Lazard Funds NPORTP Lazard Global Dynamic Multi-Asset Portfolio (Mar 2024 report)

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

QUARTERLY SCHEDULE OF PORTFOLIO HOLDINGS OF REGISTERED MANAGEMENT

INVESTMENT COMPANIES

Investment Company Act file number 811-06312

The Lazard Funds, Inc.

(Exact name of Registrant as specified in charter)

30 Rockefeller Plaza

New York, New York 10112

(Address of principal executive offices) (Zip code)

Mark R. Anderson, Esq.

Lazard Asset Management LLC

30 Rockefeller Plaza

New York, New York 10112

(Name and address of agent for service)

Registrant’s telephone number, including area code: (212) 632-6000

Date of fiscal year end: 12/31

Date of reporting period: 3/31/2024

Item 1. Schedule of Investments.

Description	Shares		Fair Value
Lazard Developing Markets Equity Portfolio
Common Stocks \| 98.7%
Brazil \| 7.9%
Dexco SA		388,808	$	595,375
MercadoLibre, Inc. (*)		441		666,774
Pagseguro Digital Ltd., Class A (*)		144,390		2,061,889
PRIO SA		125,300		1,217,674
Rumo SA		129,644		575,403
TOTVS SA		301,000		1,703,230
Vamos Locacao de Caminhoes Maquinas e Equipamentos SA		258,252		429,957
				7,250,302
China \| 23.4%
Airtac International Group		23,765		824,319
Alibaba Group Holding Ltd.		181,400		1,637,101
Autohome, Inc. ADR		21,068		552,403
Baidu, Inc., Class A (*)		44,850		587,379
China Tourism Group Duty Free Corp. Ltd., Class A		77,100		922,566
Chow Tai Seng Jewellery Co. Ltd., Class A		431,950		1,102,279
Foxconn Industrial Internet Co. Ltd., Class A		270,500		880,731
JD.com, Inc., Class A		39,959		543,613
Jiangsu King’s Luck Brewery JSC Ltd., Class A		66,200		543,972
Nexteer Automotive Group Ltd.		880,000		414,031
Ping An Insurance Group Co. of China Ltd., Class H		214,500		912,499
Shanghai Liangxin Electrical Co. Ltd., Class A		461,692		484,253
Shenzhen Inovance Technology Co. Ltd., Class A		158,490		1,320,752
Sungrow Power Supply Co. Ltd., Class A		50,392		719,829
Tencent Holdings Ltd.		71,200		2,778,558
Topsports International Holdings Ltd.		802,000		537,029
Trip.com Group Ltd. ADR (*)		48,775		2,140,735
Weibo Corp. ADR		31,227		283,853
Wuliangye Yibin Co. Ltd., Class A		67,900		1,441,894
Xiaomi Corp., Class B (*)		401,800		833,028
Yadea Group Holdings Ltd.		760,000		1,232,739
ZTO Express Cayman, Inc. ADR		43,887		918,994
				21,612,557
Hong Kong \| 1.3%
Techtronic Industries Co. Ltd.		89,502		1,213,435
Hungary \| 2.4%
Richter Gedeon Nyrt.		88,840		2,253,653
India \| 11.5%
Bajaj Finance Ltd.		12,318		1,071,773

Description	Shares		Fair Value
HDFC Bank Ltd. ADR		38,797	$	2,171,468
ICICI Bank Ltd. ADR		117,475		3,102,515
Jio Financial Services Ltd. (*)		59,101		251,096
Mphasis Ltd.		34,206		979,715
Reliance Industries Ltd.		67,780		2,421,655
UPL Ltd.		108,005		590,618
				10,588,840
Indonesia \| 4.2%
Bank Central Asia Tbk PT		2,627,800		1,669,969
Bank Rakyat Indonesia Persero Tbk PT		5,775,249		2,207,405
				3,877,374
Macau \| 1.6%
Sands China Ltd. (*)		532,400		1,501,477
Mexico \| 4.4%
Arca Continental SAB de CV		77,700		848,022
Grupo Financiero Banorte SAB de CV, Class O		299,457		3,217,108
				4,065,130
Peru \| 1.7%
Credicorp Ltd.		9,198		1,558,417
Philippines \| 3.4%
BDO Unibank, Inc.		691,442		1,901,086
International Container Terminal Services, Inc.		221,139		1,269,138
				3,170,224
Poland \| 1.6%
InPost SA (*)		97,897		1,508,772
South Africa \| 4.0%
Capitec Bank Holdings Ltd.		15,642		1,730,835
Foschini Group Ltd.		130,822		687,425
Standard Bank Group Ltd.		130,723		1,278,976
				3,697,236

South Korea \| 9.2%
CJ Logistics Corp.		6,491		576,929
Samsung Electronics Co. Ltd.		89,991		5,388,196
SK Hynix, Inc.		18,700		2,485,174
				8,450,299
Taiwan \| 19.6%
ASE Technology Holding Co. Ltd.		338,289		1,642,517
Bizlink Holding, Inc.		140,078		1,125,675
Chroma ATE, Inc.		183,000		1,444,034
Hiwin Technologies Corp.		95,714		835,045
Lotes Co. Ltd.		45,687		1,983,252
MediaTek, Inc.		51,000		1,852,691

Description	Shares		Fair Value
Lazard Developing Markets Equity Portfolio (concluded)
RichWave Technology Corp. (*)		106,000	$	678,170
Sercomm Corp.		168,000		756,002
Taiwan Semiconductor Manufacturing Co. Ltd.		323,000		7,782,340
				18,099,726

United States \| 2.5%
EPAM Systems, Inc. (*)		2,599		717,740
SharkNinja, Inc.		14,279		889,439
Tenaris SA ADR		18,664		732,935
				2,340,114

Total Common Stocks (Cost $67,410,508)				91,187,556

Short-Term Investments \| 1.3%
State Street Institutional Treasury Money Market Fund, Premier Class, 5.24% (7 day yield) (Cost $1,218,553)		1,218,553		1,218,553

Total Investments \| 100.0% (Cost $68,629,061)			$	92,406,109
Cash and Other Assets in Excess of Liabilities \| 0.0%				14,602
Net Assets \| 100.0%			$	92,420,711

Description	Shares		Fair Value
Lazard Emerging Markets Core Equity Portfolio
Common Stocks \| 99.8%
Brazil \| 6.4%
Banco BTG Pactual SA		296,696	$	2,155,089
Centrais Eletricas Brasileiras SA		97,200		808,159
MercadoLibre, Inc. (*)		1,074		1,623,845
NU Holdings Ltd., Class A (*)		110,031		1,312,670
Petroleo Brasileiro SA ADR		108,537		1,650,848
				7,550,611
Canada \| 0.8%
Parex Resources, Inc.		55,039		879,291
China \| 19.9%
Alibaba Group Holding Ltd. ADR		47,620		3,445,783
China Merchants Bank Co. Ltd., Class H		540,000		2,138,693
CSPC Pharmaceutical Group Ltd.		1,250,000		984,811
Innovent Biologics, Inc. (*)		208,000		1,003,826
JD.com, Inc. ADR		31,813		871,358
Li Ning Co. Ltd.		232,000		617,154
Midea Group Co. Ltd., Class A		166,700		1,489,463
NetEase, Inc. ADR		12,523		1,295,755
Shenzhen Inovance Technology Co. Ltd., Class A		133,499		1,112,494
Shenzhen Mindray Bio-Medical Electronics Co. Ltd., Class A		26,700		1,035,223
Tencent Holdings Ltd.		125,792		4,908,994
Trip.com Group Ltd. ADR (*)		31,443		1,380,033
Weichai Power Co. Ltd., Class H		775,000		1,477,523
Yum China Holdings, Inc.		38,488		1,531,438
				23,292,548
France \| 1.3%
Pernod Ricard SA ADR		46,114		1,491,327
Ghana \| 0.7%
Kosmos Energy Ltd. (*)		145,658		868,122
Greece \| 2.2%
National Bank of Greece SA (*)		190,247		1,489,462
OPAP SA		62,421		1,123,272
				2,612,734
Hong Kong \| 1.0%
AIA Group Ltd.		172,600		1,158,317
India \| 14.4%
HDFC Bank Ltd. ADR		51,065		2,858,108
Hindalco Industries Ltd.		162,513		1,092,085
ICICI Bank Ltd. ADR		70,719		1,867,689
ITC Ltd.		199,221		1,023,638
Larsen & Toubro Ltd.		46,364		2,092,914

Description	Shares		Fair Value
Macrotech Developers Ltd. (*)		102,207	$	1,394,385
Reliance Industries Ltd.		97,172		3,471,778
Supreme Industries Ltd.		23,492		1,194,264
Tata Consultancy Services Ltd.		40,920		1,905,364
				16,900,225
Indonesia \| 4.0%
Astra International Tbk PT		1,791,900		582,459
Bank Central Asia Tbk PT		2,683,800		1,705,557
Bank Mandiri Persero Tbk PT		3,224,900		1,476,383
Telkom Indonesia Persero Tbk. PT ADR		40,871		909,788
				4,674,187
Macau \| 0.7%
Galaxy Entertainment Group Ltd.		159,000		799,264
Mexico \| 5.6%
Arca Continental SAB de CV		104,845		1,144,283
Corp. Inmobiliaria Vesta SAB de CV ADR		29,415		1,154,245
Grupo Financiero Banorte SAB de CV, Class O		201,877		2,168,793
Kimberly-Clark de Mexico SAB de CV, Class A		357,574		861,843
Regional SAB de CV		123,400		1,218,772
				6,547,936
Peru \| 0.8%
Credicorp Ltd.		5,557		941,522
Philippines \| 2.5%
BDO Unibank, Inc.		430,149		1,182,674
International Container Terminal Services, Inc.		301,550		1,730,625
				2,913,299
Russia \| 0.0%
Mobile TeleSystems PJSC ADR (*), (¢)		45,259		0
Sberbank of Russia PJSC (¢)		213,889		0
				0
Saudi Arabia \| 2.2%
Nahdi Medical Co.		18,239		719,817
Saudi National Bank		175,503		1,910,923
				2,630,740
South Africa \| 4.3%
Anglo American PLC		60,471		1,494,256
Bidvest Group Ltd.		87,326		1,118,465
Capitec Bank Holdings Ltd.		10,621		1,175,246
Shoprite Holdings Ltd.		99,350		1,297,651
				5,085,618

Description	Shares		Fair Value
Lazard Emerging Markets Core Equity Portfolio (concluded)
South Korea \| 11.1%
Kia Corp.		15,323	$	1,274,920
LG Chem Ltd.		2,481		811,212
Samsung Electronics Co. Ltd.		78,723		4,713,526
Shinhan Financial Group Co. Ltd.		58,319		2,060,190
SK Hynix, Inc.		31,015		4,121,801
				12,981,649
Taiwan \| 17.6%
ASE Technology Holding Co. Ltd.		329,000		1,597,416
Chailease Holding Co. Ltd.		279,240		1,496,421
CTBC Financial Holding Co. Ltd.		1,328,000		1,345,687
Eclat Textile Co. Ltd.		51,789		884,941
MediaTek, Inc.		73,000		2,651,890
Nien Made Enterprise Co. Ltd.		99,000		1,099,106
Taiwan Semiconductor Manufacturing Co. Ltd.		241,000		5,806,638
Taiwan Semiconductor Manufacturing Co. Ltd. ADR		41,990		5,712,739
				20,594,838
United Arab Emirates \| 1.9%
Abu Dhabi Ports Co. PJSC (*)		461,289		722,186
ADNOC Drilling Co. PJSC		1,432,426		1,548,788
				2,270,974
United Kingdom \| 1.3%
Unilever PLC		3,227		161,960
Unilever PLC ADR		27,983		1,404,467
				1,566,427
United States \| 1.1%
Freeport-McMoRan, Inc.		27,995		1,316,325
Total Common Stocks (Cost $97,880,863)				117,075,954
Short-Term Investments \| 0.7%
State Street Institutional Treasury Money Market Fund, Premier Class, 5.24% (7 day yield) (Cost $788,099)		788,099		788,099
Total Investments \| 100.5% (Cost $98,668,962)			$	117,864,053
Liabilities in Excess of Cash and Other Assets \| (0.5)%				(624,534)
Net Assets \| 100.0%			$	117,239,519

Description	Shares		Fair Value
Lazard Emerging Markets Equity Advantage Portfolio
Common Stocks \| 97.4%
Brazil \| 2.8%
Banco do Brasil SA		72,100	$	813,953
BB Seguridade Participacoes SA		40,600		263,252
Cia de Saneamento Basico do Estado de Sao Paulo SABESP		10,300		173,946
Cia De Sanena Do Parana		114,600		594,776
EcoRodovias Infraestrutura e Logistica SA		16,500		26,812
Energisa SA		17,700		168,940
Klabin SA		32,100		161,671
PRIO SA		17,700		172,010
Telefonica Brasil SA		40,200		405,575
Vale SA		37,709		457,359
				3,238,294
Chile \| 0.2%
Enel Chile SA ADR		68,443		208,751

China \| 26.2%
Alibaba Group Holding Ltd.		310,500		2,802,204
Anker Innovations Technology Co. Ltd., Class A		10,000		105,927
ANTA Sports Products Ltd.		19,200		204,915
Baidu, Inc. ADR (*)		4,231		445,440
Bank of China Ltd., Class H		994,000		410,577
Bank of Shanghai Co. Ltd., Class A		257,100		238,785
Baoshan Iron & Steel Co. Ltd., Class A		562,100		503,201
Beijing New Building Materials PLC, Class A		43,500		172,204
Beijing Oriental Yuhong Waterproof Technology Co. Ltd., Class A		52,800		117,363
Bosideng International Holdings Ltd.		234,000		116,959
BYD Co. Ltd., Class H		41,000		1,048,203
BYD Electronic International Co. Ltd.		43,000		158,788
China CITIC Bank Corp. Ltd., Class H		698,000		372,010
China Construction Bank Corp., Class H		1,859,000		1,122,117
China International Capital Corp. Ltd., Class H		188,800		223,874
China Longyuan Power Group Corp. Ltd., Class H		921,000		648,252
China Merchants Bank Co. Ltd., Class H		133,000		526,752
China Nonferrous Mining Corp. Ltd.		138,000		115,439
China Pacific Insurance Group Co. Ltd., Class H		78,800		138,145
China Resources Power Holdings Co. Ltd.		92,000		214,661
China Tower Corp. Ltd., Class H		2,356,000		268,836
China United Network Communications Ltd., Class A		242,800		154,880
Chongqing Changan Automobile Co., Ltd.		62,900		150,069

Description	Shares		Fair Value
Chow Tai Fook Jewellery Group Ltd.		80,400	$	118,734
Contemporary Amperex Technology Co. Ltd., Class A		5,980		156,612
CSPC Pharmaceutical Group Ltd.		709,840		559,247
ENN Natural Gas Co. Ltd., Class A		74,097		196,483
Ganfeng Lithium Group Co. Ltd., Class H		98,800		302,926
H World Group Ltd., ADR		5,986		231,658
Haidilao International Holding Ltd.		181,000		409,362
Huaibei Mining Holdings Co. Ltd., Class A		74,500		168,843
Industrial & Commercial Bank of China Ltd., Class H		373,000		187,930
JD Logistics, Inc. (*)		258,700		264,048
JD.com, Inc., Class A		53,454		727,202
Jinan Acetate Chemical Co. Ltd.		6,102		170,860
Kanzhun, Ltd. ADR		13,801		241,932
KE Holdings, Inc. ADR		20,026		274,957
Kingdee International Software Group Co. Ltd. (*)		114,000		128,933
Kingnet Network Co. Ltd., Class A		106,300		164,611
Kuaishou Technology (*)		89,700		563,137
Kunlun Energy Co. Ltd.		352,000		293,920
Li Auto, Inc. ADR (*)		16,690		505,373
Lingyi iTech Guangdong Co., Class A		315,100		237,677
Meihua Holdings Group Co. Ltd., Class A		121,800		169,665
Meitu, Inc.		370,000		155,339
Meituan, Class B (*)		72,370		894,011
MINISO Group Holding Ltd. ADR		13,673		280,296
NetEase, Inc.		59,300		1,232,364
New Oriental Education & Technology Group, Inc. ADR (*)		5,813		504,685
PDD Holdings, Inc., ADR (*)		10,509		1,221,671
People’s Insurance Co. Group of China Ltd., Class H		1,309,000		418,128
PetroChina Co. Ltd., Class H		494,000		422,557
PICC Property & Casualty Co. Ltd., Class H		292,000		385,031
Ping An Insurance Group Co. of China Ltd., Class H		84,500		359,469
Satellite Chemical Co. Ltd., Class A (*)		106,500		251,349
Shanghai Aiko Solar Energy Co. Ltd., Class A		61,200		115,793
Shenzhen Mindray Bio-Medical Electronics Co. Ltd., Class A		6,400		248,143
Shenzhen Sinexcel Electric Co. Ltd., Class A		35,200		144,937
Sungrow Power Supply Co. Ltd., Class A		18,700		267,122
Sunny Optical Technology Group Co. Ltd.		76,800		392,797
Suofeiya Home Collection Co. Ltd. Class A		66,600		141,956
Tencent Holdings Ltd.		108,200		4,222,471
Tencent Music Entertainment Group ADR (*)		23,665		264,811

Description	Shares		Fair Value
Lazard Emerging Markets Equity Advantage Portfolio (continued)
Tian Di Science & Technology Co. Ltd., Class A		290,300	$	273,110
Tongcheng Travel Holdings Ltd. (*)		97,200		256,770
Trip.com Group Ltd. ADR (*)		6,134		269,221
Vipshop Holdings Ltd. ADR		23,384		387,005
Weichai Power Co. Ltd., Class H		113,000		215,432
Xiaomi Corp., Class B (*)		353,000		731,853
Yihai International Holding Ltd.		144,000		272,682
Yum China Holdings, Inc.		1,868		74,328
ZBOM Home Collection Co. Ltd., Class A		77,840		174,869
				30,911,911
Colombia \| 0.2%
Bancolombia SA ADR		7,289		249,430
Egypt \| 0.1%
Commercial International Bank - Egypt (CIB) GDR		100,188		159,700
Greece \| 0.6%
Danaos Corp.		2,280		164,616
National Bank of Greece SA (*)		49,381		386,608
Piraeus Financial Holdings SA (*)		45,481		190,077
				741,301
Hungary \| 0.1%
Richter Gedeon Nyrt.		5,459		138,481
India \| 17.2%
Adani Enterprises Ltd.		2,856		109,991
Adani Green Energy Ltd. (*)		4,812		106,536
Adani Ports & Special Economic Zone Ltd.		24,862		401,718
Angel One Ltd.		5,523		201,896
Axis Bank Ltd. GDR		3,190		201,909
Bajaj Finance Ltd.		1,660		144,434
Bajaj Finserv Ltd.		12,356		244,010
Bank of Baroda		143,629		454,911
BEML Ltd.		6,927		264,539
Birlasoft Ltd.		24,870		222,073
Britannia Industries Ltd.		6,213		365,913
Can Fin Homes Ltd.		15,988		144,382
Ceat Ltd.		6,991		224,957
Chennai Petroleum Corp. Ltd.		10,391		113,003
Cipla Ltd.		61,776		1,108,689
Coforge Ltd.		2,959		195,328
Dr Reddy’s Laboratories Ltd. ADR		19,412		1,423,870
HCL Technologies Ltd.		45,851		848,939
HDFC Bank Ltd. ADR		4,277		239,384
Hindustan Aeronautics Ltd.		17,629		705,991
ICICI Bank Ltd. ADR		38,344		1,012,665

Description	Shares		Fair Value
Indiabulls Housing Finance Ltd.		79,680	$	160,884
Infibeam Avenues Ltd.		423,729		173,351
Infosys Ltd. ADR		25,763		461,931
Jindal Stainless Ltd.		33,735		281,650
Jio Financial Services Ltd. (*)		22,782		96,791
Jupiter Wagons Ltd.		14,758		66,253
Karur Vysya Bank Ltd.		105,950		232,705
KPIT Technologies Ltd.		8,747		156,288
Larsen & Toubro Ltd. GDR		9,136		413,719
LIC Housing Finance Ltd.		87,492		641,144
Life Insurance Corp. of India		54,402		600,488
Manappuram Finance Ltd.		257,609		535,983
Motilal Oswal Financial Services Ltd.		10,909		218,151
Nestle India Ltd.		10,650		335,288
NMDC Steel Ltd. (*)		280,292		183,916
Oil & Natural Gas Corp. Ltd.		74,884		240,759
Piramal Enterprises Ltd.		16,608		169,321
PTC India Ltd.		72,183		161,036
Reliance Industries Ltd. GDR (#)		10,761		768,131
Shriram Finance Ltd.		10,864		307,529
Sonata Software Ltd.		25,912		224,995
State Bank of India GDR		17,400		1,578,523
Sun Pharmaceutical Industries Ltd.		41,889		814,034
Tata Communications Ltd.		14,313		345,105
Tata Consultancy Services Ltd.		13,287		618,685
Tata Motors Ltd.		51,667		615,291
Torrent Pharmaceuticals Ltd.		5,297		165,188
Union Bank of India Ltd.		318,035		585,589
Varun Beverages Ltd.		10,174		170,837
Vedanta Ltd.		74,721		244,306
				20,303,009
Indonesia \| 2.3%
Bank Mandiri Persero Tbk PT		3,295,200		1,508,566
Bank Rakyat Indonesia Persero Tbk PT		2,692,300		1,029,046
Telkom Indonesia Persero Tbk. PT ADR		6,411		142,709
				2,680,321
Malaysia \| 1.3%
CIMB Group Holdings Bhd.		854,300		1,186,681
IJM Corp. Bhd.		252,500		129,268
My EG Services Bhd		989,100		165,470
Scientex Bhd.		73,500		64,088
				1,545,507
Mexico \| 3.3%
Arca Continental SAB de CV		83,800		914,597
Cemex SAB de CV (*)		524,600		473,625

Description	Shares		Fair Value
Lazard Emerging Markets Equity Advantage Portfolio (continued)
Coca-Cola Femsa SAB de CV ADR		11,229	$	1,091,459
Fibra Uno Administracion SA de CV REIT		271,300		452,318
Kimberly-Clark de Mexico SAB de CV, Class A		243,500		586,896
Southern Copper Corp.		3,392		361,316
				3,880,211
Philippines \| 0.8%
International Container Terminal Services, Inc.		123,490		708,721
Metropolitan Bank & Trust Co.		201,380		234,049
				942,770
Poland \| 1.4%
Benefit Systems SA		203		143,856
Budimex SA		969		169,754
KGHM Polska Miedz SA		6,393		182,848
Orange Polska SA		118,437		240,341
ORLEN SA		37,753		614,696
PGE Polska Grupa Energetyczna SA (*)		77,193		139,066
Powszechna Kasa Oszczednosci Bank Polski SA		8,398		124,638
				1,615,199
Qatar \| 0.3%
Ooredoo QPSC		106,827		311,016
Russia \| 0.0%
PhosAgro PJSC (*), (¢)		42		0
Severstal PAO GDR (*), (¢)		9,589		0
				0
Saudi Arabia \| 3.4%
Alinma Bank		19,533		228,198
Almarai Co. JSC		6,778		103,375
Astra Industrial Group		6,208		314,175
Banque Saudi Fransi		22,487		233,687
Co. for Cooperative Insurance		2,142		92,571
Elm Co.		1,816		464,352
Etihad Etisalat Co.		28,161		394,879
Leejam Sports Co. JSC		6,240		363,543
National Agriculture Development Co. (*)		13,783		108,780
National Medical Care Co.		5,975		297,882
Riyadh Cables Group Co.		17,430		469,451
Saudi Arabian Mining Co. (*)		17,545		236,254
Saudi Arabian Oil Co.		61,789		506,600
Saudi Awwal Bank		10,514		116,349
Saudi Basic Industries Corp.		6,009		125,132
				4,055,228
South Africa \| 1.9%

