SEC 13F Intelligence

Managers / Q3 2025 · view latest →

Lazard Freres Gestion S.A.S.

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

Reported Value
$5.3B
Q3 2025
Positions
112
Filings on Record
22
2021–present window
Filed
Oct 21, 2025
original filing

Summary

Lazard Freres Gestion S.a.s. reported $5.3B in U.S.-listed holdings across 112 positions for Q3 2025.

Its largest position, MSFT, represents 10.0% of the portfolio.

Compared with Q2 2025, the fund opened 26 new positions and exited 3.

Portfolio Metrics

Turnover
+1.6%
vs prior filed quarter
Top-10 Concentration
+50.8%
share of reported value
Largest Position
+10.0%
Microsoft
New / Exited
26 / 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: 98.9%ETP: 1.0%ADR: 0.1%REIT: 0.0%
  • Common Stock · 98.9% · $5.2B
  • ETP · 1.0% · $53M
  • ADR · 0.1% · $3M
  • REIT · 0.0% · $2M

Quarter-over-Quarter Changes full breakdown →

vs Q2 2025 (amended baseline)

IssuerMoveShare ΔShares nowValue ΔValue now
NVDANVIDIA CORPNEW+1.44M1.44M+$36M$268M
AVGOBROADCOM INCNEW+211.7K211.7K+$17M$70M
PHPARKER HANNIFINNEW+136.2K136.2K+$15M$103M
ROSTROSS STORES INCNEW+355.3K355.3K+$9M$54M
NKENIKE INC CL BNEW+796.7K796.7K+$7M$56M
MRKMERCK & CO INCNEW+1.17M1.17M+$6M$98M
ELESTEE LAUDERNEW+820.6K820.6K+$6M$72M
APPAPPLOVIN CORPNEW+3.5K3.5K+$3M$3M

