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Asset Manager ← All Institutions

LAZARD ASSET MANAGEMENT LLC

Q4 2025 · Filed 2026-02-17
Market Value
$57.2B
-20.6%
Holdings
1,779
-374
New Purchases
205
Added To
643
Closed
187
Reduced
630
Top 10 Concentration
24.0%
Turnover
22.0%

Top Buys (by % of Portfolio)

SymbolCur %Prior %Chg %Value
CCI 1.81% 0.69% +1.11% $1.0B
AMT 1.87% 1.19% +0.68% $1.1B
GOOG 1.58% 0.92% +0.66% $902M
NVDA 2.74% 2.09% +0.65% $1.6B
KLAC 0.55% 0.08% +0.47% $313M
CNI 1.54% 1.17% +0.37% $881M
EXC 1.76% 1.40% +0.36% $1.0B
ASX 0.56% 0.28% +0.29% $322M
INFY 0.71% 0.43% +0.28% $408M
IQV 0.75% 0.48% +0.26% $428M
IR 0.26% 0.00% +0.26% $149M
HDB 0.80% 0.54% +0.25% $456M
ED 1.07% 0.83% +0.24% $612M
TOTB.DE 0.23% 0.00% +0.23% $133M
MU 0.59% 0.35% +0.23% $336M

Top Sells (by % of Portfolio)

SymbolCur %Prior %Chg %Value
MSFT 4.16% 5.46% -1.30% $2.4B
AAPL 3.50% 4.28% -0.78% $2.0B
AMAT 0.15% 0.82% -0.67% $85M
AMZN 2.92% 3.54% -0.62% $1.7B
ICE 0.93% 1.50% -0.57% $530M
GOOGL 1.93% 2.41% -0.49% $1.1B
XOM 0.45% 0.91% -0.46% $257M
BX 0.40% 0.86% -0.46% $228M
SCHW 0.46% 0.87% -0.41% $261M
AVGO 1.47% 1.87% -0.40% $838M
BAC 1.01% 1.41% -0.40% $577M
PG 0.90% 1.28% -0.38% $515M
AXP 0.17% 0.52% -0.35% $96M
HD 0.33% 0.68% -0.35% $190M
NDSN 0.07% 0.41% -0.34% $38M

Sector Allocation Over Time

Market Cap Concentration

TierHoldingsValueWeight
Mega Cap 75 $20.8B 36.3%
Large Cap 659 $31.5B 55.1%
Mid Cap 597 $3.6B 6.3%
Small Cap 393 $1.2B 2.1%
Micro Cap 55 $168M 0.3%

Portfolio Analytics

Avg Market Cap
$54.9B
Median Market Cap
$6.8B
Avg P/E
30.4
Median P/E
20.4
Avg Dividend Yield
0.02%
Avg Beta
1.05
# Stocks
1,651
# ETFs / Funds
128

Top Holdings (1,779 total)

