Brandes Investment Partners, LP
In its 13F for Q1 2026 (holdings as of March 31, 2026, filed May 15, 2026), Brandes Investment Partners, LP reported 186 stock positions worth $14.1 billion. Its top holding was Cae (CAE) at 2.9% of the portfolio, followed by Embraer SA-Spon ADR (EMBJ, 2.4%) and Amdocs (DOX, 2.2%). Compared with Q4 2025, it opened 10 new positions, sold out of 14, added to 121 and reduced 52. The biggest buy was Nice Ltd. - Spon ADR (NICE, shares +215%) and the biggest sale Kennametal (KMT, shares −49%).
- Most Recent 13F
- Q2 2026
- Location
- LA JOLLA, CA
- CIK
- 0001015079
- Portfolio Value
- $14.1B (Q1 2026)
- SEC Filing
- 0001015079-26-000064 ↗ filed May 15, 2026
Holdings Value
Holdings 186 stocks · $14.1B
| CAE Cae Inc. | 2.93% | 15,874,667 | $413.5M | Add +4.7% |
| EMBJ Embraer SA-Spon ADR | 2.40% | 5,703,945 | $338.5M | Add +10.6% |
| DOX Amdocs Ltd. | 2.15% | 4,655,087 | $303.8M | Add +71.5% |
| GRFS Grifols SA-ADR | 2.06% | 36,333,714 | $291.4M | Add +17.4% |
| C Citigroup Inc. | 1.96% | 2,444,489 | $277.2M | Add +3.5% |
| MRK Merck & Co. Inc. | 1.96% | 2,302,562 | $277.0M | Reduce -6.7% |
| OTEX Open Text Corp. | 1.91% | 12,135,998 | $269.9M | Add +33.3% |
| CI The Cigna Group | 1.90% | 1,008,869 | $269.1M | Add +6.8% |
| MHK Mohawk Industries Inc. | 1.82% | 2,618,422 | $257.8M | Add +137.5% |
| SHEL Shell PLC-ADR | 1.81% | 2,752,755 | $256.0M | Add +5.2% |
| PFE Pfizer Inc. | 1.81% | 9,107,225 | $255.7M | Add +5.5% |
| FDX FedEx Corp. | 1.78% | 706,467 | $251.6M | Reduce -2.3% |
| TXT Textron Inc. | 1.76% | 2,840,753 | $248.7M | Add +3.9% |
| NICE Nice Ltd. - Spon ADR | 1.74% | 2,229,590 | $245.8M | Add +215.3% |
| HAL Halliburton Co. | 1.74% | 6,291,344 | $245.3M | Reduce -16.7% |
| TIGO Millicom Intl Cellular S.A. | 1.73% | 3,261,016 | $244.4M | Reduce -32.6% |
| BDX Becton Dickinson and Co. | 1.69% | 1,515,604 | $238.3M | Add +23.3% |
| BAC Bank of America Corp. filed as BANK AMERICA CORP | 1.58% | 4,566,877 | $222.6M | Add +4.1% |
| WFC Wells Fargo & Co. | 1.55% | 2,754,893 | $219.3M | Add +4.8% |
| WLK Westlake Corp. | 1.52% | 1,842,650 | $215.3M | Add +10.3% |
| KMT Kennametal Inc. | 1.35% | 5,265,280 | $190.2M | Reduce -48.5% |
| CTSH Cognizant Tech Solutions-A | 1.32% | 3,042,840 | $186.7M | Add +31.0% |
| CMCSA Comcast Corp. Class A | 1.31% | 6,429,738 | $184.6M | Add +7.3% |
| HXL Hexcel Corp. | 1.28% | 2,234,325 | $180.8M | Reduce -10.8% |
| EPAM Epam Systems Inc. | 1.27% | 1,325,054 | $179.4M | Add +34.7% |
| SNY Sanofi-ADR | 1.27% | 3,723,100 | $179.4M | Add +27.8% |
| PGR Progressive Corp. | 1.22% | 868,688 | $172.2M | Add +44.2% |
| ACGL Arch Capital Group Ltd. | 1.20% | 1,772,372 | $170.1M | Add +3.6% |
| PNC PNC Financial Services Group | 1.20% | 814,000 | $169.4M | Add +2.0% |
