13F-HR/A 1 v08967_13f-hra.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, 2004 ------------------------------ Check here if Amendment; [X] Amendment Number: 1 This Amendment (Check only one.): [X] is a restatement. [ ] adds new holding entries. Institutional Investment Manager Filing this Report: Name: Brandes Investment Partners, LP -------------------------------------------------------------- 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: Glenn R. Carlson -------------------------------------------------------------- Title: Chief Executive Officer -------------------------------------------------------------- Phone: (858) 755-0239 -------------------------------------------------------------- Signature, Place, and Date of Signing: /s/ Glenn R. Carlson San Diego, CA 11/17/04 ---------------------------- ------------------- -------------- [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: 236 ------------------------------ Form 13F Information Table Value Total: $ 39,623,433 ------------------------------ (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 HLD NV SPNOSORED ADR 000937102 514,864 22,336,851 SH SOLE 22,336,851 AMR CORP COM NEW 001765106 54,091 7,145,406 SH SOLE 7,145,406 AT&T CORP COM 001957505 101,313 7,055,251 SH SOLE 7,055,251 AEGON N V ORD AMER REG 007924103 268,155 24,377,744 SH SOLE 24,377,744 AFTERMARKET TECHNOLOGY CORP COM 008318107 8,024 608,790 SH SOLE 608,790 AGERE SYS INC CL B 00845V209 35,005 33,023,400 SH SOLE 33,023,400 AKZO NOBEL NV SPONSORED ADR 010199305 450,273 12,472,948 SH SOLE 12,472,948 ALBERTSONS INC COM 013104104 826,048 34,035,755 SH SOLE 34,035,755 ALCATEL SPONSORED ADR 013904305 542,219 44,118,749 SH SOLE 44,118,749 ALLEGHENY ENERGY INC COM 017361106 7,815 494,650 SH SOLE 494,650 ALLMERICA FINL CORP COM 019754100 18,552 666,378 SH SOLE 666,378 ALTRIA GROUP INC COM 02209S103 673,944 14,040,498 SH SOLE 14,040,498 AMERICAN ELECTRIC PWR INC COM 025537101 58,580 1,814,752 SH SOLE 1,814,752 AMERICAN GREETINGS CORP COM 026375105 114,354 4,572,313 SH SOLE 4,572,313 AMERICAN NATL INS CO COM 028591105 4,253 43,836 SH SOLE 43,836 ASHLAND INC COM 044204105 2,719 48,560 SH SOLE 48,560 AVENTIS SPONSORED ADR 053561106 2,169 25,590 SH SOLE 25,590 BCE INC COM 05534B109 4,675 211,930 SH SOLE 211,930 BISYS GROUP INC COM 055472104 9,137 613,655 SH SOLE 613,655 BT GROUP PLC ADR 05577E101 433,136 12,890,952 SH SOLE 12,890,952 BANCO BRADESCO SA SP ADR PFD NEW 059460303 5,693 104,160 SH SOLE 104,160 BANCO BILBAO VIZCAYA ARGENTARI