Dundas Partners LLP
In its 13F for Q1 2026 (holdings as of March 31, 2026, filed May 14, 2026), Dundas Partners LLP reported 49 stock positions worth $1.3 billion. Its top holding was Taiwan Semiconductor-SP ADR (TSM) at 7.4% of the portfolio, followed by Applied Materials (AMAT, 7.2%) and Alphabet Class C (GOOG, 6.6%). Compared with Q4 2025, it added to 4 and reduced 45. The biggest buy was Visa Class A (V, shares +9%) and the biggest sale WR Berkley (WRB, shares −66%).
- Most Recent 13F
- Q2 2026
- Location
- EDINBURGH, X0
- CIK
- 0001742418
- Portfolio Value
- $1.3B (Q1 2026)
- SEC Filing
- 0001742418-26-000003 ↗ filed May 14, 2026
Holdings Value
Holdings 49 stocks · $1.3B
| TSM Taiwan Semiconductor-SP ADR | 7.42% | 275,192 | $93.0M | Reduce -2.5% |
| AMAT Applied Materials Inc. | 7.17% | 262,946 | $89.9M | Reduce -4.1% |
| GOOG Alphabet Inc. Class C | 6.63% | 289,903 | $83.2M | Reduce -1.8% |
| APH Amphenol Corp. Class A | 5.32% | 527,892 | $66.7M | Reduce -0.9% |
| MSFT Microsoft Corp. | 5.30% | 179,471 | $66.4M | Reduce -1.6% |
| ADI Analog Devices Inc. | 5.04% | 198,650 | $63.2M | Reduce -1.6% |
| V Visa Inc. Class A | 4.68% | 193,997 | $58.6M | Add +8.5% |
| AXP American Express Co. | 4.25% | 176,217 | $53.3M | Reduce -0.8% |
| ROST Ross Stores Inc. | 4.12% | 238,768 | $51.7M | Reduce -2.6% |
| TMO Thermo Fisher Scientific Inc. | 3.82% | 97,396 | $47.9M | Reduce -1.0% |
| RMD Resmed Inc. | 3.63% | 203,021 | $45.6M | Reduce -0.9% |
| ABT Abbott Laboratories | 3.47% | 423,933 | $43.5M | Reduce -1.0% |
| NDAQ Nasdaq Inc. | 3.47% | 512,023 | $43.5M | Reduce -1.9% |
| BRO Brown & Brown Inc. | 3.43% | 659,990 | $43.0M | Reduce -1.0% |
| BKNG Booking Holdings Inc. | 3.06% | 9,105 | $38.3M | Add +9.6% |
| ZTS Zoetis Inc. | 2.82% | 299,266 | $35.4M | Reduce -2.0% |
| AME Ametek Inc. | 2.80% | 163,876 | $35.1M | Reduce -3.7% |
| SYK Stryker Corp. | 2.49% | 95,028 | $31.2M | Reduce -2.0% |
| ADP Automatic Data Processing | 2.29% | 141,280 | $28.7M | Reduce -0.9% |
| MA Mastercard Inc. Class A | 2.24% | 56,106 | $28.0M | Reduce -0.9% |
| WRB WR Berkley Corp. filed as BERKLEY W R CORP | 2.06% | 390,567 | $25.9M | Reduce -66.4% |
| EFX Equifax Inc. | 1.82% | 126,939 | $22.9M | Reduce -0.9% |
| ACN Accenture PLC Class A | 1.81% | 114,450 | $22.7M | Add +31.3% |
| GWW WW Grainger Inc. | 1.73% | 19,901 | $21.7M | Reduce -0.9% |
| HDB HDFC Bank Ltd.-ADR | 1.71% | 863,541 | $21.5M | Reduce -2.3% |
| INTU Intuit Inc. | 1.66% | 48,074 | $20.8M | Reduce -1.0% |
| CRM Salesforce Inc. | 1.57% | 105,346 | $19.7M | Add +25.8% |
| MSCI MSCI Inc. | 1.56% | 36,194 | $19.5M | Reduce -2.8% |
| ALC Alcon Inc. filed as ALCON AG | 1.48% | 249,707 | $18.5M | Reduce -1.1% |
| RBA RB Global Inc. | 0.74% | 96,452 | $9.2M | Reduce -0.9% |
| NVT Nvent Electric PLC | 0.04% | 4,769 | $564K | Reduce -22.5% |
| JKHY Jack Henry & Associates Inc. filed as HENRY JACK & ASSOC INC | 0.04% | 3,043 | $481K | Reduce -15.3% |
| AIT Applied Industrial Tech Inc. | 0.04% | 1,784 | $473K | Reduce -15.4% |
| LFUS Littelfuse Inc. | 0.04% | 1,341 | $455K | Reduce -15.7% |
| TECH Bio-Techne Corp. | 0.03% | 8,137 | $425K | Reduce -18.1% |
| CR Crane Co. | 0.03% | 2,121 | $363K | Reduce -7.2% |
| SF Stifel Financial Corp. | 0.03% | 4,676 | $346K | Reduce -17.9% |
| WTS Watts Water Technologies-A | 0.03% | 1,143 | $332K | Reduce -7.3% |
| ESAB Esab Corp. | 0.03% | 3,294 | $318K | Reduce -15.3% |
