SEC 13F Intelligence

Managers / Q2 2023 · view latest →

Lazard Freres Gestion S.A.S.

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

Reported Value
$3.3B
Q2 2023
Positions
79
Filings on Record
22
2021–present window
Filed
Aug 10, 2023
original filing

Summary

Lazard Freres Gestion S.a.s. reported $3.3B in U.S.-listed holdings across 79 positions for Q2 2023.

Its largest position, MSFT, represents 9.7% of the portfolio.

Compared with Q1 2023, the fund opened 4 new positions and exited 3.

Portfolio Metrics

Turnover
+0.2%
vs prior filed quarter
Top-10 Concentration
+51.2%
share of reported value
Largest Position
+9.7%
Microsoft
New / Exited
4 / 3
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% · $3.2B
  • ETP · 0.5% · $17M
  • ADR · 0.0% · $351,000

Quarter-over-Quarter Changes full breakdown →

vs Q1 2023 (amended baseline)

IssuerMoveShare ΔShares nowValue ΔValue now
METAFACEBOOK INC/UNEW+1.0K1.0K+$285,000$285,000
ORCLORACLE CORP/UNEW+2.4K2.4K+$282,000$282,000
INTCINTEL CORP/UNEW+7.2K7.2K+$235,000$235,000
QQQINVESCO QQQNEW+575575+$212,000$212,000
CVSCVS HEALTH CORPADDED+24.5K28.6K+$2M$2M
AMATAPPLIED MATLS IADDED+120.7K191.6K+$19M$27M
IVViSHR CORE S&PSOLD OUT−3.1K0−$1M$0
ABXBARRICK GOLD COSOLD OUT−30.0K0−$471,000$0

