13F-HR 1 v776332-1_13fhr.txt 13F-HR 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, 2012 --------------------------------- 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: Ian Rose -------------------------------------------------------------------- Title: General Counsel -------------------------------------------------------------------- Phone: (858) 755-0239 -------------------------------------------------------------------- Signature, Place, and Date of Signing: /s/ Ian Rose San Diego, CA 11/13/12 -------------------- ----------------- ----------- [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).) FORM 13F SUMMARY PAGE Report Summary: Number of Other Included Managers: 4 ------------ Form 13F Information Table Entry Total: 283 ------------ Form 13F Information Table Value Total: $8,161,694 ------------ (thousands) List of Other Included Managers: Provide a numbered list of the name(s) and Form 13F file number(s) of all institutional investment managers with respect to which this report is filed, other than the manager filing this report. [If there are no entries in this list, state "NONE" and omit the column headings and list entries.] No. Form 13F File Number Name 1 28-14511 American Beacon Advisers, Inc. --------- -------------------- -------------------------------------------- 2 28-04547 ING Investments, LLC --------- -------------------- -------------------------------------------- 3 28-10477 Columbia Management Investment Advisers, LLC --------- -------------------- -------------------------------------------- 4 28-14898 Brandes Investment Partners & Co. --------- -------------------- --------------------------------------------

------------------------------------------------------------------------------------------------------------------------------------ AMT Voting Voting Voting ISSUER Value PRN Investment Other Authority Authority Authority ISSUER NAME DESCRIPTION CUSIP (In $1,000s) Quantity CALL Discretion Managers Sole Shared None ------------------------------------------------------------------------------------------------------------------------------------ AMERICA MOVIL SAB DE CV SPON ADR L SHS 02364W105 $ 19,789 778,195 SH DEFINED 4 778,195 AMERICA MOVIL SAB DE CV SPON ADR L SHS 02364W105 $ 264 10,388 SH OTHER 1 10,388 AMERICA MOVIL SAB DE CV SPON ADR L SHS 02364W105 $ 2,184 85,900 SH OTHER 2 85,900 AMERICA MOVIL SAB DE CV SPON ADR L SHS 02364W105 $ 20,944 823,600 SH OTHER 3 823,600 AMERICA MOVIL SAB DE CV SPON ADR L SHS 02364W105 $336,786 13,243,656 SH SOLE 9,634,568 3,609,088 AON PLC SHS CL A G0408V102 $ 6,086 116,398 SH SOLE 60,292 56,106 AON PLC SHS CL A G0408V102 $ 698 13,340 SH DEFINED 4 13,340 ARGO GROUP INTL HLDGS LTD COM G0464B107 $ 14,266 440,456 SH SOLE 310,381 130,075 ARGO GROUP INTL HLDGS LTD COM G0464B107 $ 204 6,300 SH DEFINED 4 6,300 ASIAINFO-LINKAGE INC COM 04518A104 $ 31,728 