SEC 13F Intelligence

Managers / Q3 2023 · view latest →

Lazard Freres Gestion S.A.S.

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

Reported Value
$3.1B
Q3 2023
Positions
79
Filings on Record
22
2021–present window
Filed
Nov 9, 2023
original filing

Summary

Lazard Freres Gestion S.a.s. reported $3.1B in U.S.-listed holdings across 79 positions for Q3 2023.

Its largest position, MSFT, represents 9.4% of the portfolio.

Compared with Q2 2023, the fund opened 5 new positions and exited 5.

Portfolio Metrics

Turnover
+2.7%
vs prior filed quarter
Top-10 Concentration
+52.1%
share of reported value
Largest Position
+9.4%
Microsoft
New / Exited
5 / 5
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: 99.3%ETP: 0.7%
  • Common Stock · 99.3% · $3.1B
  • ETP · 0.7% · $21M

Quarter-over-Quarter Changes full breakdown →

vs Q2 2023 (amended baseline)

IssuerMoveShare ΔShares nowValue ΔValue now
VTEBVNGD MUNINEW+40.0K40.0K+$2M$2M
IVViSHR CORE S&PNEW+4.0K4.0K+$2M$2M
IJHiSHR CORE SP MCNEW+1.8K1.8K+$452,000$452,000
IJRiSHR CORE SP SCNEW+4.6K4.6K+$436,000$436,000
ABBVABBVIE INCNEW+1.4K1.4K+$213,000$213,000
NEMNEWMONT GOLDCOSOLD OUT−14.0K0−$595,000$0
JMIAJUMIA TECHN-ADRSOLD OUT−102.9K0−$351,000$0
JPMJPMORGAN CHA/USOLD OUT−1.9K0−$267,000$0

