contract** | **Number of<br> Contracts** | **Expiration<br> Date** | **Notional<br> Amount** | **Value** | **Unrealized<br> Appreciation/<br> (Depreciation)** |
| Long Contracts |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; MSCI Emerging Markets | 1160 | 12/22/2025 | $77775 | $78863 | $1088 |

---

<sup>\*</sup> The rate reported is the 7-day effective yield as of September 30, 2025.

1 Non-income producing security.

2 Security is valued using significant unobservable inputs and is classified as Level 3 in the fair value hierarchy.

3 Real Estate Investment Trust.

---

| | |
|:---|:---|
| 4 | Security exempt from registration under Rule 144A of the Securities Act of 1933. These securities may be resold in transactions exempt from registration normally to qualified institutions. On 9/30/2025, the value of these securities amounted to $86,059 (000) representing 3.2% of the Net Assets. |

---

5 Equity linked note or certificate issued by Citigroup Global Markets Holdings Inc. providing exposure to the price movements of the underlying referenced(s) noted, plus an outperformance rate of return that is fixed at the time of issuance.

ADR American Depositary Receipt <br> ETF Exchange-Traded Fund <br> PJSC Public Joint-Stock Company

The table below sets forth information about the Levels within the fair value hierarchy at which the Fund's investments and other financial instruments are measured at September 30, 2025:

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **Level 1** | **Level 2** | **Level 3** |  | **Total** |
| **Investments in Securities** | **(000)** | **(000)** | **(000)<sup>†</sup>** |  | **(000)** |
| Common Stock |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Brazil | $92422 | $— | $— |  | $92422 |
| &nbsp;&nbsp;&nbsp;Chile | 17655 |  |  |  | 17655 |
| &nbsp;&nbsp;&nbsp;China | 826652 |  |  | ^ | 826652 |
| &nbsp;&nbsp;&nbsp;Greece | 10630 |  |  |  | 10630 |
| &nbsp;&nbsp;&nbsp;India | 273873 |  |  |  | 273873 |
| &nbsp;&nbsp;&nbsp;Indonesia | 21881 |  |  |  | 21881 |
| &nbsp;&nbsp;&nbsp;Kuwait | 6221 |  |  |  | 6221 |
| &nbsp;&nbsp;&nbsp;Malaysia | 10411 |  |  |  | 10411 |
| &nbsp;&nbsp;&nbsp;Mexico | 18945 |  |  |  | 18945 |
| &nbsp;&nbsp;&nbsp;Peru | 20891 |  |  |  | 20891 |
| &nbsp;&nbsp;&nbsp;Poland | 18269 |  |  |  | 18269 |

---

 

*The accompanying notes are an integral part of the financial statements.*

**Causeway** Emerging Markets Fund<sub>13</sub>

SCHEDULE OF INVESTMENTS (continued)

**September 30, 2025**

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **Level 1** | **Level 2** | **Level 3** |  | **Total** |
| **Investments in Securities** | **(000)** | **(000)** | **(000)<sup>†</sup>** |  | **(000)** |
| &nbsp;&nbsp;&nbsp;Russia | $— | $— | $— | ^ | $— |
| &nbsp;&nbsp;&nbsp;Saudi Arabia | 17857 |  |  |  | 17857 |
| &nbsp;&nbsp;&nbsp;Singapore | 16798 |  |  |  | 16798 |
| &nbsp;&nbsp;&nbsp;South Africa | 55220 |  |  |  | 55220 |
| &nbsp;&nbsp;&nbsp;South Korea | 379077 |  |  |  | 379077 |
| &nbsp;&nbsp;&nbsp;Taiwan | 521389 |  |  |  | 521389 |
| &nbsp;&nbsp;&nbsp;Thailand |  | 12855 |  |  | 12855 |
| &nbsp;&nbsp;&nbsp;Turkey | 32228 |  |  |  | 32228 |
| &nbsp;&nbsp;&nbsp;United Arab Emirates | 39782 |  |  |  | 39782 |
| &nbsp;&nbsp;&nbsp;United States | 5022 |  |  |  | 5022 |
| Total Common Stock | 2385223 | 12855 |  |  | 2398078 |
| Equity-Linked Notes |  | 86059 |  |  | 86059 |
| Exchange-Traded Funds | 63116 |  |  |  | 63116 |
| Preferred Stock |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Brazil | 9131 |  |  |  | 9131 |
| Total Preferred Stock | 9131 |  |  |  | 9131 |
| Short-Term Investment | 86898 |  |  |  | 86898 |
| Total Investments in Securities | $2544368 | $98914 | $— |  | $2643282 |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Other Financial Instruments** | **Level 1** | **Level 2** | **Level 3** | **Total** |
| Futures Contracts\* |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Unrealized Appreciation | $1088 | $— | $— | $1088 |
| Total Other Financial Instruments | $1088 | $— | $— | $1088 |

---

&nbsp;&nbsp;&nbsp;&nbsp;† 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 end of the period in relation to net assets. Management has concluded that Level 3 investments are not material in
 relation to net assets.

^ Security is fair valued at zero. Security is valued using significant unobservable inputs and is classified as Level 3 in the fair value hierarchy. <br>

\* Futures contracts are valued at the unrealized appreciation on the instrument.

Amounts designated as "—" are $0 or are rounded to $0.

For more information on valuation inputs, see Note 2 in Notes to Financial Statements.

*The accompanying notes are an integral part of the financial statements.*

---

| | |
|:---|:---|
| **14** | **Causeway** Emerging Markets Fund<br>|

---

STATEMENT OF ASSETS AND LIABILITIES (000)\*

---

| | |
|:---|:---|
|  | **CAUSEWAY EMERGING<br> MARKETS FUND**<br>9/30/25 |
| **ASSETS:** |  |
| &nbsp;&nbsp;&nbsp;Investments at Value (Cost $2,030,352) | $2643282 |
| &nbsp;&nbsp;&nbsp;Cash pledged as collateral for futures contracts | 4538 |
| &nbsp;&nbsp;&nbsp;Foreign Currency (Cost $13,512) | 13509 |
| &nbsp;&nbsp;&nbsp;Receivable for Investment Securities Sold | 31833 |
| &nbsp;&nbsp;&nbsp;Receivable for Fund Shares Sold | 7258 |
| &nbsp;&nbsp;&nbsp;Receivable for Dividends | 5742 |
| &nbsp;&nbsp;&nbsp;Receivable for Tax Reclaims | 815 |
| &nbsp;&nbsp;&nbsp;Variation Margin Receivable | 259 |
| &nbsp;&nbsp;&nbsp;Prepaid Expenses | 31 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Total Assets** | **2707267** |
| **LIABILITIES:** |  |
| &nbsp;&nbsp;&nbsp;Payable for Investment Securities Purchased | 30045 |
| &nbsp;&nbsp;&nbsp;Payable to Custodian | 11049 |
| &nbsp;&nbsp;&nbsp;Payable for Fund Shares Redeemed | 4377 |
| &nbsp;&nbsp;&nbsp;Accrued Foreign Capital Gains Tax on Appreciated Securities | 3492 |
| &nbsp;&nbsp;&nbsp;Payable Due to Adviser | 2311 |
| &nbsp;&nbsp;&nbsp;Payable for Shareholder Service Fees - Investor Class | 186 |
| &nbsp;&nbsp;&nbsp;Payable Due to Administrator | 39 |
| &nbsp;&nbsp;&nbsp;Payable for Trustees' Fees | 19 |
| &nbsp;&nbsp;&nbsp;Unrealized Depreciation on Spot Foreign Currency Contracts | 12 |
| &nbsp;&nbsp;&nbsp;Other Accrued Expenses | 47 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Total Liabilities** | **51577** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Net Assets** | $**2655690** |
| **NET ASSETS:** |  |
| &nbsp;&nbsp;&nbsp;Paid-in Capital (unlimited authorization — no par value) | $2043619 |
| &nbsp;&nbsp;&nbsp;Total Distributable Earnings | 612071 |
| &nbsp;&nbsp;&nbsp;**Net Assets** | $**2655690** |
| **Net Asset Value Per Share (based on net assets of <br> $2,063,267,342 ÷ 147,899,647 shares) - Institutional Class** | $**13.95** |
| **Net Asset Value Per Share (based on net assets of <br> $592,423,096 ÷ 41,845,911 shares) - Investor Class** | $**14.16** |

---

\* Except for Net Asset Value Per Share data.

*The accompanying notes are an integral part of the financial statements.*

---

| | |
|:---|:---|
| **Causeway** Emerging Markets Fund | **15** |

---

STATEMENT OF OPERATIONS (000)

---

| | |
|:---|:---|
|  | **CAUSEWAY EMERGING<br> MARKETS FUND**<br>10/01/24 to 9/30/25 |
| **INVESTMENT INCOME:** |  |
| &nbsp;&nbsp;&nbsp;Dividend Income (net of foreign taxes withheld of $10,847) | $66038 |
| &nbsp;&nbsp;&nbsp;**Total Investment Income** | **66038** |
| **EXPENSES:** |  |
| &nbsp;&nbsp;&nbsp;Investment Advisory Fees | 21896 |
| &nbsp;&nbsp;&nbsp;Shareholder Service Fees — Investor Class | 1188 |
| &nbsp;&nbsp;&nbsp;Administration Fees | 401 |
| &nbsp;&nbsp;&nbsp;Custodian Fees | 1095 |
| &nbsp;&nbsp;&nbsp;Transfer Agent Fees | 170 |
| &nbsp;&nbsp;&nbsp;Printing Fees | 154 |
| &nbsp;&nbsp;&nbsp;Registration Fees | 100 |
| &nbsp;&nbsp;&nbsp;Trustees' Fees | 78 |
| &nbsp;&nbsp;&nbsp;Professional Fees | 23 |
| &nbsp;&nbsp;&nbsp;**Total Expenses** | **25105** |
| &nbsp;&nbsp;&nbsp;**Net Expenses** | **25105** |
| &nbsp;&nbsp;&nbsp;**Net Investment Income** | **40933** |
| **Net Realized Gain (Loss) on:** |  |
| &nbsp;&nbsp;&nbsp;Investments | 76523 |
| &nbsp;&nbsp;&nbsp;Futures Contracts | 12099 |
| &nbsp;&nbsp;&nbsp;Foreign Capital Gains Tax | (5192) |
| &nbsp;&nbsp;&nbsp;Foreign Currency Transactions | (2609) |
| &nbsp;&nbsp;&nbsp;**Net Realized Gain (Loss)** | **80821** |
| **Net Unrealized Appreciation (Depreciation) on:** |  |
| &nbsp;&nbsp;&nbsp;Investments | 302494 |
| &nbsp;&nbsp;&nbsp;Futures Contracts | (1368) |
| &nbsp;&nbsp;&nbsp;Accrued Foreign Capital Gains Tax on Appreciated Securities | 18923 |
| &nbsp;&nbsp;&nbsp;Foreign Currency and Translation of Other Assets and Liabilities Denominated in Foreign Currency | 197 |
| &nbsp;&nbsp;&nbsp;**Net Unrealized Appreciation (Depreciation)** | **320246** |
| &nbsp;&nbsp;&nbsp;**Net Realized and Unrealized Gain** | **401067** |
| **Net Increase in Net Assets Resulting from Operations** | $**442000** |

