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VAM
Veritas Asset Management Portfolio holdings
AUM
$5.9B
1-Year Est. Return
3.19%
This Fund
S&P 500
This Quarter
Est. Return
+4.85%
1 Year Est. Return
-3.19%
3 Year Est. Return
+26.61%
5 Year Est. Return
+23.16%
10 Year Est. Return
+201.18%
AUM
$12.2B
AUM Growth
-$575M
(-4.5%)
Cap. Flow
-$991M
Cap. Flow
% of AUM
-8.1%
Top 10 Holdings %
Top 10 Hldgs %
68.01%
Holding
32
New
3
Increased
11
Reduced
9
Closed
5
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
Qualcomm
QCOM
|
+$288M |
| 2 |
Thermo Fisher Scientific
TMO
|
+$194M |
| 3 |
American Express
AXP
|
+$63.3M |
| 4 |
Comcast
CMCSA
|
+$46.8M |
| 5 |
ESRX
Express Scripts Holding Company
ESRX
|
+$28.6M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Charter Communications
CHTR
|
+$438M |
| 2 |
UnitedHealth
UNH
|
+$422M |
| 3 |
Oracle
ORCL
|
+$420M |
| 4 |
TSMC
TSM
|
+$413M |
| 5 |
Microsoft
MSFT
|
+$7.58M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Healthcare | 32.79% |
| 2 | Communication Services | 30.14% |
| 3 | Technology | 14.98% |
| 4 | Financials | 8.42% |
| 5 | Real Estate | 0.46% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
|
1
Comcast
CMCSA
$85B
| $1.28B | 10.45% |
33,195,373
+1,189,200
| +4% | +$46.8M |
|
|
2
American Express
AXP
$242B
| $999M | 8.17% |
11,039,153
+735,952
| +7% | +$63.3M |
|
|
3
Charter Communications
CHTR
$16.2B
| $970M | 7.93% |
2,668,027
-1,177,083
| -31% | -$438M |
|
4
Baidu
BIDU
$36.5B
| $846M | 6.92% |
3,415,287
+10,989
| +0.3% | +$2.4M |
|
|
5
Microsoft
MSFT
$2.93T
| $763M | 6.24% |
10,236,325
-103,757
| -1% | -$7.58M |
|
6
CVS Health
CVS
$137B
| $705M | 5.77% |
8,674,524
+235,960
| +3% | +$18.7M |
|
|
7
Qualcomm
QCOM
$181B
| $696M | 5.69% |
13,429,265
+5,453,631
| +68% | +$288M |
|
|
8
Thermo Fisher Scientific
TMO
$198B
| $663M | 5.42% |
3,503,259
+1,072,500
| +44% | +$194M |
|
9
Baxter International
BAX
$11.7B
| $633M | 5.18% |
10,095,202
-83,900
| -0.8% | -$5.18M |
|
|
10
UnitedHealth
UNH
$387B
| $608M | 4.97% |
3,105,479
-2,186,388
| -41% | -$422M |
|
11
Alphabet (Google) Class A
GOOGL
$4.23T
| $575M | 4.7% |
11,803,420
-34,000
| -0.3% | -$1.61M |
|
|
ESRX
12
DELISTED
Express Scripts Holding Company
ESRX
| $548M | 4.48% |
8,652,910
+460,338
| +6% | +$28.6M |
|
13
Waters Corp
WAT
$36.2B
| $426M | 3.49% |
2,374,897
-23,500
| -1% | -$4.26M |
|
|
14
Oracle
ORCL
$364B
| $374M | 3.05% |
7,725,345
-8,433,300
| -52% | -$420M |
|
15
Dentsply Sirona
XRAY
$2.81B
| $369M | 3.02% |
6,168,455
-32,700
| -0.5% | -$1.94M |
|
|
CERN
16
DELISTED
Cerner Corp
CERN
| $263M | 2.15% |
3,687,172
+167,900
| +5% | +$11.1M |
|
17
Pfizer
PFE
$143B
| $56.9M | 0.47% |
1,679,444
| – | – |
|
18
Welltower
WELL
$172B
| $55.7M | 0.46% |
793,000
| – | – |
|
|
SRCLP
19
DELISTED
Stericycle, Inc
SRCLP
| $48.1M | 0.39% |
818,000
+76,000
| +10% | +$4.65M |
|
20
Alibaba
BABA
$276B
| $23.3M | 0.19% |
135,000
-40,000
| -23% | -$6.48M |
|
21
NetEase
NTES
$84.1B
| $18.2M | 0.15% |
+345,000
| New | +$19.8M |
|
22
Moody's
MCO
$89.2B
| $16.7M | 0.14% |
119,700
| – | – |
|
23
HDFC Bank
HDB
$135B
| $14.5M | 0.12% |
+600,000
| New | +$14.3M |
|
24
Franco-Nevada
FNV
$38.7B
| $4.73M | 0.04% |
61,000
| – | – |
|
25
New Oriental
EDU
$7.82B
| $883K | 0.01% |
+10,000
| New | +$815K |
|
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Veritas Asset Management's Q3 2017 Portfolio in Review
As of Q3 2017, Veritas Asset Management held 32 positions worth $12.2B, down 4.5% from $12.8B the previous quarter. Its ten largest holdings account for 68% of the portfolio.
Veritas Asset Management withdrew a net $991M in Q3 2017, closing 5 positions and reducing 9 holdings. Its most notable exit was TSMC, an estimated $413M position sold in full.
By sector, the portfolio is most concentrated in Healthcare at 33% of assets, up from 32% a quarter earlier, followed by Communication Services and Technology.
Against the trend, Veritas Asset Management opened a new position in NetEase worth $18.2M.
- Veritas Asset Management's largest Q3 2017 buy was NetEase: 345,000 shares worth $18.2M.
- Veritas Asset Management added most to Qualcomm in Q3 2017, an estimated $288M increase.
- Veritas Asset Management's biggest Q3 2017 reduction was Charter Communications, cutting an estimated $438M.
- Veritas Asset Management fully exited TSMC in Q3 2017, selling an estimated $413M.
- Veritas Asset Management's ten largest holdings make up 68% of its $12.2B portfolio in Q3 2017.
- Veritas Asset Management opened 3 new positions and closed 5 in Q3 2017.
- Veritas Asset Management's portfolio value fell 4.5% quarter-over-quarter to $12.2B.
Based on Veritas Asset Management's 13F filing for Q3 2017, filed 1 Nov 2017.