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Livermore
Livermore
ZHEN

Lazard Asset Management LLC

SEC CIK
0001207017
Latest filing
Aug 14, 2026

The latest 13F from Lazard Asset Management LLC covers Q2 2026 (filed Aug 14, 2026): 1,932 long positions worth $66.1B. The top 10 holdings make up 25.4% of the portfolio, and the largest is NVIDIA Corp (NVDA) at 3.9%. Livermore has 23 filings on Form 13F from this institution, going back to Q1 2021.

What changed in Q2 2026

Share counts compared with Q1 2026: how many positions were new, added to, reduced or sold out, and the biggest buys and sells. Dollar amounts are estimated at the quarter-end prices implied by the filing.

Full comparison
New
340
Est. +$671.4M
Added
792
Est. +$6.39B
Reduced
570
Est. −$8.67B
Sold out
252
Est. −$416.0M

Top 5 holdings

Share of this quarter's portfolio value

  1. NVDANVIDIA Corp
    3.9%$2.57BHistory
  2. AAPLApple Inc.
    3.6%$2.35BHistory
  3. MSFTMicrosoft Corp
    3.0%$1.98BHistory
  4. AMZNAmazon Com Inc
    2.8%$1.86BHistory
  5. EXCExelon Corp
    2.3%$1.50BHistory

Share of portfolio

Top 5 holdings and the other 1,927 positions, by share of portfolio value

  1. NVDA3.9%
  2. AAPL3.6%
  3. MSFT3.0%
  4. AMZN2.8%
  5. EXC2.3%
  6. Other 1,927 positions84.5%

Biggest buys

New and added positions, by estimated amount bought

  1. NVDANVIDIA Corp
    +$507.3MAddedHistory
  2. EXCExelon Corp
    +$351.9MAddedHistory
  3. CORCencora, Inc.
    +$218.6MAddedHistory
  4. CCitigroup Inc
    +$187.3MAddedHistory
  5. AMTAmerican Tower Corp
    +$176.2MAddedHistory

Largest weight increases

New and added positions, by percentage points of the portfolio gained

  1. NVDANVIDIA Corp
    +0.93 pp3.0% → 3.9%History
  2. AMDAdvanced Micro Devices Inc
    +0.73 pp0.3% → 1.1%History
  3. TSMTaiwan Semiconductor Manufacturing Co Ltd
    +0.54 pp1.6% → 2.2%History
  4. GOOGAlphabet Inc.
    +0.32 pp1.6% → 1.9%History
  5. CORCencora, Inc.
    +0.32 pp0.1% → 0.4%History

Biggest sells

Reduced and sold-out positions, by estimated amount sold

  1. CSXCSX Corp
    −$868.9MReducedHistory
  2. CNICanadian National Railway Co
    −$615.9MReducedHistory
  3. MRVLMarvell Technology, Inc.
    −$527.0MReducedHistory
  4. AVGOBroadcom Inc.
    −$394.7MReducedHistory
  5. ASXASE Technology Holding Co., Ltd.
    −$250.9MReducedHistory

Largest weight decreases

Reduced and sold-out positions, by percentage points of the portfolio lost

  1. CSXCSX Corp
    −1.24 pp1.2% → <0.1%History
  2. CNICanadian National Railway Co
    −0.83 pp1.5% → 0.7%History
  3. AVGOBroadcom Inc.
    −0.43 pp1.4% → 1.0%History
  4. MDTMedtronic plc
    −0.36 pp0.5% → 0.1%History
  5. CRMSalesforce, Inc.
    −0.29 pp0.4% → 0.1%History

Metrics

13F metrics for Q2 2026, computed only from the numbers in the filings. Definitions below.

Portfolio value
$66.1B
+$5.32B (+8.8%) vs. prior quarter
Positions
1,932
+88 vs. prior quarter
Top 10 concentration
25.4%
Top 10 as share of value
Turnover
11.1%
Q2 2026, one quarter
Average holding period
19.3 quarters
Weighted by value

How these are calculated

  • Portfolio value: the market value of all long positions in the 13F, as reported at quarter end, excluding options.
  • Top 10 concentration: the combined value of the 10 largest positions as a share of portfolio value.
  • Turnover: the smaller of this quarter's estimated purchases and estimated sales, divided by the average of this and last quarter's portfolio value. Estimates multiply the change in shares by the quarter-end price implied by the filing (market value divided by shares); new positions use this quarter's value and sold-out positions last quarter's. Only positions reported in shares count, and it is not calculated when the previous quarter was not filed.
  • Average holding period: how many consecutive quarters each current position has been held (including this one; a quarter without the position or without a filing starts the count over), weighted by this quarter's value. Counting starts with the first 13F in Livermore (Q1 2021), so positions held before then are understated.

13F filings by quarter

22 quarters, going back to Q1 2021. Bars show each quarter's 13F portfolio value; quarters without a filing are left blank.

