LAZARD ASSET MANAGEMENT LLC

NEW YORK, NY · CIK 1207017 · 13F filing filed 2026-08-14

No investment adviser registration (Form ADV) found for this filer. It may be a parent company whose subsidiaries are the registered advisers, a bank or insurer, or a manager based outside the US.

$66.1bn reported value +8.8% vs Q1 2026

1,932positions

25.4%in top 10

341 new 839 added 637 reduced 253 sold out vs Q1 2026

Options: 1 call positions ($904.0k notional), 2 put positions ($2.9m notional) – listed below, not included above.

This report includes the holdings of 1 other manager that shares the investment decisions:

LAZARD ASSET MANAGEMENT LTD – reports through this filing

Also in the report of:

PERSONAL CFO SOLUTIONS, LLC – $51.2m of shares are in both reports
Integrated Investment Consultants, LLC – $806.3k of shares are in both reports
American Beacon Advisors, Inc.

Shares in two reports are counted once in each security's totals.

Holdings, Q2 2026

The small lines show how much was held over the last 4 quarters (adjusted for stock splits).

#	Security	Ticker	Shares	Value	% of portfolio	Change	Shares change
1	NVIDIA CORPORATION COM NVDA	NVDA	12,856,624	$2.6bn3.89%	3.89%	Added +2.5m	+2,535,337 24.6%
2	APPLE INC COM AAPL	AAPL	8,138,484	$2.4bn3.57%	3.57%	Reduced -96.6k	-96,629 -1.2%
3	MICROSOFT CORP COM MSFT	MSFT	5,303,055	$2.0bn2.99%	2.99%	Added +4.4k	+4,360 0.1%
4	AMAZON COM INC COM AMZN	AMZN	7,800,397	$1.9bn2.81%	2.81%	Added +88.4k	+88,380 1.1%
5	EXELON CORP COM EXC	EXC	32,169,502	$1.5bn2.27%	2.27%	Added +7.5m	+7,549,198 30.7%
6	TAIWAN SEMICONDUCTOR MFG LTD SPONSORED ADS TSM	TSM	3,014,900	$1.4bn2.18%	2.18%	Added +65.8k	+65,772 2.2%
7	AMERICAN TOWER CORP NEW COM AMT	AMT	8,403,123	$1.4bn2.08%	2.08%	Added +1.1m	+1,077,180 14.7%
8	ALPHABET INC CAP STK CL C GOOG	GOOG	3,643,303	$1.3bn1.95%	1.95%	Added +202.1k	+202,121 5.9%
9	ALPHABET INC CAP STK CL A GOOGL	GOOGL	3,520,113	$1.3bn1.90%	1.90%	Added +11.1k	+11,093 0.3%
10	CROWN CASTLE INC COM CCI	CCI	15,099,726	$1.1bn1.73%	1.73%	Added +1.6m	+1,636,544 12.2%
11	FERROVIAL SE ORD SHS FER	FER	14,820,723	$1.0bn1.54%	1.54%	Added +1.9m	+1,855,176 14.3%
12	CONSOLIDATED EDISON INC COM ED	ED	8,418,678	$931.4m1.41%	1.41%	Added +1.3m	+1,342,840 19.0%
13	VISA INC COM CL A V	V	2,475,339	$849.3m1.29%	1.29%	Added +60.6k	+60,552 2.5%
14	ELI LILLY & CO COM LLY	LLY	694,293	$832.8m1.26%	1.26%	Reduced -23.8k	-23,812 -3.3%
15	KLA CORP COM NEW KLAC	KLAC	2,427,234	$732.3m1.11%	1.11%	Reduced -498.1k	-498,086 -17.0%
16	ADVANCED MICRO DEVICES INC COM AMD	AMD	1,195,923	$694.7m1.05%	1.05%	Added +243.3k	+243,327 25.5%
