SEC 13F Intelligence

Managers / Q2 2025 · view latest →

Dundas Partners LLP

CIK 0001742418 · 41 NORTHUMBERLAND STREET, EDINBURGH, X0, EH3 6JA · 00441315562627

Reported Value
$1.4B
Q2 2025
Positions
50
Filings on Record
31
2019–present window
Filed
Aug 12, 2025
original filing

Summary

Dundas Partners LLP reported $1.4B in U.S.-listed holdings across 50 positions for Q2 2025.

Its largest position, MSFT, represents 6.4% of the portfolio.

Compared with Q1 2025, the fund opened 3 new positions and exited 2.

Portfolio Metrics

Turnover
+8.0%
vs prior filed quarter
Top-10 Concentration
+45.5%
share of reported value
Largest Position
+6.4%
Microsoft
New / Exited
3 / 2
positions this quarter

Methodology: turnover is min(value bought, value sold) ÷ average reported value across the two quarters — value-based, so market moves inflate it slightly versus a share-based measure. Concentration and largest position are shares of the filing’s total reported value, options excluded. New/exited counts compare against the prior filed quarter. All figures derive solely from the fund’s 13F filings.

Reported Value by Quarter

13F Reported Value
Q4 ’18: $458MQ4 ’18Q1 ’19: $406MQ2 ’19: $428MQ3 ’19: $402MQ4 ’19: $442MQ4 ’19Q1 ’20: $382MQ2 ’20: $457MQ3 ’20: $499MQ4 ’20: $684MQ4 ’20Q1 ’21: $630MQ2 ’21: $689MQ3 ’21: $709MQ4 ’21: $805MQ4 ’21Q1 ’22: $1.1BQ2 ’22: $924MQ3 ’22: $860MQ1 ’23: $956,311Q1 ’23Q2 ’23: $1MQ3 ’23: $1MQ4 ’23: $1MQ1 ’24: $1MQ1 ’24Q2 ’24: $1MQ4 ’24: $1.4BQ1 ’25: $1.4BQ2 ’25: $1.4BQ2 ’25Q3 ’25: $1.4BQ4 ’25: $1.4BQ1 ’26: $1.3Bfilingsflow.com

Portfolio Composition

By security type
Common Stock: 88.1%ADR: 6.8%Other: 5.0%US DOMESTIC: 0.0%
  • Common Stock · 88.1% · $1.3B
  • ADR · 6.8% · $98M
  • Other · 5.0% · $73M
  • US DOMESTIC · 0.0% · $370,876

Quarter-over-Quarter Changes full breakdown →

vs Q1 2025 (amended baseline)

IssuerMoveShare ΔShares nowValue ΔValue now
JKHYHENRY JACK & ASSOC INCNEW+2.9K2.9K+$522,493$522,493
RLIRLI CORPNEW+4.8K4.8K+$346,656$346,656
LMATLEMAITRE VASCULAR INCNEW+2.7K2.7K+$220,913$220,913
AITAPPLIED INDL TECHNOLOGIES INADDED+264.2K266.2K+$48M$49M
BMIBADGER METER INCADDED+6.9K8.4K+$132,137$434,444
NDSNNORDSON CORPSOLD OUT−119.3K0−$24M$0
PWIPOWER INTEGRATIONS INCSOLD OUT−4.2K0−$212,656$0
ADPAUTOMATIC DATA PROCESSING INCTRIMMED−111.7K773−$34M$189,346

Value changes conflate price moves with buying and selling — share changes are the real signal. Share counts are not split-adjusted.

