13F-HR 1 v035380_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: December 31, 2005 ------------------------------ 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 02/14/06 ---------------------- ------------------- ------------ [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: 222 ------------------------------ Form 13F Information Table Value Total: $ 47,951,243 ------------------------------ (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 710,439 26,439,841 SH Sole 26,439,841 AGCO CORP COM 001084102 4,426 259,570 SH Sole 259,570 AMR CORP COM 001765106 70,853 3,770,796 SH Sole 3,770,796 AT&T INC COM 00206R102 810,057 32,729,571 SH Sole 32,729,571 ADAPTEC INC COM 00651F108 33,632 5,758,819 SH Sole 5,758,819 ADMINISTRADORA FONDOS PENSIO SPONSORED ADR 00709P108 24,405 897,250 SH Sole 897,250 AEGON N V ORD AMER REG 007924103 304,622 19,341,065 SH Sole 19,341,065 AGERE SYS INC COM 00845V308 169,977 13,035,025 SH Sole 13,035,025 AKZO NOBEL NV SPONSORED ADR 010199305 651,076 13,911,877 SH Sole 13,911,877 ALBERTSONS INC COM 013104104 1,090,682 47,544,998 SH Sole 47,544,998 ALCATEL SPONSORED ADR 013904305 802,770 60,358,671 SH Sole 60,358,671 ALTRIA GROUP INC COM 02209S103 518,177 6,831,600 SH Sole 6,831,600 AMERICAN AXLE & MFG HLDGS IN COM 024061103 77,931 4,277,246 SH Sole 4,277,246 AMERICAN GREETINGS CORP CL A 026375105 16,297 759,763 SH Sole 759,763 AQUILA INC COM 03840P102 10,674 2,884,845 SH Sole 2,884,845 ARVINMERITOR INC COM 043353101 51,239 3,809,617 SH Sole 3,809,617 ASTRAZENECA PLC SPONSORED ADR 046353108 556 11,250 SH Sole 11,250 AVAYA INC COM 053499109 42,973 3,723,802 SH Sole 3,723,802 AVISTA CORP COM 05379B107 1,175 63,335 SH Sole 63,335 AVON PRODS INC COM 054303102 1,133 39,902 SH Sole 39,902 BCE INC COM 05534B109 5,781 241,190 SH Sole 241,190 BISYS GROUP INC COM 055472104 6,922 500,527 SH Sole 500,527 BT GROUP PLC ADR 05577E101 549,616 14,758,759 SH Sole 14,758,759 BANCO BRADESCO S A SP ADR PFD NEW 059460303 848 25,532 SH Sole 25,532 BANCO BILBAO VIZCAYA ARGENTA SPONSORED ADR 05946K101 170,777 9,276,294 SH Sole 9,276,294 BANCO SANTANDER CENT HISPANO ADR 05964H105 225,539 16,669,557 SH Sole 16,669,557 BELDEN CDT INC COM 077454106 8,948 355,785 SH Sole 355,785 BELLSOUTH CORP COM 079860102 1,170,365 43,282,711 SH Sole 43,282,711 BORLAND SOFTWARE CORP COM 099849101 11,965 1,866,680 SH Sole 1,866,680 BRASIL TELECOM PARTICIPACOES SPON ADR PFD 105530109 274,347 7,633,464 SH Sole 7,633,464 BRILLIANCE CHINA AUTO HLDG L SPONSORED ADR 10949Q105 7,098 454,390 SH Sole 454,390 BRISTOL MYERS SQUIBB CO COM 110122108 1,231,311 55,141,573 SH Sole 55,141,573 BRITISH SKY BROADCASTING GRO SPONSORED ADR 