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Veritas Asset Management LLP

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13F filer, CIK 1541448, London, United Kingdom

Veritas Asset Management LLP reported $9,900,627,885 across 35 holdings for the quarter ended 2025-03-31, in a 13F-HR filed 2025-05-15. Its ten largest share positions make up 75.44% of the portfolio.

Filed (acceptance time not in the bulk data set), ingested 13F-HR 0001172661-25-002100

Period
2025-03-31
Reported value
$9.9B
Holdings
35
Top 10 weight
75.44%
New
2
Sold out
2

Largest buys vs the previous quarter

SecurityShares changeApprox. value
MSFTadded+891,839$335M
TMOadded+305,893$152M
UNHadded+31,787$16.6M
TCOMnew+13,568$863K
VNETnew+50,306$413K

Ranked by the share change valued at this quarter's implied price (value over shares in the 13F). A position sold out is valued at the previous quarter's price, its last report.

Largest sells vs the previous quarter

SecurityShares changeApprox. value
GOOGLreduced-1,217,328-$188M
AONreduced-380,951-$152M
ICEreduced-852,643-$147M
CRMreduced-292,074-$78.4M
MAreduced-131,016-$71.8M

Ranked by the share change valued at this quarter's implied price (value over shares in the 13F). A position sold out is valued at the previous quarter's price, its last report.

Holdings, Q1 2025

Share positions as resolved from 13F-HR 0001172661-25-002100, largest first. % of portfolio is the value over $9,900,627,885, the sum of the share positions whose value is usable for ratios (method).

