Asset manager

Brandes Investment Partners, LP

13F for the quarter to June 30, 2026, filed August 14, 2026 · SEC CIK 1015079

Reported value: $14.3bn
Positions we cover: 154
Copy, a year: +13.0%
Copy Sharpe ratio: 0.64

How copying its 13F would have done

CopyS&P 500 $10,000 copying Brandes Investment Partners, LP's filed holdings in companies we cover from November 22, 2013, buying on the first trading day after each 13F was filed and holding until the next, against the S&P 500 (total return). Marked weekly, log scale. Before costs and taxes; misses trading within each quarter and anything 13F does not show (shorts, cash, bonds, non-US holdings).

Biggest drop −41.5% (S&P 500 −31.8%); beta 0.98; alpha +0.1% a year (t = 0.03); last 12 months +22.3% against +12.1%.

Reported value by quarter

Brandes Investment Partners, LP: 13F reported value Total value of all positions in each quarter's 13F, as filed (values before 2023 were filed in thousands of dollars and are converted).

View chart data

Period	Reported value
2013-03-31	$8.5B
2013-06-30	$8B
2013-09-30	$7.8B
2013-12-31	$8.1B
2014-03-31	$7.9B
2014-06-30	$8.3B
2014-09-30	$7.5B
2014-12-31	$7.1B
2015-03-31	$7.3B
2015-06-30	$7.8B
2015-09-30	$6.8B
2015-12-31	$6.8B
2016-03-31	$7B
2016-06-30	$6.5B
2016-09-30	$6.7B
2016-12-31	$6.7B
2017-03-31	$6.7B
2017-06-30	$6.3B
2017-09-30	$4.9B
2017-12-31	$4.9B
2018-03-31	$4.7B
2018-06-30	$4.4B
2018-09-30	$4.4B
2018-12-31	$3.9B
2019-03-31	$4.3B
2019-06-30	$4.5B
2019-09-30	$3.9B
2019-12-31	$4.2B
2020-03-31	$2.9B
2020-06-30	$3.3B
2020-09-30	$2.9B
2020-12-31	$3.9B
2021-03-31	$4.2B
2021-06-30	$4.5B
2021-09-30	$4.6B
2021-12-31	$4.6B
2022-03-31	$4.7B
2022-06-30	$4.1B
2022-09-30	$3.8B
2022-12-31	$3.6T
2023-03-31	$4.7B
2023-06-30	$5B
2023-09-30	$5.1B
2023-12-31	$6.6B
2024-03-31	$7.8B
2024-06-30	$8.1B
2024-09-30	$8.9B
2024-12-31	$8.9B
2025-03-31	$9.8B
2025-06-30	$11.1B
2025-09-30	$12.5B
2025-12-31	$13.1B
2026-03-31	$14.1B
2026-06-30	$14.3B