| UNH Unitedhealth Group Inc. | 1.19% | 621,884 | $168.3M | Add +55.5% |
| HCA HCA Healthcare Inc. | 1.15% | 343,224 | $162.4M | Reduce -11.3% |
| INVX Innovex International Inc. | 1.14% | 6,583,415 | $160.6M | Reduce -14.0% |
| ICLR Icon PLC | 1.12% | 1,435,053 | $158.8M | Add +84.8% |
| GLOB Globant SA | 1.12% | 3,424,400 | $157.9M | Add +42.6% |
| AJG Arthur J Gallagher & Co. filed as GALLAGHER ARTHUR J & CO | 1.07% | 701,260 | $151.9M | New |
| MCK McKesson Corp. | 1.06% | 172,487 | $149.3M | Reduce -8.4% |
| ARLO Arlo Technologies Inc. | 1.03% | 10,218,854 | $145.4M | Add +24.6% |
| EPC Edgewell Personal Care Co. | 1.02% | 6,721,077 | $143.4M | Add +9.8% |
| CVS CVS Health Corp. | 1.00% | 1,969,801 | $141.5M | Add +6.7% |
| EFX Equifax Inc. | 0.95% | 747,201 | $134.6M | New |
| MU Micron Technology Inc. | 0.94% | 391,792 | $132.4M | Reduce -33.7% |
| EMR Emerson Electric Co. | 0.88% | 953,506 | $124.9M | Add +5.0% |
| IMKTA Ingles Markets Inc. Class A | 0.80% | 1,252,284 | $112.6M | Add +3.8% |
| NGG National Grid PLC-SP ADR | 0.79% | 1,312,011 | $111.0M | Add +68.1% |
| FISV Fiserv Inc. | 0.76% | 1,927,031 | $107.5M | Add +6.7% |
| SLB SLB Ltd. filed as SLB LIMITED | 0.74% | 2,042,013 | $104.9M | Add +5.0% |
| CX Cemex Sab-Spons ADR Part Cer | 0.74% | 9,098,991 | $104.1M | Reduce -29.2% |
| GOOGL Alphabet Inc. Class A | 0.72% | 353,899 | $101.8M | Add +5.5% |
| CVX Chevron Corp. | 0.71% | 483,160 | $100.0M | Reduce -17.4% |
| WKC World Kinect Corp. | 0.70% | 4,289,840 | $99.0M | Add +11.6% |
| EVRG Evergy Inc. | 0.69% | 1,186,371 | $97.2M | Add +4.2% |
| GHM Graham Corp. | 0.65% | 1,170,981 | $92.4M | Reduce -6.1% |
| WTW Willis Towers Watson PLC | 0.62% | 299,036 | $86.9M | Add +8.5% |
| OMC Omnicom Group | 0.61% | 1,145,912 | $86.3M | Add +5.2% |
| KNX Knight-Swift Transportation | 0.61% | 1,485,532 | $85.5M | Add +5.0% |
| PZZA Papa John's Intl Inc. | 0.60% | 2,632,804 | $85.3M | Add +608.9% |
| GOOG Alphabet Inc. Class C | 0.60% | 293,577 | $84.2M | Add +3.5% |
| MOG.A Moog Inc. Class A | 0.59% | 286,709 | $83.9M | Reduce -19.5% |
| CPA Copa Holdings SA Class A | 0.59% | 736,228 | $83.6M | Add +12.5% |
| BABA Alibaba Group Holding-SP ADR | 0.59% | 666,113 | $83.6M | Add +4.2% |
| TAK Takeda Pharmaceutic-SP ADR | 0.58% | 4,430,642 | $82.1M | Add +14.1% |
| SSNC Ss&c Technologies Holdings | 0.58% | 1,205,943 | $81.5M | Add +14.5% |
| IFF Intl Flavors & Fragrances filed as INTERNATIONAL FLAVORS&FRAGRA | 0.57% | 1,105,503 | $80.2M | Add +6.0% |
| GSK GSK PLC-Spon ADR | 0.57% | 1,453,002 | $80.2M | Reduce -15.8% |
| SAP Sap SE-Sponsored ADR | 0.56% | 465,756 | $79.7M | Add +103.0% |
| PBR.A Petroleo Brasil-SP Pref ADR | 0.56% | 4,235,628 | $79.4M | Reduce -22.9% |
| AMX America Movil Sab DE CV | 0.54% | 3,015,888 | $76.8M | Add +9.2% |
