13F-HR 1 v065934_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: December 31, 2006 ------------------------------ 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: Adelaide Pund ---------------------------------------------------------------------- Title: Head of Compliance ---------------------------------------------------------------------- Phone: (858) 755-0239 ---------------------------------------------------------------------- Signature, Place, and Date of Signing: /s/ Adelaide Pund San Diego, CA 2/14/07 ---------------------- ------------------- ------------ [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: 206 ------------------------------ Form 13F Information Table Value Total: $ 56,185,606 ------------------------------ (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 ----------------------------------------------------------------------------------------------------------------------------------- ABN AMRO HLDG NV SPONSORED ADR 000937102 902989 28174382 SH Sole 28174382 AT&T INC COM 00206R102 538794 15071160 SH Sole 15071160 ADAPTEC INC COM 00651F108 13330 2860577 SH Sole 2860577 ADMINISTRADORA FONDOS PENSIO SPONSORED ADR 00709P108 30460 1184760 SH Sole 1184760 AEGON NV ORD AMER REG 007924103 337492 17809608 SH Sole 17809608 AGERE SYS INC COM 00845V308 92654 4833284 SH Sole 4833284 AKZO NOBEL NV SPONSORED ADR 010199305 628463 10324676 SH Sole 10324676 ALCATEL SPONSORED ADR 013904305 1644115 115619885 SH Sole 115619885 ALTRIA GROUP INC COM 02209S103 524005 6105856 SH Sole 6105856 AMERICAN AXLE & MFG HLDGS IN COM 024061103 73617 3876643 SH Sole 3876643 AMERICAN GREETINGS CORP CL A 026375105 36730 1538737 SH Sole 1538737 ARVINMERITOR INC COM 043353101 55047 3019603 SH Sole 3019603 BCE INC COM 05534B109 5625 208711 SH Sole 208711 BISYS GROUP INC COM 055472104 23852 1847565 SH Sole 1847565 BT GROUP PLC ADR 05577E101 667001 11137096 SH Sole 11137096 BELLSOUTH CORP COM 079860102 884342 18771850 SH Sole 18771850 BIOVAIL CORP COM 09067J109 3283 155170 SH Sole 155170 BIOVAIL CORP COM 09067J109 12720 602390 SH Sole 602390 BLOCK H & R INC COM 093671105 113524 4927263 SH Sole 4927263 BORLAND SOFTWARE CORP COM 099849101 9602 1765085 SH Sole 1765085 BOSTON SCIENTIFIC CORP COM 101137107 825968 48077272 SH Sole 48077272 BRASIL TELECOM PARTICIPACOES SPON ADR PFD 105530109 318449 7459577 SH Sole 7459577 BRIGGS & STRATTON CORP COM 109043109 67545 2506293 SH Sole 2506293 BRILLIANCE CHINA AUTO HLDG L SPONSORED ADR 10949Q105 8831 514950 SH Sole 514950 BRISTOL MYERS SQUIBB CO COM 110122108 1300879 49425487 SH Sole 49425487 BRITISH SKY BROADCASTING GRO SPONSORED ADR 111013108 209931 5095418 SH Sole 5095418 CAREER EDUCATION CORP COM 141665109 8683 350390 SH Sole 350390 CELESTICA INC SUB VTG SHS 15101Q108 76231 9760711 SH Sole 9760711 CELESTICA INC SUB VTG SHS 15101Q108 8715 1118120 SH Sole 1118120 CHEMTURA CORP COM 163893100 