Holdings and moves

Company	Share of portfolio	Value	Shares	Change in shares
CAECAE Inc	3.23%	$461.0m	18.40M	+15.9% Added
EMBJEmbraer S.a.	2.70%	$385.1m	6.04M	+5.8% Added
MHKMohawk Industries Inc	2.38%	$339.4m	2.80M	+6.8% Added
OTEXOpen Text Corp	2.03%	$289.3m	13.06M	+7.6% Added
NICENice Ltd.	1.82%	$260.0m	2.86M	+28.4% Added
BDXBecton Dickinson	1.77%	$253.0m	1.67M	+10.3% Added
TIGOMillicom International Cellular SA	1.75%	$250.0m	2.75M	−15.5% Reduced
CNHCNH Industrial N.V.	1.72%	$245.7m	21.88M	+704.3% Added
MRKMerck & Co.	1.72%	$245.6m	1.91M	−17.0% Reduced
CCitigroup	1.64%	$233.8m	1.67M	−31.7% Reduced
CICigna	1.63%	$232.5m	843.3K	−16.4% Reduced
DOXAmdocs LTD	1.62%	$231.6m	4.58M	−1.6% Reduced
TXTTextron	1.62%	$231.3m	2.52M	−11.2% Reduced
BACBank of America	1.52%	$216.7m	3.80M	−16.7% Reduced
HXLHexcel Corp	1.50%	$213.6m	2.13M	−4.5% Reduced
ICLRIcon PLC	1.44%	$206.0m	1.19M	−17.4% Reduced
EPCEdgewell Personal Care Co	1.33%	$189.6m	7.06M	+5.0% Added
WFCWells Fargo	1.33%	$189.3m	2.29M	−16.9% Reduced
AJGArthur J. Gallagher & Co.	1.31%	$186.6m	813.0K	+15.9% Added
PFEPfizer	1.29%	$183.8m	7.63M	−16.2% Reduced
EFXEquifax	1.28%	$182.9m	1.15M	+54.2% Added
UNHUnitedHealth Group	1.24%	$176.3m	424.2K	−31.8% Reduced
FDXFedEx	1.23%	$176.0m	562.0K	−20.5% Reduced
CVSCVS Health	1.21%	$173.2m	1.67M	−15.0% Reduced
PGRProgressive Corporation	1.21%	$172.5m	789.6K	−9.1% Reduced
HALHalliburton	1.19%	$169.1m	4.98M	−20.8% Reduced
PNCPNC Financial Services	1.17%	$166.8m	677.6K	−16.8% Reduced
SHELShell plc	1.16%	$165.0m	2.13M	−22.7% Reduced
ACGLArch Capital Group	1.03%	$147.4m	1.52M	−14.3% Reduced
ARLOArlo Technologies, Inc.	1.02%	$145.0m	10.75M	+5.2% Added
WKCWorld Kinect Corp	1.02%	$144.9m	4.40M	+2.6% Added
INVXInnovex International, Inc.	1.00%	$142.0m	5.73M	−13.0% Reduced
CPBCampbell's Co	0.99%	$141.1m	6.33M	+3688.5% Added
ZTSZoetis	0.97%	$138.7m	1.93M	New
CMCSAComcast	0.97%	$138.1m	5.63M	−12.5% Reduced
GHMGraham Corp	0.94%	$133.7m	1.08M	−7.8% Reduced
HCAHCA Healthcare	0.85%	$121.3m	311.0K	−9.4% Reduced
EMREmerson Electric	0.82%	$116.4m	813.1K	−14.7% Reduced
INGRIngredion Inc	0.81%	$116.3m	1.23M	+116.8% Added
GLOBGlobant S.a.	0.81%	$115.8m	4.00M	+16.8% Added
WLKWestlake Corp	0.81%	$114.8m	1.57M	−14.6% Reduced
IMKTAIngles Markets Inc	0.78%	$111.6m	1.26M	+0.6% Added
MCKMcKesson	0.74%	$106.2m	140.5K	−18.5% Reduced
PZZAPapa Johns International Inc	0.70%	$100.4m	2.73M	+3.7% Added
KNXKnight-swift Transportation Holdings Inc.	0.70%	$99.4m	1.28M	−14.1% Reduced
CTSHCognizant	0.69%	$98.9m	2.55M	−16.1% Reduced
PBHPrestige Consumer Healthcare Inc.	0.68%	$97.0m	2.05M	+140.1% Added
PKEPark Aerospace Corp	0.68%	$96.9m	2.54M	−8.7% Reduced
SLBSchlumberger	0.67%	$95.8m	2.06M	+0.9% Added
