BI
	Brandes Investment Partners, LP 13F
	Brandes Investment

	Last update 2024-11-14	186 Stocks (6 new)
	Value $8.89 Bil	Turnover 8 %
	Countries: Top Holdings: ERJ(4.06%)CAE(3.10%)WFC(2.56%)FI(2.48%)CMCSA(2.44%) Portfolio Report

Brandes Investment Partners, LP Profile

Brandes Investment Partners, LP was founded by Charles Brandes in 1974. The firm operates several funds, including the U.S. Equity and Global Equity Funds. As a leading investment advisory firm specializing in managing a variety of global equity and fixed-income assets for investors worldwide, Brandes Investment Partners, LP was among the first investment firms to invest globally using a value approach.

Brandes Investment Partners, LP Investing Philosophy

As a Benjamin Graham disciple, Brandes Investments Partners, LP consistently applies classic value investing principles to all the portfolios it manages. It seeks to purchase out-of-favor securities that are trading at discounts to their intrinsic values. It then holds them until the market recognizes their true worth.

Brandes Investment Partners, LP Portfolio and Latest Trades

Ticker
Ticker
WTW
GD
CAE
CAE
ERJ
CX
WTW
CX
TFC
CTVA
AMAT
ERJ
DRQ
CAE
SNY
INVX
FTRE
WFC
UBS
ERJ
CTSH
FTI
HCA
BAC
FTRE
BABA
OTEX
TAK
PFE
ACGL
SAP
NWLI
ERJ
SNY
TSM
DOX
MCK
AMAT
CTVA
FOX
TXT
CX
OTEX
GSK
CX
TTE
HXL
SNN
ORI
SHEL
GRFS
MU
HCA
CMCSA
WPP
WFC
MU
GRFS
BK
WRB
ETR
ELAN
DOX
ORI
MU
PFE
FDX
PNC
JPM
KNX
EPC
CAH
E
CMCSA
HMC
CX
KVUE
WKC
CMCSA
DOX
NVS
CVS
DRQ
HAL
TSM
PFE
KVUE
SSNC
CTVA
KMT
UBS
FI
ERJ
SLB
GRFS
ENIC
TIGO
LKQ
MCK
C

