BRANDES INVESTMENT PARTNERS, LP

Registered adviser

CIK

1015079

Location

LA JOLLA, CA

Portfolio Value

Large $14,288,679,575

Diversification

Diversified

Reports for

Brandes Investment Partners (Asia) Pte. Ltd. Brandes Investment Partners & Co. Brandes Investment Partners (Europe) Ltd.

Filing Date

Global Rank

#439 / 8,821 ▼ 50

Top Industry

Aerospace & Defense 10.2%

Period ended 4 months ago

Filed Aug 14, 2026 · 3mo

26 quarters · since Mar 2020

Regulatory profile

From Form ADV, the SEC filer profile, 13D/13G type codes and N-CEN, never from the name.

Holder type

Registered adviser

Form ADV roster, Nov 1, 2026

Records disagree; the first in precedence decides.

Form ADV adviser

CRD 105404

Roster of Nov 1, 2026

Regulatory AUM

$40,646,678,109

Main clients

Diversified

Private funds

18 funds · Other private funds

Focus by gross assets, Schedule D of Nov 7, 2024

$2,404,455,990 gross assets

Registered funds advised

10 series (0 index, 3 ETFs)

$5,490,940,303 net assets· N-CEN Jun 30, 2026

LEI

254900ZAL6KFUMYYB075

Private funds on Schedule D 7.B.(1)

As filed Nov 7, 2024; SEC's bulk Form ADV archive ends with 2024 filings.

$1,508,200,178 gross assets in 18 funds Other private funds $1,508,200,178 (18)

Form ADV history

Monthly rosters from Dec 2019; each row is a run with the same figures, newest first.

Rosters	Regulatory AUM	Main clients
Apr 2026 to Nov 2026	$40,646,678,109	Diversified
Apr 2025 to Mar 2026	$26,686,881,169	Diversified
Apr 2024 to Mar 2025	$22,214,086,907	Diversified
May 2023 to Mar 2024	$17,530,381,334	Diversified
Apr 2023	$17,530,381,334	Diversified
Apr 2022 to Mar 2023	$20,199,234,840	Diversified

3 earlier changes not shown.

Stated strategy

Fundamental active, Value, Income, Fixed income / rates, Multi-asset, Quantitative / systematic Form ADV Part 2A, Apr 10, 2026 · original

In the firm's words

Fundamental active: we apply fundamental analysis to bottom-up security selection.
Value: By choosing securities that we believe are priced at a discount to our estimate of their actual value, we aim to create a margin of safety.
Income: The Brandes Global Equity Income Strategy seeks current income and long-term capital appreciation by investing primarily in the equity securities of both U.S. and non-U.S. issuers whose equity market capitalizations exceed $3 billion at the time of purchase.
Fixed income / rates: The Brandes Core Plus Fixed Income Strategy seeks long-term returns in excess of its benchmark (the Bloomberg U.S. Aggregate Bond Index) by investing primarily in U.S. government and agency debt, U.S. and non-U.S. corporate debt, mortgage-backed securities (“MBS”) and asset-backed securities (“ABS”).
Multi-asset: The Brandes Global Balanced Strategy seeks long-term capital appreciation and current income by investing primarily in a combination of equity securities and fixed income securities.
Quantitative / systematic: while also being supplemented by risk model and optimization tools to aid in portfolio construction.

Portfolio style

Measured from the filed 13F common-share book for Jun 30, 2026, never from the firm's own description.

Style

Diversified active

Top 10 weight 21.0%, 86.1 effective positions, active share 90.9% against every 13F filer's combined book; it meets none of the index-like, systematic-like or concentrated tests

Turnover

Medium turnover

39.0% over the last four quarters (30% to under 100%)

Horizon

Long horizon

Value-weighted holding period 17.6 quarters (12+), a floor since 44.1% of the book was already held when coverage starts

Closest benchmark: every 13F filer's combined book, active share 90.9%; sector active share 33.9% against the combined 13F book's sector weights.