SAPSAP SE	0.66%	$94.6m	614.0K	+31.8% Added
EPAMEPAM Systems, Inc.	0.65%	$93.1m	1.17M	−11.4% Reduced
BABAAlibaba Group Holding Ltd	0.65%	$92.4m	962.2K	+44.5% Added
JBSJBS N.V.	0.64%	$91.2m	7.69M	+158.0% Added
SMGScotts Miracle-gro Co	0.64%	$91.0m	1.34M	+65.2% Added
SSNCSS&C Technologies Holdings Inc	0.64%	$90.9m	1.46M	+21.4% Added
IFFInternational Flavors & Fragrances	0.63%	$89.4m	1.13M	+2.1% Added
ARWArrow Electronics, Inc.	0.61%	$87.2m	408.6K	−5.4% Reduced
SYYSysco	0.61%	$86.8m	1.04M	+14.6% Added
TAPMolson Coors Beverage Co	0.60%	$86.2m	2.21M	+35.0% Added
GOOGLAlphabet Inc. (Class A)	0.60%	$85.0m	237.8K	−32.8% Reduced
OMCOmnicom Group	0.59%	$84.7m	1.16M	+1.5% Added
ORNOrion Group Holdings Inc	0.58%	$82.7m	4.91M	−4.8% Reduced
TSMTaiwan Semiconductor Manufacturing Co LTD	0.57%	$82.0m	171.7K	−9.7% Reduced
CVXChevron Corporation	0.57%	$81.0m	488.5K	+1.1% Added
WTWWillis Towers Watson	0.56%	$80.5m	307.9K	+3.0% Added
AMXAmerica Movil SAB DE Cv/	0.56%	$80.4m	3.09M	+2.6% Added
FISVFiserv	0.56%	$79.3m	1.62M	−16.1% Reduced
GSKGSK plc	0.55%	$77.8m	1.48M	+2.1% Added
EVRGEvergy	0.54%	$76.9m	890.0K	−25.0% Reduced
CTVACorteva, Inc.	0.54%	$76.6m	904.7K	+1.0% Added
AZOAutoZone	0.52%	$74.8m	23.4K	+55.5% Added
TGTTarget Corporation	0.52%	$74.8m	572.4K	−0.1%
ELANElanco Animal Health Inc	0.51%	$73.1m	2.97M	+6.9% Added
JNJJohnson & Johnson	0.49%	$70.3m	276.6K	−1.1% Reduced
LHLabcorp	0.49%	$69.9m	249.5K	+1.7% Added
KVUEKenvue	0.49%	$69.4m	3.63M	+4.2% Added
UBSUBS Group AG	0.49%	$69.3m	1.40M	+2.2% Added
FSTRFoster L B Co	0.45%	$64.6m	1.43M	−3.4% Reduced
ABEVAmbev S.a.	0.45%	$64.5m	20.53M	−11.0% Reduced
KMTKennametal Inc	0.44%	$62.6m	1.79M	−66.1% Reduced
CAHCardinal Health	0.43%	$61.7m	259.8K	+0.7% Added
LKQLKQ Corp	0.42%	$60.6m	2.30M	+41.5% Added
PHGKoninklijke Philips NV	0.42%	$60.1m	2.21M	+11.1% Added
COFCapital One	0.40%	$57.2m	285.3K	New
ALSNAllison Transmission Holdings Inc	0.40%	$57.1m	506.7K	+1.2% Added
VIVTelefonica Brasil S.a.	0.37%	$52.2m	3.96M	+61.8% Added
STTState Street Corporation	0.36%	$51.1m	301.3K	−19.5% Reduced
NTESNetease, Inc.	0.34%	$48.5m	378.5K	+246.0% Added
JPMJPMorgan Chase	0.34%	$48.3m	147.5K	+1.3% Added
FLEXFlex Ltd.	0.33%	$47.1m	290.4K	−61.6% Reduced
TFCTruist Financial	0.29%	$41.6m	834.9K	+0.3%
LWLamb Weston Holdings, Inc.	0.29%	$41.6m	963.2K	+2.2% Added
NTGRNetgear, Inc.	0.29%	$41.2m	1.77M	−41.2% Reduced
ETREntergy	0.28%	$40.4m	352.0K	−5.0% Reduced
HMCHonda Motor Co LTD	0.27%	$38.3m	1.41M	+14.9% Added
SONSonoco Products Co	0.26%	$37.4m	664.6K	+64.6% Added
WRBW. R. Berkley Corporation	0.26%	$36.4m	516.1K	+0.6% Added
TCOMTrip.com Group Ltd	0.24%	$34.7m	871.2K	+0.4%
UTMDUtah Medical Products Inc	0.23%	$32.8m	475.2K	+5.8% Added