2,709,490 SH SOLE 2,699,470 10,020 ASIAINFO-LINKAGE INC COM 04518A104 $ 856 73,110 SH OTHER 1 73,110 ASIAINFO-LINKAGE INC COM 04518A104 $ 2,467 210,700 SH DEFINED 4 210,700 BANCO SANTANDER BRASIL S A ADS REP 1 UNIT 05967A107 $122,215 16,582,823 SH SOLE 12,476,071 4,106,752 BANCO SANTANDER BRASIL S A ADS REP 1 UNIT 05967A107 $ 1,039 141,040 SH OTHER 1 141,040 BANCO SANTANDER BRASIL S A ADS REP 1 UNIT 05967A107 $ 6,620 898,170 SH DEFINED 4 898,170 BANCO SANTANDER BRASIL S A ADS REP 1 UNIT 05967A107 $ 7,657 1,038,900 SH OTHER 3 1,038,900 BANCO SANTANDER BRASIL S A ADS REP 1 UNIT 05967A107 $ 1,061 144,000 SH OTHER 2 144,000 BOSTON SCIENTIFIC CORP COM 101137107 $ 12,659 2,205,415 SH DEFINED 4 2,205,415 BOSTON SCIENTIFIC CORP COM 101137107 $ 98,566 17,171,765 SH SOLE 13,828,998 3,342,767 BRIGGS & STRATTON CORP COM 109043109 $ 3,349 179,359 SH DEFINED 4 179,359 BRIGGS & STRATTON CORP COM 109043109 $ 17,247 923,757 SH SOLE 703,206 220,551 BRINKS CO COM 109696104 $ 219 14,660 SH SOLE 14,190 470 BROCADE COMMUNICATIONS SYS I COM NEW 111621306 $ 99 16,800 SH SOLE 16,800 CANON INC ADR 138006309 $ 82,881 2,589,237 SH SOLE 1,289,671 1,299,566 CAPITOL FED FINL INC COM 14057J101 $ 2,675 230,545 SH SOLE 161,839 68,706 CELESTICA INC SUB VTG SHS 15101Q108 $ 782 109,462 SH SOLE 83,340 26,122 CEMEX SAB DE CV SPON ADR NEW 151290889 $ 1,110 133,244 SH OTHER 2 133,244 CEMEX SAB DE CV SPON ADR NEW 151290889 $ 1,029 123,560 SH OTHER 1 123,560 CEMEX SAB DE CV SPON ADR NEW 151290889 $ 9,811 1,177,809 SH DEFINED 4 1,177,809 CEMEX SAB DE CV SPON ADR NEW 151290889 $ 12,238 1,469,095 SH OTHER 3 1,469,095 CEMEX SAB DE CV SPON ADR NEW 151290889 $238,515 28,633,271 SH SOLE 21,638,159 6,995,112 CENTRAIS ELETRICAS BRASILEIR SPONSORED ADR 15234Q207 $167,349 28,220,785 SH SOLE 20,438,509 7,782,276 CENTRAIS ELETRICAS BRASILEIR SPONSORED ADR 15234Q207 $ 594 100,100 SH OTHER 1 100,100 CENTRAIS ELETRICAS BRASILEIR SPONSORED ADR 15234Q207 $ 7,082 1,194,193 SH DEFINED 4 1,194,193 CENTRAIS ELETRICAS BRASILEIR SPONSORED ADR 15234Q207 $ 10,241 1,727,040 SH OTHER 3 1,727,040 CENTRAIS ELETRICAS BRASILEIR SPONSORED ADR 15234Q207 $ 1,163 196,071 SH OTHER 2 196,071 CHESAPEAKE ENERGY CORP COM 165167107 $ 23,922 1,267,740 SH DEFINED 4 1,267,740 CHESAPEAKE ENERGY CORP COM 165167107 $232,162 12,303,209 SH SOLE 9,984,129 2,319,080 CHEVRON CORP NEW COM 166764100 $ 6,508 55,831 SH SOLE 29,863 25,968 CHEVRON CORP NEW COM 166764100 $ 856 7,340 SH DEFINED 4 7,340 CHINA MOBILE LIMITED SPONSORED ADR 16941M109 $ 9,094 164,275 SH SOLE 160,055 4,220 CHINA YUCHAI INTL LTD COM G21082105 $ 18,259 1,432,078 SH SOLE 1,267,571 164,507 CHINA YUCHAI INTL LTD COM G21082105 $ 973 76,318 SH DEFINED 4 76,318 CHINA YUCHAI INTL LTD COM G21082105 $ 324 25,420 SH OTHER 1 25,420 CISCO SYS INC COM 17275R102 $ 1,190 62,330 SH DEFINED 4 62,330 CISCO SYS INC COM 17275R102 $ 9,045 473,708 SH SOLE 246,721 226,987 CITIGROUP