125277 13009058 SH Sole 13009058 CHIQUITA BRANDS INTL INC COM 170032809 14937 935325 SH Sole 935325 CHUNGHWA TELECOM CO LTD SPONSORED ADR 17133Q205 39602 2007200 SH Sole 2007200 CIBA SPECIALTY CHEMICALS HLD SPONSORED ADR 17162W206 11689 350930 SH Sole 350930 CINCINNATI BELL INC NEW COM 171871106 46582 10192913 SH Sole 10192913 CITIGROUP INC COM 172967101 14230 255480 SH Sole 255480 COACHMEN INDS INC COM 189873102 7756 705084 SH Sole 705084 COMPANHIA DE SANEAMENTO BASI SPONSORED ADR 20441A102 10856 320613 SH Sole 320613 COMPANIA ANONIMA NACIONL TEL SPON ADR D 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28336L109 229198 14999897 SH Sole 14999897 ELECTRONIC DATA SYS NEW COM 285661104 562312 20410601 SH Sole 20410601 EMBRATEL PARTICIPACOES S A SP ADR PFD NEW 29081N209 697 42641 SH Sole 42641 FAIRFAX FINL HLDGS LTD SUB VTG 303901102 51431 259098 SH Sole 259098 FAIRFAX FINL HLDGS LTD SUB VTG 303901102 9330 46920 SH Sole 46920 FEDERAL SIGNAL CORP COM 313855108 272 16930 SH Sole 16930 FIFTH THIRD BANCORP COM 316773100 605107 14783958 SH Sole 14783958 FIRST BANCORP P R COM 318672102 38906 4082454 SH Sole 4082454 FLEETWOOD ENTERPRISES INC COM 339099103 3170 400802 SH Sole 400802 FORD MTR CO DEL COM PAR $0.01 345370860 1243971 165642005 SH Sole 165642005 FRANCE TELECOM SPONSORED ADR 35177Q105 875189 31595272 SH Sole 31595272 FRIEDMAN BILLINGS RAMSEY GRO CLA 358434108 14875 1859345 SH Sole 1859345 FUJIFILM HLDGS CORP ADR 2 ORD 35958N107 577131 13963961 SH Sole 13963961 FURNITURE BRANDES INTL INC COM 360921100 1434 88380 SH Sole 88380 GANNETT INC COM 364730101 935516 15473307 SH Sole 15473307 GATEWAY INC COM 367626108 80326 39963217 SH Sole 39963217 GENERAL MTRS CORP COM 370442105 1556369 50663040 SH Sole 50663040 GEORGIA GULF CORP COM PAR $0.01 373200203 1698 87930 SH Sole 87930 GLAXOSMITHKLINE PLC SPONSORED ADR 37733W105 545843 10345775 SH Sole 10345775 GOODYEAR TIRE & RUBR CO COM 382550101 489196 23306130 SH Sole 23306130 GRUPO FINANCIERO GALICIA S A SP ADR 10 SH B 399909100 23991 2509533 SH Sole 2509533 GRUPO TELEVISA SA DE CV SP ADR REP ORD 40049J206 1052 38962 SH Sole 38962 HSBC HLDGS PLC SPON ADR NEW 404280406 3851 42015 SH Sole 42015 HELLENIC TELECOM ORGANIZATN SPONSORED ADR 423325307 47998 3168160 SH Sole 3168160 HITACHI LIMITED ADR 10 COM 433578507 758987 12171056 SH Sole 12171056 HUNTSMAN CORP COM 447011107 93666 4937599 SH Sole 4937599 IDEARC INC COM 451663108 75978 2651940 SH Sole 2651940 INFINEON TECHNOLOGIES AG SPONSORED ADR 45662N103 288020 20528889 SH Sole 20528889 INTEL CORP COM 458140100 1534265 75766197 SH Sole 75766197 INTERNATIONAL BUSINESS MACHS COM 459200101 1031620 10618841 SH Sole 10618841 INTERTAPE POLYMER GROUP INC COM 460919103 13409 2539520 SH Sole 2539520 INTERTAPE POLYMER GROUP INC COM 460919103 9632 1812900 SH Sole 1812900 INTERVOICE INC NEW COM 461142101 2210 288528 SH Sole 288528 JDS UNIPHASE CORP