111013108 118,323 3,284,914 SH Sole 3,284,914 BUHRMANN N V SPONSORED ADR 12007Q100 922 61,453 SH Sole 61,453 CAN FINL CORP COM 126117100 4,832 147,396 SH Sole 147,396 CELESTICA INC SUB VTG SHS 15101Q108 80,313 7,450,179 SH Sole 7,450,179 CELESTICA INC SUB VTG SHS 15101Q108 10,469 971,530 SH Sole 971,530 CENTRAL VT PUB SVC CORP COM 155771108 9,656 523,945 SH Sole 523,945 CHEMTURA CORP COM 163893100 31,808 2,540,564 SH Sole 2,540,564 CHUNGHWA TELECOM CO LTD SPONSORED ADR 17133Q205 34,598 1,885,450 SH Sole 1,885,450 CIBA SPECIALTYCHEMICALS HLD SPONSORED ADR 17162W206 1,459 45,710 SH Sole 45,710 CINCINNATI BELL INC NEW COM 171871106 53,337 14,815,698 SH Sole 14,815,698 CITIGROUP INC COM 172967101 8,027 165,407 SH Sole 165,407 COACHMEN INDS INC COM 189873102 15,789 1,317,960 SH Sole 1,317,960 COMPANHIA DE SANEAMENTO BASI SPONSORED ADR 20441A102 15,118 786,602 SH Sole 786,602 COMPANIA ANONIMA NACIONL TEL SPON ADR D 204421101 254,739 17,764,260 SH Sole 17,764,260 CONVERGYS CORP COM 212485106 53,918 3,397,474 SH Sole 3,397,474 CONVERIUM HLDG AG SPONSORED ADR 21248N107 6,621 1,167,669 SH Sole 1,167,669 COOPER TIRE & RUBR CO COM 216831107 81,380 5,067,242 SH Sole 5,067,242 CORUS GROUP PLC SPONSORED ADR 22087M101 151,151 13,803,710 SH Sole 13,803,710 DANA CORP COM 235811106 58,960 10,858,104 SH Sole 10,858,104 DEL MONTE GOODS CO COM 24522P103 38,037 3,581,636 SH Sole 3,581,636 DELPHI CORP COM 247126105 10,970 32,169,282 SH Sole 32,169,282 DELTA AIR LINES INC DEL COM 247361108 4,955 6,929,586 SH Sole 6,929,586 DEUTSCHE TELEKOM AG SPONSORED ADR 251566105 792,618 48,567,278 SH Sole 48,567,278 DILLARDS INC CL A 254067101 11,014 428,909 SH Sole 428,909 DOMTAR INC COM 257561100 102,946 17,934,883 SH Sole 17,934,883 DOMTAR INC COM 257561100 12,290 2,144,130 SH Sole 2,144,130 DOREL INDS INC CL B SUB VTG 25822C205 17,591 659,580 SH Sole 659,580 DYNEGY INC NEW CL A 26816Q101 50,180 9,090,588 SH Sole 9,090,588 EDP ENERGIAS DE PORTUGAL S A SPONSORED ADR 268353109 2,758 81,785 SH Sole 81,785 ESS TECHNOLOGY INC COM 269151106 9,193 2,375,510 SH Sole 2,375,510 EASTMAN KODAK CO COM 277461109 772,070 31,194,741 SH Sole 31,194,741 EL PASO CORP COM 28336L109 548,347 41,322,281 SH Sole 41,322,281 ELECTRONIC DATA SYS NEW COM 285661104 591,062 24,105,322 SH Sole 24,105,322 EMBRATEL PARTICIPACOES S A SP ADR PFD NEW 29081N209 18,053 1,335,285 SH Sole 1,335,285 ESPEED INC CL A 296643109 467 58,565 SH Sole 58,565 FAIRFAX FINL HLDGS LTD SUB VTG 303901102 111,995 745,934 SH Sole 745,934 FAIRFAX FINL HLDGS LTD SUB VTG 303901102 10,868 72,260 SH Sole 72,260 FEDERAL SIGNAL CORP COM 313855108 4,698 296,207 SH Sole 296,207 FIFTH THIRD BANCORP COM 316773100 151,682 