Description	Shares		Fair Value
African Rainbow Minerals Ltd.		17,583	$	152,376
FirstRand Ltd.		75,730		246,823
Gold Fields Ltd. ADR		24,530		389,781
Harmony Gold Mining Co. Ltd. ADR		38,332		313,172
Mr Price Group Ltd.		25,726		235,965
Naspers Ltd., N Shares		1,365		241,322
Sappi Ltd.		153,052		406,028
Standard Bank Group Ltd.		24,309		237,836
				2,223,303
South Korea \| 13.4%
BNK Financial Group, Inc.		22,501		133,146
Chong Kun Dang Pharmaceutical Corp.		2,330		196,462
CJ CheilJedang Corp.		698		151,428
DB Insurance Co. Ltd.		6,422		460,068
Dongjin Semichem Co. Ltd.		5,546		192,071
Doosan Bobcat, Inc.		10,273		412,238
Hana Financial Group, Inc.		15,633		684,157
Hanwha Aerospace Co. Ltd.		4,606		711,384
HMM Co. Ltd.		13,902		162,693
Hyundai Marine & Fire Insurance Co. Ltd.		13,519		309,846
Hyundai Rotem Co. Ltd.		15,967		408,064
JB Financial Group Co. Ltd.		11,610		112,264
KB Financial Group, Inc.		25,845		1,344,414
Kia Corp.		21,062		1,752,422
KIWOOM Securities Co. Ltd.		1,290		118,190
LG Chem Ltd.		1,989		650,343
LG Electronics, Inc.		2,440		175,499
Mirae Asset Securities Co. Ltd.		16,710		100,943
Orion Corp.		2,070		141,031
POSCO Holdings, Inc.		1,134		354,748
Samsung C&T Corp.		2,021		240,429
Samsung Electronics Co. Ltd. GDR		3,215		4,779,253
Samsung Fire & Marine Insurance Co. Ltd.		1,053		240,988
Samsung Life Insurance Co. Ltd.		3,384		240,107
SK Hynix, Inc.		3,955		525,608
SK Telecom Co. Ltd.		6,516		258,001
Woori Financial Group, Inc.		83,528		903,937
				15,759,734
Taiwan \| 17.7%
Accton Technology Corp.		48,000		687,808
Advantech Co. Ltd.		14,797		188,349
Airoha Technology Corp.		11,000		210,060
Alchip Technologies Ltd.		3,000		296,790
Asia Vital Components Co. Ltd.		20,000		339,689
ASMedia Technology, Inc.		4,000		289,168
Asustek Computer, Inc.		19,000		251,812
Chicony Electronics Co. Ltd.		82,000		567,907

Description	Shares		Fair Value
Lazard Emerging Markets Equity Advantage Portfolio (concluded)
Delta Electronics, Inc.		144,000	$	1,542,823
Elan Microelectronics Corp.		43,000		215,673
Eva Airways Corp.		345,000		340,602
Global Unichip Corp.		3,000		114,393
Hon Hai Precision Industry Co. Ltd.		81,000		393,590
International Games System Co. Ltd.		21,000		738,314
ITE Technology, Inc.		52,000		286,833
Lite-On Technology Corp.		62,000		205,400
Lotes Co. Ltd.		5,000		217,048
MediaTek, Inc.		60,000		2,179,636
Novatek Microelectronics Corp.		32,000		589,603
Quanta Computer, Inc.		32,000		280,439
Realtek Semiconductor Corp.		30,000		522,856
Sunonwealth Electric Machine Industry Co. Ltd.		92,000		378,138
Taiwan Semiconductor Manufacturing Co. Ltd.		371,000		8,938,849
Tong Yang Industry Co. Ltd.		112,000		437,510
Wistron Corp.		50,000		188,346
Wiwynn Corp.		7,000		479,278
				20,880,914
Thailand \| 1.9%
Bumrungrad Hospital PCL (‡)		51,200		312,918
Krung Thai Bank PCL NVDR		949,100		437,348
PTT Exploration & Production PCL		214,700		882,631
PTT PCL NVDR		382,200		350,941
TMBThanachart Bank PCL NVDR		4,279,000		213,635
				2,197,473
Turkey \| 0.9%
Akbank TAS		152,462		220,736
Turk Hava Yollari AO (*)		20,714		190,765
Turkcell Iletisim Hizmetleri AS		82,386		174,224
Turkiye Garanti Bankasi AS		108,164		239,205
Turkiye Is Bankasi AS, Class C		713,786		248,116
				1,073,046
United Arab Emirates \| 1.4%
Abu Dhabi Islamic Bank PJSC		103,396		307,485
ADNOC Logistics & Services		189,391		208,940
Aldar Properties PJSC		161,690		243,039
Emaar Development PJSC		87,595		195,620
Emaar Properties PJSC		204,242		453,165
Emirates NBD Bank PJSC		58,747		276,825
				1,685,074
Total Common Stocks (Cost $102,519,362)				114,800,673

Description	Shares		Fair Value
Preferred Stocks \| 1.1%
Brazil \| 1.1%
Petroleo Brasileiro SA (Cost $937,491)		180,939	$	1,347,825
Short-Term Investments \| 1.1%
State Street Institutional Treasury Money Market Fund, Premier Class, 5.24% (7 day yield) (Cost $1,308,076)		1,308,076		1,308,076
Total Investments \| 99.6% (Cost $104,764,929)			$	117,456,574
Cash and Other Assets in Excess of Liabilities \| 0.4%				457,653
Net Assets \| 100.0%			$	117,914,227

Description	Shares		Fair Value
Lazard Emerging Markets Equity Portfolio
Common Stocks \| 97.5%
Brazil \| 10.8%
Banco do Brasil SA		5,742,126	$	64,824,176
BB Seguridade Participacoes SA		9,566,817		62,031,521
CCR SA		11,099,417		30,584,588
Engie Brasil Energia SA		2,491,300		19,998,353
Petroleo Brasileiro SA ADR		3,377,778		51,376,003
Vale SA ADR		2,494,703		30,410,430
Vibra Energia SA		6,530,500		32,565,260
				291,790,331
Chile \| 0.9%
Sociedad Quimica y Minera de Chile SA ADR		468,317		23,022,464
China \| 24.7%
Alibaba Group Holding Ltd. ADR		362,070		26,199,385
Anhui Conch Cement Co. Ltd., Class H		10,972,451		22,847,482
China Construction Bank Corp., Class H		118,715,224		71,658,104
China Medical System Holdings Ltd.		13,077,000		13,737,435
China Merchants Bank Co. Ltd., Class H		7,592,494		30,070,402
China Shenhua Energy Co. Ltd., Class H		5,506,610		21,648,268
China Vanke Co. Ltd., Class H		15,298,449		10,607,187
ENN Natural Gas Co. Ltd., Class A		7,988,953		21,184,310
Gree Electric Appliances, Inc. of Zhuhai, Class A		7,263,276		39,399,827
Hengan International Group Co. Ltd.		8,907,500		28,070,712
Huayu Automotive Systems Co. Ltd., Class A		10,580,148		24,096,348
JD.com, Inc. ADR		877,787		24,042,586
Lenovo Group Ltd.		54,372,000		63,026,859
Midea Group Co. Ltd., Class A		4,677,899		41,797,000
NetEase, Inc. ADR		192,784		19,947,361
Ping An Insurance Group Co. of China Ltd., Class H		7,520,000		31,990,646
Sinopharm Group Co. Ltd., Class H		17,930,814		45,993,423
Tencent Holdings Ltd.		729,000		28,448,999
Tingyi Cayman Islands Holding Corp.		31,570,000		34,611,072
Want Want China Holdings Ltd.		32,449,000		19,154,673
Weichai Power Co. Ltd., Class H		26,218,288		49,984,664
				668,516,743
Egypt \| 0.7%
Commercial International Bank - Egypt (CIB) GDR		11,941,523		19,034,573
Greece \| 1.8%
National Bank of Greece SA (*)		3,660,314		28,656,954
OPAP SA		1,060,222		19,078,791
				47,735,745

Description	Shares		Fair Value
Hong Kong \| 0.9%
ASMPT Ltd.		2,014,400	$	25,352,240
Hungary \| 3.0%
MOL Hungarian Oil & Gas PLC		3,196,958		25,923,027
OTP Bank Nyrt		1,220,586		56,176,056
				82,099,083
India \| 6.2%
Axis Bank Ltd.		1,897,093		23,868,380
Hindalco Industries Ltd.		2,615,123		17,573,584
Indus Towers Ltd. (*)		15,322,024		53,516,737
Infosys Ltd. ADR		1,484,967		26,625,458
Tata Consultancy Services Ltd.		463,803		21,596,127
UPL Ltd.		4,628,366		25,309,894
				168,490,180
Indonesia \| 4.3%
Astra International Tbk PT		87,287,800		28,373,007
Bank Mandiri Persero Tbk PT		86,877,684		39,773,230
Telkom Indonesia Persero Tbk PT ADR		1,244,181		27,695,469
United Tractors Tbk PT		13,362,700		20,376,930
				116,218,636
Mexico \| 6.1%
America Movil SAB de CV ADR		1,794,482		33,485,034
Grupo Aeroportuario del Pacifico SAB de CV ADR		128,543		20,974,361
Grupo Financiero Banorte SAB de CV, Class O		3,148,437		33,824,097
Grupo Mexico SAB de CV, Series B		4,140,285		24,525,368
Kimberly-Clark de Mexico SAB de CV, Class A		13,914,695		33,537,919
Ternium SA ADR		431,823		17,972,473
				164,319,252
Portugal \| 2.1%
Galp Energia SGPS SA		3,446,343		57,047,216
Russia \| 0.0%
Mobile TeleSystems PJSC ADR (*), (¢)		4,695,624		5
Sberbank of Russia PJSC (¢)		13,596,421		13
				18
South Africa \| 7.8%
Anglo American PLC		932,873		23,051,564
Bidvest Group Ltd.		2,028,492		25,980,765
Life Healthcare Group Holdings Ltd.		30,134,890		27,350,897
Nedbank Group Ltd.		3,435,738		41,481,045
Sanlam Ltd.		8,762,419		32,116,040
Standard Bank Group Ltd.		3,030,920		29,654,098
Vodacom Group Ltd.		6,015,717		31,285,582
				210,919,991

Description	Shares		Fair Value
Lazard Emerging Markets Equity Portfolio (concluded)
South Korea \| 11.2%
Coway Co. Ltd.		526,982	$	22,048,170
Doosan Bobcat, Inc.		249,183		9,999,292
Hyundai Mobis Co. Ltd.		148,674		28,888,483
KB Financial Group, Inc.		912,906		47,487,859
Kia Corp.		214,685		17,862,445
KT Corp.		1,230,012		34,681,744
KT&G Corp.		285,901		19,902,265
Samsung Electronics Co. Ltd.		482,287		28,876,850
Shinhan Financial Group Co. Ltd.		1,322,263		46,710,548
SK Hynix, Inc.		343,000		45,583,680
				302,041,336
Taiwan \| 14.0%
ASE Technology Holding Co. Ltd.		15,459,000		75,059,120
Globalwafers Co. Ltd.		1,485,000		25,756,515
Hon Hai Precision Industry Co. Ltd.		6,324,425		30,731,205
MediaTek, Inc.		1,462,000		53,110,458
Novatek Microelectronics Corp.		1,909,000		35,173,530
Taiwan Semiconductor Manufacturing Co. Ltd.		5,173,913		124,659,906
Yageo Corp.		1,749,000		32,484,628
				376,975,362
Thailand \| 1.7%
Kasikornbank PCL		6,279,054		21,343,177
PTT Exploration & Production PCL		5,680,400		23,352,107
				44,695,284
United Kingdom \| 1.3%
Unilever PLC		721,438		36,208,288
Total Common Stocks (Cost $2,328,007,211)				2,634,466,742
Short-Term Investments \| 2.1%
State Street Institutional Treasury Money Market Fund, Premier Class, 5.24% (7 day yield) (Cost $56,992,157)		56,992,157		56,992,157
Total Investments \| 99.6% (Cost $2,384,999,368)			$	2,691,458,899
Cash and Other Assets in Excess of Liabilities \| 0.4%				10,637,339
Net Assets \| 100.0%			$	2,702,096,238

Description	Shares		Fair Value
Lazard Equity Franchise Portfolio
Common Stocks \| 93.6%
Germany \| 7.3%
Fresenius Medical Care AG		154,174	$	5,929,390
Knorr-Bremse AG		92,039		6,961,232
				12,890,622
Ireland \| 4.1%
Kerry Group PLC, Class A		83,125		7,134,205
Italy \| 9.1%
Nexi SpA (*)		1,679,198		10,648,270
Snam SpA		1,148,016		5,418,764
				16,067,034
Luxembourg \| 3.7%
SES SA		985,230		6,565,867
United Kingdom \| 17.5%
National Grid PLC		788,039		10,601,856
Reckitt Benckiser Group PLC		47,294		2,690,507
Rentokil Initial PLC		594,891		3,550,130
Severn Trent PLC		226,134		7,056,518
United Utilities Group PLC		533,399		6,935,615
				30,834,626
United States \| 51.9%
Cisco Systems, Inc.		75,461		3,766,259
Cognizant Technology Solutions Corp., Class A		72,615		5,321,953
CVS Health Corp.		152,549		12,167,308
DENTSPLY SIRONA, Inc.		185,010		6,140,482
eBay, Inc.		166,914		8,809,721
Exelon Corp.		27,573		1,035,918
Ferrovial SE		91,181		3,608,656
Fiserv, Inc. (*)		44,204		7,064,683
H&R Block, Inc.		217,111		10,662,321
Henry Schein, Inc. (*)		93,720		7,077,734
International Game Technology PLC		473,137		10,688,165
Kraft Heinz Co.		72,301		2,667,907
Omnicom Group, Inc.		111,020		10,742,295
Visa, Inc., A Shares		6,460		1,802,857
				91,556,259
Total Common Stocks (Cost $158,164,091)				165,048,613

Preferred Stocks \| 3.8%
Germany \| 3.8%
Henkel AG & Co. KGaA (Cost $6,217,970)		84,660		6,803,898

Description	Shares		Fair Value
Short-Term Investments \| 2.5%
State Street Institutional Treasury Money Market Fund, Premier Class, 5.24% (7 day yield) (Cost $4,389,728)		4,389,728	$	4,389,728
Total Investments \| 99.9% (Cost $168,771,789)			$	176,242,239
Cash and Other Assets in Excess of Liabilities \| 0.1%				149,169
Net Assets \| 100.0%			$	176,391,408

Description	Shares		Fair Value
Lazard Global Equity Select Portfolio
Common Stocks \| 98.7%
Australia \| 0.8%
Computershare Ltd.		51,305	$	873,091
Canada \| 4.9%
Dollarama, Inc.		18,474		1,407,354
National Bank of Canada		25,865		2,177,965
Toromont Industries Ltd.		15,525		1,493,990
				5,079,309
China \| 2.4%
NXP Semiconductors NV		6,751		1,672,696
Tencent Holdings Ltd.		22,323		871,148
				2,543,844
Denmark \| 0.8%
Carlsberg AS, Class B		5,812		796,320
Finland \| 0.8%
Kone OYJ, Class B		18,028		838,559
France \| 4.4%
Legrand SA		8,319		880,133
LVMH Moet Hennessy Louis Vuitton SE		1,715		1,551,110
Pernod Ricard SA		5,011		810,225
Thales SA		7,876		1,342,673
				4,584,141
Germany \| 0.8%
Merck KGaA		4,806		848,202
Hong Kong \| 0.7%
AIA Group Ltd.		101,383		680,380
India \| 1.1%
HDFC Bank Ltd. ADR		19,720		1,103,728
Japan \| 3.2%
FANUC Corp.		33,700		942,552
Kadokawa Corp.		36,800		645,691
Nintendo Co. Ltd.		22,200		1,215,070
Shimano, Inc.		3,900		582,363
				3,385,676
Netherlands \| 3.2%
ASM International NV		2,132		1,298,826
Wolters Kluwer NV		13,397		2,098,085
				3,396,911
Spain \| 1.3%
Industria de Diseno Textil SA		26,373		1,328,061
Sweden \| 2.8%
Assa Abloy AB, Class B		24,629		706,478

Description	Shares		Fair Value
Epiroc AB, Class A		54,886	$	1,034,903
Hexagon AB, B Shares		104,442		1,236,287
				2,977,668
Switzerland \| 3.1%
ABB Ltd.		40,516		1,880,456
Partners Group Holding AG		983		1,404,669
				3,285,125
Taiwan \| 2.3%
Taiwan Semiconductor Manufacturing Co. Ltd. ADR		17,864		2,430,397
United Kingdom \| 6.5%
Coca-Cola Europacific Partners PLC		19,439		1,359,758
Diageo PLC		30,981		1,144,147
RELX PLC		58,985		2,554,693
Unilever PLC		33,823		1,698,461
				6,757,059
United States \| 59.6%
Accenture PLC, Class A		7,686		2,664,044
Alphabet, Inc., Class A (*)		28,978		4,373,650
Amazon.com, Inc. (*)		22,522		4,062,518
Amphenol Corp., Class A		13,800		1,591,830
Aon PLC, Class A		6,329		2,112,114
Avery Dennison Corp.		4,232		944,794
Bank of America Corp.		32,519		1,233,121
Booz Allen Hamilton Holding Corp.		16,895		2,507,894
BRP, Inc.		10,086		677,215
Charles Schwab Corp.		20,755		1,501,417
Coca-Cola Co.		27,327		1,671,866
Danaher Corp.		7,842		1,958,304
Deere & Co.		2,641		1,084,764
Estee Lauder Cos., Inc., Class A		6,197		955,268
Intercontinental Exchange, Inc.		15,621		2,146,794
IQVIA Holdings, Inc. (*)		8,768		2,217,340
Johnson & Johnson		11,840		1,872,970
McDonald’s Corp.		4,692		1,322,909
Microsoft Corp.		12,485		5,252,689
Motorola Solutions, Inc.		6,336		2,249,153
NIKE, Inc., Class B		9,549		897,415
Procter & Gamble Co.		10,183		1,652,192
PTC, Inc. (*)		8,759		1,654,925
Rockwell Automation, Inc.		4,156		1,210,767
S&P Global, Inc.		4,125		1,754,981
Sysco Corp.		9,854		799,948
Texas Instruments, Inc.		8,797		1,532,525
Thermo Fisher Scientific, Inc.		3,994		2,321,353

Description	Shares		Fair Value
Lazard Global Equity Select Portfolio (concluded)
TopBuild Corp. (*)		3,085		1,359,652
UnitedHealth Group, Inc.		2,631		1,301,556
Visa, Inc., A Shares		8,288		2,313,015
Warner Music Group Corp., Class A		16,248		536,509
Wells Fargo & Co.		25,579		1,482,559
Zoetis, Inc.		7,481		1,265,860
				62,483,911
Total Common Stocks (Cost $65,254,399)				103,392,382
Short-Term Investments \| 1.2%
State Street Institutional Treasury Money Market Fund, Premier Class, 5.24% (7 day yield) (Cost $1,272,011)		1,272,011		1,272,011
Total Investments \| 99.9% (Cost $66,526,410)			$	104,664,393
Cash and Other Assets in Excess of Liabilities \| 0.1%				154,004
Net Assets \| 100.0%			$	104,818,397

Description	Shares		Fair Value
Lazard Global Listed Infrastructure Portfolio
Common Stocks \| 92.0%
Australia \| 5.4%
Atlas Arteria Ltd. (^)		83,962,746	$	291,647,170
Transurban Group		21,855,042		189,987,742
				481,634,912
Canada \| 2.2%
Algonquin Power & Utilities Corp.		30,786,363		194,552,632
France \| 5.3%
Eutelsat Communications SACA (*)		13,575,587		59,184,906
Vinci SA		3,271,805		419,078,393
				478,263,299
Hong Kong \| 4.4%
CK Infrastructure Holdings Ltd.		25,246,500		147,745,190
Power Assets Holdings Ltd.		41,668,265		243,849,044
				391,594,234
Italy \| 14.7%
Hera SpA		71,933,603		253,459,761
Italgas SpA (^)		41,420,708		241,308,325
Snam SpA		85,822,759		405,093,018
Terna - Rete Elettrica Nazionale		49,753,518		412,604,502
				1,312,465,606
Luxembourg \| 1.6%
SES SA (^)		21,121,589		140,760,576
Portugal \| 0.7%
REN - Redes Energeticas Nacionais SGPS SA		29,065,003		68,976,346
Spain \| 1.2%
Atlantica Sustainable Infrastructure PLC		5,728,606		105,864,639
Switzerland \| 2.1%
Flughafen Zurich AG		831,615		188,631,659
United Kingdom \| 18.5%
National Grid PLC		53,180,129		715,457,080
Pennon Group PLC (^)		15,739,198		128,767,403
Severn Trent PLC		12,880,451		401,934,826
United Utilities Group PLC		31,330,320		407,378,032
				1,653,537,341
United States \| 35.9%
American Electric Power Co., Inc.		4,665,915		401,735,281
CSX Corp.		10,407,836		385,818,481
Exelon Corp.		18,984,188		713,235,943
Ferrovial SE		18,500,635		732,196,741
Norfolk Southern Corp.		1,608,819		410,039,699
Pinnacle West Capital Corp.		3,905,028		291,822,742

Description	Shares		Fair Value
PPL Corp.		9,930,500	$	273,386,665
				3,208,235,552
Total Common Stocks (Cost $7,523,859,993)				8,224,516,796
Short-Term Investments \| 7.2%
State Street Institutional Treasury Money Market Fund, Premier Class, 5.24% (7 day yield) (Cost $640,953,530)		640,953,530		640,953,530
Total Investments \| 99.2% (Cost $8,164,813,523) (»)			$	8,865,470,326
Cash and Other Assets in Excess of Liabilities \| 0.8%				74,346,892
Net Assets \| 100.0%			$	8,939,817,218

Lazard Global Listed Infrastructure Portfolio (concluded)

Forward Currency Contracts open at March 31, 2024:

Currency Purchased	Quantity	Currency Sold	Quantity	Counterparty	Settlement Date	Unrealized Appreciation		Unrealized Depreciation
AUD	54,409,143	USD	35,642,336	HSB	06/26/24	$	—	$	103,306
USD	61,350,938	AUD	93,788,696	BNP	06/26/24		89,924		—
USD	109,958,494	AUD	168,234,120	CIT	06/26/24		71,128		—
USD	122,218,622	AUD	186,950,091	HSB	06/26/24		106,336		—
USD	98,596,462	AUD	150,725,237	MSC	06/26/24		145,570		—
USD	119,332,911	AUD	182,563,928	SSB	06/26/24		85,585		—
USD	5,857,308	CAD	7,936,858	BNP	06/26/24		—		9,254
USD	63,056,845	CAD	85,457,915	CIT	06/26/24		—		109,736
USD	6,821,490	CAD	9,242,744	HSB	06/26/24		—		10,323
USD	20,161,730	CAD	27,361,657	HSB	06/26/24		—		62,755
USD	38,171,730	CAD	51,721,014	MSC	06/26/24		—		58,078
USD	52,571,640	CAD	71,231,943	SCB	06/26/24		—		79,754
USD	38,240,955	CHF	33,628,905	BNP	06/26/24		603,236		—
USD	15,068,214	CHF	13,393,344	SCB	06/26/24		78,284		—
USD	62,146,175	CHF	54,650,103	SCB	06/26/24		981,374		—
USD	72,199,610	CHF	63,488,005	SSB	06/26/24		1,143,364		—
USD	338,978,629	EUR	311,045,214	BNP	06/26/24		2,260,849		—
USD	438,466,213	EUR	402,598,695	CAN	06/26/24		2,638,453		—
USD	413,609,425	EUR	379,821,981	CIT	06/26/24		2,438,288		—
USD	380,501,000	EUR	349,403,399	HSB	06/26/24		2,259,087		—
USD	373,795,240	EUR	343,204,717	MEL	06/26/24		2,263,626		—
USD	350,195,802	EUR	321,547,230	RBC	06/26/24		2,109,207		—
USD	412,952,063	EUR	379,251,752	SSB	06/26/24		2,398,220		—
USD	179,775,578	GBP	141,628,060	CAN	06/26/24		941,104		—
USD	584,021,572	GBP	459,866,747	HSB	06/26/24		3,345,485		—
USD	224,515,407	GBP	176,771,258	MSC	06/26/24		1,305,438		—
USD	365,032,260	GBP	287,543,579	RBC	06/26/24		1,949,517		—
USD	282,079,130	GBP	222,226,789	SSB	06/26/24		1,472,231		—
USD	89,587,916	HKD	699,287,435	BNP	06/26/24		30,736		—
USD	41,324,467	HKD	322,496,144	HSB	06/26/24		22,645		—
USD	101,578,686	HKD	792,781,015	MSC	06/26/24		47,859		—
USD	31,162,585	HKD	243,192,810	SCB	06/26/24		17,077		—
USD	134,579,335	HKD	1,050,223,487	SSB	06/26/24		78,057		—
Total gross unrealized appreciation/depreciation on Forward Currency Contracts						$	28,882,680	$	433,206

Description	Shares		Fair Value
Lazard Global Strategic Equity Portfolio
Common Stocks \| 97.9%
Australia \| 0.9%
Steadfast Group Ltd.		26,808	$	102,909
Canada \| 4.3%
Canadian Pacific Kansas City Ltd.		1,810		159,587
Toromont Industries Ltd.		1,743		167,731
Trisura Group Ltd. (*)		5,452		167,639
				494,957
Denmark \| 4.3%
Novo Nordisk AS, Class B		3,853		493,554
France \| 1.4%
Pernod Ricard SA		1,009		163,144
Germany \| 5.5%
Continental AG		1,178		85,027
Gerresheimer AG		1,920		216,233
Hensoldt AG		2,107		98,652
MTU Aero Engines AG		708		179,649
Schott Pharma AG & Co. KGaA		1,363		58,235
				637,796
Greece \| 1.0%
National Bank of Greece SA (*)		14,617		114,438
Israel \| 4.1%
Tel Aviv Stock Exchange Ltd.		35,273		238,013
Wix.com Ltd. (*)		1,672		229,867
				467,880
Italy \| 2.7%
BFF Bank SpA		13,979		187,007
Ryanair Holdings PLC ADR		822		119,675
				306,682
Japan \| 9.0%
BayCurrent Consulting, Inc.		5,500		107,849
FANUC Corp.		6,100		170,610
Kadokawa Corp.		8,200		143,877
Mitsubishi Electric Corp.		6,900		115,654
Nippon Sanso Holdings Corp.		6,100		191,498
Renesas Electronics Corp.		10,900		195,092
Zuken, Inc.		3,600		105,640
				1,030,220
Mexico \| 1.3%
Arca Continental SAB de CV		13,600		148,431
Netherlands \| 2.1%
ASML Holding NV		247		237,141

