LAZARD ASSET MANAGEMENT LLC
SEC Form 13F institutional filer · CIK 0001207017
13F-HR · 388 reported holdings · 2026-03-31
Asset management subsidiary of Lazard Ltd.
Reported long-US-equity value
$43.78B
Top-10 concentration
31.7%
LAZARD ASSET MANAGEMENT LLC — $43.8B AUM allocation strategy
LAZARD ASSET MANAGEMENT LLC files SEC Form 13F and reports $43.8B of long US equity value across 388 reported holdings for 2026-03-31.
Its largest sector bet is Information Technology 16.5%, followed by Real Estate 5.4% and Utilities 4.6%.
The top 10 holdings account for 32% of reported value — a broadly spread portfolio. The sector and industry splits below are of the same reported value. Track quarter-over-quarter adds, trims, new positions and exits below — sourced from SEC 13F filings, public domain.
LAZARD ASSET MANAGEMENT LLC — latest SEC 13F insights
Reported long-US-equity value (13F AUM)
$43.8B
total across 388 reported holdings · 2026-03-31 · excludes shorts, cash, non-US
Top-10 concentration
32% of value
higher = narrower conviction; lower = spread / hedging
Biggest adds (shares)
+$NVDA +1.92M sh · +$234M+$CCI +1.83M sh · +$60.7M+$EXC +1.49M sh · +$199M
Biggest trims (shares)
−$CSX −2.33M sh · +$3.66M−$MDLZ −1.76M sh · −$94.9M−$PFE −1.5M sh · −$36.3M
Exited to nil (held last quarter, gone now)
$BAX ($118M last qtr)$KR ($24M last qtr)$BF.B ($9.18M last qtr)$AOS ($2.49M last qtr)$HOOD ($2.23M last qtr)
Sector allocation (share of reported value)
each slice is a share of the reported long-US-equity value — smaller sectors and the rest of the book roll into “Other holdings”
Qtr shift = share-point change vs the prior quarter's filing — first period tracked for this filer; the column fills in with the next quarterly refresh.
Industry allocation (share of reported value)
- Semiconductors7.3%—
- Telecom Tower REITs5.4%—
- Technology Hardware, Storage & Peripherals4.8%—
- Interactive Media & Services4.6%—
- Systems Software4.5%—
- Broadline Retail3.6%—
- Electric Utilities2.7%—
- Multi-Utilities1.8%—
- Other holdings65.3%—
the finer GICS cut of the same book — same denominator — smaller industries roll into “Other holdings”
Qtr shift = share-point change vs the prior quarter's filing — first period tracked for this filer; the column fills in with the next quarterly refresh.
Top S&P 500 holdings
10 of 10 rows · sorted by Value ↓
| Ticker | Holding | Shares | Value | Δ QoQ | Weight |
|---|---|---|---|---|---|
| $AAPL | Apple Inc | 8.24M | $2.09B | +866K | 4.8% |
| $MSFT | Microsoft Corporation | 5.3M | $1.96B | +373K | 4.5% |
| $NVDA | NVIDIA Corporation | 10.3M | $1.8B | +1.92M | 4.1% |
| $AMZN | Amazon.com Inc | 7.71M | $1.61B | +473K | 3.7% |
| $AMT | American Tower Corporation | 7.33M | $1.26B | +1.24M | 2.9% |
| $EXC | Exelon Corporation | 24.6M | $1.21B | +1.49M | 2.8% |
| $CCI | Crown Castle Inc | 13.5M | $1.09B | +1.83M | 2.5% |
| $GOOG | Alphabet Inc. Class C Capital Stock | 3.51M | $1.01B | -10.8K | 2.3% |
| $GOOGL | Alphabet Inc | 3.44M | $987M | +565K | 2.3% |
| $AVGO | Broadcom Inc | 2.72M | $842M | +300K | 1.9% |
…and 378 more holdings in the full 13F filing (top positions only shown).
SEC Form 13F data sets · public domain · 45-day filing lag · >$100M AUM managers · as reported
← All 13F filers·← QuantOrb.pro
How to read Δ QoQ — the five insight categories, and the caveats
The categories. Analysts, quants and retail traders look past total portfolio value to isolate actionable signals. Five categories matter.
Conviction & concentration shifts
New positions vs complete exits — a brand-new stock signals high conviction; a full liquidation suggests a broken thesis or tax-loss harvesting. Aggressive sizing — look at share count, not dollars: a 20% share increase during a drawdown is strong dip-buying. Concentration — a narrowing top-5/10 means conviction; spreading capital across more names means hedging.
Sector & macro allocation rotations
Aggregating Δ QoQ moves across sectors shows where smart money is leaning in or sneaking out — rotating out of growth into defensives or energy, for example. The fund's total long equity exposure quarter-over-quarter is a proxy for overall institutional risk appetite.
Crowding & smart-money consensus
When several managers initiate or expand the same stock in the same quarter, that is institutional consensus. Contrarian reads: top pickers buying hard into a beaten-down name the market is selling.
Derivative & option overlays
Reported call/put changes indicate whether managers are adding downside hedges or leveraging upside exposure. Note: a long increase may be half of a market-neutral pair trade.
Who reads this
| Retail "cloners" | High-conviction ideas to replicate ~45 days after quarter-end. |
| Corporate IR | Which funds bought or dumped the stock, before the next call. |
| Quant / algo traders | Cross-sectional factor inputs: flow, momentum, ownership. |
Four caveats before you trade on it
- 45-day lag — holdings are quarter-end; positions may already be closed.
- Long-only — 13Fs miss shorts, pair trades and cash.
- No non-US / fixed income — the picture is US equities plus options.
- Corporate actions — splits and spinoffs distort raw share deltas.
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