---

*The accompanying notes are an integral part of the financial statements.*

---

| | |
|:---|:---|
| **16** | **Causeway** Emerging Markets Fund<br>|

---

STATEMENTS OF CHANGES IN NET ASSETS (000)

---

| | | |
|:---|:---|:---|
|  | **CAUSEWAY EMERGING<br> MARKETS FUND** | **CAUSEWAY EMERGING<br> MARKETS FUND** |
|  | **10/01/24 to**<br>**9/30/25** | **10/01/23 to**<br>**9/30/24** |
| **OPERATIONS:** |  |  |
| &nbsp;&nbsp;&nbsp;Net Investment Income | $40933 | $41144 |
| &nbsp;&nbsp;&nbsp;Net Realized Gain | 80821 | 44733 |
| &nbsp;&nbsp;&nbsp;Net Change in Unrealized Appreciation (Depreciation) | 320246 | 320518 |
| &nbsp;&nbsp;&nbsp;**Net Increase in Net Assets Resulting From Operations** | **442000** | **406395** |
| **DISTRIBUTIONS:** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Institutional Class | (58599) | (43224) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Investor Class | (15343) | (12029) |
| &nbsp;&nbsp;&nbsp;**Total Distributions to Shareholders** | **(73942)** | **(55253)** |
| &nbsp;&nbsp;&nbsp;**Net Increase in Net Assets Derived from Capital Share Transactions<sup>(1)</sup>** | **115789** | **603991** |
| &nbsp;&nbsp;&nbsp;**Total Increase in Net Assets** | **483847** | **955133** |
| **NET ASSETS:** |  |  |
| &nbsp;&nbsp;&nbsp;Beginning of Year | 2171843 | 1216710 |
| &nbsp;&nbsp;&nbsp;**End of Year** | $**2655690** | $**2171843** |

---

&nbsp;&nbsp;&nbsp;&nbsp;(1) See Note 7 in Notes
 to Financial Statements.

*The accompanying notes are an integral part of the financial statements.*

---

| | |
|:---|:---|
| **Causeway** Emerging Markets Fund | **17** |

---

FINANCIAL HIGHLIGHTS

**For the Fiscal Years Ended September 30, For a Share Outstanding Throughout the Fiscal Years**

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| | Net Asset<br> Value,<br> Beginning<br> of<br> Year ($) | Net<br> Investment<br> Income ($)† | Net Realized<br> and<br> Unrealized<br> Gain (Loss) ($) | Total<br> from<br> Operations<br> ($) | Dividends<br> from Net<br> Investment<br> Income ($) | Distributions<br> from<br> Capital<br> Gains ($) | Total<br> Dividends<br> and<br> Distributions ($) |
| **Causeway Emerging Markets Fund** | **Causeway Emerging Markets Fund** | **Causeway Emerging Markets Fund** |  |  |  |  |  |
| **Institutional** |  |  |  |  |  |  |  |
| 2025 | 12.00 | 0.23 | 2.13 | 2.36 | (0.41) |  | (0.41) |
| 2024 | 9.62 | 0.29 | 2.57 | 2.86 | (0.48) |  | (0.48) |
| 2023 | 8.60 | 0.30 | 1.15 | 1.45 | (0.43) |  | (0.43) |
| 2022 | 14.87 | 0.34 | (3.81) | (3.47) | (0.40) | (2.40) | (2.80) |
| 2021 | 12.77 | 0.22 | 2.09 | 2.31 | (0.21) |  | (0.21) |
| **Investor** |  |  |  |  |  |  |  |
| 2025 | 12.17 | 0.20 | 2.17 | 2.37 | (0.38) |  | (0.38) |
| 2024 | 9.76 | 0.27 | 2.59 | 2.86 | (0.45) |  | (0.45) |
| 2023 | 8.69 | 0.29 | 1.17 | 1.46 | (0.39) |  | (0.39) |
| 2022 | 14.99 | 0.29 | (3.84) | (3.55) | (0.35) | (2.40) | (2.75) |
| 2021 | 12.88 | 0.21 | 2.08 | 2.29 | (0.18) |  | (0.18) |

---

&nbsp;&nbsp;&nbsp;&nbsp;† Per share amounts
 calculated using average shares method.

&nbsp;&nbsp;&nbsp;&nbsp;‡ The
 Fund will also indirectly bear their prorated share of expenses of any underlying funds in which it invests. Such expenses are not included
 in the calculation of this ratio.

§ The net investment income ratio does not reflect the proportionate share of income and expenses of the underlying funds in which the Fund invests.

Amounts designated as "—" are $0 or round to $0.

*The accompanying notes are an integral part of the financial statements.*

---

| | |
|:---|:---|
| **18** | **Causeway** Emerging Markets Fund<br>|

---

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| Net Asset<br> Value, End of<br> Year ($) | Total<br> Return (%) | Net Assets,<br> End of<br> Year ($000) | Ratio of<br> Expenses to<br> Average Net<br> Assets (%)‡ | Ratio of<br> Expenses<br> to Average<br> Net Assets<br> (Excluding<br> Waivers and<br> Reimburse-<br> ments) (%)‡ | Ratio<br> of Net<br> Investment<br> Income to<br> Average<br> Net Assets (%)§ | Portfolio<br> Turnover<br> Rate (%) |
| 13.95 | 20.60 | 2063267 | 1.09 | 1.09 | 1.92 | 92 |
| 12.00 | 31.02 | 1698982 | 1.10 | 1.14 | 2.73 | 91 |
| 9.62 | 17.32 | 969435 | 1.11 | 1.16 | 3.22 | 93 |
| 8.60 | (28.39) | 1116479 | 1.10 | 1.13 | 2.98 | 68 |
| 14.87 | 18.06 | 2187057 | 1.10 | 1.11 | 1.40 | 46 |
| 14.16 | 20.38 | 592423 | 1.34 | 1.34 | 1.67 | 92 |
| 12.17 | 30.57 | 472861 | 1.35 | 1.39 | 2.47 | 91 |
| 9.76 | 17.26 | 247275 | 1.36 | 1.41 | 3.03 | 93 |
| 8.69 | (28.63) | 254914 | 1.35 | 1.38 | 2.42 | 68 |
| 14.99 | 17.78 | 684530 | 1.35 | 1.36 | 1.37 | 46 |

---

 

*The accompanying notes are an integral part of the financial statements.*

---

| | |
|:---|:---|
| **Causeway** Emerging Markets Fund | **19** |

---

NOTES TO FINANCIAL STATEMENTS

**1. Organization**

Causeway Emerging Markets Fund (the "Fund") is a series of Causeway Capital Management Trust (the "Trust"). The Trust is an open-end management investment company registered under the Investment Company Act of 1940, as amended (the "1940 Act") and is a Delaware statutory trust that was established on August 10, 2001. The Fund began operations on March 30, 2007. The Fund is authorized to offer two classes of shares, the Institutional Class and the Investor Class. The Declaration of Trust authorizes the issuance of an unlimited number of shares of beneficial interest of the Fund. The Fund is diversified. The Fund's prospectus provides a description of the Fund's investment objectives, policies and strategies. As of September 30, 2025, the Trust has four additional series, the financial statements of which are presented separately.

**2. Significant Accounting Policies**

The following is a summary of the significant accounting policies consistently followed by the Fund.

*Use of Estimates in the Preparation of Financial Statements* – The Fund is an investment company that applies the accounting and reporting guidance issued in Topic 946 by the U.S. Financial Accounting Standards Board. The Fund's financial statements have been prepared to comply with U.S. generally accepted accounting principles ("U.S. GAAP"). The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amount of net assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of increases and decreases in net assets from operations during the reporting period. Actual results could differ from those estimates.

*Security Valuation* – Except as described below, securities listed on a securities exchange (except the NASDAQ Stock Market ("NASDAQ")) or Over-the-Counter ("OTC") for which market quotations are available are valued at the last reported sale price as of the close of trading on each business day, or, if there is no such reported sale, at the last reported bid price for long positions. For securities traded on NASDAQ, the NASDAQ Official Closing Price is used. Securities listed on multiple exchanges or OTC markets are valued on the exchange or OTC market considered by the Fund to be the primary market. The prices for foreign securities are reported in local currency and converted to U.S. dollars using currency exchange rates. Prices for most securities held in the Fund are provided daily by recognized independent pricing agents. If a security price cannot be obtained from an independent pricing agent, the Fund seeks to obtain a bid price from at least one independent broker. Investments in money market funds are valued daily at the net asset value per share.

