Dundas Partners LLP
Long book
$1.25B
Q1 2026
Positions
49
Top-10 weight
54%
concentration
Last quarter
+13.5%
SPY +14.8%
Turnover
0%
of book per quarter
Strategy in plain words
auto-generated from filingsDundas Partners LLP is a diversified fundamental manager, running a $1.25B US long book across 49 positions.
The portfolio is concentrated: the top 10 names carry 54% of the portfolio. The book barely moves quarter to quarter — a patient, low-turnover holder. Current anchor positions: TAIWAN SEMICONDUCTOR-SP ADR, APPLIED MATERIALS INC, ALPHABET INC-CL C, AMPHENOL CORP-CL A, MICROSOFT CORP.
Over the last 9 quarters its long book ran on average 1.2pp per quarter behind the S&P 500, beating the index in 3 of 9 quarters. We rate its filings as signal-bearing: position changes reflect genuine views.
Implied long-book return vs S&P 500
methodology: positions priced quarterly, no shorts/options Fund long book S&P 500
Q1 2024
+0.5%
Q2 2024
+9.4%
Q3 2024
+0.1%
Q4 2024
-1.3%
Q1 2025
+8.8%
Q2 2025
+2.3%
Q3 2025
+3.5%
Q4 2025
-7.5%
Q1 2026
+13.5%
Sector allocation
Technology 42%
Healthcare 15%
Financials 15%
Services media 14%
Consumer discretionary 6%
Other 4%
Industrials 4%
Long book by quarter
What does Dundas Partners own?
Q1 2026 13F| Company | Sector | Shares | Value | % of book | Change |
|---|---|---|---|---|---|
| AMAT APPLIED MATERIALS INC | Technology | 262.9K | $89.9M | 7.2% | -4.1% |
| GOOG ALPHABET INC-CL C | Technology | 289.9K | $83.2M | 6.6% | -1.8% |
| APH AMPHENOL CORP-CL A | Technology | 527.9K | $66.7M | 5.3% | -0.9% |
| MSFT MICROSOFT CORP | Technology | 179.5K | $66.4M | 5.3% | -1.6% |
| ADI ANALOG DEVICES INC | Technology | 198.7K | $63.2M | 5.0% | -1.6% |
| V VISA INC-CLASS A SHARES | Services media | 194.0K | $58.6M | 4.7% | +8.5% |
| AXP AMERICAN EXPRESS CO | Financials | 176.2K | $53.3M | 4.3% | -0.8% |
| ROST ROSS STORES INC | Consumer discretionary | 238.8K | $51.7M | 4.1% | -2.6% |
| TMO THERMO FISHER SCIENTIFIC INC | Other | 97.4K | $47.9M | 3.8% | -1.0% |
| RMD RESMED INC | Healthcare | 203.0K | $45.6M | 3.6% | -0.9% |
| ABT ABBOTT LABORATORIES | Healthcare | 423.9K | $43.5M | 3.5% | -1.0% |
| NDAQ NASDAQ INC | Financials | 512.0K | $43.5M | 3.5% | -1.9% |
| BRO BROWN & BROWN INC | Financials | 660.0K | $43.0M | 3.4% | -1.0% |
| BKNG BOOKING HOLDINGS INC | Industrials | 9.1K | $38.3M | 3.1% | +9.6% |
| ZTS ZOETIS INC | Healthcare | 299.3K | $35.4M | 2.8% | -2.0% |
| AME AMETEK INC | Technology | 163.9K | $35.1M | 2.8% | -3.7% |
| SYK STRYKER CORP | Healthcare | 95.0K | $31.2M | 2.5% | -2.0% |
| ADP AUTOMATIC DATA PROCESSING | Technology | 141.3K | $28.7M | 2.3% | -0.9% |
| MA MASTERCARD INC - A | Services media | 56.1K | $28.0M | 2.2% | -0.9% |
