SEC 13F Intelligence

Managers / Q4 2025 · view latest →

Lazard Freres Gestion S.A.S.

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

Reported Value
$5.6B
Q4 2025
Positions
112
Filings on Record
22
2021–present window
Filed
Feb 6, 2026
original filing

Summary

Lazard Freres Gestion S.a.s. reported $5.6B in U.S.-listed holdings across 112 positions for Q4 2025.

Its largest position, MSFT, represents 9.1% of the portfolio.

Compared with Q3 2025, the fund opened 5 new positions and exited 5.

Portfolio Metrics

Turnover
+4.0%
vs prior filed quarter
Top-10 Concentration
+51.4%
share of reported value
Largest Position
+9.1%
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: 98.8%ETP: 1.2%REIT: 0.0%ADR: 0.0%
  • Common Stock · 98.8% · $5.5B
  • ETP · 1.2% · $65M
  • REIT · 0.0% · $2M
  • ADR · 0.0% · $2M

Quarter-over-Quarter Changes full breakdown →

vs Q3 2025 (amended baseline)

IssuerMoveShare ΔShares nowValue ΔValue now
DUOLDUOLINGO INCNEW+12.0K12.0K+$2M$2M
DDOGDATADOG INC CLNEW+11.3K11.3K+$2M$2M
CSCOCISCO SYS INCNEW+2.8K2.8K+$214,000$214,000
IEMGISHR CORE MS EMNEW+3.0K3.0K+$201,000$201,000
INTCINTEL CORP/UNEW+5.4K5.4K+$200,000$200,000
NFLXNETFLIX INCADDED+39.4K43.9K−$1M$4M
NOWSERVICENOWADDED+14.3K17.9K−$605,000$3M
QQQINVESCO QQQADDED+2.6K4.3K+$2M$3M