Over time 26 measured quarters

How the bands are measured

Style bands measure the filed 13F common-share book each closed quarter, tested in this order. Unknown: under $10,000,000 of valued equity or 5 stocks. Index-like (100+ stocks): active share of 20% or less against the closest benchmark, which is the S&P 500, S&P MidCap 400, S&P SmallCap 600, Russell 1000, Russell 2000, Nasdaq-100 or Dow Jones Industrial Average (weighted by an index-tracking fund's reported holdings or the index's constituents nearest the quarter end, over the names resolved to companies, and only when those are 90%+ of its weight) or every 13F filer's combined book, or index series holding 80%+ of the registered fund assets it advises (N-CEN) and equal to 50%+ of its book. Systematic-like: 500+ stocks, 100%+ annual turnover and a top 10 weight of 25% or less. Concentrated: a top 10 weight of 60%+ or 12 or fewer effective positions. Diversified active: none of these. Turnover is the smaller of buys and sells over average equity value, summed over four quarters: low under 30%, high 100%+. Horizon is the value-weighted number of quarters each position has been held: short under 4, long 12+.

Clone Performance

Build a hypothetical price-return history from this filer's public 13F holdings.

View clone backtest

Portfolio Concentration

193 tracked positions · as of Jun 30, 2026 · Δ vs Mar 31, 2026

Top Position

3.2%

+0.3 pts

Top 5

12.2%

+0.7 pts

Top 10

21.0%

+0.1 pts

HHI

116

Diversified−5

Portfolio Trend

26 quarters · across all stocks

Sector Breakdown

As of Jun 30, 2026

Sector	% Portfolio	Value	Positions
Healthcare	21.8%	$3,112,755,256	37
Industrials	20.9%	$2,984,654,184	28
Financial Services	12.4%	$1,769,320,913	28
Technology	11.7%	$1,678,706,606	20
Consumer Defensive	8.2%	$1,178,132,898	19
Communication Services	6.1%	$876,293,625	13
Consumer Cyclical	6.1%	$872,945,452	13
Energy	6.1%	$868,870,263	10
Basic Materials	3.6%	$515,531,583	8
Utilities	1.8%	$256,713,408	4
Unclassified	1.2%	$172,896,883	12
Real Estate	0.0%	$1,858,504	1

Last Quarter's Activity

Export CSV

Jun 30, 2026 vs Mar 31, 2026

Added To

Positions the filer increased

25 positions

Ticker	Company	Δ Shares	Shares	Value
CNH	CNH Industrial N.V.	+19,158,489	21,878,681	$245,697,586
CPB	CAMPBELL'S Co	+6,167,736	6,334,950	$141,079,336
JBS	Jbs N.V.	+4,711,219	7,693,893	$91,172,630
CAE	Cae Inc	+2,522,848	18,397,515	$461,041,724
CAG	Conagra Brands Inc.	+2,198,029	2,346,639	$31,585,760
VIV	Telefonica Brasil S.A.	+1,513,581	3,963,967	$52,165,804
GRFS	Grifols SA	+1,482,571	37,816,285	$267,739,296
PBH	Prestige Consumer Healthcare Inc.	+1,196,941	2,051,060	$96,953,605
OTEX	Open Text Corp	+925,931	13,061,929	$289,321,726
CX	Cemex Sab De CV	+858,998	9,957,989	$119,495,868
SNN	Smith & Nephew PLC	+806,533	2,148,731	$61,904,939
LKQ	Lkq Corp	+675,287	2,303,156	$60,642,095
INGR	Ingredion Inc	+661,262	1,227,467	$116,253,398
NICE	NICE Ltd.	+632,370	2,861,960	$260,009,065
GLOB	Globant S.A.	+575,933	4,000,333	$115,769,636
TAP	Molson Coors Beverage Co	+573,569	2,212,781	$86,209,947
ARLO	Arlo Technologies, Inc.	+534,798	10,753,652	$144,959,227
SMG	Scotts Miracle-Gro Co	+527,013	1,335,820	$90,982,699
SNY	Sanofi	+413,317	4,136,417	$176,459,547
EFX	Equifax Inc	+405,149	1,152,350	$182,900,991
EPC	EDGEWELL PERSONAL CARE Co	+338,754	7,059,831	$189,627,059
EMBJ	Embraer S.A.	+332,274	6,036,219	$385,110,770
FMS	Fresenius Medical Care AG	+305,241	1,916,090	$43,322,794
BABA	Alibaba Group Holding Ltd	+296,102	962,215	$92,353,395
NTES	NetEase, Inc.	+269,088	378,489	$48,499,579
No positions match the current search.

