Veritas Investment Management LLP

CIK

1576707

Location

LONDON, X0

Portfolio Value

Mid $1,510,669,261

Diversification

Diversified

Reports for

Veritas Investment Management (UK) Ltd

Filing Date

Global Rank

#1,049 / 5,416 ▲ 11 · as of Sep 2020

Top Industry

Software - Infrastructure 11.7%

Period ended 6 years ago

Filed Nov 2, 2020 · 6y

3 quarters · since Mar 2020

Regulatory profile

From Form ADV, the SEC filer profile, 13D/13G type codes and N-CEN, never from the name.

Holder type

Unknown

Portfolio style

Measured from the filed 13F common-share book for Sep 30, 2020, never from the firm's own description.

Style

Concentrated

The top 10 positions are 74.2% of the book (60%+)

Turnover

Turnover unknown

It needs four straight quarters of measured turnover

Horizon

Horizon unknown

The value-weighted holding period is at least 3.0 quarters, but 100.0% of the book was already held when coverage starts

Closest benchmark: the Nasdaq-100 as of 2020-09-30, active share 81.1%; sector active share 34.9% against the combined 13F book's sector weights.

Over time 3 measured quarters

How the bands are measured

Style bands measure the filed 13F common-share book each closed quarter, tested in this order. Unknown: under $10,000,000 of valued equity or 5 stocks. Index-like (100+ stocks): active share of 20% or less against the closest benchmark, which is the S&P 500, S&P MidCap 400, S&P SmallCap 600, Russell 1000, Russell 2000, Nasdaq-100 or Dow Jones Industrial Average (weighted by an index-tracking fund's reported holdings or the index's constituents nearest the quarter end, over the names resolved to companies, and only when those are 90%+ of its weight) or every 13F filer's combined book, or index series holding 80%+ of the registered fund assets it advises (N-CEN) and equal to 50%+ of its book. Systematic-like: 500+ stocks, 100%+ annual turnover and a top 10 weight of 25% or less. Concentrated: a top 10 weight of 60%+ or 12 or fewer effective positions. Diversified active: none of these. Turnover is the smaller of buys and sells over average equity value, summed over four quarters: low under 30%, high 100%+. Horizon is the value-weighted number of quarters each position has been held: short under 4, long 12+.

Clone Performance

Build a hypothetical price-return history from this filer's public 13F holdings.

View clone backtest

Portfolio Concentration

59 tracked positions · as of Sep 30, 2020 · Δ vs Jun 30, 2020

Top Position

10.1%

−1.2 pts

Top 5

46.6%

−1.0 pts

Top 10

74.2%

−1.8 pts

HHI

696

Diversified−28

Portfolio Trend

3 quarters · across all stocks

Sector Breakdown

As of Sep 30, 2020

Sector	% Portfolio	Value	Positions
Healthcare	24.4%	$368,605,654	8
Technology	19.5%	$294,286,351	8
Consumer Cyclical	15.6%	$236,188,334	10
Financial Services	15.2%	$229,142,342	11
Unclassified	13.9%	$210,613,573	3
Communication Services	6.5%	$98,914,554	5
Industrials	4.6%	$69,133,765	5
Consumer Defensive	0.2%	$2,542,733	6
Basic Materials	0.0%	$659,072	1
Utilities	0.0%	$492,252	1
Energy	0.0%	$90,631	1

Last Quarter's Activity

Export CSV

Sep 30, 2020 vs Jun 30, 2020

Added To

Positions the filer increased

12 positions

Ticker	Company	Δ Shares	Shares	Value
MRSH	Marsh & Mclennan Companies, Inc.	+627,150	627,650	$71,991,455
FISV	Fiserv Inc	+117,643	822,975	$84,807,573
—		+92,570	1,737,900	$125,589,000
ADP	Automatic Data Processing Inc	+14,310	467,775	$65,249,934
AAPL	Apple Inc.	+14,044	19,475	$2,255,399
AVY	Avery Dennison Corp	+13,934	527,950	$67,493,128
HAS	Hasbro, Inc.	+12,905	994,298	$82,248,330
UNH	Unitedhealth Group Inc	+5,760	485,729	$151,435,730
APH	Amphenol Corp	+3,752	660,328	$71,493,448
AXP	American Express Co	+2,690	5,690	$570,422
MCO	Moodys Corp	+955	1,220	$353,617
TSLA	Tesla, Inc.	+26	40	$17,160
No positions match the current search.

