Veritas Asset Management LLP
In its 13F for Q4 2024 (holdings as of December 31, 2024, filed February 4, 2025), Veritas Asset Management LLP reported 35 stock positions worth $10.7 billion. Its top holding was Alphabet Class A (GOOGL) at 10.9% of the portfolio, followed by Amazon.com (AMZN, 10.8%) and Microsoft (MSFT, 7.9%). Compared with Q3 2024, it opened 4 new positions, sold out of 3, added to 1 and reduced 22. The biggest buy was a new position in Schwab (charles) (SCHW) and the biggest sale Automatic Data Processing (ADP, shares −98%).
- Most Recent 13F
- Q2 2026
- Location
- London, X0
- CIK
- 0001541448
- Portfolio Value
- $10.7B (Q4 2024)
- SEC Filing
- 0001172661-25-000488 ↗ filed Feb 4, 2025
Holdings Value
Holdings 35 stocks · $10.7B
| GOOGL Alphabet Inc. Class A | 10.87% | 6,160,305 | $1.2B | Reduce -33.8% |
| AMZN Amazon.com Inc. | 10.76% | 5,257,561 | $1.2B | Reduce -32.1% |
| MSFT Microsoft Corp. | 7.90% | 2,010,982 | $847.6M | Reduce -9.8% |
| CRM Salesforce Inc. | 7.58% | 2,432,713 | $813.3M | Reduce -9.3% |
| CP Canadian Pacific Kansas City | 7.55% | 11,189,446 | $809.8M | Reduce -8.3% |
| AON Aon PLC Class A | 7.44% | 2,220,648 | $797.6M | Reduce -26.2% |
| UNH Unitedhealth Group Inc. | 7.30% | 1,547,220 | $782.7M | Reduce -12.0% |
| CHTR Charter Communications Inc. Class A | 5.75% | 1,800,378 | $617.1M | Reduce -10.3% |
| ICE Intercontinental Exchange Inc. | 5.21% | 3,750,592 | $558.9M | Reduce -11.2% |
| TMO Thermo Fisher Scientific Inc. | 4.98% | 1,027,159 | $534.4M | Reduce -9.1% |
| BDX Becton Dickinson and Co. | 4.35% | 2,057,554 | $466.8M | Reduce -10.3% |
| MA Mastercard Inc. Class A | 4.26% | 867,937 | $457.0M | Reduce -40.0% |
| COO The Cooper Cos Inc. | 3.48% | 4,054,818 | $372.8M | Reduce -8.1% |
| ELV Elevance Health Inc. | 3.39% | 986,738 | $364.0M | Reduce -10.1% |
| ZTS Zoetis Inc. | 3.00% | 1,972,680 | $321.4M | Reduce -14.1% |
| BIO Bio-Rad Laboratories-A | 2.99% | 976,827 | $320.9M | Reduce -10.1% |
| SCHW Schwab (charles) Corp. | 1.73% | 2,508,436 | $185.6M | New |
| TME Tencent Music Entertainm-ADR | 0.32% | 3,017,695 | $34.3M | Add +44.6% |
| FUTU Futu Holdings Ltd.-ADR filed as FUTU HLDGS LTD | 0.23% | 301,644 | $24.1M | Reduce -27.0% |
| MDT Medtronic PLC | 0.13% | 181,007 | $14.5M | No change |
| IBN Icici Bank Ltd.-Spon ADR | 0.12% | 429,919 | $12.8M | No change |
| PM Philip Morris International | 0.11% | 101,545 | $12.2M | No change |
| HDB HDFC Bank Ltd.-ADR | 0.09% | 155,817 | $10.0M | No change |
| CTSH Cognizant Tech Solutions-A | 0.08% | 115,295 | $8.9M | No change |
| MSM MSC Industrial Direct Co. Class A | 0.08% | 116,681 | $8.7M | No change |
| FNV Franco-Nevada Corp. | 0.08% | 72,266 | $8.5M | Reduce -7.7% |
| ADP Automatic Data Processing | 0.07% | 26,791 | $7.8M | Reduce -98.0% |
