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Lazard US Equity Concentrated Open LEVOX

Medalist Rating as of | See Lazard Investment Hub
  • NAV / 1-Day Return 8.69  /  −0.91 %
  • Total Assets 156.1 Mil
  • Adj. Expense Ratio
  • Expense Ratio 1.040%
  • Distribution Fee Level Above Average
  • Share Class Type No Load
  • Category Large Blend
  • Investment Style Large Blend
  • Min. Initial Investment 2,500
  • Status Open
  • TTM Yield 0.84%
  • Turnover 69%

USD | NAV as of Feb 26, 2024 | 1-Day Return as of Feb 26, 2024, 11:14 PM GMT+0

Morningstar’s Analysis LEVOX

Will LEVOX outperform in future?

Get our overall rating based on a fundamental assessment of the pillars below.

Lazard U.S. Equity Concentrated Expects Huge Capital Gains

null David Carey

David Carey

Analyst Note

Lazard recently announced Lazard U.S. Equity Concentrated's 2023 distribution estimates. The fund expects to distribute roughly $5.65 per share at the end of 2023, which would be an astonishing 40% of its net asset value as of Oct. 18, 2023. Most of the distribution is expected to be long-term gains, which get taxed at a lower rate, but investors in taxable accounts should still anticipate a hefty tax bill. Morningstar estimates that the fund had nearly $970 million in outflows in 2023 through September, which was nearly 80% of the fund's year-end 2022 $1.2 billion assets under management. The outflows come amid a stretch of underperformance and likely led the managers to sell or trim holdings to meet redemptions. The fund's shrinkage is a cause for concern, but the strategy itself still has about $4 billion following it, mostly in separate accounts.

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Portfolio Holdings LEVOX

  • Current Portfolio Date
  • Equity Holdings
  • Bond Holdings
  • Other Holdings
  • % Assets in Top 10 Holdings 64.1
Top 10 Holdings
% Portfolio Weight
Market Value USD

Laboratory Corp of America Holdings

11.73 24.0 Mil

Alphabet Inc Class A

9.55 19.5 Mil
Communication Services

S&P Global Inc

8.91 18.2 Mil
Financial Services

Analog Devices Inc

5.47 11.2 Mil

Crown Castle Inc

5.22 10.7 Mil
Real Estate

Public Storage

4.97 10.2 Mil
Real Estate

Visa Inc Class A

4.63 9.5 Mil
Financial Services

McDonald's Corp

4.63 9.5 Mil
Consumer Cyclical

Otis Worldwide Corp Ordinary Shares

4.56 9.3 Mil

Fidelity National Information Services Inc

4.46 9.1 Mil