Description	Shares		Fair Value
Norway \| 1.0%
Borregaard ASA		6,669	$	116,221
Sweden \| 1.0%
Munters Group AB		6,193		111,050
Switzerland \| 1.0%
VAT Group AG		229		118,439
Taiwan \| 3.1%
Taiwan Semiconductor Manufacturing Co. Ltd.		15,000		361,409
United Kingdom \| 3.5%
JD Sports Fashion PLC		82,718		140,246
RELX PLC		6,157		266,665
				406,911
United States \| 51.7%
Accenture PLC, Class A		599		207,619
Alphabet, Inc., Class A (*)		3,304		498,673
Amphenol Corp., Class A		2,137		246,503
Analog Devices, Inc.		794		157,045
Applied Materials, Inc.		1,352		278,823
Broadcom, Inc.		159		210,740
Chubb Ltd.		681		176,468
Datadog, Inc., Class A (*)		1,216		150,298
Intercontinental Exchange, Inc.		1,701		233,768
IQVIA Holdings, Inc. (*)		1,368		345,953
Marsh & McLennan Cos., Inc.		1,496		308,146
Microsoft Corp.		1,462		615,093
NVIDIA Corp.		571		515,933
Onto Innovation, Inc. (*)		949		171,845
S&P Global, Inc.		795		338,233
Synopsys, Inc. (*)		338		193,167
Take-Two Interactive Software, Inc. (*)		712		105,725
Thermo Fisher Scientific, Inc.		560		325,478
Titan Cement International SA		4,012		114,944
UnitedHealth Group, Inc.		229		113,286
Verra Mobility Corp. (*)		4,786		119,506
Visa, Inc., A Shares		697		194,519
Watsco, Inc. NA		284		122,679
Zoetis, Inc.		1,185		200,514
				5,944,958
Total Common Stocks (Cost $9,392,092)				11,256,140

Description	Shares		Fair Value
Lazard Global Strategic Equity Portfolio (concluded)
Short-Term Investments \| 2.4%
State Street Institutional Treasury Money Market Fund, Premier Class, 5.24% (7 day yield) (Cost $280,409)		280,409	$	280,409
Total Investments \| 100.3% (Cost $9,672,501)			$	11,536,549
Liabilities in Excess of Cash and Other Assets \| (0.3)%				(38,681)
Net Assets \| 100.0%			$	11,497,868

Description	Shares		Fair Value
Lazard International Equity Advantage Portfolio
Common Stocks \| 96.7%
Australia \| 4.4%
Aristocrat Leisure Ltd.		6,240	$	174,870
BlueScope Steel Ltd.		4,242		66,007
Brambles Ltd.		21,490		226,593
Cettire Ltd. (*)		6,380		16,841
Cochlear Ltd.		379		83,367
Fortescue Ltd.		5,903		98,918
Northern Star Resources Ltd.		5,084		48,527
Perseus Mining Ltd.		56,289		79,738
Qantas Airways Ltd. (*)		17,606		62,597
Ramelius Resources Ltd.		22,504		27,593
Westgold Resources Ltd.		15,515		26,717
				911,768
Austria \| 0.2%
Raiffeisen Bank International AG		2,505		50,028
Belgium \| 0.3%
Colruyt Group NV		1,336		61,617
Brazil \| 0.2%
Cia De Sanena Do Parana		4,100		21,279
Vale SA		1,400		16,980
				38,259
Canada \| 7.9%
Air Canada (*)		2,635		38,147
Brookfield Corp.		1,864		77,997
CGI, Inc. (*)		1,956		215,795
Constellation Software, Inc.		136		371,489
Dollarama, Inc.		3,370		256,728
Fairfax Financial Holdings Ltd.		114		122,883
Kinross Gold Corp.		3,513		21,552
Manulife Financial Corp.		15,013		374,951
Metro, Inc.		594		31,889
Shopify, Inc. Class A (*)		829		63,955
Torex Gold Resources, Inc. (*)		4,481		65,964
Vermilion Energy, Inc.		1,249		15,528
				1,656,878
China \| 8.0%
Alibaba Group Holding Ltd.		18,900		170,569
Alibaba Group Holding Ltd. ADR		590		42,692
Baidu, Inc. ADR (*)		439		46,218
Bank of China Ltd., Class H		190,000		78,480
Beijing Enterprises Holdings Ltd.		5,000		14,511
BYD Co. Ltd., Class H		2,000		51,132
BYD Electronic International Co. Ltd.		4,000		14,771

Description	Shares		Fair Value
China Construction Bank Corp., Class H		65,000	$	39,235
China Longyuan Power Group Corp. Ltd., Class H		150,000		105,578
China Merchants Bank Co. Ltd., Class H		3,500		13,862
China Overseas Property Holdings Ltd.		20,000		11,086
CSPC Pharmaceutical Group Ltd.		58,000		45,695
Haidilao International Holding Ltd.		25,000		56,542
Hisense Home Appliances Group Co. Ltd., Class H		7,000		21,799
JD.com, Inc., Class A		7,050		95,910
KE Holdings, Inc. ADR		1,220		16,751
Kuaishou Technology (*)		2,500		15,695
Kunlun Energy Co. Ltd.		22,000		18,370
Meitu, Inc.		36,000		15,114
Meituan, Class B (*)		2,700		33,354
NetEase, Inc.		7,900		164,177
New Oriental Education & Technology Group, Inc. ADR (*)		274		23,789
PDD Holdings, Inc., ADR (*)		510		59,287
PetroChina Co. Ltd., Class H		92,000		78,695
PICC Property & Casualty Co. Ltd., Class H		16,000		21,098
Sinopharm Group Co. Ltd., Class H		5,200		13,338
Sunny Optical Technology Group Co. Ltd.		2,000		10,229
Tencent Holdings Ltd.		5,400		210,733
Tencent Music Entertainment Group ADR (*)		4,878		54,585
Vipshop Holdings Ltd. ADR		2,892		47,863
Xiaomi Corp., Class B (*)		39,600		82,100
				1,673,258
Colombia \| 0.1%
Bancolombia SA ADR		488		16,699
Denmark \| 3.6%
AP Moller - Maersk AS, Class B		8		10,402
Novo Nordisk AS, Class B		5,228		669,685
Pandora AS		429		69,294
				749,381
Finland \| 0.5%
Nordea Bank Abp		9,865		111,472
France \| 6.3%
BNP Paribas SA		2,861		203,612
Capgemini SE		426		98,232
Cie de Saint-Gobain SA		618		47,923
Dassault Systemes SE		669		29,591
Eurazeo SE		1,373		120,274
La Francaise des Jeux SAEM		2,629		107,157
Societe Generale SA		2,582		69,467
Teleperformance SE		687		66,618

Description	Shares		Fair Value
Lazard International Equity Advantage Portfolio (continued)
TotalEnergies SE		594	$	40,843
Unibail-Rodamco-Westfield REIT (*)		1,113		89,411
Verallia SA		1,736		67,466
Vinci SA		2,842		364,026
				1,304,620
Germany \| 3.3%
Deutsche Bank AG		11,381		179,014
Infineon Technologies AG		10,538		358,247
Rational AG		17		14,651
SAP SE		326		63,470
Siemens Energy AG (*)		2,760		50,636
TUI AG (*)		3,919		32,280
				698,298
Greece \| 0.4%
National Bank of Greece SA (*)		5,925		46,387
Piraeus Financial Holdings SA (*)		7,252		30,308
				76,695
Hong Kong \| 1.4%
Link REIT		31,500		135,682
Swire Pacific Ltd., Class A		9,500		78,227
United Energy Group Ltd.		184,000		13,168
WH Group Ltd.		90,500		59,725
				286,802
India \| 4.4%
Dr Reddy’s Laboratories Ltd. ADR		4,872		357,361
GAIL India Ltd. GDR		2,413		31,128
Larsen & Toubro Ltd. GDR		647		29,309
Mahindra & Mahindra Ltd. GDR		1,064		24,791
Reliance Industries Ltd. GDR		602		42,983
State Bank of India GDR		4,687		425,111
				910,683
Indonesia \| 0.8%
Bank Mandiri Persero Tbk. PT ADR		7,116		128,515
Bank Rakyat Indonesia Persero Tbk. PT ADR		1,138		21,815
First Resources Ltd.		12,500		12,685
				163,015
Ireland \| 0.5%
AerCap Holdings NV (*)		1,139		98,991
Israel \| 0.1%
Check Point Software Technologies Ltd. (*)		141		23,125
Italy \| 3.0%
Buzzi SpA		636		24,976
Ferrari NV		690		300,740

Description	Shares		Fair Value
Telecom Italia SpA (*)		119,503	$	28,929
UniCredit SpA		6,950		263,742
				618,387
Japan \| 15.3%
ANA Holdings, Inc.		2,200		45,935
Anycolor, Inc. (*)		900		15,422
Bandai Namco Holdings, Inc.		600		11,108
Chugai Pharmaceutical Co. Ltd.		3,200		122,308
Daiwa Securities Group, Inc.		16,000		121,764
East Japan Railway Co.		900		17,256
GS Yuasa Corp.		1,100		22,874
Hachijuni Bank Ltd.		3,100		20,910
Honda Motor Co. Ltd.		15,800		195,413
Hyakugo Bank Ltd.		5,200		22,016
Japan Post Bank Co. Ltd.		1,200		12,913
Japan Post Holdings Co. Ltd.		34,000		342,248
Japan Tobacco, Inc.		10,400		277,241
Kansai Paint Co. Ltd.		3,500		50,138
Mitsui & Co. Ltd.		400		18,689
Mizuho Financial Group, Inc.		16,200		320,535
NGK Insulators Ltd.		5,400		72,503
NIDEC Corp.		5,200		214,647
NSK Ltd.		3,200		18,239
Ono Pharmaceutical Co. Ltd.		6,000		98,338
ORIX Corp.		4,200		91,830
Otsuka Holdings Co. Ltd.		3,300		136,859
Panasonic Holdings Corp.		35,800		341,553
Sankyo Co. Ltd.		6,100		66,600
Sega Sammy Holdings, Inc.		1,200		14,841
Shin-Etsu Chemical Co. Ltd.		965		42,340
SKY Perfect JSAT Holdings, Inc.		1,900		12,966
SoftBank Corp.		5,400		69,350
Subaru Corp.		1,800		40,968
Takara Holdings, Inc.		2,100		15,103
Tokyo Electron Ltd. ADR		261		33,912
Tokyo Kiraboshi Financial Group, Inc.		800		24,794
Tokyu Fudosan Holdings Corp.		4,500		36,368
Toyota Motor Corp.		9,700		243,820
				3,191,801
Malaysia \| 0.1%
IJM Corp. Bhd.		44,200		22,628
Mexico \| 0.8%
Arca Continental SAB de CV		3,800		41,473
Coca-Cola Femsa SAB de CV ADR		662		64,347
Fibra Uno Administracion SA de CV REIT		13,300		22,174

Description	Shares		Fair Value
Lazard International Equity Advantage Portfolio (continued)
Kimberly-Clark de Mexico SAB de CV, Class A		16,200	$	39,046
				167,040
Netherlands \| 4.9%
ASML Holding NV		598		574,130
EXOR NV		194		21,560
NN Group NV		311		14,386
Shell PLC		3,941		130,757
Wolters Kluwer NV		1,818		284,714
				1,025,547
Philippines \| 0.3%
International Container Terminal Services, Inc.		9,710		55,727
Poland \| 0.3%
ORLEN SA		3,584		58,355
Portugal \| 0.3%
Jeronimo Martins SGPS SA		770		15,278
Mota-Engil SGPS SA		8,247		42,805
				58,083
Saudi Arabia \| 0.5%
Arabian Internet & Communications Services Co.		427		43,061
Elm Co.		80		20,456
Riyadh Cables Group Co.		768		20,685
Saudi Chemical Co. Holding		16,275		30,404
				114,606
Singapore \| 1.7%
Sembcorp Industries Ltd.		7,800		31,204
Singapore Airlines Ltd.		20,700		98,229
STMicroelectronics NV		5,040		216,953
				346,386
South Africa \| 0.7%
Gold Fields Ltd. ADR		3,221		51,182
Harmony Gold Mining Co. Ltd. ADR		6,397		52,263
Momentum Metropolitan Holdings		15,564		16,716
Sappi Ltd.		8,562		22,714
				142,875
South Korea \| 3.7%
DB Insurance Co. Ltd.		639		45,778
Doosan Bobcat, Inc.		2,207		88,563
Hanmi Pharm Co. Ltd.		80		20,326
Hyundai Rotem Co. Ltd.		648		16,561
KB Financial Group, Inc.		946		49,209
Kia Corp.		2,825		235,049

Description	Shares		Fair Value
Samsung Electronics Co. Ltd.		4,992	$	298,895
Samsung Life Insurance Co. Ltd.		256		18,164
				772,545
Spain \| 1.0%
Acciona SA		519		63,197
Banco Bilbao Vizcaya Argentaria SA		6,403		76,279
Banco Santander SA		13,476		65,847
				205,323
Sweden \| 1.3%
Betsson AB, Class B		4,910		48,544
Boliden AB		1,030		28,536
Fastighets AB Balder, B Shares (*)		15,414		113,057
Hemnet Group AB		639		19,546
SKF AB, B Shares		1,775		36,180
Volvo AB, B Shares		1,280		34,666
				280,529
Switzerland \| 3.5%
ABB Ltd.		7,717		358,167
Givaudan SA		32		142,977
Logitech International SA		2,075		185,685
UBS Group AG		1,498		46,039
				732,868
Taiwan \| 5.0%
Accton Technology Corp.		4,000		57,317
Asia Vital Components Co. Ltd.		2,000		33,969
Chicony Electronics Co. Ltd.		6,000		41,554
Delta Electronics, Inc.		17,000		182,139
Fortune Electric Co. Ltd.		1,000		20,940
Grape King Bio Ltd.		6,000		30,282
Hon Hai Precision Industry Co. Ltd.		17,000		82,605
International Games System Co. Ltd.		2,000		70,316
MediaTek, Inc.		6,000		217,964
Taiwan Semiconductor Manufacturing Co. Ltd.		13,000		313,221
				1,050,307
Thailand \| 0.4%
Bumrungrad Hospital PCL (‡)		10,800		66,006
PTT Exploration & Production PCL		4,400		18,089
				84,095
Turkey \| 0.2%
Haci Omer Sabanci Holding AS ADR (#), (‡)		35,538		16,703
Turkcell Iletisim Hizmetleri AS ADR		6,484		33,652
				50,355
United Kingdom \| 6.8%
3i Group PLC		2,338		82,821

Description	Shares		Fair Value
Lazard International Equity Advantage Portfolio (concluded)
AstraZeneca PLC ADR		598	$	40,514
BAE Systems PLC		3,378		57,538
Barclays PLC		79,346		184,381
BP PLC		4,076		25,611
Britvic PLC		1,136		11,775
Compass Group PLC		1,052		30,831
Darktrace PLC (*)		4,353		23,987
Global Ship Lease, Inc., Class A		996		20,219
HSBC Holdings PLC		9,173		71,701
IG Group Holdings PLC		2,320		21,364
International Consolidated Airlines Group SA (*)		50,637		113,104
Investec PLC		4,192		28,086
J Sainsbury PLC		5,389		18,417
Johnson Service Group PLC		23,955		39,718
Man Group PLC		4,559		15,408
Marks & Spencer Group PLC		19,090		63,982
NatWest Group PLC		25,081		83,995
RELX PLC		1,302		56,258
Rolls-Royce Holdings PLC (*)		24,372		131,068
Standard Chartered PLC		19,527		165,478
Tesco PLC		14,789		55,342
Virgin Money UK PLC		17,287		46,779
Vodafone Group PLC		33,630		29,776
				1,418,153
United States \| 4.5%
Experian PLC		1,942		84,780
GSK PLC		22,240		477,647
Roche Holding AG		1,094		279,273
Stellantis NV		3,131		88,841
				930,541
Total Common Stocks (Cost $18,618,050)				20,157,740
Preferred Stocks \| 2.7%
Brazil \| 1.2%
Azul SA		7,000		18,200
Petroleo Brasileiro SA		31,300		233,155
				251,355
Germany \| 1.5%
Bayerische Motoren Werke AG		2,984		319,960
Total Preferred Stocks (Cost $543,139)				571,315

Description	Shares		Fair Value
Warrants \| 0.0%
Canada \| 0.0%
Constellation Software, Inc. Expires 03/31/40 (*), (¢) (Cost $0)		26	$	0
Short-Term Investments \| 0.2%
State Street Institutional Treasury Money Market Fund, Premier Class, 5.24% (7 day yield) (Cost $37,884)		37,884		37,884
Total Investments \| 99.6% (Cost $19,199,073)			$	20,766,939
Cash and Other Assets in Excess of Liabilities \| 0.4%				81,063
Net Assets \| 100.0%			$	20,848,002

Description	Shares		Fair Value
Lazard International Equity Portfolio
Common Stocks \| 93.7%
Belgium \| 1.2%
KBC Group NV		190,135	$	14,286,048
Canada \| 3.0%
Gildan Activewear, Inc.		441,826		16,397,027
Suncor Energy, Inc.		531,059		19,598,863
				35,995,890
China \| 3.4%
Autohome, Inc. ADR		264,119		6,925,200
ESR Group Ltd.		4,354,800		4,664,235
Li Ning Co. Ltd.		3,338,500		8,880,897
Sungrow Power Supply Co. Ltd., Class A		518,400		7,405,125
Tencent Holdings Ltd.		322,200		12,573,755
				40,449,212
Denmark \| 0.9%
Carlsberg AS, Class B		78,188		10,712,775
Finland \| 1.7%
Fortum OYJ		847,768		10,462,894
Nordea Bank Abp		919,498		10,241,692
				20,704,586
France \| 11.7%
Air Liquide SA		100,182		20,878,025
Airbus SE		101,180		18,663,264
Bureau Veritas SA		524,909		15,999,438
Capgemini SE		75,687		17,452,872
Engie SA		1,136,585		19,100,041
Orange SA		1,371,339		16,110,004
Pernod Ricard SA		87,818		14,199,227
Thales SA		103,519		17,647,566
				140,050,437
Germany \| 9.9%
Continental AG		227,480		16,419,400
Merck KGaA		118,651		20,940,501
MTU Aero Engines AG		50,352		12,776,415
Rheinmetall AG		35,156		19,757,410
SAP SE		114,722		22,335,587
Siemens AG		46,346		8,847,686
Siemens Healthineers AG		283,963		17,377,202
				118,454,201
Greece \| 1.0%
National Bank of Greece SA (*)		1,457,563		11,411,402
Hong Kong \| 1.8%
AIA Group Ltd.		1,388,600		9,318,881

Description	Shares		Fair Value
Techtronic Industries Co. Ltd.		873,500	$	11,842,590
				21,161,471
Israel \| 0.9%
Wix.com Ltd. (*)		80,420		11,056,142
Italy \| 3.1%
Ryanair Holdings PLC ADR		166,208		24,198,223
UniCredit SpA		350,615		13,305,329
				37,503,552
Japan \| 16.1%
Asics Corp.		340,100		16,061,733
Bandai Namco Holdings, Inc.		453,700		8,399,553
BayCurrent Consulting, Inc.		301,500		5,912,065
FANUC Corp.		569,400		15,925,501
Hitachi Ltd.		186,600		17,043,992
Kokusai Electric Corp.		430,500		11,048,118
MatsukiyoCocokara & Co.		1,170,400		18,798,515
Nippon Sanso Holdings Corp.		507,100		15,919,416
Nitori Holdings Co. Ltd.		102,900		15,511,330
Recruit Holdings Co. Ltd.		263,600		11,612,124
Renesas Electronics Corp.		1,060,003		18,972,306
Shimadzu Corp.		381,100		10,628,469
Suzuki Motor Corp.		1,490,700		17,004,783
ZOZO, Inc.		416,000		10,323,710
				193,161,615
Mexico \| 1.1%
Arca Continental SAB de CV		1,232,912		13,456,059
Netherlands \| 3.6%
Akzo Nobel NV		134,808		10,054,853
ING Groep NV		1,156,059		19,039,252
Universal Music Group NV		461,321		13,871,341
				42,965,446
Singapore \| 1.9%
DBS Group Holdings Ltd.		496,720		13,285,864
STMicroelectronics NV		226,355		9,753,312
				23,039,176
South Korea \| 1.3%
Samsung Electronics Co. Ltd.		252,180		15,099,234
Spain \| 1.5%
Industria de Diseno Textil SA		352,779		17,764,829
Sweden \| 1.7%
Sandvik AB		899,767		19,964,108
Switzerland \| 2.7%
ABB Ltd.		396,423		18,399,057

Description	Shares		Fair Value
Lazard International Equity Portfolio (concluded)
Cie Financiere Richemont SA, Class A		89,848	$	13,744,428
				32,143,485
Taiwan \| 1.8%
Taiwan Semiconductor Manufacturing Co. Ltd. ADR		157,674		21,451,548
United Kingdom \| 15.2%
3i Group PLC		492,711		17,453,762
AstraZeneca PLC		92,411		12,442,317
BP PLC		3,406,192		21,402,245
Coca-Cola Europacific Partners PLC		186,220		13,153,187
Compass Group PLC		633,092		18,554,073
London Stock Exchange Group PLC		121,736		14,581,384
RELX PLC		938,425		40,548,453
Rentokil Initial PLC		2,040,946		12,179,751
Unilever PLC		473,476		23,776,143
WPP PLC		841,400		7,962,755
				182,054,070
United States \| 8.2%
Aon PLC, Class A		52,146		17,402,163
Chubb Ltd.		29,710		7,698,752
CRH PLC		101,351		8,742,537
Experian PLC		300,698		13,127,282
ICON PLC (*)		78,605		26,407,350
Roche Holding AG		99,331		25,356,904
				98,734,988
Total Common Stocks (Cost $897,589,366)				1,121,620,274
Preferred Stocks \| 2.6%
Brazil \| 1.2%
Itau Unibanco Holding SA		2,020,900		13,957,805
Germany \| 1.4%
Henkel AG & Co. KGaA		214,454		17,235,095
Total Preferred Stocks (Cost $27,131,352)				31,192,900
Short-Term Investments \| 1.4%
State Street Institutional Treasury Money Market Fund, Premier Class, 5.24% (7 day yield) (Cost $16,228,140)		16,228,140		16,228,140

Description	Fair Value
Total Investments \| 97.7% (Cost $940,948,858)	$	1,169,041,314
Cash and Other Assets in Excess of Liabilities \| 2.3%		27,437,395
Net Assets \| 100.0%	$	1,196,478,709

Description	Shares		Fair Value
Lazard International Equity Select Portfolio
Common Stocks \| 94.9%
Belgium \| 1.3%
KBC Group NV		10,209	$	767,067
Canada \| 1.5%
Suncor Energy, Inc.		22,975		847,898
China \| 6.5%
Alibaba Group Holding Ltd.		60,500		546,001
Autohome, Inc. ADR		10,704		280,659
ENN Energy Holdings Ltd.		72,700		561,386
ESR Group Ltd.		184,800		197,931
Li Ning Co. Ltd.		120,500		320,548
Sungrow Power Supply Co. Ltd., Class A		47,200		674,232
Tencent Holdings Ltd.		28,900		1,127,813
				3,708,570
Denmark \| 3.6%
Carlsberg AS, Class B		4,330		593,266
Novo Nordisk AS, Class B		11,485		1,471,182
				2,064,448
Finland \| 1.1%
Sampo OYJ, A Shares		15,124		644,752
France \| 10.7%
Air Liquide SA		5,070		1,056,593
Airbus SE		6,931		1,278,465
Bureau Veritas SA		28,520		869,301
Capgemini SE		3,369		776,867
Engie SA		50,249		844,423
Pernod Ricard SA		3,838		620,563
Thales SA		4,220		719,411
				6,165,623
Germany \| 8.0%
Continental AG		9,236		666,650
Covestro AG (*)		10,121		553,683
Merck KGaA		3,744		660,772
MTU Aero Engines AG		2,324		589,696
SAP SE		4,624		900,261
Siemens AG		2,346		447,864
Siemens Healthineers AG		12,390		758,210
				4,577,136
Greece \| 0.8%
Piraeus Financial Holdings SA (*)		102,399		427,952
Hong Kong \| 1.9%
AIA Group Ltd.		78,800		528,826

