Brandes Investment Partners, LP
In its 13F for Q2 2024 (holdings as of June 30, 2024, filed August 19, 2024), Brandes Investment Partners, LP reported 187 stock positions worth $8.1 billion. Its top holding was Embraer SA-Spon ADR (EMBJ) at 3.9% of the portfolio, followed by Wells Fargo (WFC, 2.8%) and Bank of America (BAC, 2.7%). Compared with Q1 2024, it opened 9 new positions, sold out of 7, added to 123 and reduced 53. The biggest buy was Cae (CAE, shares +104%) and the biggest sale Embraer SA-Spon ADR (EMBJ, shares −22%).
- Most Recent 13F
- Q2 2026
- Location
- LA JOLLA, CA
- CIK
- 0001015079
- Portfolio Value
- $8.1B (Q2 2024)
- SEC Filing
- 0001041062-24-000136 ↗ filed Aug 19, 2024
Holdings Value
Holdings 187 stocks · $8.1B
| EMBJ Embraer SA-Spon ADR | 3.93% | 12,268,752 | $319.3M | Reduce -21.8% |
| WFC Wells Fargo & Co. | 2.85% | 3,903,281 | $231.3M | Reduce -12.3% |
| BAC Bank of America Corp. filed as BANK AMERICA CORP | 2.68% | 5,485,023 | $217.9M | Add +8.4% |
| CAE Cae Inc. | 2.54% | 11,071,485 | $206.0M | Add +103.8% |
| C Citigroup Inc. | 2.39% | 3,068,543 | $194.3M | Add +8.2% |
| CMCSA Comcast Corp. Class A | 2.37% | 4,931,630 | $192.8M | Add +16.6% |
| FISV Fiserv Inc. | 2.23% | 1,213,309 | $180.8M | Add +10.3% |
| FDX FedEx Corp. | 2.20% | 596,814 | $178.8M | Add +9.7% |
| DOX Amdocs Ltd. | 2.20% | 2,260,811 | $178.3M | Add +31.1% |
| CI The Cigna Group | 2.08% | 510,970 | $169.0M | Add +8.9% |
| MRK Merck & Co. Inc. | 2.08% | 1,359,766 | $168.9M | Add +10.3% |
| MCK McKesson Corp. | 2.05% | 284,470 | $166.3M | Reduce -2.4% |
| WTW Willis Towers Watson PLC | 1.93% | 598,631 | $157.0M | Add +10.4% |
| PFE Pfizer Inc. | 1.92% | 5,573,282 | $155.9M | Add +10.2% |
| CTVA Corteva Inc. | 1.90% | 2,868,735 | $154.7M | Add +10.2% |
| CVX Chevron Corp. | 1.90% | 988,673 | $154.6M | Add +14.0% |
| CTSH Cognizant Tech Solutions-A | 1.83% | 2,191,388 | $149.0M | Add +56.1% |
| HAL Halliburton Co. | 1.78% | 4,279,478 | $144.5M | Add +15.1% |
| PNC PNC Financial Services Group | 1.72% | 901,415 | $140.0M | Add +10.0% |
| TXT Textron Inc. | 1.64% | 1,549,551 | $133.1M | Add +20.1% |
| CAH Cardinal Health Inc. | 1.59% | 1,315,316 | $129.4M | Add +10.1% |
| BNY Bank of New York Mellon Corp. filed as BANK NEW YORK MELLON CORP | 1.53% | 2,071,865 | $124.0M | Add +8.4% |
| MU Micron Technology Inc. | 1.46% | 901,550 | $118.6M | Reduce -24.1% |
