13F-HR 1 v201411_13fhr.txt UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 13F Form 13F COVER PAGE Report for the Calendar Year or Quarter Ended: September 30, 2010 ------------------ Check here if Amendment |_|; Amendment Number: This Amendment (Check only one.): |_| is a restatement. |_| adds new holding entries. Institutional Investment Manager Filing this Report: Name: Brandes Investment Partners, L.P. ----------------------------------------------------------------------- Address: 11988 El Camino Real, Suite 500 ----------------------------------------------------------------------- San Diego, CA 92130 ----------------------------------------------------------------------- Form 13F File Number: 28- 5620 --------------- The institutional investment manager filing this report and the person by whom it is signed hereby represent that the person signing the report is authorized to submit it, that all information contained herein is true, correct and complete, and that it is understood that all required items, statements, schedules, lists and tables, are considered integral parts of this form. Person Signing this Report on Behalf of Reporting Manager: Name: Ian Rose ----------------------------------------------------------------------- Title: General Counsel ----------------------------------------------------------------------- Phone: (858) 755-0239 ----------------------------------------------------------------------- Signature, Place, and Date of Signing: /s/ Ian Rose San Diego, CA 11/08/10 ------------------------------ -------------------------------- -------- [Signature] [City, State] [Date] Report type (Check only one.): |X| 13F HOLDINGS REPORT. (Check here if all holdings of this reporting manager are reported in this report.) |_| 13F NOTICE. (Check here if no holdings reported are in this report, and all holdings are reported by other reporting manager (s).) |_| 13F COMBINATION REPORT. (Check here if a portion of the holdings for this reporting manager are reported in this report and a portion are reported by other reporting manager(s).) Report Summary: Number of Other Included Managers: 0 ------------------------------ Form 13F Information Table Entry Total: 207 ------------------------------ Form 13F Information Table Value Total: $16,085,093 ------------------------------ (thousands)

COLUMN 1 COLUMN 2 COLUMN 3 COLUMN 4 COLUMN 5 COLUMN 6 COLUMN 7 COLUMN 8 NAME OF ISSUER TITLE CUSIP VALUE SHRS OR SH/ PR/ INVESTMENT OTHER VOTING AUTHORITY OF CLASS (x$1000) PRN AMT PRN CALL DISCRETION MANAGERS SOLE SHARED NONE ----------------------------------------------------------------------------------------------------------------------------------- ABINGTON BANCORP INC COM 00350L109 $295 28,000 SH Sole 28,000 AEGON N V NY REGISTRY SH 007924103 $128,927 21,523,715 SH