| PKE Park Aerospace Corp. | 0.54% | 2,782,337 | $76.2M | Reduce -12.8% |
| CTVA Corteva Inc. | 0.53% | 895,553 | $75.0M | Reduce -61.3% |
| NTR Nutrien Ltd. | 0.50% | 943,685 | $71.2M | Reduce -49.2% |
| TAP Molson Coors Beverage Co. Class B | 0.50% | 1,639,212 | $70.6M | Add +1425.2% |
| TGT Target Corp. | 0.49% | 573,155 | $69.5M | Add +4.7% |
| UNF Unifirst Corp. | 0.49% | 274,466 | $69.1M | Reduce -25.4% |
| JNJ Johnson & Johnson | 0.48% | 279,660 | $68.4M | Reduce -33.3% |
| ABEV Ambev SA-ADR | 0.48% | 23,075,673 | $67.4M | Add +2.1% |
| ELAN Elanco Animal Health Inc. | 0.47% | 2,778,908 | $66.5M | Reduce -33.9% |
| NTGR Netgear Inc. | 0.46% | 3,001,669 | $65.6M | Add +61.8% |
| LH Labcorp Holdings Inc. | 0.46% | 245,306 | $65.5M | Add +10.1% |
| TTE Totalenergies SE | 0.46% | 693,857 | $64.7M | Reduce -16.2% |
| SYY Sysco Corp. | 0.46% | 905,717 | $64.6M | Add +5.7% |
| TSM Taiwan Semiconductor-SP ADR | 0.46% | 190,238 | $64.3M | Add +4.8% |
| INGR Ingredion Inc. | 0.45% | 566,205 | $63.8M | Add +40.3% |
| ARW Arrow Electronics Inc. | 0.44% | 431,768 | $61.9M | Add +5.5% |
| KVUE Kenvue Inc. | 0.43% | 3,484,968 | $60.1M | Add +12.6% |
| MTX Minerals Technologies Inc. | 0.42% | 840,959 | $59.6M | Add +2.6% |
| ALSN Allison Transmission Holding | 0.41% | 500,894 | $58.6M | Add +5.1% |
| ORN Orion Group Holdings Inc. | 0.40% | 5,159,835 | $56.2M | Add +3.0% |
| KSPI JSC Kaspi.kz ADR filed as KASPI KZ JSC | 0.39% | 744,099 | $55.1M | Add +33.3% |
| CAH Cardinal Health Inc. | 0.39% | 257,924 | $54.5M | Reduce -67.0% |
| PHG Koninklijke Philips NVR- NY | 0.39% | 1,988,923 | $54.5M | Add +15.2% |
| JBS JBS NV-A | 0.38% | 2,982,674 | $53.6M | Add +77.7% |
| UBS UBS Group AG-Reg | 0.38% | 1,368,472 | $53.5M | Reduce -0.3% |
| AZO AutoZone Inc. | 0.36% | 15,044 | $50.8M | Add +31.8% |
| PBH Prestige Consumer Healthcare | 0.36% | 854,119 | $50.6M | Add +40.8% |
| FLEX Flex Ltd. filed as FLEXTRONICS INTL LTD | 0.35% | 757,115 | $49.6M | Reduce -5.6% |
| SMG Scotts Miracle-Gro Co. | 0.35% | 808,807 | $49.2M | Add +9.7% |
| LKQ LKQ Corp. | 0.34% | 1,627,869 | $47.8M | Reduce -14.3% |
| STT State Street Corp. | 0.34% | 374,383 | $47.4M | Add +1.1% |
| BNY Bank of New York Mellon Corp. filed as BANK NEW YORK MELLON CORP | 0.31% | 375,005 | $44.5M | Reduce -1.9% |
| TCOM Trip.com Group Ltd.-ADR | 0.31% | 867,912 | $43.2M | Add +2802.7% |
Portfolio Sells Q4 2025 → Q1 2026
| KMT Kennametal Inc. | Reduce -48.5% | 1.35% | −0.87 |
| CAH Cardinal Health Inc. | Reduce -67.0% | 0.39% | −0.84 |
| GIL Gildan Activewear Inc. | Sold out | 0.00% | −0.76 |
| CTVA Corteva Inc. | Reduce -61.3% | 0.53% | −0.65 |
| CX Cemex Sab-Spons ADR Part Cer | Reduce -29.2% | 0.74% | −0.39 |
| NTR Nutrien Ltd. | Reduce -49.2% | 0.50% | −0.37 |
| UWMC Uwm Holdings Corp. | Sold out | 0.00% | −0.35 |