Futures contracts are valued at the settlement price established each day by the board of exchange on which they are traded, and such settlement prices are provided by an independent source. On days when there is excessive volume or market volatility or when a futures contract does not end trading by the time the Fund calculates its net asset value, the settlement price may not be available at the time the Fund calculates its net asset value. On such days, the best available price (which is typically the last sale price) may be used to value the Fund's futures contracts. Par-ticipation notes, warrants or equity-linked notes used to obtain exposure to the China A-Share market are fair valued based on the underlying stocks and terms of the note, warrant, or equity-linked note including those related to performance and fees.

Securities for which market prices are not "readily available" are valued in accordance with fair value pricing procedures approved by the Fund's Board of Trustees (the "Board"). The Fund's fair value pricing procedures are overseen by the Fund's valuation designee, Causeway Capital Management LLC ("Adviser"), and implemented through a Fair Value Committee (the "Committee"). Some of the more common reasons that may necessitate that a security be valued using fair value pricing procedures include: the security's trading has been halted or suspended; the security has been delisted from a national exchange; the security's primary trading market is temporarily closed at a time when under normal conditions it would be open; or the security's primary pricing source is not able or willing to provide a price. When the Committee values a security in accordance with the fair value pricing procedures, the Committee will determine the value after taking into consideration relevant information reasonably available to the Committee.

---

| | |
|:---|:---|
| **20** | **Causeway** Emerging Markets Fund |

---

NOTES TO FINANCIAL STATEMENTS

(continued)

The Fund uses a third party vendor to fair value certain non-U.S. securities if there is a movement in the U.S. market that exceeds thresholds established by the Committee. The vendor provides fair values for foreign securities based on factors and methodologies involving, generally, tracking valuation correlations between the U.S. market and each non-U.S. security and such fair values are applied by the administrator if a pre-determined confidence level is reached for the security.

In accordance with the authoritative guidance on fair value measurements and disclosure under U.S. GAAP, the Fund discloses fair value of its investments in a hierarchy that prioritizes the inputs to valuation techniques used to measure the fair value. The objective of a fair value measurement is to determine the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date (an exit price). Accordingly, the fair value hierarchy gives the highest

priority to quoted prices (unadjusted) in active markets for identical assets or liabilities (Level 1) and the lowest priority to unobservable inputs (Level 3). The guidance establishes three levels of fair value hierarchy as follows:

● Level 1 — Unadjusted quoted prices in active markets for identical, unrestricted assets or liabilities that the Fund has the ability to access at the measurement date;

● Level 2 — Quoted prices for similar assets or liabilities in active markets, quoted prices for identical or similar assets or liabilities in markets which are not active, or prices based on inputs that are observable (either directly or indirectly); and

● Level 3 — Prices, inputs or proprietary modeling techniques which are both significant to the fair value measurement and unobservable (supported by little or no market activity).

Investments are classified within the level of the lowest significant input considered in determining fair value. Investments classified within Level 3 which fair value measurement considers several inputs may include Level 1 or Level 2 inputs as components of the overall fair value measurement.

Changes in valuation techniques may result in transfers in or out of an investment's assigned level within the hierarchy during the reporting period. Changes in the classification between Levels 1 and 2 occur primarily when foreign equity securities are fair valued by the Fund's third party vendor using other observable market–based inputs in place of closing exchange prices due to events occurring after foreign market closures or when foreign markets are closed, and/or when adjustments are made to security values for "foreign line" securities using "local line" prices. Due to currency and ownership restrictions on foreign persons in certain countries, including without limitation Thailand, securities sometimes trade via a "foreign line" (designated for foreign ownership) and via a "local line" (shares traded locally and held by residents). Liquidity of shares held in the foreign line is often more limited than the local line. As the last traded price of a foreign line may not represent fair value, if the securities can readily be traded through a broker to access the local line, the securities may be priced using the last traded local line price.

---

| | |
|:---|:---|
| **Causeway** Emerging Markets Fund | **21** |

---

NOTES TO FINANCIAL STATEMENTS

(continued)

As of and during the fiscal year ended September 30, 2025, there were no changes to the Fund's fair value methodologies.

*Federal Income Taxes* – The Fund intends to continue to qualify as a regulated investment company under Subchapter M of the Internal Revenue Code and to distribute substantially all of its taxable income. Accordingly, no provision for Federal income taxes has been made in the financial statements.

The Fund evaluates tax positions taken or expected to be taken in the course of preparing the Fund's tax returns to determine whether it is "more-likely-than-not" (i.e., greater than 50-percent) that each tax position will be sustained upon examination by a taxing authority based on the technical merits of the position. Tax positions not deemed to meet the "more-likely-than-not" threshold are recorded as a tax benefit or expense in the current year. The Fund did not record any tax provision in the current period. However, management's conclusions regarding tax positions taken may be subject to review and adjustment at a later date based on factors including, but not limited to, examination by tax authorities (i.e., the last 3 tax years, as applicable), and on-going analysis of and changes to tax laws, regulations and interpretations thereof.

As of and during the fiscal year ended September 30, 2025, the Fund did not have a liability for any unrec-

ognized tax benefits. The Fund recognizes interest and penalties, if any, related to unrecognized tax benefits as income tax expense in the Statement of Operations. During the period, the Fund did not incur any significant interest or penalties.

Withholding taxes on foreign dividends have been provided for in accordance with the Fund's understanding of the applicable country's tax rules and rates. The Fund or its agent files withholding tax reclaims in certain jurisdictions to recover certain amounts previously withheld. The Fund may record a reclaim receivable based on collectability, which includes factors such as the jurisdiction's applicable laws, payment history and market convention. Professional fees paid to those that provide assistance in receiving the tax reclaims, which generally are contingent upon successful receipt of reclaimed amounts, are recorded in Professional Fees on the Statement of Operations once the amounts are due. The professional fees related to pursuing these tax reclaims are not subject to the Adviser's expense limit agreement described in Note 3.

*Security Transactions and Related Income* – Security transactions are accounted for on the date the security is purchased or sold (trade date). Dividend income is recognized on the ex-dividend date, and interest income is recognized using the accrual basis of accounting. Costs used in determining realized gains and losses on the sales of investment securities are those of the specific securities sold.

*Foreign Currency Translation* – The books and records of the Fund are maintained in U.S. dollars on the following basis:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1) the market value or fair value of investment securities, assets and liabilities is converted at the current rate of exchange; and

---

| | |
|:---|:---|
| **22** | **Causeway** Emerging Markets Fund |

---

NOTES TO FINANCIAL STATEMENTS

(continued)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2) purchases and sales of investment securities, income and expenses are converted at the relevant rates of exchange prevailing on the respective dates of such transactions.

The Fund does not isolate that portion of gains and losses on investments in equity securities that is due to changes in the foreign exchange rates from that which is due to changes in market prices of equity securities.

*Foreign Currency Exchange Contracts* – When the Fund purchases or sells foreign securities, it enters into corresponding foreign currency exchange contracts to settle the securities transactions. Losses from these foreign exchange transactions may arise from changes in the value of the foreign currency between trade date and settlement date or if the counterparties do not perform under the contract's terms.

*Futures Contracts* – To the extent consistent with its investment objective and strategies, the Fund may use futures contracts for cash management as well as to enhance the Fund's returns. Initial margin deposits of cash or securities are made upon entering into futures contracts. The contracts are marked to market daily and the resulting changes in value are accounted for as unrealized gains and losses. Variation margin payments are paid or received, depending upon whether unrealized gains or losses are incurred. When the contract is closed, the Fund records a realized gain or loss on the Statement of Operations equal to the difference between the contract price at closing and the contract price at opening.

Risks of entering into futures contracts include the possibility that there will be an imperfect price correlation between the futures and the underlying securities.

Second, it is possible that a lack of liquidity for futures contracts could exist in the secondary market,

resulting in an inability to close a position prior to its maturity date. Third, the futures contract involves the risk that the Fund could lose more than the original margin deposit required to initiate a futures transaction. Finally, the risk exists that losses could exceed amounts disclosed on the Statement of Assets and Liabilities. Refer to the Fund's Schedule of Investments for details regarding open futures contracts as of September 30, 2025.

The Fund invests in futures contracts, including futures contracts based on emerging markets indices, to obtain exposures to emerging markets for cash management or other reasons.

During the fiscal year ended September 30, 2025, the average quarterly notional amount of futures was $148,397 (000).

The following table is the exposure by type of risk on the derivative held throughout the fiscal year (000):

---

| | | |
|:---|:---|:---|
| Statement of Assets and Liabilities Location |  | Asset <br> Derivative |
| Equity Risk Futures Contracts | Unrealized appreciation on futures contracts\* | $1088 |

---

\* Unrealized appreciation on Futures Contracts is included in distributable earnings.

The effect of the derivative instrument on the Statement of Operations for the fiscal year ended October 31, 2025, was as follows (000):

---

| | | |
|:---|:---|:---|
| | Net realized <br> Gain\* | Change in <br> Unrealized <br> Depreciation\*\* |
| Equity Risk Futures Contracts | $12099 | $(1368) |

---

\* Futures Contracts are included in net realized gain on Futures Contracts.

\*\* Futures Contracts are included in change in unrealized depreciation on Futures Contracts.

---

| | |
|:---|:---|
| **Causeway** Emerging Markets Fund | **23** |

---

NOTES TO FINANCIAL STATEMENTS

(continued)

*Equity-Linked Notes –* An equity-linked note is a structured security with a return linked to one or more underlying reference equity securities or an index of securities. Changes in the market value of equity-linked notes are recorded as unrealized appreciation or depreciation and realized gains or losses are recorded upon the sale or maturity of the notes in the Statement of Operations within investments in securities. The risks of investing in equity-linked notes include unfavorable price movements in the underlying securities and the credit risk of the issuing financial institution. Equity-linked notes may be more volatile and less liquid than other investments held by the Fund.

*Expense/Classes* – Expenses that are directly related to one Fund of the Trust are charged directly to that Fund. Other operating expenses of the Trust are prorated to the Fund and the other series of the Trust on the basis of relative daily net assets. Expenses of the Shareholder Service Plan and Agreement for the Investor Class are borne by that class of shares. Income, realized and unrealized gains (losses) and non-class specific expenses are allocated to the respective classes on the basis of relative daily net assets.

