# Veritas Investment Management (UK) Ltd

> Institutional holdings reported to the SEC as of Q4 2021 on Form 13F. CIK 1577920. Source: https://holderbook.com/funds/1577920-veritas-investment-management-uk-ltd/

- Reported value: $647.8M
- Positions: 35
- Weight of the ten largest: 58.5%
- Filed: 2022-02-11

A 13F reports long US equity positions only. Short positions, bonds, foreign listings, private holdings and cash are not visible, so this is not the manager's whole book.

## Holdings

| Security | Ticker | Value | Shares | Weight | Quarters held |
|---|---|---|---|---|---|
| UNITEDHEALTH GROUP INC | [UNH](https://holderbook.com/stocks/UNH/) | $49.8M | 99,122 | 7.7% | 13 |
| THERMO FISHER SCIENTIFIC INC | [TMO](https://holderbook.com/stocks/TMO/) | $44.5M | 66,719 | 6.9% | 13 |
| LABORATORY CORP AMER HLDGS | [LH](https://holderbook.com/stocks/LH/) | $39.9M | 126,965 | 6.2% | 13 |
| ACCENTURE PLC IRELAND | [ACN](https://holderbook.com/stocks/ACN/) | $39.0M | 94,026 | 6.0% | 13 |
| FRANCO NEV CORP | [FNV](https://holderbook.com/stocks/FNV/) | $38.6M | 220,601 | 6.0% | 13 |
| CERNER CORP | [CERN](https://holderbook.com/stocks/CERN/) | $37.5M | 404,074 | 5.8% | 13 |
| MASTERCARD INCORPORATED | [MA](https://holderbook.com/stocks/MA/) | $33.4M | 92,977 | 5.2% | 13 |
| TRACTOR SUPPLY CO | [TSCO](https://holderbook.com/stocks/TSCO/) | $32.9M | 138,060 | 5.1% | 8 |
| MICROSOFT CORP | [MSFT](https://holderbook.com/stocks/MSFT/) | $32.7M | 97,309 | 5.1% | 13 |
| MARSH & MCLENNAN COS INC | [MRSH](https://holderbook.com/stocks/MRSH/) | $30.9M | 177,594 | 4.8% | 6 |
| FISERV INC | [FISV](https://holderbook.com/stocks/FISV/) | $28.4M | 273,695 | 4.4% | 13 |
| HASBRO INC | [HAS](https://holderbook.com/stocks/HAS/) | $26.8M | 263,029 | 4.1% | 11 |
| AUTOMATIC DATA PROCESSING IN | [ADP](https://holderbook.com/stocks/ADP/) | $25.9M | 105,053 | 4.0% | 8 |
| BROADRIDGE FINL SOLUTIONS IN | [BR](https://holderbook.com/stocks/BR/) | $22.9M | 125,360 | 3.5% | 4 |
| AMPHENOL CORP | [APH](https://holderbook.com/stocks/APH/) | $22.0M | 251,890 | 3.4% | 12 |
| SYNOPSYS INC | [SNPS](https://holderbook.com/stocks/SNPS/) | $21.2M | 57,560 | 3.3% | 3 |
| AVERY DENNISON CORP | [AVY](https://holderbook.com/stocks/AVY/) | $20.4M | 94,101 | 3.1% | 12 |
| TAIWAN SEMICONDUCTOR MANUFAC | [TSM](https://holderbook.com/stocks/TSM/) | $20.0M | 166,567 | 3.1% | 13 |
| ALIGN TECHNOLOGY INC | [ALGN](https://holderbook.com/stocks/ALGN/) | $18.2M | 27,673 | 2.8% | 9 |
| INTUIT | [INTU](https://holderbook.com/stocks/INTU/) | $17.5M | 27,181 | 2.7% | 4 |
| AMAZON COM INC | [AMZN](https://holderbook.com/stocks/AMZN/) | $14.3M | 4,279 | 2.2% | 13 |
| ALPHABET INC | [GOOG](https://holderbook.com/stocks/GOOG/) | $14.0M | 4,850 | 2.2% | 13 |
| ALPHABET INC | [GOOGL](https://holderbook.com/stocks/GOOGL/) | $7.7M | 2,668 | 1.2% | 13 |
| BERKSHIRE HATHAWAY INC DEL | [BRKB](https://holderbook.com/stocks/BRKB/) | $5.0M | 16,886 | 0.8% | 13 |
| JARDINE MATHESON HOLDINGS | - | $1.8M | 32,600 | 0.3% | 13 |
| APPLE INC | [AAPL](https://holderbook.com/stocks/AAPL/) | $671.0K | 3,779 | 0.1% | 13 |
| BANK OF AMER CORP | [BAC](https://holderbook.com/stocks/BAC/) | $556.0K | 12,500 | 0.1% | 3 |
| HCA HEALTHCARE INC | [HCA](https://holderbook.com/stocks/HCA/) | $411.0K | 1,600 | 0.1% | 3 |
| BROOKFIELD ASSET MGMT INC | [BAMXXXX](https://holderbook.com/stocks/BAMXXXX/) | $330.0K | 4,326 | 0.1% | 13 |
| MEDTRONIC PLC | [MDT](https://holderbook.com/stocks/MDT/) | $182.0K | 1,761 | 0.0% | 3 |
| ALTRIA GROUP INC | [MO](https://holderbook.com/stocks/MO/) | $71.0K | 1,500 | 0.0% | 13 |
| JPMORGAN CHASE & CO | [JPM](https://holderbook.com/stocks/JPM/) | $60.0K | 380 | 0.0% | 13 |
| CHUBB LIMITED | [CB](https://holderbook.com/stocks/CB/) | $21.0K | 108 | 0.0% | 13 |
| WELLS FARGO & CO | [WFC](https://holderbook.com/stocks/WFC/) | $17.0K | 350 | 0.0% | 13 |
| BROOKFIELD BUSINESS PARTNERS | [BBU](https://holderbook.com/stocks/BBU/) | $3.0K | 57 | 0.0% | 13 |

## What the disclosed book did

Not the fund's return. This is the change in value of the positions disclosed on Form 13F, had they been left untouched, against SPY over the same quarter ends.

| Quarter | Book | Market | Difference | Priced |
|---|---|---|---|---|
| Q4 2021 | +15.1% | +10.7% | +4.4% | 99% |
| Q3 2021 | +1.8% | +0.3% | +1.5% | 99% |
| Q2 2021 | +8.0% | +8.0% | -0.0% | 98% |
| Q1 2021 | +6.7% | +6.0% | +0.7% | 95% |
| Q4 2020 | +12.8% | +11.6% | +1.1% | 97% |
| Q3 2020 | +10.9% | +8.6% | +2.3% | 96% |
| Q2 2020 | +22.5% | +19.6% | +2.8% | 93% |
| Q1 2020 | -17.2% | -19.9% | +2.7% | 93% |

## Quarter by quarter

| Quarter | Value | Positions |
|---|---|---|
| Q4 2021 | $647.8M | 35 |
| Q3 2021 | $609.2M | 40 |
| Q2 2021 | $606.9M | 44 |
| Q1 2021 | $536.2M | 34 |
| Q4 2020 | $519.5M | 33 |
| Q3 2020 | $445.5M | 33 |
| Q2 2020 | $413.9M | 32 |
| Q1 2020 | $331.4M | 34 |
| Q4 2019 | $397.9M | 37 |
| Q3 2019 | $362.4M | 34 |
| Q2 2019 | $352.2M | 35 |
| Q1 2019 | $322.3M | 35 |