Brandes

Q2 2013 13F · by Kenneth Little, portfolio manager

As of: Jun 30, 2013
Filed: Nov 18, 2013
US stock: $8.0B
Positions: 169
Options notional: $0
Documents: 1· 1 amendment

Picture100.0% US stock

Full picture · of what this 13F reports is US stock

US stock listed on a US exchange 100.0%
Foreign stock not listed in the US 0.0%
Notes debt, at principal 0.0%
Puts at notional value 0.0%
Calls at notional value 0.0%

Moves

First filing on record. Nothing to compare against.

The book

Diversified · behaves like 46 equal-sized positions

Very concentrated
Concentrated
Focused
Diversified

Turnover · first filing on record

Low
Moderate
High

Top 5 positions21% of US stock

0VQJL Te Connectivity Ltd held held5.5%
AMXN America Movil-spn ADR Cl L held held4.4%
TSU TIM Participacoes S.A. held held4.3%
MSFT Microsoft Corp held held3.7%
PBR.A Petroleo Brasileiro S.A.-Petrobras held held3.3%

Revealed late, restated

restated 0 rows corrected by the filer · US stock 0.00%; later quarters recomputed 13F-HR/A · Nov 18, 2013 ↗

Positions169 in this filing · 0 exited


0VQJLTe Connectivity Ltd	5.45%	9,546,231	$435M	held	—	new
AMXNAmerica Movil-spn ADR Cl L	4.41%	16,201,670	$352M	held	—	new
TSUTIM Participacoes S.A.	4.34%	18,609,217	$346M	held	—	new
MSFTMicrosoft Corp	3.67%	8,488,452	$293M	held	—	new
PBR.APetroleo Brasileiro S.A.-Petrobras	3.29%	16,905,454	$263M	held	—	new
CHKChesapeake Energy Corp	3.01%	11,787,120	$240M	held	—	new
WDCWestern Digital Corp.	2.90%	3,730,071	$232M	held	—	new
FLEXFlex Ltd.	2.88%	29,737,590	$230M	held	—	new
PEPPepsiCo, Inc.	2.66%	2,600,637	$213M	held	—	new
GLWCorning Incorporated	2.51%	14,063,374	$200M	held	—	new
WFCWells Fargo & Co.	2.38%	4,602,892	$190M	held	—	new
BSBRBanco Santander (Brasil) SA	2.29%	27,113,872	$183M	held	—	new
CCitigroup Inc.	2.27%	3,778,557	$181M	held	—	new
PFEPfizer Inc.	2.27%	6,471,866	$181M	held	—	new
BACBank of America Corporation	2.14%	13,299,151	$171M	held	—	new
CXCemex S.A.B. de C.V.	2.10%	15,816,850	$167M	held	—	new
INTCIntel Corp	1.93%	6,361,189	$154M	held	—	new
STTState Street Corporation	1.82%	2,227,886	$145M	held	—	new
NTTYYNtt Inc. S/	1.70%	5,213,411	$136M	held	—	new
TTENTotalenergies SE -spon ADR	1.64%	2,686,631	$131M	held	—	new
BNYBank of New York Mellon Corporation	1.60%	4,549,378	$128M	held	—	new
BPBP p.l.c.	1.58%	3,017,898	$126M	held	—	new
MRKMerck & Co., Inc.	1.57%	2,703,540	$126M	held	—	new
KRThe Kroger Co.	1.55%	3,576,172	$124M	held	—	new
unresolvedSafeway Inc	1.54%	5,204,381	$123M	held	—	new
EENI S.p.A.	1.33%	2,586,435	$106M	held	—	new
MASMasco Corporation	1.33%	5,433,241	$106M	held	—	new
AZNNAstrazeneca Plc-spons ADR	1.31%	2,206,222	$104M	held	—	new
TMToyota Motor Corporation	1.29%	851,639	$103M	held	—	new