INC COM NEW 172967424 $ 15,022 459,119 SH DEFINED 4 459,119 CITIGROUP INC COM NEW 172967424 $116,332 3,555,390 SH SOLE 2,870,255 685,135 COMCAST CORP NEW CL A SPL 20030N200 $ 10,749 267,605 SH SOLE 267,605 COMCAST CORP NEW CL A SPL 20030N200 $ 1,433 41,180 SH DEFINED 4 41,180 COMFORT SYS USA INC COM 199908104 $ 1,755 160,538 SH SOLE 158,383 2,155 COMFORT SYS USA INC COM 199908104 $ 692 63,272 SH DEFINED 4 63,272 COMPANHIA PARANAENSE ENERG C SPON ADR PFD 20441B407 $ 7,767 473,020 SH SOLE 473,020 COMPUTER SCIENCES CORP COM 205363104 $ 3,928 121,958 SH SOLE 99,120 22,838 COMVERSE TECHNOLOGY INC COM PAR $0.10 205862402 $ 7,001 1,138,447 SH SOLE 780,715 357,732 COMVERSE TECHNOLOGY INC COM PAR $0.10 205862402 $ 2,490 404,935 SH DEFINED 4 404,935 COPA HOLDINGS SA CL A P31076105 $ 837 10,300 SH SOLE 10,300 CORNING INC COM 219350105 $166,432 12,656,413 SH SOLE 10,032,274 2,624,139 CORNING INC COM 219350105 $ 16,148 1,227,969 SH DEFINED 4 1,227,969 COTT CORP QUE COM 22163N106 $ 1,335 168,960 SH DEFINED 4 168,960 CRH PLC ADR 12626K203 $ 96,092 5,004,768 SH SOLE 2,025,000 2,979,768 CUTERA INC COM 232109108 $ 157 21,070 SH SOLE 19,580 1,490 CUTERA INC COM 232109108 $ 126 16,850 SH DEFINED 4 16,850 DEUTSCHE BANK AG NAMEN AKT D18190898 $ 14,833 374,090 SH SOLE 180,995 193,095 DOW CHEM CO COM 260543103 $ 8,881 306,717 SH SOLE 168,443 138,274 DOW CHEM CO COM 260543103 $ 1,110 38,350 SH DEFINED 4 38,350 EMBRAER S A SP ADR REP 4 COM 29082A107 $ 3,887 146,030 SH DEFINED 4 146,030 EMBRAER S A SP ADR REP 4 COM 29082A107 $ 1,256 47,170 SH OTHER 1 47,170 EMBRAER S A SP ADR REP 4 COM 29082A107 $ 59,617 2,239,563 SH SOLE 2,195,138 44,425 ENI S P A SPONSORED ADR 26874R108 $165,656 3,778,660 SH SOLE 1,869,259 1,909,401 ENZON PHARMACEUTICALS INC COM 293904108 $ 192 27,540 SH SOLE 25,955 1,585 ENZON PHARMACEUTICALS INC COM 293904108 $ 157 22,620 SH DEFINED 4 22,620 ERICSSON ADR B SEK 10 294821608 $ 72,744 7,976,343 SH SOLE 3,942,670 4,033,673 EVEREST RE GROUP LTD COM G3223R108 $ 4,611 43,112 SH SOLE 38,353 4,759 FERRO CORP COM 315405100 $ 98 28,450 SH SOLE 26,725 1,725 FERRO CORP COM 315405100 $ 64 18,720 SH DEFINED 4 18,720 FIDELITY NATIONAL FINANCIAL CL A 31620R105 $ 4,066 190,076 SH SOLE 161,734 28,342 FIFTH THIRD BANCORP COM 316773100 $ 368 23,720 SH DEFINED 4 23,720 FIFTH THIRD BANCORP COM 316773100 $ 3,310 213,454 SH SOLE 106,246 107,208 FIRST AMERN FINL CORP COM 31847R102 $ 885 40,853 SH SOLE 19,855 20,998 FLEXTRONICS INTL LTD ORD Y2573F102 $ 1,382 230,410 SH OTHER 1 230,410 FLEXTRONICS INTL LTD ORD Y2573F102 $ 9,464 1,577,257 SH DEFINED 4 1,577,257 FLEXTRONICS INTL LTD ORD Y2573F102 $171,795 28,632,494 SH SOLE 22,806,933 5,825,561 FRANCE TELECOM SPONSORED ADR 35177Q105 $ 98,631 8,071,269 SH SOLE 3,551,601 4,519,668 FRESH DEL MONTE PRODUCE INC ORD G36738105 $ 240 9,365 SH DEFINED 4 9,365 FRESH DEL MONTE PRODUCE INC ORD G36738105 $ 400 15,610 SH SOLE 14,965 645 