Lazard

LAZ • NYSE

Lazard is a financial - capital markets company in the financial services sector on NYSE, led by Peter R. Orszag, with a market cap of $4.8B. As of Q3 2025, 88% of shares are held by 333 institutional investors, with VANGUARD GROUP INC as the largest holder at 11.85%.

Chief Executive OfficerPeter R. Orszag

Market Cap$4.8B

Financial - Capital Markets

Financial Services

Employees3.3K

Websitelazard.com

Country

United States of America

Overview

Overview of institutional ownership in LAZ as of Q3 2025 with a market cap of $5.0B

All Institutions

Institutions: 333
Value Held: $4.4B
Shares Held: 83.3M
Avg Position: $13.2M
Median Position: $537.0K

Hedge Funds

Hedge Funds: 22
Value Held: $112.2M
Shares Held: 2.1M
Avg Position: $5.1M
Median Position: $2.9M

Ownership Breakdown

Institutional (non-HF)

86.0%

$4.3B

Hedge Funds

2.25%

$112.2M

Retail & Other

11.75%

$585.1M

Based on market cap of $5.0B as of Q3 2025. Institutional (non-HF) excludes hedge funds to avoid double counting.

Biggest Investors

Institutions with the largest positions in LAZ as of Q3 2025

Institution	Key People	Position Value	Ownership	Owned Since	Total AUM (Long)
VANGUARD GROUP INC Institution	Salim Ramji CEO	$590.1M 0.01% of portfolio	11.85% 11.2M shares	≤ Q2 2013 Held for 12y 5m+	$6.69T
FMR LLC Institution	-	$563.6M 0.03% of portfolio	11.32% 10.7M shares	≤ Q2 2013 Held for 12y 5m+	$1.92T
PRICE T ROWE ASSOCIATES INC /MD/ Long Only Manager	Robert W Sharps President	$409.5M 0.04% of portfolio	8.22% 7.8M shares	≤ Q2 2013 Held for 12y 5m+	$912.31B
B BlackRock, Inc. Institution	-	$386.6M 0.01% of portfolio	7.76% 7.3M shares	Q1 2016 Held for 9y 8m	$5.67T
ARIEL INVESTMENTS, LLC Long Only Manager	John Washington Rogers CEO	$276.9M 2.96% of portfolio	5.56% 5.2M shares	≤ Q2 2013 Held for 12y 5m+	$9.4B
GEODE CAPITAL MANAGEMENT LLC ETF Provider	David Kenneth Lane CEO	$124.1M 0.01% of portfolio	2.49% 2.4M shares	≤ Q2 2013 Held for 12y 5m+	$1.57T
Capital Research Global Investors RIA/Wealth	Maria Alejandra Herrera CIO	$118.0M 0.02% of portfolio	2.37% 2.2M shares	Q2 2024 Held for 1y 5m	$532.36B
STATE STREET CORP Institution	Ronald P. O'Hanley CEO	$105.9M 0.00% of portfolio	2.13% 2.0M shares	≤ Q2 2013 Held for 12y 5m+	$2.88T
VICTORY CAPITAL MANAGEMENT INC Long Only Manager	David Craig Brown CEO	$99.7M 0.06% of portfolio	2.00% 1.9M shares	Q2 2021 Held for 4y 5m	$158.22B
AMERIPRISE FINANCIAL INC Institution	Jim Cracchiolo CEO	$99.4M 0.02% of portfolio	2.00% 1.9M shares	Q1 2024 Held for 1y 8m	$433.11B

Net Capital Flow

Institutional buying and selling activity for LAZ in Q3 2025

Traded: −$40.2M
Buyers: 180
Sellers: 132
Total Bought: +$249.4M
Total Sold: −$289.6M
Avg Position: $11.9M

Biggest Buyers

Institution	Net Bought	Current Position
PRICE T ROWE ASSOCIATES INC /MD/ Long Only Manager	+$44.1M +835.9K shares	$409.5M 7.8M shares
Walleye Trading Advisors, LLC Hedge Fund•Multi-Strategy	+$19.5M +370.0K shares	$19.5M 370.0K shares
A Alyeska Investment Group, L.P. Hedge Fund•Multi-Strategy	+$18.2M +344.8K shares	$18.2M 344.8K shares
MACKENZIE FINANCIAL CORP Long Only Manager	+$16.8M +317.7K shares	$18.3M 347.6K shares
VANGUARD GROUP INC Institution	+$12.9M +245.2K shares	$590.1M 11.2M shares
AMERIPRISE FINANCIAL INC Institution	+$10.1M +192.0K shares	$99.4M 1.9M shares
CITADEL ADVISORS LLC Hedge Fund•Multi-Strategy	+$9.6M +182.3K shares	$16.8M 318.8K shares
D D. E. Shaw & Co., Inc. Institution	+$7.5M +141.8K shares	$7.5M 141.8K shares
ING INVESTMENT MANAGEMENT LLC Insurance Manager	+$6.5M +123.3K shares	$61.5M 1.2M shares
Polar Securities Inc. Hedge Fund•Multi-Strategy	+$6.3M +119.2K shares	$6.3M 119.2K shares