| WRB WR BERKLEY CORP | Financials | 390.6K | $25.9M | 2.1% | -66.4% |
| EFX EQUIFAX INC | Services media | 126.9K | $22.9M | 1.8% | -0.9% |
| ACN ACCENTURE PLC-CL A | Services media | 114.5K | $22.7M | 1.8% | +31.3% |
| GWW WW GRAINGER INC | Consumer discretionary | 19.9K | $21.7M | 1.7% | -0.9% |
| INTU INTUIT INC | Technology | 48.1K | $20.8M | 1.7% | -1.0% |
| CRM SALESFORCE INC | Technology | 105.3K | $19.7M | 1.6% | +25.8% |
| MSCI MSCI INC | Services media | 36.2K | $19.5M | 1.6% | -2.8% |
| ALC ALCON INC | Healthcare | 249.7K | $18.5M | 1.5% | -1.1% |
| RBA RB GLOBAL INC | Services media | 96.5K | $9.2M | 0.7% | -0.9% |
| NVT NVENT ELECTRIC PLC | Industrials | 4.8K | $564K | 0.0% | -22.5% |
| JKHY JACK HENRY & ASSOCIATES INC | Technology | 3.0K | $481K | 0.0% | -15.3% |
| AIT APPLIED INDUSTRIAL TECH INC | Consumer discretionary | 1.8K | $473K | 0.0% | -15.5% |
| LFUS LITTELFUSE INC | Industrials | 1.3K | $455K | 0.0% | -15.7% |
| TECH BIO-TECHNE CORP | Healthcare | 8.1K | $425K | 0.0% | -18.1% |
| CR CRANE CO | Industrials | 2.1K | $363K | 0.0% | -7.2% |
| SF STIFEL FINANCIAL CORP | Financials | 4.7K | $346K | 0.0% | +23.1% |
| WTS WATTS WATER TECHNOLOGIES-A | Industrials | 1.1K | $332K | 0.0% | -7.3% |
| ESAB ESAB CORP | Industrials | 3.3K | $318K | 0.0% | -15.3% |
| EVR EVERCORE INC - A | Financials | 906 | $270K | 0.0% | -15.2% |
| MKTX MARKETAXESS HOLDINGS INC | Financials | 1.6K | $265K | 0.0% | -15.7% |
| HLNE HAMILTON LANE INC-CLASS A | Financials | 2.2K | $215K | 0.0% | -15.8% |
| LMAT LEMAITRE VASCULAR INC | Healthcare | 1.9K | $210K | 0.0% | -40.9% |
| TRU TRANSUNION | Services media | 2.5K | $171K | 0.0% | -40.2% |
| RYAN RYAN SPECIALTY HOLDINGS INC | Financials | 3.9K | $131K | 0.0% | -69.1% |
| RLI RLI CORP | Financials | 2.2K | $123K | 0.0% | -44.5% |
| BMI BADGER METER INC | Technology | 639 | $97K | 0.0% | -17.3% |
| PAYC PAYCOM SOFTWARE INC | Technology | 796 | $97K | 0.0% | -71.8% |
13F filing history
| Period | Form | Filed | Entries | Reported value | Flags | Source |
|---|---|---|---|---|---|---|
| Q1 2026 | 13F-HR | May 14, 2026 | 49 | $1.25B | canonical | SEC ↗ |
| Q4 2025 | 13F-HR | Feb 12, 2026 | 50 | $1.42B | canonical | SEC ↗ |
| Q3 2025 | 13F-HR | Nov 13, 2025 | 51 | $1.42B | canonical | SEC ↗ |
| Q2 2025 | 13F-HR | Aug 12, 2025 | 50 | $1.44B | canonical | SEC ↗ |
| Q1 2025 | 13F-HR | May 13, 2025 | 51 | $1.36B | canonical | SEC ↗ |
| Q4 2024 | 13F-HR | Feb 7, 2025 | 51 | $1.43B | canonical | SEC ↗ |
| Q3 2024 | 13F-HR | Nov 14, 2024 | 52 | $1.39B | canonical | SEC ↗ |
| Q2 2024 | 13F-HR | Aug 14, 2024 | 51 | $1.29B | $K fixed canonical | SEC ↗ |
| Q1 2024 | 13F-HR | May 14, 2024 | 46 | $1.27B | $K fixed canonical | SEC ↗ |
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