Trimmed

Positions the filer reduced

25 positions

Ticker	Company	Δ Shares	Shares	Value
KMT	Kennametal Inc	−3,479,676	1,785,604	$62,585,418
ABEV	Ambev S.A.	−2,548,766	20,526,907	$64,454,487
PFE	Pfizer Inc	−1,472,419	7,634,806	$183,846,126
HAL	Halliburton Co	−1,311,493	4,979,851	$169,065,940
NTGR	Netgear, Inc.	−1,235,833	1,765,836	$41,232,269
STM	STMicroelectronics N.V.	−1,072,451	26,480	$1,983,087
PBR-A	Petrobras - Petroleo Brasileiro SA	−1,030,758	3,204,870	$46,919,296
INVX	Innovex International, Inc.	−855,970	5,727,445	$142,040,634
CMCSA	Comcast Corp	−803,316	5,626,422	$138,128,658
C	Citigroup Inc	−774,127	1,670,362	$233,783,863
BAC	Bank Of America Corp	−763,355	3,803,522	$216,724,681
SHEL	Shell plc	−625,476	2,127,279	$164,949,211
MTX	Minerals Technologies Inc	−554,920	286,039	$21,158,304
TIGO	Millicom International Cellular SA	−506,977	2,754,039	$249,956,578
CTSH	Cognizant Technology Solutions Corp	−489,655	2,553,185	$98,884,853
FLEX	Flex Ltd.	−466,720	290,395	$47,064,315
WFC	Wells Fargo & Company	−464,359	2,290,534	$189,289,727
TTE	TotalEnergies SE	−420,548	273,309	$21,252,507
MRK	Merck & Co., Inc.	−391,615	1,910,947	$245,556,688
MU	Micron Technology Inc	−388,315	3,477	$4,013,466
BNY	Bank of New York Mellon Corp	−370,418	4,587	$663,326
TXT	Textron Inc	−318,961	2,521,792	$231,323,978
FISV	Fiserv Inc	−310,585	1,616,446	$79,286,673
EVRG	Evergy, Inc.	−296,367	890,004	$76,923,044
CVS	CVS HEALTH Corp	−295,482	1,674,319	$173,208,299
No positions match the current search.

New Positions

Positions the filer opened this quarter

18 positions

Ticker	Company	Shares	Value
ZTS	Zoetis Inc.	1,930,651	$138,736,578
COF	Capital One Financial Corp	285,259	$57,228,660
VEA	Vanguard FTSE Developed Markets ETF	651,601	$46,426,571
UWMC	UWM Holdings Corp	10,471,859	$23,980,557
ACWI	iShares MSCI ACWI ETF	120,150	$18,859,945
IUSV	iShares Core S&P U.S. Value ETF	153,901	$16,952,195
FBIN	Fortune Brands Innovations, Inc.	96,919	$5,320,853
BRO	Brown & Brown, Inc.	62,114	$3,984,613
VWO	VANGUARD EMERGING MARKETS STOCK INDEX FUND	59,946	$3,578,176
COO	Cooper Companies, Inc.	47,938	$3,437,633
ZBRA	Zebra Technologies Corp	11,794	$3,104,888
EFA	iShares MSCI EAFE ETF	28,572	$2,968,059
MAT	Mattel Inc	192,399	$2,670,498
IWB	iShares Russell 1000 ETF	2,428	$994,266
FDXF	FedEx Freight Holding Company, Inc.	3,481	$525,631
VEU	Vanguard International Equity Index Funds	3,376	$282,740
EEM	iShares MSCI Emerging Markets ETF	3,509	$240,050
E	Eni Spa	4,660	$218,367
No positions match the current search.

Sold Out

Positions the filer fully exited

11 positions

Ticker	Company	Shares	Value
NTR	Nutrien Ltd.	943,685	$71,210,469
WAT	Waters Corp	69,454	$20,683,399
MOV	Movado Group Inc	739,192	$18,051,068
NKSH	National Bankshares Inc	193,422	$7,042,495
NPK	National Presto Industries Inc	40,208	$5,510,908
HTLD	Heartland Express Inc	276,427	$2,874,840
ZTO	ZTO Express (Cayman) Inc.	88,827	$2,235,775
EBMT	Eagle Bancorp Montana, Inc.	64,963	$1,336,938
—		23,092	$971,019
VTV	VANGUARD VALUE INDEX FUND	1,547	$303,521
NWG	NatWest Group plc	12,878	$191,882
No positions match the current search.