| MU Micron Technology Inc. | Reduce -33.7% | 0.94% | −0.35 |
| SEE Sealed Air Corp. | Reduce -97.9% | 0.01% | −0.34 |
| TIGO Millicom Intl Cellular S.A. | Reduce -32.6% | 1.73% | −0.31 |
| ELAN Elanco Animal Health Inc. | Reduce -33.9% | 0.47% | −0.25 |
| TKR Timken Co. | Reduce -62.0% | 0.18% | −0.25 |
| HCA HCA Healthcare Inc. | Reduce -11.3% | 1.15% | −0.22 |
| WRB WR Berkley Corp. | Reduce -37.3% | 0.24% | −0.20 |
| GTES Gates Industrial Corp. UK Ltd. | Sold out | 0.00% | −0.18 |
| JNJ Johnson & Johnson | Reduce -33.3% | 0.48% | −0.18 |
| INVX Innovex International Inc. | Reduce -14.0% | 1.14% | −0.14 |
| HXL Hexcel Corp. | Reduce -10.8% | 1.28% | −0.13 |
| MCK McKesson Corp. | Reduce -8.4% | 1.06% | −0.12 |
| E Eni SPA-Sponsored ADR | Sold out | 0.00% | −0.12 |
| UBS UBS Group AG-Reg | Reduce -0.3% | 0.38% | −0.11 |
| LKQ LKQ Corp. | Reduce -14.3% | 0.34% | −0.10 |
| JPM JPMorgan Chase & Co. | Reduce -9.5% | 0.30% | −0.09 |
| GSK GSK PLC-Spon ADR | Reduce -15.8% | 0.57% | −0.08 |
| NVS Novartis AG-Sponsored ADR | Reduce -27.9% | 0.20% | −0.07 |
| MOG.A Moog Inc. Class A | Reduce -19.5% | 0.59% | −0.07 |
| VBR Vngrd Mrngst SL-CP Val ETF-U | Reduce -83.3% | 0.01% | −0.07 |
| NWG Natwest Group PLC -Spon ADR | Reduce -97.4% | 0.00% | −0.06 |
| EBMT Eagle Bancorp Montana Inc. | Reduce -84.3% | 0.01% | −0.05 |
| IXUS iShares Core Intl Stock ETF | Reduce -53.5% | 0.04% | −0.05 |
| UNF Unifirst Corp. | Reduce -25.4% | 0.49% | −0.05 |
| HCSG Healthcare Services Group | Reduce -35.0% | 0.06% | −0.04 |
| STM Stmicroelectronics NV-NY SHS | Reduce -29.9% | 0.27% | −0.04 |
| VTV Vanguard Mrngstr Val ETF-Aui | Reduce -94.2% | 0.00% | −0.04 |
| AVDL Avadel Pharmaceuticals Ltd. | Sold out | 0.00% | −0.04 |
| HOLX Hologic Inc. | Sold out | 0.00% | −0.03 |
| BNY Bank of New York Mellon Corp. | Reduce -1.9% | 0.31% | −0.02 |
| NPK National Presto Inds Inc. | Reduce -42.9% | 0.04% | −0.02 |
| FLEX Flex Ltd. | Reduce -5.6% | 0.35% | −0.02 |
| MRK Merck & Co. Inc. | Reduce -6.7% | 1.96% | −0.02 |
| SEB Seaboard Corp. | Sold out | 0.00% | −0.02 |
| NKSH National Bankshares Inc. | Reduce -20.9% | 0.05% | −0.01 |
| VWO Vanguard Ftse Emerging Marke | Sold out | 0.00% | −0.01 |
| HSBC HSBC Holdings PLC-Spons ADR | Sold out | 0.00% | −0.01 |
| VT Vanguard Tot World STK ETF | Reduce -33.9% | 0.01% | −0.01 |
| IPGP Ipg Photonics Corp. | Reduce -35.8% | 0.08% | −0.00 |
| AIG American International Group | Sold out | 0.00% | −0.00 |
| BRC Brady Corporation Class A | Reduce -3.7% | 0.03% | −0.00 |
| ZTO Zto Express Cayman Inc.-ADR | Reduce -23.2% | 0.02% | −0.00 |
| GTE Gran Tierra Energy Inc. | Sold out | 0.00% | −0.00 |
Portfolio Buys Q4 2025 → Q1 2026
| NICE Nice Ltd. - Spon ADR | Add +215.3% | 1.74% | +1.13 |
| AJG Arthur J Gallagher & Co. | New | 1.07% | +1.07 |
