SEC 13F Intelligence

Managers / Q1 2023 · view latest →

Lazard Freres Gestion S.A.S.

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

Reported Value
$2.7B
Q1 2023
Positions
78
Filings on Record
22
2021–present window
Filed
May 9, 2023
original filing

Summary

Lazard Freres Gestion S.a.s. reported $2.7B in U.S.-listed holdings across 78 positions for Q1 2023.

Its largest position, MSFT, represents 9.0% of the portfolio.

Compared with Q4 2022, the fund opened 6 new positions and exited 2.

Portfolio Metrics

Turnover
+5.3%
vs prior filed quarter
Top-10 Concentration
+49.7%
share of reported value
Largest Position
+9.0%
Microsoft
New / Exited
6 / 2
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: 99.5%ETP: 0.5%ADR: 0.0%
  • Common Stock · 99.5% · $2.7B
  • ETP · 0.5% · $14M
  • ADR · 0.0% · $286,000

Quarter-over-Quarter Changes full breakdown →

vs Q4 2022 (amended baseline)

IssuerMoveShare ΔShares nowValue ΔValue now
DISWALT DISNEY CONEW+508.8K508.8K+$45M$45M
AMATAPPLIED MATLS INEW+70.9K70.9K+$8M$8M
IVViSHR CORE S&PNEW+3.1K3.1K+$1M$1M
TMOTHERMO FISHERNEW+544544+$258,000$258,000
CVSCVS HEALTH CORPNEW+4.1K4.1K+$257,000$257,000
JPMJPMORGAN CHA/UNEW+2.2K2.2K+$235,000$235,000
MTDMETTLER INTLSOLD OUT−4050−$513,000$0
FRCBFIRST REPUBLICSOLD OUT−4.1K0−$442,000$0