SPONSORED ADR 05946K101 617,986 43,766,723 SH SOLE 43,766,723 BELDEN INC COM 077454106 21,138 940,721 SH SOLE 940,721 BELLSOUTH CORP COM 079860102 881,589 31,872,335 SH SOLE 31,872,335 BLAIR CORP. COM 092828102 1,902 65,777 SH SOLE 65,777 BRASIL TELECOM PARTICIPACOES SPON ADR PFD 105530109 256,156 7,683,150 SH SOLE 7,683,150 BRISTOL-MYERS SQUIBB CO COM 110122108 822,375 34,066,885 SH SOLE 34,066,885 BRITISH AMER TOB PLC SPONSORED ADR 110448107 261,491 8,982,845 SH SOLE 8,982,845 BRITISH ENERGY PLC SPONSORED ADR 110793403 4,966 267,675 SH SOLE 267,675 BUHRMANN NV SPONSORED ADR 12007Q100 32,181 4,073,593 SH SOLE 4,073,593 CAE INC COM 124765108 4,696 1,064,390 SH SOLE 1,064,390 CIT GROUP, INC. COM 125581108 413,750 11,039,213 SH SOLE 11,039,213 CNA FINL CORP COM 126117100 9,488 395,014 SH SOLE 395,014 CADBURY SCHWEPPES PLC ADR 127209302 1,974 62,880 SH SOLE 62,880 CANADIAN NAT RES LTD COM 136385101 4,238 103,200 SH SOLE 103,200 CANADIAN PAC RY LTD COM 13645T100 1,531 58,950 SH SOLE 58,950 CELESTICA INC SUB VTG SHS 15101Q108 7,749 587,610 SH SOLE 587,610 CEMEX S A SPON ADR 5 ORD 151290889 797,176 27,922,106 SH SOLE 27,922,106 CENTURYTEL INC COM 156700106 24,900 715,725 SH SOLE 715,725 CHUNGHWA TELECOM CO LTD SPONSORED ADR 17133Q205 672 37,740 SH SOLE 37,740 CINCINNATI BELL INC NEW COM 171871106 43,626 11,727,439 SH SOLE 11,727,439 COMPANHIA DE SANEAMENTO BASI SPONSORED ADR 20441A102 1,013 84,480 SH SOLE 84,480 COMPANHIA PARANAENSE ENERG SPON ADR PFD 20441B407 25,578 6,931,676 SH SOLE 6,931,676 COMPANHIA DE BEBIDAS DAS AME SPON ADR PFD 20441W203 2,912 127,740 SH SOLE 127,740 COMPANIA ANONIMA NACIONL TEL SPON ADR D 204421101 393,985 17,092,634 SH SOLE 17,092,634 CONVERGYS CORP COM 212485106 12,965 950,525 SH SOLE 950,525 CORUS GROUP PLC SPONSORED ADR 22087M101 170,737 18,048,267 SH SOLE 18,048,267 DEL MONTE FOODS CO COM 24522P103 47,189 4,537,441 SH SOLE 4,537,441 DELPHI CORP COM 247126105 30,074 3,199,313 SH SOLE 3,199,313 DELTA AIR LINES INC DEL COM 247361108 57,005 16,523,172 SH SOLE 16,523,172 DEUTSCHE TELEKOM AG SPONSORED ADR 251566105 723,025 37,520,761 SH SOLE 37,520,761 DIAGEO P L C SPON ADR NEW 25243Q205 5,865 116,209 SH SOLE 116,209 DILLARDS INC CL A 254067101 53,170 2,697,635 SH SOLE 2,697,635 DUKE ENERGY CORP COM 264399106 79,996 3,461,548 SH SOLE 3,461,548 DYNEGY INC NEW CL A 26816Q101 28,778 5,566,417 SH SOLE 5,566,417 E ON AG SPONSORED ADR 268780103 415,606 5,539,933 SH SOLE 5,539,933 EASTMAN KODAK CO. COM 277461109 2,443 74,695 SH SOLE 74,695 EL PASO CORP COM 