| EFX Equifax Inc. | New | 0.95% | +0.95 |
| MHK Mohawk Industries Inc. | Add +137.5% | 1.82% | +0.91 |
| WLK Westlake Corp. | Add +10.3% | 1.52% | +0.58 |
| PZZA Papa John's Intl Inc. | Add +608.9% | 0.60% | +0.50 |
| DOX Amdocs Ltd. | Add +71.5% | 2.15% | +0.49 |
| TAP Molson Coors Beverage Co. Class B | Add +1425.2% | 0.50% | +0.46 |
| SHEL Shell PLC-ADR | Add +5.2% | 1.81% | +0.35 |
| NGG National Grid PLC-SP ADR | Add +68.1% | 0.79% | +0.33 |
| TCOM Trip.com Group Ltd.-ADR | Add +2802.7% | 0.31% | +0.29 |
| LW Lamb Weston Holdings Inc. | New | 0.28% | +0.28 |
| FMS Fresenius Medical Care-ADR | New | 0.26% | +0.26 |
| EPC Edgewell Personal Care Co. | Add +9.8% | 1.02% | +0.22 |
| SNY Sanofi-ADR | Add +27.8% | 1.27% | +0.20 |
| JBS JBS NV-A | Add +77.7% | 0.38% | +0.19 |
| UNH Unitedhealth Group Inc. | Add +55.5% | 1.19% | +0.19 |
| PGR Progressive Corp. | Add +44.2% | 1.22% | +0.17 |
| SLB SLB Ltd. | Add +5.0% | 0.74% | +0.17 |
| PFE Pfizer Inc. | Add +5.5% | 1.81% | +0.17 |
| IMKTA Ingles Markets Inc. Class A | Add +3.8% | 0.80% | +0.17 |
| ARLO Arlo Technologies Inc. | Add +24.6% | 1.03% | +0.16 |
| WAT Waters Corp. | New | 0.15% | +0.15 |
| SAP Sap SE-Sponsored ADR | Add +103.0% | 0.56% | +0.14 |
| TAK Takeda Pharmaceutic-SP ADR | Add +14.1% | 0.58% | +0.12 |
| NTGR Netgear Inc. | Add +61.8% | 0.46% | +0.12 |
| INGR Ingredion Inc. | Add +40.3% | 0.45% | +0.11 |
| AMX America Movil Sab DE CV | Add +9.2% | 0.54% | +0.11 |
| ARW Arrow Electronics Inc. | Add +5.5% | 0.44% | +0.09 |
| NTES Netease Inc.-ADR | New | 0.09% | +0.09 |
| TGT Target Corp. | Add +4.7% | 0.49% | +0.08 |
| PBH Prestige Consumer Healthcare | Add +40.8% | 0.36% | +0.07 |
| VIV Telefonica Brasil-ADR | Add +7.6% | 0.28% | +0.07 |
| DEO Diageo PLC-Sponsored ADR | Add +66.4% | 0.26% | +0.07 |
| AZO AutoZone Inc. | Add +31.8% | 0.36% | +0.06 |
| ALSN Allison Transmission Holding | Add +5.1% | 0.41% | +0.06 |
| EVRG Evergy Inc. | Add +4.2% | 0.69% | +0.06 |
| KSPI JSC Kaspi.kz ADR | Add +33.3% | 0.39% | +0.06 |
| ABEV Ambev SA-ADR | Add +2.1% | 0.48% | +0.05 |
| AOUT American Outdoor Brands Inc. | Add +28.7% | 0.16% | +0.05 |
| UTMD Utah Medical Products Inc. | Add +27.9% | 0.20% | +0.05 |
| ICLR Icon PLC | Add +84.8% | 1.12% | +0.05 |
| KNX Knight-Swift Transportation | Add +5.0% | 0.61% | +0.04 |
| MTX Minerals Technologies Inc. | Add +2.6% | 0.42% | +0.04 |
| MSM MSC Industrial Direct Co. Class A | Add +16.8% | 0.24% | +0.04 |
| LH Labcorp Holdings Inc. | Add +10.1% | 0.46% | +0.04 |
| TSM Taiwan Semiconductor-SP ADR | Add +4.8% | 0.46% | +0.04 |
| IFF Intl Flavors & Fragrances | Add +6.0% | 0.57% | +0.03 |
| SON Sonoco Products Co. | Add +9.5% | 0.15% | +0.03 |
| PHG Koninklijke Philips NVR- NY | Add +15.2% | 0.39% | +0.03 |
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 |