GENERAL ELECTRIC CO COM 369604103 $ 30,527 1,344,229 SH SOLE 535,444 808,785 GENERAL ELECTRIC CO COM 369604103 $ 582 25,630 SH DEFINED 4 25,630 GLAXOSMITHKLINE PLC SPONSORED ADR 37733W105 $109,635 2,370,996 SH SOLE 1,164,794 1,206,202 GOODYEAR TIRE & RUBR CO COM 382550101 $ 3,564 292,372 SH SOLE 251,770 40,602 GRUPO TELEVISA SA SPON ADR REP ORD 40049J206 $ 494 21,000 SH OTHER 1 21,000 GRUPO TELEVISA SA SPON ADR REP ORD 40049J206 $ 3,457 147,047 SH SOLE 143,917 3,130 HEWLETT PACKARD CO COM 428236103 $132,540 7,769,036 SH SOLE 6,251,339 1,517,697 HEWLETT PACKARD CO COM 428236103 $ 11,700 685,817 SH DEFINED 4 685,817 HIMAX TECHNOLOGIES INC SPONSORED ADR 43289P106 $ 39 20,000 SH SOLE 20,000 HONDA MOTOR LTD AMERN SHS 438128308 $ 75,287 2,436,478 SH SOLE 1,188,781 1,247,697 HOUSTON WIRE & CABLE CO COM 44244K109 $ 127 19,475 SH SOLE 18,945 530 HSBC HLDGS PLC SPON ADR NEW 404280406 $ 27,209 585,649 SH SOLE 246,941 338,708 INGRAM MICRO INC CL A 457153104 $ 13,904 912,928 SH SOLE 663,237 249,691 INGRAM MICRO INC CL A 457153104 $ 1,873 122,983 SH DEFINED 4 122,983 INTEL CORP COM 458140100 $ 64,960 2,867,373 SH SOLE 2,310,837 556,536 INTEL CORP COM 458140100 $ 6,115 269,928 SH DEFINED 4 269,928 INTERNATIONAL FLAVORS&FRAGRA COM 459506101 $ 311 8,125 SH SOLE 7,980 145 INTERNATIONAL SPEEDWAY CORP CL A 460335201 $ 231 11,690 SH SOLE 11,420 270 INVESTORS BANCORP INC COM 46146P102 $ 195 15,875 SH SOLE 15,435 440 ITAU UNIBANCO HLDG SA SPON ADR REP PFD 465562106 $ 10,289 613,842 SH SOLE 613,842 ITAU UNIBANCO HLDG SA SPON ADR REP PFD 465562106 $ 739 48,340 SH DEFINED 4 48,340 ITAU UNIBANCO HLDG SA SPON ADR REP PFD 465562106 $ 170 11,150 SH OTHER 1 11,150 JOES JEANS INC COM 47777N101 $ 22 20,595 SH SOLE 20,595 JONES GROUP INC COM 48020T101 $ 759 58,990 SH DEFINED 4 58,990 JONES GROUP INC COM 48020T101 $ 8,788 682,832 SH SOLE 449,018 233,814 JPMORGAN CHASE & CO COM 46625H100 $ 14,345 354,365 SH SOLE 249,481 104,884 JPMORGAN CHASE & CO COM 46625H100 $ 1,225 30,250 SH DEFINED 4 30,250 KB FINANCIAL GROUP INC SPONSORED ADR 48241A105 $ 8,478 240,238 SH SOLE 235,306 4,932 KB HOME COM 48666K109 $ 1,070 74,570 SH SOLE 73,945 625 KB HOME COM 48666K109 $ 636 44,320 SH DEFINED 4 44,320 KEYCORP NEW COM 493267108 $ 4,865 556,647 SH SOLE 360,047 196,600 KOREA ELECTRIC PWR SPONSORED ADR 500631106 $ 9,354 753,150 SH OTHER 3 753,150 KOREA ELECTRIC PWR SPONSORED ADR 500631106 $ 88,531 7,128,120 SH SOLE 4,798,719 2,329,401 KROGER CO COM 501044101 $122,771 5,215,429 SH SOLE 4,160,203 1,055,226 KROGER CO COM 501044101 $ 1,568 66,610 SH DEFINED 4 66,610 K-SWISS INC CL A 482686102 $ 41 12,001 SH SOLE 12,001 L & L ENERGY INC COM 50162D100 $ 23 13,086 SH SOLE 13,086 LEAR CORP COM NEW 521865204 $ 11,351 300,366 SH SOLE 201,932 98,434 LEAR CORP COM NEW 521865204 $ 852 22,540 SH DEFINED 4 22,540 LENNAR CORP CL A 526057104 $ 1,471 42,295 SH SOLE 42,155 140 LENNAR CORP CL B 526057302 $ 