# EDGAR Filing Document

**Accession Number:** 0000874964
**File Stem:** 0001752724-23-046508
**Filing Date:** 2023-2
**Character Count:** 25187
**Document Hash:** 3f58abe2c90ff079c32b2e2f798a4a78
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001752724-23-046508.hdr.sgml**: 20230228

**ACCESSION NUMBER**: 0001752724-23-046508

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20221231

**FILED AS OF DATE**: 20230228

**DATE AS OF CHANGE**: 20230228

**PERIOD START**: 20221231

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** LAZARD FUNDS INC
- **CENTRAL INDEX KEY:** 0000874964
- **IRS NUMBER:** 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:** 23682552

**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:** 2022-12-31

- **b. Date as of which information is reported:** 2022-12-31

**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:** $97567291.19

**Total Liabilities:** $126787.81

**Net Assets:** $97440503.38

**Cash Not Reported:** $4748.08

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000069022 | -3.90%               | 16.99%               | -1.67%               |
| Class ID C000069023 | -3.84%               | 16.93%               | -1.68%               |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $-1118547.43             | $-2212314.58                               |
| Month 2  | $-2926632.15             | $17864441.14                               |
| Month 3  | $-1136801.17             | $-703183.45                                |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| 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        |    263500 | NS      | $1739150.50   | 1.78%             |  |  |  | No            |                  2 | On Loan: No      |
| Xiaomi Corp                                           | Xiaomi Corp                                           | CUSIP: 000000000<br>LEI: 2549001ACVFAZRNMKL32 | Long             | EC               | CORP              | KY        |    493000 | NS      | $686132.68    | 0.70%             |  |  |  | No            |                  2 | On Loan: No      |
| Wuliangye Yibin Co Ltd                                | Wuliangye Yibin Co Ltd                                | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | CN        |     82600 | NS      | $2138726.71   | 2.19%             |  |  |  | No            |                  2 | On Loan: No      |
| Richter Gedeon Nyrt                                   | Richter Gedeon Nyrt                                   | CUSIP: 000000000<br>LEI: 549300J6ZJW5IH4WEE46 | Long             | EC               | CORP              | HU        |     92852 | NS      | $2062876.49   | 2.12%             |  |  |  | No            |                  2 | On Loan: No      |
| BDO Unibank Inc                                       | BDO Unibank Inc                                       | CUSIP: 000000000<br>LEI: 3FGIIBS1PEI1FYQBGN97 | Long             | EC               | CORP              | PH        |    846842 | NS      | $1598663.35   | 1.64%             |  |  |  | No            |                  2 | On Loan: No      |
| JS Global Lifestyle Co Ltd                            | JS Global Lifestyle Co Ltd                            | CUSIP: 000000000<br>LEI: 254900YP54EOBADL7333 | Long             | EC               | CORP              | KY        |   1182500 | NS      | $1328947.63   | 1.36%             |  |  |  | No            |                  2 | On Loan: No      |
| Pagseguro Digital Ltd                                 | Pagseguro Digital Ltd                                 | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | KY        |     69524 | NS      | $607639.76    | 0.62%             |  |  |  | No            |                  1 | On Loan: No      |
| China Tourism Group Duty Free Corp Ltd                | China Tourism Group Duty Free Corp Ltd                | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | CN        |     93900 | NS      | $2919793.74   | 3.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Samsung Electronics Co Ltd                            | Samsung Electronics Co Ltd                            | CUSIP: 000000000<br>LEI: 9884007ER46L6N7EI764 | Long             | EC               | CORP              | KR        |    124811 | NS      | $5503926.38   | 5.65%             |  |  |  | No            |                  2 | On Loan: No      |
| Foschini Group Ltd/The                                | Foschini Group Ltd/The                                | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | ZA        |    115883 | NS      | $691140.06    | 0.71%             |  |  |  | No            |                  2 | On Loan: No      |
| Yadea Group Holdings Ltd                              | Yadea Group Holdings Ltd                              | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | KY        |    848000 | NS      | $1412394.96   | 1.45%             |  |  |  | No            |                  2 | On Loan: No      |
| Reliance Industries Ltd                               | Reliance Industries Ltd                               | CUSIP: 000000000<br>LEI: 5493003UOETFYRONLG31 | Long             | EC               | CORP              | IN        |     71137 | NS      | $2182208.08   | 2.24%             |  |  |  | No            |                  2 | On Loan: No      |
