CIK: 0001207017
Total reported value
$60.8B
Reporting period: 2026-03-31 · Number of holdings: 2050
LAZARD ASSET MANAGEMENT LLC disclosed 2050 holdings in its latest 13F filing for the period ending 2026-03-31, with total reported value of $60.8B and a quarterly turnover rate of 25.0%.
Browse other institutions with $10B to $100B AUMBrowse other institutions starting with "L"
Lazard Asset Management LLC's disclosed holdings carry a Herfindahl concentration index of 0.009 — mathematically equivalent to about 107 equally-sized positions, well below its 2050 actual disclosed holdings. That gap points to a strategy built around a small core of high-conviction bets rather than broad diversification.
Position sizes vary widely across the portfolio (a coefficient of variation of 4.03), with a handful of outsized bets alongside many smaller positions.
No strong tilt toward either adding to existing winners or initiating outsized new positions was observed in the latest reported quarter.
Trim MSFT
+7.6% -$420.5M
Add PBR
+9.0% $249.4M
Trim HDB
-12.4% -$183.8M
Add NVDA
+22.9% $233.8M
Add EXC
+6.4% $198.6M
Add ED
+14.8% $188.5M
LAZARD ASSET MANAGEMENT is systematically hunting alpha via a momentum-driven factor tilt, adding to winners across Technology, Utilities, Real Estate, and Energy while seeding new positions in Healthcare and Industrials. With 1,846 holdings and an HHI of 0.009, this is a disciplined trend harvest, not a defensive rotation or macro bet.
The simultaneous accumulation of rate-sensitive Utilities (EXC, ED), Real Estate (AMT), and cyclical Tech (NVDA) and Energy (PBR) prices in a Goldilocks regime—steady growth, stable inflation, no rate shocks. The opposing thesis: a single macro surprise—resurgent inflation or a growth scare—would crash both the defensive income plays and momentum-led tech, revealing that their diversification is a mirage.
The 100th percentile momentum score is the portfolio's silent killer: a single-factor bet dressed as diversification. With only 25% turnover, the portfolio will be slow to react if momentum reverses across its 1,846 names. Meanwhile, the high coefficient of variation (4.03) concentrates risk in a few large positions (e.g., MSFT, NVDA) within the momentum factor, amplifying drawdown when the trade turns crowded.
This overview is machine-generated from public regulatory data and describes past filings only — it does not constitute financial advice.
Showing top 200 holdings (of 2050 total)
| # | Ticker | Issuer | Asset Subclass | Weight | Weight Change | Shares Change | 4Q Trend |
|---|---|---|---|---|---|---|---|
| 1 | AAPL | Apple INC | Stock-Tech | 3.44% | +0.05% | +11.75% | |
| 2 | MSFT | Microsoft CORP | Stock-Tech | 3.23% | -0.81% | +7.58% | |
| 3 | NVDA | Nvidia CORP | Stock-Tech | 2.96% | +0.31% | +22.90% | |
| 4 | AMZN | Amazon.com INC | Stock-Consumer Disc | 2.64% | — | +6.53% | |
| 5 | AMT | American Tower CORP | Stock-Real Estate | 2.08% | +0.27% | +20.39% | |