28336L109 709,245 76,924,598 SH SOLE 76,924,598 ELECTRONIC DATA SYS CORP NEW COM 285661104 630,893 31,544,644 SH SOLE 31,544,644 ENDESA SA SPONSORED ADR 29258N107 31,920 1,648,775 SH SOLE 1,648,775 FAIRFAX FINL HLDGS LTD SUB VTG 303901102 73,660 554,876 SH SOLE 554,876 FAIRFAX FINL HLDGS LTD SUB VTG 303901102 9,181 69,290 SH SOLE 69,290 FEDERAL SIGNAL CORP COM 313855108 2,227 117,155 SH SOLE 117,155 FIRST HEALTH GROUP CORP COM 320960107 9,695 605,555 SH SOLE 605,555 FLOWSERVE CORP COM 34354P105 1,073 43,790 SH SOLE 43,790 FOMENTO ECONIMICO MEXICANO S SPON ADR UNITS 344419106 676 15,120 SH SOLE 15,120 FORD MTR CO DEL COM 345370860 665,820 46,921,759 SH SOLE 46,921,759 FRANCE TELECOM SPONSORED ADR 35177Q105 310,777 11,994,471 SH SOLE 11,994,471 FUJI PHOTO FILM LTD ADR 359586302 266,968 8,154,180 SH SOLE 8,154,180 GATEWAY INC COM 367626108 17,077 3,408,680 SH SOLE 3,408,680 GEAC COMPUTER LTD COM 368289104 6,152 935,310 SH SOLE 935,310 GENERAL MTRS CORP COM 370442105 276,339 6,405,636 SH SOLE 6,405,636 GLAXOSMITHKLINE PLC SPONSORED ADR 37733W105 780,194 17,727,659 SH SOLE 17,727,659 GOODYEAR TIRE & RUBR CO COM 382550101 357,156 32,887,307 SH SOLE 32,887,307 GREAT LAKES CHEMICAL CORP COM 390568103 126,731 4,889,308 SH SOLE 4,889,308 GRUPO FINANCIARO GALICIA S A SP ADR 10 SH B 399909100 3,066 454,163 SH SOLE 454,163 GRUPO TELEVISA SA DE CV SP ADR REP ORD 40049J206 3,024 56,508 SH SOLE 56,508 GRUPO AEROPORTUARIO DEL SURE SPON ADR SER B 40051E202 2,513 111,660 SH SOLE 111,660 HEALTH NET INC COM 42222G108 2,922 117,580 SH SOLE 117,580 HELLENIC TELECOM ORGANIZATN SA SPONSORED ADR 423325307 44,489 6,513,813 SH SOLE 6,513,813 HEWLETT PACKARD CO COM 428236103 354,781 18,555,493 SH SOLE 18,555,493 HITACHI LIMITED ADR 10 COM 433578507 657,890 10,751,600 SH SOLE 10,751,600 IKON OFFICE SOLUTIONS INC COM 451713101 23,087 1,936,803 SH SOLE 1,936,803 IMPERIAL CHEM INDS PLC ADR NEW 452704505 155,541 9,794,776 SH SOLE 9,794,776 INDUSTRIAS BACHOCO S A DE C SP ADR B&L SHS 456463108 836 72,060 SH SOLE 72,060 ING GROUP NV SPONSORED ADR 456837103 483,294 18,746,861 SH SOLE 18,746,861 INTEL CORP COM 458140100 1,105 52,991 SH SOLE 52,991 INTERSTATE BAKERIES CORP DEL COM 46072H108 14,987 3,882,763 SH SOLE 3,882,763 J P MORGAN CHASE AND CO COM 46625H100 364,448 9,034,413 SH SOLE 9,034,413 KT CORP SPONSORED ADR 48268K101 855,609 45,681,216 SH SOLE 45,681,216 K2 INC COM 482732104 9,130 621,098 SH SOLE 621,098 KANSAS CITY LIFE INS CO COM 484836101 5,619 131,460 SH SOLE 131,460 KELLY SVCS INC CL A 488152208 