SEC 13F Intelligence

Managers / Q4 2021 · view latest →

Lazard Freres Gestion S.A.S.

CIK 0001426748 · 25 RUE DE COURCELLES, PARIS, I0, 75008 · 0144130421

Reported Value
$3.7B
Q4 2021
Positions
68
Filings on Record
22
2021–present window
Filed
Jan 20, 2022
original filing

Summary

Lazard Freres Gestion S.a.s. reported $3.7B in U.S.-listed holdings across 68 positions for Q4 2021.

Its largest position, MSFT, represents 8.0% of the portfolio.

Compared with Q3 2021, the fund opened 3 new positions and exited 7.

Portfolio Metrics

Turnover
+8.9%
vs prior filed quarter
Top-10 Concentration
+48.7%
share of reported value
Largest Position
+8.0%
Microsoft
New / Exited
3 / 7
positions this quarter

Methodology: turnover is min(value bought, value sold) ÷ average reported value across the two quarters — value-based, so market moves inflate it slightly versus a share-based measure. Concentration and largest position are shares of the filing’s total reported value, options excluded, with multiple share classes and repeated sub-manager rows for the same issuer combined into one position — the same rule the holdings table uses by default. New/exited counts compare against the prior filed quarter. All figures derive solely from the fund’s 13F filings.

Reported Value by Quarter

13F Reported Value
Q4 ’20: $3.1BQ4 ’20Q1 ’21: $2.9BQ2 ’21: $3.1BQ3 ’21: $3.6BQ3 ’21Q4 ’21: $3.7BQ1 ’22: $3.3BQ2 ’22: $2.8BQ2 ’22Q3 ’22: $2.6BQ4 ’22: $2.8BQ1 ’23: $2.7BQ1 ’23Q2 ’23: $3.3BQ3 ’23: $3.1BQ4 ’23: $3.5BQ4 ’23Q1 ’24: $4.0BQ2 ’24: $4.3BQ3 ’24: $4.7BQ3 ’24Q4 ’24: $5.0BQ1 ’25: $4.1BQ2 ’25: $4.8BQ2 ’25Q3 ’25: $5.3BQ4 ’25: $5.6BQ1 ’26: $5.1BQ1 ’26filingsflow.com

Portfolio Composition

By security type
Common Stock: 98.9%ETP: 1.0%ADR: 0.0%
  • Common Stock · 98.9% · $3.7B
  • ETP · 1.0% · $38M
  • ADR · 0.0% · $831,000

Quarter-over-Quarter Changes full breakdown →

vs Q3 2021 (amended baseline)

IssuerMoveShare ΔShares nowValue ΔValue now
ZTSZOETIS INCNEW+415.1K415.1K+$98M$98M
MMM3M CoNEW+400.9K400.9K+$68M$68M
NEENEXTERA ENERGYNEW+2.3K2.3K+$214,000$214,000
PGPROCTER & GAMBLADDED+1.38M1.63M+$122M$158M
JPMJPMORGAN CHASEADDED+4.3K5.6K+$213,000$428,000
LINDE PUBLIC LTSOLD OUT−432.7K0−$127M$0
OTISOTIS WORLDWIDESOLD OUT−1.33M0−$110M$0
GLDSPDR GOLD TRUSTSOLD OUT−5.0K0−$806,000$0

Value changes conflate price moves with buying and selling — share changes are the real signal. Share counts are not split-adjusted.

