Dundas Partners LLP
In its 13F for Q2 2024 (holdings as of June 30, 2024, filed August 14, 2024), Dundas Partners LLP reported 50 stock positions worth $1.3 billion. Its top holding was Microsoft (MSFT) at 6.3% of the portfolio, followed by WW Grainger (GWW, 5.2%) and Applied Industrial Tech (AIT, 4.4%). Compared with Q1 2024, it opened 6 new positions, sold out of 2, added to 34 and reduced 8. The biggest buy was a new position in Applied Industrial Tech (AIT) and the biggest sale Applied Materials (AMAT, shares −99%).
- Most Recent 13F
- Q2 2026
- Location
- EDINBURGH, X0
- CIK
- 0001742418
- Portfolio Value
- $1.3B (Q2 2024)
- SEC Filing
- 0001742418-24-000004 ↗ filed Aug 14, 2024
Holdings Value
Holdings 50 stocks · $1.3B
| MSFT Microsoft Corp. | 6.25% | 180,361 | $80.6M | Add +1.4% |
| GWW WW Grainger Inc. filed as GRAINGER W W INC | 5.16% | 73,650 | $66.5M | Add +1.3% |
| AIT Applied Industrial Tech Inc. | 4.42% | 241,264 | $56.9M | New |
| WRB WR Berkley Corp. filed as BERKLEY W R CORP | 4.16% | 682,544 | $53.6M | Add +11.6% |
| TSM Taiwan Semiconductor-SP ADR | 4.09% | 303,564 | $52.8M | Add +0.8% |
| ADI Analog Devices Inc. | 3.51% | 197,970 | $45.2M | Add +0.9% |
| GOOG Alphabet Inc. Class C | 3.42% | 240,573 | $44.1M | Reduce -13.4% |
| BRO Brown & Brown Inc. | 3.32% | 479,205 | $42.8M | Add +0.9% |
| APH Amphenol Corp. Class A | 3.23% | 617,382 | $41.6M | Reduce -22.3% |
| ROST Ross Stores Inc. | 3.09% | 274,017 | $39.8M | Reduce -8.3% |
| MRSH Marsh & McLennan Cos | 3.06% | 187,494 | $39.5M | Add +4.8% |
| TMO Thermo Fisher Scientific Inc. | 3.01% | 70,238 | $38.8M | Add +0.9% |
| AXP American Express Co. | 3.01% | 167,619 | $38.8M | Add +1.0% |
| V Visa Inc. Class A | 3.01% | 147,604 | $38.7M | Add +3.4% |
| ACN Accenture PLC Class A | 2.98% | 126,597 | $38.4M | Add +2.5% |
| ALC Alcon Inc. filed as ALCON AG | 2.95% | 425,938 | $38.0M | Add +0.8% |
| HD Home Depot Inc. | 2.70% | 101,274 | $34.9M | Add +1.7% |
| ABT Abbott Laboratories | 2.66% | 330,227 | $34.3M | Add +2.1% |
| EFX Equifax Inc. | 2.49% | 132,615 | $32.2M | Add +0.9% |
| SYK Stryker Corp. | 2.39% | 90,522 | $30.8M | Add +1.0% |
| FDS Factset Research Systems Inc. | 2.36% | 74,556 | $30.4M | Add +0.9% |
| NDAQ Nasdaq Inc. | 2.34% | 500,759 | $30.2M | Add +1.0% |
| NDSN Nordson Corp. | 2.15% | 119,311 | $27.7M | Add +1.0% |
| ADP Automatic Data Processing | 2.08% | 112,482 | $26.8M | Add +2.5% |
| HDB HDFC Bank Ltd.-ADR | 2.03% | 406,972 | $26.2M | Add +18.8% |
| AAPL Apple Inc. | 2.00% | 122,222 | $25.7M | Reduce -14.8% |
| RMD Resmed Inc. | 1.97% | 132,687 | $25.4M | Add +21.9% |
| DIS The Walt Disney Co. filed as DISNEY WALT CO | 1.95% | 252,703 | $25.1M | Add +1.0% |
| ZTS Zoetis Inc. | 1.90% | 140,982 | $24.4M | Add +8.9% |
| COST Costco Wholesale Corp. | 1.87% | 28,400 | $24.1M | No change |
| BKNG Booking Holdings Inc. | 1.82% | 5,938 | $23.5M | New |
| AME Ametek Inc. | 1.73% | 133,770 | $22.3M | Add +23.2% |
| EBAY eBay Inc. | 1.63% | 390,411 | $21.0M | Reduce -25.4% |
| MA Mastercard Inc. Class A | 1.52% | 44,459 | $19.6M | New |
| KEYS Keysight Technologies Inc. | 1.38% | 130,268 | $17.8M | Reduce -9.2% |
| PYPL PayPal Holdings Inc. | 1.23% | 272,514 | $15.8M | No change |
| RBA RB Global Inc. | 0.67% | 113,038 | $8.6M | Add +1.4% |
| GGG Graco Inc. | 0.05% | 7,645 | $606K | Add +66.3% |
| RYAN Ryan Specialty Holdings Inc. | 0.05% | 10,197 | $591K | New |
| MKTX Marketaxess Holdings Inc. | 0.04% | 2,594 | $520K | New |
| TRU Transunion | 0.04% | 6,865 | $509K | Add +95.6% |