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

Holdings — Q4 2025

112 positions
Export to Excel
#IssuerClass% PortfolioValue ↓Shares
1MSFTMICROSOFT CORPhistory →MICROSOFT CORP9.07%$503M1.04M
2GOOGLALPHABET INC Ahistory →ALPHABET INC-CL A7.27%$404M1.29M
3AMZNAMAZON.COM INChistory →AMAZON.COM INC6.59%$366M1.58M
4AAPLAPPLE INC/Uhistory →Apple Inc6.05%$336M1.23M
5NVDANVIDIA CORPhistory →NVIDIA CORP4.99%$277M1.49M
6VVISA INChistory →VISA INC-CLASS A SHARES4.64%$258M734.6K
7RTXRAYTHEON TECHhistory →RTX CORP3.48%$193M1.05M
8ACNACCENTURE PLChistory →ACCENTURE PLC-CL A3.31%$184M684.9K
9MSIMOTOROLA SOLhistory →MOTOROLA SOLUTIONS INC3.04%$169M439.6K
10MDTMEDTRONIC PLChistory →MEDTRONIC PLC2.95%$164M1.71M
11ZTSZOETIS INChistory →ZOETIS INC2.40%$133M1.06M
12AMATAPPLIED MATLS Ihistory →APPLIED MATERIALS INC2.37%$132M512.2K
13MRKMERCK & CO/Uhistory →Merck & Co Inc2.26%$126M1.19M
14METAFACEBOOK INC/Uhistory →Facebook Inc - A - Unmanaged2.26%$126M190.2K
15ELESTEE LAUDERhistory →ESTEE LAUDER COMPANIES-CL A2.11%$117M1.12M
16OTISOTIS WORLDWIDEhistory →OTIS WORLDWIDE CORP2.06%$114M1.31M
17SPGIS&P GLOBAL INChistory →S&P GLOBAL INC2.00%$111M212.6K
18PHPARKER HANNIFINhistory →PARKER HANNIFIN CORP1.94%$107M122.3K
19APHAMPHENOL CORPhistory →AMPHENOL CORP-CL A1.84%$102M754.8K
20COSTCOSTCO WHOLEhistory →COSTCO WHOLESALE CORP1.80%$100M115.6K
21MSMORGAN STANLEYhistory →MORGAN STANLEY1.55%$86M484.8K
22LLYLILLY ELI & COhistory →ELI LILLY & CO1.42%$79M73.5K
23AVGOBROADCOM INChistory →BROADCOM INC1.40%$78M224.6K
24NKENIKE INC CL Bhistory →NIKE INC -CL B1.36%$76M1.19M
25BDXBECTON DICKIN/Uhistory →Becton Dickinson & Co1.31%$73M375.6K
26MCOMOODY'S CORPhistory →MOODY'S CORP1.14%$63M123.8K
27ECLECOLAB INChistory →ECOLAB INC1.12%$62M236.7K
28ICEINTERCONTINENhistory →INTERCONTINENTAL EXCHANGE IN1.11%$62M381.9K
29CLCOLGATE PALMO/Uhistory →Colgate Palmolive Co1.11%$61M776.7K
30MARMARRIOTT INTL Ihistory →MARRIOTT INTERNATIONAL -CL A1.07%$59M191.6K
31SPYSPDR S&P 500history →SPDR S&P 500 ETF TRUST1.04%$58M85.0K
32ROSTROSS STORES INChistory →ROSS STORES INC1.02%$57M314.9K
33JPMJPMORGAN CHA/Uhistory →JPMorgan Chase & Co0.99%$55M170.1K
34KLACKLA CORPhistory →KLA CORP0.98%$54M44.7K
35DISWALT DISNEY COhistory →WALT DISNEY CO/THE0.91%$51M445.3K
36MLMMARTIN MARIETTAhistory →MARTIN MARIETTA MATERIALS0.91%$50M81.0K
37WFCWELLS FARGO COhistory →WELLS FARGO & CO0.90%$50M536.1K
38HONHONEYWELL INTLhistory →HONEYWELL INTERNATIONAL INC0.84%$47M239.5K
39IDXXIDEXX LABS CORPhistory →IDEXX LABORATORIES INC0.77%$43M63.0K
40MTDMETTLER INTLhistory →METTLER-TOLEDO INTERNATIONAL0.75%$42M29.8K
41CVXCHEVRON CORP/Uhistory →Chevron Corp0.70%$39M254.2K
42MDLZMONDELEZ INTL/Uhistory →Mondelez International Inc0.68%$38M704.5K
43TMUST-MOBIL US INChistory →T-MOBILE US INC0.62%$35M170.5K
44GOOGALPHABET INC Chistory →ALPHABET INC-CL C0.48%$27M85.7K
45ADBEADOBE INChistory →ADOBE INC0.48%$27M75.8K
46BRK/BBERKSHR HAT B/Uhistory →Berkshire Hathaway Inc Cl B0.46%$26M50.8K