*Dividends and Distributions* – Dividends from net investment income, if any, are declared and paid on an annual basis. Any net realized capital gains on sales of securities are distributed to shareholders at least annually.

*Cash* – Idle cash may be swept into various time deposit accounts and is classified as cash on the Statement of Assets and Liabilities. The Fund maintains cash in bank deposit accounts which, at times, may exceed United States federally insured limits. Amounts invested and earned income are available on the same business day.

&nbsp;&nbsp;&nbsp;&nbsp;**3.** **Investment Advisory, Administration, Shareholder Service and Distribution Agreements** 

The Trust, on behalf of the Fund, has entered into an Investment Advisory Agreement (the "Advisory Agreement") with the Adviser. Under the Advisory Agreement, the Adviser is entitled to a monthly fee equal to an annual rate of 1.00% of the Fund's average daily net assets. The Adviser has contractually agreed through January 31, 2026 to waive its fee and, to the extent necessary, reimburse the Fund to keep total annual fund operating expenses (excluding brokerage fees and commissions, interest, taxes, shareholder service fees, fees and expenses of other funds in which the Fund invests, tax reclaim-related fees and expenses, and extraordinary expenses) from exceeding 1.10% of Institutional Class and Investor Class average daily net assets. No waivers or reimbursements were required for the fiscal year ended September 30, 2025. The expense waivers and reimbursements are not subject to recapture.

The Trust and SEI Investments Global Funds Services (the "Administrator") have entered into an Administration Agreement. Under the terms of the Administration Agreement, the Administrator is entitled to an annual fee which is calculated daily and paid monthly based on the aggregate average daily net assets of the Trust subject to a minimum annual fee.

The Trust has adopted a Shareholder Service Plan and Agreement for Investor Class shares that allows the Trust to pay broker-dealers and other financial intermediaries a fee of up to 0.25% per annum of average daily net assets for services provided to Investor Class shareholders. For the fiscal year ended September 30, 2025, the Investor Class paid 0.25% annualized of average daily net assets under this plan.

The Trust and SEI Investments Distribution Co. (the "Distributor") have entered into a Distribution Agreement. The Distributor receives no fees from the Fund for its distribution services under this agreement.

---

| | |
|:---|:---|
| **24** | **Causeway** Emerging Markets Fund |

---

NOTES TO FINANCIAL STATEMENTS

(continued)

The officers of the Trust are also officers or employees of the Administrator or Adviser. They receive no fees for serving as officers of the Trust.

As of September 30, 2025, approximately $11,058 (000) of the Fund's net assets were held by investors affiliated with the Adviser.

**4. Investment Transactions**

The cost of security purchases and the proceeds from the sales of securities, other than short-term investments, during the fiscal year ended September 30, 2025, for the Fund were as follows (000):

---

| | |
|:---|:---|
| Purchases | Sales |
| $1988651 | $1928908 |

---

**5. Risks of Foreign Investing**

Because the Fund invests most of its assets in foreign securities, the Fund is subject to additional risks. For example, the value of the Fund's securities may be affected by social, political and economic developments and U.S. and foreign laws relating to foreign investments. Further, because the Fund invests in securities denominated in foreign currencies, the Fund's securities may go down in value depending on foreign exchange rates. Other risks include trading, settlement, custodial, and other operational risks; withholding or other taxes; and the less stringent investor protection and disclosure standards of some foreign markets. All of these factors can make foreign securities less liquid, more volatile and harder to value than U.S. securities. These risks are higher for emerging markets investments.

Global economies are increasingly interconnected, and political, economic and other conditions and

events (including, but not limited to, war, conflicts, natural disasters, pandemics, epidemics, trading and tariff arrangements, inflation/deflation, and social unrest) in one country or region might adversely impact a different country or region. Furthermore, the occurrence of severe weather or geological events, fires, floods, earthquakes, climate change or other natural or man-made disasters, outbreaks of disease, epidemics and pandemics, malicious acts, cyber-attacks or terrorist acts, among other events, could adversely impact the performance of the Fund. These events may result in, among other consequences, closing borders, exchange closures, health screenings, healthcare service delays, quarantines, cancellations, supply chain disruptions, lower consumer demand, market volatility and general uncertainty. These events could adversely impact issuers, markets and economies over the short- and long-term, including in ways that cannot necessarily be foreseen. The Fund could be negatively impacted if the value of a portfolio holding were harmed by political or economic conditions or events. Moreover, negative political and economic conditions and events could disrupt the processes necessary for the Fund's operations.

For example, Russia's invasion of Ukraine in February 2022, the resulting responses by the U.S. and other countries, and the potential for wider conflict, have increased and may continue to increase volatility and uncertainty in financial markets worldwide. The U.S. and other countries have imposed broad-ranging economic sanctions on Russia and Russian entities and individuals, and may impose additional sanctions, including on other countries that provide military or economic support to Russia. These sanctions, among other things, restrict companies from doing business with Russia and Russian issuers, and may adversely affect companies with economic or financial exposure to Russia and Russian issuers. The extent and duration of Russia's military actions and the repercussions of such actions are not known. The invasion may widen beyond Ukraine and may escalate, including through retaliatory actions and cyberattacks by Russia and even other countries. These events may result in further and significant market disruptions and may adversely affect regional and global economies including those of Europe and the U.S. Certain industries and markets, such as those involving oil, natural gas and other commodities, as well as global supply chains, may be particularly adversely affected. Whether or not the Fund invests in securities of issuers located in Russia, Ukraine and adjacent countries or with significant exposure to issuers in these countries, these events could negatively affect the value and liquidity of the Fund's investments. Further, recent armed conflicts in the Middle East and related events could cause significant market disruptions and volatility. These and other similar events could negatively affect the performance of the Fund.

---

| | |
|:---|:---|
| **Causeway** Emerging Markets Fund | **25** |

---

NOTES TO FINANCIAL STATEMENTS

(continued)

**6. Federal Tax Information**

The Fund is classified as a separate taxable entity for Federal income tax purposes. The Fund intends to continue to qualify as a separate "regulated investment company" under Subchapter M of the Internal Revenue Code and make the requisite distributions to shareholders that will be sufficient to relieve it from Federal income tax and Federal excise tax. Therefore, no Federal tax provision is required. To the extent that dividends from net investment income and distributions from net realized capital gains exceed amounts reported in the financial statements, such amounts are reported separately.

The Fund may be subject to taxes imposed by countries in which it invests in issuers existing or operating in such countries. Such taxes are generally based on income earned. The Fund accrues such taxes when the related income is earned. Dividend and interest income is recorded net of non-U.S. taxes paid. Gains realized by the Fund on the sale of securities in cer-

tain countries are subject to non-U.S. taxes. Expected capital gains taxes on appreciated securities, if any, are accrued as unrealized losses and incurred capital gains taxes are reflected as realized losses upon the sale of the related security. The Fund records a liability based on unrealized gains to provide for potential non-U.S. taxes payable upon the sale of these securities.

The amounts of distributions from net investment income and net realized capital gains are determined in accordance with Federal income tax regulations, which may differ from those amounts determined under U.S. GAAP. These book/tax differences are either temporary or permanent in nature. The character of distributions made during the year from net investment income or net realized gains, and the timing of distributions made during the year may differ from those during the year that the income or realized gains (losses) were recorded by the Fund. To the extent these differences are permanent, adjustments are made to the appropriate equity accounts in the period that the differences arise. During the fiscal year ended September 30, 2025, there were no permanent differences credited or charged to Paid-in Capital and Distributable Earnings.

The tax character of dividends and distributions declared during the fiscal years ended September 30, 2025 and September 30, 2024 was as follows (000):

---

| | | |
|:---|:---|:---|
| | Ordinary <br> Income | Total |
| 2025 | $73942 | $73942 |
| 2024 | 55253 | 55253 |

---

---

| | |
|:---|:---|
| **26** | **Causeway** Emerging Markets Fund |

---

NOTES TO FINANCIAL STATEMENTS

(continued)

As of September 30, 2025, the components of distributable earnings (accumulated losses) on a tax basis were as follows (000):

---

| | |
|:---|:---|
| Undistributed Ordinary Income | $27220 |
| Undistributed Long-Term Capital Gains | 22387 |
| Unrealized Appreciation | 562468 |
| Other Temporary Differences | (4) |
| Total Distributable Earnings | $612071 |

---

For the fiscal year ended September 30, 2025, the Fund utilized $36,562 (000) of short term capital loss carryforwards and $1,244 (000) of long term capital loss carryforwards.

The difference between book-basis and tax-basis unrealized appreciation (depreciation) is due to differences in the timing of recognition of gains and losses on investments for tax and book purposes. The Funds' net unrealized appreciation/(depreciation) difference is attributable primarily to wash sales and passive foreign investment companies. At September 30, 2025, the total cost of investments for Federal income tax purposes and the aggregate gross unrealized appreciation and depreciation on investments for the Fund were as follows (000):

---

| | | | |
|:---|:---|:---|:---|
| Federal Tax Cost | Appreciated Securities | Depreciated Securities | Net Unrealized Appreciation |
| $2077308 | $664521 | $(102053) | $562468 |

---

**7. Capital Shares Issued and Redeemed**

Capital share transactions for the Fund were as follows (000):

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Fiscal Year Ended <br> September 30, 2025 | Fiscal Year Ended <br> September 30, 2025 | Fiscal Year Ended <br> September 30, 2024 | Fiscal Year Ended <br> September 30, 2024 |
|  | **Shares** | **Value** | **Shares** | **Value** |
| **Institutional Class** |  |  |  |  |
| Shares Sold | 49130 | $576615 | 71361 | $768358 |
| Shares Issued in Reinvestment of Dividends and Distributions | 4221 | 45843 | 4045 | 38270 |
| Shares Redeemed | (47045) | (545435) | (34555) | (351457) |
| Increase in Shares Outstanding Derived from Institutional Class Transactions | 6306 | 77023 | 40851 | 455171 |
| **Investor Class** |  |  |  |  |
| Shares Sold | 22084 | 251959 | 23307 | 253493 |
| Shares Issued in Reinvestment of Dividends and Distributions | 1387 | 15315 | 1247 | 11993 |
| Shares Redeemed | (20467) | (228508) | (11058) | (116666) |
| Increase in Shares Outstanding Derived from Investor Class Transactions | 3004 | 38766 | 13496 | 148820 |
| Net Increase in Shares Outstanding from Capital Share Transactions | **9310** | $**115789** | **54347** | $**603991** |

---

---

| | |
|:---|:---|
| **Causeway** Emerging Markets Fund | **27** |

---

NOTES TO FINANCIAL STATEMENTS

(continued)

**8. Significant Shareholder Concentration**

As of September 30, 2025, two of the Fund's share-holders of record owned 35% of the Institutional Class shares. The Fund may be adversely affected when a shareholder purchases or redeems large amounts of shares, which may impact the Fund in the same manner as a high volume of redemption requests. Such large shareholders may include, but are not limited to, institutional investors and asset allocators who make investment decisions on behalf of underlying clients. Significant shareholder purchases and redemptions may adversely impact the Fund's portfolio management and may cause the Fund to make investment decisions at inopportune times or prices or miss attractive investment opportunities. Such transactions may also increase the Fund's transaction costs, accelerate the realization of taxable income if sales of securities result in gains, or otherwise cause the Fund to perform differently than intended.