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

Holdings — Q3 2023

79 positions
Export to Excel
#IssuerClass% PortfolioValue ↓Shares
1MSFTMICROSOFT CORPhistory →MICROSOFT CORP9.42%$297M958.5K
2AMZNAMAZON.COM INChistory →AMAZON.COM INC6.63%$209M1.67M
3GOOGLALPHABET INC Ahistory →ALPHABET INC-CL A5.77%$182M1.43M
4VVISA INChistory →VISA INC-CLASS A SHARES5.71%$180M797.3K
5MRKMERCK & CO/Uhistory →Merck & Co Inc5.15%$162M1.60M
6ACNACCENTURE PLChistory →ACCENTURE PLC-CL A4.71%$148M492.2K
7BDXBECTON DICKIN/Uhistory →Becton Dickinson & Co4.36%$137M538.4K
8CVXCHEVRON CORP/Uhistory →Chevron Corp3.71%$117M704.5K
9PHPARKER HANNIFINhistory →PARKER HANNIFIN CORP3.39%$107M279.2K
10GOOGALPHABET INC Chistory →ALPHABET INC-CL C3.28%$103M783.2K
11RTXRAYTHEON TECHhistory →RTX CORP2.80%$88M1.25M
12ZTSZOETIS INChistory →ZOETIS INC2.65%$84M489.0K
13OTISOTIS WORLDWIDEhistory →OTIS WORLDWIDE CORP2.64%$83M1.05M
14ELESTEE LAUDERhistory →ESTEE LAUDER COMPANIES-CL A2.18%$69M482.1K
15MSIMOTOROLA SOLhistory →MOTOROLA SOLUTIONS INC2.14%$68M257.1K
16COSTCOSTCO WHOLEhistory →COSTCO WHOLESALE CORP1.83%$58M105.1K
17ADBEADOBE INChistory →ADOBE INC1.81%$57M116.9K
18ECLECOLAB INChistory →ECOLAB INC1.78%$56M340.4K
19ROSTROSS STORES INChistory →ROSS STORES INC1.76%$55M509.2K
20ICEINTERCONTINENhistory →INTERCONTINENTAL EXCHANGE IN1.75%$55M515.5K
21MDTMEDTRONIC PLChistory →MEDTRONIC PLC1.70%$54M706.5K
22BALLBALL CORP/Uhistory →Ball Corp1.61%$51M1.05M
23APHAMPHENOL CORPhistory →AMPHENOL CORP-CL A1.60%$50M616.6K
24DISWALT DISNEY COhistory →WALT DISNEY CO/THE1.48%$47M592.6K
25HONHONEYWELL INTLhistory →HONEYWELL INTERNATIONAL INC1.45%$46M255.8K
26AMATAPPLIED MATLS Ihistory →APPLIED MATERIALS INC1.35%$43M318.1K
27KLACKLA CORPhistory →KLA CORP1.29%$41M91.5K
28MSMORGAN STANLEYhistory →MORGAN STANLEY1.27%$40M510.4K
29BACBANK OF AMERICAhistory →BANK OF AMERICA CORP1.26%$40M1.51M
30PGPROCTER & GAM/Uhistory →Procter & Gamble Co1.23%$39M266.1K
31MDLZMONDELEZ INTL/Uhistory →Mondelez International Inc1.22%$38M572.6K
32JNJJOHN & JOHN COMhistory →JOHNSON & JOHNSON1.19%$37M239.7K
33EOGEOG RESOURCES/Uhistory →EOG Resources Inc1.16%$36M296.8K
34PEPPEPSICO INChistory →PEPSICO INC1.11%$35M212.3K
35TMUST-MOBIL US INChistory →T-MOBILE US INC1.10%$35M256.2K
36WFCWELLS FARGO COhistory →WELLS FARGO & CO1.09%$34M867.9K
37AAPLAPPLE INC/Uhistory →Apple Inc0.96%$30M176.2K
38NKENIKE INC CL Bhistory →NIKE INC -CL B0.93%$29M317.3K
39CLCOLGATE PALMO/Uhistory →Colgate Palmolive Co0.82%$26M376.1K
40BRK/BBERKSHR HAT B/Uhistory →Berkshire Hathaway Inc Cl B0.56%$18M49.6K
41SPYSPDR S&P 500history →SPDR S&P 500 ETF TRUST0.53%$17M39.1K
42HDHOME DEPOT INCHOME DEPOT INC0.29%$9M29.7K
43BRK/ABERKSHIRE-HAT ABERKSHIRE HATHAWAY INC-CL A0.17%$5M10
44TXNTEXAS INSTR/UTexas Instruments Inc0.16%$5M35.0K
45CRMSALESFORCE INCSALESFORCE INC0.14%$4M22.0K
46IPGPIPG PHOTONICSIPG PHOTONICS CORP0.07%$2M22.8K
47CVSCVS HEALTH CORPCVS HEALTH CORP0.06%$2M28.9K
48BWABORG-WARNER INCBORGWARNER INC0.06%$2M49.3K
49VTEBVNGD MUNIVANGUARD TAX-EXEMPT BOND ETF0.06%$2M40.0K
50SCHWSCHWAB CHARLESSCHWAB (CHARLES) CORP0.06%$2M33.9K
51IVViSHR CORE S&PISHARES CORE S&P 500 ETF0.06%$2M4.0K
52CARRCARRIER GLOBALCARRIER GLOBAL CORP0.04%$1M23.2K
53MMM3M CO/U3M Co0.04%$1M13.4K
54AXPAMER EXPRESS COAMERICAN EXPRESS CO0.04%$1M8.3K
55LLYLILLY ELI & COELI LILLY & CO0.03%$972,0001.8K
56ADPAUTOMATIC DATAAUTOMATIC DATA PROCESSING0.03%$811,0003.7K
57CMECMECME GROUP INC0.02%$785,0004.4K
58HLTHILTON WORLDHILTON WORLDWIDE HOLDINGS IN0.02%$760,0005.7K
59SPGIS&P GLOBAL INCS&P GLOBAL INC0.02%$744,0002.3K
60JCIJOHNSON CTRL INJOHNSON CONTROLS INTERNATION0.02%$648,00013.7K
61NVDANVIDIA CORPNVIDIA CORP0.02%$592,0001.4K
62CICIGNA GROUP/THETHE CIGNA GROUP0.02%$588,0002.3K
63SYKSTRYKER CORPSTRYKER CORP0.02%$546,0002.0K
64TSLATESLA INCTESLA INC0.02%$492,0002.0K
65IPGINTERPUBLIC GROINTERPUBLIC GROUP OF COS INC0.02%$485,00018.9K
66KOCOCA COLA COCOCA-COLA CO/THE0.01%$455,0008.2K
67IJHiSHR CORE SP MCISHARES CORE S&P MIDCAP ETF0.01%$452,0001.8K
68IJRiSHR CORE SP SCISHARES CORE S&P SMALL-CAP E0.01%$436,0004.6K
69SLBSCHLUMBERGER LTSCHLUMBERGER LTD0.01%$375,0006.4K
70EMBCEMBECTA CORPEMBECTA CORP0.01%$306,00020.4K
71METAFACEBOOK INC/UFacebook Inc - A - Unmanaged0.01%$301,0001.0K
72NFLXNETFLIX INCNETFLIX INC0.01%$298,000792
73TMOTHERMO FISHERTHERMO FISHER SCIENTIFIC INC0.01%$273,000544
74MAMASTERCARD INCMASTERCARD INC - A0.01%$263,000660
75PFEPFIZER INCPFIZER INC0.01%$255,0007.8K
76ORCLORACLE CORP/UOracle Corp0.01%$254,0002.4K
77ABTABBOTT LABS/UAbbott Laboratories0.01%$242,0002.5K
78ABBVABBVIE INCABBVIE INC0.01%$213,0001.4K
79QQQINVESCO QQQINVESCO QQQ TRUST SERIES 10.01%$206,000575

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 ↗.