47SPOTSPOTIFY TECHNOLhistory →SPOTIFY TECHNOLOGY SA0.34%$19M32.6K
48BRK/ABERKSHIRE-HAT Ahistory →BERKSHIRE HATHAWAY INC-CL A0.20%$11M15
49CRMSALESFORCE INCSALESFORCE INC0.17%$9M35.9K
50PGPROCTER & GAM/UProcter & Gamble Co0.13%$7M50.5K
51HDHOME DEPOT INCHOME DEPOT INC0.09%$5M14.4K
52AMDADV MICRO DEV IADVANCED MICRO DEVICES0.08%$4M20.0K
53NFLXNETFLIX INCNETFLIX INC0.07%$4M43.9K
54MUMICRON TECHNOLOMICRON TECHNOLOGY INC0.06%$3M12.0K
55VRSKVERISK ANALYTICVERISK ANALYTICS INC0.06%$3M14.0K
56APPAPPLOVIN CORPAPPLOVIN CORP-CLASS A0.05%$3M4.3K
57AXPAMER EXPRESS COAMERICAN EXPRESS CO0.05%$3M7.7K
58NOWSERVICENOWSERVICENOW INC0.05%$3M17.9K
59BALLBALL CORP/UBall Corp0.05%$3M51.5K
60SNPSSYNOPSYS INCSYNOPSYS INC0.05%$3M5.8K
61QQQINVESCO QQQINVESCO QQQ TRUST SERIES 10.05%$3M4.3K
62CDNSCADENCE DESIGNCADENCE DESIGN SYS INC0.04%$2M7.8K
63UBERUBER TECHNOLOGIUBER TECHNOLOGIES INC0.04%$2M29.0K
64PLDPROLOGIS INCPROLOGIS INC0.04%$2M18.3K
65TYLTYLER TECHNOLOGTYLER TECHNOLOGIES INC0.04%$2M5.0K
66VERXVERTEX INCVERTEX INC - CLASS A0.04%$2M110.0K
67IVViSHR CORE S&PISHARES CORE S&P 500 ETF0.04%$2M3.1K
68IOTSamsara IncSAMSARA INC-CL A0.04%$2M60.0K
69DUOLDUOLINGO INCDUOLINGO0.04%$2M12.0K
70PINSPINTEREST INCPINTEREST INC- CLASS A0.04%$2M80.0K
71JCIJOHNSON CTRL INJOHNSON CONTROLS INTERNATION0.03%$2M14.1K
72BACBANK OF AMERICABANK OF AMERICA CORP0.03%$2M30.3K
73HLTHILTON WORLDHILTON WORLDWIDE HOLDINGS IN0.03%$2M5.6K
74DDOGDATADOG INC CLDATADOG INC - CLASS A0.03%$2M11.3K
75ARMARM HOLDINGS PLCARM HOLDINGS PLC-ADR0.03%$1M13.0K
76AWKAMERICAN WATERAMERICAN WATER WORKS CO INC0.02%$1M10.2K
77PWRQUANTA SERVICESQUANTA SERVICES INC0.02%$1M3.1K
78CVSCVS HEALTH CORPCVS HEALTH CORP0.02%$1M16.1K
79CBOECBOE GLOBALCBOE GLOBAL MARKETS INC0.02%$1M4.9K
80FSLRFIRST SOLAR INCFIRST SOLAR INC0.02%$1M4.4K
81XYLXYLEM INCXYLEM INC0.02%$1M8.3K
82CICIGNA GROUP/THETHE CIGNA GROUP0.02%$1M4.0K
83JNJJOHN & JOHN COMJOHNSON & JOHNSON0.02%$969,0004.7K
84NXTNEXTRACKER INC-CL ANEXTPOWER INC-CL A0.02%$945,00010.8K
85TTEKTETRA TECH INCTETRA TECH INC0.02%$866,00025.8K
86WMWASTE MGMT INCWASTE MANAGEMENT INC0.02%$844,0003.8K
87CARRCARRIER GLOBALCARRIER GLOBAL CORP0.01%$737,00014.0K
88AYIACUITY BRANDSACUITY INC0.01%$720,0002.0K
89SYKSTRYKER CORPSTRYKER CORP0.01%$702,0002.0K
90CWENCLEARWAY-ENERGYCLEARWAY ENERGY INC-C0.01%$657,00019.8K
91EXMOCEXXON MOBIL/UExxon Mobil Corp0.01%$619,0005.2K
92IBMINTL BUS MACHINTL BUSINESS MACHINES CORP0.01%$615,0002.1K
93IJHiSHR CORE SP MCISHARES CORE S&P MIDCAP ETF0.01%$597,0009.1K
94TSLATESLA INCTESLA INC0.01%$589,0001.3K
95ONONON HOLDING AGON HOLDING AG-CLASS A0.01%$582,00012.5K
96BMIBADGER METER INBADGER METER INC0.01%$566,0003.3K
97KOCOCA COLA COCOCA-COLA CO/THE0.01%$559,0008.0K
98IJRiSHR CORE SP SCISHARES CORE S&P SMALL-CAP E0.01%$553,0004.6K
99OCOWENS CORNINGOWENS CORNING0.01%$542,0004.8K
100VTWOVANGUARD RS 200VANGUARD RUSSELL 2000 ETF0.01%$494,0005.0K

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 ↗.