Sole 21,523,715 ALCATEL-LUCENT SPONSORED ADR 013904305 $170,140 50,337,362 SH Sole 50,337,362 ALEXANDER & BALDWIN INC COM 014482103 $8,767 251,622 SH Sole 251,622 ALLIANCEBERNSTEIN HOLDING LP UNIT LTD PARTN 01881G106 $331 12,535 SH Sole 12,535 AMERICA MOVIL SAB DE CV SPON ADR L SHS 02364W105 $1,064 19,951 SH Sole 19,951 AMERICAN EXPRESS CO COM 025816109 $102,610 2,441,348 SH Sole 2,441,348 AON CORP COM 037389103 $9,024 230,735 SH Sole 230,735 ARCHER DANIELS MIDLAND CO COM 039483102 $15,046 471,366 SH Sole 471,366 ARGO GROUP INTL HLDGS LTD COM G0464B107 $15,534 447,145 SH Sole 447,145 ARLINGTON ASSET INVT CORP CL A NEW 041356205 $350 15,019 SH Sole 15,019 ASTRAZENECA PLC SPONSORED ADR 046353108 $210,929 4,160,328 SH Sole 4,160,328 AT&T INC COM 00206R102 $328,111 11,472,421 SH Sole 11,472,421 BANCO LATINOAMERICANO DE COM SHS E P16994132 $38,620 2,672,669 SH Sole 2,672,669 BANCO SANTANDER BRASIL S A ADS REP 1 UNIT 05967A107 $28,106 2,041,082 SH Sole 2,041,082 BANK MONTREAL QUE COM 063671101 $630 10,890 SH Sole 10,890 BANK OF AMERICA CORPORATION COM 060505104 $251,074 19,162,322 SH Sole 19,162,322 BARCLAYS PLC ADR 06738E204 $57,150 3,031,814 SH Sole 3,031,814 BB&T CORP COM 054937107 $86,616 3,597,028 SH Sole 3,597,028 BIGBAND NETWORKS INC COM 089750509 $1,861 655,252 SH Sole 655,252 BOSTON SCIENTIFIC CORP COM 101137107 $174,882 28,528,804 SH Sole 28,528,804 BP PLC SPONSORED ADR 055622104 $32,045 778,356 SH Sole 778,356 BRASIL TELECOM SA SPONS ADR PFD 10553M101 $104,126 5,245,621 SH Sole 5,245,621 BRASIL TELECOM SA SPON ADR COM 10553M200 $27,619 3,204,077 SH Sole 3,204,077 BRIGGS & STRATTON CORP COM 109043109 $14,053 739,238 SH Sole 739,238 CANON INC ADR 138006309 $210,586 4,507,404 SH Sole 4,507,404 CELESTICA INC SUB VTG SHS 15101Q108 $1,699 202,270 SH Sole 202,270 CEMEX SAB DE CV SPON ADR NEW 151290889 $331,933 39,050,898 SH Sole 39,050,898 CENTRAIS ELETRICAS BRASILEIR SPONSORED ADR 15234Q207 $420,603 32,731,737 SH Sole 32,731,737 CHESAPEAKE ENERGY CORP COM 165167107 $242,021 10,685,263 SH Sole 10,685,263 CHEVRON CORP NEW COM 166764100 $273,810 3,378,285 SH Sole 3,378,285 CHICOPEE BANCORP INC COM 168565109 $1,166 103,340 SH Sole 103,340 CHINA YUCHAI INTL LTD COM G21082105 $9,776 511,027 SH Sole 511,027 CINCINNATI FINL CORP COM 172062101 $6,129 212,661 SH Sole 212,661 CITIGROUP INC COM 172967101 $247,588 63,321,737 SH Sole 63,321,737 COLE KENNETH PRODTNS INC CL A 193294105 $4,304 258,165 SH Sole 258,165 COMPANHIA DE SANEAMENTO BASI SPONSORED ADR 20441A102 $10,923 240,009 SH Sole 240,009 COMPANHIA PARANAENSE ENERG C SPON ADR PFD 20441B407 $319 14,358 SH Sole 14,358 CONOCOPHILLIPS COM 20825C104 $4,341 75,594 SH Sole 75,594 CONVERGYS CORP COM 212485106 $645 61,718 SH Sole 61,718 CORNING INC COM 219350105 $13,498 738,395 SH Sole 738,395 CRH PLC ADR 12626K203 $333 19,985 SH Sole 