13F-HR/A 1 v061232_brandes-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, 2006 ------------------------------ Check here if Amendment |X|; Amendment Number: 2 This Amendment (Check only one.): |X| 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 12/22/06 ---------------------- ------------------- ------------ [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: 213 ------------------------------ Form 13F Information Table Value Total: $ 52,880,853 ------------------------------ (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 (x$1000) PRN AMT PRN CALL DISCRETION MANAGERS SOLE SHARED NONE CLASS ----------------------------------------------------------------------------------------------------------------------------------- ABN AMRO HLDG NV SPONSORED ADR 000937102 832684 28565489 SH Sole 28565489 AT&T INC COM 00206R102 501737 15245733 SH Sole 15245733 ADAPTEC INC COM 00651F108 21622 4848012 SH Sole 4848012 ADMINISTRADORA FONDOS PENSIO SPONSORED ADR 00709P108 29419 1144690 SH Sole 1144690 AEGON NV ORD AMER REG 007924103 335542 18285674 SH Sole 18285674 AGERE SYS INC COM 00845V308 130600 7886470 SH Sole 7886470 AKZO NOBEL NV SPONSORED ADR 010199305 574079 10662682 SH Sole 10662682 ALCATEL SPONSORED ADR 013904305 732485 60485951 SH Sole 60485951 ALTRIA GROUP INC COM 02209S103 488570 6232561 SH Sole 6232561 AMERICAN AXLE & MFG HLDGS IN COM 024061103 82438 4446491 SH Sole 4446491 AMERICAN GREETINGS CORP CL A 026375105 46639 1935238 SH Sole 1935238 ARVINMERITOR INC COM 043353101 53299 3485896 SH Sole 3485896 AVAYA INC COM 053499109 6181 515124 SH Sole 515124 BCE INC COM 05534B109 7172 259685 SH Sole 259685 BISYS GROUP INC COM 055472104 25867 2297220 SH Sole 2297220 BT GROUP PLC ADR 05577E101 614284 12285682 SH Sole 12285682 BANCO SANTANDER CENT HISPANO ADR 05964H105 2572 155584 SH Sole 155584 BELLSOUTH CORP COM 079860102 857497 19803616 SH Sole 19803616 BLOCK H & R INC COM 093671105 98900 4505706 SH Sole 4505706 BORLAND SOFTWARE CORP COM 099849101 15540 2679335 SH Sole 2679335 BOSTON SCIENTIFIC CORP COM 101137107 150472 9965019 SH Sole 9965019 BRASIL TELECOM PARTICIPACOES SPON ADR PFD 105530109 244741 7260187 SH Sole 7260187 BRIGGS & STRATTON CORP COM 109043109 37610 1309096 SH Sole 1309096 BRILLIANCE CHINA AUTO HLDG L SPONSORED ADR 10949Q105 8487 524890 SH Sole 524890 BRISTOL MYERS SQUIBB CO COM 110122108 1245104 50490847 SH Sole 50490847 BRITISH SKY BROADCASTING GRO SPONSORED ADR 111013108 197059 4744968 SH Sole 4744968 CNA FINL CORP COM 126117100 429 11510 SH Sole 11510 CELESTICA INC SUB VTG SHS 15101Q108 99439 8677077 SH Sole 8677077 CELESTICA INC SUB VTG SHS 15101Q108 12500 1090820 SH Sole 1090820 CHEMTURA CORP COM 163893100 120586 13150071 SH Sole 13150071 CHIQUITA BRANDS INTL INC COM 170032809 15637 1199190 SH Sole 1199190 CHUNGHWA TELECOM CO LTD SPONSORED ADR 17133Q205 35775 2007553 SH Sole 2007553 CIBA SPECIALTY CHEMICALS HLD SPONSORED ADR 17162W206 11069 373445 SH