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

Holdings — Q3 2025

112 positions
Export to Excel
#IssuerClass% PortfolioValue ↓Shares
1MSFTMICROSOFT CORPhistory →MICROSOFT CORP10.03%$527M1.02M
2GOOGLALPHABET INC Ahistory →ALPHABET INC-CL A6.51%$342M1.41M
3AMZNAMAZON.COM INChistory →AMAZON.COM INC6.39%$336M1.53M
4AAPLAPPLE INChistory →APPLE INC6.13%$322M1.26M
5NVDANVIDIA CORPhistory →NVIDIA CORP5.11%$268M1.44M
6VVISA INChistory →VISA INC-CLASS A SHARES4.30%$226M662.2K
7RTXRAYTHEON TECHhistory →RTX CORP3.59%$188M1.13M
8ZTSZOETIS INChistory →ZOETIS INC3.11%$163M1.12M
9MSIMOTOROLA SOLhistory →MOTOROLA SOLUTIONS INC2.88%$151M331.2K
10MDTMEDTRONIC PLChistory →MEDTRONIC PLC2.78%$146M1.53M
11ACNACCENTURE PLChistory →ACCENTURE PLC-CL A2.74%$144M584.3K
12METAMETA PLATFORMShistory →META PLATFORMS INC-CLASS A2.45%$129M175.5K
13AMATAPPLIED MATLS Ihistory →APPLIED MATERIALS INC2.24%$118M574.0K
14APHAMPHENOL CORPhistory →AMPHENOL CORP-CL A1.97%$103M835.5K
15PHPARKER HANNIFINhistory →PARKER HANNIFIN CORP1.97%$103M136.2K
16MRKMERCK & CO INChistory →MERCK & CO. INC.1.87%$98M1.17M
17OTISOTIS WORLDWIDEhistory →OTIS WORLDWIDE CORP1.87%$98M1.07M
18BDXBECTON DICKINSOhistory →BECTON DICKINSON AND CO1.65%$86M461.8K
19SPGIS&P GLOBAL INChistory →S&P GLOBAL INC1.60%$84M172.3K
20MSMORGAN STANLEYhistory →MORGAN STANLEY1.58%$83M522.0K
21COSTCOSTCO WHOLEhistory →COSTCO WHOLESALE CORP1.49%$78M84.7K
22ECLECOLAB INChistory →ECOLAB INC1.46%$77M280.4K
23ELESTEE LAUDERhistory →ESTEE LAUDER COMPANIES-CL A1.38%$72M820.6K
24ICEINTERCONTINENhistory →INTERCONTINENTAL EXCHANGE IN1.37%$72M425.7K
25AVGOBROADCOM INChistory →BROADCOM INC1.33%$70M211.7K
26KLACKLA CORPhistory →KLA CORP1.26%$66M61.4K
27LLYLILLY ELI & COhistory →ELI LILLY & CO1.17%$61M80.3K
28CLCOLGATE PALMOLhistory →COLGATE-PALMOLIVE CO1.14%$60M749.5K
29JPMJPMORGAN CHASEhistory →JPMORGAN CHASE & CO1.08%$57M180.6K
30NKENIKE INC CL Bhistory →NIKE INC -CL B1.06%$56M796.7K
31DISWALT DISNEY COhistory →WALT DISNEY CO/THE1.06%$55M484.7K
32ROSTROSS STORES INChistory →ROSS STORES INC1.03%$54M355.3K
33MCOMOODY'S CORPhistory →MOODY'S CORP1.01%$53M111.7K
34HONHONEYWELL INTLhistory →HONEYWELL INTERNATIONAL INC1.01%$53M251.7K
35IDXXIDEXX LABS CORPhistory →IDEXX LABORATORIES INC0.96%$50M78.7K
36WFCWELLS FARGO COhistory →WELLS FARGO & CO0.94%$49M587.3K
37MARMARRIOTT INTL Ihistory →MARRIOTT INTERNATIONAL -CL A0.94%$49M188.9K
38MDLZMONDELEZ INTLhistory →MONDELEZ INTERNATIONAL INC-A0.91%$48M765.2K
39SPYSPDR S&P 500history →SPDR S&P 500 ETF TRUST0.88%$46M69.2K
40TMUST-MOBIL US INChistory →T-MOBILE US INC0.83%$44M183.1K
41CVXCHEVRON CORPhistory →CHEVRON CORP0.83%$44M281.3K
42BRK/BBERKSHIRE-HAThistory →BERKSHIRE HATHAWAY INC-CL B0.80%$42M83.8K
43MLMMARTIN MARIETTAhistory →MARTIN MARIETTA MATERIALS0.64%$34M53.2K
44ADBEADOBE INChistory →ADOBE INC0.54%$28M80.7K
45MTDMETTLER INTLhistory →METTLER-TOLEDO INTERNATIONAL0.52%$27M22.2K
46SPOTSPOTIFY TECHNOLhistory →SPOTIFY TECHNOLOGY SA0.44%$23M33.0K