Portfolio Positions

Compact Export CSV View 13F filing

193 tracked positions · $14,288,679,575 total · filing declares 472 positions · $14,264,854,892 · as of Jun 30, 2026

All sectors Basic Materials Communication Services Consumer Cyclical Consumer Defensive Energy Financial Services Healthcare Industrials Real Estate Technology Utilities

Showing 1–50 of 193 positions by value · page 1 of 4

Ticker	Company	Type	Shares	Δ Shares	Value (USD)	% Δ Value	Held (qtrs)	Est. cost/share	% of Portfolio
CAE	Cae Inc Industrials	Added	18,397,515	+2,522,848	$461,041,724	+11.5%	17	$21.01	3.23%
EMBJ	Embraer S.A. Industrials	Added	6,036,219	+332,274	$385,110,770	+13.8%	26+	before history	2.70%
MHK	Mohawk Industries Inc Consumer Cyclical	Added	2,797,526	+179,104	$339,423,827	+31.7%	26+	before history	2.38%
OTEX	Open Text Corp Technology	Added	13,061,929	+925,931	$289,321,726	+7.2%	20	$28.71	2.02%
GRFS	Grifols SA Healthcare	Added	37,816,285	+1,482,571	$267,739,296	−8.1%	23	$9.33	1.87%
NICE	NICE Ltd. Technology	Added	2,861,960	+632,370	$260,009,065	+5.8%	3	$112.02	1.82%
BDX	Becton Dickinson & Co Healthcare	Added	1,671,540	+155,936	$252,954,145	+6.2%	5	$145.33	1.77%
TIGO	Millicom International Cellular SA Communication Services	Reduced	2,754,039	-506,977	$249,956,578	+2.3%	17	$20.62	1.75%
CNH	CNH Industrial N.V. Industrials	Added	21,878,681	+19,158,489	$245,697,586	+721.1%	9	$10.65	1.72%
MRK	Merck & Co., Inc. Healthcare	Reduced	1,910,947	-391,615	$245,556,688	−11.3%	26+	before history	1.72%
C	Citigroup Inc Financial Services	Reduced	1,670,362	-774,127	$233,783,863	−15.7%	26+	before history	1.64%
CI	Cigna Group Healthcare	Reduced	843,317	-165,552	$232,485,628	−13.6%	26+	before history	1.63%
DOX	Amdocs Ltd Technology	Reduced	4,581,633	-73,454	$231,555,730	−23.8%	26+	before history	1.62%
TXT	Textron Inc Industrials	Reduced	2,521,792	-318,961	$231,323,978	−7.0%	26+	before history	1.62%
BAC	Bank Of America Corp Financial Services	Reduced	3,803,522	-763,355	$216,724,681	−2.7%	26+	before history	1.52%
HXL	Hexcel Corp Industrials	Reduced	2,134,549	-99,776	$213,582,971	+18.1%	8	$59.32	1.49%
ICLR	Icon PLC Healthcare	Reduced	1,185,774	-249,279	$205,980,800	+29.7%	5	$149.72	1.44%
EPC	EDGEWELL PERSONAL CARE Co Consumer Defensive	Added	7,059,831	+338,754	$189,627,059	+32.2%	26+	before history	1.33%
WFC	Wells Fargo & Company Financial Services	Reduced	2,290,534	-464,359	$189,289,727	−13.7%	26+	before history	1.32%
AJG	Arthur J. Gallagher & Co. Financial Services	Added	813,014	+111,754	$186,643,622	+22.9%	2	$228.41	1.31%
PFE	Pfizer Inc Healthcare	Reduced	7,634,806	-1,472,419	$183,846,126	−28.1%	26+	before history	1.29%
EFX	Equifax Inc Industrials	Added	1,152,350	+405,149	$182,900,991	+35.9%	2	$188.71	1.28%
SNY	Sanofi Healthcare	Added	4,136,417	+413,317	$176,459,547	−1.6%	26+	before history	1.23%
UNH	Unitedhealth Group Inc Healthcare	Reduced	424,159	-197,725	$176,293,203	+4.8%	6	$340.96	1.23%
FDX	Fedex Corp Industrials	Reduced	561,978	-144,489	$175,972,169	−30.1%	26+	before history	1.23%
