Lazard Freres Gestion S.A.S.

CIK

1426748

Location

PARIS, I0

Portfolio Value

Mid $5,034,511,879

Diversification

Diversified

Filing Date

Global Rank

#520 / 8,232 ▲ 10

Top Industry

Internet Content & Information 10.0%

3Y Alpha vs SPY

-6.9%

Period ended 2 months ago

Filed May 7, 2026 · 38d

22 quarters · since Dec 2020

Clone Performance

Jun 2023–Jun 2026 · vs SPY

Hypothetical growth of cloning every reported 13F position and rebalancing on each filing, indexed to the same start.

Cloned portfolio

+47.7%

SPY

+76.3%

Annualised alpha

-6.9%

Max drawdown

−19.0%

Estimate. 13F holdings are quarter-lagged and long-only, so the clone rebalances about 45 days after each period end — when the filing becomes public — and excludes options and short positions. Past performance does not predict future results.

Portfolio Concentration

114 positions · as of Mar 31, 2026 · Δ vs Dec 31, 2025

Top Position

7.8%

−1.4 pts

Top 5

33.2%

−1.1 pts

Top 10

51.1%

−0.9 pts

HHI

366

Diversified−15

Portfolio Trend

22 quarters · across all stocks

Sector Breakdown

As of Mar 31, 2026

Sector	% Portfolio	Value	Positions
Technology	33.4%	$1,683,657,394	30
Healthcare	12.3%	$621,226,669	15
Financial Services	12.1%	$608,808,562	14
Communication Services	11.7%	$591,553,700	8
Consumer Cyclical	10.2%	$515,937,227	11
Industrials	9.5%	$478,013,050	17
Consumer Defensive	6.4%	$321,235,261	8
Basic Materials	2.1%	$106,715,780	3
Energy	1.1%	$53,379,735	2
Unclassified	1.0%	$48,980,226	2
Real Estate	0.1%	$2,714,721	2
Utilities	0.0%	$2,289,554	2

Last Quarter's Activity

Export CSV

Mar 31, 2026 vs Dec 31, 2025

Added To

Positions the filer increased

25 positions

Ticker	Company	Δ Shares	Shares	Value
MDLZ	Mondelez International, Inc.	+120,683	825,155	$47,561,934
TMUS	T-Mobile US, Inc.	+47,657	218,171	$45,822,455
NKE	NIKE, Inc.	+33,443	1,219,185	$64,397,351
OTIS	Otis Worldwide Corp	+31,804	1,340,964	$103,361,505
AAPL	Apple Inc.	+21,776	1,256,009	$318,762,524
MSFT	Microsoft Corp	+19,542	1,060,361	$392,513,831
AMZN	Amazon Com Inc	+19,008	1,602,828	$333,820,987
V	Visa Inc.	+11,114	745,683	$225,375,229
SPOT	Spotify Technology S.A.	+9,650	42,220	$20,472,900
BAC	Bank Of America Corp /De/	+8,023	38,339	$1,869,026
DDOG	Datadog, Inc.	+7,000	18,310	$2,161,495
AVGO	Broadcom Inc.	+6,933	231,531	$71,661,159
SPGI	S&P Global Inc.	+5,797	218,402	$92,895,106
COST	Costco Wholesale Corp /New	+5,230	120,863	$120,431,519
IDXX	Idexx Laboratories Inc /De	+4,290	67,287	$37,807,892
LLY	ELI LILLY & Co	+3,906	77,376	$71,168,123
WM	Waste Management Inc	+2,324	6,166	$1,416,885
JPM	Jpmorgan Chase & Co	+1,524	171,596	$50,476,679
HON	Honeywell International Inc	+1,281	240,815	$54,431,414
AWK	American Water Works Company, Inc.	+890	11,050	$1,503,794
JCI	Johnson Controls International plc	+710	14,785	$1,936,095
MLM	Martin Marietta Materials Inc	+661	81,690	$48,089,269
GS	Goldman Sachs Group Inc	+647	931	$787,616
QQQ	Invesco Qqq Trust, Series 1	+519	4,802	$2,771,618
XOM	Exxon Mobil Corp	+385	5,535	$939,068
No positions match the current search.

