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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
+2.2%
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
$9.36B
AUM Growth
-$635M
Cap. Flow
-$751M
Cap. Flow %
-8.02%
Top 10 Hldgs %
78.57%
Holding
36
New
2
Increased
4
Reduced
18
Closed
6

Top Buys

Rank Stock Value
1
CRM icon
Salesforce
CRM
+$246M
2
WAT icon
Waters Corp
WAT
+$176M
3
BDX icon
Becton Dickinson
BDX
+$158M
4
AON icon
Aon
AON
+$120M
5
H icon
Hyatt Hotels
H
+$29.4M

Top Sells

Rank Stock Value
1
GOOGL icon
Alphabet (Google) Class A
GOOGL
+$516M
2
MSFT icon
Microsoft
MSFT
+$422M
3
HLT icon
Hilton Worldwide
HLT
+$166M
4
UNH icon
UnitedHealth
UNH
+$138M
5
SCHW
Charles Schwab
SCHW
+$69.7M

Sector Composition

Rank Sector Weight
1 Healthcare 32.5%
2 Technology 19.87%
3 Financials 17.94%
4 Consumer Discretionary 11.2%
5 Communication Services 10.54%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
MSFT icon
1
Microsoft
MSFT
$2.84T
$1.13B 12.07%
2,181,829
-827,769
-28% -$422M
AMZN icon
2
Amazon
AMZN
$2.5T
$1.01B 10.76%
4,587,764
-202,373
-4% -$45.8M
UNH icon
3
UnitedHealth
UNH
$382B
$916M 9.79%
2,652,995
-454,996
-15% -$138M
AON icon
4
Aon
AON
$77.3B
$732M 7.82%
2,053,673
+332,685
+19% +$120M
CP icon
5
Canadian Pacific Kansas City
CP
$82B
$724M 7.73%
9,717,646
-292,613
-3% -$22.4M
CRM icon
6
Salesforce
CRM
$134B
$720M 7.7%
3,039,568
+975,724
+47% +$246M
TMO icon
7
Thermo Fisher Scientific
TMO
$211B
$591M 6.31%
1,218,105
-45,342
-4% -$21.1M
GOOGL icon
8
Alphabet (Google) Class A
GOOGL
$3.91T
$555M 5.93%
2,284,192
-2,463,351
-52% -$516M
BDX icon
9
Becton Dickinson
BDX
$43.1B
$553M 5.91%
2,954,898
+852,854
+41% +$158M
CHTR icon
10
Charter Communications
CHTR
$14.7B
$425M 4.54%
1,544,527
-45,895
-3% -$13.9M
MA icon
11
Mastercard
MA
$477B
$378M 4.04%
664,248
-30,964
-4% -$17.8M
ICE icon
12
Intercontinental Exchange
ICE
$82.4B
$346M 3.7%
2,054,294
-105,744
-5% -$18.9M
ELV icon
13
Elevance Health
ELV
$81.9B
$292M 3.12%
902,900
-10,458
-1% -$3.25M
ZTS icon
14
Zoetis
ZTS
$31.6B
$261M 2.79%
1,786,297
-39,652
-2% -$5.99M
BIO icon
15
Bio-Rad Laboratories Class A
BIO
$8.42B
$237M 2.53%
844,039
-19,102
-2% -$5.2M
WAT icon
16
Waters Corp
WAT
$36.8B
$175M 1.87%
+584,770
New +$176M
SCHW
17
Charles Schwab
SCHW
$177B
$142M 1.52%
1,488,189
-734,822
-33% -$69.7M
FUTU icon
18
Futu Holdings
FUTU
$13.9B
$73.2M 0.78%
420,857
+122,207
+41% +$20.3M
H icon
19
Hyatt Hotels
H
$17.6B
$29.1M 0.31%
+204,801
New +$29.4M
MDT icon
20
Medtronic
MDT
$107B
$17.2M 0.18%
181,007
– –
PM icon
21
Philip Morris
PM
$301B
$10.9M 0.12%
67,036
-5,347
-7% -$900K
HLT icon
22
Hilton Worldwide
HLT
$74B
$8.86M 0.09%
34,159
-614,032
-95% -$166M
MSM icon
23
MSC Industrial Direct
MSM
$7.02B
$8.71M 0.09%
94,539
– –
HDB icon
24
HDFC Bank
HDB
$119B
$7.66M 0.08%
224,364
-47,588
-17% -$1.75M
NTES icon
25
NetEase
NTES
$76.5B
$6.61M 0.07%
43,463
-11,606
-21% -$1.6M
1
2

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Veritas Asset Management's Q3 2025 Portfolio in Review

As of Q3 2025, Veritas Asset Management held 36 positions worth $9.36B, down 6.4% from $10B the previous quarter. Its ten largest holdings account for 79% of the portfolio.

Veritas Asset Management withdrew a net $751M in Q3 2025, closing 6 positions and reducing 18 holdings. Its most notable exit was Coupang, an estimated $15.4M position sold in full.

By sector, the portfolio is most concentrated in Healthcare at 33% of assets, up from 27% a quarter earlier, followed by Technology and Financials.

Against the trend, Veritas Asset Management opened a new position in Waters Corp worth $175M.

  • Veritas Asset Management's largest Q3 2025 buy was Waters Corp: 584,770 shares worth $175M.
  • Veritas Asset Management added most to Salesforce in Q3 2025, an estimated $246M increase.
  • Veritas Asset Management's biggest Q3 2025 reduction was Alphabet (Google) Class A, cutting an estimated $516M.
  • Veritas Asset Management fully exited Coupang in Q3 2025, selling an estimated $15.4M.
  • Veritas Asset Management's ten largest holdings make up 79% of its $9.36B portfolio in Q3 2025.
  • Veritas Asset Management opened 2 new positions and closed 6 in Q3 2025.
  • Veritas Asset Management's portfolio value fell 6.4% quarter-over-quarter to $9.36B.

Based on Veritas Asset Management's 13F filing for Q3 2025, filed 4 Nov 2025.