COM 46612J101 4168 250200 SH Sole 250200 KMG AMER CORP COM 482563103 3274 341370 SH Sole 341370 KT CORP SPONSORED ADR 48268K101 993257 39181729 SH Sole 39181729 K2 INC COM 482732104 4793 363347 SH Sole 363347 KANSAS CITY LIFE INS CO COM 484836101 2412 48170 SH Sole 48170 KELLY SVCS INC CL A 488152208 4261 147251 SH Sole 147251 KEMET CORP COM 488360108 35665 4885605 SH Sole 4885605 KINGSWAY FINL SVCS INC COM 496904103 3087 147930 SH Sole 147930 KONINKLIJKE AHOLD N V SPON ADR NEW 500467303 726706 68686783 SH Sole 68686783 KOOR INDS LTD SPONSORED ADR 500507108 4144 398840 SH Sole 398840 KOREA ELECTRIC PWR SPONSORED ADR 500631106 765161 33692702 SH Sole 33692702 KROGER CO COM 501044101 805621 34920735 SH Sole 34920735 LA Z BOY INC COM 505336107 4470 376621 SH Sole 376621 LEAR CORP COM 521865105 104209 3528913 SH Sole 3528913 LOEWS CORP COM 540424108 389176 9384522 SH Sole 9384522 LYONDELL CEHMICAL CO COM 552078107 3532 138120 SH Sole 138120 MAGNA INTL INC CL A 559222401 104023 1291411 SH Sole 1291411 MAGNA INTL INC CL A 559222401 9178 113909 SH Sole 113909 MAGYAR TELEKOM TELECOMMUNS P SPONSORED ADR 559776109 45882 1641569 SH Sole 1641569 MARSH & MCLENNAN COS INC COM 571748102 55593 1813220 SH Sole 1813220 MCCLATCHY CO CL A 579489105 93189 2152172 SH Sole 2152172 MERCK & CO INC COM 589331107 1009774 23159958 SH Sole 23159958 MICROSOFT CORP COM 594918104 1029157 34466064 SH Sole 34466064 MICRON TECHNOLOGY INC COM 595112103 685737 49121577 SH Sole 49121577 MILLEA HOLDINGS INC ADR 60032R106 434107 12102239 SH Sole 12102239 MIRANT CORP NEW *W EXP 01/03/201 60467R118 1859 141884 SH Sole 141884 MITSUBISHI UFJ FINL GROUP IN SPONSORED ADR 606822104 584439 46942864 SH Sole 46942864 MOLSON COORS BREWING CO CL B 60871R209 8787 114949 SH Sole 114949 MOLSON COORS BREWING CO CL B 60871R209 10016 131099 SH Sole 131099 NEC CORP ADR 629050204 34902 7271315 SH Sole 7271315 NATIONAL R V HLDGS INC COM 637277104 1362 369065 SH Sole 369065 NATIONAL WESTMINSTER BK PLC ADR REP PREF B 638539700 353 14177 SH Sole 14177 NATIONWIDE FINL SVCS INC CL A 638612101 39771 733786 SH Sole 733786 NATUZZI S P A ADR 63905A101 40329 4739034 SH Sole 4739034 NETBANK INC COM 640933107 1705 367412 SH Sole 367412 NEW YORK TIMES CO CL A 650111107 19461 798900 SH Sole 798900 NIPPON TELEG & TEL CORP SPONSORED ADR 654624105 776629 31328300 SH Sole 31328300 NORTEL NETWORKS CORP NEW COM NEW 656568508 1240481 46407807 SH Sole 46407807 PMA CAP CORP CL A 693419202 5673 615340 SH Sole 615340 POSCO SPONSORED ADR 693483109 13093 158375 SH Sole 158375 PARTNER COMMUNICATIONS CO LT ADR 70211M109 32847 2873760 SH Sole 2873760 PFIZER INC COM 717081103 1170779 45203809 SH Sole 45203809 PHILIPPINE LONG DISTANCE TEL SPONSORED ADR 718252604 6730 131633 SH Sole 131633 PHOENIX COS INC NEW COM 71902E109 38186 2403167 SH Sole 2403167 PIER 1 IMPORTS INC COM 720279108 24906 4185957 SH Sole 4185957 PILGRIMS