Brandes Investment Partners, LP
In its 13F for Q3 2024 (holdings as of September 30, 2024, filed November 14, 2024), Brandes Investment Partners, LP reported 186 stock positions worth $8.9 billion. Its top holding was Embraer SA-Spon ADR (EMBJ) at 4.1% of the portfolio, followed by Cae (CAE, 3.1%) and Wells Fargo (WFC, 2.6%). Compared with Q2 2024, it opened 5 new positions, sold out of 6, added to 128 and reduced 49. The biggest buy was Open Text (OTEX, shares +90%) and the biggest sale Willis Towers Watson (WTW, shares −55%).
- Most Recent 13F
- Q2 2026
- Location
- LA JOLLA, CA
- CIK
- 0001015079
- Portfolio Value
- $8.9B (Q3 2024)
- SEC Filing
- 0001041062-24-000183 ↗ filed Nov 14, 2024
Holdings Value
Holdings 186 stocks · $8.9B
| EMBJ Embraer SA-Spon ADR | 4.06% | 10,217,696 | $361.4M | Reduce -16.7% |
| CAE Cae Inc. | 3.10% | 14,690,492 | $275.4M | Add +32.7% |
| WFC Wells Fargo & Co. | 2.56% | 4,024,671 | $227.4M | Add +3.1% |
| FISV Fiserv Inc. | 2.48% | 1,226,390 | $220.3M | Add +1.1% |
| CMCSA Comcast Corp. Class A | 2.44% | 5,186,309 | $216.6M | Add +5.2% |
| BAC Bank of America Corp. filed as BANK AMERICA CORP | 2.33% | 5,215,882 | $207.0M | Reduce -4.9% |
| DOX Amdocs Ltd. | 2.30% | 2,340,438 | $204.7M | Add +3.5% |
| C Citigroup Inc. | 2.18% | 3,103,454 | $194.3M | Add +1.1% |
| MCK McKesson Corp. | 2.09% | 376,309 | $186.1M | Add +32.3% |
| CI The Cigna Group | 2.02% | 518,064 | $179.5M | Add +1.4% |
| GRFS Grifols SA-ADR | 1.99% | 19,903,997 | $176.7M | Add +7.0% |
| CTSH Cognizant Tech Solutions-A | 1.97% | 2,266,825 | $175.0M | Add +3.4% |
| CTVA Corteva Inc. | 1.95% | 2,955,144 | $173.7M | Add +3.0% |
| PNC PNC Financial Services Group | 1.90% | 912,386 | $168.7M | Add +1.2% |
| PFE Pfizer Inc. | 1.87% | 5,745,327 | $166.3M | Add +3.1% |
| FDX FedEx Corp. | 1.86% | 605,317 | $165.7M | Add +1.4% |
| MRK Merck & Co. Inc. | 1.76% | 1,378,205 | $156.5M | Add +1.4% |
| HCA HCA Healthcare Inc. | 1.70% | 373,058 | $151.6M | Add +1.8% |
| BNY Bank of New York Mellon Corp. filed as BANK NEW YORK MELLON CORP | 1.69% | 2,093,837 | $150.5M | Add +1.1% |
| CVX Chevron Corp. | 1.67% | 1,010,234 | $148.8M | Add +2.2% |
| MHK Mohawk Industries Inc. | 1.67% | 922,605 | $148.2M | Reduce -9.2% |
| TXT Textron Inc. | 1.55% | 1,556,991 | $137.9M | Add +0.5% |
| HAL Halliburton Co. | 1.54% | 4,727,821 | $137.3M | Add +10.5% |
| MU Micron Technology Inc. | 1.43% | 1,224,904 | $127.0M | Add +35.9% |
| TIGO Millicom Intl Cellular S.A. | 1.37% | 4,506,194 | $122.2M | Reduce -0.1% |
| SNY Sanofi-ADR | 1.37% | 2,118,846 | $122.1M | Reduce -0.2% |
| AIG American International Group | 1.33% | 1,609,577 | $117.9M | Add +0.9% |
| OTEX Open Text Corp. | 1.30% | 3,487,074 | $116.0M | Add +90.0% |
| CAH Cardinal Health Inc. | 1.26% | 1,017,656 | $112.5M | Reduce -22.6% |
