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DP

Dundas Partners Portfolio holdings

AUM $1.25B
1-Year Est. Return 13.92%
This Fund
S&P 500
This Quarter Est. Return
+4.16%
1 Year Est. Return
+13.92%
3 Year Est. Return
+60.92%
5 Year Est. Return
+73.49%
10 Year Est. Return
–
AUM
$1.42B
AUM Growth
-$22.2M
Cap. Flow
-$69.2M
Cap. Flow %
-4.88%
Top 10 Hldgs %
50.48%
Holding
57
New
7
Increased
22
Reduced
7
Closed
7

Top Buys

Rank Stock Value
1
ADP icon
Automatic Data Processing
ADP
+$45.4M
2
AMAT icon
Applied Materials
AMAT
+$30.1M
3
CRM icon
Salesforce
CRM
+$21.5M
4
ZTS icon
Zoetis
ZTS
+$17.1M
5
BRO icon
Brown & Brown
BRO
+$12.7M

Top Sells

Rank Stock Value
1
AIT icon
Applied Industrial Technologies
AIT
+$69.3M
2
GWW icon
W.W. Grainger
GWW
+$52.7M
3
MRSH
Marsh
MRSH
+$41M
4
FDS icon
Factset
FDS
+$32.3M
5
HD icon
Home Depot
HD
+$25.9M

Sector Composition

Rank Sector Weight
1 Technology 34.62%
2 Financials 28.29%
3 Healthcare 18.73%
4 Industrials 7%
5 Consumer Discretionary 6.13%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
MA icon
26
Mastercard
MA
$502B
$25.3M 1.79%
44,459
– –
MSCI icon
27
MSCI
MSCI
$41.6B
$21.4M 1.51%
37,782
– –
GWW icon
28
W.W. Grainger
GWW
$65.3B
$20.2M 1.43%
21,181
-52,469
-71% -$52.7M
CRM icon
29
Salesforce
CRM
$151B
$20.2M 1.42%
+85,152
New +$21.5M
RBA icon
30
RB Global
RBA
$20.4B
$10.1M 0.72%
93,605
-1,579
-2% -$177K
RYAN icon
31
Ryan Specialty Holdings
RYAN
$5.72B
$661K 0.05%
11,723
+1,523
+15% +$90.2K
WTS icon
32
Watts Water Technologies
WTS
$11.5B
$634K 0.04%
2,270
– –
PAYC icon
33
Paycom
PAYC
$7.64B
$587K 0.04%
2,819
+236
+9% +$53.2K
TECH icon
34
Bio-Techne
TECH
$11.2B
$553K 0.04%
+9,936
New +$532K
AIT icon
35
Applied Industrial Technologies
AIT
$12.8B
$551K 0.04%
2,110
-264,102
-99% -$69.3M
JKHY icon
36
Jack Henry & Associates
JKHY
$10.9B
$535K 0.04%
3,591
+691
+24% +$115K
ESAB icon
37
ESAB
ESAB
$5.38B
$472K 0.03%
4,224
+340
+9% +$40.4K
MKTX icon
38
MarketAxess Holdings
MKTX
$5.71B
$390K 0.03%
2,239
– –
SF
39
Stifel
SF
$12.6B
$381K 0.03%
+5,031
New +$377K
HLNE icon
40
Hamilton Lane
HLNE
$4.91B
$347K 0.02%
+2,574
New +$388K
TRU icon
41
TransUnion
TRU
$15.1B
$345K 0.02%
4,122
+670
+19% +$60.8K
NVT icon
42
nVent Electric
NVT
$24.9B
$324K 0.02%
+3,281
New +$285K
CR icon
43
Crane Co
CR
$12.3B
$320K 0.02%
+1,736
New +$327K
RLI icon
44
RLI Corp
RLI
$5.62B
$313K 0.02%
4,800
– –
EVR icon
45
Evercore
EVR
$12.4B
$309K 0.02%
+917
New +$287K
LFUS icon
46
Littelfuse
LFUS
$11.2B
$236K 0.02%
913
+189
+26% +$47.3K
LMAT icon
47
LeMaitre Vascular
LMAT
$2.32B
$233K 0.02%
2,660
– –
GGG icon
48
Graco
GGG
$12.9B
$156K 0.01%
1,842
– –
BMI icon
49
Badger Meter
BMI
$3.89B
$138K 0.01%
773
-7,671
-91% -$1.51M
AAPL icon
50
Apple
AAPL
$4.54T
– –
-1,912
Closed -$444K
1
2
3

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PIA
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DAM
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HP
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CPA
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TCA
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LIA
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TBC
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Dundas Partners's Q3 2025 Portfolio in Review

As of Q3 2025, Dundas Partners held 57 positions worth $1.42B, down 1.5% from $1.44B the previous quarter. Its ten largest holdings account for 50% of the portfolio.

Dundas Partners withdrew a net $69.2M in Q3 2025, closing 7 positions and reducing 7 holdings. Its most notable exit was Marsh, an estimated $41M position sold in full.

By sector, the portfolio is most concentrated in Technology at 35% of assets, up from 26% a quarter earlier, followed by Financials and Healthcare.

Against the trend, Dundas Partners opened a new position in Salesforce worth $20.2M.

  • Dundas Partners's largest Q3 2025 buy was Salesforce: 85,152 shares worth $20.2M.
  • Dundas Partners added most to Automatic Data Processing in Q3 2025, an estimated $45.4M increase.
  • Dundas Partners's biggest Q3 2025 reduction was Applied Industrial Technologies, cutting an estimated $69.3M.
  • Dundas Partners fully exited Marsh in Q3 2025, selling an estimated $41M.
  • Dundas Partners's ten largest holdings make up 50% of its $1.42B portfolio in Q3 2025.
  • Dundas Partners opened 7 new positions and closed 7 in Q3 2025.
  • Dundas Partners's portfolio value fell 1.5% quarter-over-quarter to $1.42B.

Based on Dundas Partners's 13F filing for Q3 2025, filed 13 Nov 2025.