| 6 | EXC | Exelon CORP | Stock-Utilities | 1.99% | +0.28% | +6.44% | |
| 7 | CCI | Crown Castle INC | Stock-Real Estate | 1.80% | — | +15.71% | |
| 8 | GOOGL | Alphabet Inc-cl A | Stock-Comm Services | 1.66% | -0.21% | -0.31% | |
| 9 | TSM | Taiwan Semiconductor-sp Adr | Stock-Tech | 1.64% | — | -9.25% | |
| 10 | GOOG | Alphabet Inc-cl C | Stock-Comm Services | 1.62% | +0.09% | +19.65% | |
| 11 | CNI | Canadian Natl Railway Co | Stock-Industrials | 1.54% | — | +1.95% | |
| 12 | AVGO | Broadcom INC | Stock-Tech | 1.39% | — | +12.37% | |
| 13 | ✓ | Ferrovial Se | Stock-Other | 1.37% | — | -3.83% | |
| 14 | ED | Consolidated Edison INC | Stock-Utilities | 1.32% | +0.28% | +14.76% | |
| 15 | CSX | Csx CORP | Stock-Industrials | 1.24% | — | -11.26% | |
| 16 | V | Visa Inc-class A Shares | Stock-Financials | 1.20% | -0.20% | +2.34% | |
| 17 | LLY | Eli Lilly & Co | Stock-Healthcare | 1.09% | — | +7.19% | |
| 18 | TMO | Thermo Fisher Scientific INC | Stock-Healthcare | 0.99% | -0.22% | -1.00% | |
| 19 | ADI | Analog Devices INC | Stock-Tech | 0.89% | +0.15% | +6.30% | |
| 20 | BAC | Bank Of America CORP | Stock-Financials | 0.89% | — | +5.63% | |
| 21 | AMX | America Movil Sab De Cv | Stock-Other | 0.87% | +0.25% | +17.77% | |
| 22 | PBR | Petroleo Brasileiro-spon Adr | Stock-Energy | 0.86% | +0.39% | +8.98% | |
| 23 | PG | Procter & Gamble Co/the | Stock-Consumer Staples | 0.85% | — | -0.49% | |
| 24 | ICE | Intercontinental Exchange In | Stock-Financials | 0.85% | — | +0.04% | |
| 25 | TLK | Telkom Indonesia Persero-adr | Stock-Other | 0.77% | — | +23.43% | |
| 26 | ASML | ASML Holding N.V. | Stock-Tech | 0.74% | +0.25% | +25.81% | |
| 27 | AZN | AstraZeneca PLC | Stock-Healthcare | 0.71% | +0.71% | NEW | |
| 28 | KLAC | Kla CORP | Stock-Tech | 0.71% | +0.18% | +13.59% | |
| 29 | SLB | Slb LTD | Stock-Energy | 0.66% | — | -12.58% | |
| 30 | APH | Amphenol Corp-cl A | Stock-Tech | 0.66% | -0.20% | -15.30% | |
| 31 | AON | Aon plc | Stock-Financials | 0.65% | — | -5.35% | |
| 32 | MRK | Merck & Co. INC. | Stock-Healthcare | 0.64% | -0.15% | -26.16% | |
| 33 | DHR | Danaher CORP | Stock-Healthcare | 0.63% | -0.21% | -6.62% | |
| 34 | VALE | Vale Sa-sp Adr | Stock-Materials | 0.62% | +0.12% | +5.36% | |
| 35 | META | Meta Platforms Inc-class A | Stock-Comm Services | 0.60% | — | +17.24% | |
| 36 | INFY | Infosys Ltd-sp Adr | Stock-Tech | 0.60% | — | +17.02% | |
| 37 | XOM | Exxon Mobil CORP | Stock-Energy | 0.58% | +0.14% | -1.83% | |
| 38 | AME | Ametek INC | Stock-Industrials | 0.57% | — | +4.57% | |
| 39 | PANW | Palo Alto Networks INC | Stock-Tech | 0.55% | +0.20% | +82.82% | |
| 40 | QCOM | Qualcomm INC | Stock-Tech | 0.54% | — | +11.21% | |
| 41 | LIN | Linde plc | Stock-Materials | 0.53% | — | +1.48% | |
| 42 | WM | Waste Management INC | Stock-Industrials | 0.52% | — | +0.58% | |
| 43 | JNJ | Johnson & Johnson | Stock-Healthcare | 0.52% | +0.20% | +44.04% | |