17	MICRON TECHNOLOGY INC COM MU	MU	563,544	$650.5m0.98%	0.98%	Reduced -206.6k	-206,623 -26.8%
18	ANALOG DEVICES INC COM ADI	ADI	1,625,073	$645.4m0.98%	0.98%	Reduced -83.8k	-83,785 -4.9%
19	BROADCOM INC COM AVGO	AVGO	1,677,045	$633.5m0.96%	0.96%	Reduced -1.0m	-1,044,764 -38.4%
20	PALO ALTO NETWORKS INC COM PANW	PANW	1,814,830	$618.9m0.94%	0.94%	Reduced -258.7k	-258,651 -12.5%
21	BANK AMERICA CORP COM BAC	BAC	10,817,203	$616.4m0.93%	0.93%	Reduced -273.6k	-273,611 -2.5%
22	ASML HOLDING N V N Y REGISTRY SHS ASML	ASML	286,185	$569.3m0.86%	0.86%	Reduced -53.5k	-53,457 -15.7%
23	THERMO FISHER SCIENTIFIC INC COM TMO	TMO	1,134,093	$568.6m0.86%	0.86%	Reduced -88.0k	-87,964 -7.2%
24	AMERICA MOVIL SAB DE CV SPON ADS RP CL B AMX	AMX	20,859,778	$542.1m0.82%	0.82%	Added +51.9k	+51,863 0.2%
25	AMPHENOL CORP CL A APH	APH	3,047,437	$537.3m0.81%	0.81%	Reduced -131.5k	-131,463 -4.1%
26	AMETEK INC COM AME	AME	2,073,154	$501.6m0.76%	0.76%	Added +454.6k	+454,628 28.1%
27	CANADIAN NATL RY CO COM CNI	CNI	3,911,519	$466.3m0.71%	0.71%	Reduced -5.2m	-5,165,999 -56.9%
28	ASTRAZENECA PLC ORD AZN	AZN	2,332,566	$438.1m0.66%	0.66%	Added +115.7k	+115,679 5.2%
29	PROCTER AND GAMBLE CO COM PG	PG	2,870,698	$421.0m0.64%	0.64%	Reduced -706.0k	-706,038 -19.7%
30	PETROLEO BRASILEIRO SA PETRO SPONSORED ADR PBR	PBR	25,614,686	$413.9m0.63%	0.63%	Added +363.3k	+363,256 1.4%
31	INTERCONTINENTAL EXCHANGE IN COM ICE	ICE	3,200,350	$394.0m0.60%	0.60%	Reduced -71.2k	-71,190 -2.2%
32	ROCKWELL AUTOMATION INC COM ROK	ROK	793,886	$393.0m0.60%	0.60%	Added +37.4k	+37,387 4.9%
33	APPLIED MATLS INC COM AMAT	AMAT	515,888	$373.0m0.56%	0.56%	Reduced -28.4k	-28,418 -5.2%
34	AON PLC SHS CL A AON	AON	1,122,874	$372.4m0.56%	0.56%	Reduced -94.4k	-94,369 -7.8%
35	INTUITIVE SURGICAL INC COM NEW ISRG	ISRG	925,814	$368.2m0.56%	0.56%	Added +277.2k	+277,165 42.7%
36	INFOSYS LTD SPONSORED ADR INFY	INFY	34,406,069	$360.9m0.55%	0.55%	Added +7.6m	+7,629,575 28.5%
37	ASE TECHNOLOGY HLDG CO LTD SPONSORED ADS ASX	ASX	7,970,225	$359.6m0.54%	0.54%	Reduced -5.6m	-5,559,908 -41.1%
38	VALE S A SPONSORED ADS VALE	VALE	23,878,954	$359.1m0.54%	0.54%	Added +193.0k	+193,039 0.8%
39	META PLATFORMS INC CL A META	META	635,184	$357.8m0.54%	0.54%	Reduced -1.8k	-1,815 -0.3%
40	DANAHER CORPORATION COM DHR	DHR	1,870,168	$356.2m0.54%	0.54%	Reduced -158.8k	-158,797 -7.8%
41	JOHNSON & JOHNSON COM JNJ	JNJ	1,364,685	$346.6m0.52%	0.52%	Added +61.7k	+61,733 4.7%
42	P T TELEKOMUNIKASI INDONESIA SPONSORED ADR TLK	TLK	24,888,172	$334.2m0.51%	0.51%	Reduced -241.7k	-241,719 -1.0%
43	QUALCOMM INC COM QCOM	QCOM	1,797,119	$332.1m0.50%	0.50%	Reduced -745.4k	-745,428 -29.3%
