What smart money is saying about Lazard
LAZ
No fund has written a full thesis on Lazard in our archive, but 4 fund letters report a position in it, most recently Cambiar Investors SMID Fund in September 2026.
Get an email when a fund buys, sells or pitches it
4
Reported positions
1
Bought
1
Sold
4
Letters
Position history
Between Q4 2025 and Q3 2026, 4 fund letters reported a position in Lazard, with 1 buy (opened or added) and 1 sell (trimmed or exited).
| Quarter | Letters | Bought | Sold | Theses |
|---|---|---|---|---|
| Q3 2026 | 2 | 1 | 0 | 0 |
| Q2 2026 | 1 | 0 | 0 | 0 |
| Q4 2025 | 1 | 0 | 1 | 0 |
Bought and Sold count moves: the same sentence published by several funds of one house in a quarter counts once.
Fund activity · 4 positions · 2 moves
- September 2026
“Staying with Financials, Cambiar’s holdings in the sector held up well vs. the index, resulting in a positive contribution to relative performance for the quarter. Although the portfolio incurred drawdowns in Prosperity Bancshares and Lazard, strong gains from non-bank holdings such as WEX, Reinsurance Group of America, and CBOE Global Markets provided a good offset.”
Lazard - September 2026
“Lazard is a financial advisory and asset management firm.”
Lazard - June 2026
“Representing ~21% of total portfolio capital, Financials remains the largest sector allocation in the SMID Fund. Although the portfolio generated an aggregate positive return from the sector for the quarter, our holdings trailed the index. At a company level, drawdowns in Lazard and Cboe Global Markets weighed on results.”
Lazard - December 2025
“We also exited several US holdings as their businesses began to show signs of stress. One was Live Oak Bank, which appeared particularly vulnerable to the negative effects of the Trump administration’s tariffs: Its small-business customers are less able to absorb tariff pressures, increasing the risk of higher loan-loss provisions. At Open Lending, which provides risk-assessment services to auto lenders and insurers, a reversal in used-car prices exposed accounting concerns and management missteps. Lazard was sold primarily due to a weakening growth outlook.”
Lazard
Read the letters behind these Lazard positions
Every quote above comes from a fund letter in our archive. Get unlimited access to the letters themselves, and to Warren AI, which reads all of them for you.
View plans→Share this ledger