Trimmed

Positions the filer reduced

25 positions

Ticker	Company	Δ Shares	Shares	Value
MDT	Medtronic plc	−125,081	1,580,855	$136,981,085
MS	Morgan Stanley	−90,561	394,222	$64,877,114
BDX	Becton Dickinson & Co	−72,306	303,247	$47,679,525
AMAT	Applied Materials Inc /De	−68,214	444,031	$151,765,355
APH	Amphenol Corp /De/	−66,673	688,090	$86,940,171
MRK	Merck & Co., Inc.	−61,557	1,132,358	$136,211,343
ROST	Ross Stores, Inc.	−52,237	262,706	$56,910,000
BALL	BALL Corp	−46,389	5,115	$302,347
MAR	Marriott International Inc /Md/	−27,558	164,027	$53,648,310
ICE	Intercontinental Exchange, Inc.	−27,038	354,884	$55,816,155
NVDA	Nvidia Corp	−24,785	1,460,537	$254,717,652
CRM	Salesforce, Inc.	−23,409	12,445	$2,323,108
RTX	RTX Corp	−20,348	1,032,534	$199,175,808
ACN	Accenture plc	−17,826	667,031	$132,265,576
ECL	Ecolab Inc.	−17,115	219,570	$58,410,011
VERX	Vertex, Inc.	−15,060	94,940	$1,128,836
SPY	Spdr S&P 500 ETF Trust	−13,960	71,053	$46,208,608
BRK-B	Berkshire Hathaway Inc	−11,329	39,467	$18,912,586
CL	Colgate Palmolive Co	−9,928	766,769	$65,351,721
NFLX	Netflix Inc	−9,620	34,300	$3,297,945
IOT	Samsara Inc.	−8,830	51,170	$1,621,577
MSI	Motorola Solutions, Inc.	−8,755	430,891	$186,993,767
EL	Estee Lauder Companies Inc	−8,613	1,109,265	$79,611,949
ZTS	Zoetis Inc.	−7,640	1,049,307	$124,038,580
PINS	Pinterest, Inc.	−7,340	72,660	$1,332,584
No positions match the current search.

New Positions

Positions the filer opened this quarter

12 positions

Ticker	Company	Shares	Value
BSX	Boston Scientific Corp	217,486	$13,647,246
WAT	Waters Corp /De/	38,583	$11,490,017
ADI	Analog Devices Inc	1,844	$586,650
DHR	Danaher Corp /De/	2,599	$492,770
MCD	Mcdonalds Corp	1,391	$432,308
NDSN	Nordson Corp	1,600	$425,696
MRSH	Marsh & Mclennan Companies, Inc.	2,177	$377,600
CBRE	Cbre Group, Inc.	2,340	$316,976
J	Jacobs Solutions Inc.	2,465	$313,745
BX	Blackstone Inc.	2,702	$310,702
CAT	Caterpillar Inc	330	$233,791
NEM	NEWMONT Corp /DE/	2,000	$216,500
No positions match the current search.

Sold Out

Positions the filer fully exited

3 positions

Ticker	Company	Shares	Value
ADBE	Adobe Inc.	75,782	$26,522,942
OLED	Universal Display Corp \Pa\	3,000	$350,340
LAZ	Lazard, Inc.	4,500	$218,520
No positions match the current search.

Portfolio Positions

Compact Export CSV View 13F filing

114 positions · $5,034,511,879 total · as of Mar 31, 2026

All sectors Basic Materials Communication Services Consumer Cyclical Consumer Defensive Energy Financial Services Healthcare Industrials Real Estate Technology Utilities