| AIG American International Group | 1.46% | 1,594,563 | $118.5M | Reduce -8.3% |
| HCA HCA Healthcare Inc. | 1.46% | 366,591 | $118.3M | Add +6.9% |
| GRFS Grifols SA-ADR | 1.44% | 18,596,790 | $117.2M | Add +8.7% |
| MHK Mohawk Industries Inc. | 1.42% | 1,015,640 | $115.1M | Add +10.5% |
| TIGO Millicom Intl Cellular S.A. | 1.36% | 4,509,438 | $110.6M | Reduce -1.3% |
| EMR Emerson Electric Co. | 1.29% | 953,477 | $104.9M | Add +9.4% |
| SHEL Shell PLC-ADR | 1.28% | 1,447,449 | $104.3M | Add +0.7% |
| SNY Sanofi-ADR | 1.26% | 2,122,748 | $102.7M | Add +8.4% |
| LH Labcorp Holdings Inc. | 1.24% | 494,068 | $100.6M | Add +25.4% |
| CVS CVS Health Corp. | 1.20% | 1,653,045 | $97.6M | Add +8.3% |
| OMF Onemain Holdings Inc. | 1.14% | 1,912,031 | $92.7M | Reduce -8.9% |
| GOOG Alphabet Inc. Class C | 1.06% | 470,768 | $86.4M | Add +17.7% |
| CX Cemex Sab-Spons ADR Part Cer | 1.02% | 12,967,695 | $82.8M | Reduce -6.3% |
| STT State Street Corp. | 0.97% | 1,069,556 | $79.1M | Add +9.6% |
| WKC World Kinect Corp. | 0.94% | 2,972,932 | $76.7M | Add +10.6% |
| TSM Taiwan Semiconductor-SP ADR | 0.94% | 439,899 | $76.1M | Reduce -2.3% |
| GOOGL Alphabet Inc. Class A | 0.93% | 414,107 | $75.5M | Add +3.3% |
| DRIL-QUIP INC | 0.85% | 3,732,716 | $69.4M | Add +29.6% |
| ARLO Arlo Technologies Inc. | 0.82% | 5,140,826 | $67.0M | Add +1.1% |
| EPC Edgewell Personal Care Co. | 0.76% | 1,529,647 | $61.5M | Add +19.8% |
| FLEX Flex Ltd. | 0.75% | 2,055,170 | $60.6M | Add +8.3% |
| NTGR Netgear Inc. | 0.73% | 3,896,492 | $59.2M | Add +6.8% |
| JPM JPMorgan Chase & Co. | 0.73% | 291,837 | $59.0M | Reduce -18.3% |
| OMC Omnicom Group | 0.72% | 651,790 | $58.4M | Add +20.6% |
| FTRE Fortrea Holdings Inc. | 0.70% | 2,438,159 | $56.8M | Add +27.1% |
| OTEX Open Text Corp. | 0.68% | 1,834,835 | $55.1M | Add +236.8% |
| WRB WR Berkley Corp. filed as BERKLEY W R CORP | 0.68% | 699,387 | $55.0M | Add +18.6% |
| KMT Kennametal Inc. | 0.67% | 2,332,993 | $54.8M | Add +35.1% |
| BABA Alibaba Group Holding-SP ADR | 0.63% | 711,054 | $51.3M | Add +4.8% |
| UBS UBS Group AG-Reg | 0.63% | 1,734,460 | $51.2M | Reduce -7.2% |
| AZO AutoZone Inc. | 0.63% | 17,174 | $50.9M | Add +18.3% |
| ZTO Zto Express Cayman Inc.-ADR | 0.62% | 2,432,865 | $50.5M | Reduce -0.7% |
| SAP Sap SE-Sponsored ADR | 0.62% | 249,857 | $50.3M | Reduce -8.9% |
| INGR Ingredion Inc. | 0.61% | 431,339 | $49.5M | Add +21.3% |
| MOG.A Moog Inc. Class A | 0.61% | 296,162 | $49.4M | Add +3.6% |