Peak $94.0B (Q4 2021)

Q1 2021: $82.6BQ2 2021: $89.1BQ3 2021: $88.6BQ4 2021: $94.0BQ1 2022: $86.3BQ2 2022: $73.9BQ3 2022: $68.4BQ4 2022: $72.6BQ1 2023: $76.3BQ2 2023: $81.2BQ3 2023: $73.5BQ4 2023: $79.0BQ1 2024: $82.3BQ2 2024: $79.7BQ3 2024: $74.8BQ4 2024: $68.4BQ1 2025: $65.1BQ2 2025: $72.7BQ3 2025: $74.2BQ4 2025: $58.9BQ1 2026: $60.7BQ2 2026: $66.1B
Q1 2021Q2 2026
13F filings of Lazard Asset Management LLC by quarter
QuarterFiledPositionsValueTop 3 holdingsChangesFiling
Q2 2026Aug 14, 20261,932$66.1BNVDAAAPLMSFTvs. Q1 2026SEC
Q1 2026May 15, 20261,844$60.7BAAPLMSFTNVDAvs. Q4 2025SEC
Q4 2025Feb 17, 20261,831$58.9BMSFTAAPLAMZNvs. Q3 2025SEC
Q3 2025Nov 14, 20251,786$74.2BMSFTAAPLAMZNvs. Q2 2025SEC
Q2 2025Aug 14, 20252,287$72.7BMSFTAMZNAAPLvs. Q1 2025SEC
Q1 2025May 15, 20252,330$65.1BMSFTAAPLAMZNvs. Q4 2024SEC
Q4 2024Feb 14, 20252,371$68.4BMSFTAMZNAAPLvs. Q3 2024SEC
Q3 2024Nov 14, 20242,321$74.8BMSFTAMZNAAPLvs. Q2 2024SEC
Q2 2024Aug 14, 20242,292$79.7BMSFTAMZNGOOGLvs. Q1 2024SEC
Q1 2024Jul 9, 2024Amended2,050$82.3BMSFTAMZNGOOGLvs. Q4 2023SEC
Q4 2023Feb 14, 20242,298$79.0BMSFTGOOGLAMZNvs. Q3 2023SEC
Q3 2023Nov 14, 20232,313$73.5BMSFTGOOGLAMZNvs. Q2 2023SEC
Q2 2023Aug 15, 20232,340$81.2BMSFTGOOGLAMZNvs. Q1 2023SEC
Q1 2023May 15, 20232,340$76.3BMSFTGOOGLNSCvs. Q4 2022SEC
Q4 2022Feb 15, 20232,416$72.6BMSFTGOOGLNSCvs. Q3 2022SEC
Q3 2022Nov 14, 20222,354$68.4BMSFTGOOGLNSCvs. Q2 2022SEC
Q2 2022Aug 9, 20222,429$73.9BMSFTGOOGLJNJvs. Q1 2022SEC
Q1 2022May 13, 20222,353$86.3BMSFTGOOGLMDTvs. Q4 2021SEC
Q4 2021Feb 9, 20222,293$94.0BMSFTGOOGLMDTvs. Q3 2021SEC
Q3 2021Nov 15, 20212,142$88.6BGOOGLMSFTMDTvs. Q2 2021SEC
Q2 2021Aug 12, 20211,949$89.1BMSFTGOOGLMDTvs. Q1 2021SEC
Q1 2021May 14, 20211,838$82.6BMSFTMDTGOOGL–SEC

13D and 13G filings

Companies where Lazard Asset Management LLC reports owning 5% or more on Schedule 13D or 13G, and its latest filings.

Current stakes of 5% or more

12 companies, largest stake first.

Companies where Lazard Asset Management LLC owns 5% or more
CompanyLatest formStakeChangeFirst filedLatest filingFiling
ARCOArcos Dorados Holdings Inc.13G18.90%24.7M shares+1.20 ppfrom 17.70%Aug 14, 20255 filingsAug 14, 2026SEC
TWNTaiwan Fund Inc13G16.30%923.8K shares−1.67 ppfrom 17.97%Feb 10, 20218 filingsMay 15, 2026SEC
GFNew Germany Fund Inc13G/A14.20%2.30M shares+4.07 ppfrom 10.13%Feb 10, 20217 filingsMay 15, 2025SEC
CAFMorgan Stanley China A Share Fund, Inc.13G13.10%1.74M shares+1.60 ppfrom 11.50%Feb 10, 20219 filingsAug 14, 2026SEC
JOFJapan Smaller Capitalization Fund Inc13G12.30%3.48M shares+4.18 ppfrom 8.12%Feb 10, 20218 filingsDec 3, 2025SEC
KFKorea Fund Inc13G9.10%377.4K shares−4.20 ppfrom 13.30%Feb 10, 20219 filingsMay 15, 2026SEC
TDFTempleton Dragon Fund Inc13G7.30%1.84M shares−4.36 ppfrom 11.66%Feb 10, 20218 filingsMay 15, 2026SEC
GAMGeneral American Investors Co Inc13G6.70%1.58M shares+1.06 ppfrom 5.64%Feb 9, 20218 filingsMay 15, 2026SEC
IIFMorgan Stanley India Investment Fund, Inc.13G6.50%609.4K shares−1.70 ppfrom 8.20%Feb 14, 20247 filingsMay 15, 2026SEC
BRSLBrightstar Lottery PLC13G5.50%10.1M shares+0.60 ppfrom 4.90%Feb 14, 20256 filingsAug 14, 2026SEC
SWZTotal Return Securities Fund13G/A5.10%666.3K shares−6.67 ppfrom 11.77%Feb 9, 20218 filingsAug 14, 2025SEC
MXFMexico Fund Inc13G5.00%717.9K shares−1.93 ppfrom 6.93%Feb 10, 20218 filingsMay 15, 2026SEC