| LH Labcorp Holdings Inc. | 1.26% | 501,722 | $112.1M | Add +1.6% |
| CX Cemex Sab-Spons ADR Part Cer | 1.24% | 18,122,978 | $110.6M | Add +39.8% |
| EMR Emerson Electric Co. | 1.20% | 972,895 | $106.4M | Add +2.0% |
| CVS CVS Health Corp. | 1.18% | 1,673,158 | $105.2M | Add +1.2% |
| STT State Street Corp. | 1.09% | 1,099,532 | $97.3M | Add +2.8% |
| SHEL Shell PLC-ADR | 1.08% | 1,460,277 | $96.3M | Add +0.9% |
| WKC World Kinect Corp. | 1.05% | 3,027,792 | $93.6M | Add +1.9% |
| OMF Onemain Holdings Inc. | 1.02% | 1,931,445 | $90.9M | Add +1.0% |
| WTW Willis Towers Watson PLC | 0.89% | 268,502 | $79.1M | Reduce -55.1% |
| NTGR Netgear Inc. | 0.88% | 3,910,509 | $78.4M | Add +0.4% |
| BABA Alibaba Group Holding-SP ADR | 0.85% | 714,770 | $75.9M | Add +0.5% |
| OMC Omnicom Group | 0.79% | 677,951 | $70.1M | Add +4.0% |
| GOOG Alphabet Inc. Class C | 0.79% | 418,933 | $70.0M | Reduce -11.0% |
| FLEX Flex Ltd. | 0.79% | 2,088,981 | $69.8M | Add +1.6% |
| GOOGL Alphabet Inc. Class A | 0.78% | 417,674 | $69.3M | Add +0.9% |
| KVUE Kenvue Inc. | 0.74% | 2,850,325 | $65.9M | Add +76.4% |
| INVX Innovex International Inc. | 0.74% | 4,462,382 | $65.5M | Add +19.6% |
| ARLO Arlo Technologies Inc. | 0.73% | 5,356,644 | $64.9M | Add +4.2% |
| KMT Kennametal Inc. | 0.73% | 2,495,489 | $64.7M | Add +7.0% |
| JPM JPMorgan Chase & Co. | 0.70% | 294,031 | $62.0M | Add +0.8% |
| EPC Edgewell Personal Care Co. | 0.69% | 1,686,441 | $61.3M | Add +10.3% |
| INGR Ingredion Inc. | 0.68% | 440,420 | $60.5M | Add +2.1% |
| WRB WR Berkley Corp. filed as BERKLEY W R CORP | 0.68% | 1,065,488 | $60.4M | Add +1.6% |
| ZTO Zto Express Cayman Inc.-ADR | 0.66% | 2,370,430 | $58.7M | Reduce -2.6% |
| ACGL Arch Capital Group Ltd. | 0.65% | 516,644 | $57.8M | Add +8.3% |
| JNJ Johnson & Johnson | 0.62% | 341,323 | $55.3M | Add +5.2% |
| AZO AutoZone Inc. | 0.62% | 17,446 | $55.0M | Add +1.6% |
| SAP Sap SE-Sponsored ADR | 0.61% | 236,847 | $54.3M | Reduce -5.2% |
| MOG.A Moog Inc. Class A | 0.61% | 267,634 | $54.1M | Reduce -9.6% |
| SSNC Ss&c Technologies Holdings | 0.57% | 682,010 | $50.6M | Reduce -8.9% |
| ELAN Elanco Animal Health Inc. | 0.57% | 3,434,489 | $50.5M | Add +16.6% |
| UBS UBS Group AG-Reg | 0.56% | 1,622,431 | $50.1M | Reduce -6.5% |
| TSM Taiwan Semiconductor-SP ADR | 0.56% | 285,885 | $49.6M | Reduce -35.0% |
| CPA Copa Holdings SA Class A | 0.55% | 517,603 | $48.6M | Add +13.3% |
| JCI Johnson Controls Internation | 0.52% | 599,311 | $46.5M | Add +2.0% |
| TAK Takeda Pharmaceutic-SP ADR | 0.52% | 3,231,604 | $46.0M | Add +22.6% |
| GSK GSK PLC-Spon ADR | 0.50% | 1,077,857 | $44.1M | Reduce -5.9% |
| ABEV Ambev SA-ADR | 0.47% | 17,145,784 | $41.8M | Add +10.9% |
| ETR Entergy Corp. | 0.46% | 312,040 | $41.1M | Add +4.3% |