Ticker	Company	Date	Action	Impact %	Price Range	Price	Price Change from Avrg%	Comment	Current Shares	Share Change
Ticker	Company	Date	Action	Impact %	Price Range	Price	Price Change from Avrg%	Comment	Current Shares	Share Change
WTW	Willis Towers Watson PLC	2023-09-30	Add	+1.65%	● 196.4 ($213.39) 235.08	$313.24	46.79%	Add 201.27%	605,519	404,530
GD	General Dynamics Corp	2023-03-31	Reduce	-1.50%	● 216.75 ($231.05) 248.69	$265.12	14.75%	Reduce -87.93%	29,602	-215,713
CAE	CAE Inc	2024-03-31	Add	+1.43%	● 18.45 ($20.08) 21.46	$23.57	17.38%	Add 10901.94%	5,431,216	5,381,850
CAE	CAE Inc	2024-06-30	Add	+1.29%	● 18.03 ($19.37) 21.1	$23.57	21.68%	Add 103.85%	11,071,485	5,640,269
ERJ	Embraer SA	2024-06-30	Reduce	-1.17%	● 23.79 ($27.07) 30.93	$37.77	39.53%	Reduce -21.75%	12,268,752	-3,409,815
CX	Cemex SAB de CV	2023-09-30	Reduce	-1.06%	● 6.5 ($7.42) 8.37	$5.40	-27.22%	Reduce -28.34%	18,818,285	-7,442,264
WTW	Willis Towers Watson PLC	2024-09-30	Reduce	-1.06%	● 257.34 ($279.76) 294.53	$313.24	11.97%	Reduce -55.15%	268,502	-330,129
CX	Cemex SAB de CV	2023-06-30	Reduce	-1.02%	● 5.24 ($6.35) 7.3	$5.40	-14.96%	Reduce -24.89%	26,260,549	-8,704,299
TFC	Truist Financial Corp	2023-03-31	Reduce	-1.00%	● 30.56 ($43.65) 50.39	$43.91	0.60%	Reduce -65.65%	432,639	-826,965
CTVA	Corteva Inc	2023-12-31	Add	+0.99%	● 43.55 ($47.68) 51.56	$60.89	27.71%	Add 232.89%	1,932,836	1,352,208
AMAT	Applied Materials Inc	2024-03-31	Sold Out	-0.98%	● 149 ($183.46) 212.61	$173.65	-5.35%	Sold Out	0	-399,108
ERJ	Embraer SA	2023-03-31	Add	+0.96%	● 10.66 ($13.31) 16.37	$37.77	183.77%	Add 17.59%	18,484,175	2,764,894
DRQ	Dril-Quip Inc	2024-09-30	Sold Out	-0.85%	● 14.26 ($16.27) 18.59	$15.27	-6.15%	Sold Out	0	-3,732,716
CAE	CAE Inc	2024-09-30	Add	+0.76%	● 16.29 ($17.92) 19.28	$23.57	31.53%	Add 32.69%	14,690,492	3,619,007
SNY	Sanofi SA	2023-03-31	Add	+0.75%	● 45.86 ($48.64) 54.45	$48.45	-0.39%	Add 164.14%	1,036,728	644,231
INVX	Innovex International Inc	2024-09-30	New Buy	+0.74%	● 14.58 ($15.38) 16.41	$16.62	8.06%	New holding	4,462,382	4,462,382
FTRE	Fortrea Holdings Inc	2024-09-30	Reduce	-0.69%	● 19.48 ($23.49) 27.92	$17.64	-24.90%	Reduce -98.17%	44,594	-2,393,565
WFC	Wells Fargo & Co	2023-03-31	Add	+0.68%	● 36.23 ($43.59) 48.5	$71.19	63.32%	Add 30.23%	3,689,651	856,484
UBS	UBS Group AG	2023-03-31	Add	+0.66%	● 18.2 ($20.86) 22.16	$32.21	54.41%	Add 1240.12%	1,574,155	1,456,691
ERJ	Embraer SA	2024-09-30	Reduce	-0.66%	● 25.9 ($31.72) 36.95	$37.77	19.07%	Reduce -16.72%	10,217,696	-2,051,056
CTSH	Cognizant Technology Solutions Corp	2024-06-30	Add	+0.66%	● 64.26 ($67.8) 71.84	$77.17	13.82%	Add 56.13%	2,191,388	787,808
FTI	TechnipFMC PLC	2023-09-30	Sold Out	-0.65%	● 16.25 ($18.87) 21.41	$32.47	72.07%	Sold Out	0	-1,951,169
HCA	HCA Healthcare Inc	2023-06-30	Reduce	-0.64%	● 263.68 ($277.79) 303.48	$305.79	10.08%	Reduce -36.03%	202,279	-113,930
