Lazard Freres Gestion S.A.S.
Long book
$5.07B
Q1 2026
Positions
123
Top-10 weight
51%
concentration
Last quarter
+10.7%
SPY +14.8%
Turnover
13%
of book per quarter
Strategy in plain words
auto-generated from filingsLazard Freres Gestion S.A.S. is a diversified fundamental manager, running a $5.07B US long book across 123 positions.
The portfolio is concentrated: the top 10 names carry 51% of the portfolio. Turnover is modest: positions are typically held for years. Current anchor positions: MICROSOFT CORP, ALPHABET INC-CL A, AMAZON.COM INC, APPLE INC, NVIDIA CORP.
Over the last 9 quarters its long book ran on average 1.4pp per quarter behind the S&P 500, beating the index in 1 of 9 quarters. We rate its filings as signal-bearing: position changes reflect genuine views.
Implied long-book return vs S&P 500
methodology: positions priced quarterly, no shorts/options Fund long book S&P 500
Q1 2024
+2.8%
Q2 2024
+3.3%
Q3 2024
+0.6%
Q4 2024
-4.3%
Q1 2025
+10.1%
Q2 2025
+6.5%
Q3 2025
+4.7%
Q4 2025
-6.4%
Q1 2026
+10.7%
Sector allocation
Technology 40%
Services media 12%
Healthcare 12%
Consumer discretionary 10%
Industrials 9%
Other 7%
Financials 5%
Materials 2%
Long book by quarter
What does Lazard Freres own?
Q1 2026 13F| Company | Sector | Shares | Value | % of book | Change |
|---|---|---|---|---|---|
| MSFT MICROSOFT CORP | Technology | 1.1M | $392.5M | 7.7% | +1.9% |
| GOOGL ALPHABET INC-CL A | Technology | 1.3M | $370.3M | 7.3% | -0.2% |
| AMZN AMAZON.COM INC | Consumer discretionary | 1.6M | $333.8M | 6.6% | +1.2% |
| AAPL APPLE INC | Technology | 1.3M | $318.8M | 6.3% | +1.8% |
| NVDA NVIDIA CORP | Technology | 1.5M | $254.7M | 5.0% | -1.7% |
| V VISA INC-CLASS A SHARES | Services media | 745.7K | $225.4M | 4.4% | +1.5% |
| RTX RTX CORP | Industrials | 1.0M | $199.2M | 3.9% | -1.9% |
| MSI MOTOROLA SOLUTIONS INC | Technology | 430.9K | $187.0M | 3.7% | -2.0% |
| AMAT APPLIED MATERIALS INC | Technology | 444.0K | $151.8M | 3.0% | -13.3% |
| MDT MEDTRONIC PLC | Healthcare | 1.6M | $137.0M | 2.7% | -7.3% |
| MRK MERCK & CO. INC. | Healthcare | 1.1M | $136.2M | 2.7% | -5.2% |
| ACN ACCENTURE PLC-CL A | Services media | 667.0K | $132.3M | 2.6% | -2.6% |
| ZTS ZOETIS INC | Healthcare | 1.0M | $124.0M | 2.4% | -0.7% |
| COST COSTCO WHOLESALE CORP | Consumer discretionary | 120.9K | $120.4M | 2.4% | +4.5% |
| PH PARKER HANNIFIN CORP | Industrials | 122.4K | $109.5M | 2.2% | +0.1% |
| META META PLATFORMS INC-CLASS A | Technology | 184.9K | $105.8M | 2.1% | -2.8% |
| OTIS OTIS WORLDWIDE CORP | Industrials | 1.3M | $103.4M | 2.0% | +2.4% |
| SPGI S&P GLOBAL INC | Services media | 218.4K | $92.9M | 1.8% | +2.7% |
| APH AMPHENOL CORP-CL A | Technology | 688.1K | $86.9M | 1.7% | -8.8% |
| EL ESTEE LAUDER COMPANIES-CL A | Other | 1.1M | $79.6M | 1.6% | -0.8% |
| AVGO BROADCOM INC | Technology | 231.5K | $71.7M | 1.4% | +3.1% |
| LLY ELI LILLY & CO | Healthcare | 77.4K | $71.2M | 1.4% | +5.3% |