Latest filings

183 filings on file made by Lazard Asset Management LLC or listing it as a reporting person; the latest 20 are shown.

Schedule 13D and 13G filings by Lazard Asset Management LLC
CompanyFiled (ET)FormStakeChangeEvent dateFiling
CAFMorgan Stanley China A Share Fund, Inc.Aug 14, 202610:57 AM ET13G13.10%1.74M shares+1.60 ppfrom 11.50%Jun 30, 2026SEC
BRSLBrightstar Lottery PLCAug 14, 202610:57 AM ET13G5.50%10.1M shares+0.60 ppfrom 4.90%Jun 30, 2026SEC
ARCOArcos Dorados Holdings Inc.Aug 14, 202610:57 AM ET13G18.90%24.7M shares+1.20 ppfrom 17.70%Jun 30, 2026SEC
TDFTempleton Dragon Fund IncMay 15, 20263:58 PM ET13G7.30%1.84M shares−4.36 ppfrom 11.66%Mar 31, 2026SEC
TWNTaiwan Fund IncMay 15, 20263:58 PM ET13G16.30%923.8K shares−1.67 ppfrom 17.97%Mar 31, 2026SEC
IIFMorgan Stanley India Investment Fund, Inc.May 15, 20263:58 PM ET13G6.50%609.4K shares−1.70 ppfrom 8.20%Mar 31, 2026SEC
CAFMorgan Stanley China A Share Fund, Inc.May 15, 20263:58 PM ET13G11.50%1.93M shares−2.22 ppfrom 13.72%Mar 31, 2026SEC
MXFMexico Fund IncMay 15, 20263:58 PM ET13G5.00%717.9K shares−1.93 ppfrom 6.93%Mar 31, 2026SEC
KFKorea Fund IncMay 15, 20263:58 PM ET13G9.10%377.4K shares−4.20 ppfrom 13.30%Mar 31, 2026SEC
GAMGeneral American Investors Co IncMay 15, 20263:58 PM ET13G6.70%1.58M shares+1.06 ppfrom 5.64%Mar 31, 2026SEC
ARCOArcos Dorados Holdings Inc.May 15, 20263:58 PM ET13G17.70%23.2M shares+1.30 ppfrom 16.40%Mar 31, 2026SEC
BRSLBrightstar Lottery PLCMay 15, 20263:58 PM ET13G4.90%9.06M shares−0.10 ppfrom 5.00%Below 5%Mar 31, 2026SEC
KFKorea Fund IncFeb 17, 20263:11 PM ET13G13.30%552.2K shares−1.00 ppfrom 14.30%Dec 31, 2025SEC
IIFMorgan Stanley India Investment Fund, Inc.Feb 17, 20263:11 PM ET13G8.20%772.7K shares+1.00 ppfrom 7.20%Dec 31, 2025SEC
XRAYDentsply Sirona Inc.Feb 17, 20263:11 PM ET13G4.40%8.73M shares−0.70 ppfrom 5.10%Below 5%Dec 31, 2025SEC
BRSLBrightstar Lottery PLCFeb 17, 20263:11 PM ET13G5.00%9.50M shares−1.80 ppfrom 6.80%Dec 31, 2025SEC
ASAASA Gold & Precious Metals LtdFeb 17, 20263:11 PM ET13G0.10%20.8K shares−12.46 ppfrom 12.56%Below 5%Dec 31, 2025SEC
ARCOArcos Dorados Holdings Inc.Feb 17, 20262:54 PM ET13G16.40%21.5M shares+1.00 ppfrom 15.40%Dec 31, 2025SEC
CHNChina Fund, Inc.Feb 17, 20262:54 PM ET13G0.00%0 shares−6.40 ppfrom 6.40%Below 5%Dec 31, 2025SEC
JOFJapan Smaller Capitalization Fund IncDec 3, 20253:30 PM ET13G12.30%3.48M shares+4.18 ppfrom 8.12%Nov 28, 2025SEC