Holdings — Q4 2021

67 positions (from 68 filing rows — )
Export to Excel
#IssuerClass% PortfolioValue ↓Shares
1MSFTMICROSOFT CORPhistory →Microsoft Corp7.97%$295M922.1K
2AMZNAMAZON.COM INChistory →Amazon.com Inc6.90%$255M79.1K
3GOOGLALPHABET INC Ahistory →Alphabet Inc. Class A6.21%$230M84.5K
4ACNACCENTURE PLChistory →Accenture Plc4.96%$184M465.3K
5VVISA INChistory →Visa Inc Cl A4.58%$170M826.2K
6BDXBECTON DICKINSOhistory →Becton Dickinson & Co3.77%$139M574.2K
7RTXRAYTHEON TECHhistory →Raytheon Technologies Corp3.76%$139M1.68M
8ELESTEE LAUDERhistory →Estee Lauder Companies Inc Cl A3.69%$137M382.1K
9MRKMERCK & CO INChistory →Merck & Co Inc3.42%$126M1.71M
10HDHOME DEPOT INChistory →Home Depot Inc3.41%$126M315.2K
11CVXCHEVRON CORPhistory →Chevron Corp3.25%$120M1.05M
12GOOGALPHABET INC Chistory →Alphabet Inc. Class C3.17%$117M40.6K
13PGPROCTER & GAM/Uhistory →Otis Worldwide Corp3.14%$116M1.38M
14PHPARKER HANNIFINhistory →Parker Hannifin Corp2.77%$102M339.9K
15ZTSZOETIS INChistory →Zoetis Inc2.64%$98M415.1K
16MSIMOTOROLA SOLhistory →Motorola Solutions Inc2.30%$85M347.6K
17BALLBALL CORPhistory →Ball Corp2.24%$83M915.2K
18BACBANK OF AMERICAhistory →Bank of America Corp1.96%$73M1.80M
19MMM3M Cohistory →3M Co1.84%$68M400.9K
20TXNTEXAS INSTR INChistory →Texas Instruments Inc1.72%$63M377.4K
21MSMORGAN STANLEYhistory →Morgan Stanley1.69%$63M698.5K
22ICEINTERCONTINENhistory →Intercontinental Exchange Inc1.61%$60M472.5K
23APHAMPHENOL CORPhistory →Amphenol Corp New - Cl A1.57%$58M712.0K
24HONHONEYWELL INTLhistory →Honeywell International Inc1.51%$56M290.1K
25MDTMEDTRONIC PLChistory →Medtronic Plc1.37%$51M532.1K
26COSTCOSTCO WHOLEhistory →Costco Wholesale Corp1.37%$51M96.2K
27ECLECOLAB INChistory →Ecolab Inc1.35%$50M230.2K
28CSCOCISCO SYS INChistory →Cisco Systems Inc1.33%$49M875.1K
29DISWALT DISNEY COhistory →Walt Disney Co1.26%$47M331.1K
30JNJJOHN & JOHN COMhistory →Johnson & Johnson1.24%$46M268.7K
31ROSTROSS STORES INChistory →Ross Stores Inc1.23%$45M437.2K
32WFCWELLS FARGO COhistory →Wells Fargo & Co New1.22%$45M1.02M
33EOGEOG RESOURCEShistory →EOG Resources Inc1.19%$44M530.8K
34PGPROCTER & GAMBLhistory →Procter & Gamble Co1.14%$42M257.1K
35SPYSPDR S&P 500history →SPDR S&P 500 ETF Trust1.03%$38M80.3K
36PEPPEPSICO INChistory →Pepsico Inc1.01%$38M230.1K
37CVSCVS HEALTH CORPhistory →CVS Health Corp0.96%$35M370.9K
38MDLZMONDELEZ INTLhistory →Mondelez International Inc0.90%$33M543.3K
39CLCOLGATE PALMOLhistory →Colgate Palmolive Co0.77%$29M357.8K
40AAPLAPPLE INChistory →Apple Inc0.76%$28M158.9K
41BRK/BBERKSHIRE-HAThistory →Berkshire Hathaway Inc - Cl B0.48%$18M59.1K
42BRK/ABERKSHIRE-HAT ABerkshire Hathaway - Cl A0.23%$9M19
43CRMSALESFORCE.COMSalesforce.com Inc0.15%$5M21.4K
44UNHUNITEDHEALTH GRUnitedHealth Group Inc0.13%$5M9.6K
45METAMETA PLATFORMSMeta Platforms Inc0.13%$5M13.8K
46IPGPIPG PHOTONICSIPG Photonics Corp0.12%$5M26.8K
47SCHWSCHWAB CHARLESCharles Schwab Corp New0.12%$5M54.1K
48BWABORG-WARNER INCBorg Warner Inc0.09%$3M72.1K
49CARRCARRIER GLOBALCarrier Global Corp0.05%$2M31.5K
50NEMNEWMONT GOLDCONewmont Goldcorp Corp0.04%$2M25.0K
51AXPAMER EXPRESS COAmerican Express Co0.04%$1M8.7K
52ABXBARRICK GOLD COBarrick Gold Corp0.03%$1M65.5K
53JMIAJUMIA TECHN-ADRJumia Technologies AG ADR0.02%$831,00072.9K
54ADBEADOBE INCAdobe Inc0.02%$665,0001.2K
55CLCOLGATE PALMO/UCoca Cola Co0.02%$613,00010.4K
56TSLATESLA INCTesla Inc.0.01%$550,000516
57SYKSTRYKER CORPStryker Corp0.01%$534,0002.0K
58NFLXNETFLIX INCNetFlix Inc0.01%$506,000828
59JPMJPMORGAN CHASEIntel Corp · JPMorgan Chase & Co0.01%$428,0005.6K
60NVDANVIDIA CORPNvidia Corp0.01%$407,0001.4K
61SLBSCHLUMBERGER LTSchlumberger Ltd0.01%$397,00013.3K
62PFEPFIZER INCPfizer Inc0.01%$368,0006.3K
63ABTABBOTT LABSAbbott Laboratories0.01%$351,0002.5K
64EXMOCEXXON MOBILExxon Mobil Corp0.01%$257,0004.2K
65QQQINVESCO QQQInvesco QQQ Trust Series 10.01%$228,000575
66NEENEXTERA ENERGYNextEra Energy Inc0.01%$214,0002.3K
67ORCLORACLE CORPOracle Corp0.01%$211,0002.4K