17,674 633,015 SH SOLE 633,015 KEMET CORP COM 488360108 33,652 4,059,369 SH SOLE 4,059,369 KINGSWAY FINL SVCS INC COM 496904103 20,481 1,552,790 SH SOLE 1,552,790 KINGSWAY FINL SVCS INC COM 496904103 7,081 537,620 SH SOLE 537,620 KIRIN BREWERY LTD SPONSORED ADR 497350306 899 100,150 SH SOLE 100,150 KONINKLIJKE AHOLD N V SPON ADR NEW 500467303 392,558 60,393,469 SH SOLE 60,393,469 KOOKMIN BK NEW SPONSORED ADR 50049M109 1,031 30,855 SH SOLE 30,855 KOOR INDS LTD SPONSORED ADR 500507108 1,962 235,020 SH SOLE 235,020 KOREA ELECTRIC PWR SPONSORED ADR 500631106 525,965 49,155,632 SH SOLE 49,155,632 KRAFT FOODS INC CL A 50075N104 58,500 1,846,016 SH SOLE 1,846,016 KROGER CO COM 501044101 762,429 48,254,975 SH SOLE 48,254,975 LAFARGE COPPEE S A SPON ADR NEW 505861401 2,287 100,440 SH SOLE 100,440 LANDAMERICA FINL GROUP INC COM 514936103 6,647 142,520 SH SOLE 142,520 LOEWS CORP COM 540424108 669,061 11,388,280 SH SOLE 11,388,280 LOEWS CORP CAROLINA GP STK 540424207 43,507 1,761,398 SH SOLE 1,761,398 LONE STAR STEAKHOUSE SALOON COM 542307103 2,619 98,960 SH SOLE 98,960 LUBRIZOL CORP COM 549271104 16,162 465,760 SH SOLE 465,760 LUCENT TECHNOLOGIES INC COM 549463107 71,134 22,510,714 SH SOLE 22,510,714 MMO2 PLC ADR 55309W101 1,233 68,215 SH SOLE 68,215 MAGYAR TAVKOZLESI RT SPONSORED ADR 559776109 30,093 1,469,403 SH SOLE 1,469,403 MAHANAGAR TEL NIGAM LTD SPONS ADR 2001 559778402 20,515 2,841,445 SH SOLE 2,841,445 MATSUSHITA ELEC ADR 576879209 401,098 29,406,033 SH SOLE 29,406,033 MATTEL INC COM 577081102 69,918 3,812,313 SH SOLE 3,812,313 MAY DEPT STORES CO COM 577778103 56,910 2,181,283 SH SOLE 2,181,283 MAYTAG CORP COM 578592107 25,675 1,381,847 SH SOLE 1,381,847 MENTOR GRAPHICS CORP COM 587200106 4,959 427,135 SH SOLE 427,135 MERCK & CO INC COM 589331107 717,673 21,545,267 SH SOLE 21,545,267 MICRON TECHNOLOGY INC COM 595112103 354,994 28,721,220 SH SOLE 28,721,220 MILLEA HOLDINGS INC ADR 60032R106 497,931 7,498,968 SH SOLE 7,498,968 MITSUBISHI TOKYO FINL GROUP SPONSORED ADR 606816106 536,532 62,532,828 SH SOLE 62,532,828 MOTOROLA INC COM 620076109 328 17,450 SH SOLE 17,450 MYERS INDS INC COM 628464109 7,331 644,215 SH SOLE 644,215 NACCO INDS INC CL A 629579103 14,438 161,495 SH SOLE 161,495 NATIONAL RV HLDGS COM 637277104 7,823 602,225 SH SOLE 602,225 NATIONAL WESTN LIFE INS CO CL A 638522102 5,050 31,428 SH SOLE 31,428 NATIONAL WESTMINSTER BK PLC ADR REP PREF B 638539700 451 17,727 SH SOLE 17,727 NATIONWIDE FINL SVCS CL A 638612101 49,245 1,371,342 SH SOLE 1,371,342 NATUZZI S P