CAGConagra Brands Inc.	0.22%	$31.6m	2.35M	+1479.1% Added
UNFUnifirst Corp	0.21%	$29.8m	112.6K	−59.0% Reduced
AOUTAmerican Outdoor Brands, Inc.	0.20%	$28.9m	2.46M	+1.3% Added
BRCBrady Corp	0.20%	$28.3m	309.2K	+421.3% Added
MTXMinerals Technologies Inc	0.15%	$21.2m	286.0K	−66.0% Reduced
TKRTimken Co	0.13%	$18.8m	129.7K	−48.8% Reduced
WPPWPP plc	0.12%	$16.6m	1.07M	+19.0% Added
MSMMSC Industrial Direct Co Inc	0.09%	$12.6m	105.9K	−71.6% Reduced
IPGPIPG Photonics Corp	0.09%	$12.1m	103.2K	+6.3% Added
XRAYDentsply Sirona Inc.	0.08%	$12.0m	1.13M	+20.1% Added
MDPediatrix Medical Group, Inc.	0.07%	$10.2m	402.1K	−13.7% Reduced
OGNOrganon & Co.	0.07%	$9.9m	729.5K	+5.5% Added
HURCHurco Companies Inc	0.07%	$9.6m	417.5K	−29.4% Reduced
HDBHdfc Bank LTD	0.07%	$9.2m	356.5K	+199.0% Added
SCHLScholastic Corp	0.06%	$9.0m	195.1K	−33.2% Reduced
RGPResources Connection, Inc.	0.06%	$8.7m	2.04M	+12.4% Added
OMFOnemain Holdings, Inc.	0.05%	$7.6m	124.6K	+6.7% Added
HCSGHealthcare Services Group Inc	0.05%	$7.5m	306.2K	−33.2% Reduced
ZBHZimmer Biomet	0.05%	$6.7m	77.9K	+31.1% Added
LNSRLensar, Inc.	0.04%	$6.1m	1.08M	+4.9% Added
CFGCitizens Financial Group	0.04%	$5.9m	84.1K	+10.7% Added
FTREFortrea Holdings Inc.	0.04%	$5.8m	335.4K	+9.2% Added
IQVIQVIA	0.04%	$5.7m	29.5K	0.0%
FFIVF5, Inc.	0.04%	$5.7m	13.6K	+5.6% Added
FBINFortune Brands Innovations, Inc.	0.04%	$5.3m	96.9K	New
TFXTeleflex Inc	0.03%	$4.7m	37.1K	+12.1% Added
SEICSEI Investments Co	0.03%	$4.0m	45.8K	+12.9% Added
MUMicron Technology	0.03%	$4.0m	3.5K	−99.1% Reduced
BROBrown & Brown	0.03%	$4.0m	62.1K	New
AVTAvnet Inc	0.03%	$3.8m	42.4K	+12.3% Added
LEVILevi Strauss & Co	0.02%	$3.5m	140.6K	+12.8% Added
COOThe Cooper Companies	0.02%	$3.4m	47.9K	New
AGCOAGCO Corp	0.02%	$3.4m	28.7K	+15.1% Added
TIMBTIM S.a.	0.02%	$3.4m	159.4K	−0.8% Reduced
SHCSotera Health Co	0.02%	$3.4m	189.0K	+12.3% Added
TSNTyson Foods	0.02%	$3.3m	57.1K	+11.6% Added
ZBRAZebra Technologies	0.02%	$3.1m	11.8K	New
MZTIMarzetti Co	0.02%	$3.0m	26.7K	+54.2% Added
TRUTransunion	0.02%	$2.8m	38.2K	+11.5% Added
WHRWhirlpool Corp	0.02%	$2.7m	69.3K	+11.5% Added
EXEExpand Energy	0.02%	$2.7m	29.9K	+13.6% Added
MATMattel Inc	0.02%	$2.7m	192.4K	New
UTHRUnited Therapeutics Corp	0.02%	$2.6m	4.7K	+10.8% Added
HSICHenry Schein	0.02%	$2.5m	30.1K	+16.0% Added
LSTRLandstar System Inc	0.02%	$2.3m	10.9K	+16.6% Added
STMStmicroelectronics N.V.	0.01%	$2.0m	26.5K	−97.6% Reduced
VTMXVesta Real Estate Corporation, S.a.b. De C.v.	0.01%	$1.9m	54.2K	+2.7% Added
ORIOLD Republic International Corp	0.01%	$1.9m	45.3K	+12.1% Added
WTMWhite Mountains Insurance Group LTD	0.01%	$1.5m	701	+0.4%
WFGWest Fraser Timber Co., LTD	0.01%	$979,407	14.5K	+1.0% Added
CNACNA Financial Corp	0.01%	$875,417	18.0K	−1.4% Reduced

