Lazard Asset Management

Quarters on file

Each quarter on file, back to June 2016 when the filing exists. Net bought is the share change from the previous quarter at that quarter’s close. A split that leaves the dollar value in place counts as flat.

• Q2 2026159 names · $904K in calls, not in the total$5.3B−$174M
• Q1 2026149 names · $2.7M in calls, not in the total$5.1B+$459M
• Q4 2025147 names · $10.0M in calls, not in the total$6.1B−$1.5B
• Q3 2025152 names · $5.2M in calls, not in the total$8.3B+$483M
• Q2 2025178 names$7.8B+$623M
• Q1 2025169 names$6.0B+$385M
• Q4 2024164 names$6.3B−$668M
• Q3 2024163 names$6.9B−$1.1B
• Q2 2024151 names$8.2B−$497M
• Q1 2024147 names$8.4B+$165M
• Q4 2023151 names$7.6B+$136M
• Q3 2023149 names$6.3B−$60.1M
• Q2 2023148 names$6.7B−$301M
• Q1 2023143 names$6.1B−$186M
• Q4 2022149 names$5.4B−$154M
• Q3 2022132 names$5.3B−$181M
• Q2 2022135 names$5.9B+$484M
• Q1 2022129 names$6.8B−$172M
• Q4 2021123 names$7.7B−$296M
• Q3 2021115 names$7.3B−$284M
• Q2 2021105 names$7.4B+$496M
• Q1 202182 names$6.2B+$319M
• Q4 202088 names$5.7B−$236M
• Q3 202073 names$5.3B−$201M
• Q2 202072 names$5.2B+$286M
• Q1 202071 names$3.8B+$446M
• Q4 201964 names$3.8B+$386M
• Q3 201968 names$3.0B+$7.9M
• Q2 201954 names$3.1B+$62.2M
• Q1 201941 names$2.8B+$467M
• Q4 201836 names$1.9B+$122M
• Q3 201833 names$2.1B+$117M
• Q2 201833 names$1.7B+$99.5M
• Q1 201828 names$1.5B−$8.8M
• Q4 201726 names$1.4B+$79.5M
• Q3 201726 names$1.2B+$32.6M
• Q2 201725 names$1.1B−$139M
• Q1 201728 names$1.2B+$7.6M
• Q4 201626 names$1.1B+$20.8M
• Q3 201622 names$991M−$206M
• Q2 201623 names$1.1B—

What moved the book

The five software lines with the largest share change this quarter.

• MicrosoftMSFT−$144M$620M
• Palo Alto NetworksPANW+$49.7M$84.9M
• IntuitINTU+$40.0M$53.8M
• MorningstarMORN−$26.9M$8.6M
• Automatic Data Processing, Inc.ADP−$14.5M$50K

Software held

• MicrosoftMSFT8,997,493 shares · 57.4% of their software · price +$27.6M$620M−$144M
• Palo Alto NetworksPANW634,614 shares · 7.9% of their software · price +$13.4M$84.9M+$49.7M
• IntuitINTU405,036 shares · 5.0% of their software · price +$6.8M$53.8M+$40.0M
• Check PointCHKP427,237 shares · 4.3% of their software · price +$2.7M$46.6M−$13.9M
• OracleORCL831,632 shares · 3.9% of their software · price +$4.6M$41.7M−$9.4M
• PTCPTC741,233 shares · 3.8% of their software · price +$1.9M$40.9M+$6.7M
• Fiserv, Inc.FISV329,877 shares · 3.7% of their software · price +$2.3M$40.4M+$6.5M
• SAPSAP354,983 shares · 3.4% of their software · price +$2.3M$37.2M−$1.2M
• SynopsysSNPS385,446 shares · 2.6% of their software$28.1M+$5.7M
• F5, Inc.FFIV207,845 shares · 2.4% of their software · price −$3.2M$26.4M+$2.3M
• AdobeADBE139,828 shares · 1.8% of their software · price +$1.6M$19.8M+$4.3M
• MorningstarMORN109,323 shares · 0.8% of their software$8.6M−$26.9M
• Paychex, Inc.PAYX146,953 shares · 0.8% of their software$8.4M−$6.5M
• GoDaddyGDDY175,473 shares · 0.7% of their software · price +$793K$7.4M−$6.7M
• Amdocs LimitedDOX81,817 shares · 0.5% of their software$5.3MFlat
• AkamaiAKAM70,351 shares · 0.3% of their software · price −$696K$3.5M−$9.2M
• WorkdayWDAY30,200 shares · 0.3% of their software$2.9MFlat
• WixWIX38,074 shares · 0.2% of their software$2.6M−$4.5M
• ServiceNowNOW21,325 shares · 0.2% of their software$2.3MFlat
• FactSetFDS2,065 shares · 0.0% of their software$343K−$12.3M
• Automatic Data Processing, Inc.ADP491 shares · 0.0% of their software$50K−$14.5M
• SalesforceCRM350 shares · 0.0% of their software$30KFlat
• CadenceCDNS746 shares · 0.0% of their software$24KFlat
• VeriskVRSK146 shares · 0.0% of their software$12KFlat
• Tucows Inc.TCX204 shares · 0.0% of their software$10KNew · Flat