Sole 373445 CINCINNATI BELL INC NEW COM 171871106 47521 10175755 SH Sole 10175755 CITIGROUP INC COM 172967101 11014 220408 SH Sole 220408 COACHMEN INDS INC COM 189873102 16397 1351770 SH Sole 1351770 COMPANHIA DE SANEAMENTO BASI SPONSORED ADR 20441A102 10196 331803 SH Sole 331803 COMPANIA ANONIMA NACIONL TEL SPON ADR D 204421101 319404 16661660 SH Sole 16661660 CONAGRA FOODS INC COM 205887102 104520 4043312 SH Sole 4043312 CONSECO INC COM NEW 208464883 288 14050 SH Sole 14050 CONVERIUM HLDG AG SPONSORED ADR 21248N107 414 65780 SH Sole 65780 COOPER TIRE & RUBR CO COM 216831107 78903 7675370 SH Sole 7675370 COST PLUS INC CALIF COM 221485105 6722 543385 SH Sole 543385 DEL MONTE FOODS CO COM 24522P103 17815 1652559 SH Sole 1652559 DELL INC COM 24702R101 1196787 49068773 SH Sole 49068773 DELUXE CORP COM 248019101 41578 1902877 SH Sole 1902877 DEUTSCHE TELEKOM AG SPONSORED ADR 251566105 915924 56960443 SH Sole 56960443 DOMTAR INC COM 257561100 89943 15116415 SH Sole 15116415 DOMTAR INC COM 257561100 13292 2234030 SH Sole 2234030 DORAL FINL CORP COM 25811P100 7923 1464425 SH Sole 1464425 DOREL INDS INC CL B SUB VTG 25822C205 18686 720360 SH Sole 720360 DOREL INDS INC CL B SUB VTG 25822C205 6495 250500 SH Sole 250500 DYNEGY INC NEW CL A 26816Q101 36572 6294722 SH Sole 6294722 ESS TECHNOLOGY INC COM 269151106 2782 2700794 SH Sole 2700794 EASTMAN KODAK CO COM 277461109 789974 34617616 SH Sole 34617616 EL PASO CORP COM 28336L109 205455 15230182 SH Sole 15230182 ELECTRONIC DATA SYS NEW COM 285661104 509121 21125353 SH Sole 21125353 EMBRATEL PARTICIPACOES S A SP ADR PFD NEW 29081N209 14100 868741 SH Sole 868741 ESPEED INC CL A 296643109 1573 166634 SH Sole 166634 FAIRFAX FINL HLDGS LTD SUB VTG 303901102 133207 884099 SH Sole 884099 FAIRFAX FINL HLDGS LTD SUB VTG 303901102 12910 85680 SH Sole 85680 FEDERAL SIGNAL CORP COM 313855108 278 17800 SH Sole 17800 FIFTH THIRD BANCORP COM 316773100 550665 14015393 SH Sole 14015393 FINISH LINE INC CL A 317923100 223 16770 SH Sole 16770 FIRST BANCORP P R COM 318672102 36025 3467316 SH Sole 3467316 FLEETWOOD ENTERPRISES INC COM 339099103 8800 1157865 SH Sole 1157865 FORD MTR CO DEL COM PAR $0.01 345370860 1357798 168252558 SH Sole 168252558 FRANCE TELECOM SPONSORED ADR 35177Q105 764059 32402830 SH Sole 32402830 FUJI PHOTO FILM LTD ADR 359586302 578812 15875274 SH Sole 15875274 GANNETT INC COM 364730101 824446 14469037 SH Sole 14469037 GATEWAY INC COM 367626108 91084 47938685 SH Sole 47938685 GENERAL MTRS CORP COM 370442105 1660966 51138106 SH Sole 51138106 GLAXOSMITHKLINE PLC SPONSORED ADR 37733W105 488050 8831887 SH Sole 8831887 GOODYEAR TIRE & RUBR CO COM 382550101 374552 26174124 SH Sole 26174124 GRUPO FINANCIERO GALICIA S A SP ADR 10 SH B 399909100 30375 4339253 SH Sole 4339253 GRUPO TELEVISA SA DE CV SP ADR REP ORD 40049J206 934 40622 SH Sole 40622 HELLENIC TELECOM ORGANIZATN SPONSORED ADR 423325307 39827 3256505 SH Sole 3256505 HITACHI LIMITED ADR 10 COM 433578507 