Lazard Global Listed Infrastructure Portfolio
LAZARD FUNDS INC · Series S000027245 · 3 share classes
data updated 2026-09-08
Fund profile
As filed in the prospectus · 2026 Q2
The Portfolio seeks total return.
The fund invests at least 80% of assets in equity securities of infrastructure companies—those deriving at least 50% of revenues or assets from energy production and distribution, water treatment, communications, or ownership and operation of physical infrastructure assets such as pipelines, toll roads, airports, and ports. The manager screens for companies with minimum market capitalization of $250 million that it believes are undervalued, and allocates at least 30% to 40% of the portfolio to infrastructure companies organized, located, or doing substantial business outside the U.S. across at least three countries. Because the fund concentrates its investments in infrastructure industries and may hold a smaller number of issuers than more diversified portfolios, performance depends on the selection and weightings of those holdings.
| Share class | Expense ratio |
|---|---|
| GLIFX | 0.96% |
| GLFOX | 1.21% |
| RLGLX | 0.96% |
Portfolio turnover 43.00% · as of 2026 Q2
Allocation
Asset groups · long / short shown separately, never netted · 2026 Q2
| Stocks | 89.60% |
| Cash & short-term | 9.16% |
| Derivatives | 0.96% |
Derivatives are shown at market value, not notional exposure.
Latest quarter
What changed since the fund's previous filing
Largest new: Standard Chartered Bank ×2, HSBC Bank USA NA
Largest exited: CSX, Royal Bank of Canada ×2, Citibank NA, Standard Chartered Bank
Return profile
Total return as filed — price change plus distributions reinvested · trailing figures to Apr 2026
| Share class | 1-year | 3-year | 5-year | Vol | Worst fall |
|---|---|---|---|---|---|
| +23.56% | +51.83% | +80.56% | 12.79% | -7.27% | |
| +23.16% | +50.70% | +78.35% | 12.76% | -7.31% |
These classes hold the same portfolio, so the 2.21pp spread over 5 years is the cost difference between them — roughly 0.44pp a year — not a difference in what they own.
May 2026 and Jun 2026 have been filed since the trailing figures were struck, so they are not in the table above or the curve — every figure here shares one cut-off, which is what makes them comparable with other funds.
Holdings
By % of NAV · equity positions carry filed share counts · every resolvable issuer links to its company page
| Ticker | Issuer | %NAV | Reported price | Value | Shares |
|---|---|---|---|---|---|
| — | LAZARD GOVT MNY MMKT INS | 9.16% | — | $1.14B | — |
| — | National Grid PLC | 8.10% | $16.56 | $1.01B | 60.8M |
| — | Vinci SA | 7.97% | $146.26 | $991.01M | 6.8M |
| — | Snam SpA | 6.92% | $7.20 | $861.19M | 119.6M |
| — | Terna - Rete Elettrica Nazionale | 4.79% | $11.70 | $595.74M | 50.9M |
| ED | Consolidated Edison IncED | 4.75% | $110.63 | $590.31M | 5.3M |
| EXC | Exelon CorpEXC | 4.66% | $46.62 | $580.25M | 12.4M |
| — | Ferrovial NV | 4.55% | $68.60 | $565.64M | 8.2M |
| AMT | American Tower CorpAMT | 4.50% | $163.57 | $560.49M | 3.4M |
| CCI | Crown Castle IncCCI | 4.36% | $75.73 | $542.59M | 7.2M |
Reported price is the fund's own reported value divided by its own reported shares at 2026-06-30 — not a live quote, and not what the fund paid.
Top 10 positions are 59.76% of net assets, top 25 97.37%, across 32 issuers.
See more of this fund's book
More positions with filed share counts, and the quarter-over-quarter change list rather than the largest few — free with an account, no card required.
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