| ZTO Express Cayman Inc                                | ZTO Express Cayman Inc                                | CUSIP: 98980A105<br>LEI: 549300SCJPK3YZJTJR78 | Long             | EC               | CORP              | KY        |     83594 | NS      | $2246170.78   | 2.31%             |  |  |  | No            |                  1 | On Loan: No      |
| Lotes Co Ltd                                          | Lotes Co Ltd                                          | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | TW        |     63000 | NS      | $1691785.68   | 1.74%             |  |  |  | No            |                  2 | On Loan: No      |
| ASE Technology Holding Co Ltd                         | ASE Technology Holding Co Ltd                         | CUSIP: 000000000<br>LEI: 300300GO8QHPMV87NZ73 | Long             | EC               | CORP              | TW        |    417289 | NS      | $1273713.16   | 1.31%             |  |  |  | No            |                  2 | On Loan: No      |
| Alibaba Group Holding Ltd                             | Alibaba Group Holding Ltd                             | CUSIP: 01609W102<br>LEI: 5493001NTNQJDH60PM02 | Long             | EC               | CORP              | KY        |     38127 | NS      | $3358607.43   | 3.45%             |  |  |  | No            |                  1 | On Loan: No      |
| MediaTek Inc                                          | MediaTek Inc                                          | CUSIP: 000000000<br>LEI: 254900UEGBK1I4DM4E14 | Long             | EC               | CORP              | TW        |     62000 | NS      | $1259348.84   | 1.29%             |  |  |  | No            |                  2 | On Loan: No      |
| Shanghai Liangxin Electrical Co Ltd                   | Shanghai Liangxin Electrical Co Ltd                   | CUSIP: 000000000<br>LEI: 300300X2WC3DY43W0V29 | Long             | EC               | CORP              | CN        |    812392 | NS      | $1712677.11   | 1.76%             |  |  |  | No            |                  2 | On Loan: No      |
| State Street Global Advisors                          | State Street Institutional Treasury Money Market Fund | CUSIP: 857492870<br>LEI: 549300Q3FHSMZ70NLT76 | Long             | STIV             | RF                | US        |    731270 | NS      | $731270.37    | 0.75%             |  |  |  | No            |                  1 | On Loan: No      |
| Bank Rakyat Indonesia Persero Tbk PT                  | Bank Rakyat Indonesia Persero Tbk PT                  | CUSIP: 000000000<br>LEI: 254900HB6S4B12GBNP64 | Long             | EC               | CORP              | ID        |   7073549 | NS      | $2242393.36   | 2.30%             |  |  |  | No            |                  2 | On Loan: No      |
| Sercomm Corp                                          | Sercomm Corp                                          | CUSIP: 000000000<br>LEI: 254900MJ2QQG3VODNZ25 | Long             | EC               | CORP              | TW        |    324000 | NS      | $805744.38    | 0.83%             |  |  |  | No            |                  2 | On Loan: No      |
| Bank Central Asia Tbk PT                              | Bank Central Asia Tbk PT                              | CUSIP: 000000000<br>LEI: 254900BR956G2OHVOM21 | Long             | EC               | CORP              | ID        |   3218400 | NS      | $1764488.16   | 1.81%             |  |  |  | No            |                  2 | On Loan: No      |
| Weibo Corp                                            | Weibo Corp                                            | CUSIP: 948596101<br>LEI: 549300Q9ID4640FE0422 | Long             | EC               | CORP              | KY        |     38883 | NS      | $743442.96    | 0.76%             |  |  |  | No            |                  1 | On Loan: No      |
| Chroma ATE Inc                                        | Chroma ATE Inc                                        | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | TW        |    251000 | NS      | $1476598.04   | 1.52%             |  |  |  | No            |                  2 | On Loan: No      |
| Techtronic Industries Co Ltd                          | Techtronic Industries Co Ltd                          | CUSIP: 000000000<br>LEI: 549300HZW2SBE758OK89 | Long             | EC               | CORP              | HK        |     93502 | NS      | $1041145.90   | 1.07%             |  |  |  | No            |                  2 | On Loan: No      |
| Silicon Motion Technology Corp                        | Silicon Motion Technology Corp                        | CUSIP: 82706C108<br>LEI: 5299005RBVBZQJTYFC89 | Long             | EC               | CORP              | KY        |     17718 | NS      | $1151492.82   | 1.18%             |  |  |  | No            |                  1 | On Loan: No      |
| Topsports International Holdings Ltd                  | Topsports International Holdings Ltd                  | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | KY        |   1005000 | NS      | $788580.42    | 0.81%             |  |  |  | No            |                  2 | On Loan: No      |
| Baidu Inc                                             | Baidu Inc                                             | CUSIP: 000000000<br>LEI: 254900AL64IANZYI1E02 | Long             | EC               | CORP              | KY        |     66700 | NS      | $958700.62    | 0.98%             |  |  |  | No            |                  2 | On Loan: No      |
