13-F holdings, Q2 2026
Brandes Investment Partners, LP
A 13-F is the report large US investment managers file with the SEC each quarter, listing the stocks they held at quarter end.
- Reported value
- $14.3B
- Positions
- 193
- Filed
- Data as of
These holdings are as of , 133 days ago.
13-Fs for Q3 2026 are due by .
See this manager's Holder IQ and how the book overlaps yours
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Top holdings
- CAE$461M18,397,515 shares3.2% of the book
- EMBJ$385.1M6,036,219 shares2.7% of the book
- MHK$339.4M2,797,526 shares2.4% of the book
- OTEX$289.3M13,061,929 shares2% of the book
- GRFS$267.7M37,816,285 shares1.9% of the book
- NICE$260M2,861,960 shares1.8% of the book
- BDX$253M1,671,540 shares1.8% of the book
- TIGO$250M2,754,039 shares1.8% of the book
- CNH$245.7M21,878,681 shares1.7% of the book
- MRK$245.6M1,910,947 shares1.7% of the book
What changed this quarter
17 new positions and 11 sold out, against Q1 2026. Added and trimmed positions use the change in split-adjusted shares at the Q2 2026 implied price; full exits use their Q1 2026 reported value, not sale proceeds.
Largest buys
- CNH
CNH INDL N V
+$215.1M
+704.3% shares
Your stake and evidence for CNH
What it means for you
This public view does not read your holdings or watchlist; open the member view to check your stake.
Use this to decide what to research, rather than as an instruction to copy a trade.
What happened
Reported shares increased between Q1 2026 and Q2 2026.
Displayed change: +$215.1M. The current book reports 21,878,681 shares.
Why it can matter
A change between quarter-end disclosures can prompt a question about the manager's exposure. It does not reveal the trade date, the execution price or why the position changed; a full exit is not proof of a bearish decision.
How we got this
For an added or trimmed position, subtract split-adjusted prior shares from current shares, then multiply by the current book's reported value per share; this is not the execution price.
21,878,681 current shares − 2,720,192 prior shares on the same basis = +19,158,489 shares.
Comparable books exclude identified CUSIP, share-basis and new-security events from trades. Exit-size bands describe prior book weight, not the manager's intent.
Where the data comes from
SEC 13F quarter-end holdings for Q1 2026 and Q2 2026; these delayed disclosures omit shorts and many other assets.
Current source filed .
Technical details
Reported dollar change: 215149935.99864283 USD. Current reported shares: 21878681. Prior shares on current basis: 2720192.
- ZTS
ZOETIS INC
+$138.7M
New
Your stake and evidence for ZTS
What it means for you
This public view does not read your holdings or watchlist; open the member view to check your stake.
Use this to decide what to research, rather than as an instruction to copy a trade.
What happened
A position newly appears in the Q2 2026 book.
Displayed change: +$138.7M. The current book reports 1,930,651 shares.
Why it can matter
A change between quarter-end disclosures can prompt a question about the manager's exposure. It does not reveal the trade date, the execution price or why the position changed; a full exit is not proof of a bearish decision.
How we got this
A new position uses its current quarter's reported dollar value; this is not the amount spent buying it.
Comparable books exclude identified CUSIP, share-basis and new-security events from trades. Exit-size bands describe prior book weight, not the manager's intent.
Where the data comes from
SEC 13F quarter-end holdings for Q1 2026 and Q2 2026; these delayed disclosures omit shorts and many other assets.
Current source filed .
Technical details
Reported dollar change: 138737455 USD. Current reported shares: 1930651. Prior shares on current basis: not recorded.
- CPB
THE CAMPBELLS COMPANY
+$137.4M
+3,688.5% shares
Your stake and evidence for CPB
What it means for you
This public view does not read your holdings or watchlist; open the member view to check your stake.
Use this to decide what to research, rather than as an instruction to copy a trade.
What happened
Reported shares increased between Q1 2026 and Q2 2026.
Displayed change: +$137.4M. The current book reports 6,334,950 shares.
Why it can matter
A change between quarter-end disclosures can prompt a question about the manager's exposure. It does not reveal the trade date, the execution price or why the position changed; a full exit is not proof of a bearish decision.
How we got this
For an added or trimmed position, subtract split-adjusted prior shares from current shares, then multiply by the current book's reported value per share; this is not the execution price.
6,334,950 current shares − 167,214 prior shares on the same basis = +6,167,736 shares.
Comparable books exclude identified CUSIP, share-basis and new-security events from trades. Exit-size bands describe prior book weight, not the manager's intent.
Where the data comes from
SEC 13F quarter-end holdings for Q1 2026 and Q2 2026; these delayed disclosures omit shorts and many other assets.
