BRANDES INVESTMENT PARTNERS, LP

CIK

1015079

Location

LA JOLLA, CA

Portfolio Value

Large $13,901,886,030

Diversification

Diversified

Filing Date

Global Rank

#342 / 8,607 ▲ 32 · as of Mar 2026

Top Industry

Aerospace & Defense 9.8%

3Y Alpha vs SPY

+1.0%

Period ended 3 months ago

Filed May 15, 2026 · 57d

25 quarters · since Mar 2020

Clone Performance

Jul 2023–Jul 2026 · vs SPY

Hypothetical growth of cloning every reported 13F position and rebalancing on each filing, indexed to the same start.

Cloned portfolio

+79.3%

SPY

+76.7%

Annualised alpha

+0.6%

Max drawdown

−14.7%

Estimate. 13F holdings are quarter-lagged and long-only, so the clone rebalances about 45 days after each period end — when the filing becomes public — and excludes options and short positions. Past performance does not predict future results.

Portfolio Concentration

179 positions · as of Mar 31, 2026 · Δ vs Dec 31, 2025

Top Position

3.0%

−0.6 pts

Top 5

11.7%

−1.3 pts

Top 10

21.3%

−1.9 pts

HHI

122

Diversified−7

Portfolio Trend

25 quarters · across all stocks

Sector Breakdown

As of Mar 31, 2026

Sector	% Portfolio	Value	Positions
Healthcare	21.8%	$3,033,542,348	36
Industrials	19.4%	$2,693,976,835	29
Technology	14.6%	$2,024,696,293	19
Financial Services	12.7%	$1,770,505,952	28
Energy	7.4%	$1,031,761,313	8
Consumer Defensive	5.8%	$800,513,498	18
Communication Services	5.6%	$779,621,375	12
Consumer Cyclical	5.2%	$726,277,417	14
Basic Materials	4.7%	$658,188,983	9
Utilities	2.0%	$273,515,870	4
Unclassified	0.8%	$107,528,328	1
Real Estate	0.0%	$1,757,818	1

Last Quarter's Activity

Export CSV

Mar 31, 2026 vs Dec 31, 2025

Added To

Positions the filer increased

25 positions

Ticker	Company	Δ Shares	Shares	Value
GRFS	Grifols SA	+5,379,491	36,333,714	$291,396,384
OTEX	Open Text Corp	+3,029,841	12,135,998	$269,904,594
PZZA	Papa Johns International Inc	+2,261,395	2,632,804	$85,329,176
ARLO	Arlo Technologies, Inc.	+2,020,147	10,218,854	$145,414,291
DOX	Amdocs Ltd	+1,940,122	4,655,087	$303,790,975
TAP	Molson Coors Beverage Co	+1,531,733	1,639,212	$70,584,467
NICE	NICE Ltd.	+1,522,382	2,229,590	$245,834,592
MHK	Mohawk Industries Inc	+1,515,848	2,618,422	$257,809,828
JBS	Jbs N.V.	+1,303,838	2,982,674	$53,568,823
NTGR	Netgear, Inc.	+1,146,114	3,001,669	$65,556,450
GLOB	Globant S.A.	+1,023,668	3,424,400	$157,899,081
TCOM	Trip.com Group Ltd	+838,012	867,912	$43,213,337
SNY	Sanofi	+809,844	3,723,100	$179,378,956
ENIC	Enel Chile S.A.	+739,159	6,009,907	$23,679,033
CTSH	Cognizant Technology Solutions Corp	+720,410	3,042,840	$186,678,231
CAE	Cae Inc	+716,679	15,874,667	$413,535,073
ICLR	Icon PLC	+658,321	1,435,053	$158,802,963
EPC	EDGEWELL PERSONAL CARE Co	+601,578	6,721,077	$143,427,782
TAK	Takeda Pharmaceutical Co Ltd	+548,760	4,430,642	$82,055,489
EMBJ	Embraer S.A.	+548,206	5,703,945	$338,472,094
AOUT	American Outdoor Brands, Inc.	+541,285	2,428,930	$22,686,206
NGG	National Grid PLC	+531,537	1,312,011	$110,996,129
PFE	Pfizer Inc	+478,043	9,107,225	$255,730,876
ABEV	Ambev S.A.	+475,549	23,075,673	$67,380,964
WKC	World Kinect Corp	+444,090	4,289,840	$98,966,607
No positions match the current search.

