LAZARD ASSET MANAGEMENT LLC

CIK 0001207017 · Q2 2026

13F Equity AUM

$66.1B

+8.7% QoQ

Positions

1,822

+35 QoQ

AUM Rank

#575

Top 5%

Skill Alpha (FF)

-0.1%/yr^ns

No Clear Edge

Rank #2,898 · Top 35%

vs S&P -1.0%/yr (unadj.)

Quarters Tracked

~13 years

Portfolio Concentration

Top 5: 15.5%Top 10: 25.4%Top 20: 36.9%

NVDA3.9%

AAPL3.6%

MSFT3.0%

AMZN2.8%

PEO2.3%

TSM2.2%

AMT2.1%

GOOG1.9%

GOOGL1.9%

8CW1.7%

Others (1812)74.6%

HHI (Herfindahl-Hirschman Index) measures portfolio concentration. Low (<1500) = diversified, Moderate (1500-2500), High (>2500) = concentrated bets.

Sector Allocation

Technology31.6%

Financial Services13.9%

Industrials10.6%

Healthcare8.8%

Communication Services7.0%

Consumer Cyclical6.9%

Utilities4.5%

Energy4.0%

Other12.7%

Portfolio weight by GICS sector based on latest 13F filing. Sectors below 2% are grouped as “Other.”

Position Sizing

Positions: 1822Median: 0.00%Avg: 0.05%

0–0.5%

1778(47.8%)

0.5–1%

28(19.2%)

1–3%

14(25.6%)

3–5%

2(7.5%)

5%+

0(0.0%)

Count of positions per weight bucket — (%) = combined portfolio weight

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Portfolio Overlap

Shared: 0Unique: 1,822vs 20 funds

0%Low

1,822

Fund positions

Consensus CUSIPs

Jaccard similarity of this fund’s portfolio vs the consensus of top 20 funds by AUM. Low (<15%) = contrarian, Moderate (15-40%), High (>40%) = follows the crowd.

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Position Changes This Quarter

New339Increased843Decreased637Exited253

New Positions

MPC0.1%

+255K

AZO0.1%

+20K

PFGC0.0%

+234K

HONEYWELL INTL INC0.0%

+86K

HONEYWELL AEROSPACE …0.0%

+86K

CARE0.0%

+641K

FW2N0.0%

+266K

PERSHING SQUARE USA …0.0%

+470K

PATK0.0%

+148K

DPC HOLDINGS PLC0.0%

+274K

Increased

GWRE 1.25 11/01/290.0%

+80.1M(+5503%)

BABA 0.5 06/01/310.0%

+50.0M(+60%)

FLNC 2.25 06/15/300.0%

+36.1M(+682%)

SNOW 0 10/01/270.0%

+35.5M(+105%)

UBER 0.875 12/01/28 0.0%

+34.2M(+62%)

AKAM 1.125 02/15/290.0%

+32.9M(+54%)

UPST 2 10/01/290.0%

+28.8M(+629%)

OSIS 2.25 08/01/290.0%

+28.7M(+527%)

AKAM 0.375 09/01/270.0%

+23.9M(+375%)

BOX 1.5 09/15/290.0%

+22.1M(+731%)

Decreased

FOUR 0.5 08/01/270.0%

-45,300,000(-93%)

ON 0.5 03/01/290.0%

-42,694,000(-46%)

WDC 3 11/15/280.0%

-38,668,000(-88%)

FIVN 1 03/15/290.0%

-36,617,000(-75%)

DXCM 0.375 05/15/280.0%

-36,491,000(-73%)

RPD 0.25 03/15/270.0%

-35,413,000(-87%)

BILL 0 04/01/300.0%

-33,116,000(-48%)

DBX 0 03/01/280.0%

-31,295,000(-86%)

ETSY 0.25 06/15/280.0%

-27,406,000(-73%)

SNAP 0.125 03/01/280.0%

-25,500,000(-92%)

Exited

-215,587

-696,598

-282,768

-102,639

-35,155

-47,854

-97,001

-481,889

-22,813

IIIN

-116,990

Quarter-over-quarter changes compared to prior 13F filing. New = first appearance; Exited = no longer held.

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Holdings

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