LLYEli Lilly & Co.	1.27%	2,060,252	$101M	held	—	new
unresolvedAegon NV	1.23%	14,524,784	$98M	held	—	new
unresolvedGlaxosmithkline PLC	1.21%	1,931,938	$97M	held	—	new
TIIAYTelecom Italia S/	1.19%	13,698,640	$95M	held	—	new
unresolvedNews Corp	1.18%	2,607,122	$94M	held	—	new
unresolvedCrh PLC	1.16%	4,575,885	$93M	held	—	new
SNYSanofi	1.11%	1,713,266	$88M	held	—	new
PNCPNC Financial Services Group	1.00%	1,093,628	$80M	held	—	new
ERICEricsson	0.98%	6,960,819	$79M	held	—	new
STXNSeagate Technology Holdings PLC (Ireland)	0.98%	1,737,924	$78M	held	—	new
VIVTelefonica Brasil, S.A.	0.97%	3,250,563	$77M	held	—	new
unresolvedFrance Telecom	0.96%	8,142,049	$77M	held	—	new
MUFGMitsubishi UFJ Financial Group, Inc.	0.92%	11,817,852	$73M	held	—	new
CAJPYCanon Inc S/	0.91%	2,222,128	$73M	held	—	new
EMBJEmbraer S.A.	0.90%	1,953,219	$72M	held	—	new
SMFGSumitomo Mitsui Financial Group, Inc	0.86%	7,486,144	$69M	held	—	new
HMCHonda Motor Co., Ltd.	0.84%	1,794,628	$67M	held	—	new
UNUnilever N V -ny Shares	0.84%	1,712,003	$67M	held	—	new
unresolvedHewlett Packard Co	0.81%	2,618,412	$65M	held	—	new
PKXPOSCO Holdings Inc.	0.76%	937,133	$61M	held	—	new
AXIAYAxia Energia S/	0.55%	20,745,842	$44M	held	—	new
TELFYTelefonica SA	0.53%	3,280,321	$42M	held	—	new
unresolvedAsiainfo-linkage Inc	0.52%	3,578,470	$41M	held	—	new
unresolvedUbs AG	0.49%	2,298,899	$39M	held	—	new
TXTernium S.A.	0.38%	1,344,729	$30M	held	—	new
BCSBarclays PLC	0.37%	1,748,125	$30M	held	—	new
BGGBriggs & Stratton Corp.	0.36%	1,465,890	$29M	held	—	new
unresolvedVodafone Group PLC New	0.35%	962,553	$28M	held	—	new
CYDChina Yuchai International Ltd.	0.35%	1,610,846	$28M	held	—	new
HSBCHSBC Holdings PLC	0.31%	471,190	$24M	held	—	new
CHLChina Mobile Limited	0.27%	420,222	$22M	held	—	new
unresolvedIngram Micro Inc	0.26%	1,093,963	$21M	held	—	new
SWSmurfit Westrock plc	0.26%	1,643,303	$21M	held	—	new
JPMJPMorgan Chase & Co.	0.24%	364,891	$19M	held	—	new
AGROAdecoagro S.a.	0.24%	3,074,859	$19M	held	—	new
unresolvedPortugal Telecom Sgps S A	0.21%	4,275,177	$17M	held	—	new
ORIOld Republic International Corporation	0.19%	1,155,381	$15M	held	—	new
LEALear Corporation	0.18%	240,479	$15M	held	—	new
TAPMolson Coors Beverage Company Class B	0.17%	231,995	$14M	held	—	new
unresolvedSyneron Medical Ltd	0.17%	1,538,349	$13M	held	—	new
unresolvedComverse Inc	0.16%	434,110	$13M	held	—	new
AGIIArgo Group International	0.16%	292,425	$12M	held	—	new
99803EURLaboratory Crp Of Amer Hldgs	0.15%	116,416	$12M	held	—	new
unresolvedCompanhia Paranaense Energ C	0.14%	884,610	$12M	held	—	new
PEGPublic Service Enterprise Group Incorporated	0.14%	334,479	$11M	held	—	new
ADMArcher Daniels Midland Company	0.13%	306,641	$10M	held	—	new
