The Brandes U.S. Value Equity Strategy seeks long-term capital appreciation by investing primarily in the equity securities of U.S. issuers with equity market capitalizations that exceed $5 billion at the time of purchase.
Brent Fredberg is a Director, Investments Group, a Senior Analyst and leader of the Technology Research Team. Mr. Fredberg sits on the Consumer Products Research Team, with a primary focus on household durables companies. He is a member of the Global Large-Cap Investment Committee and is a limited partner of the firm’s parent company.
Before joining Brandes, Mr. Fredberg was a Financial Analyst and Controller with Raytheon/Amana Appliances. He earned his MBA with distinction from Northwestern University’s Kellogg Graduate School of Management and his BS in finance with distinction from the University of Iowa. Mr. Fredberg is a CMA (inactive). His experience began in 1994 and he joined Brandes Investment Partners in 1999.
Ted Kim is a Director, Investments Group, an Analyst and Team Leader on the Industrials Research Team, as well as a member of the Global Large-Cap Investment Committee. He is a limited partner of the firm’s parent company. Before joining Brandes, Mr. Kim was a Product and Manufacturing Engineer with Ford Motor Company. He holds an MBA from the Kellogg Graduate School of Management at Northwestern University, an MS in system design and management from the Massachusetts Institute of Technology and a BS in mechanical engineering from the Massachusetts Institute of Technology. Mr. Kim’s relevant experience began in 2000, when he joined Brandes Investment Partners.
Ken Little oversees the firm’s research efforts and product investment committees. He is a member of the All-Cap Investment Committee and the Global Large-Cap Investment Committee, in addition to his role as leader of the Basic Materials and Utilities Research Teams. Mr. Little is a member of the firm’s Senior Management Team and ESG Oversight Committee. He is a limited partner of the firm’s parent company.
Before joining Brandes, Mr. Little was a Senior Accountant with KPMG. He holds a BS in accounting from the University of La Verne and an MBA from the Fuqua School of Business at Duke University. Mr. Little is a Certified Public Accountant (inactive). His investment experience began in 1996 when he joined Brandes Investment Partners.
Brian Matthews is a Director, Investments Group and a Senior Analyst on the Telecommunications Research Team. He is a member of the Global Large-Cap Investment Committee and a limited partner of the firm’s parent company. Mr. Matthews was previously a member of the Small-Cap Investment Committee. Before joining the firm, he worked as an Investment Banking Analyst with Merrill Lynch.
Mr. Matthews earned his BS with concentrations in finance and management (summa cum laude) from the Wharton School of the University of Pennsylvania. His relevant experience began in 2000 and he joined Brandes Investment Partners in 2002.
As of Sep 30, 2023 | Reporting Currency: USD
Data displayed as of Sep 30, 2023
| Characteristic | U.S. Value Equity | Russell 1000 Value Index |
|---|---|---|
|
Price/Book (x)
Price per share divided by book value per share.
|
1.6 | 2.3 |
|
Price/Earnings (x)
Price per share divided by earnings per share.
|
13.0 | 15.3 |
|
Price/Cash Flow (x)
Price per share divided by cash flow per share.
|
8.9 | 10.3 |
|
Dividend Yield %
Dividends per share divided by price per share.
|
2.6 | 2.4 |
|
Active Share %
A measure of the percentage of stock holdings in a manager’s portfolio that differs from the benchmark index.
|
80.9 | -- |
| Number of Holdings | 52 | -- |
| Weighted Average Mkt. Cap ($bil) | 141.8 | 127.6 |
|
Portfolio Turnover (TTM) %
(Trailing Twelve Months)
|
10.1 | -- |
| Company | % | Country | Industry |
|---|---|---|---|
| Chevron Corp | 3.8 | United States | Oil, Gas & Consumable Fuels |
| Comcast Corp | 3.2 | United States | Media |
| Halliburton Co | 3.0 | United States | Energy Equipment & Services |
| McKesson Corp | 3.0 | United States | Health Care Providers & Services |
| Merck & Co Inc | 2.7 | United States | Pharmaceuticals |
| FedEx Corp | 2.6 | United States | Air Freight & Logistics |
| Alphabet Inc | 2.6 | United States | Interactive Media & Services |
| Wells Fargo & Co | 2.6 | United States | Banks |
| Amdocs Ltd | 2.5 | United States | IT Services |
| Fiserv Inc | 2.5 | United States | Financial Services |
| % of Portfolio | 28.5 | ||
| Portfolio holdings are subject to change at any time at the discretion of the investment manager. | |||
The Brandes U.S. Value Equity Composite seeks to provide long-term capital appreciation by investing primarily in the equity securities of U.S. issuers with equity market capitalizations that exceed $5 billion at the time of purchase.
The Russell 1000 Value Index with gross dividends measures performance of the large cap segment of the U.S. equity universe. Securities are categorized as growth or value based on their relative book-to-price ratios, historical sales growth, and expected earnings growth. The benchmark returns are not covered by the report of independent verifiers.
The Russell 1000 Index with gross dividends measures the performance of the large cap segment of the U.S. equity universe.
The portfolio characteristics shown relate to a single account deemed by Brandes to be generally representative of the strategy as of date noted. Not every account will have these exact characteristics. The actual characteristics with respect to any particular account will vary based on a number of factors including but not limited to: (i) the size of t he account; (ii) investment restrictions applicable to the account, if any; and (iii) market exigencies at the time of investment. Data is updated on a quarterly basis.
The results for individual accounts and for different periods may vary. Investors should not rely on prior performance results as a reliable indication of future results. Market conditions may impact performance. The performance results presented were achieved in particular market conditions which may not be repeated. Moreover, the current market volatility and uncertain regulatory environment may have a negative impact on future performance.
Market Capitalization, Price/Book, Price/Earnings, Price/Cash Flow, and Dividend Yield for each security provided by Bloomberg, L.P. Please note that Bloomberg does not provide negative numbers in the data feed. Index fundamentals are calculated from holdings data as provided by the relevant index or by FactSet Fundamentals, excluding negative numbers for consistency. Thus, index fundamentals calculated by Brandes may differ from those computed and published by index providers.
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