671507 11383401 SH Sole 11383401 HUNTSMAN CORP COM 447011107 67577 3702863 SH Sole 3702863 IKON OFFICE SOLUTIONS INC COM 451713101 37682 2691585 SH Sole 2691585 INFINEON TECHNOLOGIES AG SPONSORED ADR 45662N103 283738 22572613 SH Sole 22572613 INNOSPEC INC COM 45768S105 6215 207572 SH Sole 207572 INTEL CORP COM 458140100 1636837 77209269 SH Sole 77209269 INTERNATIONAL BUSINESS MACHS COM 459200101 978024 10827228 SH Sole 10827228 INTERTAPE POLYMER GROUP INC COM 460919103 5576 937180 SH Sole 937180 INTERTAPE POLYMER GROUP INC COM 460919104 7657 1287000 SH Sole 1287000 INTERVOICE INC NEW COM 461142101 5228 809316 SH Sole 809316 JDS UNIPHASE CORP COM 46612J101 43656 2675000 SH Sole 2675000 JP MORGAN CHASE & CO COM 46625H100 425711 9038454 SH Sole 9038454 JO-ANN STORES INC COM 47758P307 22546 1266615 SH Sole 1266615 KMG AMER CORP COM 482563103 5580 734233 SH Sole 734233 KT CORP SPONSORED ADR 48268K101 842279 39414079 SH Sole 39414079 K2 INC COM 482732104 19091 1520023 SH Sole 1520023 KANSAS CITY LIFE INS CO COM 484836101 6264 120460 SH Sole 120460 KELLY SVCS INC CL A 488152208 13185 442148 SH Sole 442148 KEMET CORP COM 488360108 48372 5779156 SH Sole 5779156 KINGSWAY FINL SVCS INC COM 496904103 4895 216310 SH Sole 216310 KONINKLIJKE AHOLD N V SPON ADR NEW 500467303 721638 70061987 SH Sole 69896223 KOOR INDS LTD SPONSORED ADR 500507108 2433 227340 SH Sole 227340 KOREA ELECTRIC PWR SPONSORED ADR 500631106 670847 34157194 SH Sole 34157194 KROGER CO COM 501044101 783809 35418404 SH Sole 35418404 LA Z BOY INC COM 505336107 5136 397185 SH Sole 397185 LEAR CORP COM 521865105 117372 4209895 SH Sole 4209895 LEXMARK INTL NEW CL A 529771107 243910 4022266 SH Sole 4022266 LOEWS CORP COM 540424108 362845 9515998 SH Sole 9515998 LUCENT TECHNOLOGIES INC COM 549463107 760701 323702643 SH Sole 323702643 MAGNA INTL INC CL A 559222401 36637 498395 SH Sole 498395 MAGNA INTL INC CL A 559222401 9905 134734 SH Sole 134734 MAGYAR TELEKOM TELECOMMUNS P SPONSORED ADR 559776109 34474 1586492 SH Sole 1586492 MARSH & MCLENNAN COS INC COM 571748102 56515 1988554 SH Sole 1988554 MATTEL INC COM 577081102 95419 4355055 SH Sole 4355055 MCCLATCHY CO CL A 579489105 73937 1693871 SH Sole 1693871 MERCK & CO INC COM 589331107 1224366 27495310 SH Sole 27495310 MICROSOFT CORP COM 594918104 996575 35041322 SH Sole 35041322 MICRON TECHNOLOGY INC COM 595112103 591304 40977389 SH Sole 40977389 MILLEA HOLDINGS INC ADR 60032R106 438823 4827536 SH Sole 4827536 MIRANT CORP NEW *W EXP 01/03/201 60467R118 1515 141884 SH Sole 141884 MITSUBISHI UFJ FINL GROUP IN SPONSORED ADR 606822104 417703 32993896 SH Sole 32993896 MOLSON COORS BREWING CO CL B 60871R209 8040 118323 SH Sole 118323 MOLSON COORS BREWING CO CL B 60871R209 11941 175537 SH Sole 175537 NATIONAL R V HLDGS INC COM 637277104 2415 743007 SH Sole 743007 NATIONAL WESTMINSTER BK PLC ADR REP PREF B 638539700 365 14177 SH Sole 14177 NATIONWIDE FINL SVCS INC CL A 638612101 47670 951694 SH Sole 