Brandes Investment Partners: AUM & Ownership

Clients

Brandes Investment Partners serves 13,504 clients, 1,444 of them high-net-worth individuals. The average client has about $3 million with the firm, and high-net-worth clients hold 4% of its $40.6 billion in assets.

Regulatory assets by client type

Individuals9,723 clients4%
High-net-worth individuals1,444 clients4%
Investment companies10 clients15%
Pooled investment vehicles27 clients9%
State or municipal government entities24 clients37%
OtherOther investment advisers, Corporations and other businesses, Pension and profit-sharing plans, Charitable organizations, Other31%

Show client breakdown

Client type	Clients	Regulatory AUM	Share	Avg. per client
Individuals (other than HNW)	9,723	$1,620,826,518	4.0%	$167K
High-net-worth individuals	1,444	$1,825,320,860	4.5%	$1.26M
Investment companies	10	$5,929,506,187	14.6%	$593.0M
Pooled investment vehicles	27	$3,695,432,952	9.1%	$136.9M
Pension and profit-sharing plans	209	$641,557,321	1.6%	$3.07M
Charitable organizations	112	$164,579,135	0.4%	$1.47M
State or municipal government entities	24	$14,993,910,601	36.9%	$624.7M
Other investment advisers	3	$9,677,111,042	23.8%	$3.23B
Corporations and other businesses	1,951	$2,065,386,026	5.1%	$1.06M
Other	1	$33,047,467	0.1%	$33.0M
Total	13,504	$40,646,678,109	100%	$3.01M

Individuals (other than HNW)

Clients: 9,723
Regulatory AUM: $1,620,826,518
Share: 4.0%
Avg. per client: $167K

High-net-worth individuals

Clients: 1,444
Regulatory AUM: $1,825,320,860
Share: 4.5%
Avg. per client: $1.26M

Investment companies

Clients: 10
Regulatory AUM: $5,929,506,187
Share: 14.6%
Avg. per client: $593.0M

Pooled investment vehicles

Clients: 27
Regulatory AUM: $3,695,432,952
Share: 9.1%
Avg. per client: $136.9M

Pension and profit-sharing plans

Clients: 209
Regulatory AUM: $641,557,321
Share: 1.6%
Avg. per client: $3.07M

Charitable organizations

Clients: 112
Regulatory AUM: $164,579,135
Share: 0.4%
Avg. per client: $1.47M

State or municipal government entities

Clients: 24
Regulatory AUM: $14,993,910,601
Share: 36.9%
Avg. per client: $624.7M

Other investment advisers

Clients: 3
Regulatory AUM: $9,677,111,042
Share: 23.8%
Avg. per client: $3.23B

Corporations and other businesses

Clients: 1,951
Regulatory AUM: $2,065,386,026
Share: 5.1%
Avg. per client: $1.06M

Other

Clients: 1
Regulatory AUM: $33,047,467
Share: 0.1%
Avg. per client: $33.0M

Total

Clients: 13,504
Regulatory AUM: $40,646,678,109
Share: 100%
Avg. per client: $3.01M

What it does

Brandes Investment Partners provides portfolio management for individuals and small businesses, portfolio management for investment companies, portfolio management for pooled vehicles and portfolio management for institutions. It is paid through a percentage of assets, fixed fees and performance-based fees.

Brandes Investment Partners provided financial planning to 0 clients last fiscal year and advises 18 private funds.

97.8% of assets ($39.73B across 10,638 accounts) are managed with discretion; $913.2M across 2,866 accounts are not. $4.32B sits in a wrap fee program the firm both sponsors and manages. 1% of clients are outside the U.S., and 18 clients received advice without assets under management last fiscal year.

What the accounts hold

Separately managed account assets by class, year end

Stocks95%
- Exchange-traded equities91%
- Non-exchange-traded equities4%
Funds1%
Bonds2%
Cash2%

Custodians

Brandes Investment Partners’ client accounts are held mainly at State Street Bank and Trust, with 13% of managed assets, and The Northern Trust, with 10%. Brandes Investment Partners has custody of $2.40B for 18 clients.

Managed account assets by custodian

The Northern TrustThe Northern Trust Company · Chicago, IL · $3.87B10%
State Street Bank and TrustState Street Bank and Trust Company · Boston, MA · $5.21B13%
J.P. MorganJpmorgan Chase Bank, N.A. New York · New York, NY · $1.77B4%
All other custodians$29.80B73%

Ownership and leadership

Brandes Worldwide Holdings, L.P. owns 75% or more of Brandes Investment Partners, and Oliver Murray is its CEO.