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

Holdings — Q1 2023

78 positions
Export to Excel
#IssuerClass% PortfolioValue ↓Shares
1MSFTMICROSOFT CORPhistory →MICROSOFT CORP8.97%$243M965.8K
2VVISA INChistory →VISA INC-CLASS A SHARES5.80%$157M797.3K
3MRKMERCK & CO/Uhistory →Merck & Co Inc5.34%$145M1.57M
4AMZNAMAZON.COM INChistory →AMAZON.COM INC5.31%$144M1.61M
5GOOGLALPHABET INC Ahistory →ALPHABET INC-CL A5.02%$136M1.48M
6ACNACCENTURE PLChistory →ACCENTURE PLC-CL A4.50%$122M489.5K
7BDXBECTON DICKIN/Uhistory →Becton Dickinson & Co4.23%$115M534.4K
8RTXRAYTHEON TECHhistory →RAYTHEON TECHNOLOGIES CORP3.68%$100M1.17M
9CVXCHEVRON CORP/Uhistory →Chevron Corp3.51%$95M671.1K
10PHPARKER HANNIFINhistory →PARKER HANNIFIN CORP3.37%$91M311.1K
11OTISOTIS WORLDWIDEhistory →OTIS WORLDWIDE CORP3.03%$82M1.12M
12ELESTEE LAUDERhistory →ESTEE LAUDER COMPANIES-CL A3.02%$82M382.7K
13GOOGALPHABET INC Chistory →ALPHABET INC-CL C2.62%$71M805.5K
14ZTSZOETIS INChistory →ZOETIS INC2.53%$69M472.6K
15MSIMOTOROLA SOLhistory →MOTOROLA SOLUTIONS INC2.27%$61M238.2K
16TXNTEXAS INSTR/Uhistory →Texas Instruments Inc1.90%$52M304.4K
17ECLECOLAB INChistory →ECOLAB INC1.80%$49M333.5K
18MDTMEDTRONIC PLChistory →MEDTRONIC PLC1.80%$49M678.3K
19ICEINTERCONTINENhistory →INTERCONTINENTAL EXCHANGE IN1.78%$48M521.8K
20ROSTROSS STORES INChistory →ROSS STORES INC1.76%$48M503.4K
21COSTCOSTCO WHOLEhistory →COSTCO WHOLESALE CORP1.72%$47M105.2K
22BALLBALL CORP/Uhistory →Ball Corp1.71%$46M953.4K
23DISWALT DISNEY COhistory →WALT DISNEY CO/THE1.66%$45M508.8K
24HONHONEYWELL INTLhistory →HONEYWELL INTERNATIONAL INC1.66%$45M264.0K
25ADBEADOBE INChistory →ADOBE INC1.65%$45M127.8K
26APHAMPHENOL CORPhistory →AMPHENOL CORP-CL A1.61%$44M601.9K
27MSMORGAN STANLEYhistory →MORGAN STANLEY1.59%$43M546.8K
28BACBANK OF AMERICAhistory →BANK OF AMERICA CORP1.51%$41M1.59M
29NKENIKE INC CL Bhistory →NIKE INC -CL B1.26%$34M311.2K
30MDLZMONDELEZ INTL/Uhistory →Mondelez International Inc1.25%$34M541.7K
31WFCWELLS FARGO COhistory →WELLS FARGO & CO1.23%$33M998.5K
32PGPROCTER & GAM/Uhistory →Procter & Gamble Co1.21%$33M261.0K
33PEPPEPSICO INChistory →PEPSICO INC1.21%$33M202.8K
34JNJJOHN & JOHN COMhistory →JOHNSON & JOHNSON1.17%$32M240.7K
35TMUST-MOBIL US INChistory →T-MOBILE US INC1.16%$31M242.8K
36EOGEOG RESOURCES/Uhistory →EOG Resources Inc1.09%$30M289.7K
37KLACKLA CORPhistory →KLA CORP0.89%$24M67.6K
38AAPLAPPLE INC/Uhistory →Apple Inc0.81%$22M159.3K
39CLCOLGATE PALMO/Uhistory →Colgate Palmolive Co0.81%$22M327.0K
40BRK/BBERKSHR HAT B/Uhistory →Berkshire Hathaway Inc Cl B0.47%$13M49.6K
41SPYSPDR S&P 500history →SPDR S&P 500 ETF TRUST0.46%$13M36.5K
42AMATAPPLIED MATLS IAPPLIED MATERIALS INC0.29%$8M70.9K
43HDHOME DEPOT INCHOME DEPOT INC0.27%$7M30.4K
44BRK/ABERKSHIRE-HAT ABERKSHIRE HATHAWAY INC-CL A0.15%$4M10
45CRMSALESFORCE INCSALESFORCE INC0.12%$3M19.5K
46IPGPIPG PHOTONICSIPG PHOTONICS CORP0.08%$2M21.0K
47BWABORG-WARNER INCBORGWARNER INC0.08%$2M49.3K
48MMM3M CO/U3M Co0.06%$2M18.2K
49SCHWSCHWAB CHARLESSCHWAB (CHARLES) CORP0.06%$2M34.7K
50AXPAMER EXPRESS COAMERICAN EXPRESS CO0.04%$1M8.8K
51IVViSHR CORE S&PISHARES CORE S&P 500 ETF0.04%$1M3.1K
52CARRCARRIER GLOBALCARRIER GLOBAL CORP0.03%$903,00023.7K
53JCIJOHNSON CTRL INJOHNSON CONTROLS INTERNATION0.03%$775,00012.9K
54HLTHILTON WORLDHILTON WORLDWIDE HOLDINGS IN0.03%$723,0005.1K
55ADPAUTOMATIC DATAAUTOMATIC DATA PROCESSING0.02%$668,0003.0K
56IPGINTERPUBLIC GROINTERPUBLIC GROUP OF COS INC0.02%$637,00017.1K
57CMECMECME GROUP INC0.02%$622,0003.3K
58NEMNEWMONT GOLDCONEWMONT CORP0.02%$580,00014.0K
59SPGIS&P GLOBAL INCS&P GLOBAL INC0.02%$548,0001.6K
60EMBCEMBECTA CORPEMBECTA CORP0.02%$516,00021.7K
61LLYLILLY ELI & COELI LILLY & CO0.02%$514,0001.8K
62SYKSTRYKER CORPSTRYKER CORP0.02%$483,0002.0K
63KOCOCA COLA COCOCA-COLA CO/THE0.02%$482,0009.2K
64ABXBARRICK GOLD COBARRICK GOLD CORP0.02%$471,00030.0K
65CICIGNA GROUP/THETHE CIGNA GROUP0.02%$439,0001.7K
66TSLATESLA INCTESLA INC0.01%$346,0002.1K
67NVDANVIDIA CORPNVIDIA CORP0.01%$334,0001.4K
68MAMASTERCARD INCMASTERCARD INC - A0.01%$286,000940
69JMIAJUMIA TECHN-ADRJUMIA TECHNOLOGIES AG-ADR0.01%$286,000102.9K
70PFEPFIZER INCPFIZER INC0.01%$269,0007.8K
71TMOTHERMO FISHERTHERMO FISHER SCIENTIFIC INC0.01%$258,000544
72CVSCVS HEALTH CORPCVS HEALTH CORP0.01%$257,0004.1K
73ABTABBOTT LABS/UAbbott Laboratories0.01%$255,0003.0K
74SLBSCHLUMBERGER LTSCHLUMBERGER LTD0.01%$252,0006.1K
75EXMOCEXXON MOBIL/UExxon Mobil Corp0.01%$249,0002.7K
76NFLXNETFLIX INCNETFLIX INC0.01%$249,000871
77CSCOCISCO SYS INCCISCO SYSTEMS INC0.01%$244,0005.6K
78JPMJPMORGAN CHA/UJPMorgan Chase & Co0.01%$235,0002.2K

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 ↗.