Lazard Freres Gestion S.A.S.

In its 13F for Q2 2024 (holdings as of June 30, 2024, filed July 29, 2024), Lazard Freres Gestion S.A.S. reported 93 stock positions worth $4.3 billion. Its top holding was Microsoft (MSFT) at 9.7% of the portfolio, followed by Amazon.com (AMZN, 7.5%) and Alphabet Class A (GOOGL, 5.7%). Compared with Q1 2024, it opened 19 new positions, sold out of 3, added to 34 and reduced 25. The biggest buy was Apple (AAPL, shares +94%) and the biggest sale Parker Hannifin (PH, shares −2%).

Most Recent 13F
Q2 2026
Location
PARIS, I0
CIK
0001426748
Portfolio Value
$4.3B (Q2 2024)
SEC Filing
0001426748-24-000003 ↗ filed Jul 29, 2024

Holdings Value

0$2.0B$4.0B$6.0B Q1 2024: $4.0B Q1 2024 Q2 2024: $4.3B $4.3B Q2 2024 Q3 2024: $4.7B Q3 2024 Q4 2024: $5.0B Q4 2024 Q1 2025: $4.1B Q1 2025 Q2 2025: $4.1B Q2 2025 Q3 2025: $5.3B Q3 2025 Q4 2025: $5.6B Q4 2025 Q1 2026: $5.1B Q1 2026 Q2 2026: $5.8B Q2 2026