| Zhongsheng Group Holdings Ltd                         | Zhongsheng Group Holdings Ltd                         | CUSIP: 000000000<br>LEI: 3003005VYMEBAJNJ2Y26 | Long             | EC               | CORP              | KY        |    348500 | NS      | $1776378.68   | 1.82%             |  |  |  | No            |                  2 | On Loan: No      |
| Hiwin Technologies Corp                               | Hiwin Technologies Corp                               | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | TW        |    118714 | NS      | $704334.06    | 0.72%             |  |  |  | No            |                  2 | On Loan: No      |
| Vamos Locacao de Caminhoes Maquinas e Equipamentos SA | Vamos Locacao de Caminhoes Maquinas e Equipamentos SA | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | BR        |    293800 | NS      | $702874.66    | 0.72%             |  |  |  | No            |                  2 | On Loan: No      |
| Grupo Financiero Banorte SAB de CV                    | Grupo Financiero Banorte SAB de CV                    | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | MX        |    366757 | NS      | $2633257.48   | 2.70%             |  |  |  | No            |                  1 | On Loan: No      |
| Bajaj Finance Ltd                                     | Bajaj Finance Ltd                                     | CUSIP: 000000000<br>LEI: 335800YTEXC3DO4Z6F68 | Long             | EC               | CORP              | IN        |     17055 | NS      | $1349851.29   | 1.39%             |  |  |  | No            |                  2 | On Loan: No      |
| Autohome Inc                                          | Autohome Inc                                          | CUSIP: 05278C107<br>LEI: 529900NYB6ZGZN3MVT56 | Long             | EC               | CORP              | KY        |     37231 | NS      | $1139268.60   | 1.17%             |  |  |  | No            |                  1 | On Loan: No      |
| Dexco SA                                              | Dexco SA                                              | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | BR        |    476408 | NS      | $610414.65    | 0.63%             |  |  |  | No            |                  2 | On Loan: No      |
| JD.com Inc                                            | JD.com Inc                                            | CUSIP: 000000000<br>LEI: 549300HVTWB0GJZ16V92 | Long             | EC               | CORP              | KY        |     79909 | NS      | $2246269.49   | 2.31%             |  |  |  | No            |                  2 | On Loan: No      |
| Minth Group Ltd                                       | Minth Group Ltd                                       | CUSIP: 000000000<br>LEI: 254900B2AH0G13K9G204 | Long             | EC               | CORP              | KY        |    656000 | NS      | $1767905.48   | 1.81%             |  |  |  | No            |                  2 | On Loan: No      |
| Chow Tai Seng Jewellery Co Ltd                        | Chow Tai Seng Jewellery Co Ltd                        | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | CN        |    529250 | NS      | $1068501.52   | 1.10%             |  |  |  | No            |                  2 | On Loan: No      |
| Trip.com Group Ltd                                    | Trip.com Group Ltd                                    | CUSIP: 89677Q107<br>LEI: 2549004RMYDSRQL4KW41 | Long             | EC               | CORP              | KY        |     56317 | NS      | $1937304.80   | 1.99%             |  |  |  | No            |                  1 | On Loan: No      |
| Mphasis Ltd                                           | Mphasis Ltd                                           | CUSIP: 000000000<br>LEI: 335800NSYTIQLQKUYP62 | Long             | EC               | CORP              | IN        |     23096 | NS      | $550926.95    | 0.57%             |  |  |  | No            |                  2 | On Loan: No      |
| Capitec Bank Holdings Ltd                             | Capitec Bank Holdings Ltd                             | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | ZA        |      5917 | NS      | $647231.29    | 0.66%             |  |  |  | No            |                  2 | On Loan: No      |
| UPL Ltd                                               | UPL Ltd                                               | CUSIP: 000000000<br>LEI: 335800RJSM1SLHO4UA95 | Long             | EC               | CORP              | IN        |    205069 | NS      | $1775456.48   | 1.82%             |  |  |  | No            |                  2 | On Loan: No      |
| Jiangsu King's Luck Brewery JSC Ltd                   | Jiangsu King's Luck Brewery JSC Ltd                   | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | CN        |    123800 | NS      | $906119.30    | 0.93%             |  |  |  | No            |                  2 | On Loan: No      |
| RichWave Technology Corp                              | RichWave Technology Corp                              | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | TW        |    177000 | NS      | $647096.16    | 0.66%             |  |  |  | No            |                  2 | On Loan: No      |
| SK Hynix Inc                                          | SK Hynix Inc                                          | CUSIP: 000000000<br>LEI: 988400XAIK6XISWQV045 | Long             | EC               | CORP              | KR        |     37688 | NS      | $2268511.36   | 2.33%             |  |  |  | No            |                  2 | On Loan: No      |