3,953,136 SH Sole 3,953,136 FORD MTR CO DEL COM PAR $0.01 345370860 1,192,472 143,844,663 SH Sole 143,844,663 FRANCE TELECOM SPONSORED ADR 35177Q105 325,172 14,070,637 SH Sole 14,070,637 FUJI PHOTO FILM LTD ADR 359586302 577,646 17,202,082 SH Sole 17,202,082 GANNETT INC COM 364730101 142,662 2,207,018 SH Sole 2,207,018 GATEWAY INC COM 367626108 65,625 22,865,712 SH Sole 22,865,712 GENERAL MTRS CORP COM 370442105 1,086,394 54,840,672 SH Sole 54,840,672 GLAXOSMITHKLINE PLC SPONSORED ADR 37733W105 538,008 10,528,524 SH Sole 10,528,524 GOODYEAR TIRE & RUBR CO COM 382550101 477,152 26,479,001 SH Sole 26,479,001 GRUPO FINANCIARO GALICIA S A SP ADR 10 SH B 399909100 21,535 3,080,811 SH Sole 3,080,811 GRUPO TELEVISA SA DE CV SP ADR REP ORD 40049J206 1,077 13,328 SH Sole 13,328 HANOVER INS GROUP INC COM 410867105 7,463 169,147 SH Sole 169,147 HELLENIC TELECOM ORGANIZATN SPONSORED ADR 423325307 41,122 3,652,012 SH Sole 3,652,012 HEWLETT PACKARD CO COM 428236103 306,683 9,720,553 SH Sole 9,720,553 HITACHI LIMITED ADR 10 COM 433578507 835,754 11,666,023 SH Sole 11,666,023 HUNTSMAN CORP COM 447011107 17,797 942,128 SH Sole 942,128 IKON OFFICE SOLUTIONS INC COM 451713101 95,099 8,529,085 SH Sole 8,529,085 INFINEON TECHNOLOGIES AG SPONSORED ADR 45662N103 50,203 5,180,916 SH Sole 5,180,916 INTERNATIONAL BUSINESS MACHS COM 459200101 113,165 1,363,437 SH Sole 1,363,437 JP MORGAN CHASE & CO COM 46625H100 747,956 18,844,939 SH Sole 18,844,939 JO-ANN STORES INC COM 47758P307 1,143 91,400 SH Sole 91,400 KMG AMER CORP COM 482563103 7,292 821,155 SH Sole 821,155 KT CORP SPONSORED ADR 48268K101 875,287 40,767,923 SH Sole 40,767,923 K2 INC COM 482732104 20,431 1,775,068 SH Sole 1,775,068 KANSAS CITY LIFE INS CO COM 484836101 6,638 130,956 SH Sole 130,956 KELLY SVCS INC CL A 488152208 12,685 479,204 SH Sole 479,204 KEMET CORP COM 488360108 57,460 7,692,138 SH Sole 7,692,138 KIMBALL INTL INC CL B 494274103 12,668 1,048,701 SH Sole 1,048,701 KINGSWAY FINL SVCS INC COM 496904103 11,755 560,845 SH Sole 560,845 KINGSWAY FINL SVCS INC COM 496904103 7,748 369,840 SH Sole 369,840 KNIGHT RIDDER INC COM 499040103 3,026 47,339 SH Sole 47,339 KONINKLIJKE AHOLD N V SPON ADR NEW 500467303 566,282 71,681,286 SH Sole 71,681,286 KONINKLIJKE PHILIPS ELECTRS NY REG SH NEW 500472303 320 10,240 SH Sole 10,240 KOREA ELECTRIC PWR SPONSORED ADR 500631106 763,859 36,322,366 SH Sole 36,322,366 KRAFT FOODS INC CL A 50075N104 1,001 34,771 SH Sole 34,771 KROGER CO COM 501044101 993,160 52,827,670 SH Sole 52,827,670 KYOCERA CORP ADR 501556203 99,653 1,245,510 SH Sole 1,245,510 LA Z BOY INC COM 505336107 11,340 755,515 SH Sole 755,515 LAFARGE COPPEE S A SPON ADR NEW 