19,985 CUTERA INC COM 232109108 $217 26,805 SH Sole 26,805 CYNOSURE INC CL A 232577205 $270 26,472 SH Sole 26,472 D R HORTON INC COM 23331A109 $8,126 730,764 SH Sole 730,764 DANVERS BANCORP INC COM 236442109 $223 14,565 SH Sole 14,565 DELL INC COM 24702R101 $292,217 22,530,186 SH Sole 22,530,186 DEUTSCHE BANK AG NAMEN AKT D18190898 $30,703 558,949 SH Sole 558,949 DEUTSCHE BANK AG NAMEN AKT D18190898 $87,754 1,606,280 SH Sole 1,606,280 DEUTSCHE TELEKOM AG SPONSORED ADR 251566105 $301,485 22,024,477 SH Sole 22,024,477 DIAGEO P L C SPON ADR NEW 25243Q205 $985 14,280 SH Sole 14,280 DOW CHEM CO COM 260543103 $336,472 12,253,162 SH Sole 12,253,162 DST SYS INC DEL COM 233326107 $7,441 165,951 SH Sole 165,951 EBAY INC COM 278642103 $10,119 414,725 SH Sole 414,725 EDISON INTL COM 281020107 $7,704 224,026 SH Sole 224,026 ELECTRONICS FOR IMAGING INC COM 286082102 $279 23,105 SH Sole 23,105 EMBRAER-EMPRESA BRASILEIRA D SP ADR COM SHS 29081M102 $32,735 1,153,030 SH Sole 1,153,030 ENI S P A SPONSORED ADR 26874R108 $243,207 5,632,395 SH Sole 5,632,395 ERICSSON L M TEL CO ADR B SEK 10 294821608 $159,253 14,517,095 SH Sole 14,517,095 ESSA BANCORP INC COM 29667D104 $244 20,600 SH Sole 20,600 EVEREST RE GROUP LTD COM G3223R108 $12,420 143,638 SH Sole 143,638 FIDELITY NATIONAL FINANCIAL CL A 31620R105 $14,549 926,122 SH Sole 926,122 FIFTH THIRD BANCORP COM 316773100 $87,395 7,264,722 SH Sole 7,264,722 FIRST AMERN FINL CORP COM 31847R102 $2,678 179,239 SH Sole 179,239 FLEXTRONICS INTL LTD ORD Y2573F102 $150,013 24,836,517 SH Sole 24,836,517 FORTUNE BRANDS INC COM 349631101 $2,037 41,374 SH Sole 41,374 FRANCE TELECOM SPONSORED ADR 35177Q105 $236,953 11,005,698 SH Sole 11,005,698 FRESH DEL MONTE PRODUCE INC ORD G36738105 $1,161 53,510 SH Sole 53,510 GALLAGHER ARTHUR J & CO COM 363576109 $6,457 244,879 SH Sole 244,879 GENERAL ELECTRIC CO COM 369604103 $248,635 15,300,635 SH Sole 15,300,635 GLAXOSMITHKLINE PLC SPONSORED ADR 37733W105 $219,427 5,552,305 SH Sole 5,552,305 GOODYEAR TIRE & RUBR CO COM 382550101 $8,516 792,227 SH Sole 792,227 GRUPO TELEVISA SA DE CV SP ADR REP ORD 40049J206 $3,546 187,430 SH Sole 187,430 HAMPDEN BANCORP INC COM 40867E107 $492 49,440 SH Sole 49,440 HELLENIC TELECOM ORGANIZATN SPONSORED ADR 423325307 $1,298 361,376 SH Sole 361,376 HEWLETT PACKARD CO COM 428236103 $14,843 352,823 SH Sole 352,823 HOME BANCORP INC COM 43689E107 $811 60,592 SH Sole 60,592 HOME DEPOT INC COM 437076102 $33,363 1,053,138 SH Sole 1,053,138 HONDA MOTOR LTD AMERN SHS 438128308 $45,133 1,268,150 SH Sole 1,268,150 HSBC HLDGS PLC SPON ADR NEW 404280406 $2,710 53,574 SH Sole 53,574 INTEGRAL SYS INC MD COM 45810H107 $555 75,225 SH Sole 75,225 INTEL CORP COM 458140100 $293,282 15,275,079 SH Sole 15,275,079 INTERNATIONAL FLAVORS&FRAGRA COM 459506101 $17,285 356,251 SH Sole 356,251 INVESTORS BANCORP INC COM 