| 44 | IQV | Iqvia Holdings INC | Stock-Healthcare | 0.52% | -0.20% | -2.01% | |
| 45 | CB | Chubb Limited | Stock-Financials | 0.52% | — | -7.89% | |
| 46 | KO | Coca-cola Co/the | Stock-Consumer Staples | 0.51% | — | +0.75% | |
| 47 | BSX | Boston Scientific CORP | Stock-Healthcare | 0.50% | — | +24.82% | |
| 48 | ISRG | Intuitive Surgical INC | Stock-Healthcare | 0.49% | — | +18.32% | |
| 49 | ADSK | Autodesk INC | Stock-Tech | 0.49% | — | +11.44% | |
| 50 | ASX | Ase Technology Holding -adr | Stock-Tech | 0.48% | — | -32.39% |
Performance for Q3 2026
+2.6%
Performance Last 4 Quarters
+22%
Based on 76% of reported portfolio value with available pricing
| Period | Holdings | Total value | Stability | Top holdings |
|---|---|---|---|---|
| 2026-03-31 | 2050 | $60.8B | 25 | |
| 2025-12-31 | 2068 | $59.0B | 41 | |
| 2025-09-30 | 2000 | $74.3B | 51 | |
| 2025-06-30 | 3684 | $72.7B | 0 | |
| 2025-03-31 | 3727 | $65.1B | 100 | |
| 2024-12-31 | 3807 | $68.4B | 0 | |
| 2024-09-30 | 3726 | $74.8B | 0 | |
| 2024-06-30 | 3826 | $79.7B | 0 | |
| 2024-03-31 | 3146 | $82.3B | 0 | |
| 2023-12-31 | 3401 | $79.0B | 0 | |
| 2023-09-30 | 3410 | $73.5B | 0 | |
| 2023-06-30 | 3403 | $81.2B | 0 | |
| 2023-03-31 | 3201 | $76.3B | 0 | |
| 2022-12-31 | 3227 | $72.6B | 0 | |
| 2022-09-30 | 3169 | $68.4B | 0 | |
| 2022-06-30 | 3268 | $73.9B | 0 | |
| 2022-03-31 | 3199 | $86.3B | 0 | |
| 2021-12-31 | 3062 | $94.0B | 0 | |
| 2021-09-30 | 3015 | $88.6B | 0 | |
| 2021-06-30 | 2652 | $89.1B | 96 | |
| 2021-03-31 | 2476 | $82.6B | 24 | |
| 2020-12-31 | 2436 | $79.1B | 26 | |
| 2020-09-30 | 2175 | $71.1B | 23 | |
| 2020-06-30 | 2183 | $65.1B | 37 | |
| 2020-03-31 | 2122 | $54.6B | 38 | |
| 2019-12-31 | 2092 | $70.0B | 26 | |
| 2019-09-30 | 2042 | $60.9B | 23 | |
| 2019-06-30 | 1727 | $61.7B | 22 | |
| 2019-03-31 | 1551 | $61.1B | 29 | |
| 2018-12-31 | 1412 | $54.3B | 30 | |
| 2018-09-30 | 1520 | $61.8B | 22 | |
| 2018-06-30 | 1518 | $57.6B | 24 | |
| 2018-03-31 | 1531 | $58.6B | 27 | |
| 2017-12-31 | 1455 | $58.4B | 24 | |
| 2017-09-30 | 1345 | $55.3B | 20 | |
| 2017-06-30 | 1367 | $53.2B | 29 | |
| 2017-03-31 | 1419 | $53.0B | 31 | |
| 2016-12-31 | 1432 | $49.0B | 27 | |
| 2016-09-30 | 1426 | $50.3B | 26 | |
| 2016-06-30 | 1490 | $47.4B | 25 | |
| 2016-03-31 | 1473 | $45.8B | 28 | |
| 2015-12-31 | 1541 | $43.7B | 41 | |
| 2015-09-30 | 1506 | $41.8B | 33 | |
| 2015-06-30 | 1564 | $47.7B | 21 | |
| 2015-03-31 | 1489 | $46.4B | 23 | |
| 2014-12-31 | 1599 | $46.8B | 29 | |
| 2014-09-30 | 1394 | $46.6B | 22 | |
| 2014-06-30 | 1332 | $47.8B | 25 | |
| 2014-03-31 | 1332 | $44.8B | 24 | |
| 2013-12-31 | 1377 | $45.1B | 24 | |
| 2013-09-30 | 1246 | $42.1B | 22 | |
| 2013-06-30 | 1368 | $42.2B | 0 |
Lazard Asset Management LLC's most significant position changes for 2026-03-31: New buy: AstraZeneca PLC (AZN); New buy: Rb Global INC (RBA); Sold out: Astrazeneca Plc-spons Adr (AZNN); Sold out: Baxter International INC (BAX); New buy: Vista Energy Sab De Cv (VIST).