CVS	CVS HEALTH Corp Healthcare	Reduced	1,674,319	-295,482	$173,208,299	+22.4%	26+	before history	1.21%
PGR	Progressive Corp Financial Services	Reduced	789,561	-79,127	$172,479,598	+0.2%	3	$219.87	1.21%
HAL	Halliburton Co Energy	Reduced	4,979,851	-1,311,493	$169,065,940	−31.1%	26+	before history	1.18%
PNC	Pnc Financial Services Group, Inc. Financial Services	Reduced	677,618	-136,382	$166,843,102	−1.5%	26+	before history	1.17%
SHEL	Shell plc Energy	Reduced	2,127,279	-625,476	$164,949,211	−35.6%	18	$63.65	1.15%
ACGL	Arch Capital Group Ltd. Financial Services	Reduced	1,518,218	-254,154	$147,358,237	−13.4%	9	$96.59	1.03%
ARLO	Arlo Technologies, Inc. Industrials	Added	10,753,652	+534,798	$144,959,227	−0.3%	26+	before history	1.01%
WKC	World Kinect Corp Energy	Added	4,399,303	+109,463	$144,913,039	+46.4%	26+	before history	1.01%
INVX	Innovex International, Inc. Energy	Reduced	5,727,445	-855,970	$142,040,634	−11.5%	8	$15.83	0.99%
CPB	CAMPBELL'S Co Consumer Defensive	Added	6,334,950	+6,167,736	$141,079,336	+3688.5%	11	$21.36	0.99%
ZTS	Zoetis Inc. Healthcare	NEW	1,930,651	NEW	$138,736,578	NEW	1	$94.14	0.97%
CMCSA	Comcast Corp Communication Services	Reduced	5,626,422	-803,316	$138,128,658	−25.2%	26+	before history	0.97%
GHM	Graham Corp Industrials	Reduced	1,079,699	-91,282	$133,655,938	+44.6%	26+	before history	0.94%
HCA	HCA Healthcare, Inc. Healthcare	Reduced	311,035	-32,189	$121,269,434	−25.3%	26+	before history	0.85%
CPA	Copa Holdings, S.A. Industrials	Added	769,630	+33,402	$119,731,338	+43.1%	26+	before history	0.84%
CX	Cemex Sab De CV Basic Materials	Added	9,957,989	+858,998	$119,495,868	+14.8%	26+	before history	0.84%
EMR	Emerson Electric Co Industrials	Reduced	813,136	-140,370	$116,400,417	−6.8%	26+	before history	0.81%
INGR	Ingredion Inc Consumer Defensive	Added	1,227,467	+661,262	$116,253,398	+82.2%	26+	before history	0.81%
GLOB	Globant S.A. Technology	Added	4,000,333	+575,933	$115,769,636	−26.7%	4	$63.83	0.81%
WLK	Westlake Corp Basic Materials	Reduced	1,572,939	-269,711	$114,824,547	−46.7%	6	$89.22	0.80%
IMKTA	Ingles Markets Inc Consumer Defensive	Added	1,260,027	+7,743	$111,613,191	−0.8%	14	$69.15	0.78%
NGG	National Grid PLC Utilities	Added	1,345,982	+33,971	$111,541,526	+0.5%	3	$80.14	0.78%
MCK	Mckesson Corp Healthcare	Reduced	140,534	-31,953	$106,187,489	−28.9%	26+	before history	0.74%
GOOG	Alphabet Inc. Communication Services	Added	296,414	+2,837	$104,731,957	+24.4%	26+	before history	0.73%
PZZA	Papa Johns International Inc Consumer Cyclical	Added	2,730,683	+97,879	$100,407,213	+17.7%	6	$35.65	0.70%

Showing the top 50 of 193 positions. Create a free account to see every position, past quarters, search, filters and CSV export.

Covers the securities this platform tracks: U.S.-listed common stock and the put/call positions reported on it. A 13F can also report security types outside that coverage — preferred shares, bonds, warrants, untracked share classes — so the filing's own declared total can exceed the figures above. The source filing is linked at the top of this table.