Holdings 93 stocks · $4.3B
MSFT Microsoft Corp. 9.73% 968,000 $421.9M Add +2.8%
AMZN Amazon.com Inc. 7.45% 1,701,299 $323.1M Add +1.3%
GOOGL Alphabet Inc. Class A 5.69% 1,396,944 $246.8M Reduce -5.8%
V Visa Inc. Class A 4.96% 837,349 $215.2M Add +4.9%
MRK Merck & Co. Inc. 4.49% 1,604,164 $194.7M Add +0.3%
ACN Accenture PLC Class A 4.27% 620,439 $185.2M Add +17.4%
AAPL Apple Inc. 4.01% 844,925 $174.0M Add +93.9%
NVDA Nvidia Corp. 3.37% 1,227,839 $146.0M Add +4.7%
GOOG Alphabet Inc. Class C 3.29% 778,151 $142.8M Reduce -0.4%
RTX RTX Corp. 3.24% 1,428,938 $140.7M Add +3.3%
BDX Becton Dickinson and Co. 3.12% 590,733 $135.4M Add +1.7%
PH Parker Hannifin Corp. 3.08% 270,578 $133.7M Reduce -2.0%
ZTS Zoetis Inc. 2.73% 693,616 $118.4M Add +25.6%
CVX Chevron Corp. 2.44% 690,651 $105.7M Reduce -1.6%
OTIS Otis Worldwide Corp. 2.26% 1,038,819 $97.9M Add +0.3%
MSI Motorola Solutions Inc. 2.18% 255,005 $94.5M Add +0.3%
ECL Ecolab Inc. 1.86% 350,630 $80.6M Add +0.3%
KLAC KLA Corp. 1.76% 96,645 $76.2M Reduce -2.1%
AMAT Applied Materials Inc. 1.73% 331,538 $75.1M Reduce -2.4%
APH Amphenol Corp. Class A 1.71% 1,137,121 $73.9M Reduce -9.0%
MDT Medtronic PLC 1.65% 938,635 $71.5M Add +12.9%
EL Estee Lauder Companies Class A filed as LAUDER ESTEE COS INC 1.61% 673,795 $69.9M Add +14.9%
ADBE Adobe Inc. 1.51% 124,098 $65.6M Add +19.8%
DIS The Walt Disney Co. filed as DISNEY WALT CO 1.50% 675,376 $65.2M Add +3.0%
ICE Intercontinental Exchange Inc. 1.50% 494,594 $65.0M Reduce -4.3%
BALL Ball Corp. 1.34% 995,727 $58.0M Reduce -2.6%
COST Costco Wholesale Corp. 1.20% 63,725 $52.1M Reduce -32.5%
HON Honeywell International Inc. 1.17% 247,103 $50.6M Reduce -5.3%
ROST Ross Stores Inc. 1.16% 363,957 $50.4M Reduce -6.2%
MS Morgan Stanley 1.14% 532,585 $49.3M Add +0.5%
BAC Bank of America Corp. filed as BANK AMERICA CORP 1.11% 1,265,726 $47.9M Reduce -3.9%
TMUS T-Mobile US Inc. 1.07% 275,259 $46.6M Reduce -0.0%
CL Colgate-Palmolive Co. 1.06% 494,858 $46.1M Add +0.4%
WFC Wells Fargo & Co. 1.05% 800,576 $45.6M Add +1.7%
NKE Nike Inc. Class B 1.00% 607,043 $43.3M Add +28.7%
PG The Procter & Gamble Co. 0.98% 256,708 $42.3M Reduce -0.5%
MDLZ Mondelez International Inc. Class A 0.93% 642,696 $40.2M Reduce -4.1%
SPY SS SPDR S&P 500 ETF Trust-US 0.83% 66,138 $36.1M Add +36.3%
JNJ Johnson & Johnson 0.81% 239,172 $35.0M Reduce -0.0%
PEP Pepsico Inc. 0.76% 207,965 $33.0M Reduce -0.2%
EOG EOG Resources Inc. 0.72% 256,690 $31.0M Reduce 0.0%
BRK.B Berkshire Hathaway Inc. Class B 0.51% 54,184 $22.1M Add +10.2%
META Meta Platforms Inc. Class A 0.26% 22,678 $11.4M Add +18.0%
HD Home Depot Inc. 0.23% 28,630 $9.8M Add +1.9%
BRK.A Berkshire Hathaway Inc. Class A 0.17% 12 $7.4M Add +20.0%
AMD Advanced Micro Devices 0.15% 40,400 $6.5M Add +9.8%
CRM Salesforce Inc. 0.14% 24,287 $6.2M Reduce -2.2%
NOW ServiceNow Inc. 0.13% 7,000 $5.5M New
SNPS Synopsys Inc. 0.11% 8,000 $4.8M New
AVGO Broadcom Inc. 0.07% 1,900 $3.0M New
LLY Eli Lilly & Co. 0.06% 2,774 $2.5M Add +33.6%
IVV iShares Core S&P 500 ETF 0.04% 3,500 $1.9M Reduce -5.4%
AXP American Express Co. 0.04% 8,235 $1.9M No change
VTEB Vanguard Tax-Exempt Bond ETF 0.04% 37,500 $1.9M No change
CVS CVS Health Corp. 0.04% 29,846 $1.8M Add +2.2%
CDNS Cadence Design SYS Inc. 0.04% 5,400 $1.7M New
MU Micron Technology Inc. 0.04% 12,000 $1.6M New
HLT Hilton Worldwide Holdings Inc. 0.03% 6,820 $1.3M Add +17.0%
CARR Carrier Global Corp. 0.03% 19,965 $1.3M No change
AWK American Water Works Co. Inc. 0.03% 10,970 $1.2M New
SPGI S&P Global Inc. 0.03% 3,055 $1.2M Add +12.1%
CI The Cigna Group 0.02% 3,656 $1.1M Add +37.1%
JCI Johnson Controls Internation 0.02% 17,765 $1.0M Add +17.1%
ADP Automatic Data Processing 0.02% 3,594 $754K Reduce -18.3%
MMM 3M Co. 0.02% 7,232 $744K Reduce -2.7%
XYL Xylem Inc. 0.02% 5,800 $684K New
SYK Stryker Corp. 0.02% 2,000 $680K No change
XOM Exxon Mobil Corp. 0.01% 5,150 $591K No change
KO The Coca-Cola Co. 0.01% 8,775 $560K No change
NFLX Netflix Inc. 0.01% 792 $541K No change
QQQ Invesco QQQ Trust Series 1 0.01% 1,125 $539K No change
IJH iShares Core S&P Midcap ETF 0.01% 9,050 $527K No change
IJR iShares Core S&P Small-Cap E 0.01% 4,602 $486K No change
ONON On Holding AG Class A filed as ON HLDG AG 0.01% 11,842 $459K Reduce -21.1%
PWR Quanta Services Inc. 0.01% 2,000 $442K New
PLD Prologis Inc. 0.01% 4,500 $439K New
JPM JPMorgan Chase & Co. 0.01% 2,187 $435K Add +13.2%
VTWO Vanguard Russell 2000 ETF 0.01% 5,200 $424K No change
KAI Kadant Inc. 0.01% 1,600 $409K New
CLH Clean Harbors Inc. 0.01% 190,000 $374K New
TSLA Tesla Inc. 0.01% 1,831 $361K Reduce -18.8%
OC Owens Corning 0.01% 2,300 $347K New
ORCL Oracle Corp. 0.01% 2,400 $336K No change
J Jacobs Solutions Inc. 0.01% 2,750 $334K New
FSLR First Solar Inc. 0.01% 1,700 $333K New
TTEK Tetra Tech Inc. 0.01% 185,000 $329K New
ENPH Enphase Energy Inc. 0.01% 3,100 $269K New
ABT Abbott Laboratories 0.01% 2,500 $260K No change
WMS Advanced Drainage Systems Inc. 0.01% 180,000 $251K New
FLNC Fluence Energy Inc. 0.01% 1,550,000 $233K New
CSCO Cisco Systems Inc. 0.01% 4,614 $218K No change
CAT Caterpillar Inc. 0.00% 630 $206K No change
NXT Nextpower Inc. filed as NEXTRACKER INC 0.00% 500,000 $204K New