| CL COLGATE-PALMOLIVE CO | Other | 766.8K | $65.4M | 1.3% | -1.3% |
| MS MORGAN STANLEY | Financials | 394.2K | $64.9M | 1.3% | -18.7% |
| NKE NIKE INC -CL B | Other | 1.2M | $64.4M | 1.3% | +2.8% |
| KLAC KLA CORP | Other | 40.2K | $59.2M | 1.2% | -10.1% |
| ECL ECOLAB INC | Other | 219.6K | $58.4M | 1.2% | -7.2% |
| ROST ROSS STORES INC | Consumer discretionary | 262.7K | $56.9M | 1.1% | -16.6% |
| ICE INTERCONTINENTAL EXCHANGE IN | Financials | 354.9K | $55.8M | 1.1% | -7.1% |
| HON HONEYWELL INTERNATIONAL INC | Industrials | 240.8K | $54.4M | 1.1% | +0.5% |
| MAR MARRIOTT INTERNATIONAL -CL A | Services media | 164.0K | $53.6M | 1.1% | -14.4% |
| CVX CHEVRON CORP | Energy | 253.5K | $52.4M | 1.0% | -0.3% |
| MCO MOODY'S CORP | Services media | 117.2K | $51.1M | 1.0% | -5.4% |
| JPM JPMORGAN CHASE & CO | Financials | 171.6K | $50.5M | 1.0% | +0.9% |
| MLM MARTIN MARIETTA MATERIALS | Materials | 81.7K | $48.1M | 0.9% | +0.8% |
| BDX BECTON DICKINSON AND CO | Healthcare | 303.2K | $47.7M | 0.9% | -19.3% |
| MDLZ MONDELEZ INTERNATIONAL INC-A | Consumer staples | 825.2K | $47.6M | 0.9% | +17.1% |
| TMUS T-MOBILE US INC | Communications | 218.2K | $45.8M | 0.9% | +27.9% |
| DIS WALT DISNEY CO/THE | Services media | 445.3K | $42.9M | 0.8% | 0.0% |
| WFC WELLS FARGO & CO | Financials | 536.1K | $42.7M | 0.8% | Held |
| IDXX IDEXX LABORATORIES INC | Materials | 67.3K | $37.8M | 0.7% | +6.8% |
| MTD METTLER-TOLEDO INTERNATIONAL | Healthcare | 29.8K | $37.6M | 0.7% | 0.0% |
| GOOG ALPHABET INC-CL C | Technology | 87.5K | $25.1M | 0.5% | +2.0% |
| SPOT SPOTIFY TECHNOLOGY SA | Communications | 42.2K | $20.5M | 0.4% | +29.6% |
| BRK/B BERKSHIRE HATHAWAY INC-CL B | Financials | 39.5K | $18.9M | 0.4% | -22.3% |
| BSX BOSTON SCIENTIFIC CORP | Healthcare | 217.5K | $13.6M | 0.3% | New |
| WAT WATERS CORP | Healthcare | 38.6K | $11.5M | 0.2% | New |
| PG PROCTER & GAMBLE CO/THE | Other | 50.5K | $7.3M | 0.1% | Held |
| BRK/A BERKSHIRE HATHAWAY INC-CL A | Financials | 7 | $5.0M | 0.1% | -53.3% |
| HD HOME DEPOT INC | Consumer discretionary | 11.2K | $3.7M | 0.1% | -22.5% |
13F filing history
| Period | Form | Filed | Entries | Reported value | Flags | Source |
|---|---|---|---|---|---|---|
| Q1 2026 | 13F-HR | May 7, 2026 | 123 | $5.07B | $K fixed canonical | SEC ↗ |
| Q4 2025 | 13F-HR | Feb 6, 2026 | 112 | $5.55B | $K fixed canonical | SEC ↗ |
| Q3 2025 | 13F-HR | Oct 21, 2025 | 112 | $5.25B | $K fixed canonical | SEC ↗ |
| Q2 2025 | 13F-HR | Jul 31, 2025 | 110 | $4.79B | $K fixed canonical | SEC ↗ |
| Q1 2025 | 13F-HR | May 7, 2025 | 103 | $4.11B | $K fixed canonical | SEC ↗ |
| Q4 2024 | 13F-HR | Feb 10, 2025 | 101 | $4.99B | $K fixed canonical | SEC ↗ |
| Q3 2024 | 13F-HR | Nov 13, 2024 | 97 | $4.72B | $K fixed canonical | SEC ↗ |
| Q2 2024 | 13F-HR | Jul 29, 2024 | 93 | $4.34B | $K fixed canonical | SEC ↗ |
| Q1 2024 | 13F-HR | May 10, 2024 | 77 | $4.04B | $K fixed canonical | SEC ↗ |
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