unresolvedComcast Corp. Spl Cl A	0.13%	218,700	$10M	held	—	new
ORCLOracle Corp	0.13%	339,954	$10M	held	—	new
PGProcter & Gamble Company	0.13%	139,573	$11M	held	—	new
SWKStanley Black & Decker, Inc.	0.13%	132,312	$10M	held	—	new
AVPAvon Products, Inc.	0.12%	448,556	$9M	held	—	new
ITRIItron Inc	0.12%	218,721	$9M	held	—	new
SYMCGen Digital Inc.	0.12%	443,841	$10M	held	—	new
9990302DApache Corp	0.11%	108,422	$9M	held	—	new
CLSCelestica, Inc.	0.11%	914,372	$9M	held	—	new
CSCOCisco Systems, Inc. (DE)	0.11%	363,213	$9M	held	—	new
unresolvedStaples Inc	0.11%	567,133	$9M	held	—	new
unresolvedTRW Automotive Holdings Corp.	0.11%	129,931	$9M	held	—	new
unresolvedE M C Corp Mass	0.10%	335,177	$8M	held	—	new
unresolvedJones Group Inc	0.10%	587,645	$8M	held	—	new
unresolvedAon PLC	0.10%	127,198	$8M	held	—	new
CVXChevron Corporation	0.09%	61,540	$7M	held	—	new
MGAMagna International	0.09%	97,950	$7M	held	—	new
MRSHMarsh	0.09%	185,223	$7M	held	—	new
unresolvedSykes Enterprises Incorporated	0.09%	480,949	$8M	held	—	new
unresolvedWillis Group Holdings Public	0.09%	183,848	$7M	held	—	new
KBKB Financial Group Inc	0.08%	224,355	$7M	held	—	new
unresolvedNortel Inversora S A	0.08%	392,023	$7M	held	—	new
BBTTruist Financial Corporation	0.07%	176,400	$6M	held	—	new
BSXBoston Scientific Corp.	0.07%	624,088	$6M	held	—	new
KEYKeyCorp	0.07%	519,167	$6M	held	—	new
SHGShinhan Financial Group Co Ltd	0.07%	169,698	$6M	held	—	new
DFJWisdomTree Japan SmallCap Dividend Fund	0.07%	111,989	$5M	held	—	new
LEN.BLennar Corporation Class B	0.06%	155,178	$4M	held	—	new
OSKOshkosh Corp.	0.06%	126,299	$5M	held	—	new
RFRegions Financial Corp.	0.06%	509,192	$5M	held	—	new
VTYVerint Systems Inc	0.06%	128,898	$5M	held	—	new
VCVisteon Corporation	0.06%	71,370	$5M	held	—	new
FITBFifth Third Bancorp	0.05%	238,782	$4M	held	—	new
TVGrupo Televisa S.A.	0.05%	144,659	$4M	held	—	new
JAKKJakks Pacific Inc	0.05%	378,592	$4M	held	—	new
JOESt. Joe Company	0.05%	175,925	$4M	held	—	new
FIXComfort Systems USA, Inc.	0.04%	213,524	$3M	held	—	new
unresolvedDesarrolladora Homex	0.04%	794,929	$3M	held	—	new
unresolvedNatuzzi S P A	0.04%	1,476,608	$3M	held	—	new
ORNOrion Group Holdings, Inc	0.04%	277,817	$3M	held	—	new
EGEverest Group, Ltd.	0.04%	26,179	$3M	held	—	new
AMEDAmedisys Inc	0.03%	228,880	$3M	held	—	new
ENZNEnzon Pharmaceuticals Inc	0.03%	1,026,723	$2M	held	—	new
GTGoodyear Tire & Rubber	0.03%	150,638	$2M	held	—	new
unresolvedNational Western Life Ins Co	0.03%	14,709	$3M	held	—	new
unresolvedOfficemax Inc DEL	0.03%	201,047	$2M	held	—	new
ALEXAlexander & Baldwin, Inc.	0.02%	39,066	$2M	held	—	new
CFFNCapitol Federal Financial, Inc.	0.02%	168,085	$2M	held	—	new
unresolvedOi Sa-adr	0.02%	758,363	$1M	held	—	new
PBCTPeople's United Financial Inc	0.02%	90,018	$1M	held	—	new