A ADR 63905A101 21,767 2,015,497 SH SOLE 2,015,497 NEWELL RUBBERMAID INC COM 651229106 36,834 1,827,082 SH SOLE 1,827,082 NIPPON TELEG & TEL CORP SPONSORED ADR 654624105 570,344 28,068,092 SH SOLE 28,068,092 NORTEL NETWORKS CORP NEW COM 656568102 2,351 673,320 SH SOLE 673,320 OCA INC COM 67083Q101 9,369 1,915,935 SH SOLE 1,915,935 OSHKOSH B GOSH INC CL A 688222207 4,861 235,411 SH SOLE 235,411 POSCO SPONSORED ADR 693483109 6,649 170,800 SH SOLE 170,800 PAYLESS SHOESOURCE INC COM 704379106 23,790 2,336,942 SH SOLE 2,336,942 PETROLEO BRASILEIRO SA PETRO SPONSORED ADR 71654V101 1,549,828 46,978,727 SH SOLE 46,978,727 PETROLEO BRASILEIRO SA PETRO SPONSORED ADR 71654V408 1,082 29,478 SH SOLE 29,478 PFIZER INC COM 717081103 93,716 3,026,039 SH SOLE 3,026,039 PHILIPPINE LONGDISTANCE TEL SPONSORED ADR 718252604 2,980 115,313 SH SOLE 115,313 PHOENIX COS INC NEW COM 71902E109 65,087 5,906,289 SH SOLE 5,906,289 PLAYTEX PRODS INC COM 72813P100 21,135 3,333,665 SH SOLE 3,333,665 POLYONE CORP COM 73179P106 19,553 2,399,122 SH SOLE 2,399,122 PORTUGAL TELECOM SGPS SA SPONSORED ADR 737273102 422,174 37,526,542 SH SOLE 37,526,542 QUEBECOR WORLD INC COM NON-VTG 748203106 30,551 1,344,663 SH SOLE 1,344,663 QUEBECOR WORLD INC COM NON-VTG 748203106 8,183 359,350 SH SOLE 359,350 QUILMES INDL QUINSA SOCIETE SP ADR CL B 74838Y207 1,037 57,839 SH SOLE 57,839 QUINENCO S A SPONSORED ADR 748718103 2,252 199,310 SH SOLE 199,310 RPM INTL INC COM 749685103 2,634 148,460 SH SOLE 148,460 REPSOL YPF S A SPONSORED ADR 76026T205 394,085 17,664,040 SH SOLE 17,664,040 REUTERS GROUP PLC SPONSORED ADR 76132M102 1,340 38,140 SH SOLE 38,140 REYNOLDS AMERICAN INC COM 761713106 77,569 1,123,043 SH SOLE 1,123,043 ROYAL GROUP TECHNOLOGIES LTD SUB VTG SH 779915107 47,516 5,250,435 SH SOLE 5,250,435 ROYAL GROUP TECHNOLOGIES LTD SUB VTG SH 779915107 12,074 1,334,832 SH SOLE 1,334,832 ROYAL & SUN ALLIANCE INS SPONSORED ADR NEW 78004V202 83,143 12,102,273 SH SOLE 12,102,273 RUSS BERRIE & CO COM 782233100 2,058 98,430 SH SOLE 98,430 RUSSELL CORP COM 782352108 3,800 222,225 SH SOLE 222,225 RYERSON TULL INC NEW COM 78375P107 8,530 494,514 SH SOLE 494,514 SBC COMMUNICATIONS INC COM 78387G103 758,290 28,810,392 SH SOLE 28,810,392 SK TELECOM LTD SPONSORED ADR 78440P108 10,168 517,441 SH SOLE 517,441 SPSS INC COM 78462K102 6,642 490,512 SH SOLE 490,512 SAFEWAY INC COM NEW 786514208 987,498 50,305,544 SH SOLE 50,305,544 SANOFI AVENTIS SPONSORED ADR 80105N105 30,661 830,699 SH SOLE 830,699 SANOFI AVENTIS SP ADR TEMP 04 80105N204 