Dundas Partners LLP
In its 13F for Q2 2026 (holdings as of June 30, 2026, filed August 14, 2026), Dundas Partners LLP reported 31 stock positions worth $1.4 billion. Its top holding was Applied Materials (AMAT) at 13.2% of the portfolio, followed by Taiwan Semiconductor-SP ADR (TSM, 9.2%) and Alphabet Class C (GOOG, 7.2%). Compared with Q1 2026, it opened 3 new positions, sold out of 21, added to 5 and reduced 12. The biggest buy was a new position in Vanguard ESG US Stock ETF (ESGV) and the biggest sale Zoetis (ZTS, shares −45%).
- Most Recent 13F
- Q2 2026
- Location
- EDINBURGH, X0
- CIK
- 0001742418
- Portfolio Value
- $1.4B (Q2 2026)
- SEC Filing
- 0001742418-26-000005 ↗ filed Aug 14, 2026
Holdings Value
Holdings 31 stocks · $1.4B
| AMAT Applied Materials Inc. | 13.21% | 252,561 | $182.6M | Reduce -4.0% |
| TSM Taiwan Semiconductor-SP ADR | 9.17% | 265,365 | $126.7M | Reduce -3.6% |
| GOOG Alphabet Inc. Class C | 7.22% | 282,696 | $99.9M | Reduce -2.5% |
| APH Amphenol Corp. Class A | 6.30% | 494,362 | $87.2M | Reduce -6.3% |
| ADI Analog Devices Inc. | 5.51% | 191,739 | $76.2M | Reduce -3.5% |
| V Visa Inc. Class A | 5.05% | 203,458 | $69.8M | Add +4.9% |
| MSFT Microsoft Corp. | 4.60% | 170,547 | $63.6M | Reduce -5.0% |
| AXP American Express Co. | 4.19% | 171,110 | $57.9M | Reduce -2.9% |
| ROST Ross Stores Inc. | 3.68% | 238,768 | $50.8M | No change |
| TMO Thermo Fisher Scientific Inc. | 3.53% | 97,396 | $48.8M | No change |
| BKNG Booking Holdings Inc. | 3.14% | 243,241 | $43.4M | Add +6.9% |
| NDAQ Nasdaq Inc. | 2.92% | 512,023 | $40.4M | No change |
| AME Ametek Inc. | 2.87% | 163,876 | $39.6M | No change |
| RMD Resmed Inc. | 2.86% | 203,021 | $39.6M | No change |
| BRO Brown & Brown Inc. | 2.83% | 610,267 | $39.1M | Reduce -7.5% |
| ABT Abbott Laboratories | 2.78% | 423,933 | $38.5M | No change |
| MA Mastercard Inc. Class A | 2.44% | 65,751 | $33.8M | Add +17.2% |
| ADP Automatic Data Processing | 2.29% | 141,280 | $31.6M | No change |
| SYK Stryker Corp. | 2.16% | 95,028 | $29.9M | No change |
| WRB WR Berkley Corp. filed as BERKLEY W R CORP | 1.99% | 390,567 | $27.5M | No change |
| GWW WW Grainger Inc. | 1.96% | 19,901 | $27.1M | No change |
| ESGV Vanguard ESG US Stock ETF | 1.58% | 164,888 | $21.8M | New |
| HDB HDFC Bank Ltd.-ADR | 1.57% | 842,852 | $21.8M | Reduce -2.4% |
| CRM Salesforce Inc. | 1.36% | 119,681 | $18.7M | Add +13.6% |
| ALC Alcon Inc. filed as ALCON AG | 1.22% | 249,707 | $16.9M | No change |
| INTU Intuit Inc. | 0.99% | 52,445 | $13.7M | Add +9.1% |
| ZTS Zoetis Inc. | 0.85% | 163,462 | $11.7M | Reduce -45.4% |
| EFX Equifax Inc. | 0.78% | 67,627 | $10.7M | Reduce -46.7% |
| RBA RB Global Inc. | 0.69% | 81,664 | $9.5M | Reduce -15.3% |
| VSGX Vanguard ESG Intl Stock ETF | 0.18% | 29,645 | $2.4M | New |
| EWBC East West Bancorp Inc. | 0.10% | 10,672 | $1.4M | New |
Portfolio Sells Q1 2026 → Q2 2026