| NTES Netease Inc.-ADR | 0.05% | 55,069 | $4.9M | No change |
| PDD PDD Holdings Inc. | 0.02% | 23,791 | $2.3M | Reduce -7.5% |
| TSM Taiwan Semiconductor-SP ADR | 0.02% | 9,960 | $2.0M | Reduce -42.4% |
| EDU New Oriental Educatio-SP ADR | 0.02% | 26,038 | $1.7M | No change |
| JD Jd.com Inc.-ADR | 0.01% | 24,099 | $836K | Reduce -96.8% |
| YMM Full Truck Alliance -SPN ADR | 0.01% | 72,884 | $789K | New |
| BEKE Ke Holdings Inc.-ADR filed as KE HLDGS INC | 0.01% | 29,702 | $547K | New |
| TAL Tal Education Group- ADR | 0.00% | 43,076 | $432K | New |
Portfolio Sells Q3 2024 → Q4 2024
| ADP Automatic Data Processing | Reduce -98.0% | 0.07% | −2.68 |
| MA Mastercard Inc. Class A | Reduce -40.0% | 4.26% | −1.02 |
| ELV Elevance Health Inc. | Reduce -10.1% | 3.39% | −0.82 |
| GOOGL Alphabet Inc. Class A | Reduce -33.8% | 10.87% | −0.53 |
| ZTS Zoetis Inc. | Reduce -14.1% | 3.00% | −0.32 |
| UNH Unitedhealth Group Inc. | Reduce -12.0% | 7.30% | −0.30 |
| AON Aon PLC Class A | Reduce -26.2% | 7.44% | −0.26 |
| JD Jd.com Inc.-ADR | Reduce -96.8% | 0.01% | −0.21 |
| TMO Thermo Fisher Scientific Inc. | Reduce -9.1% | 4.98% | −0.18 |
| CP Canadian Pacific Kansas City | Reduce -8.3% | 7.55% | −0.17 |
| COO The Cooper Cos Inc. | Reduce -8.1% | 3.48% | −0.12 |
| FUTU Futu Holdings Ltd.-ADR | Reduce -27.0% | 0.23% | −0.07 |
| META Meta Platforms Inc. Class A | Sold out | 0.00% | −0.06 |
| INFY Infosys Ltd.-SP ADR | Sold out | 0.00% | −0.03 |
| TCOM Trip.com Group Ltd.-ADR | Sold out | 0.00% | −0.01 |
| PDD PDD Holdings Inc. | Reduce -7.5% | 0.02% | −0.00 |
| TSM Taiwan Semiconductor-SP ADR | Reduce -42.4% | 0.02% | −0.00 |
| FNV Franco-Nevada Corp. | Reduce -7.7% | 0.08% | +0.01 |
| AMZN Amazon.com Inc. | Reduce -32.1% | 10.76% | +0.09 |
| ICE Intercontinental Exchange Inc. | Reduce -11.2% | 5.21% | +0.20 |
| BDX Becton Dickinson and Co. | Reduce -10.3% | 4.35% | +0.26 |
| BIO Bio-Rad Laboratories-A | Reduce -10.1% | 2.99% | +0.31 |
| MSFT Microsoft Corp. | Reduce -9.8% | 7.90% | +0.81 |
| CHTR Charter Communications Inc. Class A | Reduce -10.3% | 5.75% | +0.95 |
| CRM Salesforce Inc. | Reduce -9.3% | 7.58% | +2.16 |
Portfolio Buys Q3 2024 → Q4 2024
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 21 | $5.6B | AMZN, MA, CP, AON, UNH |
| Q1 2026 | 21 | $5.9B | AMZN, CP, MA, UNH, AON |
| Q4 2025 | 27 | $9.8B | AMZN, MSFT, UNH, CRM, AON |
| Q3 2025 | 30 | $9.4B | MSFT, AMZN, UNH, AON, CP |
| Q2 2025 | 34 | $10.0B | MSFT, AMZN, UNH, GOOGL, CP |
| Q1 2025 | 35 | $9.9B | MSFT, AMZN, UNH, GOOGL, CP |
| Q4 2024 | 35 | $10.7B | GOOGL, AMZN, MSFT, CRM, CP |
| Q3 2024 | 34 | $13.5B | GOOGL, AMZN, CP, AON, UNH |
| Q2 2024 | 32 | $13.2B | GOOGL, AMZN, CP, UNH, FISV |
| Q1 2024 | 33 | $13.8B | GOOGL, AMZN, CP, FISV, ICE |