Filing History

QuarterReported ValuePositionsFiledTypeLinks
Q1 2026$5.1B123May 7, 202613F-HRchanges · EDGAR ↗
Q4 2025$5.6B112Feb 6, 202613F-HRchanges · EDGAR ↗
Q3 2025$5.3B112Oct 21, 202513F-HRchanges · EDGAR ↗
Q2 2025$4.8B110Jul 31, 202513F-HRchanges · EDGAR ↗
Q1 2025$4.1B103May 7, 202513F-HRchanges · EDGAR ↗
Q4 2024$5.0B101Feb 10, 202513F-HRchanges · EDGAR ↗
Q3 2024$4.7B97Nov 13, 202413F-HRchanges · EDGAR ↗
Q2 2024$4.3B93Jul 29, 202413F-HRchanges · EDGAR ↗
Q1 2024$4.0B77May 10, 202413F-HRchanges · EDGAR ↗
Q4 2023$3.5B78Feb 8, 202413F-HRchanges · EDGAR ↗
Q3 2023$3.1B79Nov 9, 202313F-HRchanges · EDGAR ↗
Q2 2023$3.3B79Aug 10, 202313F-HRchanges · EDGAR ↗
Q1 2023$2.7B78May 9, 202313F-HRchanges · EDGAR ↗
Q4 2022$2.8B74Feb 8, 202313F-HRchanges · EDGAR ↗
Q3 2022$2.6B74Nov 10, 202213F-HRchanges · EDGAR ↗
Q2 2022$2.8B65Jul 28, 202213F-HRchanges · EDGAR ↗
Q1 2022$3.3B70May 10, 202213F-HRchanges · EDGAR ↗
Q4 2021$3.7B68Jan 20, 202213F-HRchanges · EDGAR ↗
Q3 2021$3.6B69Nov 4, 202113F-HRchanges · EDGAR ↗
Q2 2021$3.1B68Aug 3, 202113F-HRchanges · EDGAR ↗
Q1 2021$2.9B86May 5, 202113F-HRchanges · EDGAR ↗
Q4 2020$3.1B87Feb 17, 202113F-HRchanges · EDGAR ↗

13F filings are due up to 45 days after quarter end, so holdings shown here lag the fund’s current book. Source: original SEC filing on EDGAR ↗.