BAC	Bank of America Corp	2023-03-31	Add	+0.64%	● 26.97 ($33.01) 36.77	$45.78	38.69%	Add 36.84%	3,896,662	1,049,131
FTRE	Fortrea Holdings Inc	2023-09-30	Add	+0.63%	● 25.11 ($29.59) 37	$17.64	-40.39%	Add 483.48%	1,365,068	1,131,114
BABA	Alibaba Group Holding Ltd	2023-03-31	Add	+0.63%	● 81 ($100.17) 120.57	$81.68	-18.46%	Add 2097.26%	303,573	289,757
OTEX	Open Text Corp	2024-09-30	Add	+0.62%	● 28.49 ($31.5) 33.64	$27.56	-12.51%	Add 90.05%	3,487,074	1,652,239
TAK	Takeda Pharmaceutical Co Ltd	2023-03-31	Add	+0.60%	● 15.28 ($15.93) 16.48	$13.04	-18.14%	Add 1435.19%	1,817,972	1,699,552
PFE	Pfizer Inc	2023-12-31	Add	+0.60%	● 26.13 ($30.23) 33.94	$26.41	-12.64%	Add 46.58%	4,334,849	1,377,426
ACGL	Arch Capital Group Ltd	2024-06-30	New Buy	+0.59%	● 89.76 ($97.24) 103.36	$91.99	-5.40%	New holding	476,907	476,907
SAP	SAP SE	2023-03-31	Add	+0.57%	● 103.98 ($117.3) 126.55	$253.50	116.11%	Add 1235.99%	229,310	212,146
NWLI	National Western Life Group Inc	2023-12-31	Reduce	-0.53%	● 417.19 ($475.72) 486.79	$499.98	5.10%	Reduce -88.33%	8,158	-61,766
ERJ	Embraer SA	2024-03-31	Reduce	-0.53%	● 17.1 ($19.85) 27.04	$37.77	90.28%	Reduce -10.72%	15,678,567	-1,883,281
SNY	Sanofi SA	2023-12-31	Add	+0.53%	● 43.13 ($48.9) 54.79	$48.45	-0.92%	Add 64.61%	1,770,572	694,957
TSM	Taiwan Semiconductor Manufacturing Co Ltd	2023-03-31	Add	+0.52%	● 74.03 ($89.76) 97.96	$201.45	124.43%	Add 535.88%	311,551	262,556
DOX	Amdocs Ltd	2024-06-30	Add	+0.52%	● 74.9 ($82.19) 90.23	$83.67	1.80%	Add 31.1%	2,260,811	536,359
MCK	McKesson Corp	2024-09-30	Add	+0.51%	● 479.06 ($556.84) 630.38	$593.73	6.62%	Add 32.28%	376,309	91,839
AMAT	Applied Materials Inc	2023-09-30	Reduce	-0.51%	● 134.04 ($143.4) 153.99	$173.65	21.09%	Reduce -30.92%	394,139	-176,450
CTVA	Corteva Inc	2024-03-31	Add	+0.50%	● 44.41 ($51.65) 57.67	$60.89	17.89%	Add 34.69%	2,603,324	670,488
FOX	Fox Corp	2024-09-30	Sold Out	-0.50%	● 31.8 ($36.05) 38.86	$46.54	29.10%	Sold Out	0	-1,273,492
TXT	Textron Inc	2023-12-31	Add	+0.50%	● 74.36 ($77.54) 80.75	$78.04	0.64%	Add 49.33%	1,235,966	408,290
CX	Cemex SAB de CV	2024-03-31	Reduce	-0.48%	● 7.41 ($8.01) 9.01	$5.40	-32.58%	Reduce -22.71%	13,838,965	-4,065,878
OTEX	Open Text Corp	2024-06-30	Add	+0.48%	● 27.7 ($32.07) 38.41	$27.56	-14.06%	Add 236.78%	1,834,835	1,290,011
GSK	GSK PLC	2023-03-31	Add	+0.47%	● 33.5 ($34.99) 36.43	$32.08	-8.32%	Add 2900.95%	641,843	620,455
CX	Cemex SAB de CV	2023-03-31	Add	+0.46%	● 4.12 ($5.08) 5.67	$5.40	6.30%	Add 12.6%	34,964,848	3,913,008
TTE	TotalEnergies SE	2023-03-31	Add	+0.46%	● 55.7 ($61.5) 64.88	$57.56	-6.41%	Add 1471.55%	391,881	366,945
HXL	Hexcel Corp	2024-09-30	New Buy	+0.45%	● 59.34 ($62.86) 69.03	$66.56	5.89%	New holding	653,607	653,607
SNN	Smith & Nephew PLC	2023-12-31	New Buy	+0.45%	● 21.55 ($24.78) 27.43	$23.89	-3.59%	New holding	1,095,449	1,095,449
ORI	Old Republic International Corp	2023-09-30	Reduce	-0.44%	● 24.97 ($26.98) 28.18	$34.55	28.06%	Reduce -52.08%	795,565	-864,591