Description	Shares		Fair Value
Techtronic Industries Co. Ltd.		42,500	$	576,199
				1,105,025
India \| 1.5%
ICICI Bank Ltd. ADR		32,639		861,996
Indonesia \| 2.5%
Bank Mandiri Persero Tbk PT		2,109,800		965,881
Telkom Indonesia Persero Tbk PT ADR		21,972		489,097
				1,454,978
Italy \| 2.7%
Ryanair Holdings PLC ADR		10,766		1,567,422
Japan \| 11.1%
Daikin Industries Ltd.		2,600		355,654
FANUC Corp.		28,000		783,129
Hoya Corp.		6,100		763,610
Nitori Holdings Co. Ltd.		2,600		391,929
Nomura Research Institute Ltd.		31,300		883,461
Recruit Holdings Co. Ltd.		12,900		568,272
Renesas Electronics Corp.		39,200		701,615
Shin-Etsu Chemical Co. Ltd.		14,700		644,976
Suzuki Motor Corp.		40,800		465,416
Tokyo Electron Ltd.		3,000		786,748
				6,344,810
Mexico \| 2.0%
Grupo Financiero Banorte SAB de CV, Class O		107,400		1,153,813
Netherlands \| 6.4%
Akzo Nobel NV		6,646		495,702
ASM International NV		1,724		1,050,270
IMCD NV		3,762		663,008
ING Groep NV		49,897		821,759
Universal Music Group NV		21,164		636,375
				3,667,114
Singapore \| 1.8%
DBS Group Holdings Ltd.		21,400		572,390
STMicroelectronics NV		11,235		484,100
				1,056,490
South Korea \| 1.0%
Samsung Electronics Co. Ltd.		9,286		555,998
Sweden \| 1.0%
Epiroc AB, Class A		30,052		566,646
Switzerland \| 3.7%
ABB Ltd.		18,788		872,002
Cie Financiere Richemont SA, Class A		6,272		959,454

Description	Shares		Fair Value
Lazard International Equity Select Portfolio (concluded)
VAT Group AG		557	$	288,081
				2,119,537
Taiwan \| 3.9%
Taiwan Semiconductor Manufacturing Co. Ltd.		94,000		2,264,830
United Kingdom \| 13.2%
BP PLC		283,322		1,780,207
Coca-Cola Europacific Partners PLC		9,022		637,246
Compass Group PLC		45,955		1,346,806
London Stock Exchange Group PLC		5,352		641,056
RELX PLC		37,144		1,604,957
Rentokil Initial PLC		81,866		488,552
Unilever PLC		21,887		1,099,081
				7,597,905
United States \| 8.7%
Aon PLC, Class A		3,539		1,181,035
Chubb Ltd.		2,836		734,893
CRH PLC		5,125		442,082
Experian PLC		14,682		640,958
ICON PLC (*)		2,933		985,341
Roche Holding AG		3,860		985,369
				4,969,678
Total Common Stocks (Cost $45,024,240)				54,489,688
Preferred Stocks \| 2.1%
Brazil \| 1.2%
Itau Unibanco Holding SA		103,600		715,537
Germany \| 0.9%
Henkel AG & Co. KGaA		6,159		494,982
Total Preferred Stocks (Cost $946,000)				1,210,519
Short-Term Investments \| 3.1%
State Street Institutional Treasury Money Market Fund, Premier Class, 5.24% (7 day yield) (Cost $1,799,481)		1,799,481		1,799,481
Total Investments \| 100.1% (Cost $47,769,721)			$	57,499,688
Liabilities in Excess of Cash and Other Assets \| (0.1)%				(56,745)
Net Assets \| 100.0%			$	57,442,943

Description	Shares		Fair Value
Lazard International Quality Growth Portfolio
Common Stocks \| 94.8%
Australia \| 1.5%
Computershare Ltd.		252,851	$	4,302,933
Canada \| 7.4%
Dollarama, Inc.		109,170		8,316,601
National Bank of Canada		76,291		6,424,090
Toromont Industries Ltd.		63,739		6,133,682
				20,874,373
China \| 1.8%
Tencent Holdings Ltd.		129,100		5,038,088
Denmark \| 2.0%
Coloplast AS, Class B		41,963		5,679,158
France \| 7.5%
Legrand SA		53,361		5,645,484
LVMH Moet Hennessy Louis Vuitton SE		11,099		10,038,348
Pernod Ricard SA		32,890		5,317,960
				21,001,792
Germany \| 5.1%
SAP SE		47,857		9,317,430
Scout24 SE		67,490		5,086,902
				14,404,332
Hong Kong \| 1.1%
AIA Group Ltd.		477,000		3,201,142
India \| 2.5%
HDFC Bank Ltd. ADR		123,955		6,937,761
Israel \| 2.5%
Check Point Software Technologies Ltd. (*)		42,809		7,021,104
Japan \| 9.6%
Hoya Corp.		44,900		5,620,670
Keyence Corp.		12,400		5,765,992
M3, Inc.		408,000		5,879,617
Pigeon Corp.		88,500		852,829
Shimano, Inc.		15,600		2,329,452
SMS Co. Ltd.		252,600		4,333,053
Toei Animation Co. Ltd.		108,500		2,179,380
				26,960,993
Netherlands \| 6.9%
ASML Holding NV		8,091		7,768,030
Universal Music Group NV		199,506		5,998,894
Wolters Kluwer NV		35,511		5,561,328
				19,328,252
Norway \| 2.0%
AutoStore Holdings Ltd. (*)		960,275		1,771,775

Description	Shares		Fair Value
Gjensidige Forsikring ASA		259,912	$	3,772,613
				5,544,388
South Africa \| 2.2%
Clicks Group Ltd.		405,372		6,342,820
Spain \| 2.8%
Industria de Diseno Textil SA		158,363		7,974,658
Sweden \| 4.3%
Assa Abloy AB, Class B		235,526		6,756,013
Hexagon AB, B Shares		450,182		5,328,833
				12,084,846
Switzerland \| 5.4%
Partners Group Holding AG		6,683		9,549,746
VAT Group AG		10,978		5,677,839
				15,227,585
Taiwan \| 4.9%
Lotes Co. Ltd.		144,000		6,250,975
Taiwan Semiconductor Manufacturing Co. Ltd. ADR		56,260		7,654,173
				13,905,148
United Kingdom \| 15.0%
Allfunds Group PLC		212,748		1,538,483
Diageo PLC		143,329		5,293,228
Diploma PLC		81,888		3,852,402
Halma PLC		286,853		8,571,320
London Stock Exchange Group PLC		70,572		8,453,025
RELX PLC		186,021		8,056,734
Unilever PLC		128,579		6,453,258
				42,218,450
United States \| 10.3%
Accenture PLC, Class A		24,500		8,491,945
Aon PLC, Class A		31,047		10,361,005
BRP, Inc.		58,063		3,898,586
Experian PLC		144,313		6,300,133
				29,051,669
Total Common Stocks (Cost $242,115,419)				267,099,492
Preferred Stocks \| 2.2%
Germany \| 2.2%
Sartorius AG (Cost $5,714,855)		15,027		5,976,349

Description	Shares		Fair Value
Lazard International Quality Growth Portfolio (concluded)
Short-Term Investments \| 3.0%
State Street Institutional Treasury Money Market Fund, Premier Class, 5.24% (7 day yield) (Cost $8,515,541)		8,515,541	$	8,515,541
Total Investments \| 100.0% (Cost $256,345,815)			$	281,591,382
Cash and Other Assets in Excess of Liabilities \| 0.0%				130,629
Net Assets \| 100.0%			$	281,722,011

Description	Shares		Fair Value
Lazard International Small Cap Equity Portfolio
Common Stocks \| 97.3%
Australia \| 5.7%
ALS Ltd.		12,799	$	109,812
AUB Group Ltd.		8,413		163,266
GUD Holdings Ltd.		19,092		146,835
National Storage REIT		57,873		90,747
SmartGroup Corp. Ltd.		23,200		147,067
				657,727
Austria \| 1.9%
BAWAG Group AG		3,095		196,155
Schoeller-Bleckmann Oilfield Equipment AG		505		24,202
				220,357
Belgium \| 2.1%
Azelis Group NV		4,804		101,426
Shurgard Self Storage Ltd. REIT		3,301		147,306
				248,732
Canada \| 5.5%
Descartes Systems Group, Inc. (*)		1,014		92,750
Dream Industrial REIT		11,177		108,754
Spin Master Corp.		5,832		149,228
Stelco Holdings, Inc.		2,608		86,006
Toromont Industries Ltd.		880		84,683
Trisura Group Ltd. (*)		3,941		121,179
				642,600
Denmark \| 0.6%
Zealand Pharma AS (*)		732		72,617
Finland \| 1.2%
Kemira OYJ		7,211		136,245
France \| 6.2%
Gaztransport Et Technigaz SA		1,099		164,380
Remy Cointreau SA		2,246		226,215
SEB SA		1,071		137,353
SOITEC (*)		694		71,771
Technip Energies NV		4,745		120,129
				719,848
Germany \| 7.9%
Covestro AG (*)		2,241		122,597
CTS Eventim AG & Co. KGaA		1,349		119,988
Gerresheimer AG		1,119		126,023
Hensoldt AG		3,084		144,396
JOST Werke SE		2,372		121,812
Sirius Real Estate Ltd.		146,543		181,170

Description	Shares		Fair Value
Stabilus SE		1,590	$	101,176
				917,162
Greece \| 2.7%
Jumbo SA		7,081		203,903
National Bank of Greece SA (*)		14,340		112,269
				316,172
Italy \| 8.0%
BFF Bank SpA		6,860		91,771
Italgas SpA		33,077		192,700
OVS SpA		36,947		97,100
Sanlorenzo SpA		3,556		161,704
Sesa SpA		1,251		138,338
SOL SpA		3,730		133,399
Tinexta SpA		5,356		109,812
				924,824
Japan \| 28.2%
Ai Holdings Corp.		6,700		107,819
BayCurrent Consulting, Inc.		4,100		80,396
Bell System24 Holdings, Inc.		17,300		178,879
GMO internet group, Inc.		5,400		97,774
Hulic Co. Ltd.		15,100		155,026
Koito Manufacturing Co. Ltd.		6,600		88,880
MatsukiyoCocokara & Co.		6,900		110,825
MINEBEA MITSUMI, Inc.		7,000		137,217
Money Forward, Inc. (*)		4,400		195,454
Nihon Kohden Corp.		6,200		164,193
Nippon Gas Co. Ltd.		10,800		181,499
Nippon Sanso Holdings Corp.		5,200		163,244
Open Up Group, Inc.		6,700		93,255
Sanken Electric Co. Ltd.		3,300		144,792
SBI Sumishin Net Bank Ltd.		10,400		151,595
Shimadzu Corp.		5,200		145,022
Sumitomo Forestry Co. Ltd.		3,800		119,560
TechnoPro Holdings, Inc.		5,935		118,604
Tokyo Century Corp.		12,900		134,133
Toyo Suisan Kaisha Ltd.		2,500		153,232
Trend Micro, Inc.		1,600		81,381
Trusco Nakayama Corp.		5,900		99,897
USS Co. Ltd.		14,800		122,331
Zenkoku Hosho Co. Ltd.		4,142		148,235
ZOZO, Inc.		4,700		116,638
				3,289,881
Jersey \| 1.9%
JTC PLC		21,468		222,460

Description	Shares		Fair Value
Lazard International Small Cap Equity Portfolio (concluded)
Mexico \| 1.1%
Arca Continental SAB de CV		12,000	$	130,969
Netherlands \| 3.7%
Aalberts NV		2,691		129,256
Arcadis NV		3,130		191,531
CTP NV		6,397		113,933
				434,720
Sweden \| 2.5%
Lindab International AB		3,822		81,971
Munters Group AB		5,814		104,254
Swedish Orphan Biovitrum AB (*)		4,162		103,811
				290,036
Switzerland \| 2.5%
Emmi AG		86		85,336
Swissquote Group Holding SA		411		115,382
Tecan Group AG		220		91,087
				291,805
United Kingdom \| 14.6%
Allfunds Group PLC		14,873		107,554
Alphawave IP Group PLC (*)		46,437		102,718
Auto Trader Group PLC		15,365		135,683
Britvic PLC		9,958		103,220
ConvaTec Group PLC		47,468		171,486
Dowlais Group PLC		96,252		94,739
Genuit Group. PLC		27,503		152,950
GlobalData PLC		61,492		141,247
JET2 PLC		7,441		135,360
Life Science REIT PLC		106,205		52,731
Marlowe PLC (*)		11,978		78,615
Urban Logistics REIT PLC		109,794		158,755
Volution Group PLC		23,770		130,533
Weir Group PLC		5,463		139,399
				1,704,990
United States \| 1.0%
Samsonite International SA (*)		31,800		120,394
Total Common Stocks (Cost $10,985,245)				11,341,539
Short-Term Investments \| 2.1%
State Street Institutional Treasury Money Market Fund, Premier Class, 5.24% (7 day yield) (Cost $249,675)		249,675		249,675

Description	Fair Value
Total Investments \| 99.4% (Cost $11,234,920)	$	11,591,214
Cash and Other Assets in Excess of Liabilities \| 0.6%		65,380
Net Assets \| 100.0%	$	11,656,594

Description	Shares		Fair Value
Lazard International Strategic Equity Portfolio
Common Stocks \| 97.1%
Belgium \| 1.3%
KBC Group NV		710,905	$	53,414,800
Canada \| 4.9%
Canadian Pacific Kansas City Ltd.		943,409		83,179,903
National Bank of Canada		489,169		41,190,518
Suncor Energy, Inc.		2,103,629		77,634,944
				202,005,365
Denmark \| 7.0%
Carlsberg AS, Class B		643,817		88,211,323
Novo Nordisk AS, Class B		1,547,212		198,191,549
				286,402,872
Finland \| 1.9%
Sampo OYJ, A Shares		1,856,060		79,125,790
France \| 5.7%
Airbus SE		614,095		113,273,540
Engie SA		3,587,690		60,290,279
Pernod Ricard SA		381,116		61,622,364
				235,186,183
Germany \| 10.3%
Continental AG		801,172		57,828,220
Douglas AG		1,400,671		32,277,390
Gerresheimer AG		378,387		42,614,409
Merck KGaA		504,706		89,074,651
MTU Aero Engines AG		255,345		64,791,737
Schott Pharma AG & Co. KGaA		888,344		37,954,742
Siemens AG		527,375		100,678,561
				425,219,710
Greece \| 1.3%
Piraeus Financial Holdings SA (*)		12,990,563		54,290,934
India \| 0.9%
HDFC Bank Ltd.		2,154,431		37,481,729
Israel \| 3.0%
Bank Leumi Le-Israel BM		9,505,871		78,961,305
Wix.com Ltd. (*)		312,903		43,017,904
				121,979,209
Italy \| 4.7%
BFF Bank SpA		2,356,855		31,529,391
Ryanair Holdings PLC ADR		666,530		97,040,103
UniCredit SpA		1,671,754		63,440,632
				192,010,126
Japan \| 12.7%
BayCurrent Consulting, Inc.		1,614,500		31,658,471

Description	Shares		Fair Value
Daikin Industries Ltd.		327,000	$	44,730,305
FANUC Corp.		2,053,800		57,442,559
Hoya Corp.		649,200		81,268,125
Kobe Bussan Co. Ltd.		1,378,800		33,772,648
Koito Manufacturing Co. Ltd.		2,270,700		30,578,663
Renesas Electronics Corp.		3,593,700		64,321,304
Shimadzu Corp.		645,300		17,996,722
Suzuki Motor Corp.		3,713,888		42,365,237
Tokyo Electron Ltd.		331,700		86,988,137
Ulvac, Inc.		455,900		29,391,478
				520,513,649
Mexico \| 1.9%
Arca Continental SAB de CV		7,108,400		77,581,407
Netherlands \| 3.4%
ASML Holding NV		146,267		140,428,441
Portugal \| 1.1%
EDP - Energias de Portugal SA		11,381,897		44,402,774
Singapore \| 1.3%
STMicroelectronics NV		1,292,608		55,696,625
South Korea \| 1.4%
Samsung Electronics Co. Ltd.		987,001		59,096,513
Sweden \| 1.7%
Hexagon AB, B Shares		5,907,358		69,925,771
Switzerland \| 1.9%
ABB Ltd.		1,716,165		79,651,831
Taiwan \| 2.5%
Taiwan Semiconductor Manufacturing Co. Ltd.		4,263,000		102,712,431
United Kingdom \| 15.6%
Allfunds Group PLC		4,659,163		33,692,645
Ashtead Group PLC		576,039		40,945,487
Coca-Cola Europacific Partners PLC		1,276,006		90,127,514
Compass Group PLC		3,032,042		88,860,274
Informa PLC		5,608,397		58,799,795
London Stock Exchange Group PLC		634,605		76,012,182
RELX PLC		3,851,730		166,429,594
Weir Group PLC		1,716,768		43,806,713
WPP PLC		4,314,663		40,832,665
				639,506,869
United States \| 12.6%
Accenture PLC, Class A		236,911		82,115,722
Aon PLC, Class A		322,071		107,481,534
Chubb Ltd.		314,849		81,586,821
CRH PLC		803,527		69,312,239

Description	Shares		Fair Value
Lazard International Strategic Equity Portfolio (concluded)
Experian PLC		1,312,611	$	57,303,390
ICON PLC (*)		359,731		120,851,630
				518,651,336
Total Common Stocks (Cost $2,996,936,250)				3,995,284,365
Short-Term Investments \| 2.8%
State Street Institutional Treasury Money Market Fund, Premier Class, 5.24% (7 day yield) (Cost $113,361,409)		113,361,409		113,361,409
Total Investments \| 99.9% (Cost $3,110,297,659)			$	4,108,645,774
Cash and Other Assets in Excess of Liabilities \| 0.1%				2,525,772
Net Assets \| 100.0%			$	4,111,171,546

Description	Shares		Fair Value
Lazard Managed Equity Volatility Portfolio
Common Stocks \| 99.3%
Australia \| 2.1%
Brambles Ltd.		9,165	$	96,637
Coles Group Ltd.		9,178		101,514
Telstra Group Ltd.		59,729		150,365
Woolworths Group Ltd.		1,816		39,256
				387,772
Austria \| 0.2%
CA Immobilien Anlagen AG		1,016		35,897
Bermuda \| 0.4%
Fidelis Insurance Holdings Ltd.		1,314		25,597
RenaissanceRe Holdings Ltd.		212		49,826
				75,423
Canada \| 4.4%
CGI, Inc. (*)		1,242		137,023
Dollarama, Inc.		611		46,546
Fairfax Financial Holdings Ltd.		78		84,078
Hydro One Ltd.		1,229		35,839
Loblaw Cos. Ltd.		1,471		163,004
Manulife Financial Corp.		2,125		53,072
Metro, Inc.		4,261		228,755
Teekay Tankers Ltd., Class A		730		42,639
				790,956
China \| 0.4%
BOC Hong Kong Holdings Ltd.		14,500		38,855
Wilmar International Ltd.		14,700		37,291
				76,146
Denmark \| 1.1%
Novo Nordisk AS, Class B		1,614		206,747
France \| 1.5%
Cie Generale des Etablissements Michelin SCA		1,576		60,424
Orange SA		17,154		201,519
				261,943
Hong Kong \| 0.4%
WH Group Ltd.		97,000		64,014
Israel \| 0.2%
Bezeq The Israeli Telecommunication Corp. Ltd.		29,994		38,555
Italy \| 0.3%
Banco BPM SpA		7,827		52,083
Japan \| 14.5%
ANA Holdings, Inc.		2,500		52,199

Description	Shares		Fair Value
Central Japan Railway Co.	3,500	$	86,891
Chubu Electric Power Co., Inc.	5,300		69,130
Chugoku Electric Power Co., Inc.	5,900		44,352
East Japan Railway Co.	8,700		166,804
Ezaki Glico Co. Ltd.	1,400		39,028
Hachijuni Bank Ltd.	11,900		80,268
Japan Post Bank Co. Ltd.	5,400		58,109
Japan Post Holdings Co. Ltd.	23,800		239,574
Japan Real Estate Investment Corp. REIT	33		117,656
Japan Tobacco, Inc.	2,100		55,981
KDDI Corp.	2,900		85,747
Kyushu Railway Co.	4,300		98,025
Mizuho Financial Group, Inc.	3,400		67,273
Morinaga Milk Industry Co. Ltd.	2,900		59,284
Nagoya Railroad Co. Ltd.	4,700		65,624
NGK Insulators Ltd.	6,000		80,559
Nissin Foods Holdings Co. Ltd.	2,800		77,198
Nomura Real Estate Master Fund, Inc. REIT	41		40,543
Ono Pharmaceutical Co. Ltd.	5,800		95,060
Oracle Corp.	200		15,134
Osaka Gas Co. Ltd.	10,100		227,475
Otsuka Holdings Co. Ltd.	3,300		136,859
Rengo Co. Ltd.	5,600		42,674
Sankyo Co. Ltd.	5,600		61,141
Sanrio Co. Ltd.	2,200		44,325
Seven & i Holdings Co. Ltd.	2,900		42,212
SoftBank Corp.	3,100		39,812
Sompo Holdings, Inc.	2,700		56,600
Tokyo Gas Co. Ltd.	9,800		223,219
Yamaguchi Financial Group, Inc.	4,300		43,634
			2,612,390
Netherlands \| 1.5%
Koninklijke Ahold Delhaize NV	1,350		40,365
Koninklijke KPN NV	10,369		38,775
Shell PLC	1,138		37,757
Wolters Kluwer NV	1,035		162,090
			278,987
New Zealand \| 0.5%
Spark New Zealand Ltd.	29,104		82,856
Norway \| 0.2%
Orkla ASA	5,768		40,695
Singapore \| 0.4%
Jardine Cycle & Carriage Ltd.	3,600		64,457
Switzerland \| 0.8%
Givaudan SA	19		84,893

Description	Shares		Fair Value
Lazard Managed Equity Volatility Portfolio (continued)
Logitech International SA	764	$	68,368
			153,261
United Kingdom \| 4.9%
AstraZeneca PLC	556		74,860
BAE Systems PLC	8,732		148,732
BP PLC	5,943		37,342
HSBC Holdings PLC	7,428		58,061
RELX PLC	4,238		183,120
Serco Group PLC	21,766		52,176
Standard Chartered PLC	8,609		72,956
Unilever PLC	3,084		154,867
Vodafone Group PLC	62,338		55,194
Yellow Cake PLC (*)	5,304		40,269
			877,577
United States \| 65.5%
Adtalem Global Education, Inc. (*)	616		31,662
Agree Realty Corp. REIT	1,509		86,194
Alkermes PLC (*)	1,469		39,766
Allison Transmission Holdings, Inc.	1,287		104,453
Alphabet, Inc., Class C (*)	986		150,128
Altria Group, Inc.	3,402		148,395
Amdocs Ltd.	1,533		138,537
Ameren Corp.	590		43,636
American Tower Corp. REIT	265		52,361
Aon PLC, Class A	385		128,482
AptarGroup, Inc.	269		38,706
Arcosa, Inc.	322		27,647
Assurant, Inc.	427		80,379
Atlassian Corp., Class A (*)	290		56,582
Atmos Energy Corp.	1,111		132,065
Automatic Data Processing, Inc.	426		106,389
AutoZone, Inc. (*)	16		50,426
Axis Capital Holdings Ltd.	903		58,713
Biogen, Inc. (*)	251		54,123
Boston Scientific Corp. (*)	772		52,874
Brady Corp., Class A	700		41,496
Bristol-Myers Squibb Co.	5,238		284,057
Broadcom, Inc.	40		53,016
Cadence Design Systems, Inc. (*)	137		42,645
Cal-Maine Foods, Inc.	1,947		114,581
Cardinal Health, Inc.	692		77,435
Cboe Global Markets, Inc.	797		146,433
CDW Corp.	466		119,194
Cencora, Inc.	966		234,728
Centene Corp. (*)	861		67,571

Description	Shares		Fair Value
Central Garden & Pet Co., Class A (*)	1,618	$	59,737
Chemed Corp.	139		89,228
Chubb Ltd.	141		36,537
Cigna Group	322		116,947
Cisco Systems, Inc.	2,619		130,714
Clorox Co.	317		48,536
CMS Energy Corp.	738		44,531
Cognizant Technology Solutions Corp., Class A	897		65,741
Colgate-Palmolive Co.	3,072		276,634
Comcast Corp., Class A	2,455		106,424
Comfort Systems USA, Inc.	215		68,308
CommVault Systems, Inc. (*)	759		76,985
Consolidated Edison, Inc.	1,533		139,212
Corebridge Financial, Inc.	1,775		50,996
Coterra Energy, Inc.	1,391		38,781
CSG Systems International, Inc.	330		17,008
CVS Health Corp.	1,727		137,746
Datadog, Inc., Class A (*)	349		43,136
DaVita, Inc. (*)	418		57,705
Deckers Outdoor Corp. (*)	40		37,650
Dell Technologies, Inc., Class C	387		44,161
DocuSign, Inc. (*)	799		47,581
Dropbox, Inc., Class A (*)	1,482		36,013
Electronic Arts, Inc.	1,214		161,061
Elevance Health, Inc.	113		58,595
Eli Lilly & Co.	67		52,123
Enact Holdings, Inc.	1,441		44,930
Entergy Corp.	1,303		137,701
Everest Group Ltd.	168		66,780
Fastenal Co.	938		72,357
Fiserv, Inc. (*)	1,048		167,491
General Mills, Inc.	2,227		155,823
Gilead Sciences, Inc.	3,628		265,751
Globe Life, Inc.	1,183		137,666
GoDaddy, Inc., Class A (*)	475		56,373
GSK PLC	8,070		173,319
Hartford Financial Services Group, Inc.	540		55,647
Humana, Inc.	92		31,898
Huron Consulting Group, Inc. (*)	400		38,648
International Business Machines Corp.	621		118,586
International Seaways, Inc.	1,051		55,913
Johnson & Johnson	526		83,208
Juniper Networks, Inc.	1,447		53,626
Kellanova	874		50,072
Kimberly-Clark Corp.	1,981		256,242
Kroger Co.	1,864		106,490