46146P102 $290 24,485 SH Sole 24,485 IRELAND BK SPONSORED ADR 46267Q103 $1,752 515,367 SH Sole 515,367 JAKKS PAC INC COM 47012E106 $8,629 489,177 SH Sole 489,177 KB FINANCIAL GROUP INC SPONSORED ADR 48241A105 $5,246 122,359 SH Sole 122,359 KB HOME COM 48666K109 $5,950 525,176 SH Sole 525,176 KELLY SVCS INC CL A 488152208 $300 25,589 SH Sole 25,589 KEYCORP NEW COM 493267108 $74,714 9,386,232 SH Sole 9,386,232 KING PHARMACEUTICALS INC COM 495582108 $25,783 2,588,670 SH Sole 2,588,670 KOREA ELECTRIC PWR SPONSORED ADR 500631106 $181,935 14,070,745 SH Sole 14,070,745 KRAFT FOODS INC CL A 50075N104 $10,701 346,756 SH Sole 346,756 KROGER CO COM 501044101 $194,480 8,978,761 SH Sole 8,978,761 K-SWISS INC CL A 482686102 $274 21,461 SH Sole 21,461 KT CORP SPONSORED ADR 48268K101 $26,162 1,278,704 SH Sole 1,278,704 LEGACY BANCORP INC CL A 52463G105 $346 43,647 SH Sole 43,647 LENNAR CORP CL A 526057104 $9,259 602,031 SH Sole 602,031 LENNAR CORP CL B 526057302 $2,839 230,431 SH Sole 230,431 LILLY ELI & CO COM 532457108 $200,397 5,485,813 SH Sole 5,485,813 LOWES COS INC COM 548661107 $212,814 9,547,500 SH Sole 9,547,500 M D C HLDGS INC COM 552676108 $472 16,265 SH Sole 16,265 MAGNA INTL INC COM 559222401 $10,106 122,853 SH Sole 122,853 MAGNA INTL INC COM 559222401 $3,684 44,890 SH Sole 44,890 MAGYAR TELEKOM TELECOMMUNS P SPONSORED ADR 559776109 $10,104 619,498 SH Sole 619,498 MAKITA CORP ADR NEW 560877300 $564 17,650 SH Sole 17,650 MANULIFE FINL CORP COM 56501R106 $1,591 126,080 SH Sole 126,080 MARATHON OIL CORP COM 565849106 $12,935 390,797 SH Sole 390,797 MARSH & MCLENNAN COS INC COM 571748102 $129,606 5,373,382 SH Sole 5,373,382 MARSHALL & ILSLEY CORP NEW COM 571837103 $2,723 386,764 SH Sole 386,764 MASCO CORP COM 574599106 $87,498 7,947,117 SH Sole 7,947,117 MEDICINES CO COM 584688105 $618 43,530 SH Sole 43,530 MERCK & CO INC NEW COM 58933Y105 $150,679 4,093,416 SH Sole 4,093,416 MI DEVS INC CL A SUB VTG 55304X104 $8,808 801,475 SH Sole 801,475 MICROSOFT CORP COM 594918104 $339,480 13,861,990 SH Sole 13,861,990 MITSUBISHI UFJ FINL GROUP IN SPONSORED ADR 606822104 $119,579 25,826,893 SH Sole 25,826,893 MIZUHO FINL GROUP INC SPONSORED ADR 60687Y109 $91,521 31,888,920 SH Sole 31,888,920 MOTOROLA INC COM 620076109 $227,186 26,633,711 SH Sole 26,633,711 NATUZZI S P A ADR 63905A101 $5,390 1,452,878 SH Sole 1,452,878 NEUTRAL TANDEM INC COM 64128B108 $259 21,710 SH Sole 21,710 NIPPON TELEG & TEL CORP SPONSORED ADR 654624105 $268,429 12,245,852 SH Sole 12,245,852 NOKIA CORP SPONSORED ADR 654902204 $133,376 13,297,689 SH Sole 13,297,689 NORTEL INVERSORA S A SPON ADR PFD B 656567401 $15,943 664,027 SH Sole 664,027 NV ENERGY INC COM 67073Y106 $3,373 256,533 SH Sole 256,533 OCEAN SHORE HLDG CO NEW COM 67501R103 $1,271 119,134 SH Sole 119,134 OFFICEMAX INC DEL COM 67622P101 $383 29,260 SH Sole 29,260 