Lazard Freres Gestion S.A.S.
PARIS, I0
$5.8bn in 115 US stocks at the end of 30 June 2026. The top 10 are 55.0% of the money. It changed about 10.7% of the portfolio this quarter.
Value
$5.8bn
Stocks
115
Top 10 share
55.0%
Turnover
10.7%
What changed this quarter
New
Bought for the first time this quarter.
- Honeywell InternationalHON0.5% of the fund
- Smurfit WestrockSW0.5% of the fund
- Honeywell AerospaceHONA0.2% of the fund
- Sunbelt Rentals HoldingsSUNB0.1% of the fund
- Spdr Index SHS FDSFEZ<0.1% of the fund
- CitigroupC<0.1% of the fund
- Ishares TREEM<0.1% of the fund
Added
Bought more of a stock they already held.
- AlphabetGOOGL8.5% of the fund+7%
- MicrosoftMSFT7.5% of the fund+10%
- AppleAAPL6.8% of the fund+8%
- NvidiaNVDA6.6% of the fund+31%
- VisaV4.6% of the fund+4%
- RTXRTX3.6% of the fund+5%
- Motorola SolutionsMSI3.2% of the fund+3%
- Meta PlatformsMETA2.9% of the fund+58%
- Parker-HannifinPH2.4% of the fund+16%
- AmphenolAPH2.3% of the fund+10%
- BroadcomAVGO2.0% of the fund+32%
- Otis WorldwideOTIS1.8% of the fund+6%
- Eli LillyLLY1.8% of the fund+9%
- S&P GlobalSPGI1.6% of the fund+9%
- Estee Lauder CompaniesEL1.6% of the fund+3%
- State STR Spdr S&P 500 ETF TSPY1.1% of the fund+17%
- JPMorgan ChaseJPM1.1% of the fund+8%
- Moody'sMCO1.0% of the fund+10%
- NikeNKE1.0% of the fund+11%
- Wells Fargo & CompanyWFC0.8% of the fund+9%
- Intercontinental ExchangeICE0.8% of the fund+6%
- Mettler Toledo InternationalMTD0.8% of the fund+18%
- Walt DisneyDIS0.8% of the fund+3%
- Idexx LaboratoriesIDXX0.7% of the fund+12%
- Micron TechnologyMU0.5% of the fund+336%
Cut
Sold some of their stake.
- Applied MaterialsAMAT4.6% of the fund-18%
- KLAKLAC1.6% of the fund-23%
- ZoetisZTS1.2% of the fund-9%
- Marriott InternationalMAR1.0% of the fund-4%
- AccentureACN0.9% of the fund-34%
- EcolabECL0.9% of the fund-11%
- Ross StoresROST0.8% of the fund-21%
- Mondelez InternationalMDLZ0.8% of the fund-7%
- Martin Marietta MaterialsMLM0.8% of the fund-7%
- T-Mobile USTMUS0.6% of the fund-6%
- Becton DickinsonBDX0.3% of the fund-59%
- Berkshire HathawayBRK-B0.2% of the fund-36%
- Advanced Micro DevicesAMD0.2% of the fund-12%
- Quanta ServicesPWR<0.1% of the fund-10%
- Johnson Controls InternationalJCI<0.1% of the fund-12%
- Home DepotHD<0.1% of the fund-53%
- SalesforceCRM<0.1% of the fund-21%
- SynopsysSNPS<0.1% of the fund-28%
- Tyler TechnologiesTYL<0.1% of the fund-19%
- NextpowerNXT<0.1% of the fund-15%
- Johnson & JohnsonJNJ<0.1% of the fund-10%
- Vanguard Scottsdale FDSVTWO<0.1% of the fund-4%
- First SolarFSLR<0.1% of the fund-25%
- Berkshire Hathaway INC DELBRK-A<0.1% of the fund-86%
- IntelINTC<0.1% of the fund-5%
Sold out
Sold their entire stake.