**9. Indemnifications**

Under the Trust's organizational documents, each Trustee, officer, employee or other agent of the Trust is indemnified against certain liabilities that may arise out of the performance of his or her duties to the Fund. Additionally, in the normal course of business, the Fund enters into contracts, including the Fund's servicing agreements, that contain a variety of indemnification clauses. The Fund's maximum exposure under these arrangements is unknown as this would involve future claims that may be made against the Fund that have not yet occurred. The risk of material loss as a result of such indemnification claims is considered remote.

**10. Recent Accounting Pronouncements**

In this reporting period, the Fund adopted FASB Accounting Standards Update 2023-07, Segment Reporting (Topic 280) - Improvements to Reportable Segment Disclosures ("ASU 2023-07"). Adoption of the new standard impacted financial statement disclosures only and did not affect the Fund's financial position or the results of its operations. An operating segment is defined in Topic 280 as a component of a public entity that engages in business activities from which it may recognize revenues and incur expenses, has operating results that are regularly reviewed by the public entity's chief operating decision maker ("CODM") to make decisions about resources to be allocated to the segment and assess its performance, and has discrete financial information available. The chief operating officer of the Fund's Adviser acts as the Fund's CODM. The Fund represents a single operating segment, as the CODM monitors the operating results of the Fund as a whole and the Fund's long-term strategic asset allocation is pre-determined in accordance with the Fund's single investment objective which is executed by the Fund's portfolio managers. The financial information in the form of the Fund's schedule of investments, total returns, expense ratios and changes in net assets (i.e., changes in net assets resulting from operations, subscriptions and redemptions), which are used by the CODM to assess the segment's performance versus the Fund's comparative benchmarks and to make resource allocation decisions for the Fund's single segment, is consistent with that presented within the Fund's financial statements. Segment assets are reflected on the accompanying Statement of Assets and Liabilities as "total assets" and significant segment expenses are listed on the accompanying Statement of Operations.

In December 2023, the FASB issued Accounting Standards Update 2023-09 ("ASU 2023-09"), Income Taxes (Topic 740) Improvements to Income Tax Disclosures, which amends quantitative and qualitative income tax disclosure requirements in order to increase disclosure consistency, bifurcate income tax information by jurisdiction and remove information that is no longer beneficial. ASU 2023-09 is effective for annual periods beginning after December 15, 2024, and early adoption is permitted but not required. ASU 2023-09 has not been adopted early and management is evaluating the impacts of these changes on the Fund's financial statements.

---

| | |
|:---|:---|
| **28** | **Causeway** Emerging Markets Fund |

---

NOTES TO FINANCIAL STATEMENTS

(concluded)

**11. Subsequent Events**

The Fund has evaluated the need for disclosures and/ or adjustments resulting from subsequent events through the date the financial statements were issued. Based on this evaluation, no disclosures and/or adjustments were required to the financial statements.

---

| | |
|:---|:---|
| **Causeway** Emerging Markets Fund | **29** |

---

REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM

To the Board of Trustees of Causeway Capital Management Trust and Shareholders of Causeway Emerging Markets Fund

***Opinion on the Financial Statements***

We have audited the accompanying statement of assets and liabilities, including the schedule of investments, of Causeway Emerging Markets Fund (one of the funds constituting Causeway Capital Management Trust, hereafter referred to as the "Fund") as of September 30, 2025, the related statement of operations for the year ended September 30, 2025, the statement of changes in net assets for each of the two years in the period ended September 30, 2025, including the related notes, and the financial highlights for each of the five years in the period ended September 30, 2025 (collectively referred to as the "financial statements"). In our opinion, the financial statements present fairly, in all material respects, the financial position of the Fund as of September 30, 2025, the results of its operations for the year then ended, the changes in its net assets for each of the two years in the period ended September 30, 2025, and the financial highlights for each of the five years in the period ended September 30, 2025 in conformity with accounting principles generally accepted in the United States of America.

***Basis for Opinion***

These financial statements are the responsibility of the Fund's management. Our responsibility is to express an opinion on the Fund's financial statements based on our audits. We are a public accounting firm registered with the Public Company Accounting Oversight Board (United States) (PCAOB) and are required to be independent with respect to the Fund in accordance with the U.S. federal securities laws and the applicable rules and regulations of the Securities and Exchange Commission and the PCAOB.

We conducted our audits of these financial statements in accordance with the standards of the PCAOB. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement, whether due to error or fraud.

Our audits included performing procedures to assess the risks of material misstatement of the financial statements, whether due to error or fraud, and performing procedures that respond to those risks. Such procedures included examining, on a test basis, evidence regarding the amounts and disclosures in the financial statements. Our audits also included evaluating the accounting principles used and significant estimates made by management, as well as evaluating the overall presentation of the financial statements. Our procedures included confirmation of securities owned as of September 30, 2025 by correspondence with the custodian and brokers; when replies were not received from brokers, we performed other auditing procedures. We believe that our audits provide a reasonable basis for our opinion.

/s/ PricewaterhouseCoopers LLP

Los Angeles, California

November 24, 2025

We have served as the auditor of one or more investment companies in the Causeway Capital Management Investment Company Complex since 2001.

---

| | |
|:---|:---|
| **30** | **Causeway** Emerging Markets Fund |

---

NOTICE TO SHAREHOLDERS (Unaudited)

The information set forth below is for the Fund's fiscal year as required by federal laws. Shareholders, however, must report distributions on a calendar year basis for income tax purposes, which may include distributions for portions of two fiscal years of the Fund. Accordingly, the information needed by shareholders for income tax purposes will be sent to them in early 2026. Please consult your tax adviser for proper treatment of this information.

For the fiscal year ended September 30, 2025, the Fund is designating the following items with regard to distributions paid during the year:

---

| | | | | |
|:---|:---|:---|:---|:---|
| (A) | (B) | (C) | (D) | (E) |
| Long Term<br> Capital Gains<br> Distributions<br> (Tax Basis) | Ordinary<br> Income<br> Distributions<br> (Tax Basis) | Tax Exempt<br> Distributions<br> (Tax Basis) | Total<br> Distributions<br> (Tax Basis) | Dividends <sup>(1)</sup><br> for Corporate<br> Dividends Received<br> Deduction<br> (Tax Basis) |
| 0.00% | 100.00% | 0.00% | 100.00% | 0.03% |

---

---

| | | | |
|:---|:---|:---|:---|
| (F) | (G) | (H) | (I) |
| Qualified<br> Dividend<br> Income | Interest<br> Related<br> Dividends | Qualified<br> Short-Term<br> Capital Gain<br> Dividends | Qualified<br> Foreign Tax<br> Credit Pass<br> Through |
| 39.12% | 0.00% | 0.00% | 17.81% |

---

<sup>(1)</sup> Qualified Dividends represent dividends which qualify for the corporate dividends received deduction.

Items (A), (B), (C) and (D) are based on a percentage of the Fund's total distribution including pass-through as foreign tax credit.

Item (E) is based on a percentage of ordinary income distributions of the Fund.

Item (F) represents the amount of "Qualified Dividend Income" as defined in the Jobs and Growth Tax Relief Reconciliation Act of 2003 and is reflected as a percentage of "Ordinary Income Distributions." It is the Fund's intention to designate the maximum amount permitted by the law up to 100%.

Item (I) is the amount of "Qualifying Foreign Taxes" as a percentage of ordinary distribution during the fiscal year ended September 30, 2025. The Fund accrued Foreign taxes during the fiscal year ended September 30, 2025, amounted to $16,020,124 and are expected to be passed through to shareholders as foreign tax credits on Form 1099 – Dividend for the year ended December 31, 2025. In addition, for the fiscal year ended September 30, 2025, gross income derived from sources within foreign countries amounted to $50,417,151 for the Fund.

---

| | |
|:---|:---|
| **Causeway** Emerging Markets Fund | **31** |

---

OTHER INFORMATION (FORM N-CSR ITEMS 8-11) (UNAUDITED)

**Item 8. Changes in and Disagreements with Accountants for Open-End Management Investment Companies.**

Not applicable.

**Item 9. Proxy Disclosures for Open-End Management Investment Companies.**

There were no matters submitted to a vote of shareholders during the period covered by this report.

**Item 10. Remuneration Paid to Directors, Officers, and Others of Open-End Management Investment Companies.**

The remuneration paid by the company during the period covered by the report to the Trustees on the company's Board of Trustees is disclosed within the Statement(s) of Operations of the financial statements (Item 7).