SHEL	Shell PLC	2023-03-31	Add	+0.44%	● 53.95 ($58.83) 62.58	$65.91	12.03%	Add 78.79%	813,866	358,666
GRFS	Grifols SA	2023-12-31	Add	+0.43%	● 7.71 ($9.31) 11.56	$7.06	-24.17%	Add 22.19%	13,516,011	2,454,730
MU	Micron Technology Inc	2024-06-30	Reduce	-0.43%	● 106.77 ($126.02) 153.45	$97.36	-22.74%	Reduce -24.13%	901,550	-286,795
HCA	HCA Healthcare Inc	2023-12-31	Add	+0.43%	● 221.81 ($247.16) 275.85	$305.79	23.72%	Add 50.14%	313,746	104,774
CMCSA	Comcast Corp	2024-03-31	Add	+0.43%	● 41.24 ($43.14) 46.73	$36.38	-15.67%	Add 22.31%	4,231,023	771,735
WPP	WPP PLC	2023-03-31	Add	+0.42%	● 50.09 ($58.54) 63.4	$43.97	-24.89%	Add 2330.87%	349,753	335,365
WFC	Wells Fargo & Co	2024-06-30	Reduce	-0.41%	● 56.41 ($59.04) 62.34	$71.19	20.58%	Reduce -12.31%	3,903,281	-547,931
MU	Micron Technology Inc	2023-03-31	Add	+0.41%	● 50.37 ($58.6) 63.87	$97.36	66.14%	Add 39.69%	1,138,343	323,458
GRFS	Grifols SA	2023-03-31	Add	+0.40%	● 6.65 ($8.67) 10.69	$7.06	-18.57%	Add 33.39%	10,293,456	2,576,798
BK	Bank of New York Mellon Corp	2023-03-31	Add	+0.40%	● 42.58 ($48.49) 51.92	$75.94	56.61%	Add 38.54%	1,479,603	411,639
WRB	WR Berkley Corp	2023-06-30	Add	+0.39%	● 37.12 ($39.36) 42.24	$58.59	48.86%	Add 390.17%	614,058	325,856
ETR	Entergy Corp	2024-06-30	New Buy	+0.39%	● 50.31 ($53.9) 57.11	$77.56	43.90%	New holding	598,520	299,260
ELAN	Elanco Animal Health Inc	2023-03-31	Add	+0.38%	● 8.79 ($11.8) 14.58	$11.70	-0.85%	Add 1124.34%	2,060,972	1,892,639
DOX	Amdocs Ltd	2024-03-31	Add	+0.38%	● 87.06 ($91.14) 93.57	$83.67	-8.20%	Add 22.94%	1,724,452	321,806
ORI	Old Republic International Corp	2024-06-30	Reduce	-0.38%	● 28.64 ($30.62) 32.21	$34.55	12.83%	Reduce -97.64%	23,329	-965,411
MU	Micron Technology Inc	2024-09-30	Add	+0.38%	● 86.27 ($104.58) 136.82	$97.36	-6.90%	Add 35.87%	1,224,904	323,354
PFE	Pfizer Inc	2023-03-31	Add	+0.37%	● 39.39 ($43.19) 51.26	$26.41	-38.85%	Add 21.82%	2,411,559	431,989
FDX	FedEx Corp	2023-03-31	Add	+0.37%	● 177.27 ($203.04) 228.49	$277.62	36.73%	Add 19.63%	467,222	76,675
PNC	PNC Financial Services Group Inc	2023-03-31	Add	+0.37%	● 122.13 ($150.79) 168.82	$195.71	29.79%	Add 28.54%	619,882	137,636
JPM	JPMorgan Chase & Co	2024-03-31	Reduce	-0.37%	● 167.09 ($180.44) 200.3	$247.47	37.15%	Reduce -28.64%	357,057	-143,275
KNX	Knight-Swift Transportation Holdings Inc	2024-06-30	New Buy	+0.37%	● 46.23 ($48.96) 54.78	$54.96	12.25%	New holding	606,855	606,855
EPC	Edgewell Personal Care Co	2023-09-30	Add	+0.36%	● 36.67 ($38.61) 41.7	$32.37	-16.16%	Add 87.4%	1,074,269	501,032
CAH	Cardinal Health Inc	2024-09-30	Reduce	-0.36%	● 93.74 ($104.55) 114.66	$124.03	18.63%	Reduce -22.63%	1,017,656	-297,660
E	Eni SpA	2023-03-31	Add	+0.36%	● 25.8 ($29.28) 32.03	$28.37	-3.11%	Add 1190.82%	656,096	605,268
CMCSA	Comcast Corp	2023-03-31	Add	+0.36%	● 35.28 ($37.81) 41.11	$36.38	-3.78%	Add 18.35%	2,895,970	448,987
HMC	Honda Motor Co Ltd	2023-03-31	Add	+0.35%	● 23.27 ($25.1) 26.7	$28.31	12.79%	Add 1360.59%	683,207	636,431