3,051 82,666 SH SOLE 82,666 SCHERING A G SPONSORED ADR 806585204 184,197 2,887,106 SH SOLE 2,887,106 SCHERING PLOUGH CORP COM 806605101 1,080,708 57,029,455 SH SOLE 57,029,455 SENSIENT TECHNOLOGIES CORP COM 81725T100 32,331 1,466,258 SH SOLE 1,466,258 SERVICE CORP INTL COM 817565104 156,595 25,176,028 SH SOLE 25,176,028 SHINHAN FINL GROUP LYD SPN ADR RESTRD 824596100 12,341 343,751 SH SOLE 343,751 SODEXHO ALLIANCE SA SPONSORED ADR 833792104 927 34,070 SH SOLE 34,070 SOLECTRON CORP COM 834182107 313 61,880 SH SOLE 61,880 SONY CORP ADR NEW 835699307 14,720 423,725 SH SOLE 423,725 SPRINT CORP COM FON GROUP 852061100 577,994 28,181,080 SH SOLE 28,181,080 STARRETT L S CO CL A 855668109 6,339 415,133 SH SOLE 415,133 STMICROELECTRONICS NV NY REGISTRY 861012102 1,079 59,805 SH SOLE 59,805 SUN MICROSYSTEMS INC COM 866810104 34,313 8,189,142 SH SOLE 8,189,142 SUPERIOR INDS INTL INC COM 868168105 17,220 571,720 SH SOLE 571,720 SWISSCOM AG SPONSORED ADR 871013108 257,620 7,318,763 SH SOLE 7,318,763 SYNOPSYS INC COM 871607107 28,039 1,693,174 SH SOLE 1,693,174 SYNGENTA AG SPONSORED ADR 87160A100 5,287 278,283 SH SOLE 278,283 TDK CORP AMERN DEP SH 872351408 140,487 2,054,807 SH SOLE 2,054,807 TECUMSEH PRODS CO CL B 878895101 22,255 529,886 SH SOLE 529,886 TELE CENTRO OESTE CELULAR SA SPON ADR PFD 87923P105 64,658 6,014,674 SH SOLE 6,014,674 TELE NORTE LESTE PART SA SPON ADR PFD 879246106 292,738 21,636,203 SH SOLE 21,636,203 TELE NORDESTE CELULAR PART S SPON ADR PFD 87924W109 17,801 653,926 SH SOLE 653,926 TELECOM ARGENTINA SA SPON ADR REP B 879273209 153,721 14,077,015 SH SOLE 14,077,015 TELECOM CORP NEW ZEALAND LTD SPONSORED ADR 879278208 275,828 8,542,208 SH SOLE 8,542,208 TELECOM ITALIA S P A NEW SPON ADR ORD 87927Y102 542,800 16,983,727 SH SOLE 16,983,727 TELECOMUNICACOES BRASILEIRAS SPONSORED ADR 879287308 386,676 13,697,327 SH SOLE 13,697,327 TELEFLEX INC COM 879369106 4,064 93,000 SH SOLE 93,000 TELEFONICA S A SPONSORED ADR 879382208 790,773 16,933,051 SH SOLE 16,933,051 TELEFONOS DE MEXICO S A SPON ADR ORD L 879403780 915,143 28,219,036 SH SOLE 28,219,036 TELELESTE CELULAR PART SA SPON ADR PRD 87943B102 3,791 246,009 SH SOLE 246,009 TELEKOM AUSTRIA AG SPONSORED ADR 87943Q109 62,088 2,209,524 SH SOLE 2,209,524 TELEMIG CELULAR PART SA SPON ADR PFD 87944E105 1,151 38,239 SH SOLE 38,239 TELESP CELULAR PART SA SPON ADR PFD 87952L108 6,296 1,004,208 SH SOLE 1,004,208 TELUS CORP NON-VOTING SHS 87971M202 5,714 286,890 SH SOLE 286,890 TENET HEALTHCARE CORP COM 88033G100 661,907 60,173,396 