Veritas Asset Management 13F, Q4 2025
Veritas Asset Management · quarter ending 31 December 2025 · filed 17 February 2026 · SEC CIK 1541448
Common stock only: shares the fund reported owning at the quarter end, valued as filed.
Largest positions, Q4 2025
The 25 largest of 27 positions. Weights are against the whole filed book. Changes are in shares held, against the Q3 2025 filing.
| Company | Ticker | Value | % of book | vs Q3 2025 |
|---|---|---|---|---|
| AMAZON COM INC | AMZN | $1.01B | 10.3% | -5% shares |
| MICROSOFT CORP | MSFT | $1.01B | 10.3% | -4% shares |
| UNITEDHEALTH GROUP INC | UNH | $836.05M | 8.6% | -5% shares |
| SALESFORCE INC | CRM | $785.47M | 8.0% | -3% shares |
| AON PLC | $703.10M | 7.2% | -3% shares | |
| CANADIAN PACIFIC KANSAS CITY | CP | $688.03M | 7.0% | -4% shares |
| THERMO FISHER SCIENTIFIC INC | TMO | $657.02M | 6.7% | -7% shares |
| ALPHABET INC | GOOGL | $574.91M | 5.9% | -20% shares |
| BECTON DICKINSON & CO | BDX | $557.87M | 5.7% | -3% shares |
| WATERS CORP | WAT | $471.45M | 4.8% | +112% shares |
| INTERCONTINENTAL EXCHANGE IN | ICE | $464.42M | 4.8% | +40% shares |
| MASTERCARD INCORPORATED | MA | $449.77M | 4.6% | +19% shares |
| CHARTER COMMUNICATIONS INC N | CHTR | $317.54M | 3.3% | unchanged |
| ELEVANCE HEALTH INC FORMERLY | ELV | $306.38M | 3.1% | -3% shares |
| HYATT HOTELS CORP | H | $304.67M | 3.1% | +828% shares |
| ZOETIS INC | ZTS | $221.70M | 2.3% | unchanged |
| TRANSDIGM GROUP INC | TDG | $188.63M | 1.9% | new |
| BIO RAD LABS INC | BIO | $164.63M | 1.7% | -36% shares |
| MEDTRONIC PLC | $17.39M | 0.2% | unchanged | |
| PHILIP MORRIS INTL INC | PM | $10.75M | 0.1% | unchanged |
| HDFC BANK LTD | HDB | $8.20M | 0.1% | unchanged |
| MSC INDL DIRECT INC | MSM | $7.95M | 0.1% | unchanged |
| COGNIZANT TECHNOLOGY SOLUTIO | CTSH | $6.48M | 0.1% | unchanged |
| NETEASE INC | NTES | $4.54M | 0.1% | -24% shares |
| SEA LTD | SE | $2.92M | 0.0% | new |
What changed since Q3 2025
Against the Q3 2025 filing, Veritas Asset Management opened 2 new positions, added to 4, trimmed 13, left 8 unchanged and exited 5. Every position is compared, matched on its CUSIP; a change of 2% or less in shares counts as unchanged.
Other quarters
Source: SEC Form 13F-HR, accession 0001172661-26-000924, filed by Veritas Asset Management LLP. Values are as filed and cover US-listed positions only; a 13F does not show short positions or holdings outside the US. A 13F may be filed up to 45 days after the quarter ends, so the fund may have traded since. Educational information, not financial advice.