# Symbol % Port Shares Value Avg Price Q/Q Value Chg Share Chg Chg % Status
1 MSFT 4.16% 4,925,233 $2.4B $483.62 -$1.6B -2,681,045 -35.2%
2 AAPL 3.50% 7,369,513 $2.0B $271.86 -$1.1B -4,743,853 -39.2%
3 AMZN 2.92% 7,239,349 $1.7B $230.82 -$878M -4,368,515 -37.6%
4 NVDA 2.74% 8,398,112 $1.6B $186.50 $61M +315,464 +3.9%
5 GOOGL 1.93% 3,519,790 $1.1B $313.00 -$636M -3,626,772 -50.8%
6 AMT 1.87% 6,085,163 $1.1B $175.57 $210M +1,620,781 +36.3%
7 CCI 1.81% 11,635,117 $1.0B $88.87 $533M +6,445,237 +124.2%
8 EXC 1.76% 23,130,053 $1.0B $43.59 -$2M +683,950 +3.0%
9 TSM 1.73% 3,249,879 $988M $303.89 -$286M -1,308,690 -28.7%
10 GOOG 1.58% 2,876,014 $902M $313.80 $243M +166,270 +6.1%
11 CNI 1.54% 8,903,624 $881M $98.91 $36M -52,087 -0.6%
12 AVGO 1.47% 2,422,234 $838M $346.10 -$507M -1,656,885 -40.6%
13 V 1.45% 2,359,602 $828M $350.71 -$403M -1,244,368 -34.5%
14 CSX 1.31% 20,660,113 $749M $36.25 -$341M -10,030,003 -32.7%
15 LLY 1.26% 669,922 $720M $1,074.68 -$107M -414,026 -38.2%
16 TMO 1.25% 1,234,434 $715M $579.45 -$52M -348,438 -22.0%
17 ED 1.07% 6,165,594 $612M $99.32 $13M +205,041 +3.4%
18 BAC 1.01% 10,499,846 $577M $55.00 -$439M -9,202,546 -46.7%
19 ICE 0.93% 3,270,198 $530M $161.96 -$548M -3,127,598 -48.9%
20 PG 0.90% 3,594,440 $515M $143.31 -$408M -2,413,165 -40.2%
21 APH 0.89% 3,752,993 $507M $135.14 -$258M -2,431,599 -39.3%
22 DHR 0.87% 2,172,812 $497M $228.92 -$156M -1,123,897 -34.1%
23 MRK 0.81% 4,407,041 $464M $105.26 -$129M -2,656,631 -37.6%
24 HDB 0.80% 12,478,341 $456M $36.54 $64M +1,001,578 +8.7%
25 AON 0.79% 1,286,072 $454M $352.88 $4M +25,652 +2.0%
26 ADI 0.76% 1,607,560 $436M $271.20 -$242M -1,152,359 -41.8%
27 TLK 0.75% 20,359,765 $429M $21.05 $51M +288,059 +1.4%
28 IQV 0.75% 1,896,950 $428M $225.41 $78M +57,912 +3.1%
29 INFY 0.71% 22,882,693 $408M $17.82 $95M +3,642,085 +18.9%
30 QCOM 0.68% 2,286,347 $391M $171.05 -$170M -1,089,291 -32.3%
31 BSX 0.65% 3,910,031 $373M $95.35 -$283M -2,809,738 -41.8%
32 META 0.63% 543,333 $359M $660.09 -$42M -1,667 -0.3%
33 CRM 0.62% 1,343,091 $356M $264.91 -$42M -336,095 -20.0%
34 SLB 0.60% 8,990,843 $345M $38.38 $39M +93,033 +1.1%
35 MU 0.59% 1,176,561 $336M $285.41 $81M -349,047 -22.9%
36 ADSK 0.58% 1,120,649 $332M $296.01 -$37M -39,334 -3.4%
37 CB 0.58% 1,055,024 $329M $312.12 -$184M -763,271 -42.0%
38 SPGI 0.57% 629,250 $329M $522.59 $14M -17,039 -2.6%
39 MDT 0.57% 3,411,802 $328M $96.06 -$244M -2,589,540 -43.1%
40 ASX 0.56% 20,010,829 $322M $16.10 $122M +1,997,888 +11.1%
41 AME 0.56% 1,547,833 $318M $205.31 -$180M -1,098,144 -41.5%
42 MMC 0.55% 1,709,219 $317M $185.52 -$240M -1,053,970 -38.1%
43 KLAC 0.55% 257,533 $313M $1,215.08 $258M +206,731 +406.9%
44 ISRG 0.54% 548,221 $310M $566.36 $62M -7,787 -1.4%
45 ACN 0.53% 1,137,583 $305M $268.30 -$206M -936,068 -45.1%
46 PAC 0.53% 1,154,495 $304M $263.63 $80M +206,914 +21.8%
47 WM 0.53% 1,378,332 $303M $219.71 -$268M -1,208,061 -46.7%
48 ROK 0.52% 760,552 $296M $389.07 -$199M -656,324 -46.3%
49 VALE 0.51% 22,480,635 $293M $13.03 $51M +208,128 +0.9%
50 ASML 0.50% 269,974 $289M $1,069.86 $56M +29,742 +12.4%
51 KO 0.50% 4,082,098 $285M $69.91 -$272M -4,325,522 -51.5%
52 CRH.L 0.49% 2,243,648 $280M $124.81 -$48M -495,851 -18.1%
53 LIN 0.48% 645,402 $275M $426.28 -$178M -308,662 -32.4%
54 PBR 0.48% 23,170,764 $275M $11.85 $1M +1,600,921 +7.4%
55 EFX 0.47% 1,236,214 $268M $216.98 -$177M -500,517 -28.8%
56 CDNS 0.47% 852,094 $266M $312.58 -$69M -101,636 -10.7%
57 PTC 0.46% 1,510,458 $263M $174.21 -$46M -14,518 -0.9%
58 SCHW 0.46% 2,615,026 $261M $99.91 -$362M -3,917,990 -60.0%
59 GS 0.46% 296,321 $260M $879.00 -$219M -310,880 -51.2%
60 XOM 0.45% 2,134,412 $257M $120.34 -$398M -3,677,926 -63.3%
61 MRVL 0.43% 2,918,565 $248M $84.98 -$289M -3,473,448 -54.3%
62 BX 0.40% 1,481,423 $228M $154.14 -$389M -2,131,240 -59.0%
63 TT 0.39% 579,356 $225M $389.20 -$242M -527,643 -47.7%
64 TX 0.39% 5,866,281 $224M $38.19 $22M +52,711 +0.9%
65 IVV 0.39% 325,676 $223M $684.94 $17M +18,245 +5.9%
66 MCD 0.39% 728,406 $223M $305.63 -$278M -918,972 -55.8%
67 PANW 0.37% 1,134,137 $209M $184.20 $64M +421,943 +59.2%
68 BAP 0.36% 720,103 $207M $287.00 $14M -5,049 -0.7%
69 TSLA 0.36% 452,709 $204M $449.72 $12M +22,267 +5.2%
70 ADBE 0.35% 574,243 $201M $349.99 -$72M -198,759 -25.7%
71 J 0.34% 1,479,389 $196M $132.46 -$268M -1,617,359 -52.2%
72 UNH 0.34% 581,411 $192M $330.11 -$181M -499,707 -46.2%
73 HD 0.33% 553,072 $190M $344.10 -$298M -652,366 -54.1%
74 MA 0.33% 328,246 $187M $570.88 $5M +6,646 +2.1%
75 JNJ 0.33% 904,546 $187M $206.95 $25M +31,146 +3.6%
76 AMD 0.32% 862,239 $185M $214.16 -$64M -673,579 -43.9%
77 CBRE 0.32% 1,130,003 $182M $160.79 -$232M -1,494,139 -56.9%
78 SNPS 0.32% 385,924 $181M $469.72 -$11M -3,367 -0.9%
79 INTU 0.32% 273,113 $181M $662.42 -$93M -127,854 -31.9%
80 ETN 0.30% 536,782 $171M $318.51 -$34M -9,644 -1.8%
81 CCEP 0.29% 1,846,964 $168M $90.87 -$43M -483,035 -20.7%
82 FI 0.28% 2,392,157 $161M $67.17 -$52M +742,813 +45.0%
83 ARCO 0.28% 21,471,672 $158M $7.34 $22M +1,343,195 +6.7%
84 TER 0.27% 812,074 $157M $193.56 $41M -29,494 -3.5%
85 OMC 0.27% 1,939,419 $157M $80.75 -$68M -810,009 -29.5%
86 AEM 0.27% 921,514 $156M $169.58 $7M +33,275 +3.8%
87 PEP 0.27% 1,071,055 $154M $143.52 $24M +149,041 +16.2%
88 BABA 0.26% 1,030,104 $151M $146.58 -$41M -41,476 -3.9%
89 IR 0.26% 1,884,586 $149M $79.22 +1,884,586 NEW
90 PM 0.26% 927,348 $149M $160.40 $13M +89,222 +10.7%
91 COP 0.26% 1,579,501 $148M $93.61 -$173M -1,813,103 -53.4%
92 IGT 0.26% 9,504,747 $147M $15.48 -$82M -3,774,730 -28.4%
93 ZBRA 0.26% 603,398 $147M $242.82 $48M +272,304 +82.2%
94 DIS 0.25% 1,260,954 $143M $113.77 -$10M -82,489 -6.1%
95 GD 0.25% 418,987 $141M $336.66 $13M +42,825 +11.4%
96 TJX 0.25% 915,061 $141M $153.61 $50M +290,153 +46.4%
97 ALL 0.24% 671,379 $140M $208.15 $114M +549,597 +451.3%
98 CL 0.24% 1,767,843 $140M $79.02 -$5M -42,385 -2.3%
99 TRMB 0.24% 1,752,950 $137M $78.35 -$9M -42,688 -2.4%
100 ODFL 0.24% 867,852 $136M $156.80 -$153M -1,186,192 -57.8%