- Honeywell InternationalHON-100%
- AppLovinAPP-100%
- SamsaraIOT-100%
- PinterestPINS-100%
- CVS HealthCVS-100%
- DuolingoDUOL-100%
- DanaherDHR-100%
- McDonald'sMCD-100%
- NordsonNDSN-100%
- Marsh & McLennan CompaniesMRSH-100%
- Cbre GroupCBRE-100%
- Jacobs SolutionsJ-100%
- BallBALL-100%
- NewmontNEM-100%
- Alibaba Group HldgBABA-100%
Holdings
- State STR Spdr S&P 500 ETF TSPY
- Share
- 1.1%
- Value
- $62m
- Shares
- 82,908
+17%
- Honeywell AerospaceHONA
- Share
- 0.2%
- Value
- $12m
- Shares
- 55,478
New
- Invesco QQQ TRQQQ
- Share
- 0.1%
- Value
- $6m
- Shares
- 8,561
+78%
- ARM HoldingsARM
- Share
- <0.1%
- Value
- $4m
- Shares
- 12,430
Held
- Ishares TRIVV
- Share
- <0.1%
- Value
- $2m
- Shares
- 3,150
Held
- Invesco Exchange Traded FD TRSP
- Share
- <0.1%
- Value
- $2m
- Shares
- 7,400
Held
- Cboe Global MktsCBOE
- Share
- <0.1%
- Value
- $1m
- Shares
- 4,850
Held
- Ishares TRIGM
- Share
- <0.1%
- Value
- $1m
- Shares
- 7,110
Held
- Vanguard Scottsdale FDSVTWO
- Share
- <0.1%
- Value
- $798,000
- Shares
- 6,579
-4%
- Berkshire Hathaway INC DELBRK-A
- Share
- <0.1%
- Value
- $748,000
- Shares
- 1
-86%
- Ishares TRIJH
- Share
- <0.1%
- Value
- $697,000
- Shares
- 9,050
Held
- Ishares TRIJR
- Share
- <0.1%
- Value
- $682,000
- Shares
- 4,602
Held
| Company | Share of fund | Value | Shares | Change |
|---|---|---|---|---|
| AlphabetGOOGL | 8.5% | $491m | 1,375,171 | +7% |
| MicrosoftMSFT | 7.5% | $435m | 1,166,842 | +10% |
| AppleAAPL | 6.8% | $392m | 1,355,839 | +8% |
| Amazon.comAMZN | 6.7% | $389m | 1,631,428 | Held |
| NvidiaNVDA | 6.6% | $383m | 1,916,325 | +31% |
| VisaV | 4.6% | $265m | 771,906 | +4% |
| Applied MaterialsAMAT | 4.6% | $263m | 363,875 | -18% |
| RTXRTX | 3.6% | $205m | 1,082,603 | +5% |
| Motorola SolutionsMSI | 3.2% | $185m | 445,079 | +3% |
| Meta PlatformsMETA | 2.9% | $165m | 292,388 | +58% |
| MerckMRK | 2.6% | $148m | 1,149,281 | Held |
| Parker-HannifinPH | 2.4% | $139m | 141,805 | +16% |
| AmphenolAPH | 2.3% | $134m | 758,370 | +10% |
| MedtronicMDT | 2.1% | $123m | 1,570,835 | Held |
| BroadcomAVGO | 2.0% | $116m | 306,411 | +32% |
| Costco WholesaleCOST | 2.0% | $113m | 120,877 | Held |
| Otis WorldwideOTIS | 1.8% | $101m | 1,417,110 | +6% |
| Eli LillyLLY | 1.8% | $101m | 84,549 | +9% |
| KLAKLAC | 1.6% | $93m | 309,186 | -23% |
| S&P GlobalSPGI | 1.6% | $92m | 238,298 | +9% |
| Estee Lauder CompaniesEL | 1.6% | $90m | 1,138,849 | +3% |
| Morgan StanleyMS | 1.5% | $84m | 401,471 | Held |
| Colgate-PalmoliveCL | 1.2% | $70m | 761,286 | Held |
| ZoetisZTS | 1.2% | $69m | 955,904 | -9% |
| State STR Spdr S&P 500 ETF TSPY | 1.1% | $62m | 82,908 | +17% |
| JPMorgan ChaseJPM | 1.1% | $61m | 185,508 | +8% |
| Marriott InternationalMAR | 1.0% | $59m | 158,002 | -4% |
| Moody'sMCO | 1.0% | $58m | 128,644 | +10% |
| NikeNKE | 1.0% | $56m | 1,357,892 | +11% |
| AccentureACN | 0.9% | $55m | 439,707 | -34% |
| EcolabECL | 0.9% | $54m | 194,594 | -11% |
| Wells Fargo & CompanyWFC | 0.8% | $48m | 586,166 | +9% |
| Intercontinental ExchangeICE | 0.8% | $46m | 375,371 | +6% |
| Mettler Toledo InternationalMTD | 0.8% | $45m | 35,279 | +18% |
| Ross StoresROST | 0.8% | $44m | 208,842 | -21% |
| Mondelez InternationalMDLZ | 0.8% | $44m | 765,830 | -7% |
| Walt DisneyDIS | 0.8% | $44m | 457,055 | +3% |
| Martin Marietta MaterialsMLM | 0.8% | $44m | 75,935 | -7% |
| ChevronCVX | 0.7% | $43m | 258,038 | Held |
| Idexx LaboratoriesIDXX | 0.7% | $40m | 75,574 | +12% |
| T-Mobile USTMUS | 0.6% | $35m | 205,832 | -6% |
| AlphabetGOOG | 0.5% | $31m | 86,821 | Held |
| Honeywell InternationalHON | 0.5% | $28m | 127,116 | New |
