Lazard's Strategic Portfolio Adjustments
Lazard Asset Management Adjusts Diversified Portfolio with Key Stake Increases in Q1
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Key Points
1
Lazard added 90,124 Ameriprise shares in Q1, bringing its Ameriprise stake to 325,116 shares; Ameriprise also beat Q2 estimates with EPS of $11.07.
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Institutional investors own 83.95% of Ameriprise stock.
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Lazard increased its Linde holding by 9,545 shares in Q1 to a total of 654,947; institutional ownership is reported at 82.80%.
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Lazard owns 1,331,922 Ameren shares, about 0.48% of Ameren.
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Lazard’s Thermo Fisher position is the 18th biggest holding in its portfolio.
Lazard Asset Management LLC made a big move in early 2025, boosting its stake in Ameriprise Financial by 38.4% in the first quarter. The firm bought 90,124 additional shares, bringing its total to 325,116 shares worth about $144.5 million, according to Watchlist News.
The purchase is part of a broader pattern of portfolio adjustments across multiple industries. Lazard added shares in some companies and trimmed others, showing a diversified strategy that spans financial services, utilities, basic materials, and life sciences.
Ameriprise Bet Grows as Earnings Beat Estimates
Lazard's Ameriprise buy was its most notable move of the quarter. The 38.4% increase made its $144.5 million stake one of the larger positions tied to a single financial services firm. Ameriprise also had a strong quarter on its own terms, reporting earnings per share of $11.07, which beat analyst estimates, according to Watchlist News.
Ameriprise is heavily owned by large institutions. Institutional investors hold 83.95% of the company's stock. Lazard's growing position puts it alongside a crowded field of major funds betting on the wealth management giant.
Lazard Adds to Linde and Ameren Holdings Too
Lazard also grew its stake in Linde PLC, the industrial gas company, by 1.5%. It bought 9,545 more shares, pushing its total to 654,947 shares worth roughly $324.8 million, per Watchlist News. Institutional investors own 82.80% of Linde's stock.
In the utilities space, Lazard raised its Ameren Corporation position by 42.9%. It now holds 1,331,922 shares, which equals about 0.48% of the company and is valued at roughly $146.4 million. That is a big jump for a single quarter in one utility stock.
Thermo Fisher Trimmed but Stays a Top-20 Holding
Not every move was a buy. Lazard cut its stake in Thermo Fisher Scientific by 1.0%, selling enough shares to bring its total down to 1,222,057. The position is still worth around $600.7 million, making it the 18th largest holding in Lazard's portfolio, according to Watchlist News.
The small trim suggests Lazard still has strong conviction in Thermo Fisher. A 1% cut in a $600 million position is more of a fine-tuning move than a retreat. It remains a cornerstone of Lazard's life sciences exposure.
Lazard's Broader Strategy: Spread Risk Across Sectors
Lazard also made moves in other companies during Q1. It bought 8,043 shares of Waste Management and increased its Arcos Dorados stake by 7.9%, adding over 1.7 million shares of the restaurant operator, per Watchlist News. It reduced its CBRE Group position by 0.4% and cut its PTC Inc. stake by 13.5%.
The pattern shows a firm that is not betting heavy on one sector. Lazard spreads its money across financial services, waste management, utilities, industrial gases, and life sciences. That kind of spread is a sign of a long-term, risk-aware investment strategy.
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