| HXL Hexcel Corp. | 0.45% | 653,607 | $40.4M | New |
| AMX America Movil Sab DE CV | 0.45% | 2,455,665 | $40.2M | Add +102.4% |
| SNN Smith & Nephew PLC -Spon ADR | 0.43% | 1,224,045 | $38.1M | Reduce -10.8% |
| HBI Hanesbrands Inc. | 0.42% | 5,045,811 | $37.1M | Add +4.4% |
| GTES Gates Industrial Corp. UK Ltd. | 0.41% | 2,098,711 | $36.8M | Add +2.1% |
| KNX Knight-Swift Transportation | 0.40% | 660,209 | $35.6M | Add +8.8% |
| PBR.A Petroleo Brasil-SP Pref ADR | 0.39% | 2,646,486 | $34.9M | Add +16.4% |
| GHM Graham Corp. | 0.38% | 1,133,456 | $33.5M | Add +5.3% |
| PAHC Phibro Animal Health Corp. Class A | 0.38% | 1,484,739 | $33.4M | Reduce -38.3% |
| TTE Totalenergies SE -Spon ADR | 0.37% | 502,741 | $32.5M | Reduce -5.8% |
| BRK.B Berkshire Hathaway Inc. Class B | 0.36% | 70,421 | $32.4M | Reduce -0.8% |
| CSCO Cisco Systems Inc. | 0.36% | 605,438 | $32.2M | Add +8.2% |
| TFC Truist Financial Corp. | 0.36% | 741,770 | $31.7M | Add +2.0% |
| PKE Park Aerospace Corp. | 0.35% | 2,417,056 | $31.5M | Add +12.4% |
| WPP WPP PLC-Sponsored ADR | 0.35% | 609,406 | $31.2M | Reduce -6.6% |
| VIV Telefonica Brasil-ADR | 0.34% | 2,958,121 | $30.4M | Add +34.1% |
| PHG Koninklijke Philips NVR- NY | 0.32% | 875,478 | $28.6M | Reduce -27.8% |
| QRVO Qorvo Inc. | 0.32% | 271,300 | $28.0M | Add +0.6% |
| IMKTA Ingles Markets Inc. Class A | 0.31% | 374,885 | $28.0M | Add +90.5% |
| SLB SLB Ltd. filed as SCHLUMBERGER LTD | 0.31% | 649,067 | $27.2M | New |
| LKQ LKQ Corp. | 0.30% | 671,361 | $26.8M | New |
| NVS Novartis AG-Sponsored ADR | 0.28% | 213,759 | $24.6M | Reduce -4.7% |
| ORANY Orange-Spon ADR | 0.24% | 1,848,118 | $21.2M | Add +5.2% |
| SHG Shinhan Financial Group-ADR | 0.23% | 475,945 | $20.2M | Reduce -8.9% |
| ORN Orion Group Holdings Inc. | 0.21% | 3,303,393 | $19.1M | Add +20.0% |
| AVDL Avadel Pharmaceuticals Ltd. | 0.20% | 1,374,724 | $18.0M | Reduce -7.3% |
| FSTR Foster (lb) Co. Class A | 0.19% | 838,829 | $17.1M | Add +14.5% |
| BCS Barclays PLC-Spons ADR | 0.19% | 1,372,632 | $16.7M | Reduce -7.7% |
| HCSG Healthcare Services Group | 0.18% | 1,466,619 | $16.4M | Add +11.3% |
| E Eni SPA-Sponsored ADR | 0.18% | 536,262 | $16.3M | Reduce -6.7% |
| HMC Honda Motor Co. Ltd.-Spons ADR | 0.18% | 504,139 | $16.0M | Reduce -3.3% |
| SEE Sealed Air Corp. | 0.18% | 431,712 | $15.7M | Add +57.4% |
Portfolio Sells Q2 2024 → Q3 2024
| WTW Willis Towers Watson PLC | Reduce -55.1% | 0.89% | −1.04 |
| FTRE Fortrea Holdings Inc. | Reduce -98.2% | 0.01% | −0.69 |
| FOX Fox Corp. Class B | Sold out | 0.00% | −0.50 |
| TSM Taiwan Semiconductor-SP ADR | Reduce -35.0% | 0.56% | −0.38 |
| BAC Bank of America Corp. | Reduce -4.9% | 2.33% | −0.36 |
| CAH Cardinal Health Inc. | Reduce -22.6% | 1.26% | −0.33 |
| GOOG Alphabet Inc. Class C | Reduce -11.0% | 0.79% | −0.28 |
