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Lazard Asset Management

Lazard Asset Management Portfolio holdings

AUM $60.8B
1-Year Est. Return 22.47%
This Fund
S&P 500
This Quarter Est. Return
+4.33%
1 Year Est. Return
+22.47%
3 Year Est. Return
+62.53%
5 Year Est. Return
+77.87%
10 Year Est. Return
+302.07%
AUM
$59B
AUM Growth
-$15.3B
Cap. Flow
-$17.5B
Cap. Flow %
-29.66%
Top 10 Hldgs %
23.25%
Holding
2,070
New
257
Increased
660
Reduced
658
Closed
198

Top Buys

Rank Stock Value
1
CCI icon
Crown Castle
CCI
+$593M
2
AMT icon
American Tower
AMT
+$295M
3
KLAC icon
KLA
KLAC
+$242M
4
IR icon
Ingersoll Rand
IR
+$149M
5
TTE icon
TotalEnergies
TTE
+$129M

Top Sells

Rank Stock Value
1
MSFT icon
Microsoft
MSFT
+$1.34B
2
AAPL icon
Apple
AAPL
+$1.27B
3
GOOGL icon
Alphabet (Google) Class A
GOOGL
+$1.04B
4
AMZN icon
Amazon
AMZN
+$999M
5
AMAT icon
Applied Materials
AMAT
+$612M

Sector Composition

Rank Sector Weight
1 Technology 28.74%
2 Financials 12.95%
3 Industrials 12.91%
4 Healthcare 10.97%
5 Consumer Discretionary 7.77%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
MSFT icon
1
Microsoft
MSFT
$2.83T
$2.38B 4.04%
4,925,233
-2,681,045
-35% -$1.34B
AAPL icon
2
Apple
AAPL
$4.72T
$2B 3.39%
7,369,513
-4,743,853
-39% -$1.27B
AMZN icon
3
Amazon
AMZN
$2.51T
$1.67B 2.83%
7,239,349
-4,368,515
-38% -$999M
NVDA icon
4
NVIDIA
NVDA
$5.06T
$1.57B 2.65%
8,398,112
+315,464
+4% +$58.7M
GOOGL icon
5
Alphabet (Google) Class A
GOOGL
$3.89T
$1.1B 1.87%
3,519,790
-3,626,772
-51% -$1.04B
AMT icon
6
American Tower
AMT
$76.7B
$1.07B 1.81%
6,085,163
+1,620,781
+36% +$295M
CCI icon
7
Crown Castle
CCI
$32.6B
$1.03B 1.75%
11,635,117
+6,445,237
+124% +$593M
EXC icon
8
Exelon
EXC
$48.4B
$1.01B 1.71%
23,130,053
+683,950
+3% +$31.2M
TSM icon
9
TSMC
TSM
$2.16T
$988M 1.67%
3,249,879
-1,308,690
-29% -$384M
GOOG icon
10
Alphabet (Google) Class C
GOOG
$3.89T
$902M 1.53%
2,876,014
+166,270
+6% +$47.6M
CNI icon
11
Canadian National Railway
CNI
$79.2B
$881M 1.49%
8,903,624
-52,087
-0.6% -$5.01M
FER icon
12
Ferrovial N.V. Ordinary Shares
FER
$45.3B
$875M 1.48%
13,611,534
-8,588,440
-39% -$543M
AVGO icon
13
Broadcom
AVGO
$1.87T
$838M 1.42%
2,422,234
-1,656,885
-41% -$593M
V icon
14
Visa
V
$669B
$828M 1.4%
2,359,602
-1,244,368
-35% -$424M
CSX icon
15
CSX Corp
CSX
$97.8B
$749M 1.27%
20,660,113
-10,030,003
-33% -$359M
LLY icon
16
Eli Lilly
LLY
$1.06T
$720M 1.22%
669,922
-414,026
-38% -$396M
TMO icon
17
Thermo Fisher Scientific
TMO
$213B
$715M 1.21%
1,234,434
-348,438
-22% -$197M
ED icon
18
Consolidated Edison
ED
$41.6B
$612M 1.04%
6,165,594
+205,041
+3% +$20.3M
BAC icon
19
Bank of America
BAC
$430B
$577M 0.98%
10,499,846
-9,202,546
-47% -$486M
ICE icon
20
Intercontinental Exchange
ICE
$81B
$530M 0.9%
3,270,198
-3,127,598
-49% -$490M
PG icon
21
Procter & Gamble
PG
$342B
$515M 0.87%
3,594,440
-2,413,165
-40% -$356M
APH icon
22
Amphenol
APH
$194B
$507M 0.86%
3,752,993
-2,431,599
-39% -$325M
DHR icon
23
Danaher
DHR
$135B
$497M 0.84%
2,172,812
-1,123,897
-34% -$247M
MRK icon
24
Merck
MRK
$322B
$464M 0.79%
4,407,041
-2,656,631
-38% -$249M
HDB icon
25
HDFC Bank
HDB
$119B
$456M 0.77%
12,478,341
+1,001,578
+9% +$36M
1
2 3 4 5

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Lazard Asset Management's Q4 2025 Portfolio in Review

As of Q4 2025, Lazard Asset Management held 2,070 positions worth $59B, down 21% from $74.3B the previous quarter. Its ten largest holdings account for 23% of the portfolio.

Lazard Asset Management withdrew a net $17.5B in Q4 2025, closing 198 positions and reducing 658 holdings. Its most notable exit was Henry Schein, an estimated $30.7M position sold in full.

By sector, the portfolio is most concentrated in Technology at 29% of assets, down from 30% a quarter earlier, followed by Financials and Industrials.

Against the trend, Lazard Asset Management opened a new position in Ingersoll Rand worth $149M.

  • Lazard Asset Management's largest Q4 2025 buy was Ingersoll Rand: 1,884,586 shares worth $149M.
  • Lazard Asset Management added most to Crown Castle in Q4 2025, an estimated $593M increase.
  • Lazard Asset Management's biggest Q4 2025 reduction was Microsoft, cutting an estimated $1.34B.
  • Lazard Asset Management fully exited Henry Schein in Q4 2025, selling an estimated $30.7M.
  • Lazard Asset Management's ten largest holdings make up 23% of its $59B portfolio in Q4 2025.
  • Lazard Asset Management opened 257 new positions and closed 198 in Q4 2025.
  • Lazard Asset Management's portfolio value fell 21% quarter-over-quarter to $59B.

Based on Lazard Asset Management's 13F filing for Q4 2025, filed 17 Feb 2026.