Portfolio Sells Q1 2024 → Q2 2024
PH Parker Hannifin Corp. Reduce -2.0% 3.08% −0.62
COST Costco Wholesale Corp. Reduce -32.5% 1.20% −0.44
BALL Ball Corp. Reduce -2.6% 1.34% −0.31
CVX Chevron Corp. Reduce -1.6% 2.44% −0.24
ICE Intercontinental Exchange Inc. Reduce -4.3% 1.50% −0.18
MDLZ Mondelez International Inc. Class A Reduce -4.1% 0.93% −0.18
ROST Ross Stores Inc. Reduce -6.2% 1.16% −0.17
JNJ Johnson & Johnson Reduce -0.0% 0.81% −0.13
PEP Pepsico Inc. Reduce -0.2% 0.76% −0.10
HON Honeywell International Inc. Reduce -5.3% 1.17% −0.10
BAC Bank of America Corp. Reduce -3.9% 1.11% −0.07
EOG EOG Resources Inc. Reduce 0.0% 0.72% −0.06
PG The Procter & Gamble Co. Reduce -0.5% 0.98% −0.06
CRM Salesforce Inc. Reduce -2.2% 0.14% −0.04
APH Amphenol Corp. Class A Reduce -9.0% 1.71% −0.01
ADP Automatic Data Processing Reduce -18.3% 0.02% −0.01
ABBV Abbvie Inc. Sold out 0.00% −0.01
INTC Intel Corp. Sold out 0.00% −0.01
IVV iShares Core S&P 500 ETF Reduce -5.4% 0.04% −0.00
LXRX Lexicon Pharmaceuticals Inc. Sold out 0.00% −0.00
ONON On Holding AG Class A Reduce -21.1% 0.01% −0.00
MMM 3M Co. Reduce -2.7% 0.02% −0.00
TSLA Tesla Inc. Reduce -18.8% 0.01% −0.00
TMUS T-Mobile US Inc. Reduce -0.0% 1.07% +0.01
AMAT Applied Materials Inc. Reduce -2.4% 1.73% +0.07
KLAC KLA Corp. Reduce -2.1% 1.76% +0.13
GOOG Alphabet Inc. Class C Reduce -0.4% 3.29% +0.35
GOOGL Alphabet Inc. Class A Reduce -5.8% 5.69% +0.35