| ACGL Arch Capital Group Ltd. | 0.59% | 476,907 | $48.1M | New |
| JNJ Johnson & Johnson | 0.58% | 324,566 | $47.4M | Add +17.1% |
| SSNC Ss&c Technologies Holdings | 0.58% | 748,324 | $46.9M | Add +37.0% |
| GSK GSK PLC-Spon ADR | 0.54% | 1,145,512 | $44.2M | Add +5.6% |
| CPA Copa Holdings SA Class A | 0.54% | 456,726 | $43.5M | Reduce -0.3% |
| ELAN Elanco Animal Health Inc. | 0.52% | 2,945,967 | $42.4M | Add +1.3% |
| FOX Fox Corp. Class B | 0.50% | 1,273,492 | $40.8M | Add +21.6% |
| PAHC Phibro Animal Health Corp. Class A | 0.50% | 2,405,629 | $40.5M | Add +1.2% |
| JCI Johnson Controls Internation | 0.48% | 587,528 | $39.1M | Reduce -0.5% |
| TTE Totalenergies SE -Spon ADR | 0.44% | 533,409 | $35.5M | Reduce -1.6% |
| TAK Takeda Pharmaceutic-SP ADR | 0.42% | 2,635,027 | $34.0M | Reduce -9.2% |
| SNN Smith & Nephew PLC -Spon ADR | 0.42% | 1,373,051 | $34.0M | Add +20.5% |
| GTES Gates Industrial Corp. UK Ltd. | 0.40% | 2,054,854 | $32.5M | Add +19.4% |
| ABEV Ambev SA-ADR | 0.39% | 15,456,266 | $32.0M | Add +23.9% |
| ETR Entergy Corp. | 0.39% | 299,260 | $32.0M | New |
| QRVO Qorvo Inc. | 0.38% | 269,776 | $31.3M | Add +19.0% |
| PBR.A Petroleo Brasil-SP Pref ADR | 0.38% | 2,274,624 | $31.1M | Add +1.0% |
| PHG Koninklijke Philips NVR- NY | 0.38% | 1,212,374 | $30.9M | Reduce -12.2% |
| GHM Graham Corp. | 0.37% | 1,076,746 | $30.3M | Reduce -10.8% |
| KNX Knight-Swift Transportation | 0.37% | 606,855 | $30.3M | New |
| WPP WPP PLC-Sponsored ADR | 0.37% | 652,269 | $30.2M | Add +7.0% |
| KVUE Kenvue Inc. | 0.36% | 1,615,904 | $29.4M | Add +3620.9% |
| PKE Park Aerospace Corp. | 0.36% | 2,150,573 | $29.3M | Add +12.0% |
| BRK.B Berkshire Hathaway Inc. Class B | 0.36% | 70,970 | $28.9M | Reduce -24.8% |
| TFC Truist Financial Corp. | 0.35% | 727,013 | $28.2M | Add +19.8% |
| CSCO Cisco Systems Inc. | 0.33% | 559,483 | $26.6M | Add +22.5% |
| ORN Orion Group Holdings Inc. | 0.32% | 2,753,099 | $26.2M | Reduce -8.5% |
| NVS Novartis AG-Sponsored ADR | 0.29% | 224,224 | $23.9M | Add +4.8% |
| HBI Hanesbrands Inc. | 0.29% | 4,834,202 | $23.8M | Add +3.9% |
| IXUS iShares Core Intl Stock ETF | 0.26% | 315,799 | $21.3M | New |
| AVDL Avadel Pharmaceuticals Ltd. | 0.26% | 1,483,439 | $20.9M | Add +1.4% |
| AMX America Movil Sab DE CV | 0.25% | 1,213,424 | $20.5M | Add +2.8% |
| VIV Telefonica Brasil-ADR | 0.22% | 2,206,334 | $18.3M | Add +14.3% |