Showing 1–50 of 114 positions by value · page 1 of 3

Ticker	Company	Type	Shares	Δ Shares	Value (USD)	% Δ Value	% of Portfolio
MSFT	Microsoft Corp Technology	Added	1,060,361	+19,542	$392,513,831	−22.0%	7.80%
GOOGL	Alphabet Inc. Communication Services	Reduced	1,287,813	-2,080	$370,323,506	−8.3%	7.36%
AMZN	Amazon Com Inc Consumer Cyclical	Added	1,602,828	+19,008	$333,820,987	−8.7%	6.63%
AAPL	Apple Inc. Technology	Added	1,256,009	+21,776	$318,762,524	−5.0%	6.33%
NVDA	Nvidia Corp Technology	Reduced	1,460,537	-24,785	$254,717,652	−8.0%	5.06%
V	Visa Inc. Financial Services	Added	745,683	+11,114	$225,375,229	−12.5%	4.48%
RTX	RTX Corp Industrials	Reduced	1,032,534	-20,348	$199,175,808	+3.1%	3.96%
MSI	Motorola Solutions, Inc. Technology	Reduced	430,891	-8,755	$186,993,767	+11.0%	3.71%
AMAT	Applied Materials Inc /De Technology	Reduced	444,031	-68,214	$151,765,355	+15.3%	3.01%
MDT	Medtronic plc Healthcare	Reduced	1,580,855	-125,081	$136,981,085	−16.4%	2.72%
MRK	Merck & Co., Inc. Healthcare	Reduced	1,132,358	-61,557	$136,211,343	+8.4%	2.71%
ACN	Accenture plc Technology	Reduced	667,031	-17,826	$132,265,576	−28.0%	2.63%
ZTS	Zoetis Inc. Healthcare	Reduced	1,049,307	-7,640	$124,038,580	−6.7%	2.46%
COST	Costco Wholesale Corp /New Consumer Defensive	Added	120,863	+5,230	$120,431,519	+20.8%	2.39%
PH	Parker-Hannifin Corp Industrials	Added	122,356	+83	$109,537,985	+1.9%	2.18%
META	Meta Platforms, Inc. Communication Services	Reduced	184,857	-5,372	$105,762,235	−15.8%	2.10%
OTIS	Otis Worldwide Corp Industrials	Added	1,340,964	+31,804	$103,361,505	−9.6%	2.05%
SPGI	S&P Global Inc. Financial Services	Added	218,402	+5,797	$92,895,106	−16.4%	1.85%
APH	Amphenol Corp /De/ Technology	Reduced	688,090	-66,673	$86,940,171	−14.8%	1.73%
EL	Estee Lauder Companies Inc Consumer Defensive	Reduced	1,109,265	-8,613	$79,611,949	−32.0%	1.58%
AVGO	Broadcom Inc. Technology	Added	231,531	+6,933	$71,661,159	−7.8%	1.42%
LLY	ELI LILLY & Co Healthcare	Added	77,376	+3,906	$71,168,123	−9.9%	1.41%
CL	Colgate Palmolive Co Consumer Defensive	Reduced	766,769	-9,928	$65,351,721	+6.5%	1.30%
MS	Morgan Stanley Financial Services	Reduced	394,222	-90,561	$64,877,114	−24.6%	1.29%
NKE	NIKE, Inc. Consumer Cyclical	Added	1,219,185	+33,443	$64,397,351	−14.8%	1.28%
KLAC	Kla Corp Technology	Reduced	40,174	-4,531	$59,152,599	+8.9%	1.17%
ECL	Ecolab Inc. Basic Materials	Reduced	219,570	-17,115	$58,410,011	−6.0%	1.16%
ROST	Ross Stores, Inc. Consumer Cyclical	Reduced	262,706	-52,237	$56,910,000	+0.3%	1.13%
ICE	Intercontinental Exchange, Inc. Financial Services	Reduced	354,884	-27,038	$55,816,155	−9.8%	1.11%
HON	Honeywell International Inc Industrials	Added	240,815	+1,281	$54,431,414	+16.5%	1.08%
MAR	Marriott International Inc /Md/ Consumer Cyclical	Reduced	164,027	-27,558	$53,648,310	−9.7%	1.07%
CVX	Chevron Corp Energy	Reduced	253,459	-717	$52,440,667	+35.4%	1.04%
MCO	Moodys Corp /De/ Financial Services	Reduced	117,168	-6,669	$51,114,540	−19.2%	1.02%
JPM	Jpmorgan Chase & Co Financial Services	Added	171,596	+1,524	$50,476,679	−7.9%	1.00%
MLM	Martin Marietta Materials Inc Basic Materials	Added	81,690	+661	$48,089,269	−4.7%	0.96%
BDX	Becton Dickinson & Co Healthcare	Reduced	303,247	-72,306	$47,679,525	−16.8%	0.95%
MDLZ	Mondelez International, Inc. Consumer Defensive	Added	825,155	+120,683	$47,561,934	+25.4%	0.94%
SPY	Spdr S&P 500 ETF Trust	Reduced	71,053	-13,960	$46,208,608	−20.3%	0.92%
TMUS	T-Mobile US, Inc. Communication Services	Added	218,171	+47,657	$45,822,455	+32.4%	0.91%
DIS	Walt Disney Co Communication Services	Reduced	445,261	-17	$42,914,255	−15.3%	0.85%
WFC	Wells Fargo & Company/Mn Financial Services	Held	536,101	0	$42,679,000	−14.6%	0.85%
IDXX	Idexx Laboratories Inc /De Healthcare	Added	67,287	+4,290	$37,807,892	−11.3%	0.75%
MTD	Mettler Toledo International Inc/ Healthcare	Reduced	29,842	-6	$37,636,730	−9.6%	0.75%
SPOT	Spotify Technology S.A. Communication Services	Added	42,220	+9,650	$20,472,900	+8.2%	0.41%
BRK-B	Berkshire Hathaway Inc Financial Services	Reduced	39,467	-11,329	$18,912,586	−25.9%	0.38%
BSX	Boston Scientific Corp Healthcare	NEW	217,486	NEW	$13,647,246	NEW	0.27%
WAT	Waters Corp /De/ Healthcare	NEW	38,583	NEW	$11,490,017	NEW	0.23%
PG	PROCTER & GAMBLE Co Consumer Defensive	Held	50,500	0	$7,294,220	+0.8%	0.14%
HD	Home Depot, Inc. Consumer Cyclical	Reduced	11,160	-3,235	$3,670,412	−25.9%	0.07%
AMD	Advanced Micro Devices Inc Technology	Reduced	17,667	-2,363	$3,593,997	−16.2%	0.07%