| CYD China Yuchai Intl Ltd. | Sold out | 0.00% | −0.14 |
| IXUS iShares Core Intl Stock ETF | Reduce -48.1% | 0.13% | −0.13 |
| PAHC Phibro Animal Health Corp. Class A | Reduce -38.3% | 0.38% | −0.12 |
| TTE Totalenergies SE -Spon ADR | Reduce -5.8% | 0.37% | −0.07 |
| UBS UBS Group AG-Reg | Reduce -6.5% | 0.56% | −0.07 |
| PHG Koninklijke Philips NVR- NY | Reduce -27.8% | 0.32% | −0.06 |
| AVDL Avadel Pharmaceuticals Ltd. | Reduce -7.3% | 0.20% | −0.05 |
| GSK GSK PLC-Spon ADR | Reduce -5.9% | 0.50% | −0.05 |
| NWLI National Western Life Grou-A | Sold out | 0.00% | −0.04 |
| BP BP PLC-Spons ADR | Reduce -5.3% | 0.11% | −0.04 |
| E Eni SPA-Sponsored ADR | Reduce -6.7% | 0.18% | −0.03 |
| UTHR United Therapeutics Corp. | Reduce -41.3% | 0.05% | −0.03 |
| MUFG Mitsubishi Ufj Finl-Spon ADR | Reduce -6.1% | 0.14% | −0.03 |
| MCY Mercury General Corp. | Reduce -73.5% | 0.01% | −0.03 |
| EQC Equity Commonwealth | Reduce -11.9% | 0.13% | −0.03 |
| HMC Honda Motor Co. Ltd.-Spons ADR | Reduce -3.3% | 0.18% | −0.03 |
| WPP WPP PLC-Sponsored ADR | Reduce -6.6% | 0.35% | −0.02 |
| NVS Novartis AG-Sponsored ADR | Reduce -4.7% | 0.28% | −0.02 |
| AVA Avista Corp. | Reduce -50.0% | 0.02% | −0.02 |
| SAP Sap SE-Sponsored ADR | Reduce -5.2% | 0.61% | −0.01 |
| HDB HDFC Bank Ltd.-ADR | Reduce -9.9% | 0.03% | −0.01 |
| BCS Barclays PLC-Spons ADR | Reduce -7.7% | 0.19% | −0.01 |
| SSNC Ss&c Technologies Holdings | Reduce -8.9% | 0.57% | −0.01 |
| ASAIY Sendas Distribuidora SA | Reduce -16.6% | 0.01% | −0.01 |
| TRU Transunion | Sold out | 0.00% | −0.01 |
| GIL Gildan Activewear Inc. | Reduce -69.7% | 0.00% | −0.01 |
| SAIC Science Applications Inte | Sold out | 0.00% | −0.00 |
| HSBC HSBC Holdings PLC-Spons ADR | Reduce -10.1% | 0.02% | −0.00 |
| FMX Fomento Economico Mex-SP ADR | Reduce -16.1% | 0.01% | −0.00 |
| UL Unilever PLC | Sold out | 0.00% | −0.00 |
| BAP Credicorp Ltd. | Reduce -11.1% | 0.03% | −0.00 |
| VWO Vanguard Ftse Emerging Marke | Reduce -29.9% | 0.00% | −0.00 |
| CRD.A Crawford & Company Class A | Reduce -17.0% | 0.06% | −0.00 |
| MOG.A Moog Inc. Class A | Reduce -9.6% | 0.61% | −0.00 |
| NWG Natwest Group PLC -Spon ADR | Reduce -5.7% | 0.13% | −0.00 |
| KOF Coca-Cola Femsa Sab-SP ADR | Reduce -1.2% | 0.00% | −0.00 |
| BUD Anheuser-Busch Inbev-SPN ADR | Reduce -0.0% | 0.01% | +0.00 |
| BTI British American Tob-SP ADR | Reduce -2.3% | 0.01% | +0.00 |
| TIMB Tim SA-ADR | Reduce -0.2% | 0.01% | +0.00 |
| SHG Shinhan Financial Group-ADR | Reduce -8.9% | 0.23% | +0.00 |
| BRK.B Berkshire Hathaway Inc. Class B | Reduce -0.8% | 0.36% | +0.01 |
| CRH CRH PLC | Reduce -4.6% | 0.12% | +0.01 |
| SNN Smith & Nephew PLC -Spon ADR | Reduce -10.8% | 0.43% | +0.01 |
Portfolio Buys Q2 2024 → Q3 2024
| OTEX Open Text Corp. | Add +90.0% | 1.30% | +0.63 |
