undamentalytics Newsletter
Sign in

Funds (13F)

Lazard Asset Management LLC

Backtest from 16 Aug 2013 to 2 Nov 2026 · weekly · hypothetical

Watch this strategy
Return a year
+16.2%
S&P 500 +14.1%
Last 12 months
+14.1%
S&P 500 +12.1%
Sharpe ratio
0.69
S&P 500 0.56
Biggest drop
−33.2%
S&P 500 −42.3%
$10.0k$20.0k$40.0k 2013201520172019202120232025 $72.5k$57.0k
Lazard Asset Management LLCS&P 500 $10,000 in Lazard Asset Management LLC from 16 Aug 2013 against the S&P 500 (total return) over the same dates, marked weekly, log scale. Hypothetical: before taxes and trading costs.

About

Copies Lazard Asset Management LLC's quarterly 13F holdings in the companies we cover, weighted by reported value: it buys on the first trading day after each 13F is filed (up to 45 days after the quarter) and holds until the next filing. A 13F shows long US-listed positions only, at the quarter's end, so this misses shorts, cash, bonds, non-US holdings and trading within the quarter.

Lazard Asset Management LLC's 13F holdings →

Key statistics

MeasureStrategyS&P 500
Return a year (compound)+16.2%+14.1%
Total return+625%+470%
Last 12 months+14.1%+12.1%
Last 3 months+2.5%—
Last month+0.2%—
This year so far+11.8%—
Volatility a year15.6%17.4%
Sharpe ratio0.690.56
Biggest drop−33.2%−42.3%
Beta to the S&P 5000.781.00
Alpha a year (t-statistic)+3.2% (1.69)—
Share of weeks up59%—

Sharpe ratio uses returns above the 3-month Treasury bill rate. Alpha is the yearly return left after allowing for the strategy's exposure to the S&P 500 (CAPM); a t-statistic below about 2 means it cannot be told apart from luck.

Insights

CompanyWeightHeld sinceReturn since
NVDA4.4%——
AAPL4.0%——
MSFT3.4%——
AMZN3.2%——
EXC2.5%——
TSM2.4%——
AMT2.3%——
GOOGL2.1%——
CCI1.9%——
FER1.7%——
ED1.6%——
V1.4%——
LLY1.4%——
KLAC1.2%——
AMD1.2%——
MU1.1%——
ADI1.1%——
AVGO1.1%——
PANW1.1%——
BAC1.1%——
ASML1.0%——
TMO1.0%——
AMX0.9%——
APH0.9%——
AME0.8%——
AZN0.7%——
PG0.7%——
PBR0.7%——
ICE0.7%——
ROK0.7%——
AMAT0.6%——
AON0.6%——
ISRG0.6%——
ASX0.6%——
VALE0.6%——
META0.6%——
DHR0.6%——
JNJ0.6%——
QCOM0.6%——
LIN0.6%——
CDNS0.5%——
CB0.5%——
KO0.5%——
SCHW0.5%——
RBA0.5%——
WM0.5%——
HDB0.5%——
TT0.5%——
SLB0.5%——
COR0.4%——
MRSH0.4%——
ADSK0.4%——
EFX0.4%——
ETN0.4%——
TER0.4%——
LRCX0.4%——
MRK0.4%——
BNY0.4%——
TSLA0.4%——
BSX0.4%——
UNH0.4%——
USB0.4%——
C0.3%——
GE0.3%——
B0.3%——
ARCO0.3%——
TJX0.3%——
PEP0.3%——
MA0.3%——
IQV0.3%——
BX0.3%——
IR0.3%——
UL0.3%——
COST0.3%——
HD0.3%——
ACN0.3%——
LMT0.3%——
CBRE0.3%——
SYK0.3%——
SPGI0.3%——
COHR0.3%——
SU0.3%——
IPGP0.3%——
CGNX0.3%——
ZBRA0.3%——
TRMB0.3%——
JPM0.3%——
CL0.3%——
MCO0.3%——
CRH0.3%——
MCD0.3%——
AMP0.3%——
INTC0.3%——
SIMO0.3%——
URI0.3%——
COP0.2%——
ALL0.2%——
ADBE0.2%——
J0.2%——
FISV0.2%——
CAT0.2%——
GD0.2%——
CHKP0.2%——
ODFL0.2%——
AEM0.2%——
NTAP0.2%——
PGR0.2%——
HRB0.2%——
FIX0.2%——
ARGX0.2%——
NXPI0.2%——
HCA0.2%——
BA0.2%——
MRVL0.2%——
EMR0.2%——
SNPS0.2%——
MO0.2%——
DE0.2%——
NTES0.2%——
OMC0.2%——
BRSL0.2%——
CAH0.2%——
GEV0.2%——
MANH0.2%——
HIMX0.2%——
CMI0.2%——
CSCO0.2%——
AEP0.2%——
ROST0.2%——
VRSK0.2%——
RY0.2%——
RTX0.2%——
AJG0.2%——
UBER0.2%——
FROG0.2%——
LH0.1%——
NFLX0.1%——
XRAY0.1%——
WMT0.1%——
BABA0.1%——
TGT0.1%——
A0.1%——
GS0.1%——
AU0.1%——
XYL0.1%——
TEL0.1%——
EXPE0.1%——
NOW0.1%——
AEE0.1%——
AXP0.1%——