Company	Bought (value)	Shares
CNHCNH Industrial N.V.	$215.1m	19.16M
ZTSZoetis	$138.7m	1.93M
CPBCampbell's Co	$137.4m	6.17M
EFXEquifax	$64.3m	405.1K
CAECAE Inc	$63.2m	2.52M
INGRIngredion Inc	$62.6m	661.3K
NICENice Ltd.	$57.5m	632.4K
COFCapital One	$57.2m	285.3K
PBHPrestige Consumer Healthcare Inc.	$56.6m	1.20M
JBSJBS N.V.	$55.8m	4.71M
SMGScotts Miracle-gro Co	$35.9m	527.0K
NTESNetease, Inc.	$34.5m	269.1K
CAGConagra Brands Inc.	$29.6m	2.20M
BABAAlibaba Group Holding Ltd	$28.4m	296.1K
AZOAutoZone	$26.7m	8.3K

Change in shares on the previous quarter's 13F, valued at this quarter's reported price.

Company	Sold (value)	Shares
MUMicron Technology	−$448.2m	−388.3K
KMTKennametal Inc	−$122.0m	−3.48M
CCitigroup	−$108.3m	−774.1K
UNHUnitedHealth Group	−$82.2m	−197.7K
STMStmicroelectronics N.V.	−$80.3m	−1.07M
FLEXFlex Ltd.	−$75.6m	−466.7K
NTRNutrien Ltd.	−$71.2m	−943.7K
BNYBNY Mellon	−$53.6m	−370.4K
MRKMerck & Co.	−$50.3m	−391.6K
SHELShell plc	−$48.5m	−625.5K
TIGOMillicom International Cellular SA	−$46.0m	−507.0K
CICigna	−$45.6m	−165.6K
FDXFedEx	−$45.2m	−144.5K
HALHalliburton	−$44.5m	−1.31M
BACBank of America	−$43.5m	−763.4K

Change in shares on the previous quarter's 13F, valued at this quarter's reported price.

Company	Value last quarter	Shares
NTRNutrien Ltd.	$71.2m	943.7K
WATWaters Corporation	$20.7m	69.5K
MOVMovado Group Inc	$18.1m	739.2K
NKSHNational Bankshares Inc	$7.0m	193.4K
NPKNational Presto Industries Inc	$5.5m	40.2K
HTLDHeartland Express Inc	$2.9m	276.4K
ZTOZTO Express (cayman) Inc.	$2.2m	88.8K
NWGNatwest Group plc	$191,877	12.9K

Industrials21.5%
Health Care19.3%
Financials14.2%
Technology13.4%
Consumer Staples8.7%
Energy6.3%
Consumer Discretionary6.1%
Communication Services6.0%
Materials3.4%
Utilities0.9%
Real Estate0.0%

Share of the value held in companies we cover, by sector.

Period	Copy, a year	S&P 500	Sharpe	S&P 500	Biggest drop	Beta
Whole backtestNovember 22, 2013 to November 2, 2026	+13.0%	+13.6%	0.64	0.75	−41.5%	0.98
2018 onwardsJanuary 5, 2018 to November 2, 2026	+12.7%	+13.9%	0.55	0.66	−41.5%	0.97
Last three yearsNovember 3, 2023 to November 2, 2026	+24.9%	+21.8%	1.34	1.16	−12.4%	0.70
Last yearNovember 7, 2025 to November 2, 2026	+22.6%	+14.2%	1.42	0.84	−7.8%	0.40

From SEC Form 13F data sets. A 13F lists long positions in US-listed shares at the quarter's end, filed up to 45 days later; it does not show shorts, cash, bonds, non-US holdings or trades within the quarter. Positions in companies outside our coverage are not listed here. Research, not investment advice.