505861401 3,050 134,775 SH Sole 134,775 LEAR CORP COM 521865105 66,531 2,817,925 SH Sole 2,817,925 LEXMARK INTL NEW CL A 529771107 268,556 5,731,020 SH Sole 5,731,020 LILLY ELI & CO COM 532457108 1,314 22,971 SH Sole 22,971 LLOYDS TSB GROUP PLC SPONSORED ADR 539439109 3,630 100,530 SH Sole 100,530 LOEWS CORP COM 540424108 339,431 3,381,463 SH Sole 3,381,463 LUCENT TECHNOLOGIES INC COM 549463107 736,679 288,893,625 SH Sole 288,893,625 MAGNA INTL INC CL A 559222401 9,430 134,734 SH Sole 134,734 MAGYAR TELEKOM LTD SPONSORED ADR 559776109 47,157 1,933,440 SH Sole 1,933,440 MAHANAGAR TEL NIGAM LTD SPONS ADR 2001 559778402 2,029 289,787 SH Sole 289,787 MARCONI CORP PLC NEW SPONSORED ADR 56630M101 633 45,560 SH Sole 45,560 MARSH & MCLENNAN COS INC COM 571748102 11,865 372,872 SH Sole 372,872 MATSUSHITA ELEC INDL ADR 576879209 140,175 6,556,369 SH Sole 6,556,369 MATTEL INC COM 577081102 73,994 4,932,929 SH Sole 4,932,929 MAYTAG CORP COM 578592107 102,102 5,844,409 SH Sole 5,844,409 MENTOR GRAPHICS CORP COM 587200106 15,403 1,454,498 SH Sole 1,454,498 MERCK & CO INC COM 589331107 1,405,075 42,385,364 SH Sole 42,385,364 MICRON TECHNOLOGY INC COM 595112103 1,014,511 72,516,838 SH Sole 72,516,838 MILLEA HOLDINGS INC ADR 60032R106 472,405 5,408,181 SH Sole 5,408,181 MITSUBISHI UFJ FINL GROUP IN SPONSORED ADR 606822104 579,224 43,322,688 SH Sole 43,322,688 MOLSON COORS BREWING CO CL B 60871R209 20,713 312,129 SH Sole 312,129 MOLSON COORS BREWING CO CL B 60871R209 11,662 175,537 SH Sole 175,537 MYERS INDS INC COM 628464109 6,896 462,838 SH Sole 462,838 NEC CORP ADR 629050204 30,790 4,672,280 SH Sole 4,672,280 NATIONAL R V HLDGS INC COM 637277104 4,687 769,662 SH Sole 769,662 NATIONAL WESTN LIFE INS CO CL A 638522102 6,971 34,510 SH Sole 34,510 NATIONAL WESTMINSTER BK PLC ADR REP PREF B 638539700 400 15,687 SH Sole 15,687 NATIONWIDE FINL SVCS INC CL A 638612101 57,005 1,279,579 SH Sole 1,279,579 NATUZZI S P A ADR 63905A101 34,771 4,587,197 SH Sole 4,587,197 NETBANK INC COM 640933107 676 91,525 SH Sole 91,525 NEW CENTURY FINANCIAL CORP M COM 6435EV108 1,711 44,260 SH Sole 44,260 NEWELL RUBBERMAID INC COM 651229106 5,039 213,430 SH Sole 213,430 NIPPON TELEG & TEL CORP SPONSORED ADR 654624105 819,446 33,680,462 SH Sole 33,680,462 NORTEL NETWORKS CORP NEW COM 656568102 733,770 232,205,640 SH Sole 232,205,640 NORTEL NETWORKS CORP NEW COM 656568102 7,793 2,464,280 SH Sole 2,464,280 OCA INC COM 67083Q101 968 2,361,514 SH Sole 2,361,514 OCTEL CORP COM 675727101 6,243 343,417 SH Sole 343,417 PMA CAP CORP CL A 693419202 9,335 1,027,000 SH Sole 1,027,000 POSCO SPONSORED ADR 693483109 8,233 168,025 SH Sole 168,025 PARTNER COMMUNICATIONS CO LT ADR 