951694 NATUZZI S P A ADR 63905A101 34199 4823601 SH Sole 4823601 NETBANK INC COM 640933107 6819 1144080 SH Sole 1144080 NEW YORK TIMES CO CL A 650111107 15827 681300 SH Sole 681300 NIPPON TELEG & TEL CORP SPONSORED ADR 654624105 831556 32056886 SH Sole 32056886 NORTEL NETWORKS CORP NEW COM 656568102 940713 425662022 SH Sole 425662022 NORTEL NETWORKS CORP NEW COM 656568102 8613 3898830 SH Sole 3898830 PMA CAP CORP CL A 693419202 11318 1143269 SH Sole 1143269 POSCO SPONSORED ADR 693483109 10601 158265 SH Sole 158265 PARTNER COMMUNICATIONS CO LT ADR 70211M109 37118 3465725 SH Sole 3465725 PFIZER INC COM 717081103 1280262 45528520 SH Sole 45528520 PHILIPPINE LONG DISTANCE TEL SPONSORED ADR 718252604 7869 178513 SH Sole 178513 PHOENIX COS INC NEW COM 71902E109 42686 2862936 SH Sole 2862936 PIER 1 IMPORTS INC COM 720279108 35927 5024710 SH Sole 5024710 PILGRIMS PRIDE CORP COM 721467108 34949 1278786 SH Sole 1278786 PLANTRONICS INC NEW COM 727493108 11604 644325 SH Sole 644325 POPULAR INC COM 733174106 29942 1652451 SH Sole 1652451 PORTUGAL TELECOM SGPS S A SPONSORED ADR 737273102 449535 36696707 SH Sole 36696707 QLT INC COM 746927102 3768 472810 SH Sole 472810 QLT INC COM 746927102 2242 280900 SH Sole 280900 QUEBECOR WORLD INC COM NON-VTG 748203106 121905 10108226 SH Sole 10108226 QUEBECOR WORLD INC COM NON-VTG 748203106 15677 1300140 SH Sole 1300140 QUINENCO S A SPONSORED ADR 748718103 1001 77660 SH Sole 77660 REUTERS GROUP PLC SPONSORED ADR 76132M102 4197 87060 SH Sole 87060 ROYAL GROUP TECHNOLOGIES LTD COM 779915107 96704 8451930 SH Sole 8451930 ROYAL GROUP TECHNOLOGIES LTD COM 779915107 20910 1827582 SH Sole 1827582 SK TELECOM LTD SPONSORED ADR 78440P108 594729 25275348 SH Sole 25275348 SAFEWAY INC COM NEW 786514208 1123800 38738376 SH Sole 38738376 SANMINA SCI CORP COM 800907107 106013 27113358 SH Sole 27113358 SANOFI AVENTIS SPONSORED ADR 80105N105 352045 8015601 SH Sole 8015601 SARA LEE CORP COM 803111103 524870 31223655 SH Sole 31223655 SCHERING PLOUGH CORP COM 806605101 1347415 58967825 SH Sole 58967825 SCHWEITZER-MAUDUIT INTL INC COM 808541106 3132 150495 SH Sole 150495 SENSIENT TECHNOLOGIES CORP COM 81725T100 22261 955824 SH Sole 955824 SHARPER IMAGE CORP COM 820013100 7764 738708 SH Sole 738708 SIGMATEL INC COM 82661W107 7255 1281735 SH Sole 1281735 SOLECTRON CORP COM 834182107 93738 28234485 SH Sole 28234485 SONY CORP ADR NEW 835699307 109418 2715085 SH Sole 2715085 STARRETT L S CO CL A 855668109 5326 371166 SH Sole 371166 STMICROELECTRONICS N V NY REGISTRY 861012102 586636 34007905 SH Sole 34007905 STONERIDGE INC COM 86183P102 7519 954154 SH Sole 954154 STRATTEC SEC CORP COM 863111100 1441 36572 SH Sole 36572 SUN MICROSYSTEMS INC COM 866810104 59202 11319697 SH Sole 11319697 SUPERIOR INDS INTL INC COM 868168105 21541 1225315 SH Sole 1225315 SUPERVALU INC COM 868536103 272100 8245463 SH Sole 8245463 SWISSCOM AG SPONSORED ADR 871013108 327070 9639556 SH Sole 9639556 SYNOPSYS INC COM 