diff --git a/modules/juce_gui_basics/native/juce_Windowing_windows.cpp b/modules/juce_gui_basics/native/juce_Windowing_windows.cpp
--- a/modules/juce_gui_basics/native/juce_Windowing_windows.cpp
+++ b/modules/juce_gui_basics/native/juce_Windowing_windows.cpp
@@ -4285,7 +4285,9 @@ private:

         if (getTransparencyKind() == TransparencyKind::perPixel)
         {
-            if (auto parentHwnd = GetParent (hwnd))
+            // GetParent also returns the owner of an owned top-level window, whose
+            // coordinates are screen coordinates: only a real child peer is relative
+            if (auto parentHwnd = parentToAddTo)
             {
                 const auto parentRect = (D2DUtilities::toRectangle (getWindowScreenRect (parentHwnd)).toFloat() / getPlatformScaleFactor()).toNearestInt();
                 newBounds += parentRect.getPosition();