# EDGAR Filing Document

**Accession Number:** 0000874964
**File Stem:** 0001410368-26-021524
**Filing Date:** 2026-3
**Character Count:** 25142
**Document Hash:** 299284d8113dee8cdaaaaf18b164e853
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001410368-26-021524.hdr.sgml**: 20260302

**ACCESSION NUMBER**: 0001410368-26-021524

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20251231

**FILED AS OF DATE**: 20260302

**DATE AS OF CHANGE**: 20260302

**PERIOD START**: 20251231

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** LAZARD FUNDS INC
- **CENTRAL INDEX KEY:** 0000874964

**ORGANIZATION NAME:**
- **EIN:** 000000000
- **STATE OF INCORPORATION:** MD
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-06312
- **FILM NUMBER:** 26706156

**BUSINESS ADDRESS:**
- **STREET 1:** 30 ROCKEFELLER PLAZA
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10112
- **BUSINESS PHONE:** 2126326000

**MAIL ADDRESS:**
- **STREET 1:** 30 ROCKEFELLER PLAZA
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10112

## Series and Classes Contracts Data

### Lazard Developing Markets Equity Portfolio (Series ID: S000023480)

| Class ID   | Class Name           | Ticker Symbol   |
|:---|:---|:---|
| C000069022 | Institutional Shares | LDMIX           |
| C000069023 | Open Shares          | LDMOX           |

## Form NPORT-P: Monthly Portfolio Investments Report

### NPORT-P: Part A: General Information

**Item A.1. Information about the Registrant.**

- **a. Name of Registrant:** LAZARD FUNDS INC

- **b. Investment Company Act file number:** 811-06312

- **c. CIK number of Registrant:** 0000874964

- **d. LEI of Registrant:** FHQ86OSTXPK3IHDU6X52

- **e. Address and telephone number of Registrant.**

  - **Street Address 1:** 30 ROCKEFELLER PLAZA

  - **City:** NEW YORK

  - **State:** NY

  - **Foreign country:** US

  - **Zip / Postal Code:** 10112

  - **Telephone number:** 212-632-6000

**Item A.2. Information about the Series.**

- **a. Name of Series:** Lazard Developing Markets Equity Portfolio

- **b. EDGAR series identifier (if any):** S000023480

- **c. LEI of Series:** 5493004QOFW24EYJKM98

**Item A.3. Reporting period.**

- **a. Date of fiscal year-end:** 2025-12-31

- **b. Date as of which information is reported:** 2025-12-31

**Item A.4. Final filing**

Does the Fund anticipate that this will be its final filing on Form N-PORT? **No**

### Fund Information

**Total Assets:** $103821212.97

**Total Liabilities:** $290542.19

**Net Assets:** $103530670.78

**Cash Not Reported:** $7799.32

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000069022 | 4.19%                | -2.85%               | 2.95%                |
| Class ID C000069023 | 4.22%                | -2.87%               | 2.89%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $969698.38               | $3336000.16                                |
| Month 2  | $77679.75                | $-2965331.37                               |
| Month 3  | $-533.26                 | $2695145.20                                |