Description	Shares		Fair Value
Lazard Managed Equity Volatility Portfolio (concluded)
Lantheus Holdings, Inc. (*)	714	$	44,439
Lockheed Martin Corp.	459		208,785
M&T Bank Corp.	344		50,031
Masco Corp.	554		43,700
MasterCard, Inc., Class A	164		78,978
McKesson Corp.	178		95,559
Merck & Co., Inc.	1,781		235,003
Meta Platforms, Inc., Class A	176		85,462
Microsoft Corp.	107		45,017
Molina Healthcare, Inc. (*)	183		75,182
MSC Industrial Direct Co., Inc. Class A	512		49,685
Murphy USA, Inc.	164		68,749
National Fuel Gas Co.	1,182		63,497
National HealthCare Corp.	660		62,377
Neurocrine Biosciences, Inc. (*)	501		69,098
NewMarket Corp.	425		269,714
NiSource, Inc.	3,238		89,563
Northrop Grumman Corp.	132		63,183
NVR, Inc. (*)	5		40,500
PACCAR, Inc.	439		54,388
PepsiCo, Inc.	1,377		240,989
PNM Resources, Inc.	1,042		39,221
Procter & Gamble Co.	1,601		259,762
QUALCOMM, Inc.	535		90,576
Qualys, Inc. (*)	250		41,718
Regeneron Pharmaceuticals, Inc. (*)	141		135,711
RingCentral, Inc., Class A (*)	1,088		37,797
Roche Holding AG	992		253,235
SBA Communications Corp. REIT	461		99,899
Sempra	928		66,658
ServiceNow, Inc. (*)	55		41,932
SLM Corp.	2,136		46,543
Squarespace, Inc., Class A (*)	1,248		45,477
Starbucks Corp.	430		39,298
Super Micro Computer, Inc. (*)	157		158,575
Synopsys, Inc. (*)	107		61,151
TJX Cos., Inc.	1,040		105,477
Tradeweb Markets, Inc., Class A	451		46,981
Travelers Cos., Inc.	177		40,735
United Therapeutics Corp. (*)	124		28,485
UnitedHealth Group, Inc.	249		123,180
Unum Group	870		46,684
Verizon Communications, Inc.	3,594		150,804
Vertex Pharmaceuticals, Inc. (*)	163		68,136
W.R. Berkley Corp.	567		50,146
Walmart, Inc.	3,835		230,752

Description	Shares		Fair Value
Waste Management, Inc.	771	$	164,339
WD-40 Co.	327		82,832
Western Union Co.	3,992		55,808
WK Kellogg Co.	585		10,998
Xcel Energy, Inc.	3,079		165,496
Zoom Video Communications, Inc. Class A (*)	648		42,360
			11,797,950
Total Common Stocks (Cost $16,077,531)			17,897,709
Warrants \| 0.0%
Canada \| 0.0%
Constellation Software, Inc. Expires 03/31/40 (*), (¢) (Cost $0)	22		0
Short-Term Investments \| 0.5%
State Street Institutional Treasury Money Market Fund, Premier Class, 5.24% (7 day yield) (Cost $82,413)	82,413		82,413
Total Investments \| 99.8% (Cost $16,159,944)		$	17,980,122
Cash and Other Assets in Excess of Liabilities \| 0.2%			44,654
Net Assets \| 100.0%		$	18,024,776

Description	Shares		Fair Value
Lazard US Equity Concentrated Portfolio
Common Stocks \| 96.4%
Capital Markets \| 6.8%
S&P Global, Inc.		22,948	$	9,763,227
Commercial Services & Supplies \| 4.7%
Waste Management, Inc.		31,558		6,726,588
Construction Materials \| 3.4%
Vulcan Materials Co.		17,786		4,854,155
Distributors \| 3.9%
LKQ Corp.		103,456		5,525,585
Electrical Equipment \| 2.7%
Rockwell Automation, Inc.		13,196		3,844,391
Entertainment \| 3.6%
Live Nation Entertainment, Inc. (*)		48,958		5,178,288
Financial Services \| 12.4%
Corpay, Inc. (*)		9,981		3,079,538
Fidelity National Information Services, Inc.		101,420		7,523,336
Visa, Inc., A Shares		25,518		7,121,563
				17,724,437
Health Care Providers & Services \| 11.3%
Laboratory Corp. of America Holdings		73,994		16,164,729
Hotels, Restaurants & Leisure \| 3.8%
McDonald’s Corp.		19,086		5,381,298
Interactive Media & Services \| 8.1%
Alphabet, Inc., Class A (*)		76,389		11,529,392
IT Services \| 4.6%
VeriSign, Inc. (*)		35,114		6,654,454
Machinery \| 4.9%
Otis Worldwide Corp.		70,967		7,044,894
Professional Services \| 4.9%
Verisk Analytics, Inc.		24,968		5,885,707
Verra Mobility Corp. (*)		43,058		1,075,158
				6,960,865
Semiconductors & Semiconductor Equipment \| 5.5%
Analog Devices, Inc.		39,455		7,803,804
Software \| 6.2%
Oracle Corp.		70,655		8,874,974
Specialized REITs \| 9.6%
Crown Castle, Inc.		64,036		6,776,930
Public Storage		23,812		6,906,908
				13,683,838
Total Common Stocks (Cost $92,109,098)				137,714,919

Description	Shares		Fair Value
Short-Term Investments \| 3.7%
State Street Institutional Treasury Money Market Fund, Premier Class, 5.24% (7 day yield) (Cost $5,272,358)	5,272,358	$	5,272,358
Total Investments \| 100.1% (Cost $97,381,456)		$	142,987,277
Liabilities in Excess of Cash and Other Assets \| (0.1)%			(115,664)
Net Assets \| 100.0%		$	142,871,613

Description	Shares		Fair Value
Lazard US Equity Focus Portfolio
Common Stocks \| 97.3%
Automobile Components \| 0.7%
Aptiv PLC (*)	8,209	$	653,847
Banks \| 3.2%
Bank of America Corp.	76,317		2,893,941
Broadline Retail \| 6.9%
Amazon.com, Inc. (*)	35,118		6,334,585
Capital Markets \| 7.9%
Goldman Sachs Group, Inc.	7,905		3,301,839
Intercontinental Exchange, Inc.	28,125		3,865,219
			7,167,058
Commercial Services & Supplies \| 3.2%
Waste Management, Inc.	13,834		2,948,717
Consumer Finance \| 3.2%
American Express Co.	12,618		2,872,992
Consumer Staples Distribution & Retail \| 1.9%
Sysco Corp.	21,740		1,764,853
Containers & Packaging \| 1.9%
Avery Dennison Corp.	7,753		1,730,857
Financial Services \| 4.2%
Visa, Inc., A Shares	13,834		3,860,793
Ground Transportation \| 3.4%
Norfolk Southern Corp.	12,010		3,060,989
Health Care Equipment & Supplies \| 2.0%
Medtronic PLC	20,676		1,801,913
Health Care Providers & Services \| 3.4%
UnitedHealth Group, Inc.	6,233		3,083,465
Hotels, Restaurants & Leisure \| 3.0%
McDonald’s Corp.	9,578		2,700,517
Industrial Conglomerates \| 2.1%
Honeywell International, Inc.	9,122		1,872,290
Industrial REITs \| 2.1%
Prologis, Inc.	14,595		1,900,561
Insurance \| 3.6%
Marsh & McLennan Cos., Inc.	16,115		3,319,368
Interactive Media & Services \| 6.3%
Alphabet, Inc., Class A (*)	38,250		5,773,072
IT Services \| 2.8%
Accenture PLC, Class A	7,449		2,581,898
Life Sciences Tools & Services \| 6.4%
Danaher Corp.	15,051		3,758,536

Description	Shares		Fair Value
IQVIA Holdings, Inc. (*)	8,209	$	2,075,974
			5,834,510
Oil, Gas & Consumable Fuels \| 3.4%
ConocoPhillips	24,628		3,134,652
Personal Care Products \| 1.6%
Estee Lauder Cos., Inc., Class A	9,730		1,499,880
Pharmaceuticals \| 2.7%
Johnson & Johnson	15,507		2,453,052
Semiconductors & Semiconductor Equipment \| 7.8%
Analog Devices, Inc.	16,875		3,337,706
Applied Materials, Inc.	12,922		2,664,904
Broadcom, Inc.	832		1,102,741
			7,105,351
Software \| 10.5%
Microsoft Corp.	22,804		9,594,099
Technology Hardware, Storage & Peripherals \| 3.1%
Apple, Inc.	16,723		2,867,660
Total Common Stocks (Cost $56,125,491)			88,810,920
Short-Term Investments \| 2.8%
State Street Institutional Treasury Money Market Fund, Premier Class, 5.24% (7 day yield) (Cost $2,511,748)	2,511,748		2,511,748
Total Investments \| 100.1% (Cost $58,637,239)		$	91,322,668
Liabilities in Excess of Cash and Other Assets \| (0.1)%			(49,033)
Net Assets \| 100.0%		$	91,273,635

Description	Shares		Fair Value
Lazard US Small Cap Equity Select Portfolio
Common Stocks \| 98.5%
Aerospace & Defense \| 1.1%
Curtiss-Wright Corp.	1,780	$	455,573
Automobile Components \| 1.1%
Gentherm, Inc. (*)	7,716		444,287
Banks \| 6.5%
Comerica, Inc.	9,646		530,434
Commerce Bancshares, Inc.	12,356		657,339
Home BancShares, Inc.	25,253		620,466
Wintrust Financial Corp.	8,276		863,932
			2,672,171
Biotechnology \| 3.0%
Halozyme Therapeutics, Inc. (*)	14,585		593,318
United Therapeutics Corp. (*)	2,754		632,649
			1,225,967
Building Products \| 2.5%
Carlisle Cos., Inc.	1,593		624,217
Hayward Holdings, Inc. (*)	26,528		406,144
			1,030,361
Capital Markets \| 4.9%
Evercore, Inc., Class A	2,720		523,845
StepStone Group, Inc., Class A	19,821		708,402
Stifel Financial Corp.	10,264		802,337
			2,034,584
Chemicals \| 1.0%
Ingevity Corp. (*)	8,817		420,571
Commercial Services & Supplies \| 1.4%
Casella Waste Systems, Inc., Class A (*)	6,011		594,308
Communications Equipment \| 1.3%
Ciena Corp. (*)	10,593		523,824
Construction Materials \| 1.3%
Eagle Materials, Inc.	1,988		540,239
Consumer Staples Distribution & Retail \| 3.9%
BJ’s Wholesale Club Holdings, Inc. (*)	6,155		465,626
Chefs’ Warehouse Inc. (*)	17,654		664,849
U.S. Foods Holding Corp. (*)	8,765		473,047
			1,603,522
Containers & Packaging \| 2.7%
Avery Dennison Corp.	2,060		459,895
Graphic Packaging Holding Co.	23,169		676,071
			1,135,966

Description	Shares		Fair Value
Electrical Equipment \| 2.3%
EnerSys	5,243	$	495,254
Generac Holdings, Inc. (*)	3,542		446,788
			942,042
Electronic Equipment, Instruments & Components \| 1.4%
Cognex Corp.	13,763		583,826
Energy Equipment & Services \| 3.6%
Atlas Energy Solutions, Inc.	20,922		473,255
Cactus, Inc., Class A	13,374		669,904
Liberty Energy, Inc.	16,987		351,971
			1,495,130
Financial Services \| 1.2%
AvidXchange Holdings, Inc. (*)	37,700		495,755
Health Care Equipment & Supplies \| 4.6%
Enovis Corp. (*)	13,368		834,831
Inspire Medical Systems, Inc. (*)	2,125		456,429
Lantheus Holdings, Inc. (*)	9,715		604,662
			1,895,922
Health Care Providers & Services \| 0.9%
Henry Schein, Inc. (*)	5,137		387,946
Health Care Technology \| 2.0%
Evolent Health, Inc., Class A (*)	12,571		412,203
Phreesia, Inc. (*)	18,204		435,622
			847,825
Hotels, Restaurants & Leisure \| 3.1%
Dave & Buster’s Entertainment, Inc. (*)	5,002		313,125
Kura Sushi USA, Inc., Class A (*)	4,333		498,989
Wyndham Hotels & Resorts, Inc.	5,891		452,134
			1,264,248
Household Durables \| 1.1%
Helen of Troy Ltd. (*)	3,915		451,165
Insurance \| 2.8%
Hanover Insurance Group, Inc.	3,280		446,638
Reinsurance Group of America, Inc.	3,717		716,935
			1,163,573
Interactive Media & Services \| 3.4%
Cars.com, Inc. (*)	29,893		513,562
Ziff Davis, Inc. (*)	8,446		532,436
ZoomInfo Technologies, Inc. (*)	21,688		347,658
			1,393,656
IT Services \| 2.6%
DigitalOcean Holdings, Inc. (*)	13,701		523,104

Description	Shares		Fair Value
Lazard US Small Cap Equity Select Portfolio (concluded)
Squarespace, Inc., Class A (*)	15,294	$	557,314
			1,080,418
Leisure Products \| 0.8%
Brunswick Corp.	3,239		312,628
Life Sciences Tools & Services \| 4.4%
AbCellera Biologics, Inc. (*)	72,085		326,545
Charles River Laboratories International, Inc. (*)	2,421		655,970
Maravai LifeSciences Holdings, Inc., Class A (*)	43,385		376,148
Stevanato Group SpA	14,540		466,734
			1,825,397
Machinery \| 5.4%
Columbus McKinnon Corp.	12,477		556,849
Gates Industrial Corp. PLC (*)	33,685		596,561
Middleby Corp. (*)	4,853		780,314
Nordson Corp.	1,086		298,150
			2,231,874
Oil, Gas & Consumable Fuels \| 3.6%
Antero Resources Corp. (*)	23,106		670,074
Magnolia Oil & Gas Corp., Class A	31,046		805,644
			1,475,718
Professional Services \| 1.1%
Jacobs Solutions, Inc.	2,992		459,960
Real Estate Management & Development \| 1.7%
DigitalBridge Group, Inc.	36,640		706,053
Residential REITs \| 1.3%
Camden Property Trust	5,483		539,527
Retail REITs \| 1.5%
Brixmor Property Group, Inc.	27,146		636,574
Semiconductors & Semiconductor Equipment \| 5.4%
Allegro MicroSystems, Inc. (*)	14,498		390,866
Credo Technology Group Holding Ltd. (*)	18,006		381,547
MKS Instruments, Inc.	4,712		626,696
Onto Innovation, Inc. (*)	3,309		599,194
Wolfspeed, Inc. (*)	7,789		229,775
			2,228,078
Software \| 5.4%
CyberArk Software Ltd. (*)	1,315		349,303
Dolby Laboratories, Inc., Class A	5,432		455,039
DoubleVerify Holdings, Inc. (*)	16,275		572,229
Dynatrace, Inc. (*)	8,289		384,941

Description	Shares		Fair Value
N-able, Inc. (*)	35,523	$	464,286
			2,225,798
Specialized REITs \| 1.3%
CubeSmart	11,796		533,415
Specialty Retail \| 6.1%
Boot Barn Holdings, Inc. (*)	6,270		596,590
Chewy, Inc., Class A (*)	29,258		465,495
Five Below, Inc. (*)	1,937		351,333
RH (*)	1,520		529,355
Warby Parker, Inc., Class A (*)	42,870		583,461
			2,526,234
Trading Companies & Distributors \| 0.8%
Hudson Technologies, Inc. (*)	29,547		325,312
Total Common Stocks (Cost $32,218,408)			40,709,447
Total Investments \| 98.5% (Cost $32,218,408)		$	40,709,447
Cash and Other Assets in Excess of Liabilities \| 1.5%			624,257
Net Assets \| 100.0%		$	41,333,704

Description	Shares		Fair Value
Lazard US Sustainable Equity Portfolio
Common Stocks \| 97.0%
Automobile Components \| 0.7%
Aptiv PLC (*)	1,188	$	94,624
Banks \| 2.3%
Commerce Bancshares, Inc.	5,644		300,261
Building Products \| 2.3%
Carlisle Cos., Inc.	278		108,934
Trane Technologies PLC	646		193,929
			302,863
Capital Markets \| 5.5%
Charles Schwab Corp.	4,938		357,215
Intercontinental Exchange, Inc.	2,604		357,868
			715,083
Chemicals \| 0.2%
Arcadium Lithium PLC (*)	4,959		21,373
Commercial Services & Supplies \| 3.6%
MSA Safety, Inc.	498		96,408
Waste Management, Inc.	1,729		368,536
			464,944
Communications Equipment \| 1.0%
Cisco Systems, Inc.	2,554		127,470
Consumer Finance \| 1.9%
American Express Co.	1,083		246,588
Consumer Staples Distribution & Retail \| 1.2%
Sysco Corp.	1,911		155,135
Containers & Packaging \| 1.6%
Avery Dennison Corp.	958		213,874
Electrical Equipment \| 2.8%
Rockwell Automation, Inc.	1,142		332,699
Shoals Technologies Group, Inc., Class A (*)	3,114		34,814
			367,513
Electronic Equipment, Instruments & Components \| 1.3%
Amphenol Corp., Class A	1,459		168,296
Financial Services \| 3.9%
Visa, Inc., A Shares	1,813		505,972
Ground Transportation \| 2.3%
Norfolk Southern Corp.	1,147		292,336
Health Care Equipment & Supplies \| 3.8%
Boston Scientific Corp. (*)	3,946		270,261
Lantheus Holdings, Inc. (*)	1,229		76,493
Medtronic PLC	1,666		145,192
			491,946

Description	Shares		Fair Value
Health Care Providers & Services \| 4.8%
Humana, Inc.	374	$	129,673
UnitedHealth Group, Inc.	996		492,721
			622,394
Household Products \| 2.6%
Procter & Gamble Co.	2,104		341,374
Industrial REITs \| 2.3%
Prologis, Inc.	2,312		301,069
IT Services \| 3.4%
Accenture PLC, Class A	1,291		447,474
Life Sciences Tools & Services \| 9.1%
Agilent Technologies, Inc.	1,521		221,321
Danaher Corp.	1,445		360,845
IQVIA Holdings, Inc. (*)	956		241,763
Thermo Fisher Scientific, Inc.	608		353,376
			1,177,305
Machinery \| 4.9%
Deere & Co.	520		213,585
Nordson Corp.	562		154,291
Watts Water Technologies, Inc., Class A	583		123,917
Xylem, Inc.	1,083		139,967
			631,760
Personal Care Products \| 1.1%
Estee Lauder Cos., Inc., Class A	938		144,593
Pharmaceuticals \| 3.3%
Johnson & Johnson	1,114		176,224
Zoetis, Inc.	1,459		246,877
			423,101
Semiconductors & Semiconductor Equipment \| 7.3%
Analog Devices, Inc.	2,021		399,733
Applied Materials, Inc.	1,229		253,457
Broadcom, Inc.	122		161,700
Marvell Technology, Inc.	883		62,587
ON Semiconductor Corp. (*)	916		67,372
			944,849
Software \| 16.7%
Adobe, Inc. (*)	411		207,391
CyberArk Software Ltd. (*)	434		115,283
Intuit, Inc.	353		229,450
Microsoft Corp.	3,230		1,358,926
Salesforce, Inc.	842		253,593
			2,164,643

Description	Shares		Fair Value
Lazard US Sustainable Equity Portfolio (concluded)
Specialty Retail \| 3.2%
Home Depot, Inc.	1,083	$	415,439
Technology Hardware, Storage & Peripherals \| 3.0%
Apple, Inc.	2,238		383,772
Textiles, Apparel & Luxury Goods \| 0.9%
NIKE, Inc., Class B	1,250		117,475
Total Common Stocks (Cost $8,913,798)			12,583,526
Short-Term Investments \| 3.1%
State Street Institutional Treasury Money Market Fund, Premier Class, 5.24% (7 day yield) (Cost $400,056)	400,056		400,056
Total Investments \| 100.1% (Cost $9,313,854)		$	12,983,582
Liabilities in Excess of Cash and Other Assets \| (0.1)%			(14,679)
Net Assets \| 100.0%		$	12,968,903

Description	Shares		Fair Value
Lazard US Systematic Small Cap Equity Portfolio
Closed-End Management Investment Companies \| 0.4%
BlackRock Credit Allocation Income Trust	7,676	$	82,056
Kayne Anderson Energy Infrastructure Fund	9,991		100,010
(Cost $172,503)			182,066
Common Stocks \| 98.5%
Aerospace & Defense \| 0.1%
AAR Corp. (*)	684		40,951
Automobile Components \| 1.3%
Adient PLC (*)	2,588		85,197
Autoliv, Inc.	700		84,301
BorgWarner, Inc.	2,314		80,388
Gentex Corp.	2,497		90,192
Gentherm, Inc. (*)	1,656		95,352
Phinia, Inc.	170		6,533
Standard Motor Products, Inc.	2,705		90,753
			532,716
Automobiles \| 0.4%
Harley-Davidson, Inc.	3,406		148,978
Banks \| 1.5%
Amalgamated Financial Corp.	5,190		124,560
Cadence Bank	2,892		83,868
Capital City Bank Group, Inc.	2,345		64,957
Financial Institutions, Inc.	3,131		58,925
First Business Financial Services, Inc.	862		32,325
FS Bancorp, Inc.	897		31,135
OFG Bancorp	2,068		76,123
Orange County Bancorp, Inc.	1,149		52,854
UMB Financial Corp.	1,050		91,340
VersaBank	1,132		11,999
			628,086
Beverages \| 0.2%
Coca-Cola Consolidated, Inc.	114		96,491
Biotechnology \| 5.1%
AC Immune SA (*)	1,801		5,331
ACADIA Pharmaceuticals, Inc. (*)	3,725		68,875
ADMA Biologics, Inc. (*)	46,193		304,874
Alkermes PLC (*)	4,990		135,079
Anika Therapeutics, Inc. (*)	3,697		93,904
Apellis Pharmaceuticals, Inc. (*)	1,374		80,764
Biohaven Ltd. (*)	272		14,876
Blueprint Medicines Corp. (*)	981		93,058
Catalyst Pharmaceuticals, Inc. (*)	12,233		194,994

Description	Shares		Fair Value
Deciphera Pharmaceuticals, Inc. (*)	5,052	$	79,468
Exelixis, Inc. (*)	2,200		52,206
Halozyme Therapeutics, Inc. (*)	3,301		134,285
Ironwood Pharmaceuticals, Inc. (*)	7,426		64,680
MiMedx Group, Inc. (*)	9,632		74,166
Myriad Genetics, Inc. (*)	4,357		92,891
Neurocrine Biosciences, Inc. (*)	574		79,166
PTC Therapeutics, Inc. (*)	2,944		85,641
Puma Biotechnology, Inc. (*)	25,363		134,424
Sage Therapeutics, Inc. (*)	3,510		65,777
Ultragenyx Pharmaceutical, Inc. (*)	1,831		85,489
United Therapeutics Corp. (*)	641		147,251
Vanda Pharmaceuticals, Inc. (*)	1,330		5,466
			2,092,665
Broadline Retail \| 0.5%
Dillard’s, Inc., Class A	249		117,438
Ollie’s Bargain Outlet Holdings, Inc. (*)	1,240		98,667
			216,105
Building Products \| 2.5%
American Woodmark Corp. (*)	709		72,077
AZEK Co., Inc. (*)	2,341		117,565
Builders FirstSource, Inc. (*)	2,027		422,731
Gibraltar Industries, Inc. (*)	1,213		97,683
Owens Corning	191		31,859
Simpson Manufacturing Co., Inc.	281		57,656
Tecnoglass, Inc.	87		4,527
UFP Industries, Inc.	1,255		154,377
Zurn Elkay Water Solutions Corp.	2,684		89,833
			1,048,308
Capital Markets \| 1.8%
Affiliated Managers Group, Inc.	507		84,907
Bain Capital Specialty Finance, Inc.	7,801		122,320
Carlyle Secured Lending, Inc.	8,511		138,559
Federated Hermes, Inc.	2,207		79,717
Golub Capital BDC, Inc.	5,039		83,799
Houlihan Lokey, Inc.	632		81,016
New Mountain Finance Corp.	6,385		80,898
SEI Investments Co.	1,180		84,842
			756,058
Chemicals \| 1.1%
Avient Corp.	2,270		98,518
Bioceres Crop Solutions Corp. (*)	9,321		118,004
Cabot Corp.	1,110		102,342
Ingevity Corp. (*)	752		35,870

