Brandes Investment Buys Alibaba Group Holding, FedEx Corp, Baidu Inc, Sells Telecom Italia SpA, Grupo Aval Acciones y Valores SA, Avadel Pharmaceuticals PLC

• New Purchases: BABA, BIDU, CCJ, INGR, WLK, CALM, CTB, CFG, TBNK, IWN,
• Added Positions: FDX, ACWX, ERJ, TX, CI, CVS, CYD, GTS, ACWI, EEM, CSCO, TARO, YPF, PDLI, FOX, SWIR, CMCSA, NTGR, CTSH, ANAT, IVC, PAHC, EGRX, PINC, EBMT, HURC, SXT, RECN, NRIM, NPK, MSTR,
• Reduced Positions: AVAL, CX, NXPI, AVDL, EMR, TMHC, SNY, VIV, CRH, JOE, MDC, CHL, CAH, UBS, BAC, GSK, C, E, NOK, WPP, MRK, PNC, INT, CS, AIG, HMC, CLS, MCK, WFC, PFE, STT, TAK, ORAN, BP, HSBC, BK, MUFG, PEP, AEG, BCS, JEF, HCA, LH, HAL, MSFT, ENIC, OMI, SHG, PBR.A, TM, CPA, MBT, PKX, DOX, SENEA, TOT, WHR, UTHR, AVT, EPC, PTR, CBD, BGG, ORI, AMX, UHAL, AMAT, ARW, JPM, TFC, AMGN, L, CSS, WTM, ZTO, IPG, JNJ, JCI, TKC, LB, MHK, NKSH, TSM, NWLI, SCHL, OMC, DGX, ORCL, MD,
• Sold Out: TIIAY, TIAIY, CHK, SPB, VSM, DGII, ISCA,

For the details of Charles Brandes's stock buys and sells, go to https://www.gurufocus.com/guru/charles+brandes/current-portfolio/portfolio

1. Embraer SA (ERJ) - 20,536,323 shares, 9.52% of the total portfolio. Shares added by 3.31%
2. Cemex SAB de CV (CX) - 69,362,624 shares, 6.24% of the total portfolio. Shares reduced by 5.23%
3. Citigroup Inc (C) - 1,815,237 shares, 3.45% of the total portfolio. Shares reduced by 3.41%
4. NXP Semiconductors NV (NXPI) - 1,113,954 shares, 3.37% of the total portfolio. Shares reduced by 10.55%
5. Merck & Co Inc (MRK) - 1,150,578 shares, 2.49% of the total portfolio. Shares reduced by 3.96%

Brandes Investment initiated holding in Alibaba Group Holding Ltd. The purchase prices were between $161.93 and $216.38, with an estimated average price of $188.59. The stock is now traded at around $222.28. The impact to a portfolio due to this purchase was 1.74%. The holding were 345,185 shares as of .

Brandes Investment initiated holding in Baidu Inc. The purchase prices were between $99.53 and $128.83, with an estimated average price of $114.18. The stock is now traded at around $134.95. The impact to a portfolio due to this purchase was 0.5%. The holding were 166,147 shares as of .

Brandes Investment initiated holding in Cameco Corp. The purchase prices were between $8.64 and $10, with an estimated average price of $9.24. The stock is now traded at around $9.31. The impact to a portfolio due to this purchase was 0.23%. The holding were 1,095,366 shares as of .

Brandes Investment initiated holding in Ingredion Inc. The purchase prices were between $78.08 and $94.15, with an estimated average price of $84.22. The stock is now traded at around $97.80. The impact to a portfolio due to this purchase was 0.11%. The holding were 48,333 shares as of .

Brandes Investment initiated holding in Westlake Chemical Corp. The purchase prices were between $58.61 and $74.82, with an estimated average price of $67.27. The stock is now traded at around $66.38. The impact to a portfolio due to this purchase was 0.1%. The holding were 61,484 shares as of .

Brandes Investment initiated holding in Citizens Financial Group Inc. The purchase prices were between $32.58 and $40.75, with an estimated average price of $37.55. The stock is now traded at around $38.82. The impact to a portfolio due to this purchase was 0.01%. The holding were 13,049 shares as of .

