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Lazard
LAZ

195 hedge funds and large institutions have $3.6B invested in Lazard in 2013 Q3 according to their latest regulatory filings, with 31 funds opening new positions, 71 increasing their positions, 69 reducing their positions, and 31 closing their positions.

New
Increased
Maintained
Reduced
Closed

114% more call options, than puts

Call options by funds: $10.4M | Put options by funds: $4.83M

100% more funds holding in top 10

Funds holding in top 10: 3 → 6 (+3)

18% more capital invested

Capital invested by funds: $3.05B → $3.6B (+$544M)

3.15% more ownership

Funds ownership: 74.66% → 77.82% (+3.2%)

3% more repeat investments, than reductions

Existing positions increased: 71 | Existing positions reduced: 69

0% more first-time investments, than exits

New positions opened: 31 | Existing positions closed: 31

1% less funds holding

Funds holding: 196 → 195 (-1)

Holders
195
Holders Change
-1
Holders Change %
-0.51%
% of All Funds
6.32%
Holding in Top 10
6
Holding in Top 10 Change
+3
Holding in Top 10 Change %
+100%
% of All Funds
0.19%
New
31
Increased
71
Reduced
69
Closed
31
Calls
$10.4M
Puts
$4.83M
Net Calls
+$5.53M
Net Calls Change
+$3.73M

Top Buyers

1
N
Natixis
France
+$248M
2
CS
Credit Suisse
Switzerland
+$43.3M
3
Deutsche Bank
Deutsche Bank
Germany
+$23M
4
T. Rowe Price Associates
T. Rowe Price Associates
Maryland
+$22.9M
5
PC
Polar Capital
United Kingdom
+$21.2M

Top Sellers

1
Goldman Sachs
Goldman Sachs
New York
-$86.3M
2
Westfield Capital Management
Westfield Capital Management
Massachusetts
-$58.6M
3
CRM
Cramer Rosenthal McGlynn
Connecticut
-$35.5M
4
Lord, Abbett & Co
Lord, Abbett & Co
New Jersey
-$16.5M
5
AIM
abrdn Investment Management
United Kingdom
-$14M
Name Holding Trade Value Shares
Change 		Change in
Stake
NFA
51
Nationwide Fund Advisors
Ohio
$10.9M +$4.67M +131,507 +77%
Northern Trust
52
Northern Trust
Illinois
$10.7M +$325K +9,147 +3%
Comerica Bank
53
Comerica Bank
Texas
$10.5M -$5.22K -147 -0.1%
New York State Common Retirement Fund
54
New York State Common Retirement Fund
New York
$10.3M -$589K -16,613 -6%
PCM
55
Palisade Capital Management
New Jersey
$10.2M -$178K -5,027 -2%
California Public Employees Retirement System
56
California Public Employees Retirement System
California
$10.1M -$169K -4,776 -2%
MCM
57
MAI Capital Management
Ohio
$9.92M +$15.4K +434 +0.2%
CIC
58
Chilton Investment Company
Connecticut
$9.42M +$9.28M +261,472 New
California State Teachers Retirement System (CalSTRS)
59
California State Teachers Retirement System (CalSTRS)
California
$8.25M +$209K +5,900 +3%
Canada Life
60
Canada Life
Manitoba, Canada
$7.53M +$7.33M +206,710 New
CFB
61
Cullen/Frost Bankers
Texas
$7.43M +$143K +4,020 +2%
CIC
62
Crawford Investment Counsel
Georgia
$7.17M -$181K -5,110 -3%
PFMOSF
63
Philadelphia Financial Management of San Francisco
California
$7.13M +$7.03M +198,038 New
State Board of Administration of Florida Retirement System
64
State Board of Administration of Florida Retirement System
Florida
$7.11M +$186K +5,233 +3%
Capital Fund Management (CFM)
65
Capital Fund Management (CFM)
France
$5.49M +$2.34M +65,983 +76%
AM
66
Account Management
Massachusetts
$5.19M +$2.58M +72,710 +102%
RFC
67
Russell Frank Company
Washington
$5.18M -$5.23M -147,488 -51%
NTCOC
68
Northern Trust Company of Connecticut
Connecticut
$4.88M -$3.31M -93,400 -41%
ACI
69
AMP Capital Investors
Australia
$4.77M -$177K -5,000 -4%
BPM
70
Bronson Point Management
Connecticut
$4.5M +$4.44M +125,000 New
EMR
71
Errol M. Rudman
$4.42M +$632K +17,800 +17%
PPA
72
Parametric Portfolio Associates
Washington
$4.28M +$2.38K +67 +0.1%
KJHP
73
K.J. Harrison & Partners
Ontario, Canada
$3.96M – – –
RhumbLine Advisers
74
RhumbLine Advisers
Massachusetts
$3.93M -$84.9K -2,394 -2%
Canada Pension Plan Investment Board
75
Canada Pension Plan Investment Board
Ontario, Canada
$3.82M +$3.76M +106,000 +225,532%
1 2
3
4 5

LAZ Hedge Fund Activity: Q3 2013 in Review

195 of the 3,084 institutional investors tracked by Wall St. Rank reported a position in Lazard (LAZ) for Q3 2013, worth a combined $3.6B — up 18% from $3.05B a quarter earlier.

Fund positioning in LAZ was balanced in Q3 2013: 31 funds opened new positions, 31 closed out, 71 added to existing stakes and 69 trimmed.

The largest buyer was Natixis, opening a new position worth an estimated $248M. The largest seller was Goldman Sachs, cutting an estimated $86.3M.

  • 195 institutional investors held Lazard (LAZ) as of Q3 2013, down from 196 in Q2 2013.
  • Funds reported $3.6B of Lazard stock for Q3 2013, up 18% quarter-over-quarter.
  • 31 funds opened new Lazard positions in Q3 2013 and 31 closed out, a net change of 0 holders.
  • The largest Lazard buyer in Q3 2013 was Natixis, an estimated $248M added.
  • The largest Lazard seller in Q3 2013 was Goldman Sachs, an estimated $86.3M sold.

Based on aggregated 13F filings for Q3 2013.