Description	Shares		Fair Value
Lazard US Systematic Small Cap Equity Portfolio (continued)
Minerals Technologies, Inc.	1,305	$	98,241
			452,975
Commercial Services & Supplies \| 3.8%
ACCO Brands Corp.	16,728		93,844
Aris Water Solutions, Inc., Class A	7,592		107,427
BrightView Holdings, Inc. (*)	16,093		191,507
CECO Environmental Corp. (*)	7,115		163,787
Civeo Corp.	5,164		138,654
Clean Harbors, Inc. (*)	491		98,843
CompX International, Inc.	1,262		43,287
Deluxe Corp.	2,460		50,651
Ennis, Inc.	990		20,305
HNI Corp.	2,294		103,528
Interface, Inc.	5,884		98,969
Liquidity Services, Inc. (*)	5,929		110,279
OPENLANE, Inc. (*)	4,720		81,656
Steelcase, Inc.,Class A	14,075		184,101
Viad Corp. (*)	2,570		101,489
			1,588,327
Communications Equipment \| 1.3%
Calix, Inc. (*)	2,549		84,525
Ceragon Networks Ltd. (*)	51,000		163,200
Ciena Corp. (*)	1,776		87,823
Extreme Networks, Inc. (*)	5,250		60,585
Gilat Satellite Networks Ltd. (*)	7,512		40,790
Ituran Location & Control Ltd.	3,539		98,951
			535,874
Construction & Engineering \| 1.5%
API Group Corp. (*)	800		31,416
Argan, Inc.	729		36,844
IES Holdings, Inc. (*)	2,141		260,431
Limbach Holdings, Inc. (*)	4,456		184,567
Stantec, Inc.	1,201		99,731
			612,989
Construction Materials \| 0.3%
U.S. Lime & Minerals, Inc.	460		137,144
Consumer Finance \| 1.1%
Bread Financial Holdings, Inc.	2,414		89,897
Enova International, Inc. (*)	1,919		120,571
FirstCash Holdings, Inc.	672		85,707
PROG Holdings, Inc.	4,285		147,575
			443,750
Consumer Staples Distribution & Retail \| 0.5%
Andersons, Inc.	1,811		103,897

Description	Shares		Fair Value
PriceSmart, Inc.	1,097	$	92,148
			196,045
Containers & Packaging \| 1.0%
Greif, Inc.,Class A	2,257		155,846
Myers Industries, Inc.	4,217		97,708
Pactiv Evergreen, Inc.	3,670		52,554
Sonoco Products Co.	1,548		89,536
			395,644
Distributors \| 0.2%
Weyco Group, Inc.	2,523		80,433
Diversified Consumer Services \| 2.7%
Afya Ltd., Class A (*)	8,907		165,492
American Public Education, Inc. (*)	6,404		90,937
Frontdoor, Inc. (*)	3,441		112,108
Grand Canyon Education, Inc. (*)	982		133,758
Laureate Education, Inc.	11,252		163,942
Lincoln Educational Services Corp. (*)	4,577		47,280
Perdoceo Education Corp.	5,043		88,555
Strategic Education, Inc.	851		88,606
Stride, Inc. (*)	1,824		115,003
Universal Technical Institute, Inc. (*)	6,009		95,784
Vitru Ltd. (*)	1,341		19,337
			1,120,802
Diversified REITs \| 0.4%
Broadstone Net Lease, Inc.	4,518		70,797
Essential Properties Realty Trust, Inc.	3,012		80,300
			151,097
Diversified Telecommunication Services \| 0.2%
Liberty Latin America Ltd., Class C (*)	14,335		100,202
Electrical Equipment \| 2.9%
Acuity Brands, Inc.	633		170,106
Allient, Inc.	4,060		144,861
Atkore, Inc.	1,181		224,815
nVent Electric PLC	2,853		215,116
Powell Industries, Inc.	599		85,238
Preformed Line Products Co.	1,489		191,590
Regal Rexnord Corp.	256		46,105
Thermon Group Holdings, Inc. (*)	3,337		109,187
			1,187,018
Electronic Equipment, Instruments & Components \| 4.8%
Advanced Energy Industries, Inc.	420		42,832
Bel Fuse, Inc. Class B	1,749		105,482
Benchmark Electronics, Inc.	3,056		91,710
Celestica, Inc. (*)	8,695		390,753
Climb Global Solutions, Inc.	1,624		115,109

Description	Shares		Fair Value
Lazard US Systematic Small Cap Equity Portfolio (continued)
Coherent Corp. (*)	1,376	$	83,413
Daktronics, Inc. (*)	14,404		143,464
ePlus, Inc. (*)	1,298		101,945
Itron, Inc. (*)	1,609		148,865
Jabil, Inc.	1,331		178,287
Kimball Electronics, Inc. (*)	4,322		93,571
Mirion Technologies, Inc. (*)	12,064		137,168
nLight, Inc. (*)	2,865		37,245
Novanta, Inc. (*)	263		45,964
OSI Systems, Inc. (*)	574		81,979
PC Connection, Inc.	1,319		86,962
Sanmina Corp. (*)	609		37,868
ScanSource, Inc. (*)	1,439		63,374
			1,985,991
Energy Equipment & Services \| 0.6%
North American Construction Group Ltd.	2,013		44,850
NOV, Inc.	5,129		100,118
Select Water Solutions, Inc.	10,550		97,376
			242,344
Entertainment \| 0.2%
Cinemark Holdings, Inc. (*)	4,484		80,577
Financial Services \| 1.4%
Cass Information Systems, Inc.	1,503		72,399
Enact Holdings, Inc.	2,917		90,952
Euronet Worldwide, Inc. (*)	772		84,866
Merchants Bancorp	1,763		76,126
NMI Holdings, Inc., Class A (*)	4,881		157,852
WEX, Inc. (*)	386		91,687
			573,882
Ground Transportation \| 0.5%
FTAI Infrastructure, Inc.	19,068		119,747
Knight-Swift Transportation Holdings, Inc.	718		39,504
XPO, Inc. (*)	458		55,890
			215,141
Health Care Equipment & Supplies \| 3.7%
Artivion, Inc. (*)	1,340		28,354
CONMED Corp.	1,026		82,162
DENTSPLY SIRONA, Inc.	1,275		42,317
Glaukos Corp. (*)	461		43,468
Haemonetics Corp. (*)	1,619		138,182
ICU Medical, Inc. (*)	278		29,835
iRadimed Corp.	3,636		159,948
Neogen Corp. (*)	4,877		76,959
OraSure Technologies, Inc. (*)	19,014		116,936
Penumbra, Inc. (*)	278		62,044

Description	Shares		Fair Value
RxSight, Inc. (*)	2,829	$	145,920
Sanara Medtech, Inc. (*)	1,322		48,914
Semler Scientific, Inc. (*)	3,110		90,843
Shockwave Medical, Inc. (*)	155		50,473
Surmodics, Inc. (*)	2,164		63,492
UFP Technologies, Inc. (*)	876		220,927
Utah Medical Products, Inc.	855		60,799
Varex Imaging Corp. (*)	3,293		59,603
			1,521,176
Health Care Providers & Services \| 2.1%
Addus HomeCare Corp. (*)	1,581		163,381
Chemed Corp.	151		96,931
DocGo, Inc. (*)	21,629		87,381
Encompass Health Corp.	589		48,640
NeoGenomics, Inc. (*)	2,362		37,131
Option Care Health, Inc. (*)	3,917		131,376
PetIQ, Inc. (*)	5,479		100,156
RadNet, Inc. (*)	1,187		57,759
Talkspace, Inc. (*)	28,217		100,735
Viemed Healthcare, Inc. (*)	3,644		34,363
			857,853
Health Care REITs \| 0.7%
Healthpeak Properties, Inc.	7,892		147,975
LTC Properties, Inc.	2,092		68,011
Omega Healthcare Investors, Inc.	2,611		82,690
			298,676
Health Care Technology \| 0.2%
HealthStream, Inc.	2,594		69,156
Hotels, Restaurants & Leisure \| 1.4%
Accel Entertainment, Inc. (*)	13,249		156,206
Arcos Dorados Holdings, Inc., Class A (*)	3,542		39,387
Boyd Gaming Corp.	1,611		108,453
Denny’s Corp. (*)	3,876		34,729
Despegar.com Corp. (*)	8,714		104,219
International Game Technology PLC	4,271		96,482
Krispy Kreme, Inc.	3,083		46,969
			586,445
Household Durables \| 2.1%
Beazer Homes USA, Inc. (*)	3,494		114,603
Cavco Industries, Inc. (*)	271		108,145
Dream Finders Homes, Inc., Class A (*)	1,168		51,077
Hamilton Beach Brands Holding Co., Class A	3,749		91,326
Helen of Troy Ltd. (*)	352		40,565
Hooker Furnishings Corp.	2,085		50,061
Hovnanian Enterprises, Inc., Class A (*)	1,036		162,590
KB Home	372		26,367

Description	Shares		Fair Value
Lazard US Systematic Small Cap Equity Portfolio (continued)
M/I Homes, Inc. (*)	351	$	47,838
MDC Holdings, Inc.	1,385		87,130
Tri Pointe Homes, Inc. (*)	2,467		95,374
			875,076
Household Products \| 0.2%
Oil-Dri Corp. of America	1,166		86,937
Independent Power & Renewable Electricity Producers \| 0.4%
Atlantica Sustainable Infrastructure PLC	4,981		92,049
Brookfield Renewable Corp., Class A	3,048		74,889
			166,938
Industrial REITs \| 0.7%
Americold Realty Trust, Inc.	2,126		52,980
EastGroup Properties, Inc.	249		44,763
First Industrial Realty Trust, Inc.	1,278		67,146
LXP Industrial Trust	6,595		59,487
STAG Industrial, Inc.	1,918		73,728
			298,104
Insurance \| 2.1%
Assurant, Inc.	420		79,061
Enstar Group Ltd. (*)	289		89,810
International General Insurance Holdings Ltd.	3,376		45,711
Palomar Holdings, Inc. (*)	1,306		109,482
Primerica, Inc.	385		97,390
Reinsurance Group of America, Inc.	512		98,754
RLI Corp.	561		83,292
Selective Insurance Group, Inc.	804		87,773
Unum Group	1,567		84,085
White Mountains Insurance Group Ltd.	45		80,743
			856,101
Interactive Media & Services \| 1.6%
Cargurus, Inc. (*)	3,875		89,435
Cars.com, Inc. (*)	4,989		85,711
IAC, Inc. (*)	584		31,151
Match Group, Inc. (*)	2,448		88,813
MediaAlpha, Inc., Class A (*)	4,443		90,504
VTEX, Class A (*)	11,794		96,357
Yelp, Inc. (*)	2,832		111,581
ZipRecruiter, Inc., Class A (*)	7,392		84,934
			678,486
IT Services \| 1.4%
Amdocs Ltd.	890		80,429
Backblaze, Inc., Class A (*)	8,265		84,551
BigBear.ai Holdings, Inc. (*)	23,983		49,165

Description	Shares		Fair Value
CI&T, Inc., Class A (*)	2,358	$	9,739
Hackett Group, Inc.	4,498		109,301
Okta, Inc. (*)	1,122		117,384
Rackspace Technology, Inc. (*)	15,805		24,972
Squarespace, Inc., Class A (*)	2,535		92,375
			567,916
Leisure Products \| 2.1%
BRP, Inc.	1,827		122,592
Brunswick Corp.	1,276		123,159
Escalade, Inc.	1,307		17,971
JAKKS Pacific, Inc. (*)	4,723		116,658
Johnson Outdoors, Inc., Class A	1,969		90,791
Malibu Boats, Inc. ,Class A (*)	1,405		60,808
Marine Products Corp.	4,454		52,334
MasterCraft Boat Holdings, Inc. (*)	4,280		101,522
Polaris, Inc.	1,180		118,142
YETI Holdings, Inc. (*)	2,189		84,386
			888,363
Life Sciences Tools & Services \| 2.0%
Azenta, Inc. (*)	1,380		83,186
Bruker Corp.	1,963		184,404
ChromaDex Corp. (*)	7,425		25,839
CryoPort, Inc. (*)	2,836		50,197
Medpace Holdings, Inc. (*)	948		383,134
Mesa Laboratories, Inc.	965		105,890
			832,650
Machinery \| 3.8%
AGCO Corp.	684		84,146
Alamo Group, Inc.	653		149,099
Allison Transmission Holdings, Inc.	3,416		277,243
Blue Bird Corp. (*)	1,428		54,750
Columbus McKinnon Corp.	2,115		94,392
Energy Recovery, Inc. (*)	5,994		94,645
Hyster-Yale Materials Handling, Inc.	729		46,780
Mueller Industries, Inc.	3,876		209,033
REV Group, Inc.	8,927		197,197
Tennant Co.	1,339		162,836
Terex Corp.	1,438		92,607
Watts Water Technologies, Inc., Class A	432		91,822
			1,554,550
Marine Transportation \| 1.4%
Danaos Corp.	2,181		157,468
Euroseas Ltd.	4,206		150,785
Global Ship Lease, Inc., Class A	2,158		43,807
Golden Ocean Group Ltd.	6,839		88,634

Description	Shares		Fair Value
Lazard US Systematic Small Cap Equity Portfolio (continued)
Grindrod Shipping Holdings Ltd.	5,069	$	53,579
Safe Bulkers, Inc.	18,210		90,322
			584,595
Media \| 0.9%
Emerald Holding, Inc. (*)	9,342		63,619
Gambling.com Group Ltd. (*)	6,107		55,757
Innovid Corp. (*)	13,185		32,831
Scholastic Corp.	2,469		93,106
Sinclair, Inc.	2,507		33,769
Thryv Holdings, Inc. (*)	4,763		105,881
			384,963
Mortgage Real Estate Investment Trusts (REITs) \| 0.7%
Claros Mortgage Trust, Inc.	9,133		89,138
Franklin BSP Realty Trust, Inc.	5,637		75,311
PennyMac Mortgage Investment Trust	8,993		132,017
			296,466
Office REITs \| 0.3%
COPT Defense Properties	2,450		59,217
Postal Realty Trust, Inc., Class A	3,897		55,805
			115,022
Oil, Gas & Consumable Fuels \| 0.3%
Sabine Royalty Trust	709		45,085
San Juan Basin Royalty Trust	11,674		61,756
			106,841
Paper & Forest Products \| 0.3%
Clearwater Paper Corp. (*)	3,173		138,755
Personal Care Products \| 0.8%
Edgewell Personal Care Co.	2,211		85,433
elf Beauty, Inc. (*)	610		119,578
Herbalife Ltd. (*)	5,130		51,557
Nature’s Sunshine Products, Inc. (*)	2,398		49,807
Nu Skin Enterprises, Inc., Class A	2,362		32,666
			339,041
Pharmaceuticals \| 0.3%
Amphastar Pharmaceuticals, Inc. (*)	1,850		81,234
Tilray Brands, Inc. (*)	21,873		54,026
			135,260
Professional Services \| 4.8%
ASGN, Inc. (*)	1,244		130,321
Barrett Business Services, Inc.	1,323		167,651
Clarivate PLC (*)	8,765		65,124
Conduent, Inc. (*)	12,227		41,327
CRA International, Inc.	1,276		190,864
CSG Systems International, Inc.	2,273		117,150

Description	Shares		Fair Value
ExlService Holdings, Inc. (*)	2,317	$	73,681
Franklin Covey Co. (*)	3,099		121,667
FTI Consulting, Inc. (*)	460		96,733
Heidrick & Struggles International, Inc.	4,378		147,363
Huron Consulting Group, Inc. (*)	1,241		119,905
IBEX Holdings Ltd. (*)	1,804		27,836
ICF International, Inc.	323		48,654
Kelly Services, Inc., Class A	3,939		98,633
Legalzoom.com, Inc. (*)	7,389		98,569
Resources Connection, Inc.	7,051		92,791
Science Applications International Corp.	966		125,957
Sterling Check Corp. (*)	5,784		93,007
Willdan Group, Inc. (*)	3,817		110,655
			1,967,888
Real Estate Management & Development \| 0.4%
FirstService Corp.	466		77,263
FRP Holdings, Inc. (*)	683		41,936
RMR Group, Inc., Class A	1,783		42,792
			161,991
Residential REITs \| 0.4%
Apartment Income REIT Corp.	1,781		57,829
Camden Property Trust	739		72,718
Elme Communities	3,784		52,673
			183,220
Retail REITs \| 1.8%
Agree Realty Corp.	1,168		66,716
Alexander’s, Inc.	361		78,388
Brixmor Property Group, Inc.	3,511		82,333
Federal Realty Investment Trust	614		62,702
Kite Realty Group Trust	3,070		66,558
NNN REIT, Inc.	1,999		85,437
Phillips Edison & Co., Inc.	1,990		71,381
Realty Income Corp.	1,202		65,028
Retail Opportunity Investments Corp.	6,372		81,689
Tanger, Inc.	3,029		89,446
			749,678
Semiconductors & Semiconductor Equipment \| 2.0%
Axcelis Technologies, Inc. (*)	1,966		219,248
Cirrus Logic, Inc. (*)	1,671		154,668
Diodes, Inc. (*)	709		49,985
Kulicke & Soffa Industries, Inc.	1,843		92,721
NVE Corp.	578		52,124
Photronics, Inc. (*)	5,990		169,637
Silicon Laboratories, Inc. (*)	645		92,699
			831,082

Description	Shares		Fair Value
Lazard US Systematic Small Cap Equity Portfolio (continued)
Software \| 11.6%
Agilysys, Inc. (*)	1,251	$	105,409
Alarm.com Holdings, Inc. (*)	597		43,265
Alkami Technology, Inc. (*)	5,058		124,275
Appfolio, Inc., Class A (*)	573		141,382
BILL Holdings, Inc. (*)	680		46,730
Blackline, Inc. (*)	1,742		112,498
Box, Inc., Class A (*)	3,083		87,311
Cellebrite DI Ltd. (*)	14,542		161,125
Cerence, Inc. (*)	5,326		83,884
Clear Secure, Inc., Class A	2,262		48,113
Clearwater Analytics Holdings, Inc., Class A (*)	4,708		83,284
CommVault Systems, Inc. (*)	1,860		188,660
Confluent, Inc., Class A (*)	3,157		96,352
Daily Journal Corp. (*)	267		96,550
Dave, Inc. (*)	2,604		96,713
Docebo, Inc. (*)	897		43,935
DocuSign, Inc. (*)	1,826		108,738
Dolby Laboratories, Inc., Class A	1,136		95,163
E2open Parent Holdings, Inc. (*)	11,872		52,712
Elastic NV (*)	1,524		152,766
Freshworks, Inc., Class A (*)	5,399		98,316
Gitlab, Inc., Class A (*)	1,115		65,027
JFrog Ltd. (*)	2,689		118,908
Karooooo Ltd.	1,074		26,914
Magic Software Enterprises Ltd.	1,661		19,018
Manhattan Associates, Inc. (*)	403		100,843
MeridianLink, Inc. (*)	2,076		38,821
Mitek Systems, Inc. (*)	7,541		106,328
Monday.com Ltd. (*)	666		150,429
nCino, Inc. (*)	2,651		99,094
Open Text Corp.	2,901		112,646
Pegasystems, Inc.	2,392		154,619
Procore Technologies, Inc. (*)	1,191		97,864
Progress Software Corp.	2,419		128,957
Qualys, Inc. (*)	698		116,475
Red Violet, Inc. (*)	674		13,177
ReposiTrak, Inc.	3,281		52,004
RingCentral, Inc., Class A (*)	2,731		94,875
Samsara, Inc. Class A (*)	6,136		231,879
Sapiens International Corp. NV	2,969		95,483
SEMrush Holdings, Inc.,Class A (*)	3,456		45,827
SentinelOne, Inc. Class A (*)	4,835		112,704
Smartsheet, Inc.,Class A (*)	1,873		72,110
SolarWinds Corp. (*)	6,616		83,494

Description	Shares		Fair Value
Sprinklr, Inc., Class A (*)	9,606	$	117,866
Sprout Social, Inc., Class A (*)	1,517		90,580
SPS Commerce, Inc. (*)	267		49,368
Tenable Holdings, Inc. (*)	2,130		105,286
Vertex, Inc., Class A (*)	2,700		85,752
Weave Communications, Inc. (*)	7,204		82,702
Workiva, Inc. (*)	820		69,536
			4,805,767
Specialized REITs \| 0.4%
Extra Space Storage, Inc.	554		81,438
Four Corners Property Trust, Inc.	3,486		85,302
			166,740
Specialty Retail \| 3.4%
American Eagle Outfitters, Inc.	3,848		99,240
Asbury Automotive Group, Inc. (*)	313		73,799
AutoNation, Inc. (*)	671		111,104
Betterware de Mexico SAPI de CV	8,181		163,456
Boot Barn Holdings, Inc. (*)	590		56,139
Buckle, Inc.	2,199		88,554
Build-A-Bear Workshop, Inc.	4,266		127,425
Group 1 Automotive, Inc.	361		105,495
Lithia Motors, Inc.	131		39,413
Murphy USA, Inc.	427		178,998
Signet Jewelers Ltd.	1,191		119,183
Upbound Group, Inc.	2,697		94,961
Urban Outfitters, Inc. (*)	2,125		92,268
Winmark Corp.	108		39,064
			1,389,099
Technology Hardware, Storage & Peripherals \| 1.1%
Super Micro Computer, Inc. (*)	351		354,521
Xerox Holdings Corp.	4,489		80,353
			434,874
Textiles, Apparel & Luxury Goods \| 2.4%
Carter’s, Inc.	1,052		89,083
Crocs, Inc. (*)	633		91,025
G-III Apparel Group Ltd. (*)	2,664		77,283
Gildan Activewear, Inc.	3,387		125,759
Kontoor Brands, Inc.	1,724		103,871
Movado Group, Inc.	2,705		75,551
Oxford Industries, Inc.	1,363		153,201
PVH Corp.	743		104,473
Superior Group of Cos., Inc.	4,059		67,055
Tapestry, Inc.	2,652		125,917
			1,013,218

Description	Shares		Fair Value
Lazard US Systematic Small Cap Equity Portfolio (concluded)
Trading Companies & Distributors \| 2.7%
Applied Industrial Technologies, Inc.	786	$	155,274
Beacon Roofing Supply, Inc. (*)	1,067		104,587
Boise Cascade Co.	1,536		235,576
DNOW, Inc. (*)	8,064		122,573
GMS, Inc. (*)	62		6,035
Karat Packaging, Inc.	3,365		96,273
McGrath RentCorp	851		104,988
MRC Global, Inc. (*)	8,050		101,189
MSC Industrial Direct Co., Inc. Class A	939		91,121
Titan Machinery, Inc. (*)	3,846		95,419
			1,113,035
Wireless Telecommunication Services \| 0.1%
Spok Holdings, Inc.	3,410		54,390
Total Common Stocks (Cost $33,534,564)			40,770,945
Rights \| 0.0%
Biotechnology \| 0.0%
Adamas Pharmaceuticals, Inc. CVR
Expires 2024 (*), (¢)	1,139		0
Expires 2025 (*), (¢)	1,139		0
Epizyme, Inc. CVR Expires 2499 (*), (¢)	41,136		823
Radius Health, Inc. CVR Expires 2499 (*), (¢)	7,231		578
			1,401
Paper & Forest Products \| 0.0%
Resolute Forest Products, Inc. CVR Expires 2499 (*), (¢)	10,077		0
Total Rights (Cost $15,847)			1,401
Short-Term Investments \| 0.9%
State Street Institutional Treasury Money Market Fund, Premier Class, 5.24% (7 day yield) (Cost $378,876)	378,876		378,876
Total Investments \| 99.8% (Cost $34,101,790)		$	41,333,288
Cash and Other Assets in Excess of Liabilities \| 0.2%			62,784
Net Assets \| 100.0%		$	41,396,072

Description	Principal Amount (000)		Fair Value
Lazard US Convertibles Portfolio
Convertible Corporate Bonds \| 88.6%
Automobiles \| 3.0%
Ford Motor Co., 0.000%, 03/15/26	$	238	$	247,163
Rivian Automotive, Inc., 4.625%, 03/15/29		164		132,102
				379,265
Biotechnology \| 7.2%
Alnylam Pharmaceuticals, Inc., 1.000%, 09/15/27		186		175,747
Bridgebio Pharma, Inc., 2.500%, 03/15/27		76		81,804
Exact Sciences Corp., 0.375%, 03/01/28		227		209,839
Halozyme Therapeutics, Inc., 0.250%, 03/01/27		280		249,157
Ionis Pharmaceuticals, Inc., 0.000%, 04/01/26		100		98,942
Sarepta Therapeutics, Inc., 1.250%, 09/15/27		73		85,454
				900,943
Broadline Retail \| 1.2%
Etsy, Inc., 0.125%, 10/01/26		143		151,866
Capital Markets \| 0.4%
Coinbase Global, Inc., 0.500%, 06/01/26		43		47,269
Communications Equipment \| 0.8%
Lumentum Holdings, Inc., 0.500%, 06/15/28		123		95,542
Construction & Engineering \| 1.2%
Fluor Corp., 1.125%, 08/15/29		135		152,314
Consumer Staples Distribution & Retail \| 1.0%
Chefs’ Warehouse, Inc., 2.375%, 12/15/28		107		117,647
Diversified REITs \| 1.5%
Welltower OP LLC, 2.750%, 05/15/28		166		185,605
Electric Utilities \| 3.1%
Alliant Energy Corp., 3.875%, 03/15/26		84		83,034
PG&E Corp., 4.250%, 12/01/27		176		177,012