871607107 5071 228835 SH Sole 228835 TDK CORP AMERN DEP SH 872351408 9765 122007 SH Sole 122007 TALBOTS INC COM 874161102 7875 269060 SH Sole 269060 TECUMSEH PRODS CO CL B 878895101 11541 630636 SH Sole 630636 TECUMSEH PRODS CO CL A 878895200 14819 798005 SH Sole 798005 TELE NORTE LESTE PART S A SPON ADR PFD 879246106 339315 22711870 SH Sole 22711870 TELECOM ARGENTINA S A SPON ADR REP B 879273209 161905 11597788 SH Sole 11597788 TELECOM CORP NEW ZEALAND LTD SPONSORED ADR 879278208 143706 6353065 SH Sole 6353065 TELECOM ITALIA S P A NEW SPON ADR ORD 87927Y102 775152 26610097 SH Sole 26610097 TELECOMUNICACOES BRASILEIRAS SPONSORED ADR 879287308 333516 11885806 SH Sole 11885806 TELEFONICA S A SPONSORED ADR 879382208 902171 17054276 SH Sole 17054276 TELEFONOS DE MEXICO S A SPON ADR ORD L 879403780 1317046 49327555 SH Sole 49327555 TELEMIG CELULAR PART S A SPON ADR PFD 87944E105 1287 36221 SH Sole 36221 TELUS CORP NON-VTG SHS 87971M202 2145 40000 SH Sole 40000 TENET HEALTHCARE CORP COM 88033G100 525802 64674300 SH Sole 64674300 THOMSON SPONSORED ADR 885118109 263189 15902647 SH Sole 15902647 3COM CORP COM 885535104 91633 18932484 SH Sole 18932484 TIM PARTICIPACOES S A SPONS ADR PFD 88706P106 72898 2320120 SH Sole 2320120 TOMKINS PLC SPONSORED ADR 890030208 354 19325 SH Sole 19325 TRIBUNE CO NEW COM 896047107 28678 864048 SH Sole 864048 TRONOX INC COM CL B 897051207 10141 795395 SH Sole 795395 TYCO INTL LTD NEW COM 902124106 693635 23441519 SH Sole 23441519 TYSON FOODS INC CL A 902494103 13757 912875 SH Sole 912875 UNILEVER PLC SPON ADR NEW 904767704 102600 4132085 SH Sole 4132085 UNILEVER N V NY SHS NEW 904784709 1068733 43515198 SH Sole 43515198 UNISYS CORP COM 909214108 318564 51298561 SH Sole 51298561 UNITED MICROELECTRONICS CORP SPONSORED ADR 910873207 23829 7761977 SH Sole 7761977 UTSTARCOM INC COM 918076100 121024 12349421 SH Sole 12349421 VERIZON COMMUNICATIONS COM 92343V104 861787 23513977 SH Sole 23513977 VISTEON CORP COM 92839U107 96052 12158483 SH Sole 12158483 VIVO PARTICIPACOES S A SPON ADR PFD 92855S101 97755 29093723 SH Sole 29093723 W HLDG CO INC COM 929251106 30153 5163112 SH Sole 5163112 WABASH NATL CORP COM 929566107 11585 797845 SH Sole 797845 WELLMAN INC COM 949702104 8257 1970686 SH Sole 1970686 WHIRLPOOL CORP COM 963320106 77129 884511 SH Sole 884511 WYETH COM 983024100 44766 840199 SH Sole 840199 XEROX CORP COM 984121103 827426 51107216 SH Sole 51107216 DAIMLERCHRYSLER AG ORD D1668R123 549322 10689279 SH Sole 10689279 DAIMLERCHRYSLER AG ORD D1668R123 1117950 21689188 SH Sole 21689188 FRESH DEL MONTE PRODUCE INC ORD G36738105 96938 6021009 SH Sole 6021009 IPC HLDGS LTD ORD G4933P101 70245 2299344 SH Sole 2299344 MONTPELIER RE HOLDINGS LTD SHS G62185106 10926 558600 SH Sole 558600 PXRE GROUP LTD COM G73018106 40016 9241533 SH Sole 9241533 QUANTA CAPITAL HLDGS LTD SHS G7313F106 10186 5223570 SH Sole 5223570 BANCO LATINOAMERICANO DE EXP CL E P16994132 40632 2660931 SH Sole 2660931