Brandes Investment added to a holding in FedEx Corp by 1115.55%. The purchase prices were between $138.39 and $165.67, with an estimated average price of $154.38. The stock is now traded at around $160.52. The impact to a portfolio due to this purchase was 0.88%. The holding were 266,838 shares as of .

Brandes Investment added to a holding in iShares MSCI ACWI Ex US Index Fund by 365.87%. The purchase prices were between $44.83 and $49.24, with an estimated average price of $47.74. The stock is now traded at around $49.00. The impact to a portfolio due to this purchase was 0.31%. The holding were 345,641 shares as of .

Brandes Investment added to a holding in Ternium SA by 451.05%. The purchase prices were between $17.52 and $22.72, with an estimated average price of $20.41. The stock is now traded at around $21.15. The impact to a portfolio due to this purchase was 0.29%. The holding were 670,071 shares as of .

Brandes Investment added to a holding in Triple-S Management Corp by 1200.06%. The purchase prices were between $12.87 and $19.9, with an estimated average price of $17.14. The stock is now traded at around $18.05. The impact to a portfolio due to this purchase was 0.13%. The holding were 317,279 shares as of .

Brandes Investment added to a holding in China Yuchai International Ltd by 26.15%. The purchase prices were between $12.57 and $14.76, with an estimated average price of $13.45. The stock is now traded at around $12.86. The impact to a portfolio due to this purchase was 0.13%. The holding were 1,930,265 shares as of .

Brandes Investment added to a holding in iShares MSCI ACWI Index Fund by 1382.37%. The purchase prices were between $71.68 and $79.55, with an estimated average price of $76.58. The stock is now traded at around $81.44. The impact to a portfolio due to this purchase was 0.11%. The holding were 65,091 shares as of .

Brandes Investment sold out a holding in Telecom Italia SpA. The sale prices were between $5.34 and $6.4, with an estimated average price of $5.98.

Brandes Investment sold out a holding in Telecom Italia SpA. The sale prices were between $5.26 and $6.35, with an estimated average price of $5.87.

Brandes Investment sold out a holding in Chesapeake Energy Corp. The sale prices were between $0.56 and $1.56, with an estimated average price of $0.99.

Brandes Investment sold out a holding in Spectrum Brands Holdings Inc. The sale prices were between $46.69 and $64.29, with an estimated average price of $56.84.

Brandes Investment sold out a holding in Versum Materials Inc. The sale prices were between $52.97 and $52.99, with an estimated average price of $52.98.

Brandes Investment sold out a holding in International Speedway Corp. The sale prices were between $44.99 and $45.68, with an estimated average price of $45.2.

Brandes Investment reduced to a holding in Grupo Aval Acciones y Valores SA by 32.62%. The sale prices were between $7.36 and $8.77, with an estimated average price of $8.08. The stock is now traded at around $8.62. The impact to a portfolio due to this sale was -0.51%. Brandes Investment still held 5,468,758 shares as of .

Brandes Investment reduced to a holding in Avadel Pharmaceuticals PLC by 40.93%. The sale prices were between $3.34 and $7.7, with an estimated average price of $5.34. The stock is now traded at around $7.00. The impact to a portfolio due to this sale was -0.27%. Brandes Investment still held 3,651,948 shares as of .

Brandes Investment reduced to a holding in Taylor Morrison Home Corp by 38.83%. The sale prices were between $21.63 and $27.68, with an estimated average price of $23.97. The stock is now traded at around $27.28. The impact to a portfolio due to this sale was -0.25%. Brandes Investment still held 589,680 shares as of .

Brandes Investment reduced to a holding in CRH PLC by 23.9%. The sale prices were between $32.02 and $40.36, with an estimated average price of $37.15. The stock is now traded at around $39.10. The impact to a portfolio due to this sale was -0.17%. Brandes Investment still held 628,220 shares as of .

Brandes Investment reduced to a holding in M.D.C. Holdings Inc by 59.44%. The sale prices were between $36.83 and $46, with an estimated average price of $40.57. The stock is now traded at around $44.37. The impact to a portfolio due to this sale was -0.14%. Brandes Investment still held 85,286 shares as of .

Brandes Investment reduced to a holding in World Fuel Services Corp by 36.47%. The sale prices were between $38.34 and $43.99, with an estimated average price of $41.91. The stock is now traded at around $38.66. The impact to a portfolio due to this sale was -0.09%. Brandes Investment still held 150,888 shares as of .