| CAE Cae Inc. | Add +32.7% | 3.10% | +0.56 |
| GRFS Grifols SA-ADR | Add +7.0% | 1.99% | +0.54 |
| HXL Hexcel Corp. | New | 0.45% | +0.45 |
| KVUE Kenvue Inc. | Add +76.4% | 0.74% | +0.38 |
| SLB SLB Ltd. | New | 0.31% | +0.31 |
| LKQ LKQ Corp. | New | 0.30% | +0.30 |
| FISV Fiserv Inc. | Add +1.1% | 2.48% | +0.25 |
| HCA HCA Healthcare Inc. | Add +1.8% | 1.70% | +0.25 |
| CX Cemex Sab-Spons ADR Part Cer | Add +39.8% | 1.24% | +0.22 |
| BABA Alibaba Group Holding-SP ADR | Add +0.5% | 0.85% | +0.22 |
| AMX America Movil Sab DE CV | Add +102.4% | 0.45% | +0.20 |
| PNC PNC Financial Services Group | Add +1.2% | 1.90% | +0.17 |
| BNY Bank of New York Mellon Corp. | Add +1.1% | 1.69% | +0.16 |
| NTGR Netgear Inc. | Add +0.4% | 0.88% | +0.15 |
| IMKTA Ingles Markets Inc. Class A | Add +90.5% | 0.31% | +0.15 |
| CTSH Cognizant Tech Solutions-A | Add +3.4% | 1.97% | +0.13 |
| HBI Hanesbrands Inc. | Add +4.4% | 0.42% | +0.12 |
| STT State Street Corp. | Add +2.8% | 1.09% | +0.12 |
| VIV Telefonica Brasil-ADR | Add +34.1% | 0.34% | +0.12 |
| WKC World Kinect Corp. | Add +1.9% | 1.05% | +0.11 |
| DOX Amdocs Ltd. | Add +3.5% | 2.30% | +0.11 |
| TAK Takeda Pharmaceutic-SP ADR | Add +22.6% | 0.52% | +0.10 |
| ABEV Ambev SA-ADR | Add +10.9% | 0.47% | +0.08 |
| INGR Ingredion Inc. | Add +2.1% | 0.68% | +0.07 |
| OMC Omnicom Group | Add +4.0% | 0.79% | +0.07 |
| CNH CNH Industrial NV | Add +78.4% | 0.16% | +0.07 |
| ETR Entergy Corp. | Add +4.3% | 0.46% | +0.07 |
| CMCSA Comcast Corp. Class A | Add +5.2% | 2.44% | +0.06 |
| SEE Sealed Air Corp. | Add +57.4% | 0.18% | +0.06 |
| ACGL Arch Capital Group Ltd. | Add +8.3% | 0.65% | +0.06 |
| KMT Kennametal Inc. | Add +7.0% | 0.73% | +0.05 |
| ENIC Enel Chile SA-ADR | Add +52.6% | 0.17% | +0.05 |
| CTVA Corteva Inc. | Add +3.0% | 1.95% | +0.05 |
| ELAN Elanco Animal Health Inc. | Add +16.6% | 0.57% | +0.04 |
| MCK McKesson Corp. | Add +32.3% | 2.09% | +0.04 |
| JCI Johnson Controls Internation | Add +2.0% | 0.52% | +0.04 |
| MSM MSC Industrial Direct Co. Class A | New | 0.04% | +0.04 |
| MD Pediatrix Medical Group Inc. | Add +10.8% | 0.11% | +0.04 |
| FLEX Flex Ltd. | Add +1.6% | 0.79% | +0.04 |
| JNJ Johnson & Johnson | Add +5.2% | 0.62% | +0.04 |
| IPGP Ipg Photonics Corp. | Add +283.7% | 0.05% | +0.04 |
| CSCO Cisco Systems Inc. | Add +8.2% | 0.36% | +0.04 |
| NPK National Presto Inds Inc. | Add +47.5% | 0.11% | +0.03 |
| KNX Knight-Swift Transportation | Add +8.8% | 0.40% | +0.03 |
| SMG Scotts Miracle-Gro Co. | Add +18.2% | 0.09% | +0.03 |
| HURC Hurco Companies Inc. | Add +11.7% | 0.09% | +0.02 |
| ORANY Orange-Spon ADR | Add +5.2% | 0.24% | +0.02 |
| LH Labcorp Holdings Inc. | Add +1.6% | 1.26% | +0.02 |
| VBR Vngrd Mrngst SL-CP Val ETF-U | Add +447.2% | 0.02% | +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 |