| CJ Logistics Corp                                     | CJ Logistics Corp                                     | CUSIP: 000000000<br>LEI: 988400MIXJ2YDYLYR916 | Long             | EC               | CORP              | KR        |      7943 | NS      | $592008.23    | 0.61%             |  |  |  | No            |                  2 | On Loan: No      |
| Taiwan Semiconductor Manufacturing Co Ltd             | Taiwan Semiconductor Manufacturing Co Ltd             | CUSIP: 000000000<br>LEI: 549300KB6NK5SBD14S87 | Long             | EC               | CORP              | TW        |    276000 | NS      | $4022602.99   | 4.13%             |  |  |  | No            |                  2 | On Loan: No      |
| Rumo SA                                               | Rumo SA                                               | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | BR        |    305444 | NS      | $1075633.80   | 1.10%             |  |  |  | No            |                  2 | On Loan: No      |
| Credicorp Ltd                                         | Credicorp Ltd                                         | CUSIP: 000000000<br>LEI: 529900UYAEYQCQ2BKB17 | Long             | EC               | CORP              | BM        |      4961 | NS      | $673009.26    | 0.69%             |  |  |  | No            |                  1 | On Loan: No      |
| ICICI Bank Ltd                                        | ICICI Bank Ltd                                        | CUSIP: 45104G104<br>LEI: R7RX8ER1V4666J8D1I38 | Long             | EC               | CORP              | IN        |    143870 | NS      | $3149314.30   | 3.23%             |  |  |  | No            |                  1 | On Loan: No      |
| Airtac International Group                            | Airtac International Group                            | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | KY        |     27765 | NS      | $840367.98    | 0.86%             |  |  |  | No            |                  2 | On Loan: No      |
| InPost SA                                             | InPost SA                                             | CUSIP: 000000000<br>LEI: 2221003M23QLERR89585 | Long             | EC               | CORP              | LU        |    197279 | NS      | $1667345.62   | 1.71%             |  |  |  | No            |                  2 | On Loan: No      |
| Bizlink Holding Inc                                   | Bizlink Holding Inc                                   | CUSIP: 000000000<br>LEI: 213800YAKRFVU5XOX138 | Long             | EC               | CORP              | KY        |    165000 | NS      | $1268711.49   | 1.30%             |  |  |  | No            |                  2 | On Loan: No      |
| Tencent Holdings Ltd                                  | Tencent Holdings Ltd                                  | CUSIP: 000000000<br>LEI: 254900N4SLUMW4XUYY11 | Long             | EC               | CORP              | KY        |    124800 | NS      | $5304275.25   | 5.44%             |  |  |  | No            |                  2 | On Loan: No      |
| International Container Terminal Services Inc         | International Container Terminal Services Inc         | CUSIP: 000000000<br>LEI: 254900FU1MWK0I0Q4J61 | Long             | EC               | CORP              | PH        |    270829 | NS      | $974744.32    | 1.00%             |  |  |  | No            |                  2 | On Loan: No      |
| HDFC Bank Ltd                                         | HDFC Bank Ltd                                         | CUSIP: 40415F101<br>LEI: 335800ZQ6I4E2JXENC50 | Long             | EC               | CORP              | IN        |     47513 | NS      | $3250364.33   | 3.34%             |  |  |  | No            |                  1 | On Loan: No      |
| Standard Bank Group Ltd                               | Standard Bank Group Ltd                               | CUSIP: 000000000<br>LEI: 2549003PEZXUT7MDBU41 | Long             | EC               | CORP              | ZA        |    160094 | NS      | $1581074.30   | 1.62%             |  |  |  | No            |                  2 | On Loan: No      |
| Petro Rio SA                                          | Petro Rio SA                                          | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | BR        |    153400 | NS      | $1085891.86   | 1.11%             |  |  |  | No            |                  2 | On Loan: No      |
| Bancolombia SA                                        | Bancolombia SA                                        | CUSIP: 05968L102<br>LEI: 54930052NWJRPNMP1W58 | Long             | EC               | CORP              | CO        |     21122 | NS      | $602821.88    | 0.62%             |  |  |  | No            |                  1 | On Loan: No      |
| First Quantum Minerals Ltd                            | First Quantum Minerals Ltd                            | CUSIP: 335934105<br>LEI: 549300I7UVBGWRYMYZ18 | Long             | EC               | CORP              | CA        |     59163 | NS      | $1236130.92   | 1.27%             |  |  |  | No            |                  1 | On Loan: No      |

### Signature

**Date Signed:** 2023-01-20

**Name of Applicant:** LAZARD FUNDS INC

**Signature:** Christopher Snively

**Name of Signer:** Christopher Snively

**Title:** Chief Financial Officer and Treasurer