| EVR Evercore Inc. Class A | 0.02% | 906 | $270K | Reduce -15.3% |
| MKTX Marketaxess Holdings Inc. | 0.02% | 1,604 | $265K | Reduce -15.7% |
| HLNE Hamilton Lane Inc. Class A | 0.02% | 2,167 | $215K | Reduce -15.8% |
| LMAT Lemaitre Vascular Inc. | 0.02% | 1,920 | $210K | Reduce -40.9% |
| TRU Transunion | 0.01% | 2,465 | $171K | Reduce -40.2% |
| INTERDIGITAL INC (IDCC 3.5 06/01/27) | 0.01% | 483 | $146K | Reduce -15.8% |
| RYAN Ryan Specialty Holdings Inc. | 0.01% | 3,896 | $131K | Reduce -69.1% |
| RLI Rli Corp. | 0.01% | 2,164 | $123K | Reduce -44.5% |
| BMI Badger Meter Inc. | 0.01% | 639 | $97K | Reduce -17.3% |
| PAYC Paycom Software Inc. | 0.01% | 796 | $97K | Reduce -71.8% |
Portfolio Sells Q4 2025 → Q1 2026
| WRB WR Berkley Corp. | Reduce -66.4% | 2.06% | −3.67 |
| MSFT Microsoft Corp. | Reduce -1.6% | 5.30% | −0.92 |
| INTU Intuit Inc. | Reduce -1.0% | 1.66% | −0.61 |
| HDB HDFC Bank Ltd.-ADR | Reduce -2.3% | 1.71% | −0.56 |
| AXP American Express Co. | Reduce -0.8% | 4.25% | −0.38 |
| BRO Brown & Brown Inc. | Reduce -1.0% | 3.43% | −0.31 |
| ABT Abbott Laboratories | Reduce -1.0% | 3.47% | −0.31 |
| ADP Automatic Data Processing | Reduce -0.9% | 2.29% | −0.29 |
| TMO Thermo Fisher Scientific Inc. | Reduce -1.0% | 3.82% | −0.20 |
| EFX Equifax Inc. | Reduce -0.9% | 1.82% | −0.13 |
| NDAQ Nasdaq Inc. | Reduce -1.9% | 3.47% | −0.10 |
| MA Mastercard Inc. Class A | Reduce -0.9% | 2.24% | −0.04 |
| RYAN Ryan Specialty Holdings Inc. | Reduce -69.1% | 0.01% | −0.04 |
| PAYC Paycom Software Inc. | Reduce -71.8% | 0.01% | −0.02 |
| TRU Transunion | Reduce -40.2% | 0.01% | −0.01 |
| JKHY Jack Henry & Associates Inc. | Reduce -15.3% | 0.04% | −0.01 |
| RLI Rli Corp. | Reduce -44.5% | 0.01% | −0.01 |
| TECH Bio-Techne Corp. | Reduce -18.1% | 0.03% | −0.01 |
| HLNE Hamilton Lane Inc. Class A | Reduce -15.8% | 0.02% | −0.01 |
| SF Stifel Financial Corp. | Reduce -17.9% | 0.03% | −0.01 |
| ESAB Esab Corp. | Reduce -15.3% | 0.03% | −0.01 |
| EVR Evercore Inc. Class A | Reduce -15.3% | 0.02% | −0.00 |
| MKTX Marketaxess Holdings Inc. | Reduce -15.7% | 0.02% | −0.00 |
| LMAT Lemaitre Vascular Inc. | Reduce -40.9% | 0.02% | −0.00 |
| BMI Badger Meter Inc. | Reduce -17.3% | 0.01% | −0.00 |
| INTERDIGITAL INC (IDCC 3.5 06/01/27) | Reduce -15.8% | 0.01% | −0.00 |
| CR Crane Co. | Reduce -7.2% | 0.03% | −0.00 |
| AIT Applied Industrial Tech Inc. | Reduce -15.4% | 0.04% | −0.00 |
| NVT Nvent Electric PLC | Reduce -22.5% | 0.04% | +0.00 |
| WTS Watts Water Technologies-A | Reduce -7.3% | 0.03% | +0.00 |
| LFUS Littelfuse Inc. | Reduce -15.7% | 0.04% | +0.01 |
| RBA RB Global Inc. | Reduce -0.9% | 0.74% | +0.03 |
| MSCI MSCI Inc. | Reduce -2.8% | 1.56% | +0.05 |
| ALC Alcon Inc. | Reduce -1.1% | 1.48% | +0.06 |
| SYK Stryker Corp. | Reduce -2.0% | 2.49% | +0.09 |
| GOOG Alphabet Inc. Class C | Reduce -1.8% | 6.63% | +0.10 |
| ZTS Zoetis Inc. | Reduce -2.0% | 2.82% | +0.12 |
| RMD Resmed Inc. | Reduce -0.9% | 3.63% | +0.16 |
| APH Amphenol Corp. Class A | Reduce -0.9% | 5.32% | +0.25 |
| GWW WW Grainger Inc. | Reduce -0.9% | 1.73% | +0.30 |
| AME Ametek Inc. | Reduce -3.7% | 2.80% | +0.34 |
| ROST Ross Stores Inc. | Reduce -2.6% | 4.12% | +1.01 |
| ADI Analog Devices Inc. | Reduce -1.6% | 5.04% | +1.18 |
| TSM Taiwan Semiconductor-SP ADR | Reduce -2.5% | 7.42% | +1.38 |
| AMAT Applied Materials Inc. | Reduce -4.1% | 7.17% | +2.21 |
Portfolio Buys Q4 2025 → Q1 2026
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 |