**Item 11. Statement Regarding Basis for Approval of Investment Advisory Contract.**

At a meeting on August 25, 2025, the Trustees considered and approved the renewal of the investment advisory agreement (the "Advisory Agreement") between Causeway Capital Management Trust (the "Trust") and Causeway Capital Management LLC (the "Adviser") with respect to Causeway Emerging Markets Fund (the "Fund") for a twelve-month period beginning September 20, 2025. Section 15(c) of the Investment Company Act of 1940, as amended (the "1940 Act") requires the Board of Trustees (the "Board") of the Trust annually to approve continuance of the Advisory Agreement. Continuance of the Advisory Agreement must be approved by a majority of the Trustees and a majority of the independent Trustees (i.e., Trustees who are not "interested persons" of the Trust as defined in the 1940 Act). The Board was comprised of four independent Trustees when the continuation of the Advisory Agreement was considered.

**Information Received**. At each regular quarterly meeting, the Board reviews a wide variety of materials relating to the nature, extent and quality of the Adviser's services, including information concerning the Fund's performance. In addition, at a special meeting on June 16, 2025, the Trustees received and reviewed extensive quantitative and qualitative materials prepared by the Adviser relating to the Advisory Agreement in response to information requested on the independent Trustees' behalf by their independent legal counsel. At the June special meeting, the Trustees also received and reviewed a report prepared by Broadridge Financial Solutions, Inc. providing comparative expense and performance information about the Fund to assist with the annual review of the Advisory Agreement. Following that meeting, the Trustees requested additional information, and received and reviewed further information as well as materials prepared by the Adviser relating to their consideration of the renewal of the Advisory Agreement at the August 25, 2025 meeting.

**Factors Considered**. In reviewing the Advisory Agreement, the Trustees considered a number of factors including, but not limited to: (1) the nature, extent and quality of the services provided by the Adviser, (2) the investment performance of the Fund, (3) comparisons of the services rendered and the amounts paid under the Advisory Agreement with those of other funds and those of the Adviser under other investment advisory agreements with other registered investment companies and other types of clients, (4) the costs of the services provided and estimated profits realized by the Adviser and its affiliates from their relationship with the Fund, (5) the extent to which economies of scale would be realized as the Fund grows and whether fee levels reflect these economies of scale for the benefit of Fund investors, and (6) any other benefits derived by the Adviser from its relationship with the Fund.

---

| | |
|:---|:---|
| **32** | **Causeway** Emerging Markets Fund |

---

OTHER INFORMATION (FORM N-CSR ITEMS 8-11) (UNAUDITED)

(continued)

First, regarding the nature, extent and quality of the services provided by the Adviser, the Trustees considered, among other things, the Adviser's personnel, experience, track record and compliance program. The Trustees considered the qualifications, backgrounds and responsibilities of the Adviser's principal personnel who provide services to the Fund, as well as the level of attention those individuals provide to the Fund. The Trustees noted the Adviser's commitment to devoting resources to staffing and technology in support of its investment management services. They also reviewed the Adviser's investment philosophy and processes and its compliance program, its various administrative, legal and regulatory responsibilities, and considered the scope of the Adviser's services to the Fund. The Trustees concluded that the nature, extent and quality of the services provided by the Adviser should continue to benefit the Fund and its shareholders.

Second, regarding the investment performance of the Fund, the Trustees reviewed the investment results of the Fund for various periods ended March 31, 2025, compared to the results of the MSCI Emerging Markets Index, the median of the mutual funds included in the Morningstar Diversified Emerging Markets category, and the median of the funds in a peer group selected by Broadridge. They noted that, consistent with Broadridge's practice, the Broadridge 15(c) Report focused on one class of shares – the Institutional Class – and that Investor Class shares are subject to a 25 basis point shareholder service fee, which increases expenses and reduces performance from that shown. They noted that the Institutional Class had outperformed its Broadridge peer group median for the prior one, and annualized three and five-year periods, and had underperformed its Broadridge peer group for the annualized ten-year period. The Trustees considered the Fund's exposure to the value investment style, global uncertainties and volatility, a number of which impacted emerging markets, and continued enhancements to the quantitative model used by the Fund, and concluded that the overall performance results and other considerations supported their view that the Adviser's services to the Fund are of a high quality. The Trustees concluded that the Adviser's record in managing the Fund in a manner consistent with the described investment strategy and style indicated that its continued management had the potential to benefit the Fund and its shareholders.

Third, regarding the Fund's advisory fee and total expenses as a percentage of the Fund's average daily net assets:

● The Trustees compared the Fund's advisory fee and total expenses with those of other similar mutual funds. They noted that the Fund's advisory fee was 100 basis points per annum compared to a median of 93 basis points for its Broadridge peer group and a range of 62-126 basis points for the funds in its peer group. The Trustees noted that the Fund's Institutional Class annual expense ratio, after application of the Adviser's expense limit, of 110 basis points was 9 basis points higher than the median of the funds in its Broadridge peer group and within the range of 72-118 basis points for the funds in its peer group.

---

| | |
|:---|:---|
| **Causeway** Emerging Markets Fund | **33** |

---

OTHER INFORMATION (FORM N-CSR ITEMS 8-11) (UNAUDITED)

(continued)

● The Trustees compared the Fund's advisory fee with the fees charged by the Adviser to other clients. The Trustees noted that, although the fees paid by the Adviser's other accounts were lower than the fee paid by the Fund, the differences appropriately reflected the Adviser's significantly greater responsibilities with respect to the Fund and the risks of managing a sponsored fund, and are not determinative of whether the fees charged to the Fund are fair. The Trustees noted that the Adviser's services to the Fund included the provision of many additional or more extensive administrative and shareholder services (such as services related to the Fund's disclosure documents, financial statements, 1940 Act compliance policies and procedures, preparation of Board and committee materials and meetings, annual Board reports and certifications, oversight of daily valuation, oversight of Fund service providers, negotiation of Fund intermediary agreements, coordination with Fund intermediaries providing shareholder recordkeeping services, shareholder communications, and due diligence for advisers, consultants and institutional investors).

The Trustees concluded that the Fund's advisory fee and expense ratio were reasonable and appropriate under the circumstances.

Fourth, the Trustees considered the Adviser's costs of providing services to the Fund and estimated profits realized by the Adviser from its relationship with the Fund. They reviewed the Adviser's estimated after-tax profit margin with respect to such services for the twelve months ended March 31, 2025 and the methodology used to generate that estimate, and noted that the cost allocation methodology presented to the Trustees was reasonable. They also observed that the Adviser's estimated profitability was within the range cited as reasonable in various court decisions. After consideration of these matters, the Trustees concluded that the Adviser's operating margin with respect to its relationship with the Fund was reasonable.

Fifth, regarding economies of scale, the Trustees observed that, although the Fund's advisory fee schedule does not contain fee breakpoints, it is difficult to determine the existence or extent of any economies of scale. They noted that the Adviser is sharing economies of scale through reasonable advisory fee levels, expense limit agreements, and devoting additional resources to staff and technology, including cybersecurity and the use of artificial intelligence tools, to focus on continued performance and service to the Fund's shareholders. They considered certain initiatives and noted that the Adviser continues to innovate and enhance its capabilities, and that innovation is a means of reinvesting in its services. They also noted the entrepreneurial risks taken by the Adviser in forming the Fund and that, in the Fund's prior years, the Adviser incurred losses in managing the Fund. The Trustees concluded that under the circumstances the Adviser is sharing any economies of scale with the Fund appropriately.

Sixth, regarding any other benefits derived by the Adviser from its relationship with the Fund – often called "fall-out" benefits — the Trustees observed that the Adviser does not earn "fall-out" benefits such as affiliated custody fees, affiliated transfer agency fees, affiliated brokerage commissions, profits from rule 12b-1 fees, "contingent deferred sales commissions" or "float" benefits on short-term cash. The Trustees concluded that the primary "fall-out" benefit received by the Adviser is research services provided by brokers used by the Fund and that this benefit is reasonable in relation to the value of the services that the Adviser provides to the Fund.

---

| | |
|:---|:---|
| **34** | **Causeway** Emerging Markets Fund |

---

OTHER INFORMATION (FORM N-CSR ITEMS 8-11) (UNAUDITED)

(concluded)

**Approval**. At the June 16, 2025 and August 25, 2025 meetings, the Trustees discussed the information and factors noted above with representatives of the Adviser and, at the August 25, 2025 meeting, the Trustees considered the approval of the Advisory Agreement. The independent Trustees also met in a private session at all meetings with independent counsel at which no representatives of the Adviser were present. In their deliberations, the independent Trustees did not identify any particular information or factor that was determinative or controlling, each Trustee did not necessarily attribute the same weight to each factor, and the foregoing summary does not detail all the matters considered. Based on their review, the Trustees (all of whom are independent) unanimously concluded that the Advisory Agreement is fair and reasonable to the Fund and its shareholders and that the Fund's advisory fee is reasonable and renewal of the Advisory Agreement is in the best interests of the Fund and its share-holders, and the Board of Trustees unanimously approved renewal of the Advisory Agreement for a twelve-month period beginning September 20, 2025.

---

| | |
|:---|:---|
| **Causeway** Emerging Markets Fund | **35** |

---

---

| | |
|:---|:---|
| INVESTMENT ADVISER:<br>**Causeway Capital Management LLC**<br> **11111 Santa Monica Boulevard**<br> **15th Floor**<br> **Los Angeles, CA 90025**<br>DISTRIBUTOR:<br>**SEI Investments Distribution Co.**<br> **One Freedom Valley Drive**<br> **Oaks, PA 19456**<br>**To determine if the Fund is an appropriate investment for you, carefully consider the Fund's investment objectives, risk factors, charges and expenses before investing. Please read the summary or full prospectus carefully before you invest or send money. To obtain additional information including charges, expenses, investment objectives, or risk factors, or to open an account, call 1.866.947.7000, or visit us online at www.causewayfunds.com.**<br>**CCM-AR-002-1900**<br>| ![](fp0096396_01.jpg) |

---

**Item 8.** **Changes in and Disagreements with Accountants for Open-End Investment Companies.**

Included under Item 7.

**Item 9.** **Proxy Disclosures for Open-End Management Investment Companies.**

Included under Item 7.