Trimmed

Positions the filer reduced

23 positions

Ticker	Company	Δ Shares	Shares	Value
BRK-B	Berkshire Hathaway Inc	−303,139	123,914	$26,386,247
MSFT	Microsoft Corp	−31,716	722,599	$151,984,247
ALGN	Align Technology Inc	−26,130	202,615	$66,328,046
TMO	Thermo Fisher Scientific Inc.	−20,965	337,707	$149,104,394
MA	Mastercard Inc	−8,613	371,517	$125,635,903
HON	Honeywell International Inc	−5,719	270	$44,444
XYL	Xylem Inc.	−1,914	817,246	$68,746,733
TSCO	Tractor Supply Co	−1,590	562,160	$80,580,014
KEY	Keycorp	−1,244	22,168	$264,464
MDLZ	Mondelez International, Inc.	−750	764	$43,891
V	Visa Inc.	−496	8,744	$1,748,537
PYPL	PayPal Holdings, Inc.	−400	6,210	$1,223,556
WEC	Wec Energy Group, Inc.	−300	5,080	$492,252
RTX	RTX Corp	−300	1,975	$113,641
ADBE	Adobe Inc.	−224	1,928	$945,549
COST	Costco Wholesale Corp	−200	3,097	$1,099,435
DG	Dollar General Corp	−200	3,550	$744,151
META	Meta Platforms, Inc.	−200	2,673	$700,058
GOOG	Alphabet Inc.	−198	33,369	$49,013,000
OTIS	Otis Worldwide Corp	−150	987	$61,608
GOOGL	Alphabet Inc.	−86	33,403	$48,955,436
INTU	Intuit Inc.	−80	6,382	$2,081,872
AMZN	Amazon Com Inc	−22	931	$2,931,467
No positions match the current search.

New Positions

Positions the filer opened this quarter

1 positions

Ticker	Company	Shares	Value	Open
SPGI	S&P Global Inc.	805	$290,282
No positions match the current search.

Sold Out

Positions the filer fully exited

5 positions

Ticker	Company	Shares	Value
KO	Coca Cola Co	5,615	$250,878
—		2,732	$207,000
BAC	Bank Of America Corp	6,800	$161,500
PFE	Pfizer Inc	3,600	$117,720
BR	Broadridge Financial Solutions, Inc.	911	$114,959
No positions match the current search.

Portfolio Positions

Compact Export CSV View 13F filing

59 tracked positions · $1,510,669,261 total · filing declares 60 positions · $1,645,822,000 · as of Sep 30, 2020

All sectors Basic Materials Communication Services Consumer Cyclical Consumer Defensive Energy Financial Services Healthcare Industrials Technology Utilities