Description	Principal Amount (000)		Fair Value
Southern Co., 3.875%, 12/15/25	$	128	$	127,520
				387,566
Electrical Equipment \| 0.4%
Bloom Energy Corp., 3.000%, 06/01/28		50		45,563
Entertainment \| 2.6%
Cinemark Holdings, Inc., 4.500%, 08/15/25		21		29,217
Live Nation Entertainment, Inc., 2.000%, 02/15/25		268		297,989
				327,206
Financial Services \| 1.6%
Global Payments, Inc., 1.500%, 03/01/31		152		161,424
Shift4 Payments, Inc., 0.000%, 12/15/25		35		37,625
				199,049
Ground Transportation \| 2.7%
Uber Technologies, Inc., 0.000%, 12/15/25		301		339,377
Health Care Equipment & Supplies \| 5.8%
Dexcom, Inc., 0.250%, 11/15/25		260		286,359
Enovis Corp., 3.875%, 10/15/28		80		102,760
Insulet Corp., 0.375%, 09/01/26		85		88,676
Integra LifeSciences Holdings Corp., 0.500%, 08/15/25		91		87,051
Shockwave Medical, Inc., 1.000%, 08/15/28		78		99,937
TransMedics Group, Inc., 1.500%, 06/01/28		57		62,755
				727,538
Health Care Technology \| 1.3%
Teladoc Health, Inc., 1.250%, 06/01/27		188		158,860
Hotels, Restaurants & Leisure \| 7.0%
Airbnb, Inc., 0.000%, 03/15/26		192		179,025
Booking Holdings, Inc., 0.750%, 05/01/25		94		181,890
Carnival Corp., 5.750%, 10/01/24		45		75,515
Marriott Vacations Worldwide Corp., 0.000%, 01/15/26		103		98,107

Description	Principal Amount (000)		Fair Value
Lazard US Convertibles Portfolio (continued)
NCL Corp. Ltd., 5.375%, 08/01/25	$	120	$	157,440
Pebblebrook Hotel Trust, 1.750%, 12/15/26		90		81,171
Vail Resorts, Inc., 0.000%, 01/01/26		103		94,760
				867,908
Independent Power & Renewable Electricity Producers \| 0.5%
NextEra Energy Partners LP, 0.000%, 11/15/25		74		65,953
Interactive Media & Services \| 4.3%
Match Group Financeco 3, Inc., 2.000%, 01/15/30		250		215,636
Snap, Inc., 0.750%, 08/01/26		213		204,853
Ziff Davis, Inc., 1.750%, 11/01/26		120		114,144
				534,633
IT Services \| 6.9%
Akamai Technologies, Inc., 0.375%, 09/01/27		209		221,018
Block, Inc., 0.125%, 03/01/25		171		175,489
Cloudflare, Inc., 0.000%, 08/15/26		274		257,491
MongoDB, Inc., 0.250%, 01/15/26		73		128,165
Okta, Inc., 0.125%, 09/01/25		84		80,850
				863,013
Leisure Products \| 2.1%
Royal Caribbean Cruises Ltd., 6.000%, 08/15/25		93		264,771
Machinery \| 0.7%
Middleby Corp., 1.000%, 09/01/25		66		86,856
Media \| 4.4%
Cable One, Inc., 1.125%, 03/15/28		117		88,405
Liberty Broadband Corp., 3.125%, 03/31/53		225		214,042
Liberty Media Corp., 3.750%, 03/15/28		139		170,901
Liberty Media Corp.-Liberty Formula One, 2.250%, 08/15/27		67		68,854
				542,202

Description	Principal Amount (000)		Fair Value
Multi-Utilities \| 1.8%
CMS Energy Corp., 3.375%, 05/01/28	$	224	$	220,864
Oil, Gas & Consumable Fuels \| 1.8%
Pioneer Natural Resources Co., 0.250%, 05/15/25		77		220,555
Passenger Airlines \| 2.5%
American Airlines Group, Inc., 6.500%, 07/01/25		120		139,380
Southwest Airlines Co., 1.250%, 05/01/25		164		166,583
				305,963
Professional Services \| 1.0%
Parsons Corp., 2.625%, 03/01/29		114		123,975
Real Estate Management & Development \| 1.4%
Zillow Group, Inc., 1.375%, 09/01/26		144		178,830
Semiconductors & Semiconductor Equipment \| 5.1%
Enphase Energy, Inc., 0.000%, 03/01/26		151		139,335
Microchip Technology, Inc., 0.125%, 11/15/24		132		140,712
ON Semiconductor Corp., 0.500%, 03/01/29		265		262,085
Wolfspeed, Inc., 0.250%, 02/15/28		161		94,749
				636,881
Software \| 11.7%
Bill Holdings, Inc., 0.000%, 12/01/25		98		91,728
Five9, Inc., 0.500%, 06/01/25		109		102,874
HubSpot, Inc., 0.375%, 06/01/25		49		109,981
MicroStrategy, Inc., 0.750%, 12/15/25		44		188,980
Nutanix, Inc., 0.250%, 10/01/27		139		170,970
Palo Alto Networks, Inc., 0.375%, 06/01/25		133		380,247
Tyler Technologies, Inc., 0.250%, 03/15/26		141		142,339
Workiva, Inc., 1.250%, 08/15/28		172		160,562
Zscaler, Inc., 0.125%, 07/01/25		80		109,396
				1,457,077

Description	Principal Amount (000)		Fair Value
Lazard US Convertibles Portfolio (continued)
Specialty Retail \| 1.0%
Wayfair, Inc., 3.250%, 09/15/27	$	96	$	126,480
Technology Hardware, Storage & Peripherals \| 2.6%
Seagate HDD Cayman, 3.500%, 06/01/28		153		194,539
Western Digital Corp., 3.000%, 11/15/28		88		129,184
				323,723
Total Convertible Corporate Bonds (Cost $10,428,934)				11,035,294

Description	Shares		Fair Value
Preferred Stocks \| 7.6%
Banks \| 4.2%
Bank of America Corp. Series L		293	$	349,766
Wells Fargo & Co., Series L		145		176,805
				526,571
Electric Utilities \| 1.1%
NextEra Energy, Inc.		3,602		140,226
Financial Services \| 1.4%
Apollo Global Management, Inc.		2,652		169,065
Machinery \| 0.9%
Chart Industries, Inc., Series B		1,698		109,029
Total Preferred Stocks (Cost $942,939)				944,891
Short-Term Investments \| 2.7%
State Street Institutional Treasury Money Market Fund, Premier Class, 5.24% (7 day yield) (Cost $340,157)		340,157		340,157
Total Investments \| 98.9% (Cost $11,712,030)			$	12,320,342
Cash and Other Assets in Excess of Liabilities \| 1.1%				138,758
Net Assets \| 100.0%			$	12,459,100

Lazard US Convertibles Portfolio (concluded)

Futures Contracts open at March 31, 2024:

Financial Futures		Number of Contracts		Notional Amount		Expiration Date		Notional Cost				Fair Value				Unrealized Appreciation
CME E-Mini S&P 500 Index		1		$50		06/21/24		$	259,583			$	265,425			$	5,842

Description	Principal Amount (000)		Fair Value
Lazard US High Yield Portfolio
Corporate Bonds \| 95.7%
Aerospace & Defense \| 3.0%
Bombardier, Inc.:
7.125%, 06/15/26 (#)	$	1,250	$	1,267,991
8.750%, 11/15/30 (#)		2,250		2,402,496
TransDigm, Inc.:
6.750%, 08/15/28 (#)		1,000		1,013,198
4.625%, 01/15/29		500		464,003
				5,147,688
Automobile Components \| 1.5%
American Axle & Manufacturing, Inc., 5.000%, 10/01/29		1,000		900,665
Goodyear Tire & Rubber Co.:
5.000%, 05/31/26		250		244,688
5.250%, 07/15/31		1,500		1,367,379
				2,512,732
Automobiles \| 0.6%
Jaguar Land Rover Automotive PLC, 4.500%, 10/01/27 (#)		1,000		945,450
Building Products \| 2.1%
Builders FirstSource, Inc., 4.250%, 02/01/32 (#)		2,000		1,793,740
Griffon Corp., 5.750%, 03/01/28		1,750		1,713,646
				3,507,386
Chemicals \| 2.4%
Methanex Corp., 5.125%, 10/15/27		1,750		1,692,651
NOVA Chemicals Corp., 4.250%, 05/15/29 (#)		1,750		1,498,759
WR Grace Holdings LLC, 4.875%, 06/15/27 (#)		1,000		950,381
				4,141,791
Commercial Services & Supplies \| 3.8%
ADT Security Corp., 4.125%, 08/01/29 (#)		250		229,043
Clean Harbors, Inc., 4.875%, 07/15/27 (#)		2,000		1,940,003
GFL Environmental, Inc., 3.500%, 09/01/28 (#)		1,750		1,602,988
Prime Security Services Borrower LLC/Prime Finance, Inc., 3.375%, 08/31/27 (#)		1,500		1,377,786

Description	Principal Amount (000)		Fair Value
Valvoline, Inc., 3.625%, 06/15/31 (#)	$	1,500	$	1,293,014
				6,442,834
Construction Materials \| 1.0%
James Hardie International Finance DAC, 5.000%, 01/15/28 (#)		1,760		1,714,674
Consumer Staples Distribution & Retail \| 2.9%
Albertsons Cos., Inc./Safeway, Inc./New Albertsons LP/Albertsons LLC, 3.500%, 03/15/29 (#)		2,000		1,795,169
Performance Food Group, Inc., 4.250%, 08/01/29 (#)		1,800		1,649,542
U.S. Foods, Inc., 4.625%, 06/01/30 (#)		1,500		1,391,533
				4,836,244
Containers & Packaging \| 3.8%
Ardagh Metal Packaging Finance USA LLC/Ardagh Metal Packaging Finance PLC, 4.000%, 09/01/29 (#)		1,200		967,262
Ardagh Packaging Finance PLC/Ardagh Holdings USA, Inc., 4.125%, 08/15/26 (#)		1,200		1,085,657
Graphic Packaging International LLC, 3.500%, 03/15/28 (#)		1,600		1,477,172
Sealed Air Corp./Sealed Air Corp. U.S., 6.125%, 02/01/28 (#)		1,000		1,002,075
Silgan Holdings, Inc., 4.125%, 02/01/28		1,996		1,888,568
				6,420,734
Diversified Consumer Services \| 1.1%
Service Corp. International, 4.625%, 12/15/27		2,000		1,932,895
Diversified REITs \| 4.4%
HAT Holdings I LLC/HAT Holdings II LLC, 3.375%, 06/15/26 (#)		1,500		1,412,858
Iron Mountain, Inc.:
4.875%, 09/15/29 (#)		500		469,095
4.500%, 02/15/31 (#)		1,250		1,127,797
Park Intermediate Holdings LLC/PK Domestic Property LLC/PK Finance Co-Issuer, 4.875%, 05/15/29 (#)		1,500		1,394,883
RHP Hotel Properties LP/RHP Finance Corp., 4.500%, 02/15/29 (#)		1,750		1,634,064
SBA Communications Corp., 3.125%, 02/01/29		1,500		1,323,758
				7,362,455

Description	Principal Amount (000)		Fair Value
Lazard US High Yield Portfolio (continued)
Diversified Telecommunication Services \| 2.3%
Connect Finco Sarl/Connect U.S. Finco LLC, 6.750%, 10/01/26 (#)	$	1,500	$	1,470,000
Frontier Communications Holdings LLC, 8.750%, 05/15/30 (#)		1,500		1,534,834
Hughes Satellite Systems Corp., 5.250%, 08/01/26		1,091		907,998
				3,912,832
Electric Utilities \| 0.8%
NRG Energy, Inc., 3.625%, 02/15/31 (#)		1,500		1,294,437
Electrical Equipment \| 1.5%
Sensata Technologies, Inc.:
4.375%, 02/15/30 (#)		1,100		1,001,160
3.750%, 02/15/31 (#)		250		216,251
Vistra Operations Co. LLC, 4.375%, 05/01/29 (#)		1,500		1,389,577
				2,606,988
Entertainment \| 1.1%
Cinemark USA, Inc., 5.250%, 07/15/28 (#)		1,500		1,419,979
Live Nation Entertainment, Inc., 3.750%, 01/15/28 (#)		500		462,573
				1,882,552
Financial Services \| 0.9%
Suburban Propane Partners LP/Suburban Energy Finance Corp., 5.000%, 06/01/31 (#)		1,750		1,595,446
Food Products \| 3.4%
B&G Foods, Inc., 5.250%, 04/01/25		526		523,072
Lamb Weston Holdings, Inc., 4.125%, 01/31/30 (#)		2,000		1,823,606
Post Holdings, Inc., 4.500%, 09/15/31 (#)		2,000		1,798,984
TreeHouse Foods, Inc., 4.000%, 09/01/28		1,750		1,569,773
				5,715,435
Gas Utilities \| 0.9%
AmeriGas Partners LP/AmeriGas Finance Corp., 9.375%, 06/01/28 (#)		1,500		1,553,265
Health Care Equipment & Supplies \| 2.7%
Avantor Funding, Inc., 3.875%, 11/01/29 (#)		1,500		1,352,159

Description	Principal Amount (000)		Fair Value
Hologic, Inc., 4.625%, 02/01/28 (#)	$	2,000	$	1,925,474
Medline Borrower LP, 3.875%, 04/01/29 (#)		1,500		1,365,310
				4,642,943
Health Care Providers & Services \| 2.5%
Encompass Health Corp., 4.625%, 04/01/31		1,849		1,681,112
Legacy LifePoint Health LLC, 4.375%, 02/15/27 (#)		1,250		1,191,144
Tenet Healthcare Corp., 4.375%, 01/15/30		1,500		1,386,408
				4,258,664
Hotels, Restaurants & Leisure \| 7.3%
1011778 BC ULC/New Red Finance, Inc., 3.875%, 01/15/28 (#)		2,100		1,973,610
Boyd Gaming Corp.:
4.750%, 12/01/27		850		818,836
4.750%, 06/15/31 (#)		1,250		1,148,684
Carnival Corp., 7.625%, 03/01/26 (#)		1,500		1,517,639
Cedar Fair LP/Canada’s Wonderland Co./Magnum Management Corp./Millennium Op, 5.375%, 04/15/27		1,550		1,526,836
Hilton Domestic Operating Co., Inc., 3.625%, 02/15/32 (#)		2,000		1,722,004
MGM Resorts International, 4.625%, 09/01/26		800		782,604
Station Casinos LLC, 4.625%, 12/01/31 (#)		1,750		1,572,891
Travel & Leisure Co., 4.500%, 12/01/29 (#)		1,500		1,379,300
				12,442,404
Household Durables \| 0.9%
Tempur Sealy International, Inc., 4.000%, 04/15/29 (#)		1,750		1,588,143
Household Products \| 0.7%
Energizer Holdings, Inc., 4.750%, 06/15/28 (#)		1,200		1,111,438
Independent Power & Renewable Electricity Producers \| 1.8%
Calpine Corp., 4.500%, 02/15/28 (#)		1,500		1,422,710
NextEra Energy Operating Partners LP, 4.500%, 09/15/27 (#)		1,750		1,637,938
				3,060,648

Description	Principal Amount (000)		Fair Value
Lazard US High Yield Portfolio (continued)
Interactive Media & Services \| 0.8%
Ziff Davis, Inc., 4.625%, 10/15/30 (#)	$	1,500	$	1,352,239
Machinery \| 5.1%
Allison Transmission, Inc., 4.750%, 10/01/27 (#)		1,795		1,727,429
Amsted Industries, Inc.:
5.625%, 07/01/27 (#)		750		738,737
4.625%, 05/15/30 (#)		1,000		913,248
Mueller Water Products, Inc., 4.000%, 06/15/29 (#)		2,000		1,814,063
Terex Corp., 5.000%, 05/15/29 (#)		2,000		1,888,175
Vertiv Group Corp., 4.125%, 11/15/28 (#)		1,750		1,628,273
				8,709,925
Media \| 10.1%
CCO Holdings LLC/CCO Holdings Capital Corp.:
5.125%, 05/01/27 (#)		500		476,386
4.750%, 03/01/30 (#)		1,500		1,287,961
Lamar Media Corp., 3.625%, 01/15/31		1,500		1,316,145
Nexstar Media, Inc., 5.625%, 07/15/27 (#)		1,500		1,438,980
Outfront Media Capital LLC/Outfront Media Capital Corp., 5.000%, 08/15/27 (#)		2,300		2,213,659
Scripps Escrow II, Inc., 3.875%, 01/15/29 (#)		1,500		1,192,753
Sinclair Television Group, Inc., 5.125%, 02/15/27 (#)		1,750		1,592,565
Sirius XM Radio, Inc.:
5.000%, 08/01/27 (#)		1,750		1,683,644
3.875%, 09/01/31 (#)		1,000		833,814
TEGNA, Inc., 5.000%, 09/15/29		1,750		1,568,760
Univision Communications, Inc., 6.625%, 06/01/27 (#)		1,750		1,711,561
Virgin Media Secured Finance PLC, 4.500%, 08/15/30 (#)		2,000		1,724,698
				17,040,926
Metals & Mining \| 1.8%
FMG Resources August 2006 Pty. Ltd., 4.500%, 09/15/27 (#)		1,750		1,681,067
Novelis Corp., 4.750%, 01/30/30 (#)		1,500		1,383,934
				3,065,001

Description	Principal Amount (000)		Fair Value
Mortgage Real Estate Investment Trusts (REITs) \| 1.0%
Starwood Property Trust, Inc., 3.625%, 07/15/26 (#)	$	1,743	$	1,635,386
Oil, Gas & Consumable Fuels \| 10.5%
Buckeye Partners LP, 4.500%, 03/01/28 (#)		1,500		1,425,028
Civitas Resources, Inc., 8.750%, 07/01/31 (#)		2,000		2,140,120
CVR Energy, Inc., 8.500%, 01/15/29 (#)		1,500		1,518,790
DT Midstream, Inc., 4.375%, 06/15/31 (#)		1,350		1,222,592
Genesis Energy LP/Genesis Energy Finance Corp., 8.000%, 01/15/27		1,000		1,011,628
Hess Midstream Operations LP, 4.250%, 02/15/30 (#)		1,850		1,699,979
Range Resources Corp., 4.750%, 02/15/30 (#)		1,750		1,631,613
Southwestern Energy Co.:
5.700%, 01/23/25		1,800		1,791,564
4.750%, 02/01/32		250		230,139
Sunoco LP/Sunoco Finance Corp., 4.500%, 04/30/30		2,000		1,831,442
Tallgrass Energy Partners LP/Tallgrass Energy Finance Corp., 5.500%, 01/15/28 (#)		1,250		1,204,353
Transocean, Inc., 8.750%, 02/15/30 (#)		2,070		2,158,339
				17,865,587
Passenger Airlines \| 0.6%
United Airlines Pass-Through Trust, Series 2012-1, Class A, 4.150%, 10/11/25		966		965,608
Software \| 2.2%
Clarivate Science Holdings Corp., 3.875%, 07/01/28 (#)		1,200		1,110,231
Cloud Software Group, Inc.:
6.500%, 03/31/29 (#)		1,000		948,961
9.000%, 09/30/29 (#)		1,000		959,117
NCR Voyix Corp., 5.125%, 04/15/29 (#)		750		695,590
				3,713,899
Specialty Retail \| 3.4%
Asbury Automotive Group, Inc.:
4.500%, 03/01/28		987		939,708
5.000%, 02/15/32 (#)		750		679,532
Fertitta Entertainment LLC/Fertitta Entertainment Finance Co., Inc.:
4.625%, 01/15/29 (#)		500		458,488
6.750%, 01/15/30 (#)		1,250		1,122,390

Description	Principal Amount (000)		Fair Value
Lazard US High Yield Portfolio (concluded)
Group 1 Automotive, Inc., 4.000%, 08/15/28 (#)	$	1,000	$	921,645
Penske Automotive Group, Inc., 3.750%, 06/15/29		1,750		1,569,442
				5,691,205
Technology Hardware, Storage & Peripherals \| 2.9%
NCR Atleos Corp., 9.500%, 04/01/29 (#)		1,000		1,069,609
Seagate HDD Cayman, 4.091%, 06/01/29		2,083		1,917,881
Western Digital Corp., 4.750%, 02/15/26		2,000		1,953,767
				4,941,257
Trading Companies & Distributors \| 3.9%
American Builders & Contractors Supply Co., Inc., 4.000%, 01/15/28 (#)		1,100		1,029,859
Avis Budget Car Rental LLC/Avis Budget Finance, Inc., 5.750%, 07/15/27 (#)		2,000		1,935,902
Herc Holdings, Inc., 5.500%, 07/15/27 (#)		2,000		1,964,378
Standard Industries, Inc., 3.375%, 01/15/31 (#)		2,000		1,676,927
				6,607,066
Total Corporate Bonds (Cost $172,461,808)				162,218,177

Description	Shares		Fair Value
Exchange-Traded Funds \| 1.8%
iShares iBoxx $ High Yield Corporate Bond ETF (Cost $3,009,906)		38,882	$	3,022,298
Short-Term Investments \| 1.3%
State Street Institutional Treasury Money Market Fund, Premier Class, 5.24% (7 day yield) (Cost $2,208,994)		2,208,994		2,208,994
Total Investments \| 98.8% (Cost $177,680,708)			$	167,449,469
Cash and Other Assets in Excess of Liabilities \| 1.2%				2,050,997
Net Assets \| 100.0%			$	169,500,466

Description	Principal Amount (000)		Fair Value
Lazard US Short Duration Fixed Income Portfolio
Asset-Backed Securities \| 10.5%
Financial Services \| 4.6%
AMSR Trust, Series 2020-SFR4, Class A, 1.355%, 11/17/37 (#)	$	750	$	702,913
CF Hippolyta Issuer LLC, Series 2021-1A, Class A1, 1.530%, 03/15/61 (#)		471		426,113
New Economy Assets Phase 1 Sponsor LLC, Series 2021-1, Class A1, 1.910%, 10/20/61 (#)		500		437,871
				1,566,897
Real Estate Management & Development \| 4.0%
Progress Residential Trust, Series 2020-SFR3, Class A, 1.294%, 10/17/27 (#)		742		695,623
Tricon Residential Trust, Series 2021-SFR1, Class A, 1.943%, 07/17/38		749		693,783
				1,389,406
Specialty Retail \| 1.9%
CARS-DB4 LP, Series 2020-1A, Class A1, 2.690%, 02/15/50 (#)		665		646,097
Total Asset-Backed Securities (Cost $3,546,249)				3,602,400
Corporate Bonds \| 24.7%
Automobiles \| 2.3%
American Honda Finance Corp., 5.250%, 07/07/26		800		804,587
Banks \| 11.5%
Bank of America Corp., 4.000%, 01/22/25		1,050		1,036,046
Citigroup, Inc., 2.014% (SOFR + 0.694%), 01/25/26 (§)		1,075		1,042,308
Goldman Sachs Group, Inc., 3.500%, 04/01/25		900		882,962
JPMorgan Chase & Co., 2.301% (SOFR + 1.160%), 10/15/25 (§)		1,000		982,381
				3,943,697
Biotechnology \| 2.0%
Amgen, Inc., 5.250%, 03/02/25		675		672,954
Consumer Finance \| 2.9%
American Express Co., 2.500%, 07/30/24		1,000		989,744
Diversified Telecommunication Services \| 2.0%
T-Mobile USA, Inc., 2.625%, 04/15/26		725		688,676

Description	Principal Amount (000)		Fair Value
Oil, Gas & Consumable Fuels \| 2.0%
Phillips 66 Co., 3.605%, 02/15/25	$	700	$	688,270
Software \| 2.0%
Oracle Corp., 2.500%, 04/01/25		700		678,887
Total Corporate Bonds (Cost $8,460,013)				8,466,815
Mortgage-Backed Securities \| 1.8%
Federal Home Loan Mortgage Corp. 4.250%, 08/14/26 (Cost $641,272)		650		638,989
U.S. Treasury Securities \| 61.8%
U.S. Treasury Notes:
4.625%, 02/28/26		4,115		4,111,624
4.125%, 06/15/26		6,605		6,539,982
4.375%, 12/15/26		10,590		10,563,939
(Cost $21,314,207)				21,215,545

Description	Shares		Fair Value
Short-Term Investments \| 0.5%
State Street Institutional Treasury Money Market Fund, Premier Class, 5.24% (7 day yield) (Cost $165,130)		165,130	$	165,130
Total Investments \| 99.3% (Cost $34,126,871)			$	34,088,879
Cash and Other Assets in Excess of Liabilities \| 0.7%				241,356
Net Assets \| 100.0%			$	34,330,235

Description	Shares		Fair Value
Lazard Enhanced Opportunities Portfolio
Common Stocks \| 0.5%
Singapore \| 0.0%
Sea Ltd. ADR (*)		71	$	3,813
United States \| 0.5%
EchoStar Corp., Class A (*), (±)		341		4,859
Harmonic, Inc. (*), (±)		965		12,970
JetBlue Airways Corp. (*), (±)		110		816
Maxeon Solar Technologies Ltd. (*), (±)		6,127		20,403
Penn Entertainment, Inc. (*), (±)		2,386		43,449
Rivian Automotive, Inc., Class A (*), (±)		3,395		37,175
Shift4 Payments, Inc., Class A (*), (±)		1,068		70,563
				190,235
Total Common Stocks (Cost $209,736)				194,048

