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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
FA
76
Financial Advantage
Maryland
$3.78M +$158K +4,466 +4%
VCAM
77
Van Cleef Asset Management
Ohio
$3.73M +$23.1K +650 +0.6%
STC
78
SEI Trust Company
Pennsylvania
$3.68M -$1.31M -36,900 -27%
JHIU
79
Janus Henderson Investors US
Colorado
$3.58M -$11.9M -335,100 -77%
State of Wisconsin Investment Board
80
State of Wisconsin Investment Board
Wisconsin
$3.39M -$259K -7,300 -7%
GA
81
Geneva Advisors
Illinois
$3.27M -$310K -8,749 -9%
Wells Fargo
82
Wells Fargo
California
$3.24M -$808K -22,760 -20%
PAM
83
Panagora Asset Management
Massachusetts
$3.14M -$591K -16,670 -16%
BIT
84
BlackRock Institutional Trust
California
$2.92M – – –
FMT
85
First Mercantile Trust
Tennessee
$2.82M +$398K +11,205 +17%
DDPIC
86
Deroy & Devereaux Private Investment Counsel
Michigan
$2.77M -$477K -13,450 -15%
NEI
87
Northwest & Ethical Investments
Ontario, Canada
$2.77M -$81.6K -2,300 -3%
VOYA Investment Management
88
VOYA Investment Management
Georgia
$2.43M -$5.25K -148 -0.2%
FAAS
89
First Allied Advisory Services
California
$2.35M +$2.3M +64,700 New
MAM
90
Martingale Asset Management
Massachusetts
$2.34M +$2.3M +64,916 New
RJA
91
Raymond James & Associates
Florida
$2.3M +$96.1K +2,707 +4%
FAAM
92
First Allied Asset Management
California
$2.28M +$2.22M +62,700 New
Charles Schwab
93
Charles Schwab
California
$2.28M +$64.1K +1,807 +3%
GG
94
Gofen & Glossberg
Illinois
$1.99M -$7.1K -200 -0.4%
RAM
95
Ramsey Asset Management
Virginia
$1.98M – – –
IRF
96
IBM Retirement Fund
New York
$1.89M -$246K -6,928 -12%
MPAM
97
Murphy Pohlad Asset Management
Minnesota
$1.81M -$33.7K -950 -2%
RC
98
Rivulet Capital
New Jersey
$1.8M -$3.55M -100,000 -67%
RIM
99
Ranger Investment Management
Texas
$1.78M -$80.4K -2,265 -4%
TAS
100
TIFF Advisory Services
Pennsylvania
$1.77M – – –
2 3
4
5 6

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.