Showing 1–50 of 59 positions by value · page 1 of 2

Ticker	Company	Type	Shares	Δ Shares	Value (USD)	% Δ Value	Held (qtrs)	Est. cost/share	% of Portfolio
MSFT	Microsoft Corp Technology	Reduced	722,599	-31,716	$151,984,247	−1.0%	3+	before history	10.06%
UNH	Unitedhealth Group Inc Healthcare	Added	485,729	+5,760	$151,435,730	+7.0%	3+	before history	10.02%
TMO	Thermo Fisher Scientific Inc. Healthcare	Reduced	337,707	-20,965	$149,104,394	+14.7%	3+	before history	9.87%
MA	Mastercard Inc Financial Services	Reduced	371,517	-8,613	$125,635,903	+11.8%	3+	before history	8.32%
		Added	1,737,900	+92,570	$125,589,000	+11.4%	3+	before history	8.31%
FISV	Fiserv Inc	Added	822,975	+117,643	$84,807,573	+23.2%	3+	before history	5.61%
HAS	Hasbro, Inc. Consumer Cyclical	Added	994,298	+12,905	$82,248,330	+11.8%	3+	before history	5.44%
TSCO	Tractor Supply Co Consumer Cyclical	Reduced	562,160	-1,590	$80,580,014	+8.5%	3+	before history	5.33%
MRSH	Marsh & Mclennan Companies, Inc. Financial Services	Added	627,650	+627,150	$71,991,455	+133999.8%	3+	before history	4.77%
APH	Amphenol Corp Technology	Added	660,328	+3,752	$71,493,448	+13.7%	3+	before history	4.73%
XYL	Xylem Inc. Industrials	Reduced	817,246	-1,914	$68,746,733	+29.2%	3+	before history	4.55%
AVY	Avery Dennison Corp Consumer Cyclical	Added	527,950	+13,934	$67,493,128	+15.1%	3+	before history	4.47%
ALGN	Align Technology Inc Healthcare	Reduced	202,615	-26,130	$66,328,046	+5.7%	3+	before history	4.39%
ADP	Automatic Data Processing Inc Technology	Added	467,775	+14,310	$65,249,934	−3.4%	3+	before history	4.32%
GOOG	Alphabet Inc. Communication Services	Reduced	33,369	-198	$49,013,000	+3.3%	3+	before history	3.24%
GOOGL	Alphabet Inc. Communication Services	Reduced	33,403	-86	$48,955,436	+3.1%	3+	before history	3.24%
BRK-B	Berkshire Hathaway Inc Financial Services	Reduced	123,914	-303,139	$26,386,247	−65.4%	3+	before history	1.75%
AMZN	Amazon Com Inc Consumer Cyclical	Reduced	931	-22	$2,931,467	+11.5%	3+	before history	0.19%
AAPL	Apple Inc. Technology	Added	19,475	+14,044	$2,255,399	+13.8%	3+	before history	0.15%
INTU	Intuit Inc. Technology	Reduced	6,382	-80	$2,081,872	+8.8%	3+	before history	0.14%
V	Visa Inc. Financial Services	Reduced	8,744	-496	$1,748,537	−2.0%	3+	before history	0.12%
NKE	NIKE, Inc. Consumer Cyclical	Held	10,679	0	$1,340,641	+28.0%	3+	before history	0.09%
PYPL	PayPal Holdings, Inc. Financial Services	Reduced	6,210	-400	$1,223,556	+6.2%	3+	before history	0.08%
MCD	Mcdonalds Corp Consumer Cyclical	Held	5,475	0	$1,201,707	+19.0%	3+	before history	0.08%
COST	Costco Wholesale Corp Consumer Defensive	Reduced	3,097	-200	$1,099,435	+10.0%	3+	before history	0.07%
ADBE	Adobe Inc. Technology	Reduced	1,928	-224	$945,549	+0.9%	3+	before history	0.06%
DG	Dollar General Corp Consumer Defensive	Reduced	3,550	-200	$744,151	+4.2%	3+	before history	0.05%
META	Meta Platforms, Inc. Communication Services	Reduced	2,673	-200	$700,058	+7.3%	3+	before history	0.05%
ECL	Ecolab Inc. Basic Materials	Held	3,298	0	$659,072	+0.4%	3+	before history	0.04%
ILMN	Illumina, Inc. Healthcare	Held	1,925	0	$594,979	−16.5%	3+	before history	0.04%
AXP	American Express Co Financial Services	Added	5,690	+2,690	$570,422	+99.7%	3+	before history	0.04%
WEC	Wec Energy Group, Inc. Utilities	Reduced	5,080	-300	$492,252	+4.4%	3+	before history	0.03%
JNJ	Johnson & Johnson Healthcare	Held	3,200	0	$476,416	+5.9%	3+	before history	0.03%
ABT	Abbott Laboratories Healthcare	Held	3,628	0	$394,835	+19.0%	3+	before history	0.03%
NTRS	Northern Trust Corp Financial Services	Held	5,000	0	$389,850	−1.7%	3+	before history	0.03%
MCO	Moodys Corp Financial Services	Added	1,220	+955	$353,617	+385.7%	3+	before history	0.02%
PM	Philip Morris International Inc. Consumer Defensive	Held	4,500	0	$337,455	+7.0%	3+	before history	0.02%
SPGI	S&P Global Inc. Financial Services	NEW	805	NEW	$290,282	NEW	1	unpriced	0.02%
BNY	Bank of New York Mellon Corp Financial Services	Held	8,387	0	$288,009	−11.2%	3+	before history	0.02%
KEY	Keycorp Financial Services	Reduced	22,168	-1,244	$264,464	−7.3%	3+	before history	0.02%
		Held	417	0	$217,000	+6.4%	3+	before history	0.01%
EL	Estee Lauder Companies Inc Consumer Defensive	Held	925	0	$201,881	+15.7%	3+	before history	0.01%
HD	Home Depot, Inc. Consumer Cyclical	Held	705	0	$195,785	+10.9%	3+	before history	0.01%
EBAY	Ebay Inc Consumer Cyclical	Held	3,275	0	$170,627	−0.7%	3+	before history	0.01%
UNP	Union Pacific Corp Industrials	Held	850	0	$167,339	+16.4%	3+	before history	0.01%
PAYX	Paychex Inc Technology	Held	2,000	0	$159,540	+5.3%	3+	before history	0.01%
DIS	Walt Disney Co Communication Services	Held	1,250	0	$155,100	+11.3%	3+	before history	0.01%
CVS	CVS HEALTH Corp Healthcare	Held	2,545	0	$148,628	−10.1%	3+	before history	0.01%
ABBV	AbbVie Inc. Healthcare	Held	1,400	0	$122,626	−10.8%	3+	before history	0.01%
NVDA	Nvidia Corp Technology	Held	215	0	$116,362	+42.5%	3+	before history	0.01%

Showing the top 50 of 59 positions. Create a free account to see every position, past quarters, search, filters and CSV export.

Covers the securities this platform tracks: U.S.-listed common stock and the put/call positions reported on it. A 13F can also report security types outside that coverage — preferred shares, bonds, warrants, untracked share classes — so the filing's own declared total can exceed the figures above. The source filing is linked at the top of this table.