OLD REP INTL CORP COM 680223104 $16,452 1,187,847 SH Sole 1,187,847 PACIFIC SUNWEAR CALIF INC COM 694873100 $241 46,040 SH Sole 46,040 PALOMAR MED TECHNOLOGIES INC COM NEW 697529303 $1,666 161,273 SH Sole 161,273 PARTNER COMMUNICATIONS CO LT ADR 70211M109 $2,490 136,356 SH Sole 136,356 PENNEY J C INC COM 708160106 $11,299 415,717 SH Sole 415,717 PETROCHINA CO LTD SPONSORED ADR 71646E100 $3,605 30,965 SH Sole 30,965 PETROLEO BRASILEIRO SA PETRO SP ADR NON VTG 71654V101 $268,574 8,183,255 SH Sole 8,183,255 PFIZER INC COM 717081103 $509,249 29,659,239 SH Sole 29,659,239 PNC FINL SVCS GROUP INC COM 693475105 $132,738 2,557,070 SH Sole 2,557,070 PORTUGAL TELECOM SGPS S A SPONSORED ADR 737273102 $213,380 16,128,487 SH Sole 16,128,487 POSCO SPONSORED ADR 693483109 $3,380 29,657 SH Sole 29,657 PPL CORP COM 69351T106 $8,059 295,966 SH Sole 295,966 PRECISION DRILLING CORP COM 2010 74022D308 $1,817 266,290 SH Sole 266,290 PUBLIC SVC ENTERPRISE GROUP COM 744573106 $7,981 241,276 SH Sole 241,276 PULTE GROUP INC COM 745867101 $12,311 1,405,321 SH Sole 1,405,321 QLT INC COM 746927102 $1,718 272,410 SH Sole 272,410 QUIKSILVER INC COM 74838C106 $541 138,445 SH Sole 138,445 REGIONS FINANCIAL CORP NEW COM 7591EP100 $69,207 9,519,582 SH Sole 9,519,582 RENT A CTR INC NEW COM 76009N100 $847 37,835 SH Sole 37,835 REPSOL YPF S A SPONSORED ADR 76026T205 $15,462 600,920 SH Sole 600,920 RYLAND GROUP INC COM 783764103 $1,972 110,055 SH Sole 110,055 SAFEWAY INC COM NEW 786514208 $295,465 13,963,352 SH Sole 13,963,352 SAIA INC COM 78709Y105 $367 24,605 SH Sole 24,605 SANOFI AVENTIS SPONSORED ADR 80105N105 $228,084 6,859,667 SH Sole 6,859,667 SARA LEE CORP COM 803111103 $90,698 6,753,366 SH Sole 6,753,366 SEAGATE TECHNOLOGY PLC SHS G7945M107 $800 67,930 SH Sole 67,930 SENECA FOODS CORP NEW CL A 817070501 $1,852 70,714 SH Sole 70,714 SHINHAN FINANCIAL GROUP CO L SPN ADR RESTRD 824596100 $1,771 23,093 SH Sole 23,093 SIERRA WIRELESS INC COM 826516106 $5,649 544,790 SH Sole 544,790 SK TELECOM LTD SPONSORED ADR 78440P108 $280,430 16,052,106 SH Sole 16,052,106 SKYLINE CORP COM 830830105 $385 19,002 SH Sole 19,002 SONY CORP ADR NEW 835699307 $149,147 4,823,628 SH Sole 4,823,628 SPARTECH CORP COM NEW 847220209 $1,675 204,030 SH Sole 204,030 ST JOE CO COM 790148100 $275 11,060 SH Sole 11,060 STANLEY BLACK & DECKER INC COM 854502101 $22,680 370,100 SH Sole 370,100 STEWART INFORMATION SVCS COR COM 860372101 $2,510 221,740 SH Sole 221,740 STMICROELECTRONICS N V NY REGISTRY 861012102 $117,209 15,361,595 SH Sole 15,361,595 SUNTRUST BKS INC COM 867914103 $69,971 2,708,905 SH Sole 2,708,905 SUPERIOR INDS INTL INC COM 868168105 $766 44,351 SH Sole 44,351 SUPERVALU INC COM 868536103 $85,386 7,405,531 SH Sole 7,405,531 SYMANTEC CORP COM 871503108 $13,282 877,828 SH Sole 877,828 SYNERON MEDICAL LTD ORD SHS M87245102 $11,774 