44	CREDICORP LTD COM BAP	BAP	850,620	$331.4m0.50%	0.50%	Added +257.3k	+257,344 43.4%
45	LINDE PLC SHS LIN	LIN	633,622	$328.8m0.50%	0.50%	Reduced -21.3k	-21,325 -3.3%
46	CADENCE DESIGN SYSTEM INC COM CDNS	CDNS	842,895	$316.4m0.48%	0.48%	Reduced -53.4k	-53,430 -6.0%
47	CHUBB LIMITED COM CB	CB	926,591	$315.7m0.48%	0.48%	Reduced -45.2k	-45,153 -4.7%
48	COCA COLA CO COM KO	KO	3,863,144	$314.0m0.48%	0.48%	Reduced -249.5k	-249,456 -6.1%
49	SCHWAB CHARLES CORP COM SCHW	SCHW	3,346,506	$308.8m0.47%	0.47%	Added +482.7k	+482,691 16.9%
50	RB GLOBAL INC COM RBA	RBA	2,649,048	$308.5m0.47%	0.47%	Added +457.2k	+457,173 20.9%
51	WASTE MGMT INC DEL COM WM	WM	1,339,600	$298.6m0.45%	0.45%	Reduced -46.8k	-46,775 -3.4%
52	GRUPO AEROPUERTO DEL PACIFIC SPON ADS B PAC	PAC	1,174,118	$297.2m0.45%	0.45%	Added +1.5k	+1,484 0.1%
53	HDFC BANK LTD SPONSORED ADS HDB	HDB	11,419,324	$295.0m0.45%	0.45%	Added +482.2k	+482,235 4.4%
54	TERNIUM SA SPONSORED ADS TX	TX	6,383,724	$272.6m0.41%	0.41%	Added +47.6k	+47,597 0.8%
55	EXXON MOBIL CORP COM XOM	XOM	1,984,934	$271.4m0.41%	0.41%	Reduced -110.5k	-110,492 -5.3%
56	TRANE TECHNOLOGIES PLC SHS TT	TT	551,827	$271.0m0.41%	0.41%	Reduced -96.3k	-96,266 -14.8%
57	SCHLUMBERGER LTD COM STK SLB	SLB	5,643,969	$262.4m0.40%	0.40%	Reduced -2.2m	-2,215,933 -28.2%
58	CENCORA INC COM COR	COR	922,901	$261.2m0.40%	0.40%	Added +772.4k	+772,436 513.4%
59	MARSH & MCLENNAN COS INC COM MRSH	MRSH	1,516,945	$252.8m0.38%	0.38%	Reduced -106.8k	-106,810 -6.6%
60	AUTODESK INC COM ADSK	ADSK	1,274,794	$247.8m0.38%	0.38%	Added +26.0k	+25,986 2.1%
61	EQUIFAX INC COM EFX	EFX	1,552,857	$246.5m0.37%	0.37%	Added +316.1k	+316,110 25.6%
62	EATON CORP PLC SHS ETN	ETN	567,543	$241.8m0.37%	0.37%	Added +11.6k	+11,574 2.1%
63	TERADYNE INC COM TER	TER	496,498	$240.2m0.36%	0.36%	Reduced -334.5k	-334,466 -40.2%
64	LAM RESEARCH CORP COM NEW LRCX	LRCX	553,755	$240.0m0.36%	0.36%	Reduced -176.1k	-176,080 -24.1%
65	MERCK & CO INC COM MRK	MRK	1,843,591	$236.9m0.36%	0.36%	Reduced -1.4m	-1,410,740 -43.4%
66	BANK NEW YORK MELLON CORP COM BNY	BNY	1,619,440	$234.2m0.35%	0.35%	Added +943.4k	+943,418 139.6%
67	TESLA INC COM TSLA	TSLA	553,524	$232.8m0.35%	0.35%	Added +42.4k	+42,354 8.3%
68	BOSTON SCIENTIFIC CORP COM BSX	BSX	5,343,777	$228.1m0.35%	0.35%	Added +463.3k	+463,273 9.5%
69	UNITEDHEALTH GROUP INC COM UNH	UNH	520,103	$216.2m0.33%	0.33%	Reduced -8.4k	-8,427 -1.6%
70	ISHARES TR CORE S&P500 ETF IVV	IVV	280,547	$210.1m0.32%	0.32%	Reduced -10.6k	-10,558 -3.6%
71	US BANCORP DEL COM NEW USB	USB	3,472,703	$209.8m0.32%	0.32%	Added +547.4k	+547,448 18.7%
72	CITIGROUP INC COM NEW C	C	1,470,723	$205.8m0.31%	0.31%	Added +1.3m	+1,338,278 1010.4%