### Schedule of Portfolio Investments

| Name                                            | Title                                           | Identifiers                                   | Payoff Profile   | Asset Category   | Issuer Category   | Country   |   Balance | Units   | Value (USD)   | % of Net Assets   | Maturity Date   | Coupon Type   | Annualized Rate (%)   | Restricted?   |   Fair Value Level | Lending Status   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| Grupo Financiero Banorte SAB de CV              | Grupo Financiero Banorte SAB de CV              | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | MX        |    183257 | NS      | $1698898.99   | 1.64%             |  |  |  | No            |                  1 | On Loan: No      |
| EPAM Systems Inc                                | EPAM Systems Inc                                | CUSIP: 29414B104<br>LEI: 549300XCR4R530HJP604 | Long             | EC               | CORP              | US        |      3480 | NS      | $712982.40    | 0.69%             |  |  |  | No            |                  1 | On Loan: No      |
| HDFC Bank Ltd                                   | HDFC Bank Ltd                                   | CUSIP: 40415F101<br>LEI: 335800ZQ6I4E2JXENC50 | Long             | EC               | CORP              | IN        |     76156 | NS      | $2782740.24   | 2.69%             |  |  |  | No            |                  1 | On Loan: No      |
| ICICI Bank Ltd                                  | ICICI Bank Ltd                                  | CUSIP: 45104G104<br>LEI: R7RX8ER1V4666J8D1I38 | Long             | EC               | CORP              | IN        |     65849 | NS      | $1962300.20   | 1.90%             |  |  |  | No            |                  1 | On Loan: No      |
| MercadoLibre Inc                                | MercadoLibre Inc                                | CUSIP: 58733R102<br>LEI: 549300DKPDN9M5S8GB14 | Long             | EC               | CORP              | US        |       403 | NS      | $811746.78    | 0.78%             |  |  |  | No            |                  1 | On Loan: No      |
| Reliance Industries Ltd                         | Reliance Industries Ltd                         | CUSIP: 000000000<br>LEI: 5493003UOETFYRONLG31 | Long             | EC               | CORP              | IN        |     73293 | NS      | $1279297.61   | 1.24%             |  |  |  | No            |                  2 | On Loan: No      |
| Mphasis Ltd                                     | Mphasis Ltd                                     | CUSIP: 000000000<br>LEI: 335800NSYTIQLQKUYP62 | Long             | EC               | CORP              | IN        |     30840 | NS      | $960559.88    | 0.93%             |  |  |  | No            |                  2 | On Loan: No      |
| Sercomm Corp                                    | Sercomm Corp                                    | CUSIP: 000000000<br>LEI: 254900MJ2QQG3VODNZ25 | Long             | EC               | CORP              | TW        |    223000 | NS      | $563291.37    | 0.54%             |  |  |  | No            |                  2 | On Loan: No      |
| Lenovo Group Ltd                                | Lenovo Group Ltd                                | CUSIP: 000000000<br>LEI: 254900VUZRGD5U73RE46 | Long             | EC               | CORP              | HK        |   1306000 | NS      | $1548588.41   | 1.50%             |  |  |  | No            |                  2 | On Loan: No      |
| King Yuan Electronics Co Ltd                    | King Yuan Electronics Co Ltd                    | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | TW        |    187000 | NS      | $1472973.83   | 1.42%             |  |  |  | No            |                  2 | On Loan: No      |
| MediaTek Inc                                    | MediaTek Inc                                    | CUSIP: 000000000<br>LEI: 254900UEGBK1I4DM4E14 | Long             | EC               | CORP              | TW        |     36000 | NS      | $1631216.64   | 1.58%             |  |  |  | No            |                  2 | On Loan: No      |
| Capitec Bank Holdings Ltd                       | Capitec Bank Holdings Ltd                       | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | ZA        |      8327 | NS      | $2091061.50   | 2.02%             |  |  |  | No            |                  2 | On Loan: No      |
| Bharti Airtel Ltd                               | Bharti Airtel Ltd                               | CUSIP: 000000000<br>LEI: 335800KQ1FPKOQ84OR26 | Long             | EC               | CORP              | IN        |     50915 | NS      | $1194420.73   | 1.15%             |  |  |  | No            |                  2 | On Loan: No      |
| SK hynix Inc                                    | SK hynix Inc                                    | CUSIP: 000000000<br>LEI: 988400XAIK6XISWQV045 | Long             | EC               | CORP              | KR        |      8302 | NS      | $3759356.44   | 3.63%             |  |  |  | No            |                  2 | On Loan: No      |
| International Container Terminal Services Inc   | International Container Terminal Services Inc   | CUSIP: 000000000<br>LEI: 254900FU1MWK0I0Q4J61 | Long             | EC               | CORP              | PH        |    119229 | NS      | $1143197.89   | 1.10%             |  |  |  | No            |                  2 | On Loan: No      |
