# Brandes Investment Partners, LP

> Brandes Investment Partners, LP is an SEC-registered investment advisory firm in La Jolla, CA, registered since 1985, reporting over $5 billion in regulatory assets under management in its Form ADV filing dated April 10, 2026.

- CRD: 105404
- Filed as: BRANDES INVESTMENT PARTNERS, LP
- Registration: SEC-registered investment adviser (status as filed: Approved)
- Location: La Jolla, CA
- Filing period: October 2026
- Form ADV filing dated: April 10, 2026
- SEC record (IAPD): https://adviserinfo.sec.gov/firm/summary/105404
- AdvisorCensus page: https://advisorcensus.com/firm/brandes-investment-partners-lp-la-jolla-ca-105404

## Quick answers

**How is Brandes Investment Partners, LP compensated?**
On its Form ADV (Item 5.E, October 2026), Brandes Investment Partners, LP reports these compensation arrangements: a percentage of assets under its management; fixed fees (other than subscription fees); performance-based fees.

**Where is Brandes Investment Partners, LP located?**
Brandes Investment Partners, LP's principal office is in La Jolla, CA, according to its Form ADV; the May 2026 filing also lists 1 other office (Schedule D, Section 1.F).

**Is Brandes Investment Partners, LP registered with the SEC or a state?**
Brandes Investment Partners, LP is an SEC-registered investment advisory firm, registered since 1985. Status as filed: Approved. CRD 105404.

**How much does Brandes Investment Partners, LP manage?**
Brandes Investment Partners, LP reports $40,646,678,109 in regulatory assets under management in its Form ADV filing dated April 10, 2026 (98% discretionary).

**How have Brandes Investment Partners, LP's assets and staff changed since 2021?**
In the Form ADV data for Brandes Investment Partners, LP: Regulatory assets under management: $18,549,032,526 in the October 2021 data and $40,646,678,109 in the October 2026 data, up 119%. Total employees: 150 in October 2021 and 149 in October 2026. Assets under management move with markets as well as with clients coming and going.

**What types of clients does Brandes Investment Partners, LP serve?**
By number of clients on Form ADV Item 5.D: individuals (other than high net worth individuals) (9,723); corporations or other businesses not listed above (1,951); high net worth individuals (1,444).

**Which custodians does Brandes Investment Partners, LP use?**
Brandes Investment Partners, LP's most recent Form ADV filing (Schedule D, Section 5.K(3)) lists JP Morgan Chase & Co., State Street Bank and Trust Company and The Northern Trust Company as custodians holding 10% or more of its separately managed account assets.

**Does Brandes Investment Partners, LP report any disciplinary disclosures?**
Reports no disclosure items on Form ADV Item 11. The detail of any item is on the firm's SEC record: https://adviserinfo.sec.gov/firm/summary/105404

**What changed in Brandes Investment Partners, LP's recent Form ADV filings?**
In the April 2026 filing data: Employees performing advisory functions went from 34 to 35. Regulatory assets under management went from $26,686,881,169 to $40,646,678,109 (+52%).

## From the Form ADV filing

### Compensation (Item 5.E)
- A percentage of assets under your management
- Fixed fees (other than subscription fees)
- Performance-based fees

### Custodians (Schedule D, Section 5.K(3))
- JP Morgan Chase & Co.
- State Street Bank and Trust Company
- The Northern Trust Company

Custodians holding 10% or more of the firm's separately managed account assets, as filed on Form ADV (Schedule D, Section 5.K(3)). A custodian holds client assets; it does not endorse or supervise the firm. AdvisorCensus has no relationship with any custodian.

### Regulatory assets under management (Item 5.F)
- Total: $40,646,678,109
- Discretionary: $39,733,431,854
- Non-discretionary: $913,246,255

### Clients (Item 5.D)

| Client type | Clients | Assets |
| --- | --- | --- |
| Individuals (other than high net worth individuals) | 9,723 | $1,620,826,518 |
| High net worth individuals | 1,444 | $1,825,320,860 |
| Banking or thrift institutions | Fewer than 5 | Not reported |
| Investment companies | 10 | $5,929,506,187 |
| Business development companies | 0 | Not reported |
| Pooled investment vehicles (other than investment companies and business development companies) | 27 | $3,695,432,952 |
| Pension and profit sharing plans (but not the plan participants or government pension plans) | 209 | $641,557,321 |
| Charitable organizations | 112 | $164,579,135 |
| State or municipal government entities (including government pension plans) | 24 | $14,993,910,601 |
| Other investment advisers | 3 | $9,677,111,042 |
| Insurance companies | Fewer than 5 | Not reported |
| Sovereign wealth funds and foreign official institutions | Fewer than 5 | Not reported |
| Corporations or other businesses not listed above | 1,951 | $2,065,386,026 |
| Other | 1 | $33,047,467 |

### Advisory services (Item 5.G)
- Portfolio management for individuals and/or small businesses
- Portfolio management for investment companies (and business development companies)
- Portfolio management for pooled investment vehicles (other than investment companies)
- Portfolio management for businesses (other than small businesses) or institutional clients

### Firm details
- Registered since: 1985 (41 years)
- Employees: 149 total, 35 performing advisory functions
- Wrap fee program participation: Yes
- States registered or notice-filed: AK, AL, AR, AZ, CA, CO, CT, DC, DE, FL, GA, HI, IA, ID, IL, IN, KS, KY, LA, MA, MD, ME, MI, MN, MO, MS, MT, NC, ND, NE, NH, NJ, NM, NV, NY, OH, OK, OR, PA, PR, RI, SC, SD, TN, TX, UT, VA, VI, VT, WA, WI, WV, WY
- Disclosures (Item 11): Reports no disclosure items on Form ADV Item 11.

### Other offices (Schedule D, Section 1.F), as of the May 2026 filing
- Brookfield, WI

### Websites listed on Form ADV (Item 1.I)
- brandes.com
- Facebook @BRANDESGLOBAL
- Instagram @brandes_investment_partners
- LinkedIn @brandes-investment-partners
- X @BRANDESGLOBAL
- X @BRANDESINSIGHTS
- YouTube @UCxCRnbPNwsoAFmbMyoxEMYw
- YouTube @UCxSFwRpCvcwqerUyWVbBqwA

## Assets and staff over time

| Data period | Regulatory assets under management | Employees | Filing dated |
| --- | --- | --- | --- |
| October 2021 | $18,549,032,526 | 150 | September 30, 2021 |
| October 2022 | $20,199,234,840 | 141 | March 29, 2022 |
| October 2023 | $17,530,381,334 | 144 | March 30, 2023 |
| October 2024 | $22,214,086,907 | 141 | May 23, 2024 |
| October 2025 | $26,686,881,169 | 143 | March 28, 2025 |
| October 2026 | $40,646,678,109 | 149 | April 10, 2026 |

Regulatory assets under management: $18,549,032,526 in the October 2021 data and $40,646,678,109 in the October 2026 data, up 119%.
Total employees: 150 in October 2021 and 149 in October 2026.

## Changes in the filing (last 12 months)

### April 2026
- Employees performing advisory functions went from 34 to 35.
- Regulatory assets under management went from $26,686,881,169 to $40,646,678,109 (+52%).

## Source

Form ADV as filed, October 2026. Values appear as filed. Cite as: AdvisorCensus. Brandes Investment Partners, LP (CRD 105404): Form ADV filing data as of October 2026.