Charles Brandes

Charles Brandes

Last Update: 02-10-2016

Number of Stocks: 176
Number of New Stocks: 13

Total Value: $6,841 Mil
Q/Q Turnover: 3%

Countries: USA
Details: Top Buys | Top Sales | Top Holdings  Embed:

Charles Brandes Watch

  • Charles Brandes' Holdings With High Yields

    Charles Brandes (Trades, Portfolio) is the chairman of Brandes Investment Partners. He started the firm in 1974 and manages multiple portfolios including U.S. Equity and Global Equity. Here is a look at his holdings with high yields.

    Mobile TeleSystems PJSC (MBT)


  • Brandes Investment Trust Comments on Companhia de Saneamento Basico de Estado de São Paulo

    During the quarter, we also took advantage of the decline in Brazilian equities to selectively add to a number of our positions there, including in government-owned water utility Companhia de Saneamento Basico de Estado de São Paulo (Sabesp) (NYSE:SBS).

    Sabesp provides public water and sewage services to a broad range of customers in São Paulo, Brazil’s richest and most populous state. São Paulo has recently been grappling with the worst drought in 80 years. Water levels in the Cantareira system of reservoirs, which normally supplies roughly half of the 20 million residents, have fallen to just 5% of capacity. In our view, the necessary cutbacks on water deliveries will result in Sabesp earning below its regulated rate of return. This will likely continue until the drought is over or the company is able to supplement the state’s water supply. While the investment committee cannot predict the weather, we feel that Sabesp remains an attractive investment opportunity that merits a continued inclusion in the Fund.


  • Brandes Investment Trust Comments on Chemical Works of Gedeon Richter

    Other major Fund activity included the full sale of Chemical Works of Gedeon Richter (BUD:RICHTER), a Hungary-based manufacturer of both branded and generic pharmaceutical products. In recent years, the company has been transitioning its business model to become more of a “specialty pharma” with a stronger emphasis on branded drugs, an area that requires more research & development (R&D) effort but historically has been more profitable.

    We began purchasing Gedeon Richter during the first half of 2014. At the time, geopolitical concerns in Russia, Ukraine and other member countries of the Commonwealth of Independent States (CIS), which collectively accounted for over 40% of Gedeon Richter’s revenue, appeared to be overly discounted for in the company’s share price. We took comfort in Gedeon Richter’s long history of local operations in the region, including local manufacturing in Russia, which should support its foothold there. Moreover, we believed the market underappreciated the prospects offered by Gedeon Richter’s women’s health division, its diversified exposure to regions with positive secular growth potential, as well as its R&D optionality.


  • Brandes Investment Trust Comments on Sociedad Quimica y Minera de Chile

    In the third quarter, the emerging markets investment committee initiated a position in Sociedad Quimica y Minera de Chile (NYSE:SQM). Founded in 1968 and headquartered in Santiago, Chile, SQM produces and distributes specialty plant nutrition solutions, potassium fertilizers, industrial chemicals, iodine and its derivatives, as well as lithium and its derivatives.

    For much of 2014 and 2015, SQM’s reputation has been marred by governance concerns. In March 2015, Canada-based PotashCorp withdrew its board members after clashing with controller Julio Ponce over the handling of a tax probe and allegations of payments to politicians by SQM.


  • Brandes Investment Trust Comments on Yue Yuen

    Additionally, the Fund benefited from its position in Hong Kong-based Yue Yuen (HKSE:00551), whose share price increased after it announced strong results for the first half of 2015. Yue Yuen is the world’s largest manufacturer of athletic and casual footwear, operating as an original equipment manufacturer (OEM) and original design manufacturer (ODM) for major brands such as Nike, Adidas, Reebok, Asics, New Balance and Puma.


  • Brandes Investment Trust Comments on O2 Czech Republic

    During the period, O2 Czech Republic (LSE:O2CZ) contributed positively to performance. The telecommunication services company finalized the spin- off of its infrastructure assets into a new entity in early June and its share price moved higher in the third quarter as its majority owner, PPF, continued its buyout of the company. In August, PPF disclosed that it owned nearly 85% of O2 Czech Republic and confirmed that it would not attempt to raise its stake above 90%.


  • Brandes Investment Trust Comments on Panamanian Copa Holdings

    Another major performance detractor during the quarter was Indonesian telecommunication services provider XL Axiata (OTCPK:PTXKY). In March 2015, the company announced a new business strategy which included a shift in focus from customer volume to service quality. Effectively, the company raised the price of starter SIM packs while aiming to upgrade its data services—a move which may stifle volume in the near term but could potentially boost longer-term profitability. Since the announcement, the market has reacted negatively to the fact that XL Axiata’s 2015 revenue and EBITDA will likely remain stagnant compared to last year as the company seeks to clean up its subscriber base and attempts to reprice. We view the company’s action as a bold but sensible strategy to generate greater long-term value.


  • Brandes Investment Trust Comments on Panamanian Copa Holdings

    For Panamanian Copa Holdings (NYSE:CPA), the share-price decline could be attributed primarily to weak demand and currency depreciation in a number of its end markets, especially Brazil, Venezuela and Colombia. Additionally, overcapacity, which we consider a near-term challenge, has negatively affected the airline industry in Latin America in general.