Biggest Sellers

Institution	Net Sold	Current Position
BALYASNY ASSET MANAGEMENT LLC Hedge Fund•Multi-Strategy	−$34.3M −715.0K shares	Sold Off 0 shares
FMR LLC Institution	−$31.0M −586.7K shares	$563.6M 10.7M shares
ARIEL INVESTMENTS, LLC Long Only Manager	−$26.8M −508.1K shares	$276.9M 5.2M shares
No Street GP LP Hedge Fund•Long/Short	−$26.4M −550.0K shares	Sold Off 0 shares
B BlackRock, Inc. Institution	−$17.8M −337.3K shares	$386.6M 7.3M shares
ENVESTNET ASSET MANAGEMENT INC Long Only Manager	−$11.6M −220.3K shares	$4.3M 82.2K shares
O'Keefe Stevens Advisory, Inc. RIA/Wealth	−$10.5M −218.9K shares	Sold Off 0 shares
PRINCIPAL FINANCIAL GROUP INC Institution	−$10.0M −190.0K shares	$83.8M 1.6M shares
TWO SIGMA ADVISERS, LLC Hedge Fund•Multi-Strategy	−$9.1M −172.2K shares	$7.0M 132.5K shares
MORGAN STANLEY RIA/Wealth	−$8.4M −158.8K shares	$78.2M 1.5M shares

Entry and Exit Activity

Institutions that initiated new positions or completely exited LAZ in Q3 2025

New Positions: 34
New Value: $10.5M
Exited Positions: 34
Exited Value: $88.4M

New Positions

Institution	Position Value
Van Berkom & Associates Inc. Long Only Manager	$2.9M 55.3K shares
O OSSIAM Institution	$1.5M 28.6K shares
TOUNJIAN ADVISORY PARTNERS, LLC Family Office	$1.2M 23.6K shares
Bridgewater Associates, LP Hedge Fund•Global Macro	$969.4K 18.4K shares
COOKSON PEIRCE & CO INC RIA/Wealth	$934.7K 17.7K shares
Riverwater Partners LLC RIA/Wealth	$919.9K 17.4K shares
Integrated Wealth Concepts LLC RIA/Wealth	$510.3K 9.7K shares
INFRASTRUCTURE CAPITAL ADVISORS, LLC ETF Provider	$309.0K 6.4K shares
Empowered Funds, LLC ETF Provider	$215.5K 4.1K shares
E EVERGREEN CAPITAL MANAGEMENT LLC Institution	$207.0K 3.9K shares

Exited Positions

Institution	Previous Position
BALYASNY ASSET MANAGEMENT LLC Hedge Fund•Multi-Strategy	$34.3M 715.0K shares
No Street GP LP Hedge Fund•Long/Short	$26.4M 550.0K shares
O'Keefe Stevens Advisory, Inc. RIA/Wealth	$10.5M 218.9K shares
ExodusPoint Capital Management, LP Hedge Fund•Multi-Strategy	$6.4M 134.3K shares
Jain Global LLC Hedge Fund•Multi-Strategy	$1.6M 33.9K shares
ADVENT CAPITAL MANAGEMENT /DE/ Hedge Fund•Multi-Strategy	$1.2M 25.0K shares
MARTINGALE ASSET MANAGEMENT L P Long Only Manager	$1.2M 24.3K shares
S Squarepoint Ops LLC Hedge Fund•Quant	$979.1K 20.4K shares
CONSOLIDATED PLANNING CORP RIA/Wealth	$779.2K 16.2K shares
Symphony Financial, Ltd. Co. RIA/Wealth	$711.3K 14.8K shares

Options Activity

Institutions with the largest Call and Put options positions in LAZ as of Q3 2025