73	GE AEROSPACE COM NEW GE	GE	550,683	$205.8m0.31%	0.31%	Added +27.1k	+27,143 5.2%
74	BARRICK MNG CORP COM SHS B	B	5,583,038	$205.1m0.31%	0.31%	Added +1.7m	+1,745,196 45.5%
75	ARCOS DORADOS HOLDINGS INC SHS CLASS -A - ARCO	ARCO	24,687,429	$199.0m0.30%	0.30%	Added +1.5m	+1,512,588 6.5%
76	TJX COS INC NEW COM TJX	TJX	1,288,989	$195.3m0.30%	0.30%	Reduced -210.7k	-210,676 -14.1%
77	PEPSICO INC COM PEP	PEP	1,426,385	$193.1m0.29%	0.29%	Added +18.7k	+18,654 1.3%
78	MASTERCARD INCORPORATED CL A MA	MA	367,461	$188.7m0.29%	0.29%	Added +340	+340 0.1%
79	IQVIA HLDGS INC COM IQV	IQV	975,420	$188.5m0.29%	0.29%	Reduced -883.4k	-883,414 -47.5%
80	BLACKSTONE INC COM BX	BX	1,576,198	$185.5m0.28%	0.28%	Added +67.0k	+66,987 4.4%
81	INGERSOLL RAND INC COM IR	IR	2,234,165	$183.2m0.28%	0.28%	Added +352.0k	+352,022 18.7%
82	UNILEVER PLC SPON ADR NEW UL	UL	3,039,810	$182.8m0.28%	0.28%	Added +245.2k	+245,210 8.8%
83	COSTCO WHSL CORP NEW COM COST	COST	194,028	$181.5m0.27%	0.27%	Added +13.2k	+13,158 7.3%
84	TOTALENERGIES SE ACT TTE	TTE	2,302,845	$178.9m0.27%	0.27%	Reduced -357.1k	-357,133 -13.4%
85	HOME DEPOT INC COM HD	HD	503,139	$177.4m0.27%	0.27%	Reduced -47.4k	-47,411 -8.6%
86	ACCENTURE PLC IRELAND SHS CLASS A ACN	ACN	1,417,529	$176.4m0.27%	0.27%	Reduced -26.4k	-26,357 -1.8%
87	LOCKHEED MARTIN CORP COM LMT	LMT	341,001	$173.7m0.26%	0.26%	Added +18.9k	+18,926 5.9%
88	CBRE GROUP INC CL A CBRE	CBRE	1,288,255	$173.5m0.26%	0.26%	Added +162.6k	+162,552 14.4%
89	STRYKER CORPORATION COM SYK	SYK	545,871	$171.9m0.26%	0.26%	Added +495.0k	+495,042 973.9%
90	S&P GLOBAL INC COM SPGI	SPGI	421,533	$171.7m0.26%	0.26%	Reduced -209.0k	-209,042 -33.1%
91	COHERENT CORP COM COHR	COHR	430,945	$170.0m0.26%	0.26%	Reduced -68.7k	-68,719 -13.8%
92	SUNCOR ENERGY INC NEW COM SU	SU	3,127,325	$168.1m0.25%	0.25%	Added +231.9k	+231,865 8.0%
93	IPG PHOTONICS CORP COM IPGP	IPGP	1,427,735	$167.5m0.25%	0.25%	Added +53.3k	+53,275 3.9%
94	COGNEX CORP COM CGNX	CGNX	2,297,887	$166.4m0.25%	0.25%	Added +826.9k	+826,860 56.2%
95	ZEBRA TECHNOLOGIES CORPORATI CL A ZBRA	ZBRA	628,551	$165.5m0.25%	0.25%	Added +4.6k	+4,586 0.7%
96	VISTA ENERGY S.A.B. DE C.V. SPONSORED ADS VIST	VIST	2,589,817	$165.2m0.25%	0.25%	Added +1.2m	+1,230,199 90.5%
97	TRIMBLE INC COM TRMB	TRMB	3,089,187	$158.1m0.24%	0.24%	Added +795.1k	+795,121 34.7%
98	KB FINL GROUP INC SPONSORED ADR KB	KB	1,498,937	$157.3m0.24%	0.24%	Added +41.4k	+41,400 2.8%
99	JPMORGAN CHASE & CO COM JPM	JPM	478,470	$156.6m0.24%	0.24%	Added +61.4k	+61,354 14.7%
100	COLGATE PALMOLIVE CO COM CL	CL	1,672,347	$153.3m0.23%	0.23%	Reduced -346.1k	-346,116 -17.1%