| SHG Shinhan Financial Group-ADR | 0.22% | 522,440 | $18.0M | Reduce -0.3% |
| E Eni SPA-Sponsored ADR | 0.22% | 574,918 | $17.6M | Reduce -3.7% |
| ORANY Orange-Spon ADR | 0.22% | 1,757,008 | $17.5M | Add +2.8% |
| HMC Honda Motor Co. Ltd.-Spons ADR | 0.21% | 521,158 | $16.8M | Reduce -3.3% |
| BCS Barclays PLC-Spons ADR | 0.20% | 1,487,771 | $15.9M | Reduce -21.1% |
| FSTR Foster (lb) Co. Class A | 0.19% | 732,582 | $15.8M | Add +4.6% |
| GD General Dynamics Corp. | 0.18% | 50,728 | $14.7M | Reduce -7.2% |
| MUFG Mitsubishi Ufj Finl-Spon ADR | 0.17% | 1,339,322 | $14.2M | Reduce -27.2% |
| HCSG Healthcare Services Group | 0.17% | 1,318,045 | $14.0M | Add +12.2% |
Portfolio Sells Q1 2024 → Q2 2024
| EMBJ Embraer SA-Spon ADR | Reduce -21.8% | 3.93% | −1.44 |
| CX Cemex Sab-Spons ADR Part Cer | Reduce -6.3% | 1.02% | −0.59 |
| WFC Wells Fargo & Co. | Reduce -12.3% | 2.85% | −0.47 |
| ORI Old Republic Intl Corp. | Reduce -97.6% | 0.01% | −0.38 |
| MU Micron Technology Inc. | Reduce -24.1% | 1.46% | −0.34 |
| AIG American International Group | Reduce -8.3% | 1.46% | −0.29 |
| UL Unilever PLC | Reduce -99.0% | 0.00% | −0.26 |
| OMF Onemain Holdings Inc. | Reduce -8.9% | 1.14% | −0.24 |
| BUD Anheuser-Busch Inbev-SPN ADR | Reduce -95.1% | 0.01% | −0.21 |
| JPM JPMorgan Chase & Co. | Reduce -18.3% | 0.73% | −0.19 |
| SPR Spirit Aerosystems Hold Class A | Sold out | 0.00% | −0.17 |
| EXE Expand Energy Corp. | Reduce -76.9% | 0.04% | −0.17 |
| BRK.B Berkshire Hathaway Inc. Class B | Reduce -24.8% | 0.36% | −0.15 |
| TARO Taro Pharmaceutical Indus | Sold out | 0.00% | −0.15 |
| UBS UBS Group AG-Reg | Reduce -7.2% | 0.63% | −0.11 |
| TAK Takeda Pharmaceutic-SP ADR | Reduce -9.2% | 0.42% | −0.10 |
| CPA Copa Holdings SA Class A | Reduce -0.3% | 0.54% | −0.08 |
| SAP Sap SE-Sponsored ADR | Reduce -8.9% | 0.62% | −0.07 |
| MUFG Mitsubishi Ufj Finl-Spon ADR | Reduce -27.2% | 0.17% | −0.07 |
| HMC Honda Motor Co. Ltd.-Spons ADR | Reduce -3.3% | 0.21% | −0.05 |
| GHM Graham Corp. | Reduce -10.8% | 0.37% | −0.05 |
| TTE Totalenergies SE -Spon ADR | Reduce -1.6% | 0.44% | −0.04 |
| ZTO Zto Express Cayman Inc.-ADR | Reduce -0.7% | 0.62% | −0.04 |
| MCY Mercury General Corp. | Reduce -43.5% | 0.04% | −0.03 |
| BCS Barclays PLC-Spons ADR | Reduce -21.1% | 0.20% | −0.03 |
| CRH CRH PLC | Reduce -3.6% | 0.11% | −0.03 |
| E Eni SPA-Sponsored ADR | Reduce -3.7% | 0.22% | −0.03 |
| ENIC Enel Chile SA-ADR | Reduce -5.4% | 0.13% | −0.03 |
