Brandes
Brandes Global Equity Fund
Jun 2026 → Jun 2026
Our archive holds 1 letter from this strategy, behind 3 investment theses and positions in 21 companies. Every quote below is copied verbatim from the letter it came from.
1 letter in a year — follow all of Brandes for every strategy.
What it bought and sold
With the shares reaching our revised intrinsic value estimate, we exited the position.
The investment committee initiated a new position in U.S.- based animal health care firm Zoetis.
Also held
- Erste Group Bank AG
- Citigroup Inc
- Equifax Inc
- CVS Health Corp
- ICON plc
- Amdocs Ltd
- UnitedHealth Group Inc
- EPAM Systems Inc
- Alibaba Group Holding Ltd
- Samsung Electronics Co Ltd
- Cognizant Technology Solutions Corp
- Taiwan Semiconductor Manufacturing Co Ltd
- AIA Group Ltd
- UBS Group AG
- TotalEnergies SE
- Westlake Corporation
- Shell plc
- London Stock Exchange Group plc
- Arthur J. Gallagher & Co
Its investment theses
- SAP SEJun 2026SAP SE is a mission-critical enterprise software company with deep customer relationships and AI integration potential that the fund views as a long-term opportunity.
- ZoetisJun 2026Zoetis is the global leader in animal health with strong returns on capital, secular growth tailwinds, high barriers to entry, and an attractive valuation opportunity.
- MicronJun 2026Micron is a memory semiconductor company whose thesis combined structural industry improvements, secular demand tailwinds, AI-driven memory demand, and initially attractive valuation.