| # | Ticker | Issuer | Weight Change | Shares Change | Action |
|---|---|---|---|---|---|
| 1 | PBR | Petroleo Brasileiro-spon Adr | +0.4% | +8.98% | Add |
| 2 | NVDA | Nvidia CORP | +0.3% | +22.90% | Add |
| 3 | EXC | Exelon CORP | +0.3% | +6.44% | Add |
| 4 | ED | Consolidated Edison INC | +0.3% | +14.76% | Add |
| 5 | AMT | American Tower CORP | +0.3% | +20.39% | Add |
| 6 | AMX | America Movil Sab De Cv | +0.3% | +17.77% | Add |
| 7 | ASML | ASML Holding N.V. | +0.3% | +25.81% | Add |
| 8 | UL | Unilever Plc-sponsored Adr | +0.2% | +674.18% | Add |
| 9 | MCO | Moody's CORP | +0.2% | +5102.93% | Add |
| 10 | JNJ | Johnson & Johnson | +0.2% | +44.04% | Add |
| 11 | PANW | Palo Alto Networks INC | +0.2% | +82.82% | Add |
| 12 | KLAC | Kla CORP | +0.2% | +13.59% | Add |
| 13 | TTE | Totalenergies Se | +0.2% | +30.16% | Add |
| 14 | AMAT | Applied Materials INC | +0.2% | +63.80% | Add |
| 15 | ADI | Analog Devices INC | +0.2% | +6.30% | Add |
| 16 | TJX | Tjx Companies INC | +0.2% | +63.89% | Add |
| 17 | COHR | Coherent CORP | +0.2% | +226.11% | Add |
| 18 | XOM | Exxon Mobil CORP | +0.1% | -1.83% | Trim |
| 19 | TER | Teradyne INC | +0.1% | +2.33% | Add |
| 20 | COST | Costco Wholesale CORP | +0.1% | +70.52% | Add |
| 21 | SHEL | Shell Plc-adr | +0.1% | +945.22% | Add |
| 22 | VALE | Vale Sa-sp Adr | +0.1% | +5.36% | Add |
| 23 | LMT | Lockheed Martin CORP | +0.1% | +29.98% | Add |
| 24 | ROST | Ross Stores INC | +0.1% | +608.46% | Add |
| 25 | GOOG | Alphabet Inc-cl C | +0.1% | +19.65% | Add |
| 26 | AAPL | Apple INC | +0.1% | +11.75% | Add |
| 27 | SBUX | Starbucks CORP | -0.1% | -85.33% | Trim |
| 28 | PTC | Ptc INC | -0.1% | -13.55% | Trim |
| 29 | INTU | Intuit INC | -0.1% | -11.54% | Trim |
| 30 | MU | Micron Technology INC | -0.1% | -34.54% | Trim |
| 31 | GIL | Gildan Activewear INC | -0.2% | -72.22% | Trim |
| 32 | MRK | Merck & Co. INC. | -0.2% | -26.16% | Trim |
| 33 | PYPL | Paypal Holdings INC | -0.2% | -73.90% | Trim |
| 34 | MDLZ | Mondelez International Inc-a | -0.2% | -99.27% | Trim |
| 35 | IQV | Iqvia Holdings INC | -0.2% | -2.01% | Trim |
| 36 | APH | Amphenol Corp-cl A | -0.2% | -15.30% | Trim |
| 37 | V | Visa Inc-class A Shares | -0.2% | +2.34% | Add |
| 38 | DHR | Danaher CORP | -0.2% | -6.62% | Trim |
| 39 | GOOGL | Alphabet Inc-cl A | -0.2% | -0.31% | Trim |
| 40 | TMO | Thermo Fisher Scientific INC | -0.2% | -1.00% | Trim |
| 41 | CRM | Salesforce INC | -0.2% | -12.73% | Trim |
| 42 | GS | Goldman Sachs Group INC | -0.3% | -58.99% | Trim |
| 43 | HDB | Hdfc Bank Ltd-adr | -0.3% | -12.35% | Trim |