Call Positions: 10
Call Value: $22.0M
Put Positions: 9
Put Value: $6.9M

Call Positions

Institution	Position Value
P PEAK6 LLC Institution	$8.8M 1.7K contracts
SUSQUEHANNA INTERNATIONAL GROUP, LLP Private Equity	$4.1M 778.0 contracts
CITADEL ADVISORS LLC Hedge Fund•Multi-Strategy	$3.7M 700.0 contracts
J JANE STREET GROUP, LLC Institution	$3.0M 560.0 contracts
Walleye Trading LLC RIA/Wealth	$770.6K 146.0 contracts
CAPITAL FUND MANAGEMENT S.A. Hedge Fund•Quant Macro	$554.2K 105.0 contracts
TUDOR INVESTMENT CORP ET AL Hedge Fund•Multi-Strategy	$438.1K 83.0 contracts
W WOLVERINE TRADING, LLC Institution	$387.8K 73.0 contracts
UBS Group AG Institution	$216.4K 41.0 contracts
Walleye Trading Advisors, LLC Hedge Fund•Multi-Strategy	$105.6K 20.0 contracts

Put Positions

Institution	Position Value
UBS Group AG Institution	$2.2M 415.0 contracts
CITADEL ADVISORS LLC Hedge Fund•Multi-Strategy	$1.3M 253.0 contracts
SUSQUEHANNA INTERNATIONAL GROUP, LLP Private Equity	$833.9K 158.0 contracts
J JANE STREET GROUP, LLC Institution	$797.0K 151.0 contracts
P PEAK6 LLC Institution	$791.7K 150.0 contracts
W WOLVERINE TRADING, LLC Institution	$520.6K 98.0 contracts
Walleye Trading LLC RIA/Wealth	$258.6K 49.0 contracts
Walleye Trading Advisors, LLC Hedge Fund•Multi-Strategy	$142.5K 27.0 contracts
CAPITAL FUND MANAGEMENT S.A. Hedge Fund•Quant Macro	- - contracts

Most Committed Institutions

Institutions with LAZ as the highest % of their portfolio as of Q3 2025

Institution	Key People	Portfolio Weight	Ownership	Owned Since	Total AUM (Long)
ARIEL INVESTMENTS, LLC Long Only Manager	John Washington Rogers CEO	2.96% $276.9M	5.56% 5.2M shares	≤ Q2 2013 Held for 12y 5m+	$9.4B
L Lesa Sroufe & Co RIA/Wealth	Lesa Anne Sroufe President	2.76% $2.8M	0.06% 52.8K shares	Q1 2025 Held for 8 months	$100.9M
Ranger Investment Management, L.P. Long Only Manager	Andrew Ferguson Hill President	2.15% $30.9M	0.62% 584.9K shares	Q4 2024 Held for 11 months	$1.4B
F Freemont Management S.A. Institution	-	1.65% $2.1M	0.04% 39.1K shares	Q1 2025 Held for 8 months	$125.1M
PENN CAPITAL MANAGEMENT CO INC Long Only Manager	Pamela Marie Lawrence President	1.12% $14.5M	0.29% 274.8K shares	Q1 2024 Held for 1y 8m	$1.3B
A Amica Retiree Medical Trust Institution	-	0.79% $564.5K	0.01% 10.7K shares	Q3 2024 Held for 1y 2m	$71.1M
ICON ADVISERS INC/CO Long Only Manager	Brian Thomas Callahan President	0.73% $3.3M	0.07% 61.8K shares	Q2 2024 Held for 1y 5m	$445.1M
Paulson Wealth Management Inc. RIA/Wealth	Nathan Robert Paulson President	0.61% $2.6M	0.05% 48.8K shares	Q4 2017 Held for 7y 11m	$423.0M
A AMICA MUTUAL INSURANCE CO Institution	-	0.58% $6.2M	0.13% 118.0K shares	Q2 2023 Held for 2y 5m	$1.1B
J Jackson Hole Capital Partners, LLC Fund of Funds	John Joseph Hastings Managing Partner	0.49% $2.9M	0.06% 54.6K shares	Q4 2018 Held for 6y 11m	$584.7M

Hedge Fund Spotlight

Discover hedge funds investing in LAZ

Point72 Asset Management, L.P.

Hedge Fund • Multi-Strategy

Portfolio ManagerSteven Alan Cohen

Portfolio Value: $43.2B
Positions: 1,279
Last Reported: Q3 2025

Sector Allocation

Position in Lazard

Market Value: $5.8M
Shares Held: 110.3K
Portfolio Weight: 0.01%
Owned Since: 2025-Q3

Top Holding	Sector	Market Value	Weight
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2 Microsoft MSFT	Software - Infrastructure Technology	$1.3B	3.10%
3 Arista Networks ANET	Computer Hardware Technology	$803.1M	1.86%