70211M109 12,419 1,507,159 SH Sole 1,507,159 PFIZER INC COM 717081103 1,331,250 54,829,063 SH Sole 54,829,063 PHILIPPINE LONG DISTANCE TEL SPONSORED ADR 718252604 20,800 609,089 SH Sole 609,089 PHOENIX COS INC NEW COM 71902E109 73,720 4,991,216 SH Sole 4,991,216 PIER 1 IMPORTS INC COM 720279108 14,822 1,570,090 SH Sole 1,570,090 POLYONE CORP COM 73179P106 14,547 2,108,305 SH Sole 2,108,305 PORTUGAL TELECOM SGPS S A SPONSORED ADR 737273102 427,552 41,753,079 SH Sole 41,753,079 QUEBECOR WORLD INC COM NON-VTG 748203106 55,260 4,139,304 SH Sole 4,139,304 QUEBECOR WORLD INC COM NON-VTG 748203106 9,459 707,860 SH Sole 707,860 QUILMES INDL QUINSA SOCIETE SP ADR CL B 74838Y207 13,534 380,702 SH Sole 380,702 QUINENCO S A SPONSORED ADR 748718103 876 77,170 SH Sole 77,170 RENT A CTR INC NEW COM 76009N100 15,954 798,100 SH Sole 798,100 ROYAL GROUP TECHNOLOGIES LTD COM 779915107 71,649 8,023,448 SH Sole 8,023,448 ROYAL GROUP TECHNOLOGIES LTD COM 779915107 17,217 1,928,382 SH Sole 1,928,382 ROYAL & SUN ALLIANCE INS SPON ADR NEW 78004V202 121,613 11,593,231 SH Sole 11,593,231 RUSSELL CORP COM 782352108 14,390 1,070,688 SH Sole 1,070,688 SK TELECOM LTD SPONSORED ADR 78440P108 434,537 20,229,850 SH Sole 20,229,850 SAFEWAY INC COM NEW 786514208 1,472,490 60,571,378 SH Sole 60,571,378 SANMINA SCI CORP COM 800907107 89,901 19,543,660 SH Sole 19,543,660 SANOFI AVENTIS SPONSORED ADR 80105N105 374,189 8,120,430 SH Sole 8,120,430 SCHERING A G SPONSORED ADR 806585204 125,330 1,814,795 SH Sole 1,814,795 SCHERING PLOUGH CORP COM 806605101 969,175 48,628,941 SH Sole 48,628,941 SENSIENT TECHNOLOGIES CORP COM 81725T100 29,412 1,613,373 SH Sole 1,613,373 SERVICE CORP INTL COM 817565104 270 32,980 SH Sole 32,980 SHARPER IMAGE CORP COM 820013100 6,236 676,340 SH Sole 676,340 SIERRA WIRELESS INC COM 826516106 7,208 586,940 SH Sole 586,940 SOLECTRON CORP COM 834182107 107,489 29,611,319 SH Sole 29,611,319 SONY CORP ADR NEW 835699307 651,927 15,185,805 SH Sole 15,185,805 SPARTECH CORP COM NEW 847220209 13,786 582,905 SH Sole 582,905 STARRETT L S CO CL A 855668109 7,082 420,043 SH Sole 420,043 STMICROELECTRONICS NV NY REGISTRY 861012102 523,411 27,475,648 SH Sole 27,475,648 STONERIDGE INC COM 86183P102 2,017 297,489 SH Sole 297,489 SUN MICROSYSTEMS INC COM 866810104 541,649 117,494,268 SH Sole 117,494,268 SUPERIOR INDS INTL INC COM 868168105 22,472 1,058,500 SH Sole 1,058,500 SWISSCOM AG SPONSORED ADR 871013108 247,160 7,899,025 SH Sole 7,899,025 SYNOPSYS INC COM 871607107 68,107 3,206,547 SH Sole 3,206,547 TDK CORP AMERN DEP SH 872351408 8,465 120,177 SH Sole 120,177 TECUMSEH PRODS CO CL B 878895101 13,816 658,195 SH Sole 658,195 TECUMSEH PRODS CO CL A 