47GOOGALPHABET INC Chistory →ALPHABET INC-CL C0.40%$21M87.2K
48EOGEOG RESOURCEShistory →EOG RESOURCES INC0.33%$17M155.1K
49BRK/ABERKSHIRE-HAT Ahistory →BERKSHIRE HATHAWAY INC-CL A0.26%$14M18
50CRMSALESFORCE INCSALESFORCE INC0.17%$9M38.6K
51PGPROCTER & GAMBLPROCTER & GAMBLE CO/THE0.16%$8M54.2K
52HDHOME DEPOT INCHOME DEPOT INC0.16%$8M20.3K
53NFLXNETFLIX INCNETFLIX INC0.10%$5M4.5K
54AMDADV MICRO DEV IADVANCED MICRO DEVICES0.09%$5M28.1K
55MUMICRON TECHNOLOMICRON TECHNOLOGY INC0.08%$4M26.5K
56UBERUBER TECHNOLOGIUBER TECHNOLOGIES INC0.07%$4M39.1K
57VRSKVERISK ANALYTICVERISK ANALYTICS INC0.07%$4M14.5K
58BALLBALL CORPBALL CORP0.07%$3M68.1K
59CDNSCADENCE DESIGNCADENCE DESIGN SYS INC0.06%$3M9.7K
60NOWSERVICENOWSERVICENOW INC0.06%$3M3.6K
61SNPSSYNOPSYS INCSYNOPSYS INC0.06%$3M5.9K
62TYLTYLER TECHNOLOGTYLER TECHNOLOGIES INC0.05%$3M5.0K
63AXPAMER EXPRESS COAMERICAN EXPRESS CO0.05%$3M7.8K
64APPAPPLOVIN CORPAPPLOVIN CORP-CLASS A0.05%$3M3.5K
65AWKAMERICAN WATERAMERICAN WATER WORKS CO INC0.05%$2M17.4K
66ARMARM HOLDINGS PLCARM HOLDINGS PLC-ADR0.05%$2M17.0K
67IOTSamsara IncSAMSARA INC-CL A0.04%$2M60.0K
68PLDPROLOGIS INCPROLOGIS INC0.04%$2M19.0K
69PINSPINTEREST INCPINTEREST INC- CLASS A0.04%$2M65.9K
70IVViSHR CORE S&PISHARES CORE S&P 500 ETF0.04%$2M3.1K
71JCIJOHNSON CTRL INJOHNSON CONTROLS INTERNATION0.04%$2M17.7K
72VTEBVNGD MUNIVANGUARD TAX-EXEMPT BOND ETF0.04%$2M37.5K
73VERXVERTEX INCVERTEX INC - CLASS A0.03%$2M70.0K
74HLTHILTON WORLDHILTON WORLDWIDE HOLDINGS IN0.03%$2M6.0K
75BACBANK OF AMERICABANK OF AMERICA CORP0.03%$1M28.1K
76CBOECBOE GLOBALCBOE GLOBAL MARKETS INC0.02%$1M5.3K
77PWRQUANTA SERVICESQUANTA SERVICES INC0.02%$1M3.1K
78XYLXYLEM INCXYLEM INC0.02%$1M8.3K
79CICIGNA GROUP/THETHE CIGNA GROUP0.02%$1M4.2K
80CVSCVS HEALTH CORPCVS HEALTH CORP0.02%$1M16.1K
81CARRCARRIER GLOBALCARRIER GLOBAL CORP0.02%$1M19.9K
82JNJJOHN & JOHN COMJOHNSON & JOHNSON0.02%$1M5.9K
83QQQINVESCO QQQINVESCO QQQ TRUST SERIES 10.02%$982,0001.6K
84FSLRFIRST SOLAR INCFIRST SOLAR INC0.02%$968,0004.4K
85TTEKTETRA TECH INCTETRA TECH INC0.02%$862,00025.8K
86WMWASTE MGMT INCWASTE MANAGEMENT INC0.02%$848,0003.8K
87NXTNEXTRACKER INC-CL ANEXTRACKER INC-CL A0.02%$802,00010.8K
88SYKSTRYKER CORPSTRYKER CORP0.01%$739,0002.0K
89AYIACUITY BRANDSACUITY INC0.01%$688,0002.0K
90OCOWENS CORNINGOWENS CORNING0.01%$686,0004.8K
91ORCLORACLE CORPORACLE CORP0.01%$674,0002.4K
92IJHiSHR CORE SP MCISHARES CORE S&P MIDCAP ETF0.01%$590,0009.1K
93IBMINTL BUS MACHINTL BUSINESS MACHINES CORP0.01%$586,0002.1K
94TSLATESLA INCTESLA INC0.01%$582,0001.3K
95EXMOCEXXON MOBILEXXON MOBIL CORP0.01%$580,0005.2K
96CWENCLEARWAY-ENERGYCLEARWAY ENERGY INC-C0.01%$550,00019.5K
97IJRiSHR CORE SP SCISHARES CORE S&P SMALL-CAP E0.01%$546,0004.6K
98KOCOCA COLA COCOCA-COLA CO/THE0.01%$530,0008.0K
99BMIBADGER METER INBADGER METER INC0.01%$526,0003.0K
100CLHCLEAN HARBORSCLEAN HARBORS INC0.01%$473,0002.0K

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 ↗.