| BYD Co Ltd                                      | BYD Co Ltd                                      | CUSIP: 000000000<br>LEI: 5299005557VL7ULJ7A69 | Long             | EC               | CORP              | CN        |     48300 | NS      | $588147.62    | 0.57%             |  |  |  | No            |                  2 | On Loan: No      |
| Bank Rakyat Indonesia Persero Tbk PT            | Bank Rakyat Indonesia Persero Tbk PT            | CUSIP: 000000000<br>LEI: 254900HB6S4B12GBNP64 | Long             | EC               | CORP              | ID        |   7494149 | NS      | $1644715.03   | 1.59%             |  |  |  | No            |                  2 | On Loan: No      |
| Samsung Electronics Co Ltd                      | Samsung Electronics Co Ltd                      | CUSIP: 000000000<br>LEI: 9884007ER46L6N7EI764 | Long             | EC               | CORP              | KR        |     88852 | NS      | $7405307.36   | 7.15%             |  |  |  | No            |                  2 | On Loan: No      |
| Hanwha Aerospace Co Ltd                         | Hanwha Aerospace Co Ltd                         | CUSIP: 000000000<br>LEI: 9884001NSUA8FQKQWR25 | Long             | EC               | CORP              | KR        |      1125 | NS      | $731932.39    | 0.71%             |  |  |  | No            |                  2 | On Loan: No      |
| Taiwan Semiconductor Manufacturing Co Ltd       | Taiwan Semiconductor Manufacturing Co Ltd       | CUSIP: 000000000<br>LEI: 549300KB6NK5SBD14S87 | Long             | EC               | CORP              | TW        |    284000 | NS      | $13874359.23  | 13.40%            |  |  |  | No            |                  2 | On Loan: No      |
| Public Power Corp SA                            | Public Power Corp SA                            | CUSIP: 000000000<br>LEI: 213800T9Y5XCOVRZ4Y57 | Long             | EC               | CORP              | GR        |     39969 | NS      | $854663.65    | 0.83%             |  |  |  | No            |                  2 | On Loan: No      |
| Sea Ltd                                         | Sea Ltd                                         | CUSIP: 81141R100<br>LEI: 529900OM6JLLW44YKI15 | Long             | EC               | CORP              | KY        |      5848 | NS      | $746029.36    | 0.72%             |  |  |  | No            |                  1 | On Loan: No      |
| LAZARD GOVT MNY MMKT INS                        | LAZARD GOVT MNY MMKT INS                        | CUSIP: 000000000<br>LEI: N/A                  | Long             | STIV             | RF                | US        |    561282 | NS      | $561282.27    | 0.54%             |  |  |  | No            |                  1 | On Loan: No      |
| Amber Enterprises India Ltd                     | Amber Enterprises India Ltd                     | CUSIP: 000000000<br>LEI: 3358009JZU4XT3666G06 | Long             | EC               | CORP              | IN        |      8291 | NS      | $589308.46    | 0.57%             |  |  |  | No            |                  2 | On Loan: No      |
| ASE Technology Holding Co Ltd                   | ASE Technology Holding Co Ltd                   | CUSIP: 000000000<br>LEI: 300300GO8QHPMV87NZ73 | Long             | EC               | CORP              | TW        |    305289 | NS      | $2420192.31   | 2.34%             |  |  |  | No            |                  2 | On Loan: No      |
| Bank Central Asia Tbk PT                        | Bank Central Asia Tbk PT                        | CUSIP: 000000000<br>LEI: 254900BR956G2OHVOM21 | Long             | EC               | CORP              | ID        |   2535100 | NS      | $1223684.21   | 1.18%             |  |  |  | No            |                  2 | On Loan: No      |
| Ping An Insurance Group Co of China Ltd         | Ping An Insurance Group Co of China Ltd         | CUSIP: 000000000<br>LEI: 529900M9MC28JLN35U89 | Long             | EC               | CORP              | CN        |    186500 | NS      | $1568808.08   | 1.52%             |  |  |  | No            |                  2 | On Loan: No      |
| Standard Bank Group Ltd                         | Standard Bank Group Ltd                         | CUSIP: 000000000<br>LEI: 2549003PEZXUT7MDBU41 | Long             | EC               | CORP              | ZA        |    117860 | NS      | $2071088.27   | 2.00%             |  |  |  | No            |                  2 | On Loan: No      |
| BIM Birlesik Magazalar AS                       | BIM Birlesik Magazalar AS                       | CUSIP: 000000000<br>LEI: 7890001GCDJQD8DJKE29 | Long             | EC               | CORP              | TR        |     72392 | NS      | $906538.16    | 0.88%             |  |  |  | No            |                  2 | On Loan: No      |
| UPL Ltd                                         | UPL Ltd                                         | CUSIP: 000000000<br>LEI: 335800RJSM1SLHO4UA95 | Long             | EC               | CORP              | IN        |    136516 | NS      | $1207903.89   | 1.17%             |  |  |  | No            |                  2 | On Loan: No      |