| 44 | MSFT | Microsoft CORP | -0.8% | +7.58% | Add |
| 45 | AZN | AstraZeneca PLC | — | NEW | New buy |
| 46 | RBA | Rb Global INC | — | NEW | New buy |
| 47 | AZNN | Astrazeneca Plc-spons Adr | — | EXIT | Sold out |
| 48 | BAX | Baxter International INC | — | EXIT | Sold out |
| 49 | VIST | Vista Energy Sab De Cv | — | NEW | New buy |
| 50 | ESLT | Elbit Systems Ltd. | — | EXIT | Sold out |
| Period | Filed | Type | EDGAR |
|---|---|---|---|
| 2026-03-31 | 2026-05-15 | 13F-HR | View on EDGAR |
| 2025-12-31 | 2026-02-17 | 13F-HR | View on EDGAR |
| 2025-09-30 | 2025-11-14 | 13F-HR | View on EDGAR |
| 2025-06-30 | 2025-08-14 | 13F-HR | View on EDGAR |
| 2025-03-31 | 2025-05-15 | 13F-HR | View on EDGAR |
| 2024-12-31 | 2025-02-14 | 13F-HR | View on EDGAR |
| 2024-09-30 | 2024-11-14 | 13F-HR | View on EDGAR |
| 2024-06-30 | 2024-08-14 | 13F-HR | View on EDGAR |
| 2024-03-31 | 2024-07-09 | Amendment | View on EDGAR |
| 2024-03-31 | 2024-05-14 | 13F-HR | View on EDGAR |
| 2023-12-31 | 2024-02-14 | 13F-HR | View on EDGAR |
| 2023-09-30 | 2023-11-14 | 13F-HR | View on EDGAR |
| 2023-06-30 | 2023-08-15 | 13F-HR | View on EDGAR |
| 2023-03-31 | 2023-05-15 | 13F-HR | View on EDGAR |
| 2022-12-31 | 2023-02-15 | 13F-HR | View on EDGAR |
| 2022-09-30 | 2022-11-14 | 13F-HR | View on EDGAR |
| 2022-06-30 | 2022-08-09 | 13F-HR | View on EDGAR |
| 2022-03-31 | 2022-05-13 | 13F-HR | View on EDGAR |
| 2021-12-31 | 2022-02-09 | 13F-HR | View on EDGAR |
| 2021-09-30 | 2021-11-15 | 13F-HR | View on EDGAR |
| 2021-06-30 | 2021-08-12 | 13F-HR | View on EDGAR |
| 2021-03-31 | 2021-05-14 | 13F-HR | View on EDGAR |
| 2020-12-31 | 2021-02-11 | 13F-HR | View on EDGAR |
| 2020-09-30 | 2020-11-13 | 13F-HR | View on EDGAR |
| 2020-06-30 | 2020-08-13 | 13F-HR | View on EDGAR |
| 2020-03-31 | 2020-05-14 | 13F-HR | View on EDGAR |
| 2019-12-31 | 2020-02-13 | 13F-HR | View on EDGAR |
| 2019-09-30 | 2019-11-14 | 13F-HR | View on EDGAR |
| 2019-06-30 | 2019-08-14 | 13F-HR | View on EDGAR |
| 2019-03-31 | 2019-08-28 | Amendment | View on EDGAR |
| 2019-03-31 | 2019-05-13 | 13F-HR | View on EDGAR |
| 2018-12-31 | 2019-08-28 | Amendment | View on EDGAR |
| 2018-12-31 | 2019-02-13 | 13F-HR | View on EDGAR |
| 2018-09-30 | 2019-08-30 | Amendment | View on EDGAR |
| 2018-09-30 | 2018-11-13 | 13F-HR | View on EDGAR |
| 2018-06-30 | 2019-08-30 | Amendment | View on EDGAR |
| 2018-06-30 | 2018-08-13 | 13F-HR | View on EDGAR |
| 2018-03-31 | 2019-08-28 | Amendment | View on EDGAR |
| 2018-03-31 | 2018-05-14 | 13F-HR | View on EDGAR |
| 2017-12-31 | 2019-08-28 | Amendment | View on EDGAR |