**Item 10.** **Remuneration Paid to Directors, Officers, and Others of Open-End Investment Companies.**

Included under Item 7.

**Item 11.** **Statement Regarding Basis for Approval of Investment Advisory Contract.**

Included under Item 7.

**Item 12.** **Disclosure of Proxy Voting Policies and Procedures for Closed-End Management Investment Companies.**

Not applicable to open-end management investment companies.

**Item 13.** **Portfolio Managers of Closed-End Management Investment Companies.**

Not applicable to open-end management investment companies.

**Item 14.** **Purchases of Equity Securities by Closed-End Management Investment Company and Affiliated Purchasers.**

Not applicable to open-end management investment companies.

**Item 15.** **Submission of Matters to a Vote of Security Holders.**

There have been no material changes to the registrant's procedures by which shareholders may recommend nominees to the registrant's board of trustees during the period covered by the report.

**Item 16.** **Controls and Procedures.**

(a) The registrant's principal executive and principal financial officers, or persons performing similar functions, have concluded that the registrant's disclosure controls and procedures, as defined in Rule 30a-3(c) under the Act (17 CFR §270.30a-3(c)) as of a date within 90 days of the filing date of the report, are effective based on the evaluation of these controls and procedures required by Rule 30a-3(b) under the Act (17 CFR §270.30a-3(b)) and Rules 13a-15(b) or 15d-15(b) under the Exchange Act (17 CFR §240.13a-15(b) or §240.15d-15(b)).

(b) There were no changes in the registrant's internal control over financial reporting (as defined in Rule 30a-3(d) under the Act (17CFR §270.30a-3(d)) that occurred during the period covered by this report that have materially affected, or are reasonably likely to materially affect, the registrant's internal control over financial reporting.

**Item 17.** **Disclosure of Securities Lending Activities for Closed-End Management Investment Companies**

Not applicable to open-end management investment companies.

**Item 18.** **Recovery of Erroneously Awarded Compensation.**

(a) Not applicable.

(b) Not applicable.

**Item 19.** **Exhibits.**

(a)(1) [Code of Ethics attached hereto.](fp0096396-2_ex99code.htm)

(a)(2) Not applicable.

(a)(3) [A separate certification for the principal executive officer and the principal financial officer of the Registrant, as required by Rule 30a-2(a) under the Act (17 CFR § 270.30a-2(a)), are filed herewith.](fp0096396-2_ex99cert.htm)

(a)(4) Not applicable.

(a)(5) Not applicable.

(b) [Officer certifications, as required by Rule 30a-2(b) under the Act (17 CFR § 270.30a-2(b)), also accompany this filing as exhibits.](fp0096396-2_ex99906cert.htm)

**SIGNATURES**

Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the Registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

---

| | |
|:---|:---|
| (Registrant) | Causeway Capital Management Trust |
| By (Signature and Title) | /s/ Gracie V. Fermelia |
|  | Gracie V. Fermelia, Principal Executive Officer |
| Date: December 5, 2025 |  |

---

Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the Registrant and in the capacities and on the dates indicated.

---

| | |
|:---|:---|
| By (Signature and Title) | /s/ Gracie V. Fermelia |
|  | Gracie V. Fermelia, Principal Executive Officer |
| Date: December 5, 2025 |  |
| By (Signature and Title) | /s/ John Bourgeois |
|  | John Bourgeois, Principal Financial Officer |
| Date: December 5, 2025 |  |

---

## Ex-99.Code

**CAUSEWAY CAPITAL MANAGEMENT TRUST**

**CODE OF ETHICS FOR PRINCIPAL EXECUTIVE AND**

**SENIOR FINANCIAL OFFICERS**

I. Covered Officers/Purpose of the Code

This Code of Ethics for Principal Executive and Senior Financial Officers (the "Code") for Causeway Capital Management Trust (the "Trust") applies to the Trust's Principal Executive Officer and Principal Financial Officer (the "Covered Officers") for the purpose of promoting:

&nbsp;&nbsp;&nbsp;&nbsp;· Honest and ethical conduct, including the ethical handling of actual or apparent
conflicts of interest between personal and professional relationships;

&nbsp;&nbsp;&nbsp;&nbsp;· Full, fair, accurate, timely and understandable disclosure in reports and
documents that a registrant files with, or submits to, the Securities and Exchange Commission ("SEC") and in other public
communications made by the Trust;

&nbsp;&nbsp;&nbsp;&nbsp;· Compliance with applicable laws and governmental rules and regulations;

&nbsp;&nbsp;&nbsp;&nbsp;· The prompt internal reporting of violations of the Code to an appropriate
person or persons identified in the Code; and

&nbsp;&nbsp;&nbsp;&nbsp;· Accountability for adherence to the Code.

Each Covered Officer should adhere to a high standard of business ethics and should be sensitive to situations that may give rise to actual as well as apparent conflicts of interest.

II. Covered Officers Should Handle Ethically Actual and Apparent Conflicts of Interest

**Overview.** A "conflict of interest" occurs when a Covered Officer's private interest interferes with the interests of, or his or her service to, the Trust. For example, a conflict of interest would arise if a Covered Officer, or a member of his or her family, receives improper personal benefits as a result of his or her position with the Trust.

Certain conflicts of interest arise out of the relationships between Covered Officers and the Trust and already are subject to conflict of interest provisions in the Investment Company Act of 1940 ("Investment Company Act") and the Investment Advisers Act of 1940 ("Investment Advisers Act"). For example, Covered Officers may not individually engage in certain transactions (such as the purchase or sale of securities or other property) with the Trust because of their status as "affiliated persons" of the Trust. The Trust's and the investment adviser's compliance programs and procedures are designed to prevent, or identify and correct, violations of these provisions. This Code does not, and is not intended to, repeat or replace these programs and procedures, and such conflicts fall outside of the parameters of this Code.

Although typically not presenting an opportunity for improper personal benefit, conflicts arise from, or as a result of, the contractual relationship between the Trust and its investment adviser, Causeway Capital Management LLC, and its administrator, SEI Investments Global Funds Services, of which the Covered Officers are also officers or employees. As a result, this Code recognizes that the Covered Officers will, in the normal course of their duties (whether formally for the Trust or for the adviser or administrator), be involved in establishing policies and implementing decisions that will have different effects on the adviser, the administrator and the Trust. The participation of the Covered Officers in such activities is inherent in the contractual relationship between the Trust and the adviser and administrator and is consistent with the performance by the Covered Officers of their duties as officers of the Trust. Thus, if performed in conformity with the provisions of the Investment Company Act and the Investment Advisers Act, such activities will be deemed to have been handled ethically. In addition, it is recognized by the Trust's Board of Trustees ("Board") that the Covered Officers may also be officers or employees of one or more other investment companies covered by this or other codes.

Other conflicts of interest are covered by the Code, even if such conflicts of interest are not subject to provisions in the Investment Company Act and the Investment Advisers Act. The following list provides examples of conflicts of interest under the Code, but Covered Officers should keep in mind that these examples are not exhaustive. The overarching principle is that the personal interest of a Covered Officer should not be placed improperly before the interest of the Trust.

Each Covered Officer must:

&nbsp;&nbsp;&nbsp;&nbsp;· Not use his or her personal influence or personal relationships improperly
to influence investment decisions or financial reporting by the Trust whereby the Covered Officer would benefit personally to the detriment
of the Trust;

&nbsp;&nbsp;&nbsp;&nbsp;· Not cause the Trust to take action, or fail to take action, for the individual
personal benefit of the Covered Officer rather than the benefit the Trust;

&nbsp;&nbsp;&nbsp;&nbsp;· Not use material non-public knowledge of portfolio transactions made or contemplated
for the Trust to trade personally or cause others to trade personally in contemplation of the market effect of such transactions; and

&nbsp;&nbsp;&nbsp;&nbsp;· Report at least annually regarding affiliations or other relationships related
to potential conflicts of interest with the Trust.

There are some conflict of interest situations that should not be approved by the Chief Compliance Officer if material. Examples of these include:

&nbsp;&nbsp;&nbsp;&nbsp;· Any outside business activity that detracts from an individual's ability
to devote appropriate time and attention to his or her responsibilities to the Trust;

&nbsp;&nbsp;&nbsp;&nbsp;· Service as a director on the board of any public or private company other
than the investment adviser, principal underwriter, administrator, sponsored investment funds, or any affiliated person thereof;

&nbsp;&nbsp;&nbsp;&nbsp;· The receipt of any extraordinary or extravagant gift from any company with which the Trust has current or prospective business dealings;

&nbsp;&nbsp;&nbsp;&nbsp;· The receipt of any entertainment from any company with which the Trust has current or prospective business dealings unless such entertainment
is customary business meals or entertainment (<u>e.g.</u>, sporting events);

&nbsp;&nbsp;&nbsp;&nbsp;· Any ownership interest in, or any consulting or employment relationship with,
any of the Trust's service providers, other than its investment adviser, principal underwriter, administrator or any affiliated
person thereof; and

&nbsp;&nbsp;&nbsp;&nbsp;· A direct or indirect financial interest in commissions, transaction charges
or spreads paid by the Trust for effecting portfolio transactions or for selling or redeeming shares other than an interest arising from
the Covered Officer's employment, such as compensation or equity ownership.

**III. Disclosure and Compliance**

&nbsp;&nbsp;&nbsp;&nbsp;· Each Covered Officer should familiarize himself or herself with the disclosure
requirements generally applicable to the Trust;

&nbsp;&nbsp;&nbsp;&nbsp;· Each Covered Officer should not knowingly misrepresent, or cause others to
misrepresent, facts about the Trust to others, whether within or outside the Trust, including to the Trust's trustees and auditors,
and to governmental regulators and self-regulatory organizations;

&nbsp;&nbsp;&nbsp;&nbsp;· Each Covered Officer should, to the extent appropriate within his or her
area of responsibility, consult with other officers and employees of the Trust and the adviser and administrator with the goal of promoting
full, fair, accurate, timely and understandable disclosure in the reports and documents the Trust files with, or submits to, the SEC and
in other public communications made by the Trust; and

&nbsp;&nbsp;&nbsp;&nbsp;· It is the responsibility of each Covered Officer to promote compliance with
the standards and restrictions imposed by applicable laws, rules and regulations.