PRIDE CORP COM 721467108 36815 1250951 SH Sole 1250951 PLANTRONICS INC NEW COM 727493108 5729 270255 SH Sole 270255 POPULAR INC COM 733174106 100378 5592071 SH Sole 5592071 PORTUGAL TELECOM SGPS S A SPONSORED ADR 737273102 467548 36131993 SH Sole 36131993 QLT INC COM 746927102 3627 428690 SH Sole 428690 QLT INC COM 746927102 2380 280900 SH Sole 280900 QUEBECOR WORLD INC COM NON-VTG 748203106 114196 9878541 SH Sole 9878541 QUEBECOR WORLD INC COM NON-VTG 748203106 14135 1219820 SH Sole 1219820 REUTERS GROUP PLC SPONSORED ADR 76132M102 4412 84470 SH Sole 84470 SK TELECOM LTD SPONSORED ADR 78440P108 667848 25220846 SH Sole 25220846 SAFEWAY INC COM NEW 786514208 1231305 35628031 SH Sole 35628031 SANMINA SCI CORP COM 800907107 96999 28115771 SH Sole 28115771 SANOFI AVENTIS SPONSORED ADR 80105N105 687474 14890050 SH Sole 14890050 SARA LEE CORP COM 803111103 568850 33402817 SH Sole 33402817 SCHERING PLOUGH CORP COM 806605101 1276548 53999480 SH Sole 53999480 SCHWEITZER-MAUDUIT INTL INC COM 808541106 4566 175260 SH Sole 175260 SENSIENT TECHNOLOGIES CORP COM 81725T100 4608 187324 SH Sole 187324 SHARPER IMAGE CORP COM 820013100 4379 473433 SH Sole 473433 SIERRA WIRELESS COM 826516106 2638 187590 SH Sole 187590 SIERRA WIRELESS COM 826516106 5069 360100 SH Sole 360100 SIGMATEL INC COM 82661W107 2893 660405 SH Sole 660405 SOLECTRON CORP COM 834182107 97176 30178952 SH Sole 30178952 SONY CORP ADR NEW 835699307 149694 3495062 SH Sole 3495062 STARRETT L S CO CL A 855668109 2419 148861 SH Sole 148861 STMICROELECTRONICS N V NY REGISTRY 861012102 614279 33384743 SH Sole 33384743 STONERIDGE INC COM 86183P102 3441 420129 SH Sole 420129 STRATTEC SEC CORP COM 863111100 2546 54627 SH Sole 54627 SUPERIOR INDS INTL INC COM 868168105 14669 761216 SH Sole 761216 SUPERVALU INC COM 868536103 295842 8275299 SH Sole 8275299 SWISSCOM AG SPONSORED ADR 871013108 362699 9605381 SH Sole 9605381 TDK CORP AMERN DEP SH 872351408 13261 165283 SH Sole 165283 TECUMSEH PRODS CO CL B 878895101 6742 406167 SH Sole 406167 TECUMSEH PRODS CO CL A 878895200 6372 377030 SH Sole 377030 TELE NORTE LESTE PART S A SPON ADR PFD 879246106 382208 25617173 SH Sole 25617173 TELECOM ARGENTINA S A SPON ADR REP B 879273209 206588 10324250 SH Sole 10324250 TELECOM CORP NEW ZEALAND LTD SPONSORED ADR 879278208 164045 6093788 SH Sole 6093788 TELECOM ITALIA S P A NEW SPON ADR ORD 87927Y102 856310 28420499 SH Sole 28420499 TELECOMUNICACOES BRASILEIRAS SPONSORED ADR 879287308 358732 11688880 SH Sole 11688880 TELEFONICA S A SPONSORED ADR 879382208 1065342 16711241 SH Sole 16711241 TELEFONOS DE MEXICO S A SPON ADR ORD L 879403780 1370146 48483596 SH Sole 48483596 TELEMIG CELULAR PART S A SPON ADR PFD 87944E105 1382 36135 SH Sole 36135 TELUS CORP NON-VTG SHS 87971M202 1786 40000 SH Sole 40000 TENET HEALTHCARE CORP COM 88033G100 437011 62698891 SH Sole 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