Current source filed .
Technical details
Reported dollar change: 137355480.23319772 USD. Current reported shares: 6334950. Prior shares on current basis: 167214.
- EFX
EQUIFAX INC
+$64.3M
+54.2% shares
Your stake and evidence for EFX
What it means for you
This public view does not read your holdings or watchlist; open the member view to check your stake.
Use this to decide what to research, rather than as an instruction to copy a trade.
What happened
Reported shares increased between Q1 2026 and Q2 2026.
Displayed change: +$64.3M. The current book reports 1,152,350 shares.
Why it can matter
A change between quarter-end disclosures can prompt a question about the manager's exposure. It does not reveal the trade date, the execution price or why the position changed; a full exit is not proof of a bearish decision.
How we got this
For an added or trimmed position, subtract split-adjusted prior shares from current shares, then multiply by the current book's reported value per share; this is not the execution price.
1,152,350 current shares − 747,201 prior shares on the same basis = +405,149 shares.
Comparable books exclude identified CUSIP, share-basis and new-security events from trades. Exit-size bands describe prior book weight, not the manager's intent.
Where the data comes from
SEC 13F quarter-end holdings for Q1 2026 and Q2 2026; these delayed disclosures omit shorts and many other assets.
Current source filed .
Technical details
Reported dollar change: 64305944.71517334 USD. Current reported shares: 1152350. Prior shares on current basis: 747201.
- CAE
CAE INC
+$63.2M
+15.9% shares
Your stake and evidence for CAE
What it means for you
This public view does not read your holdings or watchlist; open the member view to check your stake.
Use this to decide what to research, rather than as an instruction to copy a trade.
What happened
Reported shares increased between Q1 2026 and Q2 2026.
Displayed change: +$63.2M. The current book reports 18,397,515 shares.
Why it can matter
A change between quarter-end disclosures can prompt a question about the manager's exposure. It does not reveal the trade date, the execution price or why the position changed; a full exit is not proof of a bearish decision.
How we got this
For an added or trimmed position, subtract split-adjusted prior shares from current shares, then multiply by the current book's reported value per share; this is not the execution price.
18,397,515 current shares − 15,874,667 prior shares on the same basis = +2,522,848 shares.
Comparable books exclude identified CUSIP, share-basis and new-security events from trades. Exit-size bands describe prior book weight, not the manager's intent.
Where the data comes from
SEC 13F quarter-end holdings for Q1 2026 and Q2 2026; these delayed disclosures omit shorts and many other assets.
Current source filed .
Technical details
Reported dollar change: 63222666.33607071 USD. Current reported shares: 18397515. Prior shares on current basis: 15874667.
Largest sells
- MU
MICRON TECHNOLOGY INC
−$448.2M
-99.1% shares
Your stake and evidence for MU
What it means for you
This public view does not read your holdings or watchlist; open the member view to check your stake.
Use this to decide what to research, rather than as an instruction to copy a trade.
What happened
Reported shares decreased between Q1 2026 and Q2 2026.
Displayed change: −$448.2M. The current book reports 3,477 shares.
Why it can matter
A change between quarter-end disclosures can prompt a question about the manager's exposure. It does not reveal the trade date, the execution price or why the position changed; a full exit is not proof of a bearish decision.
How we got this
For an added or trimmed position, subtract split-adjusted prior shares from current shares, then multiply by the current book's reported value per share; this is not the execution price.
3,477 current shares − 391,792 prior shares on the same basis = -388,315 shares.
Comparable books exclude identified CUSIP, share-basis and new-security events from trades. Exit-size bands describe prior book weight, not the manager's intent.
Where the data comes from
SEC 13F quarter-end holdings for Q1 2026 and Q2 2026; these delayed disclosures omit shorts and many other assets.
Current source filed .
Technical details
Reported dollar change: -448225069.1069887 USD. Current reported shares: 3477. Prior shares on current basis: 391792.
- KMT
KENNAMETAL INC
−$122M
-66.1% shares
Your stake and evidence for KMT
What it means for you
This public view does not read your holdings or watchlist; open the member view to check your stake.
Use this to decide what to research, rather than as an instruction to copy a trade.
What happened
Reported shares decreased between Q1 2026 and Q2 2026.
Displayed change: −$122M. The current book reports 1,785,604 shares.
Why it can matter
A change between quarter-end disclosures can prompt a question about the manager's exposure. It does not reveal the trade date, the execution price or why the position changed; a full exit is not proof of a bearish decision.
How we got this
For an added or trimmed position, subtract split-adjusted prior shares from current shares, then multiply by the current book's reported value per share; this is not the execution price.