Holdings — Q2 2025

50 positions
Export to Excel
#IssuerClass% PortfolioValue ↓Shares
1MSFTMICROSOFT CORPhistory →COM6.45%$93M186.5K
2WRBWR BERKLEY CORPhistory →COM5.74%$83M1.12M
3GWWWW GRAINGER INChistory →COM5.33%$77M73.7K
4TSMTAIWAN SEMICONDUCTOR SP ADRhistory →SPONSORED ADR4.45%$64M282.4K
5VVISA INC CLASS A SHAREShistory →COM CL A4.32%$62M175.0K
6APHAMPHENOL CORP NEWhistory →CL A4.24%$61M617.4K
7BROBROWN & BROWN INChistory →COM3.88%$56M503.1K
8AXPAMERICAN EXPRESS COhistory →COM3.87%$56M174.4K
9GOOGALPHABET INC CL Chistory →CAP STK CL C3.72%$54M301.7K
10ABTABBOTT LABORATORIEShistory →COM3.51%$51M371.7K
11AITAPPLIED INDL TECHNOLOGIES INhistory →COM3.39%$49M266.2K
12ADIANALOG DEVICES INChistory →COM3.28%$47M198.0K
13NDAQNASDAQ INChistory →COM3.11%$45M500.8K
14BKNGBOOKING HOLDINGS INChistory →COM2.93%$42M7.3K
15MRSHMARSH & MCLENNAN COShistory →COM2.85%$41M187.5K
16RMERESMED INChistory →COM2.73%$39M152.2K
17ACCENTURE PLC CL ASHS CLASS A2.63%$38M126.6K
18TMOTHERMO FISHER SCIENTIFIC INChistory →COM2.63%$38M93.2K
19SYKSTRYKER CORPhistory →COM2.49%$36M90.5K
20ROSTROSS STORES INChistory →COM2.48%$36M279.1K
21AMATAPPLIED MATERIALS INChistory →COM2.41%$35M112.5K
22ALCON AGORD SHS2.41%$35M391.8K
23EFXEQUIFAX INChistory →COM2.39%$34M132.6K
24HDBHDFC BANK LTD ADRhistory →SPONSORED ADR2.36%$34M443.4K
25FDSFACTSET RESH SYS INChistory →COM2.24%$32M72.2K
26AMEAMETEK INChistory →COM2.17%$31M172.5K
27ZTSZOETIS INChistory →CL A2.14%$31M197.7K
28INTUINTUIThistory →COM2.02%$29M36.9K
29HDHOME DEPOT INChistory →COM1.80%$26M70.5K
30MAMASTERCARD INCORPORATEDhistory →CL A1.74%$25M44.5K
31COSTCOSTCO WHOLESALE CORPhistory →COM1.65%$24M24.0K
32MSCIMSCI INChistory →COM1.51%$22M37.8K
33RBARB GLOBAL INChistory →COM0.70%$10M95.2K
34RYANRYAN SPECIALTY HOLDINGS INCCL A0.05%$693,49810.2K
35PAYCPAYCOM SOFTWARE INCCOM0.04%$597,7062.6K
36WTSWATTS WATER TECHNOLOGIES INCCL A0.04%$558,1702.3K
37JKHYHENRY JACK & ASSOC INCCOM0.04%$522,4932.9K
38MKTXMARKETAXESS HLDGS INCCOM0.03%$500,0582.2K
39ESABESAB CORPORATIONCOM0.03%$468,2163.9K
40AAPLAPPLE INCCOM0.03%$444,4441.9K
41BMIBADGER METER INCCOM0.03%$434,4448.4K
42INTERDIGITAL INCCOM0.03%$370,8761.7K
43RLIRLI CORPCOM0.02%$346,6564.8K
44TRUTRANSUNIONCOM0.02%$303,7763.5K
45MORNMORNINGSTAR INCCOM0.02%$280,967895
46SIGISELECTIVE INS GROUP INCCOM0.02%$236,9012.7K
47LMATLEMAITRE VASCULAR INCCOM0.02%$220,9132.7K
48ADPAUTOMATIC DATA PROCESSING INCCOM0.01%$189,346773
49LFUSLITTELFUSE INCCOM0.01%$164,153724
50GGGGRACO INCCOM0.01%$158,3571.8K

Filing History

QuarterReported ValuePositionsFiledTypeLinks
Q1 2026$1.3B49May 14, 202613F-HRchanges · EDGAR ↗
Q4 2025$1.4B49Feb 12, 202613F-HRchanges · EDGAR ↗
Q3 2025$1.4B50Nov 13, 202513F-HRchanges · EDGAR ↗
Q2 2025$1.4B50Aug 12, 202513F-HRchanges · EDGAR ↗
Q1 2025$1.4B49May 13, 202513F-HRchanges · EDGAR ↗
Q4 2024$1.4B50Feb 7, 202513F-HRchanges · EDGAR ↗
Q3 2024Under review51Nov 14, 202413F-HRchanges · EDGAR ↗
Q2 2024$1M50Aug 14, 202413F-HRchanges · EDGAR ↗
Q1 2024$1M46May 14, 202413F-HRchanges · EDGAR ↗
Q4 2023$1M47Feb 8, 202413F-HRchanges · EDGAR ↗
Q3 2023$1M50Nov 14, 202313F-HRchanges · EDGAR ↗
Q2 2023$1M52Aug 11, 202313F-HRchanges · EDGAR ↗
Q1 2023$956,31151May 12, 202313F-HRchanges · EDGAR ↗
Q4 2022Under review51Feb 8, 202313F-HRchanges · EDGAR ↗
Q3 2022$860M52Nov 14, 202213F-HRchanges · EDGAR ↗
Q2 2022$924M55Aug 12, 202213F-HRchanges · EDGAR ↗
Q1 2022$1.1B56May 13, 202213F-HRchanges · EDGAR ↗
Q4 2021$805M55Feb 14, 202213F-HRchanges · EDGAR ↗
Q3 2021$709M56Nov 12, 202113F-HRchanges · EDGAR ↗
Q2 2021$689M37Aug 9, 202113F-HRchanges · EDGAR ↗
Q1 2021$630M37May 14, 2021RESTATEMENTchanges · EDGAR ↗
Q4 2020$684M34Feb 12, 202113F-HRchanges · EDGAR ↗
Q3 2020$499M33Nov 13, 202013F-HRchanges · EDGAR ↗
Q2 2020$457M33Aug 13, 202013F-HRchanges · EDGAR ↗
Q1 2020$382M34May 14, 202013F-HRchanges · EDGAR ↗
Q4 2019$442M29Feb 7, 202013F-HRchanges · EDGAR ↗
Q3 2019$402M29Nov 1, 201913F-HRchanges · EDGAR ↗
Q2 2019$428M31Aug 1, 201913F-HRchanges · EDGAR ↗
Q1 2019$406M32May 2, 201913F-HRchanges · EDGAR ↗
Q4 2018$458M32Feb 15, 201913F-HRchanges · EDGAR ↗

13F filings are due up to 45 days after quarter end, so holdings shown here lag the fund’s current book. Source: original SEC filing on EDGAR ↗.