SH SOLE 60,173,396 TESMA INTL INC CL A SUB VTG 881908107 3,563 147,220 SH SOLE 147,220 3COM CORP COM 885535104 14,976 3,507,177 SH SOLE 3,507,177 TIDEWATER INC COM 886423102 8,711 263,570 SH SOLE 263,570 TOYS R US INC COM 892335100 513,953 29,004,121 SH SOLE 29,004,121 TRANSALTA CORP COM 89346D107 3,335 252,464 SH SOLE 252,464 TRINITY INDST INC COM 896522109 7,445 236,570 SH SOLE 236,570 TUPPERWARE CORP COM 899896104 79,186 4,413,961 SH SOLE 4,413,961 UST INC COM 902911106 202,152 4,968,099 SH SOLE 4,968,099 USEC INC COM 90333E108 17,659 1,681,813 SH SOLE 1,681,813 UNIBANCO-UNIAO DE BANCOS BRA GDR REP PFD UT 90458E107 3,183 123,361 SH SOLE 123,361 UNILEVER PLC SPON ADR NEW 904767704 6,881 207,210 SH SOLE 207,210 UNILEVER NV NY SHS NEW 904784709 792,944 13,612,769 SH SOLE 13,612,769 UNION PAC CORP COM 907818108 3,343 56,193 SH SOLE 56,193 UNISYS CORP COM 909214108 408,494 38,793,389 SH SOLE 38,793,389 UNITED MICROELECTRONICS CORP SPONSORED ADR 910873207 7,349 2,070,272 SH SOLE 2,070,272 UNUMPROVIDENT CORP COM 91529Y106 173,912 11,007,063 SH SOLE 11,007,063 VERIZON COMMUNICATIONS COM 92343V104 648,385 16,193,441 SH SOLE 16,193,441 VIDESH SANCHAR NIGAM LTD SPON ADR NEW 92659G600 55,721 7,331,709 SH SOLE 7,331,709 VISTEON CORP COM 92839U107 57,285 6,918,440 SH SOLE 6,918,440 WACOAL CORP ADR 930004205 4,055 83,371 SH SOLE 83,371 WASTE MGMT INC DEL COM 94106L109 58,617 2,117,668 SH SOLE 2,117,668 WELLMAN INC COM 949702104 18,929 2,170,789 SH SOLE 2,170,789 WESCAST INDS INC CL A SUB VTG 950813105 8,409 325,170 SH SOLE 325,170 WESCAST INDS INC CL A SUB VTG 950813105 4,972 187,040 SH SOLE 187,040 WESTAR ENERGY INC COM 95709T100 2,810 137,800 SH SOLE 137,800 WILLIAMS COS INC DEL COM 969457100 14,777 1,184,059 SH SOLE 1,184,059 WINN DIXIE STORES INC COM 974280109 43,471 12,937,870 SH SOLE 12,937,870 WYETH COM 983024100 61,915 1,645,800 SH SOLE 1,645,800 XEROX CORP COM 984121103 716,362 49,990,357 SH SOLE 49,990,357 YORK INTL CORP NEW COM 986670107 15,450 485,378 SH SOLE 485,378 DAIMLERCHRYSLER AG ORD D1668R123 431,808 10,153,026 SH SOLE 10,153,026 ASSURED GUARANTY LTD COM G0585R106 4,900 293,920 SH SOLE 293,920 HILFIGER TOMMY CORP ORD G8915Z102 36,562 3,723,206 SH SOLE 3,723,206 BANCO LATINOAMERICANO DE EXP CL E P16994132 19,164 1,248,472 SH SOLE 1,248,472 KONINKLIJKE AHOLD N V SPON ADR NEW 500467303 1,316 202,428 SH SOLE 202,428 ROYAL & SUN ALLIANCE INS SPONSORED ADR NEW 78004V202 1,273 185,260 SH SOLE 185,260 BRITISH ENERGY PLC SPONSORED ADR 110793403 735 39,637 SH SOLE 39,637