4,673 173,459 SH SOLE 172,894 565 LENNAR CORP CL B 526057302 $ 2,213 82,129 SH DEFINED 4 82,129 LILLY ELI & CO COM 532457108 $ 12,080 254,799 SH DEFINED 4 254,799 LILLY ELI & CO COM 532457108 $116,779 2,463,163 SH SOLE 2,005,270 457,893 LONGWEI PETROLEUM INV HLDG L COM 543354104 $ 30 16,899 SH SOLE 16,899 LOUISIANA PAC CORP COM 546347105 $ 159 12,725 SH SOLE 12,725 MAGNA INTL INC COM 559222401 $ 6,024 139,258 SH SOLE 122,762 16,496 MAIDENFORM BRANDS INC COM 560305104 $ 269 22,315 SH SOLE 21,665 650 MAKITA CORP ADR NEW 560877300 $ 637 16,490 SH SOLE 16,450 40 MARSH & MCLENNAN COS INC COM 571748102 $ 6,099 179,750 SH SOLE 90,478 89,272 MARSH & MCLENNAN COS INC COM 571748102 $ 707 20,832 SH DEFINED 4 20,832 MASCO CORP COM 574599106 $136,337 9,058,943 SH SOLE 7,435,112 1,623,831 MASCO CORP COM 574599106 $ 14,170 941,523 SH DEFINED 4 941,523 MERCK & CO INC NEW COM 58933Y105 $107,552 2,385,015 SH SOLE 1,936,862 448,153 MERCK & CO INC NEW COM 58933Y105 $ 1,649 36,561 SH DEFINED 4 36,561 MICROSOFT CORP COM 594918104 $281,684 9,465,193 SH SOLE 7,619,126 1,846,067 MICROSOFT CORP COM 594918104 $ 30,176 1,013,980 SH DEFINED 4 1,013,980 MITSUBISHI UFJ FINL GROUP IN SPONSORED ADR 606822104 $ 69,363 14,916,755 SH SOLE 7,423,214 7,493,541 MOLSON COORS BREWING CO CL B 60871R209 $ 10,520 201,241 SH SOLE 201,241 MOLSON COORS BREWING CO CL B 60871R209 $ 1,454 32,270 SH DEFINED 4 32,270 NATIONAL WESTN LIFE INS CO CL A 638522102 $ 1,017 7,097 SH SOLE 7,017 80 NATIONAL WESTN LIFE INS CO CL A 638522102 $ 507 3,539 SH DEFINED 4 3,539 NATUZZI S P A ADR 63905A101 $ 2,666 1,184,737 SH SOLE 384,266 800,471 NATUZZI S P A ADR 63905A101 $ 346 153,556 SH DEFINED 4 153,556 NIPPON TELEG & TEL CORP SPONSORED ADR 654624105 $146,193 6,165,869 SH SOLE 3,072,542 3,093,327 NORTEL INVERSORA S A SPON ADR PFD B 656567401 $ 128 12,460 SH OTHER 1 12,460 NORTEL INVERSORA S A SPON ADR PFD B 656567401 $ 395 38,370 SH DEFINED 4 38,370 NORTEL INVERSORA S A SPON ADR PFD B 656567401 $ 4,403 376,631 SH SOLE 376,631 OCEAN SHORE HLDG CO NEW COM 67501R103 $ 583 43,362 SH DEFINED 4 43,362 OCEAN SHORE HLDG CO NEW COM 67501R103 $ 677 50,371 SH SOLE 49,966 405 OFFICEMAX INC DEL COM 67622P101 $ 2,766 354,215 SH DEFINED 4 354,215 OFFICEMAX INC DEL COM 67622P101 $ 3,459 442,917 SH SOLE 439,187 3,730 OI S.A. SPN ADR REP PFD 670851203 $ 4,497 1,118,577 SH OTHER 3 1,118,577 OI S.A. SPN ADR REP PFD 670851203 $ 2,146 533,880 SH DEFINED 4 533,880 OI S.A. SPN ADR REP PFD 670851203 $ 34,929 7,036,313 SH SOLE 7,036,313 OLD REP INTL CORP COM 680223104 $ 13,469 1,448,317 SH SOLE 1,080,839 367,478 OLD REP INTL CORP COM 680223104 $ 835 89,750 SH DEFINED 4 89,750 OMNIVISION TECHNOLOGIES INC COM 682128103 $ 291 20,820 SH SOLE 19,685 1,135 OMNIVISION TECHNOLOGIES INC COM 682128103 $ 199 14,280 SH DEFINED 4 14,280 ORACLE CORP COM 68389X105 $ 5,879 186,879 SH SOLE 92,714 94,165 ORACLE CORP COM 68389X105 $ 887 28,200 