1,785,604 current shares − 5,265,280 prior shares on the same basis = -3,479,676 shares.
Comparable books exclude identified CUSIP, share-basis and new-security events from trades. Exit-size bands describe prior book weight, not the manager's intent.
Where the data comes from
SEC 13F quarter-end holdings for Q1 2026 and Q2 2026; these delayed disclosures omit shorts and many other assets.
Current source filed .
Technical details
Reported dollar change: -121962645.35899112 USD. Current reported shares: 1785604. Prior shares on current basis: 5265280.
- C
CITIGROUP INC
−$108.3M
-31.7% shares
Your stake and evidence for C
What it means for you
This public view does not read your holdings or watchlist; open the member view to check your stake.
Use this to decide what to research, rather than as an instruction to copy a trade.
What happened
Reported shares decreased between Q1 2026 and Q2 2026.
Displayed change: −$108.3M. The current book reports 1,670,362 shares.
Why it can matter
A change between quarter-end disclosures can prompt a question about the manager's exposure. It does not reveal the trade date, the execution price or why the position changed; a full exit is not proof of a bearish decision.
How we got this
For an added or trimmed position, subtract split-adjusted prior shares from current shares, then multiply by the current book's reported value per share; this is not the execution price.
1,670,362 current shares − 2,444,489 prior shares on the same basis = -774,127 shares.
Comparable books exclude identified CUSIP, share-basis and new-security events from trades. Exit-size bands describe prior book weight, not the manager's intent.
Where the data comes from
SEC 13F quarter-end holdings for Q1 2026 and Q2 2026; these delayed disclosures omit shorts and many other assets.
Current source filed .
Technical details
Reported dollar change: -108347534.41474721 USD. Current reported shares: 1670362. Prior shares on current basis: 2444489.
- UNH
UNITEDHEALTH GROUP INC
−$82.2M
-31.8% shares
Your stake and evidence for UNH
What it means for you
This public view does not read your holdings or watchlist; open the member view to check your stake.
Use this to decide what to research, rather than as an instruction to copy a trade.
What happened
Reported shares decreased between Q1 2026 and Q2 2026.
Displayed change: −$82.2M. The current book reports 424,159 shares.
Why it can matter
A change between quarter-end disclosures can prompt a question about the manager's exposure. It does not reveal the trade date, the execution price or why the position changed; a full exit is not proof of a bearish decision.
How we got this
For an added or trimmed position, subtract split-adjusted prior shares from current shares, then multiply by the current book's reported value per share; this is not the execution price.
424,159 current shares − 621,884 prior shares on the same basis = -197,725 shares.
Comparable books exclude identified CUSIP, share-basis and new-security events from trades. Exit-size bands describe prior book weight, not the manager's intent.
Where the data comes from
SEC 13F quarter-end holdings for Q1 2026 and Q2 2026; these delayed disclosures omit shorts and many other assets.
Current source filed .
Technical details
Reported dollar change: -82182627.48438674 USD. Current reported shares: 424159. Prior shares on current basis: 621884.
- STM
STMICROELECTRONICS N V
−$80.3M
-97.6% shares
Your stake and evidence for STM
What it means for you
This public view does not read your holdings or watchlist; open the member view to check your stake.
Use this to decide what to research, rather than as an instruction to copy a trade.
What happened
Reported shares decreased between Q1 2026 and Q2 2026.
Displayed change: −$80.3M. The current book reports 26,480 shares.
Why it can matter
A change between quarter-end disclosures can prompt a question about the manager's exposure. It does not reveal the trade date, the execution price or why the position changed; a full exit is not proof of a bearish decision.
How we got this
For an added or trimmed position, subtract split-adjusted prior shares from current shares, then multiply by the current book's reported value per share; this is not the execution price.
26,480 current shares − 1,098,931 prior shares on the same basis = -1,072,451 shares.
Comparable books exclude identified CUSIP, share-basis and new-security events from trades. Exit-size bands describe prior book weight, not the manager's intent.
Where the data comes from
SEC 13F quarter-end holdings for Q1 2026 and Q2 2026; these delayed disclosures omit shorts and many other assets.
Current source filed .
Technical details
Reported dollar change: -80319451.82688822 USD. Current reported shares: 26480. Prior shares on current basis: 1098931.
What was sold out, by size
- 1 real positions, 0.25% of the book or more
- 6 small, between 0.015% and 0.25%
- 4 slivers under 0.015%, often rounding or client flows
Not counted as trades: FDXF (newly listed or spun off).
All of this comes from the filer's public SEC filings. A 13-F shows long positions in US-listed securities at quarter end and can leave out short positions, cash and non-US holdings, so it is not the whole portfolio. This is filing data, not investment advice.