Weighted by reported value in the latest 13F, held until the next filing.

PeriodReturn a yearS&P 500SharpeS&P 500Biggest dropBetaAlpha (t)
Whole backtest16 Aug 2013 to 2 Nov 2026+16.2%+14.1%0.690.56−33.2%0.78+3.2% (1.69)
2018 onwards5 Jan 2018 to 2 Nov 2026+16.4%+13.9%0.560.44−33.2%0.75+3.0% (1.26)
Last three years3 Nov 2023 to 2 Nov 2026+18.0%+21.8%0.991.16−16.3%0.89−1.5% (−0.68)
Last year7 Nov 2025 to 2 Nov 2026+15.9%+14.2%1.050.84−8.3%0.83+3.1% (0.68)
DateCompanyAction
21 Aug 2026ZSBought
21 Aug 2026YSWYBought
21 Aug 2026XPERBought
21 Aug 2026WWWBought
21 Aug 2026WAYBought
21 Aug 2026VTRBought
21 Aug 2026VTEXBought
21 Aug 2026VSTMBought
21 Aug 2026VSHBought
21 Aug 2026VRDNBought
21 Aug 2026VOYABought
21 Aug 2026VOXRBought
21 Aug 2026VNETBought
21 Aug 2026VMETBought
21 Aug 2026VIRTBought
21 Aug 2026VICRBought
21 Aug 2026VGNTBought
21 Aug 2026VFFBought
21 Aug 2026UVSPBought
21 Aug 2026UGIBought
21 Aug 2026UCTTBought
21 Aug 2026UALBought
21 Aug 2026TWINBought
21 Aug 2026TVTXBought
21 Aug 2026TTMIBought

Dated at the rebalance that made the change.

DateCompanyAction
21 Aug 2026ZYMESold
21 Aug 2026ZWSSold
21 Aug 2026YEXTSold
21 Aug 2026YALASold
21 Aug 2026XTNTSold
21 Aug 2026WTWSold
21 Aug 2026WTSold
21 Aug 2026WRBYSold
21 Aug 2026WKCSold
21 Aug 2026WKSold
21 Aug 2026WIXSold
21 Aug 2026WERNSold
21 Aug 2026VOYGSold
21 Aug 2026VCSold
21 Aug 2026UVVSold
21 Aug 2026USLMSold
21 Aug 2026USFDSold
21 Aug 2026UISSold
21 Aug 2026TSNSold
21 Aug 2026TMESold
21 Aug 2026TICSold
21 Aug 2026TAYDSold
21 Aug 2026TASKSold
21 Aug 2026STVNSold
21 Aug 2026STRASold

Dated at the rebalance that made the change.

Backtests are hypothetical and use today's listed companies only, which flatters results. Past performance does not predict future returns. This is research, not investment advice. How we backtest