CX	Cemex SAB de CV	2024-09-30	Add	+0.35%	● 5.6 ($6.28) 6.88	$5.40	-14.01%	Add 39.75%	18,122,978	5,155,283
KVUE	Kenvue Inc	2024-06-30	Add	+0.35%	● 17.96 ($19.37) 21.23	$21.03	8.57%	Add 3620.88%	1,615,904	1,572,476
WKC	World Kinect Corp	2023-12-31	Add	+0.34%	● 18.14 ($21.01) 23.32	$27.40	30.41%	Add 65.54%	2,520,778	998,019
CMCSA	Comcast Corp	2024-06-30	Add	+0.34%	● 36.9 ($39.13) 42.28	$36.38	-7.03%	Add 16.56%	4,931,630	700,607
DOX	Amdocs Ltd	2023-12-31	Add	+0.34%	● 78.69 ($83.32) 88.56	$83.67	0.42%	Add 22.15%	1,402,646	254,304
NVS	Novartis AG	2023-03-31	Add	+0.33%	● 80.03 ($87.33) 92.81	$99.37	13.79%	Add 919.03%	189,651	171,040
CVS	CVS Health Corp	2023-06-30	Add	+0.33%	● 66.65 ($71.2) 77.75	$51.57	-27.57%	Add 24.58%	1,187,118	234,200
DRQ	Dril-Quip Inc	2023-09-30	Add	+0.33%	● 22.97 ($27.14) 30.53	$15.27	-43.74%	Add 36.84%	2,206,515	593,982
HAL	Halliburton Co	2023-03-31	Add	+0.33%	● 29.42 ($37.04) 42.66	$28.20	-23.87%	Add 19.08%	3,108,366	497,957
TSM	Taiwan Semiconductor Manufacturing Co Ltd	2024-09-30	Reduce	-0.33%	● 147.95 ($170.4) 191.05	$201.45	18.22%	Reduce -35.01%	285,885	-154,014
PFE	Pfizer Inc	2023-06-30	Add	+0.32%	● 36.12 ($38.95) 41.79	$26.41	-32.20%	Add 17.7%	2,838,414	426,855
KVUE	Kenvue Inc	2024-09-30	Add	+0.32%	● 17.7 ($20.72) 23.39	$21.03	1.50%	Add 76.39%	2,850,325	1,234,421
SSNC	SS&C Technologies Holdings Inc	2023-06-30	New Buy	+0.32%	● 54.63 ($56.85) 60.6	$77.12	35.66%	New holding	265,050	265,050
CTVA	Corteva Inc	2023-09-30	Add	+0.32%	● 49.08 ($52.96) 58	$60.89	14.97%	Add 122.31%	580,628	319,450
KMT	Kennametal Inc	2023-12-31	Add	+0.32%	● 22.42 ($24.1) 26.87	$24.08	-0.08%	Add 1186.73%	890,034	820,864
UBS	UBS Group AG	2023-12-31	Add	+0.31%	● 23.36 ($26.3) 31.19	$32.21	22.47%	Add 50.61%	1,946,975	654,236
FI	Fiserv Inc	2023-03-31	Add	+0.31%	● 99.4 ($110) 118.26	$204.47	85.88%	Add 14.42%	1,034,045	130,323
ERJ	Embraer SA	2023-06-30	Reduce	-0.31%	● 12.99 ($15.26) 17.08	$37.77	147.51%	Reduce -4.81%	17,595,015	-889,160
SLB	Schlumberger Ltd	2024-09-30	New Buy	+0.31%	● 39.57 ($44.52) 49.67	$39.87	-10.44%	New holding	649,067	649,067
GRFS	Grifols SA	2024-03-31	Add	+0.31%	● 5.47 ($7.81) 11.38	$7.06	-9.60%	Add 26.63%	17,114,866	3,598,855
ENIC	Enel Chile SA	2023-03-31	Add	+0.30%	● 2.04 ($2.26) 2.7	$2.92	29.20%	Add 457.33%	6,274,925	5,149,036
TIGO	Millicom International Cellular SA	2023-09-30	Add	+0.30%	● 15.12 ($15.95) 17.16	$24.61	54.29%	Add 28.74%	4,394,992	981,159
LKQ	LKQ Corp	2024-09-30	New Buy	+0.30%	● 38.47 ($41.2) 46.03	$37.29	-9.49%	New holding	671,361	671,361
MCK	McKesson Corp	2023-03-31	Add	+0.30%	● 335.35 ($361.21) 386.05	$593.73	64.37%	Add 15.55%	293,276	39,475
C	Citigroup Inc	2023-03-31	Add	+0.30%	● 43.11 ($49.07) 52.35	$73.50	49.79%	Add 15.53%	2,251,323	302,588

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Total 1217

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