| 2017-12-31 | 2018-02-13 | 13F-HR | View on EDGAR |
| 2017-09-30 | 2019-08-19 | Amendment | View on EDGAR |
| 2017-09-30 | 2017-11-13 | 13F-HR | View on EDGAR |
| 2017-06-30 | 2019-08-19 | Amendment | View on EDGAR |
| 2017-06-30 | 2017-08-11 | 13F-HR | View on EDGAR |
| 2017-03-31 | 2019-08-13 | Amendment | View on EDGAR |
| 2017-03-31 | 2017-05-12 | 13F-HR | View on EDGAR |
| 2016-12-31 | 2019-07-30 | Amendment | View on EDGAR |
| 2016-12-31 | 2017-02-13 | 13F-HR | View on EDGAR |
| 2016-09-30 | 2019-08-07 | Amendment | View on EDGAR |
| 2016-09-30 | 2016-11-14 | 13F-HR | View on EDGAR |
| 2016-06-30 | 2019-07-29 | Amendment | View on EDGAR |
| 2016-06-30 | 2016-08-15 | 13F-HR | View on EDGAR |
| 2016-03-31 | 2019-07-25 | Amendment | View on EDGAR |
| 2016-03-31 | 2016-05-12 | 13F-HR | View on EDGAR |
| 2015-12-31 | 2019-07-24 | Amendment | View on EDGAR |
| 2015-12-31 | 2016-02-12 | 13F-HR | View on EDGAR |
| 2015-09-30 | 2019-07-15 | Amendment | View on EDGAR |
| 2015-09-30 | 2015-11-13 | 13F-HR | View on EDGAR |
| 2015-06-30 | 2019-07-08 | Amendment | View on EDGAR |
| 2015-06-30 | 2015-08-13 | 13F-HR | View on EDGAR |
| 2015-03-31 | 2015-06-09 | Amendment | View on EDGAR |
| 2015-03-31 | 2015-05-15 | 13F-HR | View on EDGAR |
| 2014-12-31 | 2019-08-29 | Amendment | View on EDGAR |
| 2014-12-31 | 2015-06-09 | Amendment | View on EDGAR |
| 2014-12-31 | 2015-05-20 | Amendment | View on EDGAR |
| 2014-12-31 | 2015-02-12 | 13F-HR | View on EDGAR |
| 2014-09-30 | 2014-11-07 | 13F-HR | View on EDGAR |
| 2014-06-30 | 2014-08-12 | 13F-HR | View on EDGAR |
| 2014-03-31 | 2014-05-12 | 13F-HR | View on EDGAR |
| 2013-12-31 | 2014-02-14 | 13F-HR | View on EDGAR |
| 2013-09-30 | 2014-01-13 | Amendment | View on EDGAR |
| 2013-09-30 | 2013-11-13 | 13F-HR | View on EDGAR |
| 2013-06-30 | 2013-08-13 | 13F-HR | View on EDGAR |
Institutions with a similar AUM
CIK 0001345929
Total reported value
$60.9B
2,375 stks
2026-03-31
AUM within 0.1% of this institution
CIK 0001456228
Total reported value
$60.6B
1,660 stks
2026-03-31
AUM within 0.4% of this institution
CIK 0001421224
Total reported value
$61.3B
1,463 stks
2026-03-31
AUM within 0.8% of this institution
Institutions with overlapping top holdings
CIK 0000002230
Total reported value
$2.8B
99 stks
2026-03-31
4 of the top 5 holdings overlap, including Nvidia CORP
CIK 0000003520
Total reported value
$22.8B
525 stks
2026-03-31
4 of the top 5 holdings overlap, including Nvidia CORP
CIK 0000019617
Total reported value
$1.6T
33,063 stks
2026-03-31
4 of the top 5 holdings overlap, including Nvidia CORP