Who owns the firm

Brandes Investment Partners, LP· the adviser

Brandes Worldwide Holdings, L.P.
Control person · since October 2004
Owns 75% or more of Brandes Investment Partners, LP
- Co-GP, LLC
  General partner · Control person · since February 2018
  - Glenn Carlson
    Control person · since February 2018
    Owns 75% or more of Co-GP, LLC

Leadership

Oliver Murray
Chief Executive Officer
Roberta Loubier
Global Head of Compliance (chief Compliance Officer)
Glenn Carlson
Executive Director
Stephen Farnsworth
Operations Director
Karen Kaligian
Director of Human Resources
Kenneth Little
Managing Director of Investments
Jon Nakagawa
Finance Director
Joseph Scafidi
Trading Director
Dylan Turner
Managing Director Portfolio Management and Client Service
Brent Woods
Executive Director

Staff

149 employees
35 in advisory functions
24 state-registered reps
20 broker-dealer reps

Reported holdings

Brandes Investment Partners’ reported 13F holdings total $14.26B across 193 positions, and the ten largest make up 21.0% of it.

$14.26B
Reported 13F value: 193
Positions: 21.0%
In the 10 largest: +1.0%
Value vs. prior quarter

Ten largest positions, share of reported value

Cae Inc.3.2%
Embraer S.A. · Sponsored ADS2.7%
Mohawk Inds Inc.2.4%
Open Text Corp.2.0%
Grifols S A · SP ADR Rep B Nvt1.9%
Nice Ltd · Sponsored ADR1.8%
Becton Dickinson & CO1.8%
Millicom Intl Cellular S A · Com Stk1.8%
Cnh Indl N V1.7%
Merck & CO Inc.1.7%

Together, the ten largest are 21.0% of reported value.

The 50 largest positions and quarterly changesQuarter ended 30 June 2026 · filed 14 August 2026

A 13F covers only exchange-traded long positions the firm holds with discretion, so this $14.26B is not its $40.65B in regulatory assets and does not represent any individual client's portfolio.

Fees

Brandes Investment Partners is paid through a percentage of assets under management, fixed fees (other than subscription fees) and performance-based fees.

Brandes Investment Partners’ fee rates are not included in this profile. Find its brochure on the SEC’s site.

Offices and registrations

Besides its headquarters, Brandes Investment Partners has 1 office, with 2 listed addresses across 2 states.

Listed office addresses by state

California · 1 listed address

4275 Executive Square, 5th Floor, La JollaHQ

Registration details

Legal name: Brandes Investment Partners, LP
Headquarters: 4275 Executive Square, 5th Floor, La Jolla, CA 92037
Phone: 858-755-0239
Website: www.brandes.com
SEC file: 801-24896
Structure: Delaware limited partnership
Fiscal year end: December

This directory does not report disciplinary history, for any firm or individual, in either direction. The SEC publishes the complete record, including any disciplinary events, and it is the authoritative place to check one. See this firm's record on adviserinfo.sec.gov

Common questions

How many clients does Brandes Investment Partners have?

Brandes Investment Partners has 13,504 clients and manages $40.6 billion for them, as of April 2026. They include 9,723 other individuals, 1,951 corporations and other businesses and 1,444 high-net-worth individuals.

Source: Form ADV Part 1A, Items 5.D and 5.F, filed 10 April 2026

What services does Brandes Investment Partners offer?

Source: Form ADV Part 1A, Item 5.G, from the SEC's 2 October 2026 data file

Which custodians does Brandes Investment Partners use?

Brandes Investment Partners’ separately managed account assets are held at State Street Bank and Trust Company (Boston, MA), with $5,208,794,688, The Northern Trust Company (Chicago, IL), with $3,869,657,842 and Jpmorgan Chase Bank, N.A. New York (New York, NY), with $1,768,447,747. Only custodians holding at least a tenth of those assets are named.

Source: Form ADV Part 1A, Schedule D, Section 5.K.(3), filed 10 April 2026

How many financial advisors does Brandes Investment Partners have?

Brandes Investment Partners has 24 investment adviser representatives registered with state securities authorities, out of 149 employees, and 35 perform investment advisory functions. 20 are registered representatives of a broker-dealer and 0 are licensed insurance agents.

Source: Form ADV Part 1A, Items 5.A and 5.B, from the SEC's 2 October 2026 data file

What does Brandes Investment Partners invest in?

At the end of its last fiscal year, Brandes Investment Partners’ separately managed accounts held 91% exchange-traded equities, 4% non-exchange-traded equities, 2% U.S. government and agency bonds, 2% cash and equivalents and 1% registered funds (mutual funds, ETFs, BDCs). It advises 18 private funds.

Source: Form ADV Part 1A, Items 5.K.(1) and 7.B, from the SEC's 2 October 2026 data file

Who owns Brandes Investment Partners?

Brandes Investment Partners is owned through a chain of holding companies by Glenn Carlson. Its direct owner is Brandes Worldwide Holdings, L.P. (75% or more).

Source: Form ADV Part 1A, Schedules A and B, filed 10 April 2026

How does Brandes Investment Partners get paid?

Brandes Investment Partners is paid through a percentage of assets under management, fixed fees and performance-based fees. Its Form ADV lists no commissions among how it is paid.

Source: Form ADV Part 1A, Item 5.E, from the SEC's 2 October 2026 data file