| ZTS Zoetis Inc. | Reduce -45.4% | 0.85% | −1.97 |
| ACN Accenture PLC Class A | Sold out | 0.00% | −1.81 |
| MSCI MSCI Inc. | Sold out | 0.00% | −1.56 |
| EFX Equifax Inc. | Reduce -46.7% | 0.78% | −1.05 |
| MSFT Microsoft Corp. | Reduce -5.0% | 4.60% | −0.70 |
| BRO Brown & Brown Inc. | Reduce -7.5% | 2.83% | −0.60 |
| HDB HDFC Bank Ltd.-ADR | Reduce -2.4% | 1.57% | −0.14 |
| AXP American Express Co. | Reduce -2.9% | 4.19% | −0.06 |
| RBA RB Global Inc. | Reduce -15.3% | 0.69% | −0.05 |
| NVT Nvent Electric PLC | Sold out | 0.00% | −0.04 |
| JKHY Jack Henry & Associates Inc. | Sold out | 0.00% | −0.04 |
| AIT Applied Industrial Tech Inc. | Sold out | 0.00% | −0.04 |
| LFUS Littelfuse Inc. | Sold out | 0.00% | −0.04 |
| TECH Bio-Techne Corp. | Sold out | 0.00% | −0.03 |
| CR Crane Co. | Sold out | 0.00% | −0.03 |
| SF Stifel Financial Corp. | Sold out | 0.00% | −0.03 |
| WTS Watts Water Technologies-A | Sold out | 0.00% | −0.03 |
| ESAB Esab Corp. | Sold out | 0.00% | −0.03 |
| EVR Evercore Inc. Class A | Sold out | 0.00% | −0.02 |
| MKTX Marketaxess Holdings Inc. | Sold out | 0.00% | −0.02 |
| HLNE Hamilton Lane Inc. Class A | Sold out | 0.00% | −0.02 |
| LMAT Lemaitre Vascular Inc. | Sold out | 0.00% | −0.02 |
| TRU Transunion | Sold out | 0.00% | −0.01 |
| INTERDIGITAL INC (IDCC 3.5 06/01/27) | Sold out | 0.00% | −0.01 |
| RYAN Ryan Specialty Holdings Inc. | Sold out | 0.00% | −0.01 |
| RLI Rli Corp. | Sold out | 0.00% | −0.01 |
| BMI Badger Meter Inc. | Sold out | 0.00% | −0.01 |
| PAYC Paycom Software Inc. | Sold out | 0.00% | −0.01 |
| ADI Analog Devices Inc. | Reduce -3.5% | 5.51% | +0.47 |
| GOOG Alphabet Inc. Class C | Reduce -2.5% | 7.22% | +0.59 |
| APH Amphenol Corp. Class A | Reduce -6.3% | 6.30% | +0.99 |
| TSM Taiwan Semiconductor-SP ADR | Reduce -3.6% | 9.17% | +1.75 |
| AMAT Applied Materials Inc. | Reduce -4.0% | 13.21% | +6.04 |
Portfolio Buys Q1 2026 → Q2 2026
| ESGV Vanguard ESG US Stock ETF | New | 1.58% | +1.58 |
| V Visa Inc. Class A | Add +4.9% | 5.05% | +0.37 |
| MA Mastercard Inc. Class A | Add +17.2% | 2.44% | +0.21 |
| VSGX Vanguard ESG Intl Stock ETF | New | 0.18% | +0.18 |
| EWBC East West Bancorp Inc. | New | 0.10% | +0.10 |
| BKNG Booking Holdings Inc. | Add +6.9% | 3.14% | +0.08 |
| CRM Salesforce Inc. | Add +13.6% | 1.36% | −0.21 |
| INTU Intuit Inc. | Add +9.1% | 0.99% | −0.67 |
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 31 | $1.4B | AMAT, TSM, GOOG, APH, ADI |
| Q1 2026 | 49 | $1.3B | TSM, AMAT, GOOG, APH, MSFT |
| Q4 2025 | 49 | $1.4B | GOOG, MSFT, TSM, WRB, APH |
| Q3 2025 | 50 | $1.4B | MSFT, WRB, TSM, APH, GOOG |
| Q2 2025 | 50 | $1.4B | MSFT, WRB, GWW, TSM, V |
| Q1 2025 | 49 | $1.4B | WRB, GWW, MSFT, BRO, V |
| Q4 2024 | 50 | $1.4B | MSFT, GWW, WRB, VSGX, GOOG |
| Q3 2024 | 51 | $1.4B | MSFT, GWW, WRB, AMAT, TSM |
| Q2 2024 | 50 | $1.3B | MSFT, GWW, AIT, WRB, TSM |
| Q1 2024 | 46 | $1.3B | MSFT, GWW, WRB, AMAT, APH |