| WTS Watts Water Technologies-A | 0.04% | 2,728 | $500K | Add +65.9% |
| LFUS Littelfuse Inc. | 0.04% | 1,897 | $485K | Reduce -98.3% |
| AMAT Applied Materials Inc. | 0.03% | 2,148 | $417K | Reduce -99.1% |
| SIGI Selective Insurance Group | 0.03% | 4,379 | $411K | Add +69.3% |
| ESAB Esab Corp. | 0.03% | 4,281 | $404K | New |
| POWI Power Integrations Inc. | 0.03% | 5,678 | $399K | Add +88.3% |
| MORN Morningstar Inc. | 0.03% | 1,114 | $330K | Add +52.8% |
| MKSI MKS Inc. filed as MKS INSTRS INC | 0.03% | 2,470 | $323K | Add +50.4% |
| BMI Badger Meter Inc. | 0.02% | 1,722 | $321K | Add +50.3% |
Portfolio Sells Q1 2024 → Q2 2024
| AMAT Applied Materials Inc. | Reduce -99.1% | 0.03% | −3.82 |
| LFUS Littelfuse Inc. | Reduce -98.3% | 0.04% | −2.11 |
| EBAY eBay Inc. | Reduce -25.4% | 1.63% | −0.55 |
| KEYS Keysight Technologies Inc. | Reduce -9.2% | 1.38% | −0.39 |
| APH Amphenol Corp. Class A | Reduce -22.3% | 3.23% | −0.38 |
| ROST Ross Stores Inc. | Reduce -8.3% | 3.09% | −0.37 |
| JBTM JBT Marel Corp. | Sold out | 0.00% | −0.02 |
| NSP Insperity Inc. | Sold out | 0.00% | −0.02 |
| AAPL Apple Inc. | Reduce -14.8% | 2.00% | +0.06 |
| GOOG Alphabet Inc. Class C | Reduce -13.4% | 3.42% | +0.09 |
Portfolio Buys Q1 2024 → Q2 2024
| AIT Applied Industrial Tech Inc. | New | 4.42% | +4.42 |
| BKNG Booking Holdings Inc. | New | 1.82% | +1.82 |
| MA Mastercard Inc. Class A | New | 1.52% | +1.52 |
| TSM Taiwan Semiconductor-SP ADR | Add +0.8% | 4.09% | +0.87 |
| HDB HDFC Bank Ltd.-ADR | Add +18.8% | 2.03% | +0.52 |
| ADI Analog Devices Inc. | Add +0.9% | 3.51% | +0.45 |
| MSFT Microsoft Corp. | Add +1.4% | 6.25% | +0.36 |
| RMD Resmed Inc. | Add +21.9% | 1.97% | +0.27 |
| ALC Alcon Inc. | Add +0.8% | 2.95% | +0.19 |
| ZTS Zoetis Inc. | Add +8.9% | 1.90% | +0.17 |
| AME Ametek Inc. | Add +23.2% | 1.73% | +0.17 |
| MRSH Marsh & McLennan Cos | Add +4.8% | 3.06% | +0.16 |
| BRO Brown & Brown Inc. | Add +0.9% | 3.32% | +0.05 |
| RYAN Ryan Specialty Holdings Inc. | New | 0.05% | +0.05 |
| MKTX Marketaxess Holdings Inc. | New | 0.04% | +0.04 |
| AXP American Express Co. | Add +1.0% | 3.01% | +0.04 |
| ESAB Esab Corp. | New | 0.03% | +0.03 |
| TRU Transunion | Add +95.6% | 0.04% | +0.02 |
| POWI Power Integrations Inc. | Add +88.3% | 0.03% | +0.01 |
| GGG Graco Inc. | Add +66.3% | 0.05% | +0.01 |
| WTS Watts Water Technologies-A | Add +65.9% | 0.04% | +0.01 |
| BMI Badger Meter Inc. | Add +50.3% | 0.02% | +0.01 |
| SIGI Selective Insurance Group | Add +69.3% | 0.03% | +0.01 |
| MKSI MKS Inc. | Add +50.4% | 0.03% | +0.01 |
| MORN Morningstar Inc. | Add +52.8% | 0.03% | +0.01 |
| RBA RB Global Inc. | Add +1.4% | 0.67% | +0.00 |
| ADP Automatic Data Processing | Add +2.5% | 2.08% | −0.07 |
| WRB WR Berkley Corp. | Add +11.6% | 4.16% | −0.10 |
| NDAQ Nasdaq Inc. | Add +1.0% | 2.34% | −0.12 |
| V Visa Inc. Class A | Add +3.4% | 3.01% | −0.13 |
| SYK Stryker Corp. | Add +1.0% | 2.39% | −0.14 |
| TMO Thermo Fisher Scientific Inc. | Add +0.9% | 3.01% | −0.17 |
| ABT Abbott Laboratories | Add +2.1% | 2.66% | −0.23 |
| EFX Equifax Inc. | Add +0.9% | 2.49% | −0.27 |
| FDS Factset Research Systems Inc. | Add +0.9% | 2.36% | −0.28 |
| HD Home Depot Inc. | Add +1.7% | 2.70% | −0.30 |
| ACN Accenture PLC Class A | Add +2.5% | 2.98% | −0.39 |
| NDSN Nordson Corp. | Add +1.0% | 2.15% | −0.41 |
| DIS The Walt Disney Co. | Add +1.0% | 1.95% | −0.46 |
| GWW WW Grainger Inc. | Add +1.3% | 5.16% | −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 |