1,186,853 SH Sole 1,186,853 SYNIVERSE HLDGS INC COM 87163F106 $338 14,900 SH Sole 14,900 TECUMSEH PRODS CO CL A 878895200 $4,136 360,584 SH Sole 360,584 TECUMSEH PRODS CO CL B 878895101 $381 34,087 SH Sole 34,087 TELE NORTE LESTE PART S A SPON ADR PFD 879246106 $194,719 13,829,447 SH Sole 13,829,447 TELECOM ARGENTINA S A SPON ADR REP B 879273209 $79,054 3,732,483 SH Sole 3,732,483 TELECOM CORP NEW ZEALAND LTD SPONSORED ADR 879278208 $39,348 5,232,481 SH Sole 5,232,481 TELECOM ITALIA S P A NEW SPON ADR ORD 87927Y102 $282,371 20,270,691 SH Sole 20,270,691 TELECOMUNICACOES BRASILEIRAS SPONSORED ADR 879287308 $3,016 507,732 SH Sole 507,732 TELEFONICA S A SPONSORED ADR 879382208 $142,905 1,927,248 SH Sole 1,927,248 TELEFONOS DE MEXICO S A B SPON ADR ORD L 879403780 $336,795 22,558,253 SH Sole 22,558,253 TELUS CORP NON-VTG SHS 87971M202 $1,367 32,240 SH Sole 32,240 TENET HEALTHCARE CORP COM 88033G100 $65,990 13,980,879 SH Sole 13,980,879 TERRITORIAL BANCORP INC COM 88145X108 $229 13,615 SH Sole 13,615 TESORO CORP COM 881609101 $16,984 1,271,282 SH Sole 1,271,282 TEXAS INSTRS INC COM 882508104 $358,301 13,201,963 SH Sole 13,201,963 TIM PARTICIPACOES S A SPONS ADR PFD 88706P106 $79,887 2,421,541 SH Sole 2,421,541 TIMBERLAND CO CL A 887100105 $407 20,570 SH Sole 20,570 TOTAL S A SPONSORED ADR 89151E109 $230,376 4,464,645 SH Sole 4,464,645 TOYOTA MOTOR CORP SP ADR REP2COM 892331307 $172,768 2,413,636 SH Sole 2,413,636 TRAVELERS COMPANIES INC COM 89417E109 $11,412 219,046 SH Sole 219,046 TYCO ELECTRONICS LTD SWITZER SHS H8912P106 $552,393 18,904,624 SH Sole 18,904,624 U S G CORP COM NEW 903293405 $9,924 752,380 SH Sole 752,380 UBS AG SHS NEW H89231338 $128,011 7,519,628 SH Sole 7,519,628 UBS AG SHS NEW H89231338 $38,339 2,251,266 SH Sole 2,251,266 UNILEVER N V N Y SHS NEW 904784709 $168,121 5,626,552 SH Sole 5,626,552 UNILEVER PLC SPON ADR NEW 904767704 $2,638 90,650 SH Sole 90,650 UTSTARCOM INC COM 918076100 $429 197,592 SH Sole 197,592 VALERO ENERGY CORP NEW COM 91913Y100 $307,024 17,534,185 SH Sole 17,534,185 VERIZON COMMUNICATIONS INC COM 92343V104 $313,588 9,622,205 SH Sole 9,622,205 VISHAY INTERTECHNOLOGY INC COM 928298108 $6,131 633,356 SH Sole 633,356 VITRAN CORP INC COM 92850E107 $1,461 133,466 SH Sole 133,466 VITRAN CORP INC COM 92850E107 $2,063 186,870 SH Sole 186,870 VIVO PARTICIPACOES S A SPON ADR PFD NEW 92855S200 $110,358 4,061,773 SH Sole 4,061,773 VODAFONE GROUP PLC NEW SPONS ADR NEW 92857W209 $31,830 1,282,956 SH Sole 1,282,956 WELLS FARGO & CO NEW COM 949746101 $260,556 10,374,511 SH Sole 10,374,511 WESTERN DIGITAL CORP COM 958102105 $108,317 3,815,333 SH Sole 3,815,333 WILLIS GROUP HOLDINGS PUBLIC SHS G96666105 $19,028 617,405 SH Sole 617,405 WINNEBAGO INDS INC COM 974637100 $339 32,550 SH Sole 32,550 XEROX CORP COM 984121103 $242,567 23,436,438 SH Sole 23,436,438