878895200 10,895 460,280 SH Sole 460,280 TELE CENTRO OESTE CELULAR S SPON ADR PFD 87923P105 86,513 6,003,667 SH Sole 6,003,667 TELE NORTE LESTE PART S A SPON ADR PFD 879246106 393,731 22,745,879 SH Sole 22,745,879 TELECOM ARGENTINA S A SPON ADR REP B 879273209 155,224 12,309,587 SH Sole 12,309,587 TELECOM CORP NEW ZEALAND LTD SPONSORED ADR 879278208 211,538 6,577,671 SH Sole 6,577,671 TELECOMUNICACOES BRASILEIRAS SPONSORED ADR 879287308 431,132 12,547,502 SH Sole 12,547,502 TELEFONICA S A SPONSORED ADR 879382208 806,067 17,447,331 SH Sole 17,447,331 TELEFONOS DE MEXICO S A SPON ADR ORD L 879403780 1,263,610 51,957,645 SH Sole 51,957,645 TELELESTE CELULAR PART S A SPON ADR PFD 87943B102 2,872 155,982 SH Sole 155,982 TELEMIG CELULAR PART S A SPON ADR PFD 87944E105 1,605 37,363 SH Sole 37,363 TELESP CELULAR PART S A SPON ADR PFD 87952L108 62,375 12,994,708 SH Sole 12,994,708 TENET HEALTHCARE CORP COM 88033G100 513,086 66,034,223 SH Sole 66,034,223 3COM CORP COM 885535104 143,810 33,679,216 SH Sole 33,679,216 TIM PARTICIPACOES S A SPONS ADR PFD 88706P106 94,009 2,998,688 SH Sole 2,998,688 TREDEGAR CORP COM 894650100 3,572 266,990 SH Sole 266,990 TYCO INTL LTD NEW COM 902124106 5,097 194,483 SH Sole 194,483 U S XPRESS ENTERPRISES INC CL A 90338N103 6,593 379,345 SH Sole 379,345 UNILEVER PLC SPON ADR NEW 904767704 69,958 1,692,679 SH Sole 1,692,679 UNILEVER N V N Y SHS NEW 904784709 971,215 13,976,326 SH Sole 13,976,326 UNISYS CORP COM 909214108 340,791 55,144,103 SH Sole 55,144,103 UNITED MICROELECTRONICS CORP SPONSORED ADR 910873207 23,860 7,598,814 SH Sole 7,598,814 UTSTARCOM INC COM 918076100 107,577 14,062,407 SH Sole 14,062,407 VAN DER MOOLEN HLDG N.V. SPONSORED ADR 921020103 504 58,726 SH Sole 58,726 VERIZON COMMUNICATIONS COM 92343V104 728,539 23,164,993 SH Sole 23,164,993 VISTEON CORP COM 92839U107 69,961 13,853,724 SH Sole 13,853,724 W HLDG CO INC COM 929251106 29,550 3,432,093 SH Sole 3,432,093 WELLMAN INC COM 949702104 1,377 198,080 SH Sole 198,080 WYETH COM 983024100 47,173 981,131 SH Sole 981,131 XEROX CORP COM 984121103 804,331 54,828,266 SH Sole 54,828,266 DAIMLERCHRYSLER AG ORD D1668R123 683,845 12,789,322 SH Sole 12,789,322 DAIMLERCHRYSLER AG ORD D1668R123 1,289,161 24,011,328 SH Sole 24,011,328 IPC HLDGS LTD ORD G4933P101 58,492 2,133,187 SH Sole 2,133,187 MONTPELIER RE HOLDINGS LTD SHS G62185106 1,420 74,110 SH Sole 74,110 PXRE GROUP LTD COM G73018106 46,277 3,714,043 SH Sole 3,714,043 QUANTA CAPITAL HLDGS LTD SHS G7313F106 21,581 4,190,390 SH Sole 4,190,390 HILFIGER TOMMY CORP ORD G8915Z102 35,191 2,185,771 SH Sole 2,185,771 BANCO LATINOAMERICCANO DE EXP CL E P16994132 32,659 1,853,492 SH Sole 1,853,492