| TIMB Tim SA-ADR | Reduce -59.3% | 0.01% | −0.02 |
| BP BP PLC-Spons ADR | Reduce -4.2% | 0.15% | −0.02 |
| NPK National Presto Inds Inc. | Reduce -6.1% | 0.08% | −0.02 |
| GD General Dynamics Corp. | Reduce -7.2% | 0.18% | −0.02 |
| SHG Shinhan Financial Group-ADR | Reduce -0.3% | 0.22% | −0.02 |
| SMG Scotts Miracle-Gro Co. | Reduce -6.0% | 0.07% | −0.02 |
| JCI Johnson Controls Internation | Reduce -0.5% | 0.48% | −0.02 |
| ASAIY Sendas Distribuidora SA | Reduce -10.5% | 0.02% | −0.01 |
| NWLI National Western Life Grou-A | Reduce -19.6% | 0.04% | −0.01 |
| BLCO Bausch + Lomb Corp. | Reduce -77.4% | 0.00% | −0.01 |
| RBBN Ribbon Communications Inc. | Reduce -19.1% | 0.03% | −0.01 |
| FCFS Firstcash Holdings Inc. | Sold out | 0.00% | −0.01 |
| SFM Sprouts Farmers Market Inc. | Sold out | 0.00% | −0.01 |
| BAP Credicorp Ltd. | Reduce -8.2% | 0.03% | −0.01 |
| VBR Vngrd Mrngst SL-CP Val ETF-U | Reduce -59.6% | 0.00% | −0.01 |
| SUZ Suzano SA - Spon ADR | Reduce -9.7% | 0.01% | −0.01 |
| CALM Cal-Maine Foods Inc. | Sold out | 0.00% | −0.01 |
| MSM MSC Industrial Direct Co. Class A | Sold out | 0.00% | −0.01 |
| MFC Manulife Financial Corp. | Sold out | 0.00% | −0.00 |
| SKX Skechers USA Inc. Class A | Reduce -28.6% | 0.01% | −0.00 |
| GIL Gildan Activewear Inc. | Reduce -19.5% | 0.01% | −0.00 |
| SCHL Scholastic Corp. | Reduce -13.3% | 0.00% | −0.00 |
Portfolio Buys Q1 2024 → Q2 2024
| CAE Cae Inc. | Add +103.8% | 2.54% | +1.09 |
| ACGL Arch Capital Group Ltd. | New | 0.59% | +0.59 |
| CTSH Cognizant Tech Solutions-A | Add +56.1% | 1.83% | +0.51 |
| OTEX Open Text Corp. | Add +236.8% | 0.68% | +0.41 |
| ETR Entergy Corp. | New | 0.39% | +0.39 |
| KNX Knight-Swift Transportation | New | 0.37% | +0.37 |
| KVUE Kenvue Inc. | Add +3620.9% | 0.36% | +0.35 |
| GOOG Alphabet Inc. Class C | Add +17.7% | 1.06% | +0.28 |
| IXUS iShares Core Intl Stock ETF | New | 0.26% | +0.26 |
| BAC Bank of America Corp. | Add +8.4% | 2.68% | +0.22 |
| DOX Amdocs Ltd. | Add +31.1% | 2.20% | +0.19 |
| FDX FedEx Corp. | Add +9.7% | 2.20% | +0.17 |
| GOOGL Alphabet Inc. Class A | Add +3.3% | 0.93% | +0.15 |
| CVX Chevron Corp. | Add +14.0% | 1.90% | +0.14 |
| LH Labcorp Holdings Inc. | Add +25.4% | 1.24% | +0.13 |
| SSNC Ss&c Technologies Holdings | Add +37.0% | 0.58% | +0.12 |
| EPC Edgewell Personal Care Co. | Add +19.8% | 0.76% | +0.12 |
| KMT Kennametal Inc. | Add +35.1% | 0.67% | +0.12 |
