LAZARD ASSET MANAGEMENT LLC

Long Only Manager

LAZARD ASSET MANAGEMENT LLC is a Long Only Manager based in New York, NY led by Evan Lawrence Russo, reporting $128.88B in AUM as of Q3 2025 with MSFT as the largest holding (5% allocation).

CEOEvan Lawrence Russo

Portfolio Value: $74.1B
Positions: 1,613
Top Holding: MSFT at 5.31%
Last Reported: Q3 2025

Address30 Rockefeller Plaza, New York, NY, 10112, United States

Top Holdings

Largest long holdings in LAZARD ASSET MANAGEMENT LLC's portfolio (25.7% of total portfolio)

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Holding	Sector	Market Value	Weight	Ownership	Owned Since
1 Microsoft MSFT	Software - Infrastructure Technology	$3.9B	5.31%	0.10% 7.6M shares	≤ Q2 2013 Held for 12y 5m+
2 Apple AAPL	Consumer Electronics Technology	$3.1B	4.16%	0.08% 12.1M shares	≤ Q2 2013 Held for 12y 5m+
3 Amazon AMZN	Specialty Retail Consumer Cyclical	$2.5B	3.44%	0.11% 11.6M shares	≤ Q2 2013 Held for 12y 5m+
4 Alphabet Inc. GOOGL	Internet Content & Information Communication Services	$1.7B	2.34%	0.06% 7.1M shares	≤ Q2 2013 Held for 12y 5m+
5 Nvidia NVDA	Semiconductors Technology	$1.5B	2.03%	0.03% 8.1M shares	Q4 2015 Held for 9y 11m
6 Broadcom Inc. AVGO	Semiconductors Technology	$1.3B	1.82%	0.09% 4.1M shares	≤ Q2 2013 Held for 12y 5m+
7 Taiwan Semiconductor Manufacturing Company TSM	Semiconductors Technology	$1.3B	1.72%	— 4.6M shares	Q3 2025 Held for 2 months
8 Ferrovial FER	Industrial - Infrastructure Operations Industrials	$1.3B	1.70%	3.07% 22.0M shares	Q2 2024 Held for 1y 5m
9 Visa V	Financial - Credit Services Financial Services	$1.2B	1.66%	0.19% 3.6M shares	≤ Q2 2013 Held for 12y 5m+
10 CSX CSX	Railroads Industrials	$1.1B	1.47%	1.65% 30.7M shares	≤ Q2 2013 Held for 12y 5m+

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Changes

Portfolio activity, position movements, and quarter-over-quarter changes in LAZARD ASSET MANAGEMENT LLC's latest filing

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Market Value

$74.1B

Prior: $58.6B

Q/Q Change

+26.41%

+$15.5B

Net Flows % of MV

+14.6%

Turnover Ratio

15.39%

New Purchases

204 stocks

$7.5B

Added To

797 stocks

+$10.2B

Sold Out Of

609 stocks

$831.9M

Reduced Holdings

569 stocks

-$5.8B

Increased Positions

Position	Shares Δ	Change
1 Taiwan Semiconductor Manufacturing Company TSM	New	0 → 4.6M +$1.3B
2 HDB HDFC Bank HDB	New	0 → 11.5M +$392.0M
3 TLK PT Telekomunikasi Indonesia TLK	New	0 → 20.1M +$377.7M
4 America Movil S.A.B. de C.V. AMX	New	0 → 17.7M +$371.8M
5 INFY Infosys INFY	New	0 → 19.2M +$313.0M

Decreased Positions

Position	Shares Δ	Change
1 Fiserv FI	Sold	1.4M → 0 −$236.3M
2 Eversource Energy ES	Sold	2.7M → 0 −$171.3M
3 Ansys ANSS	Sold	314.5K → 0 −$110.5M
4 Bitdeer Technologies Group BTDR	Sold	1.3M → 0 −$14.6M
5 W.W. Grainger GWW	Sold	12.0K → 0 −$12.5M

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Analytics

Portfolio insights and performance metrics for LAZARD ASSET MANAGEMENT LLC

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Sector Allocation

Technology

28.20%

Industrials

13.90%

Financial Services

12.30%

Healthcare

10.10%

Consumer Cyclical

7.30%

Communication Services

4.80%

Consumer Defensive

4.20%

Real Estate

2.70%

Utilities

2.50%

Energy

2.20%

Basic Materials

1.80%

ETF

0.80%

Market Cap Distribution

Mega Cap (> $200B)

35.70%

Large Cap ($10B - $200B)

47.67%

Mid Cap ($2B - $10B)

4.14%

Small Cap ($300M - $2B)

1.17%

Micro Cap ($50M - $300M)

0.02%

Nano Cap (< $50M)

0.14%

N/A (ETF or Unknown)

11.16%

Portfolio Concentration

Top 10 Holdings %

25.65%

Top 20 Holdings %

37.49%

Top 50 Holdings %

59.19%

Top 100 Holdings %

77.1%