Options Breakdown

22 Calls $42M Call Value 27 Puts $43M Put Value 1.02 P/C Ratio

Top Calls

SymbolSharesValueStatus
GH 95,000 $10M NEW
IREN 150,000 $6M NEW
LRN 70,000 $5M NEW
YNDX 50,000 $4M NEW
NTNX 50,000 $3M NEW
BBIO 30,000 $2M NEW
SMCI 50,000 $1M NEW
CORZ 100,000 $1M NEW
DBX 50,000 $1M NEW
BILL 25,000 $1M

Top Puts

SymbolSharesValueStatus
LITE 25,000 $9M NEW
GH 76,000 $8M NEW
IREN 104,000 $4M NEW
BMRN 50,000 $3M NEW
YNDX 32,000 $3M NEW
BE 30,000 $3M
ON 40,000 $2M NEW
DOCN 40,000 $2M NEW
BBIO 24,000 $2M NEW
NTNX 32,000 $2M NEW

New Positions

SymbolValue% Port
IR $149M 0.26%
TOTB.DE $133M 0.23%
AJG $53M 0.09%
BIGZ $22M 0.04%
SLDE $13M 0.02%
MICC $12M 0.02%
LEG $11M 0.02%
GLOB $10M 0.02%
TCBI $6M 0.01%
BMEZ $6M 0.01%
DRD $5M 0.01%
THR $5M 0.01%
IRON $5M 0.01%
ACA $4M 0.01%
TIGO $4M 0.01%

Sold Out Positions

SymbolValue% Port
AVB —%
ATR —%
ACI —%
CPS —%
SLGN —%
AVTR —%
CMG —%
PJT —%
NRK —%
CWEN —%
ARE —%
GVA —%
CARR —%
NSP —%
MUSA —%
View SEC EDGAR Filings for LAZARD ASSET MANAGEMENT LLC →

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For informational purposes only. Not investment advice. Data sourced from SEC filings. Privacy Terms