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

Holdings — Q2 2023

79 positions
Export to Excel
#IssuerClass% PortfolioValue ↓Shares
1MSFTMICROSOFT CORPhistory →MICROSOFT CORP9.72%$317M958.8K
2AMZNAMAZON.COM INChistory →AMAZON.COM INC6.46%$211M1.65M
3VVISA INChistory →VISA INC-CLASS A SHARES5.64%$184M797.6K
4MRKMERCK & CO/Uhistory →Merck & Co Inc5.50%$179M1.59M
5GOOGLALPHABET INC Ahistory →ALPHABET INC-CL A5.04%$164M1.43M
6ACNACCENTURE PLChistory →ACCENTURE PLC-CL A4.52%$147M490.0K
7BDXBECTON DICKIN/Uhistory →Becton Dickinson & Co4.27%$139M539.6K
8RTXRAYTHEON TECHhistory →RTX CORP3.46%$113M1.18M
9PHPARKER HANNIFINhistory →PARKER HANNIFIN CORP3.37%$110M290.2K
10CVXCHEVRON CORP/Uhistory →Chevron Corp3.19%$104M677.0K
11OTISOTIS WORLDWIDEhistory →OTIS WORLDWIDE CORP2.95%$96M1.11M
12GOOGALPHABET INC Chistory →ALPHABET INC-CL C2.88%$94M775.4K
13ELESTEE LAUDERhistory →ESTEE LAUDER COMPANIES-CL A2.68%$87M456.0K
14ZTSZOETIS INChistory →ZOETIS INC2.47%$81M481.6K
15MSIMOTOROLA SOLhistory →MOTOROLA SOLUTIONS INC2.08%$68M245.4K
16ECLECOLAB INChistory →ECOLAB INC1.85%$60M335.7K
17MDTMEDTRONIC PLChistory →MEDTRONIC PLC1.80%$59M700.5K
18ADBEADOBE INChistory →ADOBE INC1.78%$58M126.7K
19BALLBALL CORP/Uhistory →Ball Corp1.73%$56M1.01M
20ICEINTERCONTINENhistory →INTERCONTINENTAL EXCHANGE IN1.72%$56M519.1K
21HONHONEYWELL INTLhistory →HONEYWELL INTERNATIONAL INC1.66%$54M274.1K
22COSTCOSTCO WHOLEhistory →COSTCO WHOLESALE CORP1.66%$54M105.1K
23ROSTROSS STORES INChistory →ROSS STORES INC1.65%$54M505.9K
24TXNTEXAS INSTR/Uhistory →Texas Instruments Inc1.56%$51M303.4K
25APHAMPHENOL CORPhistory →AMPHENOL CORP-CL A1.54%$50M616.5K
26DISWALT DISNEY COhistory →WALT DISNEY CO/THE1.50%$49M566.9K
27MSMORGAN STANLEYhistory →MORGAN STANLEY1.26%$41M508.9K
28BACBANK OF AMERICAhistory →BANK OF AMERICA CORP1.26%$41M1.51M
29JNJJOHN & JOHN COMhistory →JOHNSON & JOHNSON1.22%$40M240.2K
30PGPROCTER & GAM/Uhistory →Procter & Gamble Co1.22%$40M261.8K
31MDLZMONDELEZ INTL/Uhistory →Mondelez International Inc1.21%$39M567.9K
32PEPPEPSICO INChistory →PEPSICO INC1.14%$37M210.2K
33WFCWELLS FARGO COhistory →WELLS FARGO & CO1.08%$35M867.8K
34TMUST-MOBIL US INChistory →T-MOBILE US INC1.04%$34M256.2K
35NKENIKE INC CL Bhistory →NIKE INC -CL B1.00%$32M309.3K
36KLACKLA CORPhistory →KLA CORP0.99%$32M70.0K
37EOGEOG RESOURCES/Uhistory →EOG Resources Inc0.94%$31M281.8K
38AAPLAPPLE INC/Uhistory →Apple Inc0.93%$30M159.0K
39CLCOLGATE PALMO/Uhistory →Colgate Palmolive Co0.84%$27M375.2K
40AMATAPPLIED MATLS Ihistory →APPLIED MATERIALS INC0.81%$27M191.6K
41BRK/BBERKSHR HAT B/Uhistory →Berkshire Hathaway Inc Cl B0.54%$18M52.0K
42SPYSPDR S&P 500history →SPDR S&P 500 ETF TRUST0.51%$17M37.6K
43HDHOME DEPOT INCHOME DEPOT INC0.29%$9M30.6K
44BRK/ABERKSHIRE-HAT ABERKSHIRE HATHAWAY INC-CL A0.16%$5M10
45CRMSALESFORCE INCSALESFORCE INC0.13%$4M20.1K
46IPGPIPG PHOTONICSIPG PHOTONICS CORP0.09%$3M22.8K
47BWABORG-WARNER INCBORGWARNER INC0.07%$2M49.3K
48CVSCVS HEALTH CORPCVS HEALTH CORP0.06%$2M28.6K
49SCHWSCHWAB CHARLESSCHWAB (CHARLES) CORP0.06%$2M33.9K
50AXPAMER EXPRESS COAMERICAN EXPRESS CO0.04%$1M8.3K
51MMM3M CO/U3M Co0.04%$1M13.2K
52CARRCARRIER GLOBALCARRIER GLOBAL CORP0.04%$1M23.2K
53LLYLILLY ELI & COELI LILLY & CO0.03%$829,0001.8K
54JCIJOHNSON CTRL INJOHNSON CONTROLS INTERNATION0.02%$639,00011.2K
55HLTHILTON WORLDHILTON WORLDWIDE HOLDINGS IN0.02%$627,0005.1K
56SYKSTRYKER CORPSTRYKER CORP0.02%$610,0002.0K
57NEMNEWMONT GOLDCONEWMONT CORP0.02%$595,00014.0K
58ADPAUTOMATIC DATAAUTOMATIC DATA PROCESSING0.02%$570,0003.0K
59NVDANVIDIA CORPNVIDIA CORP0.02%$564,0001.4K
60IPGINTERPUBLIC GROINTERPUBLIC GROUP OF COS INC0.02%$557,00017.1K
61SPGIS&P GLOBAL INCS&P GLOBAL INC0.02%$535,0001.6K
62TSLATESLA INCTESLA INC0.02%$515,0002.0K
63CMECMECME GROUP INC0.02%$505,0003.3K
64KOCOCA COLA COCOCA-COLA CO/THE0.02%$490,0008.2K
65EMBCEMBECTA CORPEMBECTA CORP0.01%$460,00021.0K
66CICIGNA GROUP/THETHE CIGNA GROUP0.01%$405,0001.7K
67NFLXNETFLIX INCNETFLIX INC0.01%$354,000828
68JMIAJUMIA TECHN-ADRJUMIA TECHNOLOGIES AG-ADR0.01%$351,000102.9K
69SLBSCHLUMBERGER LTSCHLUMBERGER LTD0.01%$298,0006.1K
70METAFACEBOOK INC/UFacebook Inc - A - Unmanaged0.01%$285,0001.0K
71ORCLORACLE CORP/UOracle Corp0.01%$282,0002.4K
72TMOTHERMO FISHERTHERMO FISHER SCIENTIFIC INC0.01%$279,000544
73PFEPFIZER INCPFIZER INC0.01%$276,0007.6K
74ABTABBOTT LABS/UAbbott Laboratories0.01%$271,0002.5K
75JPMJPMORGAN CHA/UJPMorgan Chase & Co0.01%$267,0001.9K
76MAMASTERCARD INCMASTERCARD INC - A0.01%$255,000660
77INTCINTEL CORP/UIntel Corp0.01%$235,0007.2K
78QQQINVESCO QQQINVESCO QQQ TRUST SERIES 10.01%$212,000575
79CSCOCISCO SYS INCCISCO SYSTEMS INC0.01%$210,0004.1K

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 ↗.