Trimmed

Positions the filer reduced

25 positions

Ticker	Company	Δ Shares	Shares	Value
KMT	Kennametal Inc	−4,965,772	5,265,280	$190,234,565
CX	Cemex Sab De CV	−3,753,325	9,098,991	$104,092,456
TIGO	Millicom International Cellular SA	−1,575,489	3,261,016	$244,380,537
ELAN	Elanco Animal Health Inc	−1,422,956	2,778,908	$66,499,267
CTVA	Corteva, Inc.	−1,416,962	895,553	$74,966,740
HAL	Halliburton Co	−1,257,586	6,291,344	$245,299,501
INVX	Innovex International, Inc.	−1,072,795	6,583,415	$160,569,490
SEE	SEALED AIR CORP/DE	−1,067,584	23,092	$971,018
NTR	Nutrien Ltd.	−915,583	943,685	$71,210,469
CAH	Cardinal Health Inc	−523,985	257,924	$54,501,918
NWG	NatWest Group plc	−483,688	12,878	$191,882
STM	STMicroelectronics N.V.	−468,034	1,098,931	$37,968,066
TKR	Timken Co	−413,979	253,187	$25,463,016
PKE	Park Aerospace Corp	−409,074	2,782,337	$76,180,386
EBMT	Eagle Bancorp Montana, Inc.	−348,925	64,963	$1,336,938
WRB	Berkley W R Corp	−304,775	513,217	$34,016,021
LKQ	Lkq Corp	−272,251	1,627,869	$47,810,510
HXL	Hexcel Corp /De/	−271,743	2,234,325	$180,823,920
GSK	GSK plc	−271,574	1,453,002	$80,191,180
HCSG	Healthcare Services Group Inc	−246,716	458,556	$8,506,213
MU	Micron Technology Inc	−199,531	391,792	$132,363,007
MRK	Merck & Co., Inc.	−164,963	2,302,562	$276,975,181
JNJ	Johnson & Johnson	−139,502	279,660	$68,360,088
TTE	TotalEnergies SE	−134,375	693,857	$63,127,109
CVX	Chevron Corp	−101,444	483,160	$99,965,802
No positions match the current search.

New Positions

Positions the filer opened this quarter

10 positions

Ticker	Company	Shares	Value
AJG	Arthur J. Gallagher & Co.	701,260	$151,878,887
EFX	Equifax Inc	747,201	$134,548,482
LW	Lamb Weston Holdings, Inc.	942,284	$39,820,921
FMS	Fresenius Medical Care AG	1,610,849	$36,340,753
WAT	Waters Corp /De/	69,454	$20,683,399
NTES	NetEase, Inc.	109,401	$12,246,347
TFX	Teleflex Inc	33,109	$3,960,167
TSN	Tyson Foods, Inc.	51,203	$3,280,576
TRU	TransUnion	34,305	$2,373,562
CAG	Conagra Brands Inc.	148,610	$2,336,149
No positions match the current search.

Sold Out

Positions the filer fully exited

10 positions

Ticker	Company	Shares	Value
GIL	Gildan Activewear Inc.	1,598,946	$99,870,165
UWMC	UWM Holdings Corp	10,471,859	$45,866,742
GTES	Gates Industrial Corp plc	1,130,476	$24,271,318
E	Eni Spa	410,556	$15,576,494
HOLX	HOLOGIC INC	44,864	$3,341,919
SEB	Seaboard Corp /De/	463	$2,057,951
HSBC	Hsbc Holdings PLC	10,175	$800,467
AIG	American International Group, Inc.	4,552	$389,423
GTE	Gran Tierra Energy Inc.	63,869	$270,804
RTO	Rentokil Initial PLC /Fi	7,054	$207,810
No positions match the current search.