SENEASeneca Foods Corp	0.02%	59,302	$2M	held	—	new
unresolvedSunTrust Banks Inc	0.02%	44,775	$1M	held	—	new
unresolvedUnilever Spn.Adr 1:1	0.02%	39,017	$2M	held	—	new
UTSIUTStarcom Holdings Corp (Cayman Islands)	0.02%	450,160	$1M	held	—	new
unresolvedBaker Michael Corp	0.01%	18,315	$497,000	held	—	new
CRAICRA International, Inc.	0.01%	36,854	$681,000	held	—	new
BCBPrimo Water Corp	0.01%	104,620	$817,000	held	—	new
HBCPHome Bancorp, Inc.	0.01%	51,712	$956,000	held	—	new
HWCCHouston Wire & Cable Co	0.01%	35,350	$489,000	held	—	new
unresolvedMaidenform Brands Inc	0.01%	34,250	$594,000	held	—	new
MLRMiller Industries, Inc.	0.01%	52,852	$813,000	held	—	new
unresolvedOcean Shore Hldg Co New	0.01%	79,608	$1M	held	—	new
unresolvedOmnivision Technologies Inc	0.01%	44,275	$825,000	held	—	new
PTNRPartner Communications	0.01%	157,361	$987,000	held	—	new
DMCDel Monte Corporation	0.01%	26,510	$739,000	held	—	new
AMDAdvanced Micro Devices	0.00%	41,700	$170,000	held	—	new
BCOThe Brink's Company	0.00%	15,223	$232,000	held	—	new
CALYCallaway Golf Company	0.00%	17,307	$69,000	held	—	new
unresolvedCorinthian Colleges Inc	0.00%	14,411	$32,000	held	—	new
unresolvedEssa Bancorp Inc	0.00%	19,085	$134,000	held	—	new
NSITInsight Enterprises Inc	0.00%	20,230	$249,000	held	—	new
IFFInternational Flavors & Fragrances Inc.	0.00%	4,135	$209,000	held	—	new
ISCAInternational Speedway Corp	0.00%	14,339	$340,000	held	—	new
unresolvedInvestors Bancorp Inc	0.00%	15,680	$221,000	held	—	new
unresolvedJoes Jeans Inc	0.00%	20,045	$33,000	held	—	new
7LML & L Energy Inc Com Stk (NV)	0.00%	13,086	$46,000	held	—	new
LRCXLam Research Corp	0.00%	5,355	$237,000	held	—	new
unresolvedLongwei Petroleum Inv Hldg L	0.00%	16,899	$2,000	held	—	new
MKTAYMakita Corp Spon	0.00%	6,440	$349,000	held	—	new
unresolvedPdi Inc	0.00%	10,800	$51,000	held	—	new
unresolvedPacific Sunwear Calif Inc	0.00%	21,700	$79,000	held	—	new
PCRFYPanasonic Corp-spon ADR	0.00%	12,000	$97,000	held	—	new
unresolvedPendrell Corp.	0.00%	22,448	$59,000	held	—	new
UPBDUpbound Group, Inc.	0.00%	13,482	$322,000	held	—	new
unresolvedResearch In Motion	0.00%	23,320	$244,000	held	—	new
unresolvedRichmont Mines Inc	0.00%	13,696	$21,000	held	—	new
unresolvedSimplicity Bancorp	0.00%	26,032	$378,000	held	—	new
SONYSony Group Corporation	0.00%	9,785	$207,000	held	—	new
LUVSouthwest Airlines Co.	0.00%	12,300	$159,000	held	—	new
STMSTMicroelectronics N.V.	0.00%	15,870	$143,000	held	—	new
TECDTech Data Corp	0.00%	6,704	$316,000	held	—	new
unresolvedTelecommunication Sys Inc	0.00%	17,536	$41,000	held	—	new
unresolvedUnited Financial Bancorp Inc	0.00%	10,980	$166,000	held	—	new
MRVLMarvell Technology, Inc.	0.00%	16,000	$187,000	held	—	new