**IV. Reporting and Accountability**

Each Covered Officer must:

&nbsp;&nbsp;&nbsp;&nbsp;· Upon adoption of the Code (or thereafter as applicable, upon becoming a Covered
Officer), affirm in writing to the Board that he has received, read, and understands the Code;

&nbsp;&nbsp;&nbsp;&nbsp;· Annually thereafter affirm to the Board that he has complied with the requirements
of the Code;

&nbsp;&nbsp;&nbsp;&nbsp;· Not retaliate against any other Covered Officer or any employee of the Trust
or his or her affiliated persons for reports of potential violations that are made in good faith; and

&nbsp;&nbsp;&nbsp;&nbsp;· Notify the Chief Compliance Officer promptly if he or she knows of any violation
of this Code. Failure to do so is itself a violation of this Code.

The Chief Compliance Officer is responsible for applying this Code to specific situations in which questions are presented under it and has the authority to interpret this Code in any particular situation. However, any approvals, interpretations or waivers sought by a Covered Officer will be considered by the Trust's Audit Committee.

The Trust will follow these procedures in investigating and enforcing this Code:

&nbsp;&nbsp;&nbsp;&nbsp;· The Chief Compliance Officer will take all appropriate action to investigate
any potential violations reported to him or her;

&nbsp;&nbsp;&nbsp;&nbsp;· If, after such investigation, the Chief Compliance Officer believes that
no violation has occurred, the Chief Compliance Officer is not required to take any further action;

&nbsp;&nbsp;&nbsp;&nbsp;· Any matter that the Chief Compliance Officer believes is a violation will
be reported to the Audit Committee;

&nbsp;&nbsp;&nbsp;&nbsp;· If the Audit Committee concurs that a violation has occurred, it will inform and make a recommendation to the Board, which will consider
appropriate action, which may include review of, and appropriate modifications to, applicable policies and procedures; notification to
appropriate personnel of the investment adviser or its board; or a recommendation to dismiss the Covered Officer;

&nbsp;&nbsp;&nbsp;&nbsp;· The Audit Committee will be responsible for granting waivers, as appropriate;
and

&nbsp;&nbsp;&nbsp;&nbsp;· Any changes to or waivers of this Code will, to the extent required, be disclosed
as provided by SEC rules.

**V. Other Policies and Procedures**

This Code shall be the sole code of ethics adopted by the Trust for purposes of Section 406 of the Sarbanes-Oxley Act and the rules and forms applicable to registered investment companies thereunder. Insofar as other policies or procedures of the Trust, its adviser, administrator, principal underwriter, or other service providers govern or purport to govern the behavior or activities of the Covered Officers who are subject to this Code, they are superseded by this Code to the extent that they overlap or conflict with the provisions of this Code. The Trust's and its investment adviser's and principal underwriter's codes of ethics under Rule 17j-1 under the Investment Company Act are separate requirements applying to the Covered Officers and others, and are not part of this Code.

VI. Amendments

Any amendments to this Code, other than amendments to <u>Exhibit A</u>, must be in writing and approved or ratified by a majority vote of the Board.

**VII. Confidentiality**

All reports and records prepared or maintained pursuant to this Code will be considered confidential and shall be maintained and protected accordingly. Except as otherwise required by law or this Code, such matters shall not be disclosed to anyone other than the Trust and its investment adviser and counsel.

**VIII. Internal Use**

The Code is intended solely for the internal use by the Trust and does not constitute an admission, by or on behalf of the Trust, as to any fact, circumstance, or legal conclusion.

Causeway Capital Management Trust

Date: July 31, 2003

Amended: November 2, 2015

Amended: December 29, 2017

Amended: August 30, 2019

Amended: October 1, 2020

**<u>Exhibit A</u>**

Persons Covered by this Code of Ethics

President (the Principal Executive Officer of the Trust)

Treasurer (the Senior Financial Officer of the Trust)

Date: July 31, 2003

Revised: August 3, 2005

Revised: November 2, 2015

Revised: December 29, 2017

Revised: August 30, 2019

Revised: October 1, 2020

## Ex-99.Cert

**CERTIFICATION**

**Pursuant to Rule 30a-2(a) under the Investment Company Act of 1940**

**and Section 302 of the Sarbanes-Oxley Act of 2002**

I, Gracie V. Fermelia, certify that:

1. I have reviewed this report on Form N-CSR of the Causeway Capital Management Trust (the "Registrant");

2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to
state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not
misleading with respect to the period covered by this report;

3. Based on my knowledge, the financial statements, and other financial information, included in this report
fairly present in all material respects the financial condition, results of operations, changes in net assets, and cash flows (if the
financial statements are required to include a statement of cash flows) of the Registrant as of, and for, the periods presented in this
report;

4. The Registrant's other certifying officer(s), if any, and I are responsible for establishing and
maintaining disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940) and internal control
over financial reporting (as defined in Rule 30a-3(d) under the Investment Company Act of 1940) for the Registrant and have:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to
be designed under our supervision, to ensure that material information relating to the Registrant, including its consolidated subsidiaries,
is made known to us by others within those entities, particularly during the period in which this report is being prepared;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Designed such internal control over financial reporting, or caused such internal control over financial
reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the
preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) Evaluated the effectiveness of the Registrant's disclosure controls and procedures and presented
in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of a date within 90 days prior to
the filing date of this report, based on such evaluation; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) Disclosed in this report any change in the Registrant's internal control over financial reporting
that occurred during the period covered by this report that has materially affected, or is reasonably likely to materially affect, the
Registrant's internal control over financial reporting; and

5. The Registrant's other certifying officer(s) and I have disclosed to the Registrant's auditors
and the audit committee of the Registrant's board of directors (or persons performing the equivalent functions):

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) All significant deficiencies and material weaknesses in the design or operation of internal control over
financial reporting which are reasonably likely to adversely affect the Registrant's ability to record, process, summarize, and
report financial information; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Any fraud, whether or not material, that involves management or other employees who have a significant
role in the Registrant's internal control over financial reporting.

Date: December 5, 2025

/s/ Gracie V. Fermelia

Gracie V. Fermelia<br> Principal Executive Officer

**CERTIFICATION**

**Pursuant to Rule 30a-2(a) under the Investment Company Act of 1940**

**and Section 302 of the Sarbanes-Oxley Act of 2002**

I, John Bourgeois, certify that:

1. I have reviewed this report on Form N-CSR of the Causeway Capital Management Trust (the "Registrant");

2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to
state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not
misleading with respect to the period covered by this report;

3. Based on my knowledge, the financial statements, and other financial information, included in this report
fairly present in all material respects the financial condition, results of operations, changes in net assets, and cash flows (if the
financial statements are required to include a statement of cash flows) of the Registrant as of, and for, the periods presented in this
report;

4. The Registrant's other certifying officer(s), if any, and I are responsible for establishing and
maintaining disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940) and internal control
over financial reporting (as defined in Rule 30a-3(d) under the Investment Company Act of 1940) for the Registrant and have:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to
be designed under our supervision, to ensure that material information relating to the Registrant, including its consolidated subsidiaries,
is made known to us by others within those entities, particularly during the period in which this report is being prepared;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Designed such internal control over financial reporting, or caused such internal control over financial
reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the
preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) Evaluated the effectiveness of the Registrant's disclosure controls and procedures and presented
in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of a date within 90 days prior to
the filing date of this report, based on such evaluation; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) Disclosed in this report any change in the Registrant's internal control over financial reporting
that occurred during the period covered by this report that has materially affected, or is reasonably likely to materially affect, the
Registrant's internal control over financial reporting; and

5. The Registrant's other certifying officer(s) and I have disclosed to the Registrant's auditors
and the audit committee of the Registrant's board of directors (or persons performing the equivalent functions):

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) All significant deficiencies and material weaknesses in the design or operation of internal control over
financial reporting which are reasonably likely to adversely affect the Registrant's ability to record, process, summarize, and
report financial information; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Any fraud, whether or not material, that involves management or other employees who have a significant
role in the Registrant's internal control over financial reporting.

Date: December 5, 2025

/s/ John Bourgeois

John Bourgeois<br> Principal Financial Officer

## Exhibit 99.906

**CERTIFICATION**

**Pursuant to 18 U.S.C. Section 1350, As Adopted Pursuant to Section 906**

**of the Sarbanes-Oxley Act of 2002**

The undersigned, Gracie V. Fermelia, the Principal Executive Officer of the Causeway Capital Management Trust (the "Fund"), with respect to the Fund's Form N-CSR for the period ended September 30, 2025, as filed with the Securities and Exchange Commission, hereby certifies, pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, that, to the best of my knowledge:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1. such Form N-CSR fully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange
Act of 1934; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2. the information contained in such Form N-CSR fairly presents, in all material respects, the financial
condition and results of operations of the Fund.

Dated: December 5, 2025

---

| |
|:---|
| /s/ Gracie V. Fermelia |
| Gracie V. Fermelia |
| Principal Executive Officer |

---

**CERTIFICATION**

**Pursuant to 18 U.S.C. Section 1350, As Adopted Pursuant to Section 906**

**of the Sarbanes-Oxley Act of 2002**

The undersigned, John Bourgeois, the Principal Financial Officer of the Causeway Capital Management Trust (the "Fund"), with respect to the Fund's Form N-CSR for the period ended September 30, 2025, as filed with the Securities and Exchange Commission, hereby certifies, pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, that, to the best of my knowledge:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1. such Form N-CSR fully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange
Act of 1934; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2. the information contained in such Form N-CSR fairly presents, in all material respects, the financial
condition and results of operations of the Fund.

Dated: December 5, 2025

---

| |
|:---|
| /s/ John Bourgeois |
| John Bourgeois |
| Principal Financial Officer |

---