Portfolio Buys Q1 2024 → Q2 2024
AAPL Apple Inc. Add +93.9% 4.01% +2.19
NVDA Nvidia Corp. Add +4.7% 3.37% +0.85
ZTS Zoetis Inc. Add +25.6% 2.73% +0.47
ADBE Adobe Inc. Add +19.8% 1.51% +0.29
SPY SS SPDR S&P 500 ETF Trust-US Add +36.3% 0.83% +0.20
MSFT Microsoft Corp. Add +2.8% 9.73% +0.18
NOW ServiceNow Inc. New 0.13% +0.13
AMZN Amazon.com Inc. Add +1.3% 7.45% +0.12
SNPS Synopsys Inc. New 0.11% +0.11
AVGO Broadcom Inc. New 0.07% +0.07
MSI Motorola Solutions Inc. Add +0.3% 2.18% +0.04
CDNS Cadence Design SYS Inc. New 0.04% +0.04
MU Micron Technology Inc. New 0.04% +0.04
META Meta Platforms Inc. Class A Add +18.0% 0.26% +0.03
AWK American Water Works Co. Inc. New 0.03% +0.03
LLY Eli Lilly & Co. Add +33.6% 0.06% +0.02
XYL Xylem Inc. New 0.02% +0.02
BRK.A Berkshire Hathaway Inc. Class A Add +20.0% 0.17% +0.01
CL Colgate-Palmolive Co. Add +0.4% 1.06% +0.01
PWR Quanta Services Inc. New 0.01% +0.01
PLD Prologis Inc. New 0.01% +0.01
KAI Kadant Inc. New 0.01% +0.01
CLH Clean Harbors Inc. New 0.01% +0.01
OC Owens Corning New 0.01% +0.01
FSLR First Solar Inc. New 0.01% +0.01
J Jacobs Solutions Inc. New 0.01% +0.01
TTEK Tetra Tech Inc. New 0.01% +0.01
ENPH Enphase Energy Inc. New 0.01% +0.01
WMS Advanced Drainage Systems Inc. New 0.01% +0.01
FLNC Fluence Energy Inc. New 0.01% +0.01
NXT Nextpower Inc. New 0.00% +0.00
CI The Cigna Group Add +37.1% 0.02% +0.00
HLT Hilton Worldwide Holdings Inc. Add +17.0% 0.03% +0.00
SPGI S&P Global Inc. Add +12.1% 0.03% +0.00
JCI Johnson Controls Internation Add +17.1% 0.02% +0.00
JPM JPMorgan Chase & Co. Add +13.2% 0.01% +0.00
BRK.B Berkshire Hathaway Inc. Class B Add +10.2% 0.51% −0.00
AMD Advanced Micro Devices Add +9.8% 0.15% −0.01
CVS CVS Health Corp. Add +2.2% 0.04% −0.02
RTX RTX Corp. Add +3.3% 3.24% −0.02
WFC Wells Fargo & Co. Add +1.7% 1.05% −0.03
MS Morgan Stanley Add +0.5% 1.14% −0.03
HD Home Depot Inc. Add +1.9% 0.23% −0.04
NKE Nike Inc. Class B Add +28.7% 1.00% −0.05
ECL Ecolab Inc. Add +0.3% 1.86% −0.06
MDT Medtronic PLC Add +12.9% 1.65% −0.07
ACN Accenture PLC Class A Add +17.4% 4.27% −0.17
OTIS Otis Worldwide Corp. Add +0.3% 2.26% −0.23
BDX Becton Dickinson and Co. Add +1.7% 3.12% −0.36
DIS The Walt Disney Co. Add +3.0% 1.50% −0.41

All Filings

QuarterPositions13F Reported ValueTop Holdings
Q2 2026 115$5.8BGOOGL, MSFT, AAPL, AMZN, NVDA
Q1 2026 123$5.1BMSFT, GOOGL, AMZN, AAPL, NVDA
Q4 2025 112$5.6BMSFT, GOOGL, AMZN, AAPL, NVDA
Q3 2025 112$5.3BMSFT, GOOGL, AMZN, AAPL, NVDA
Q2 2025 89$4.1BMSFT, AMZN, AAPL, GOOGL, V
Q1 2025 103$4.1BMSFT, AMZN, GOOGL, AAPL, V
Q4 2024 101$5.0BMSFT, AMZN, GOOGL, V, AAPL
Q3 2024 97$4.7BMSFT, AMZN, GOOGL, AAPL, V
Q2 2024 93$4.3BMSFT, AMZN, GOOGL, V, MRK
Q1 2024 77$4.0BMSFT, AMZN, V, GOOGL, MRK