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Veritas Asset Management LLP
Andy Headley · Asset Manager · Value
Veritas Asset Management LLP is a London-based investment management firm founded in 2003, specializing in global and Asian equities. An affiliate of Affiliated Managers Group since 2014, the firm operates with a partnership structure and manages assets for institutional and retail clients worldwide. Veritas is distinguished by its 'Veritas Real Return Approach,' which prioritizes protecting and growing the real purchasing power of capital over the long term rather than following traditional relative benchmarks. The firm utilizes a high-conviction, fundamental research-driven process to identify high-quality companies with sustainable business models and robust barriers to entry. By maintaining a concentrated portfolio and focusing on absolute valuations, Veritas aims to generate superior risk-adjusted returns with a typical investment horizon of five years or more. Headquartered in London, the firm also maintains an office in Hong Kong to support its Asian investment strategies.
Simulated Performance
| Metric | Value |
|---|---|
| Total return | +3.1% |
| YTD return | +1.5% |
| Sharpe ratio | -0.91 |
| Win rate | 43% |
| AUM | $6.9B |
| Inception | Oct 1, 2025 |
| Updated | Sep 21, 2026 |
Institution Status
| Field | Value |
|---|---|
| AUM | $6.9B |
| Turnover | Low (<15%) |
| Avg holding | 18 Months |
| Inception | Oct 1, 2025 |
| Website | https://www.vamllp.com |
Current Holdings
Updated on Sep 21, 2026.
| Ticker | Name | Portfolio % | Return |
|---|---|---|---|
| AMZN | Amazon.com Inc | 9.2% | +15.9% |
| MSFT | Microsoft Corporation | 8.2% | +1.5% |
| MA | Mastercard Inc | 8.1% | +7.0% |
| TMO | Thermo Fisher Scientific Inc | 7.5% | +23.3% |
| AON | Aon PLC | 7.3% | -17.9% |
| DEO | Diageo PLC ADR | 6.6% | -4.6% |
| TSM | Taiwan Semiconductor Manufacturing | 6.5% | +9.6% |
| UNH | UnitedHealth Group Incorporated | 6.4% | +10.0% |
| WAT | Waters Corporation | 5.0% | +27.2% |
| SPGI | S&P Global Inc | 4.9% | -0.9% |
| ICE | Intercontinental Exchange Inc | 4.4% | -2.4% |
| VMC | Vulcan Materials Company | 4.3% | -13.5% |
| CMPGY | Compass Group PLC ADR | 4.1% | -0.0% |
| BDX | Becton Dickinson and Company | 3.5% | -1.9% |
| H | Hyatt Hotels Corporation | 3.4% | -8.0% |
| SYK | Stryker Corporation | 2.6% | -19.1% |
| TDG | Transdigm Group Incorporated | 2.4% | -6.3% |
| ELV | Elevance Health Inc | 2.4% | +23.7% |
| ASML | ASML Holding NV ADR | 1.7% | +3.4% |
| DASTY | Dassault Systemes SA | 1.4% | 0.0% |
Recent activity
| Date | Action | Ticker | Weight |
|---|---|---|---|
| Aug 10, 2026 | BUY | VMC | 0.0% → 4.3% |
| Aug 10, 2026 | BUY | DEO | 5.9% → 6.6% |
| Aug 10, 2026 | SELL | AMZN | 9.0% → 9.2% |
| Aug 10, 2026 | SELL | CRM | 5.3% → 0.0% |
| Aug 10, 2026 | BUY | TSM | 6.0% → 6.5% |
Investment Style Analysis
Veritas Asset Management LLP is widely recognized for employing a Value strategy. As of Sep 21, 2026, the firm oversees approximately $6.9B in assets under management (AUM). The portfolio demonstrates a clear preference for the Diagnostics & Research and Financial Data & Stock Exchanges sectors, reflecting a high-conviction approach to capital allocation.
Recent Market Moves
During the latest rebalancing period ending Aug 10, Veritas Asset Management LLP made a significant move by increasing exposure to VMC. This adjustment aligns with the fund's dynamic approach to risk management and capital deployment in current market conditions.
Investment Philosophy
The investment philosophy of Veritas Asset Management is centered on delivering long-term real returns through a disciplined, research-intensive approach. The firm targets high-quality, cash-generating companies that demonstrate sustainable competitive advantages and the potential for long-term growth. Investments are analyzed on an absolute basis rather than relative to market indices, with a strong focus on margin of safety and absolute valuations. This process typically involves a five-year time horizon and a goal of achieving a significant annual internal rate of return. By managing concentrated portfolios, the investment team ensures deep understanding and active monitoring of each holding, aligning interests with clients through a partnership culture and a commitment to protecting capital in real terms.
Disclaimer
The content provided on this page, including the simulated portfolio performance, holdings analysis, and AI-generated insights, is for informational and educational purposes only. It does not constitute financial advice, investment recommendations, or an offer to buy or sell any securities. All data is derived from historical SEC 13F filings and other public disclosures, which have a reporting lag. The "Simulated Performance" is a hypothetical reconstruction based on past disclosures and does not represent the actual returns of the institution. Past performance is not indicative of future results. Tritonix.ai is not affiliated with Veritas Asset Management LLP.
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Frequently asked questions
How is the simulated portfolio for Veritas Asset Management LLP constructed?
This simulation is powered by Tritonix AI using official SEC filings. We focus on the "Best Ideas" by filtering for only the Top 20 largest holdings and rebalancing them to 100%. The simulation tracks performance starting from Oct 1, 2025. Our AI monitors for updates every Monday to capture major shifts. This concentrated approach highlights the manager's true stock-picking skill and mirrors their actual investment returns.
What is Veritas Asset Management LLP's largest holding?
As of the latest filing, Veritas Asset Management LLP's top position is Amazon.com Inc (AMZN), representing 9.2% of the portfolio. This reflects a high-conviction bet by the institution.
What is Veritas Asset Management LLP's historical performance and risk profile?
Our simulation indicates a total return of +3.1% with a win rate of 43%. Notably, the portfolio maintains a Sharpe Ratio of -0.91, suggesting an standard level of risk-adjusted returns compared to the broader market.
What sectors does Veritas Asset Management LLP primarily invest in?
Veritas Asset Management LLP has a strong preference for the Diagnostics & Research sector, which makes up 12.4% of their disclosed assets. The portfolio also has exposure to Financial Data & Stock Exchanges, indicating a specific thematic focus.
Is Veritas Asset Management LLP's portfolio concentrated or diversified?
Veritas Asset Management LLP runs a moderately concentrated portfolio with 20 disclosed positions. The top 3 holdings alone account for 25.5% of the total portfolio weight, suggesting a strategy that favors broader market exposure.
How has Veritas Asset Management LLP performed in 2026?
Our AI-simulated model portfolio for Veritas Asset Management LLP tracks a Year-to-Date (YTD) return of +1.5%. This metric helps investors gauge the institution's effectiveness in the current market environment.
Does Andy Headley manage Veritas Asset Management LLP directly?
Yes, Andy Headley serves as the key portfolio manager for Veritas Asset Management LLP, overseeing the investment strategy and final capital allocation decisions.