| FOX Fox Corp. Class B | Add +21.6% | 0.50% | +0.12 |
| PFE Pfizer Inc. | Add +10.2% | 1.92% | +0.11 |
| SEE Sealed Air Corp. | Add +2050.8% | 0.12% | +0.11 |
| BNY Bank of New York Mellon Corp. | Add +8.4% | 1.53% | +0.11 |
| PAHC Phibro Animal Health Corp. Class A | Add +1.2% | 0.50% | +0.10 |
| CNH CNH Industrial NV | New | 0.09% | +0.09 |
| C Citigroup Inc. | Add +8.2% | 2.39% | +0.09 |
| INGR Ingredion Inc. | Add +21.3% | 0.61% | +0.07 |
| IMKTA Ingles Markets Inc. Class A | Add +111.0% | 0.17% | +0.07 |
| QRVO Qorvo Inc. | Add +19.0% | 0.38% | +0.05 |
| FLEX Flex Ltd. | Add +8.3% | 0.75% | +0.05 |
| SNN Smith & Nephew PLC -Spon ADR | Add +20.5% | 0.42% | +0.05 |
| OMC Omnicom Group | Add +20.6% | 0.72% | +0.05 |
| TXT Textron Inc. | Add +20.1% | 1.64% | +0.05 |
| SHEL Shell PLC-ADR | Add +0.7% | 1.28% | +0.04 |
| TFC Truist Financial Corp. | Add +19.8% | 0.35% | +0.04 |
| SNY Sanofi-ADR | Add +8.4% | 1.26% | +0.04 |
| AZO AutoZone Inc. | Add +18.3% | 0.63% | +0.04 |
| CSCO Cisco Systems Inc. | Add +22.5% | 0.33% | +0.03 |
| RGP Resources Connection Inc. | New | 0.03% | +0.03 |
| UTMD Utah Medical Products Inc. | Add +66.2% | 0.10% | +0.03 |
| AOUT American Outdoor Brands Inc. | Add +70.8% | 0.08% | +0.03 |
| WKC World Kinect Corp. | Add +10.6% | 0.94% | +0.03 |
| NVS Novartis AG-Sponsored ADR | Add +4.8% | 0.29% | +0.03 |
| NWN Northwest Natural Holding Co. | Add +1040.1% | 0.03% | +0.03 |
| PREMIER INC-CLASS A | Add +86.3% | 0.08% | +0.03 |
| IPG Interpublic Group of Cos Inc. | Add +94.5% | 0.06% | +0.03 |
| UTHR United Therapeutics Corp. | Add +4.9% | 0.08% | +0.02 |
| MOG.A Moog Inc. Class A | Add +3.6% | 0.61% | +0.02 |
| JNJ Johnson & Johnson | Add +17.1% | 0.58% | +0.02 |
| DRIL-QUIP INC | Add +29.6% | 0.85% | +0.02 |
| EMR Emerson Electric Co. | Add +9.4% | 1.29% | +0.02 |
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 193 | $14.3B | CAE, EMBJ, MHK, OTEX, GRFS |
| Q1 2026 | 186 | $14.1B | CAE, EMBJ, DOX, GRFS, C |
| Q4 2025 | 190 | $13.1B | CAE, EMBJ, OTEX, KMT, GRFS |
| Q3 2025 | 180 | $12.5B | CAE, EMBJ, OTEX, GRFS, TIGO |
| Q2 2025 | 181 | $11.1B | CAE, EMBJ, GRFS, TIGO, OTEX |
| Q1 2025 | 185 | $9.8B | CAE, EMBJ, MCK, CI, DOX |
| Q4 2024 | 190 | $8.9B | CAE, EMBJ, BAC, FISV, WFC |
| Q3 2024 | 186 | $8.9B | EMBJ, CAE, WFC, FISV, CMCSA |
| Q2 2024 | 187 | $8.1B | EMBJ, WFC, BAC, CAE, C |
| Q1 2024 | 185 | $7.8B | EMBJ, WFC, BAC, CMCSA, C |