Portfolio Positions

Compact Export CSV View 13F filing

179 positions · $13,901,886,030 total · as of Mar 31, 2026

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

Showing 1–50 of 179 positions by value · page 1 of 4

Ticker	Company	Type	Shares	Δ Shares	Value (USD)	% Δ Value	% of Portfolio
CAE	Cae Inc Industrials	Added	15,874,667	+716,679	$413,535,073	−10.3%	2.97%
EMBJ	Embraer S.A. Industrials	Added	5,703,945	+548,206	$338,472,094	+2.0%	2.43%
DOX	Amdocs Ltd Technology	Added	4,655,087	+1,940,122	$303,790,975	+39.0%	2.19%
GRFS	Grifols SA Healthcare	Reduced	36,333,714	-18,073,938	$291,396,384	−42.7%	2.10%
C	Citigroup Inc Financial Services	Added	2,444,489	+83,457	$277,229,495	+0.6%	1.99%
MRK	Merck & Co., Inc. Healthcare	Reduced	2,302,562	-164,963	$276,975,181	+6.6%	1.99%
OTEX	Open Text Corp Technology	Added	12,135,998	+3,029,841	$269,904,594	−9.0%	1.94%
CI	Cigna Group Healthcare	Added	1,008,869	+64,607	$269,115,804	+3.6%	1.94%
MHK	Mohawk Industries Inc Consumer Cyclical	Added	2,618,422	+1,515,848	$257,809,828	+113.9%	1.85%
SHEL	Shell plc Energy	Added	2,752,755	+135,338	$256,006,215	+33.1%	1.84%
PFE	Pfizer Inc Healthcare	Added	9,107,225	+478,043	$255,730,876	+19.0%	1.84%
TXT	Textron Inc Industrials	Added	2,840,753	+105,706	$248,736,330	+4.3%	1.79%
NICE	NICE Ltd. Technology	Added	2,229,590	+1,522,382	$245,834,592	+207.5%	1.77%
HAL	Halliburton Co Energy	Reduced	6,291,344	-1,257,586	$245,299,501	+15.0%	1.76%
TIGO	Millicom International Cellular SA Communication Services	Reduced	3,261,016	-1,575,489	$244,380,537	−8.9%	1.76%
BDX	Becton Dickinson & Co Healthcare	Added	1,515,604	+285,897	$238,298,414	+27.0%	1.71%
BAC	Bank Of America Corp /De/ Financial Services	Added	4,566,877	+180,675	$222,635,252	−7.7%	1.60%
WFC	Wells Fargo & Company/Mn Financial Services	Added	2,754,893	+125,746	$219,317,029	−10.5%	1.58%
WLK	Westlake Corp Basic Materials	Added	1,842,650	+172,323	$215,258,371	+74.3%	1.55%
FDX	Fedex Corp Industrials	Reduced	706,467	-16,814	$202,763,445	+20.4%	1.46%
KMT	Kennametal Inc Industrials	Reduced	5,265,280	-4,965,772	$190,234,565	−34.6%	1.37%
CTSH	Cognizant Technology Solutions Corp Technology	Added	3,042,840	+720,410	$186,678,231	−3.2%	1.34%
CMCSA	Comcast Corp Communication Services	Added	6,429,738	+435,317	$184,597,776	+9.9%	1.33%
HXL	Hexcel Corp /De/ Industrials	Reduced	2,234,325	-271,743	$180,823,920	−2.4%	1.30%
EPAM	EPAM Systems, Inc. Technology	Added	1,325,054	+341,224	$179,412,310	−11.0%	1.29%
SNY	Sanofi Healthcare	Added	3,723,100	+809,844	$179,378,956	+27.1%	1.29%
PGR	Progressive Corp/Oh/ Financial Services	Added	868,688	+266,412	$172,208,708	+25.6%	1.24%
ACGL	Arch Capital Group Ltd. Financial Services	Added	1,772,372	+61,807	$170,129,986	+3.7%	1.22%
PNC	Pnc Financial Services Group, Inc. Financial Services	Added	814,000	+16,173	$169,385,259	+1.7%	1.22%
UNH	Unitedhealth Group Inc Healthcare	Added	621,884	+221,821	$168,275,589	+27.4%	1.21%
HCA	HCA Healthcare, Inc. Healthcare	Reduced	343,224	-43,607	$162,427,324	−10.1%	1.17%
INVX	Innovex International, Inc. Energy	Reduced	6,583,415	-1,072,795	$160,569,490	−4.1%	1.16%
ICLR	Icon PLC Healthcare	Added	1,435,053	+658,321	$158,802,963	+12.2%	1.14%
GLOB	Globant S.A. Technology	Added	3,424,400	+1,023,668	$157,899,081	+0.6%	1.14%
AJG	Arthur J. Gallagher & Co. Financial Services	NEW	701,260	NEW	$151,878,887	NEW	1.09%
MCK	Mckesson Corp Healthcare	Reduced	172,487	-15,878	$149,263,348	−3.4%	1.07%
ARLO	Arlo Technologies, Inc. Industrials	Added	10,218,854	+2,020,147	$145,414,291	+26.8%	1.05%
EPC	EDGEWELL PERSONAL CARE Co Consumer Defensive	Added	6,721,077	+601,578	$143,427,782	+37.5%	1.03%
CVS	CVS HEALTH Corp Healthcare	Added	1,969,801	+124,459	$141,471,106	−3.4%	1.02%
EFX	Equifax Inc Industrials	NEW	747,201	NEW	$134,548,482	NEW	0.97%
MU	Micron Technology Inc Technology	Reduced	391,792	-199,531	$132,363,007	−21.6%	0.95%
EMR	Emerson Electric Co Industrials	Added	953,506	+45,424	$124,928,355	+3.7%	0.90%
IMKTA	Ingles Markets Inc Consumer Defensive	Added	1,252,284	+45,638	$112,567,807	+36.1%	0.81%
NGG	National Grid PLC Utilities	Added	1,312,011	+531,537	$110,996,129	+83.9%	0.80%
FISV	Fiserv Inc	Added	1,927,031	+121,469	$107,528,328	−11.3%	0.77%
SLB	Slb Limited/Nv Energy	Added	2,042,013	+98,252	$104,939,046	+40.7%	0.75%
CX	Cemex Sab De CV Basic Materials	Reduced	9,098,991	-3,753,325	$104,092,456	−29.5%	0.75%
GOOGL	Alphabet Inc. Communication Services	Added	353,899	+18,479	$101,767,194	−3.1%	0.73%
CVX	Chevron Corp Energy	Reduced	483,160	-101,444	$99,965,802	+12.2%	0.72%
WKC	World Kinect Corp Energy	Added	4,289,840	+444,090	$98,966,607	+9.8%	0.71%