Lazard Freres Gestion S.A.S.

Q4 2025 13F-HR Holdings

Location
Paris, I0
Holdings as of
12/31/2025
Date filed
2/6/2026
Form type
13F-HR
Num holdings
112
Total value ($000)
$5,550,473
Net value change ($000)
+297,117 (5.7%)
New positions
5
Sold out positions
4
Turnover %
0.4%
Sector allocation + QoQ delta (equities-only)
Prev filing: 10/21/2025 Next filing: — SEC filing

Snapshot: Change Analysis

Compared to Q3 2025
Methodology: sector metrics are equities-only; instrument mix chart is ex-options; options exposure is shown separately. Why this matters.
Top Adds (Value $000, Stocks/ETFs)
GOOGL 61,486 18.0%
EL 44,756 61.9%
ACN 39,664 27.5%
V 31,561 14.0%
AMZN 29,695 8.8%
MRK 27,321 27.8%
SPGI 27,241 32.5%
COST 21,314 27.2%
NKE 19,990 36.0%
MDT 18,081 12.4%
Top Reduces (Value $000, Stocks/ETFs)
ZTS -30,237 -18.5%
MSFT -23,632 -4.5%
EOG -17,392 -100.0%
BRK-B -16,621 -39.4%
ECL -14,648 -19.1%
BDX -13,550 -15.7%
KLAC -11,955 -18.0%
MDLZ -9,881 -20.7%
ICE -9,873 -13.8%
TMUS -9,216 -21.0%
Instrument mix + QoQ Δ (ex-options)
How this table is calculated: SEC VALUE ($000) is used as reported. For derivatives (PUT/CALL/WARRANT/RIGHT), SEC value represents reported underlying exposure, not premium cash paid/received. Column % is bucket-based: non-options share is calculated inside non-option total, options share is calculated inside options total. Details.
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Instrument:
Issuer Name Ticker Sector Industry Class History Value ($000) % Shares Shares Δ Shares Δ% Value Δ ($000) Value Δ% Principal Option Type