Sold out since Q1 2026

Security	Ticker	Shares held before	Value then
HONEYWELL INTL INC		107,794	$48.7m107.8k shares
CARNIVAL PLC CUK	CUK	696,598	$18.0m696.6k shares
PRIMORIS SVCS CORP PRIM	PRIM	102,639	$14.7m102.6k shares
COTERRA ENERGY INC CTRA	CTRA	282,768	$9.9m282.8k shares
CARLYLE GROUP INC CG	CG	160,477	$7.8m160.5k shares
THERMON GROUP HLDGS INC		147,930	$7.5m147.9k shares
DIEBOLD NIXDORF INC DBD	DBD	97,001	$7.3m97.0k shares
ENHABIT INC EHAB	EHAB	481,889	$6.8m481.9k shares
FABRINET FN	FN	11,322	$5.9m11.3k shares
AES CORP AES	AES	408,817	$5.8m408.8k shares
FRESH DEL MONTE PRODUCE INC DMC	DMC	138,416	$5.6m138.4k shares
PERDOCEO ED CORP PRDO	PRDO	146,199	$5.4m146.2k shares
UNITED STS LIME & MINERALS I USLM	USLM	41,239	$5.4m41.2k shares
HOME BANCSHARES INC HOMB	HOMB	194,433	$5.2m194.4k shares
BIO RAD LABS INC BIO	BIO	18,290	$5.1m18.3k shares
ARCOSA INC ACA	ACA	45,947	$4.9m45.9k shares
METHANEX CORP MEOH	MEOH	80,562	$4.8m80.6k shares
ISHARES TR ITOT	ITOT	32,865	$4.7m32.9k shares
GREAT LAKES DREDGE & DOCK CO GLDD	GLDD	269,389	$4.6m269.4k shares
AUTONATION INC AN	AN	22,813	$4.5m22.8k shares
BANKUNITED INC BKU	BKU	92,520	$4.2m92.5k shares
AVANOS MED INC AVNS	AVNS	282,642	$4.0m282.6k shares
INSTEEL INDS INC IIIN	IIIN	116,990	$3.9m117.0k shares
MCGRATH RENTCORP MGRC	MGRC	35,155	$3.9m35.2k shares
SELECTIVE INS GROUP INC SIGI	SIGI	50,809	$3.8m50.8k shares

Options (notional value)

Underlying	Ticker	Type	Shares controlled	Notional	Change
BRIDGEBIO PHARMA INC BBIO · Put	BBIO	Put	24,000	$1.8m24.0k shares	Reduced
INDIE SEMICONDUCTOR INC INDI · Put	INDI	Put	250,000	$1.1m250.0k shares	Unchanged
BILL HOLDINGS INC BILL · Call	BILL	Call	25,000	$904.0k25.0k shares	New

Stakes above 5%

Companies where this manager has reported owning more than 5% of a class of shares, on Schedule 13D (may seek influence) or 13G (passive): its latest filing for each, from 19 Dec 2024 on.

Company	Ticker	Stake	Change	Schedule	Last filed
ARCOS DORADOS HOLDINGS INC ARCO · 13G · filed 2026-08-14	ARCO	18.9%≈ $199.0m	+1.2 pts	13G	2026-08-14
TAIWAN FD INC TWN · 13G · filed 2026-05-15	TWN	16.3%≈ $88.8m	-1.7 pts	13G	2026-05-15
NEW GERMANY FD INC GF · 13G · filed 2025-05-15	GF	14.2%≈ $26.3m	+4.1 pts	13G	2025-05-15
MORGAN STANLEY CHINA A SH FD XCAFX · 13G · filed 2026-08-14	XCAFX	13.1%≈ $36.7m	+1.6 pts	13G	2026-08-14
JAPAN SMALLER CAPITALIZATION JOF · 13G · filed 2025-12-03	JOF	12.3%≈ $41.0m	+4.2 pts	13G	2025-12-03
KOREA FD INC KF · 13G · filed 2026-05-15	KF	9.1%≈ $28.4m	-4.2 pts	13G	2026-05-15
TEMPLETON DRAGON FD INC TDF · 13G · filed 2026-05-15	TDF	7.3%≈ $20.1m	-4.4 pts	13G	2026-05-15
GENERAL AMERN INVS CO INC GAM · 13G · filed 2026-05-15	GAM	6.7%≈ $100.8m	+1.1 pts	13G	2026-05-15
MORGAN STANLEY INDIA INVT FD IIF · 13G · filed 2026-05-15	IIF	6.5%≈ $13.9m	-1.7 pts	13G	2026-05-15
INTERNATIONAL GAME TECHNOLOG BRSL · 13G · filed 2026-08-14	BRSL	5.5%≈ $107.9m	+0.6 pts	13G	2026-08-14
TOTAL RETURN SECURITIES FUND SWZ · 13G · filed 2025-08-14	SWZ	5.1%≈ $4.0m	-6.7 pts	13G	2025-08-14