SH DEFINED 4 28,200 ORION MARINE GROUP INC COM 68628V308 $ 1,025 137,887 SH SOLE 136,367 1,520 ORION MARINE GROUP INC COM 68628V308 $ 1,045 140,630 SH DEFINED 4 140,630 OSHKOSH CORP COM 688239201 $ 10,629 387,482 SH SOLE 341,860 45,622 OSHKOSH CORP COM 688239201 $ 1,703 62,070 SH DEFINED 4 62,070 PALOMAR MED TECHNOLOGIES INC COM NEW 697529303 $ 187 29,718 SH SOLE 28,313 1,405 PAR TECHNOLOGY CORP COM 698884103 $ 120 22,075 SH SOLE 22,075 PARTNER COMMUNICATIONS CO LT ADR 70211M109 $ 1,087 206,986 SH SOLE 203,376 3,610 PENDRELL CORP COM 70686R104 $ 25 22,448 SH SOLE 22,448 PEOPLES UNITED FINANCIAL INC COM 712704105 $ 4,666 384,347 SH SOLE 192,677 191,670 PEOPLES UNITED FINANCIAL INC COM 712704105 $ 502 41,310 SH DEFINED 4 41,310 PEPSICO INC COM 713448108 $237,507 3,356,035 SH SOLE 2,687,584 668,451 PEPSICO INC COM 713448108 $ 22,534 318,407 SH DEFINED 4 318,407 PETROLEO BRASILEIRO SA PETRO SP ADR NON VTG 71654V101 $279,542 10,952,050 SH SOLE 10,952,050 PETROLEO BRASILEIRO SA PETRO SP ADR NON VTG 71654V101 $ 1,691 76,610 SH OTHER 1 76,610 PETROLEO BRASILEIRO SA PETRO SP ADR NON VTG 71654V101 $ 2,652 120,170 SH OTHER 2 120,170 PETROLEO BRASILEIRO SA PETRO SP ADR NON VTG 71654V101 $ 19,416 879,743 SH OTHER 3 879,743 PETROLEO BRASILEIRO SA PETRO SP ADR NON VTG 71654V101 $ 14,071 637,559 SH DEFINED 4 637,559 PFIZER INC COM 717081103 $190,874 7,681,027 SH SOLE 6,126,317 1,554,710 PFIZER INC COM 717081103 $ 18,056 726,594 SH DEFINED 4 726,594 PNC FINL SVCS GROUP INC COM 693475105 $ 7,133 113,035 SH DEFINED 4 113,035 PNC FINL SVCS GROUP INC COM 693475105 $ 62,851 996,056 SH SOLE 811,573 184,483 PORTUGAL TELECOM SGPS S A SPONSORED ADR 737273102 $ 36,585 7,375,965 SH SOLE 3,823,383 3,552,582 POSCO SPONSORED ADR 693483109 $ 68,362 838,386 SH SOLE 578,377 260,009 PROCTER & GAMBLE CO COM 742718109 $ 9,833 141,769 SH SOLE 77,564 64,205 PROCTER & GAMBLE CO COM 742718109 $ 1,166 16,810 SH DEFINED 4 16,810 PUBLIC SVC ENTERPRISE GROUP COM 744573106 $ 8,670 269,422 SH SOLE 137,970 131,452 PUBLIC SVC ENTERPRISE GROUP COM 744573106 $ 1,045 32,470 SH DEFINED 4 32,470 PULTE GROUP INC COM 745867101 $ 3,146 202,972 SH DEFINED 4 202,972 PULTE GROUP INC COM 745867101 $ 16,872 1,088,520 SH SOLE 767,432 321,088 QUIKSILVER INC COM 74838C106 $ 800 240,965 SH DEFINED 4 240,965 QUIKSILVER INC COM 74838C106 $ 985 296,758 SH SOLE 294,123 2,635 REGIONS FINANCIAL CORP NEW COM 7591EP100 $ 3,425 475,996 SH SOLE 255,296 220,700 REGIONS FINANCIAL CORP NEW COM 7591EP100 $ 254 35,280 SH DEFINED 4 35,280 RENT A CTR INC NEW COM 76009N100 $ 254 12,160 SH SOLE 11,865 295 RESEARCH IN MOTION LTD COM 760975102 $ 541 72,100 SH DEFINED 4 72,100 SAFEWAY INC COM NEW 786514208 $143,221 8,901,257 SH SOLE 7,182,437 1,718,820 SAFEWAY INC COM NEW 786514208 $ 15,387 956,330 SH DEFINED 4 956,330 SANOFI SPONSORED ADR 80105N105 $128,440 2,982,819 SH SOLE 1,507,987 1,474,832 SEAGATE TECHNOLOGY PLC SHS