SecurityHistorySharesValue% of portfolioChangeLatest eventTimeline
MSFTMICROSOFT CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 2,230,108 shares; 2024Q4: 2,010,982 shares; 2025Q1: 2,902,821 shares 2,902,821$1.09B11.01%+891,839Timeline
AMZNAMAZON COM INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 7,742,823 shares; 2024Q4: 5,257,561 shares; 2025Q1: 5,002,919 shares 5,002,919$952M9.61%-254,642Timeline
UNHUNITEDHEALTH GROUP INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 1,759,015 shares; 2024Q4: 1,547,220 shares; 2025Q1: 1,579,007 shares 1,579,007$827M8.35%+31,787Timeline
GOOGLALPHABET INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 9,300,950 shares; 2024Q4: 6,160,305 shares; 2025Q1: 4,942,977 shares 4,942,977$764M7.72%-1,217,328Timeline
CPCANADIAN PACIFIC KANSAS CITYQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 12,208,139 shares; 2024Q4: 11,189,446 shares; 2025Q1: 10,638,175 shares 10,638,175$747M7.54%-551,271Timeline
AONAON PLCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 3,010,557 shares; 2024Q4: 2,220,648 shares; 2025Q1: 1,839,697 shares 1,839,697$734M7.42%-380,951Timeline
TMOTHERMO FISHER SCIENTIFIC INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 1,130,476 shares; 2024Q4: 1,027,159 shares; 2025Q1: 1,333,052 shares 1,333,052$663M6.7%+305,893Timeline
CHTRCHARTER COMMUNICATIONS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 2,006,085 shares; 2024Q4: 1,800,378 shares; 2025Q1: 1,675,255 shares 1,675,255$617M6.24%-125,123Timeline
CRMSALESFORCE INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 2,680,957 shares; 2024Q4: 2,432,713 shares; 2025Q1: 2,140,639 shares 2,140,639$574M5.8%-292,074Timeline
ICEINTERCONTINENTAL EXCHANGE INQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 4,224,195 shares; 2024Q4: 3,750,592 shares; 2025Q1: 2,897,949 shares 2,897,949$500M5.05%-852,643Timeline
BDXBECTON DICKINSON & COQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 2,295,205 shares; 2024Q4: 2,057,554 shares; 2025Q1: 1,927,090 shares 1,927,090$441M4.46%-130,464Timeline
ELVELEVANCE HEALTH INC FORMERLYQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 1,097,778 shares; 2024Q4: 986,738 shares; 2025Q1: 952,903 shares 952,903$414M4.19%-33,835Timeline
MAMASTERCARD INCORPORATEDQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 1,446,272 shares; 2024Q4: 867,937 shares; 2025Q1: 736,921 shares 736,921$404M4.08%-131,016Timeline
COOCOOPER COS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 4,409,878 shares; 2024Q4: 4,054,818 shares; 2025Q1: 3,847,698 shares 3,847,698$325M3.28%-207,120Timeline
ZTSZOETIS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 2,297,522 shares; 2024Q4: 1,972,680 shares; 2025Q1: 1,873,922 shares 1,873,922$309M3.12%-98,758Timeline
BIOBIO RAD LABS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 1,086,479 shares; 2024Q4: 976,827 shares; 2025Q1: 913,122 shares 913,122$222M2.25%-63,705Timeline
SCHWCHARLES SCHWAB CORP (THE)Quarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: 2,508,436 shares; 2025Q1: 2,293,473 shares 2,293,473$180M1.81%-214,963Timeline
FUTUFUTU HLDGS LTDQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 413,459 shares; 2024Q4: 301,644 shares; 2025Q1: 298,650 shares 298,650$30.6M0.31%-2,994Timeline
TMETENCENT MUSIC ENTMT GROUPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 2,087,245 shares; 2024Q4: 3,017,695 shares; 2025Q1: 1,507,402 shares 1,507,402$21.7M0.22%-1,510,293Timeline
MDTMEDTRONIC PLCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 181,007 shares; 2024Q4: 181,007 shares; 2025Q1: 181,007 shares 181,007$16.3M0.16%0Timeline
PMPHILIP MORRIS INTL INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 101,545 shares; 2024Q4: 101,545 shares; 2025Q1: 86,784 shares 86,784$13.8M0.14%-14,761Timeline
FNVFRANCO NEV CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 78,269 shares; 2024Q4: 72,266 shares; 2025Q1: 72,266 shares 72,266$11.4M0.12%0Timeline
HDBHDFC BANK LTDQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 155,817 shares; 2024Q4: 155,817 shares; 2025Q1: 150,926 shares 150,926$10M0.1%-4,891Timeline
MSMMSC INDL DIRECT INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 116,681 shares; 2024Q4: 116,681 shares; 2025Q1: 116,681 shares 116,681$9.06M0.09%0Timeline
CTSHCOGNIZANT TECHNOLOGY SOLUTIOQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 115,295 shares; 2024Q4: 115,295 shares; 2025Q1: 115,295 shares 115,295$8.82M0.09%0Timeline
NTESNETEASE COM INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 55,069 shares; 2024Q4: 55,069 shares; 2025Q1: 55,069 shares 55,069$5.67M0.06%0Timeline
PDDPDD HOLDINGS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 25,715 shares; 2024Q4: 23,791 shares; 2025Q1: 22,506 shares 22,506$2.66M0.03%-1,285Timeline
TSMTAIWAN SEMICONDUCTOR MANUFACQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 17,302 shares; 2024Q4: 9,960 shares; 2025Q1: 9,960 shares 9,960$1.65M0.02%0Timeline
YMMFULL TRUCK ALLIANCE CO LTDQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: 72,884 shares; 2025Q1: 99,006 shares 99,006$1.26M0.01%+26,122Timeline
JDJD.COM INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 741,055 shares; 2024Q4: 24,099 shares; 2025Q1: 22,792 shares 22,792$937K0.01%-1,307Timeline
TCOMTRIP COM GROUP LTDQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 15,807 shares; 2024Q4: not reported; 2025Q1: 13,568 shares 13,568$863K0.01%newTimeline
BEKEKE HLDGS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: 29,702 shares; 2025Q1: 28,091 shares 28,091$564K0.01%-1,611Timeline
TALTAL ED GROUPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: 43,076 shares; 2025Q1: 40,746 shares 40,746$538K0.01%-2,330Timeline
IBNICICI BK LTDQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 429,919 shares; 2024Q4: 429,919 shares; 2025Q1: 15,424 shares 15,424$486K<0.01%-414,495Timeline
VNETVNET GROUP INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 50,306 shares 50,306$413K<0.01%newTimeline

Sold out in Q1 2025

Positions in the previous quarter's report that this quarter's report no longer lists.

SecurityShares beforeValue beforeType
ADPAUTOMATIC DATA PROCESSING IN26,791$7.84Mshares
EDUNEW ORIENTAL ED & TECHNOLOGY26,038$1.67Mshares

How Q1 2025 was built

Available 13F filings of this filer for the quarter and their roles: the base report is the latest original or restatement, NEW HOLDINGS amendments filed after it are added (method).

FilingRoleAmendmentFiledAcceptedIngested
13F-HR 0001172661-25-002100 base2025-05-15acceptance time not in the bulk data set