| Smurfit WestrockSW | 0.5% | $28m | 608,900 | New |
| Micron TechnologyMU | 0.5% | $26m | 22,562 | +336% |
| Spotify TechnologySPOT | 0.4% | $23m | 49,279 | +17% |
| Becton DickinsonBDX | 0.3% | $19m | 125,504 | -59% |
| Berkshire HathawayBRK-B | 0.2% | $13m | 25,077 | -36% |
| Honeywell AerospaceHONA | 0.2% | $12m | 55,478 | New |
| Boston ScientificBSX | 0.2% | $10m | 241,113 | +11% |
| Advanced Micro DevicesAMD | 0.2% | $9m | 15,571 | -12% |
| Sunbelt Rentals HoldingsSUNB | 0.1% | $8m | 106,911 | New |
| Procter & GamblePG | 0.1% | $7m | 50,500 | Held |
| Invesco QQQ TRQQQ | 0.1% | $6m | 8,561 | +78% |
| ARM HoldingsARM | <0.1% | $4m | 12,430 | Held |
| PrologisPLD | <0.1% | $3m | 20,490 | +13% |
| Cadence Design SystemsCDNS | <0.1% | $3m | 6,870 | Held |
| NetflixNFLX | <0.1% | $2m | 34,500 | Held |
| Ishares TRIVV | <0.1% | $2m | 3,150 | Held |
| American ExpressAXP | <0.1% | $2m | 6,460 | Held |
| Bank of AmericaBAC | <0.1% | $2m | 37,836 | Held |
| Quanta ServicesPWR | <0.1% | $2m | 2,770 | -10% |
| Hilton Worldwide HoldingsHLT | <0.1% | $2m | 5,920 | +7% |
| Johnson Controls InternationalJCI | <0.1% | $2m | 13,085 | -12% |
| Home DepotHD | <0.1% | $2m | 5,270 | -53% |
| Waste ManagementWM | <0.1% | $2m | 7,596 | +23% |
| ServiceNowNOW | <0.1% | $2m | 16,945 | Held |
| Uber TechnologiesUBER | <0.1% | $2m | 23,300 | Held |
| American Water Works CompanyAWK | <0.1% | $2m | 12,750 | +15% |
| Invesco Exchange Traded FD TRSP | <0.1% | $2m | 7,400 | Held |
| SalesforceCRM | <0.1% | $2m | 9,840 | -21% |
| SynopsysSNPS | <0.1% | $2m | 3,450 | -28% |
| Verisk AnalyticsVRSK | <0.1% | $1m | 6,880 | Held |
| XylemXYL | <0.1% | $1m | 10,100 | +21% |
| Cboe Global MktsCBOE | <0.1% | $1m | 4,850 | Held |
| Ishares TRIGM | <0.1% | $1m | 7,110 | Held |
| Tyler TechnologiesTYL | <0.1% | $1m | 3,910 | -19% |
| NextpowerNXT | <0.1% | $1m | 9,270 | -15% |
| VertexVERX | <0.1% | $1m | 95,660 | Held |
| Cigna GroupCI | <0.1% | $1m | 3,916 | Held |
| Carrier GlobalCARR | <0.1% | $980,000 | 13,365 | Held |
| Tetra TechTTEK | <0.1% | $962,000 | 33,330 | +29% |
| Goldman Sachs GroupGS | <0.1% | $941,000 | 931 | Held |
| Johnson & JohnsonJNJ | <0.1% | $898,000 | 3,536 | -10% |
| Vanguard Scottsdale FDSVTWO | <0.1% | $798,000 | 6,579 | -4% |
| First SolarFSLR | <0.1% | $776,000 | 3,290 | -25% |
| Owens CorningOC | <0.1% | $770,000 | 4,850 | Held |
| Acuity Inc. (de)AYI | <0.1% | $753,000 | 2,000 | Held |
| Berkshire Hathaway INC DELBRK-A | <0.1% | $748,000 | 1 | -86% |
| Analog DevicesADI | <0.1% | $732,000 | 1,844 | Held |
| IntelINTC | <0.1% | $723,000 | 5,183 | -5% |
| ExxonMobil HoldingsXOM | <0.1% | $704,000 | 5,150 | -7% |
| Ishares TRIJH | <0.1% | $697,000 | 9,050 | Held |
| Clearway EnergyCWEN | <0.1% | $691,000 | 20,243 | Held |
| Ishares TRIJR | <0.1% | $682,000 | 4,602 | Held |
| Coca-ColaKO | <0.1% | $650,000 | 8,000 | Held |
| StrykerSYK | <0.1% | $629,000 | 2,000 | Held |
| Clean HarborsCLH | <0.1% | $609,000 | 2,040 | Held |
| International Business MachinesIBM | <0.1% | $584,000 | 2,078 | Held |
| TeslaTSLA | <0.1% | $550,000 | 1,310 | Held |
Showing the largest 100 of 115.
Over time and by industry
Value over time
Jun '25
Dec '25
Jun '26
Value is up 20.5% since 30 June 2025.
Where the money is
Technology36.7%
Media & telecom13.7%
Financial services11.7%
Health care9.7%
Retail & consumer9.6%
Industrials8.7%
Everyday goods5.6%
Materials2.2%
Energy0.8%
Real estate0.0%
Utilities0.0%
Other1.4%
From the fund's 13F filings. They list US stocks and options only, 45 days after each quarter, and leave out cash, bonds, shorts and foreign shares.