| Minth Group Ltd                                 | Minth Group Ltd                                 | CUSIP: 000000000<br>LEI: 254900B2AH0G13K9G204 | Long             | EC               | CORP              | KY        |    376000 | NS      | $1526343.37   | 1.47%             |  |  |  | No            |                  2 | On Loan: No      |
| Grupo Aeroportuario del Pacifico SAB de CV      | Grupo Aeroportuario del Pacifico SAB de CV      | CUSIP: 000000000<br>LEI: 4469000001BZ368XFI90 | Long             | EC               | CORP              | MX        |     37035 | NS      | $972915.57    | 0.94%             |  |  |  | No            |                  1 | On Loan: No      |
| TOTVS SA                                        | TOTVS SA                                        | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | BR        |    244200 | NS      | $1860565.58   | 1.80%             |  |  |  | No            |                  2 | On Loan: No      |
| Lotes Co Ltd                                    | Lotes Co Ltd                                    | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | TW        |     23687 | NS      | $971408.81    | 0.94%             |  |  |  | No            |                  2 | On Loan: No      |
| Jeronimo Martins SGPS SA                        | Jeronimo Martins SGPS SA                        | CUSIP: 000000000<br>LEI: 259400A8SZP10GB5IB19 | Long             | EC               | CORP              | PT        |     35703 | NS      | $850458.36    | 0.82%             |  |  |  | No            |                  2 | On Loan: No      |
| RichWave Technology Corp                        | RichWave Technology Corp                        | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | TW        |    174000 | NS      | $692834.13    | 0.67%             |  |  |  | No            |                  2 | On Loan: No      |
| Benefit Systems SA                              | Benefit Systems SA                              | CUSIP: 000000000<br>LEI: 2594007UY43JEUOLID52 | Long             | EC               | CORP              | PL        |      1077 | NS      | $1052752.55   | 1.02%             |  |  |  | No            |                  2 | On Loan: No      |
| Bizlink Holding Inc                             | Bizlink Holding Inc                             | CUSIP: 000000000<br>LEI: 213800YAKRFVU5XOX138 | Long             | EC               | CORP              | KY        |     30622 | NS      | $1461419.12   | 1.41%             |  |  |  | No            |                  2 | On Loan: No      |
| BDO Unibank Inc                                 | BDO Unibank Inc                                 | CUSIP: 000000000<br>LEI: 3FGIIBS1PEI1FYQBGN97 | Long             | EC               | CORP              | PH        |    467146 | NS      | $1065061.51   | 1.03%             |  |  |  | No            |                  2 | On Loan: No      |
| Sungrow Power Supply Co Ltd                     | Sungrow Power Supply Co Ltd                     | CUSIP: 000000000<br>LEI: 30030052IWC7RGVFG505 | Long             | EC               | CORP              | CN        |     61788 | NS      | $1505193.38   | 1.45%             |  |  |  | No            |                  2 | On Loan: No      |
| Shenzhen Inovance Technology Co Ltd             | Shenzhen Inovance Technology Co Ltd             | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | CN        |    105590 | NS      | $1135795.98   | 1.10%             |  |  |  | No            |                  2 | On Loan: No      |
| Xiaomi Corp                                     | Xiaomi Corp                                     | CUSIP: 000000000<br>LEI: 2549001ACVFAZRNMKL32 | Long             | EC               | CORP              | KY        |    290800 | NS      | $1467685.28   | 1.42%             |  |  |  | Yes           |                  2 | On Loan: No      |
| Foxconn Industrial Internet Co Ltd              | Foxconn Industrial Internet Co Ltd              | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | CN        |    155500 | NS      | $1371857.06   | 1.33%             |  |  |  | No            |                  2 | On Loan: No      |
| Shenzhen Mindray Bio-Medical Electronics Co Ltd | Shenzhen Mindray Bio-Medical Electronics Co Ltd | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | CN        |     20400 | NS      | $555979.67    | 0.54%             |  |  |  | No            |                  2 | On Loan: No      |
| Contemporary Amperex Technology Co Ltd          | Contemporary Amperex Technology Co Ltd          | CUSIP: 000000000<br>LEI: 300300KINDY1K0E9I032 | Long             | EC               | CORP              | CN        |     22900 | NS      | $1198866.32   | 1.16%             |  |  |  | No            |                  2 | On Loan: No      |
| Alibaba Group Holding Ltd                       | Alibaba Group Holding Ltd                       | CUSIP: 000000000<br>LEI: 5493001NTNQJDH60PM02 | Long             | EC               | CORP              | KY        |    226500 | NS      | $4145266.61   | 4.00%             |  |  |  | No            |                  2 | On Loan: No      |