G7945M107 $ 35,289 1,139,823 SH SOLE 888,555 251,268 SENECA FOODS CORP NEW CL A 817070501 $ 2,122 71,050 SH SOLE 70,070 980 SENECA FOODS CORP NEW CL A 817070501 $ 1,474 49,379 SH DEFINED 4 49,379 SHINHAN FINANCIAL GROUP CO L SPN ADR RESTRD 824596100 $ 4,429 65,964 SH SOLE 64,474 1,490 SIERRA WIRELESS INC COM 826516106 $ 6,749 867,433 SH SOLE 339,303 528,130 SIERRA WIRELESS INC COM 826516106 $ 2,650 340,651 SH DEFINED 4 340,651 SK TELECOM LTD SPONSORED ADR 78440P108 $ 3,852 264,903 SH DEFINED 4 264,903 SK TELECOM LTD SPONSORED ADR 78440P108 $ 93,566 6,435,099 SH SOLE 4,728,924 1,706,175 SONY CORP ADR NEW 835699307 $ 34,106 2,915,002 SH SOLE 1,436,404 1,478,598 ST JOE CO COM 790148100 $ 4,472 229,330 SH SOLE 202,940 26,390 ST JOE CO COM 790148100 $ 1,088 55,785 SH DEFINED 4 55,785 STANLEY BLACK & DECKER INC COM 854502101 $ 1,121 14,699 SH DEFINED 4 14,699 STANLEY BLACK & DECKER INC COM 854502101 $ 12,059 158,148 SH SOLE 106,954 51,194 STAPLES INC COM 855030102 $ 4,767 413,839 SH SOLE 214,227 199,612 STAPLES INC COM 855030102 $ 844 73,230 SH DEFINED 4 73,230 STATE STR CORP COM 857477103 $ 5,504 131,179 SH DEFINED 4 131,179 STATE STR CORP COM 857477103 $109,431 2,607,983 SH SOLE 2,129,869 478,114 STMICROELECTRONICS N V NY REGISTRY 861012102 $ 62,339 11,544,292 SH SOLE 5,645,002 5,899,290 SUMITOMO MITSUI FINL GROUP I SPONSORED ADR 86562M209 $ 61,228 9,907,395 SH SOLE 4,903,913 5,003,482 SUNTRUST BKS INC COM 867914103 $ 1,959 69,283 SH SOLE 58,006 11,277 SUPERVALU INC COM 868536103 $ 177 73,477 SH DEFINED 4 73,477 SUPERVALU INC COM 868536103 $ 8,589 3,564,064 SH SOLE 2,592,812 971,252 SYKES ENTERPRISES INC COM 871237103 $ 352 26,205 SH SOLE 24,930 1,275 SYKES ENTERPRISES INC COM 871237103 $ 227 16,860 SH DEFINED 4 16,860 SYMANTEC CORP COM 871503108 $ 915 50,880 SH DEFINED 4 50,880 SYMANTEC CORP COM 871503108 $ 7,924 440,842 SH SOLE 223,344 217,498 SYNERON MEDICAL LTD ORD SHS M87245102 $ 601 61,644 SH DEFINED 4 61,644 SYNERON MEDICAL LTD ORD SHS M87245102 $ 11,615 1,191,290 SH SOLE 915,848 275,442 TE CONNECTIVITY LTD REG SHS H84989104 $ 23,666 695,843 SH OTHER 3 695,843 TE CONNECTIVITY LTD REG SHS H84989104 $ 2,191 64,434 SH OTHER 2 64,434 TE CONNECTIVITY LTD REG SHS H84989104 $392,970 11,554,541 SH SOLE 8,175,628 3,378,913 TE CONNECTIVITY LTD REG SHS H84989104 $ 13,941 409,899 SH DEFINED 4 409,899 TECUMSEH PRODS CO CL B 878895101 $ 57 10,130 SH SOLE 9,115 1,015 TECUMSEH PRODS CO CL A 878895200 $ 291 56,150 SH DEFINED 4 56,150 TECUMSEH PRODS CO CL A 878895200 $ 431 83,217 SH SOLE 83,217 TELECOM ITALIA S P A NEW SPON ADR ORD 87927Y102 $149,162 14,856,795 SH SOLE 7,658,810 7,197,985 TELECOMMUNICATION SYS INC CL A 87929J103 $ 38 17,536 SH SOLE 17,536 TELEFONICA BRASIL SA SPONSORED ADR 87936R106 $ 79,049 3,082,690 SH SOLE 3,082,690 TELEFONICA BRASIL SA SPONSORED ADR 87936R106 $ 2,615 120,283 SH DEFINED 4 120,283 TELEFONICA BRASIL SA SPONSORED ADR 