  • Brandes Emerging Markets Value Fund Comments on POSCO

    South Korea-based POSCO (PKS) saw its share price fall due to investor fears of slowing economic growth in China, one of the company’s revenue sources. We have factored China’s slowdown into our valuation for POSCO and believe the company offers competitive advantages that may not be fully reflected in its share price.


  • Brandes Emerging Markets Value Fund 3rd Quarter Commentary

    The last three months proved to be a continuation of challenging conditions for emerging markets, with the asset class generating the worst quarterly returns since the third quarter of 2011.


  • Charles Brandes Buys Stakes in Emerson Electric, Johnson & Johnson

    Charles Brandes (Trades, Portfolio), chairman of Brandes Investment Partners, the firm he founded in 1974, is an adherent of value investing, applying its principles to the portfolios that are managed by the firm as well as his own. The strategy has been successful. Last year, when many investors struggled in a challenging environment, Brandes’ U.S. Value Equity Fund produced positive returns exceeding 13%.

    Brandes’ most noteworthy transaction in the third quarter was his purchase of a 2,571,543-share stake in Emerson Electric Co. (NYSE:EMR), a Ferguson, Mo.-based electrical equipment company. Brandes paid an average price of $49.17 per share. The deal had a 1.66% impact on Brandes’ portfolio.


  • Charles Brandes Comments on Emerson Electric

    Within our U.S. Value Equity Strategy, we added Emerson Electric (NYSE:EMR) and Johnson & Johnson during the quarter. Emerson Electric produces electrical products and systems addressing a wide range of industrial, commercial, and consumer markets. Emerson’s positive attributes include strong market positions in the majority of its businesses, a long track record of better margins than its peers, and a healthy balance sheet.

    From Charles Brandes (Trades, Portfolio)' third quarter 2015 commentary, Volatility: Misbehaving—In Action.  

  • Charles Brandes Comments on Johnson & Johnson

    Healthcare giant Johnson & Johnson (NYSE:JNJ), which has diverse operations in pharmaceuticals, medical devices, biotechnology and consumer health, has faced potential competition in its pharmaceutical segment and lingering concerns over product recalls and manufacturing issues in its consumer segment. Nonetheless, we believe the company’s fundamentals remain attractive, including its strong competitive position and balance sheet, as well as a history of prudent capital deployment. The company generates approximately 70% of its revenues from businesses which command a #1 or #2 global market share, and 25% from products launched over the last five years. Speaking to the strength of its balance sheet, Johnson & Johnson is one of only four U.S. industrial companies with a AAA credit rating from both S&P and Moody’s.

    From Charles Brandes (Trades, Portfolio)' third quarter 2015 commentary, Volatility: Misbehaving—In Action.  

  • Brandes Quarterly Commentary - Volatility: Misbehaving—In Action

    Volatility: Misbehaving—In Action


  • Charles Brandes' Most Weighted Trades in Q2 2015

    Charles Brandes is the chairman of Brandes Investment Partners. He manages a portfolio composed of 195 stocks with a total value of $7.80 billion and the following are his most weighted trades in the last quarter :

    He reduced his stake in Masco Corp. (MAS) by 34.23% with an impact of 0.67% on his portfolio.


  • Guru Stocks at 52-Week Lows: HSBC Holdings, Unilever, Banco Santander, Duke Energy, Itau Unibanco

    According to GuruFocus list of 52-week lows, these Guru stocks have reached their 52-week lows.

    HSBC Holdings PLC reached the 52-week low of $39.61


  • Charles Brandes Beefs Up Second-Most Valuable Stake in Portfolio

    Value investor Charles Brandes (Trades, Portfolio), chairman of Brandes Investment Partners, which he founded in 1974, applies Benjamin Graham’s principles to all the portfolios managed by his firm. That approach produced returns of 13.34% last year, 37.6% in 2013 and 18.54% in 2012.

    In his second-quarter dealings, Brandes’ mix of buys and sales were normal for him, although he added to more stakes than is typical for him. Brandes added to his positions in 111 companies in the second quarter. Many of those additions were modest, but some were significant.


  • 5-year lows: UTi Worldwide Inc, Investors Real Estate Trust, Adtran Inc, and BreitBurn Energy Partners LP

    According to GuruFocus list of 5-year lows, these Guru stocks have reached their 5-year lows: UTi Worldwide Inc, Investors Real Estate Trust, Adtran Inc, and BreitBurn Energy Partners LP

    UTi Worldwide Inc (NAS:UTIW) Reached $9.05


  • Avon's Price Close to 10-Year Low

    In this article, let's take a look at Avon Products Inc. (NYSE:AVP), a $2.68 billion market cap company, which is the world's leading direct marketer of cosmetics, toiletries, fashion jewelry and fragrances, with about 6 million sales representatives worldwide.

    Price Performance


  • Misbehaving During Periods of Dislocation - Brandes

    Focus on the Long-Term Company Fundamentals

    It’s the season for reading lists and one book making the rounds at Brandes is "Misbehaving: The Making of Behavioral Economics," by Richard Thaler. In this excellent compendium of his work, Mr. Thaler reminds us of the many reasons why investors and markets often act irrationally and how that can create potential opportunities value investors can exploit. In this commentary, we reflect on Thaler’s messages about human behavior and Benjamin Graham’s value investment fundamentals against the backdrop of a potential global economic slowdown.


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