| OmniVision Integrated Circuits Group Inc        | OmniVision Integrated Circuits Group Inc        | CUSIP: 000000000<br>LEI: 8368000MFHXX01GPND38 | Long             | EC               | CORP              | CN        |     65500 | NS      | $1177354.90   | 1.14%             |  |  |  | No            |                  2 | On Loan: No      |
| Orizon Valorizacao de Residuos SA               | Orizon Valorizacao de Residuos SA               | CUSIP: 000000000<br>LEI: 894500ACAMVLSLV62B28 | Long             | EC               | CORP              | BR        |     72700 | NS      | $924626.97    | 0.89%             |  |  |  | No            |                  2 | On Loan: No      |
| Silicon2 Co Ltd                                 | Silicon2 Co Ltd                                 | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | KR        |     25440 | NS      | $679408.70    | 0.66%             |  |  |  | No            |                  2 | On Loan: No      |
| Allegro.eu SA                                   | Allegro.eu SA                                   | CUSIP: 000000000<br>LEI: 222100VRLXV3FPMG4982 | Long             | EC               | CORP              | LU        |    112929 | NS      | $972947.38    | 0.94%             |  |  |  | Yes           |                  2 | On Loan: No      |
| Tencent Holdings Ltd                            | Tencent Holdings Ltd                            | CUSIP: 000000000<br>LEI: 254900N4SLUMW4XUYY11 | Long             | EC               | CORP              | KY        |     77700 | NS      | $5953936.30   | 5.75%             |  |  |  | No            |                  2 | On Loan: No      |
| InPost SA                                       | InPost SA                                       | CUSIP: 000000000<br>LEI: 2221003M23QLERR89585 | Long             | EC               | CORP              | LU        |     46320 | NS      | $567362.20    | 0.55%             |  |  |  | No            |                  2 | On Loan: No      |
| Rede D'Or Sao Luiz SA                           | Rede D'Or Sao Luiz SA                           | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | BR        |    201000 | NS      | $1488409.59   | 1.44%             |  |  |  | Yes           |                  2 | On Loan: No      |
| Trip.com Group Ltd                              | Trip.com Group Ltd                              | CUSIP: 000000000<br>LEI: 2549004RMYDSRQL4KW41 | Long             | EC               | CORP              | KY        |     16450 | NS      | $1180019.36   | 1.14%             |  |  |  | No            |                  2 | On Loan: No      |
| Bajaj Finance Ltd                               | Bajaj Finance Ltd                               | CUSIP: 000000000<br>LEI: 335800YTEXC3DO4Z6F68 | Long             | EC               | CORP              | IN        |    132118 | NS      | $1450648.64   | 1.40%             |  |  |  | No            |                  2 | On Loan: No      |
| Fuyao Glass Industry Group Co Ltd               | Fuyao Glass Industry Group Co Ltd               | CUSIP: 000000000<br>LEI: 549300AS5CSLWETN0P64 | Long             | EC               | CORP              | CN        |    123600 | NS      | $1065738.73   | 1.03%             |  |  |  | Yes           |                  2 | On Loan: No      |
| PRIO SA/Brazil                                  | PRIO SA/Brazil                                  | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | BR        |    153300 | NS      | $1153689.77   | 1.11%             |  |  |  | No            |                  2 | On Loan: No      |
| Yadea Group Holdings Ltd                        | Yadea Group Holdings Ltd                        | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | KY        |    604000 | NS      | $881300.24    | 0.85%             |  |  |  | Yes           |                  2 | On Loan: No      |
| Credicorp Ltd                                   | Credicorp Ltd                                   | CUSIP: 000000000<br>LEI: 529900UYAEYQCQ2BKB17 | Long             | EC               | CORP              | BM        |      4406 | NS      | $1264522.00   | 1.22%             |  |  |  | No            |                  1 | On Loan: No      |
| Pagseguro Digital Ltd                           | Pagseguro Digital Ltd                           | CUSIP: 000000000<br>LEI: 391200VY4YW47I4HGH62 | Long             | EC               | CORP              | KY        |    120295 | NS      | $1159643.80   | 1.12%             |  |  |  | No            |                  1 | On Loan: No      |
| SharkNinja Inc                                  | SharkNinja Inc                                  | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | KY        |     11321 | NS      | $1266819.90   | 1.22%             |  |  |  | No            |                  1 | On Loan: No      |
| MakeMyTrip Ltd                                  | MakeMyTrip Ltd                                  | CUSIP: 000000000<br>LEI: 529900DNT8HNJ7RYUO60 | Long             | EC               | CORP              | MU        |      9292 | NS      | $763059.04    | 0.74%             |  |  |  | No            |                  1 | On Loan: No      |

### Signature

**Date Signed:** 2026-01-16

**Name of Applicant:** LAZARD FUNDS INC

**Signature:** Christina Kennedy

**Name of Signer:** Christina Kennedy

**Title:** Chief Financial Officer