87936R106 $ 7,691 353,756 SH OTHER 3 353,756 TELEFONICA BRASIL SA SPONSORED ADR 87936R106 $ 1,207 55,530 SH OTHER 2 55,530 TELEFONICA BRASIL SA SPONSORED ADR 87936R106 $ 519 23,865 SH OTHER 1 23,865 TELEFONICA S A SPONSORED ADR 879382208 $ 37,170 2,798,965 SH SOLE 1,394,170 1,404,795 TERNIUM SA SPON ADR 880890108 $ 26,314 1,341,180 SH SOLE 1,333,860 7,320 TERNIUM SA SPON ADR 880890108 $ 2,684 136,780 SH DEFINED 4 136,780 TEXAS INSTRS INC COM 882508104 $ 840 30,500 SH DEFINED 4 30,500 TEXAS INSTRS INC COM 882508104 $ 5,698 206,789 SH SOLE 106,970 99,819 TIM PARTICIPACOES S A SPONSORED ADR 88706P205 $ 10,159 528,570 SH OTHER 3 528,570 TIM PARTICIPACOES S A SPONSORED ADR 88706P205 $227,695 11,846,752 SH SOLE 9,197,000 2,649,752 TIM PARTICIPACOES S A SPONSORED ADR 88706P205 $ 14,028 729,863 SH DEFINED 4 729,863 TIM PARTICIPACOES S A SPONSORED ADR 88706P205 $ 838 43,608 SH OTHER 2 43,608 TOYOTA MOTOR CORP SP ADR REP2COM 892331307 $121,958 1,553,403 SH SOLE 740,805 812,598 TRW AUTOMOTIVE HLDGS CORP COM 87264S106 $ 5,898 134,936 SH SOLE 73,777 61,159 TRW AUTOMOTIVE HLDGS CORP COM 87264S106 $ 820 18,750 SH DEFINED 4 18,750 TYSON FOODS INC CL A 902494103 $ 699 43,640 SH DEFINED 4 43,640 TYSON FOODS INC CL A 902494103 $ 297 18,510 SH SOLE 17,680 830 UBS AG SHS NEW H89231338 $ 35,666 2,928,275 SH SOLE 1,582,779 1,345,496 UNILEVER N V N Y SHS NEW 904784709 $117,891 3,322,738 SH SOLE 1,602,444 1,720,294 UNILEVER PLC SPON ADR NEW 904767704 $ 2,061 56,431 SH SOLE 50,539 5,892 UTSTARCOM HOLDINGS CORP USD ORD SHS G9310A106 $ 563 546,325 SH DEFINED 4 546,325 UTSTARCOM HOLDINGS CORP USD ORD SHS G9310A106 $ 996 967,456 SH SOLE 954,591 12,865 VALERO ENERGY CORP NEW COM 91913Y100 $ 78,536 2,479,051 SH SOLE 1,894,275 584,776 VALERO ENERGY CORP NEW COM 91913Y100 $ 7,417 234,116 SH DEFINED 4 234,116 VISTEON CORP COM NEW 92839U206 $ 2,364 53,173 SH SOLE 39,129 14,044 VISTEON CORP COM NEW 92839U206 $ 907 20,410 SH DEFINED 4 20,410 VODAFONE GROUP PLC NEW SPONS ADR NEW 92857W209 $ 30,090 1,055,786 SH SOLE 452,696 603,090 WAL-MART STORES INC COM 931142103 $ 824 11,170 SH DEFINED 4 11,170 WAL-MART STORES INC COM 931142103 $ 4,242 57,483 SH SOLE 32,108 25,375 WELLS FARGO & CO NEW COM 949746101 $ 17,826 516,237 SH DEFINED 4 516,237 WELLS FARGO & CO NEW COM 949746101 $184,569 5,345,187 SH SOLE 4,298,128 1,047,059 WESTERN DIGITAL CORP COM 958102105 $180,077 4,649,543 SH SOLE 3,708,876 940,667 WESTERN DIGITAL CORP COM 958102105 $ 18,253 471,298 SH DEFINED 4 471,298 WHIRLPOOL CORP COM 963320106 $ 560 6,751 SH SOLE 4,060 2,691 WILLIS GROUP HOLDINGS PUBLIC SHS G96666105 $ 9,684 262,295 SH SOLE 235,848 26,447 WINNEBAGO INDS INC COM 974637100 $ 947 74,993 SH DEFINED 4 74,993 WINNEBAGO INDS INC COM 974637100 $ 918 72,720 SH SOLE 71,780 940 XEROX CORP COM 984121103 $112,875 15,378,133 SH SOLE 12,499,155 2,878,978 XEROX CORP COM 984121103 $ 14,063 1,915,882 SH DEFINED 4 1,915,882