Description	Security Currency	Principal Amount (000)		Fair Value
Convertible Corporate Bonds \| 131.5%
Austria \| 0.8%
ams-OSRAM AG, 2.125%, 11/03/27 (±)	EUR		400	$	313,730
Brazil \| 0.3%
GOL Equity Finance SA, 3.750%, 07/15/24 (#), («), (±)	USD		829		116,060
Canada \| 4.7%
Ivanhoe Mines Ltd., 2.500%, 04/15/26 (±)	USD		347		559,433
Shopify, Inc., 0.125%, 11/01/25 (±)	USD		1,181		1,124,312
SSR Mining, Inc., 2.500%, 04/01/39 (±)	USD		2		1,793
StorageVault Canada, Inc., 5.000%, 03/31/28 (±)	CAD		121		83,969
					1,769,507
Hong Kong \| 2.2%
Cathay Pacific Finance III Ltd., 2.750%, 02/05/26 (±)	HKD		6,000		841,329
Netherlands \| 0.8%
Pharming Group NV, 3.000%, 01/21/25 (±)	EUR		300		318,446
Singapore \| 0.3%
Sea Ltd.:
2.375%, 12/01/25 (±)	USD		79		79,395
0.250%, 09/15/26 (±)	USD		19		16,331
					95,726

Description	Security Currency	Principal Amount (000)		Fair Value
United Kingdom \| 0.5%
Just Eat Takeaway.com NV, 1.250%, 04/30/26 (±)	EUR		200	$	196,065
United States \| 121.9%
Advanced Energy Industries, Inc., 2.500%, 09/15/28 (±)	USD		19		19,416
Air Transport Services Group, Inc., 3.875%, 08/15/29 (±)	USD		207		172,283
Airbnb, Inc., 0.000%, 03/15/26 (±)	USD		209		194,876
American Airlines Group, Inc., 6.500%, 07/01/25 (±)	USD		9		10,454
Amyris, Inc., 1.500%, 11/15/26 («), (±)	USD		938		37,051
Apellis Pharmaceuticals, Inc., 3.500%, 09/15/26 (±)	USD		145		236,573
Arbor Realty Trust, Inc., 7.500%, 08/01/25 (±)	USD		709		698,152
Bentley Systems, Inc., 0.375%, 07/01/27 (±)	USD		84		75,754
Bill Holdings, Inc., 0.000%, 12/01/25 (±)	USD		627		586,872
BioMarin Pharmaceutical, Inc., 0.599%, 08/01/24 (±)	USD		794		781,614
Blackline, Inc., 0.125%, 08/01/24 (±)	USD		280		286,917
BlackLine, Inc., 0.000%, 03/15/26 (±)	USD		710		645,969
Block, Inc.:
0.125%, 03/01/25 (±)	USD		1,067		1,095,009
0.000%, 05/01/26 (±)	USD		145		130,225
Bloom Energy Corp.:
2.500%, 08/15/25 (±)	USD		1,154		1,222,663
3.000%, 06/01/28 (±)	USD		19		17,314
Bread Financial Holdings, Inc., 4.250%, 06/15/28 (±)	USD		322		376,933
Burlington Stores, Inc., 2.250%, 04/15/25 (±)	USD		295		347,923
Cardlytics, Inc., 4.250%, 04/01/29	USD		167		183,074
Carnival Corp., 5.750%, 10/01/24 (±)	USD		455		763,535
Century Aluminum Co., 2.750%, 05/01/28 (±)	USD		219		223,489
Cerence, Inc., 3.000%, 06/01/25 (±)	USD		98		95,991
Chart Industries, Inc., 1.000%, 11/15/24 (±)	USD		559		1,571,852
Cheesecake Factory, Inc., 0.375%, 06/15/26 (±)	USD		80		71,596

Description	Security Currency	Principal Amount (000)		Fair Value
Lazard Enhanced Opportunities Portfolio (continued)
Chefs’ Warehouse, Inc., 2.375%, 12/15/28 (±)	USD		378	$	415,611
Chegg, Inc., 0.125%, 03/15/25 (±)	USD		360		337,140
Coherus Biosciences, Inc., 1.500%, 04/15/26 (±)	USD		527		338,731
Coinbase Global, Inc.:
0.500%, 06/01/26 (±)	USD		136		149,503
0.250%, 04/01/30 (±)	USD		115		121,718
Confluent, Inc., 0.000%, 01/15/27 (±)	USD		209		180,018
CONMED Corp., 2.250%, 06/15/27 (±)	USD		414		379,348
CSG Systems International, Inc., 3.875%, 09/15/28 (±)	USD		404		399,595
Danimer Scientific, Inc., 3.250%, 12/15/26 (±)	USD		146		19,170
Datadog, Inc., 0.125%, 06/15/25 (±)	USD		24		33,936
Dayforce, Inc., 0.250%, 03/15/26 (±)	USD		142		130,640
Desktop Metal, Inc., 6.000%, 05/15/27 (±)	USD		336		243,271
DigitalOcean Holdings, Inc., 0.000%, 12/01/26 (±)	USD		1,109		934,998
DraftKings Holdings, Inc., 0.000%, 03/15/28 (±)	USD		209		181,308
Dropbox, Inc.:
0.000%, 03/01/26 (±)	USD		198		188,694
0.000%, 03/01/28 (±)	USD		84		78,803
Eagle Bulk Shipping, Inc., 5.000%, 08/01/24 (±)	USD		1,041		2,060,659
Encore Capital Group, Inc., 4.000%, 03/15/29 (±)	USD		502		471,880
Enphase Energy, Inc., 0.000%, 03/01/26 (±)	USD		314		289,743
Envestnet, Inc.:
0.750%, 08/15/25 (±)	USD		538		524,281
2.625%, 12/01/27 (±)	USD		9		9,554
Evolent Health, Inc., 3.500%, 12/01/29 (±)	USD		89		102,417
EZCORP, Inc.:
2.875%, 07/01/24 (±)	USD		637		710,553
3.750%, 12/15/29 (±)	USD		371		449,395
Fisker, Inc., 2.500%, 09/15/26 (±)	USD		772		7,720
Five9, Inc., 1.000%, 03/15/29 (±)	USD		10		10,375
Glaukos Corp., 2.750%, 06/15/27 (±)	USD		736		1,310,080

Description	Security Currency	Principal Amount (000)		Fair Value
Green Plains, Inc., 2.250%, 03/15/27 (±)	USD		325	$	332,930
Greenbrier Cos., Inc., 2.875%, 04/15/28 (±)	USD		714		794,004
Guidewire Software, Inc., 1.250%, 03/15/25 (±)	USD		1,038		1,202,523
Haemonetics Corp., 0.000%, 03/01/26 (±)	USD		61		56,309
Halozyme Therapeutics, Inc., 0.250%, 03/01/27 (±)	USD		188		167,291
Harmonic, Inc., 2.000%, 09/01/24 (±)	USD		325		513,577
Health Catalyst, Inc., 2.500%, 04/15/25 (±)	USD		42		39,711
INOTIV, Inc., 3.250%, 10/15/27 (±)	USD		420		255,618
Insmed, Inc., 0.750%, 06/01/28 (±)	USD		189		202,892
Insulet Corp., 0.375%, 09/01/26 (±)	USD		564		588,393
iRhythm Technologies, Inc., 1.500%, 09/01/29 (±)	USD		20		21,207
Ironwood Pharmaceuticals, Inc.:
0.750%, 06/15/24 (±)	USD		494		492,456
1.500%, 06/15/26 (±)	USD		84		85,531
Jamf Holding Corp., 0.125%, 09/01/26 (±)	USD		344		308,534
Jazz Investments I Ltd., 1.500%, 08/15/24 (±)	USD		538		531,140
Karyopharm Therapeutics, Inc., 3.000%, 10/15/25 (±)	USD		70		37,976
Lantheus Holdings, Inc., 2.625%, 12/15/27 (±)	USD		189		209,743
Liberty Interactive LLC:
4.000%, 11/15/29 (±)	USD		347		143,138
3.750%, 02/15/30 (±)	USD		1,033		421,002
Liberty Media Corp., 2.375%, 09/30/53 (±)	USD		672		784,560
Live Nation Entertainment, Inc., 3.125%, 01/15/29 (±)	USD		20		24,088
Livent Corp., 4.125%, 07/15/25 (±)	USD		478		635,740
Lyft, Inc., 0.625%, 03/01/29 (±)	USD		20		23,462
Marcus Corp., 5.000%, 09/15/25 (±)	USD		398		573,120
Marriott Vacations Worldwide Corp., 0.000%, 01/15/26 (±)	USD		846		805,815
Match Group Financeco 2, Inc., 0.875%, 06/15/26 (±)	USD		1,077		986,119

Description	Security Currency	Principal Amount (000)		Fair Value
Lazard Enhanced Opportunities Portfolio (continued)
Match Group Financeco 3, Inc., 2.000%, 01/15/30 (±)	USD		31	$	26,739
Maxeon Solar Technologies Ltd., 6.500%, 07/15/25 (±)	USD		531		289,407
Mesa Laboratories, Inc., 1.375%, 08/15/25 (±)	USD		409		386,504
MicroStrategy, Inc.:
0.000%, 02/15/27 (±)	USD		209		285,557
0.875%, 03/15/31 (±)	USD		20		20,390
Middleby Corp., 1.000%, 09/01/25 (±)	USD		963		1,267,308
Mirum Pharmaceuticals, Inc., 4.000%, 05/01/29 (±)	USD		18		20,374
Model N, Inc., 2.625%, 06/01/25 (±)	USD		51		55,814
Natera, Inc., 2.250%, 05/01/27 (±)	USD		369		903,029
NCL Corp. Ltd.:
5.375%, 08/01/25 (±)	USD		26		34,112
1.125%, 02/15/27 (±)	USD		352		333,731
NeoGenomics, Inc., 1.250%, 05/01/25 (±)	USD		642		622,339
Okta, Inc.:
0.125%, 09/01/25 (±)	USD		611		588,087
0.375%, 06/15/26 (±)	USD		723		665,883
Omnicell, Inc., 0.250%, 09/15/25 (±)	USD		52		49,009
OPKO Health, Inc., 3.750%, 01/15/29 (±)	USD		336		356,370
Pacira BioSciences, Inc., 0.750%, 08/01/25 (±)	USD		847		806,767
PAR Technology Corp., 2.875%, 04/15/26 (±)	USD		222		276,834
Pegasystems, Inc., 0.750%, 03/01/25 (±)	USD		1,386		1,331,253
PennyMac Corp. , 5.500%, 03/15/26 (±)	USD		360		343,368
Perficient, Inc., 0.125%, 11/15/26 (±)	USD		140		121,355
Plug Power, Inc., 7.000%, 06/01/26	USD		19		19,230
Porch Group, Inc., 0.750%, 09/15/26 (±)	USD		666		379,620
Progress Software Corp., 3.500%, 03/01/30 (±)	USD		20		20,300
PureCycle Technologies, Inc., 7.250%, 08/15/30 (±)	USD		59		33,071
Q2 Holdings, Inc., 0.750%, 06/01/26 (±)	USD		908		864,870
Rapid7, Inc., 1.250%, 03/15/29 (±)	USD		10		10,190

Description	Security Currency	Principal Amount (000)		Fair Value
Redfin Corp., 0.500%, 04/01/27 (±)	USD		190	$	106,400
Repay Holdings Corp., 0.000%, 02/01/26 (±)	USD		637		592,783
RingCentral, Inc., 0.000%, 03/15/26 (±)	USD		279		252,774
Rocket Lab USA, Inc., 4.250%, 02/01/29 (±)	USD		20		21,263
Seagate HDD Cayman, 3.500%, 06/01/28 (±)	USD		10		12,715
Shift Technologies, Inc., 4.750%, 05/15/26 («), (±)	USD		850		10,413
Shift4 Payments, Inc.:
0.000%, 12/15/25 (±)	USD		111		119,325
0.500%, 08/01/27 (±)	USD		62		57,815
SMART Global Holdings, Inc., 2.000%, 02/01/29 (±)	USD		197		272,355
Snap, Inc.:
0.250%, 05/01/25 (±)	USD		324		315,252
0.750%, 08/01/26 (±)	USD		449		431,826
0.000%, 05/01/27 (±)	USD		19		15,367
SoFi Technologies, Inc., 1.250%, 03/15/29 (±)	USD		20		20,180
Sphere Entertainment Co., 3.500%, 12/01/28 (±)	USD		39		60,768
Summit Hotel Properties, Inc., 1.500%, 02/15/26 (±)	USD		331		296,410
Super Micro Computer, Inc., 0.000%, 03/01/29 (±)	USD		209		232,404
Transocean, Inc., 4.625%, 09/30/29 (±)	USD		579		1,172,128
Unity Software, Inc., 0.000%, 11/15/26 (±)	USD		393		335,032
Varex Imaging Corp., 4.000%, 06/01/25 (±)	USD		576		639,706
Veeco Instruments, Inc.:
3.500%, 01/15/25 (±)	USD		63		95,117
3.750%, 06/01/27 (±)	USD		130		332,365
Vishay Intertechnology, Inc., 2.250%, 09/15/30 (±)	USD		48		46,080
Wayfair, Inc., 0.625%, 10/01/25 (±)	USD		314		291,643
Western Digital Corp., 3.000%, 11/15/28 (±)	USD		20		29,360
Winnebago Industries, Inc., 3.250%, 01/15/30 (±)	USD		135		146,374
WisdomTree, Inc., 5.750%, 08/15/28 (±)	USD		119		138,338

Description	Security Currency	Principal Amount (000)		Fair Value
Lazard Enhanced Opportunities Portfolio (continued)
Zillow Group, Inc., 1.375%, 09/01/26 (±)	USD		105	$	130,397
					46,447,656
Total Convertible Corporate Bonds (Cost $50,674,922)					50,098,519

Description	Counterparty	Number of Contracts	Exercise Price		Notional Amount		Fair Value
Purchased Options \| 0.1%
Call
Arcadium Lithium PLC, Expires 05/17/24	MSC	62	$	5	$	6,200	$	930
Beauty Health Co., Expires 05/17/24	MSC	39		5		3,900		1,755
Danimer Scientific, Inc., Expires 05/17/24	MSC	47		2		4,700		235
OPKO Health, Inc., Expires 05/17/24	MSC	204		1		20,400		5,100
OPKO Health, Inc., Expires 06/21/24	MSC	184		1		18,400		4,600
Revance Therapeutics, Inc., Expires 04/19/24	MSC	6		13		600		30
Shift4 Payments, Inc., Expires 05/17/24	MSC	11		90		1,100		1,188
Snap, Inc., Expires 04/19/24	MSC	42		26		4,200		903
Put
Bloom Energy Corp., Expires 04/19/24	MSC	21		10		2,100		462
Health Catalyst, Inc., Expires 05/17/24	MSC	40		8		4,000		2,800
Inotiv, Inc., Expires 07/19/24	MSC	36		5		3,600		180
Maxeon Solar Technologies, Ltd., Expires 06/21/24	MSC	50		3		5,000		2,750
NeoGenomics, Inc., Expires 05/17/24	MSC	20		13		2,000		500
OPKO Health, Inc., Expires 06/21/24	MSC	207		1		20,700		3,105
iShares Russell 2000 ETF, Expires 04/19/24	MSC	49		186		4,900		833
Total Purchased Options (Cost $29,138)								25,371

Description		Principal Amount (000)		Fair Value
U.S. Treasury Securities \| 36.8%
U.S. Treasury Bills:
0.000%, 04/11/24 (±)	USD		6,375	$	6,365,723
0.000%, 05/07/24	USD		2,715		2,700,750
0.000%, 05/07/24 (±)	USD		89		88,533
0.000%, 05/23/24 (±)	USD		805		798,896
0.000%, 05/23/24	USD		400		396,967
0.000%, 07/16/24 (±)	USD		3,080		3,032,774
U.S. Treasury Note, 4.125%, 10/31/27 (±)	USD		656		650,798
Total U.S. Treasury Securities (Cost $14,045,441)					14,034,441

Description	Shares		Fair Value
Short-Term Investments \| 3.7%
State Street Institutional Treasury Money Market Fund, Premier Class, 5.24% (7 day yield) (Cost $1,408,199)		1,408,199	$	1,408,199
Total Investments excluding Securities Sold Short \| 172.6% (Cost $66,367,436)			$	65,760,578
Securities Sold Short \| (88.8)%
Common Stocks \| (56.0)%
Canada \| (1.8)%
Ivanhoe Mines Ltd., Class A		(42,613)		(508,380)
Shopify, Inc., Class A		(1,966)		(151,716)
SSR Mining, Inc.		(495)		(2,208)
StorageVault Canada, Inc.		(6,339)		(24,147)
				(686,451)
Ghana \| (0.0)%
Kosmos Energy Ltd.		(277)		(1,651)
Hong Kong \| (1.4)%
Cathay Pacific Airways Ltd.		(471,000)		(535,343)
Jersey \| (1.1)%
Arcadium Lithium PLC		(96,907)		(417,669)
Netherlands \| (0.0)%
Pharming Group NV		(4,893)		(5,374)
United States \| (51.7)%
Advanced Energy Industries, Inc.		(84)		(8,566)
Air Transport Services Group, Inc.		(3,067)		(42,202)
Airbnb, Inc., Class A		(164)		(27,053)
American Airlines Group, Inc.		(322)		(4,943)
Anywhere Real Estate, Inc.		(179)		(1,106)
Apellis Pharmaceuticals, Inc.		(3,044)		(178,926)
Arbor Realty Trust, Inc. REIT		(13,023)		(172,555)
ATI, Inc.		(393)		(20,110)

Description	Shares		Fair Value
Lazard Enhanced Opportunities Portfolio (continued)
Bentley Systems, Inc., Class B		(379)	$	(19,791)
Bill Holdings, Inc.		(640)		(43,981)
BlackLine, Inc.		(920)		(59,414)
Block, Inc.		(2,696)		(228,028)
Bloom Energy Corp., Class A		(31,979)		(359,444)
Bread Financial Holdings, Inc.		(6,743)		(251,109)
Burlington Stores, Inc.		(889)		(206,417)
Cardlytics, Inc.		(6,487)		(93,997)
Carnival Corp.		(44,302)		(723,895)
Century Aluminum Co.		(10,907)		(167,859)
Cerence, Inc.		(78)		(1,228)
Chart Industries, Inc.		(9,462)		(1,558,581)
Cheesecake Factory, Inc.		(437)		(15,798)
Chefs’ Warehouse, Inc.		(6,222)		(234,321)
Cloudflare, Inc., Class A		(56)		(5,422)
Coherus Biosciences, Inc.		(3,064)		(7,323)
Coinbase Global, Inc. Class A		(459)		(121,690)
Collegium Pharmaceutical, Inc.		(105)		(4,076)
Confluent, Inc. Class A		(474)		(14,466)
CONMED Corp.		(1,019)		(81,602)
CSG Systems International, Inc.		(2,889)		(148,899)
Danimer Scientific, Inc.		(13,592)		(14,815)
Datadog, Inc., Class A		(2,802)		(346,327)
Dayforce, Inc.		(150)		(9,931)
Desktop Metal, Inc., Class A		(121,254)		(106,704)
DigitalOcean Holdings, Inc.		(549)		(20,961)
DraftKings, Inc. Class A		(894)		(40,597)
Dropbox, Inc., Class A Class A		(1,458)		(35,429)
Dynavax Technologies Corp.		(6,102)		(75,726)
Eagle Bulk Shipping, Inc.		(32,857)		(2,052,577)
Encore Capital Group, Inc.		(4,852)		(221,300)
Enphase Energy, Inc.		(242)		(29,277)
Envestnet, Inc.		(703)		(40,711)
Etsy, Inc.		(57)		(3,917)
Evolent Health, Inc., Class A		(1,745)		(57,219)
Expedia Group, Inc.		(43)		(5,923)
EZCORP, Inc. Class A		(80,128)		(907,850)
Five9, Inc.		(245)		(15,217)
Glaukos Corp.		(11,787)		(1,111,396)
Granite Construction, Inc.		(38)		(2,171)
Green Plains, Inc.		(6,651)		(153,771)
Greenbrier Cos., Inc.		(8,913)		(464,367)
Guess?, Inc.		(1)		(31)
Guidewire Software, Inc.		(5,923)		(691,273)
Haemonetics Corp.		(35)		(2,987)
Halozyme Therapeutics, Inc.		(803)		(32,666)

Description	Shares		Fair Value
Health Catalyst, Inc.		(762)	$	(5,738)
HubSpot, Inc.		(175)		(109,648)
Innoviva, Inc.		(155)		(2,362)
Inotiv, Inc.		(7,954)		(87,017)
Insmed, Inc.		(4,526)		(122,790)
Insulet Corp.		(1,361)		(233,275)
Integra LifeSciences Holdings Corp.		(41)		(1,453)
iRhythm Technologies, Inc.		(98)		(11,368)
Ironwood Pharmaceuticals, Inc.		(3,180)		(27,698)
Jamf Holding Corp.		(459)		(8,423)
Karyopharm Therapeutics, Inc.		(2,309)		(3,487)
Lantheus Holdings, Inc.		(1,558)		(96,970)
LCI Industries		(256)		(31,503)
Live Nation Entertainment, Inc.		(5,043)		(533,398)
Lyft, Inc., Class A		(636)		(12,307)
MannKind Corp.		(37)		(168)
Marcus Corp.		(35,031)		(499,542)
Marriott Vacations Worldwide Corp.		(1,533)		(165,150)
Match Group, Inc.		(2,256)		(81,848)
MicroStrategy, Inc., Class A		(128)		(218,184)
Middleby Corp.		(6,253)		(1,005,420)
Mirum Pharmaceuticals, Inc.		(437)		(10,977)
Mitek Systems, Inc.		(2,110)		(29,751)
Model N, Inc.		(742)		(21,125)
MongoDB, Inc.		(293)		(105,082)
Natera, Inc.		(9,036)		(826,433)
National Vision Holdings, Inc.		(926)		(20,520)
NeoGenomics, Inc.		(284)		(4,464)
Norwegian Cruise Line Holdings Ltd.		(23,610)		(494,157)
Okta, Inc.		(1,093)		(114,350)
OPKO Health, Inc.		(196,435)		(235,722)
Pacira BioSciences, Inc.		(411)		(12,009)
PAR Technology Corp.		(3,703)		(167,968)
Pebblebrook Hotel Trust REIT		(35)		(539)
Pegasystems, Inc.		(647)		(41,822)
PennyMac Mortgage Investment Trust REIT		(2,083)		(30,578)
PetIQ, Inc.		(1,188)		(21,717)
Plug Power, Inc.		(3,420)		(11,765)
Porch Group, Inc.		(17,197)		(74,119)
Progress Software Corp.		(175)		(9,329)
PureCycle Technologies, Inc.		(3,981)		(24,762)
Q2 Holdings, Inc.		(3,800)		(199,728)
Rapid7, Inc.		(97)		(4,757)
Redfin Corp.		(521)		(3,465)
Repay Holdings Corp.		(2,873)		(31,603)
Rocket Lab USA, Inc.		(3,122)		(12,831)

Description	Shares		Fair Value
Lazard Enhanced Opportunities Portfolio (continued)
Seagate Technology Holdings PLC		(92)	$	(8,561)
SMART Global Holdings, Inc.		(8,050)		(211,876)
Snap, Inc., Class A		(3,367)		(38,653)
SoFi Technologies, Inc.		(1,797)		(13,118)
Sphere Entertainment Co.		(989)		(48,540)
Spotify Technology SA		(13)		(3,431)
Summit Hotel Properties, Inc. REIT		(9,181)		(59,768)
Super Micro Computer, Inc.		(118)		(119,184)
Topgolf Callaway Brands Corp.		(2,815)		(45,519)
Transocean Ltd.		(153,698)		(965,223)
Travere Therapeutics, Inc.		(2,709)		(20,886)
Varex Imaging Corp.		(13,721)		(248,350)
Veeco Instruments, Inc.		(11,390)		(400,586)
Vishay Intertechnology, Inc.		(954)		(21,637)
Western Digital Corp.		(322)		(21,973)
Winnebago Industries, Inc.		(1,073)		(79,402)
WisdomTree, Inc.		(9,166)		(84,236)
Zillow Group, Inc. Class C		(1,446)		(70,536)
Zscaler, Inc.		(1,135)		(218,635)
				(19,693,381)
Total Common Stocks (Proceeds $19,670,212)				(21,339,869)

Description	Security Currency	Principal Amount (000)		Fair Value
Convertiable Corporate Bonds \| (0.2)%
United States \| (0.2)%
JetBlue Airways Corp., 0.500%, 04/01/26	USD		(19)	$	(16,681)
Rivian Automotive, Inc., 3.625%, 10/15/30	USD		(98)		(69,090)
Total Convertiable Corporate Bonds (Proceeds $81,288)					(85,771)

Description	Shares		Fair Value
Exchange-Traded Funds \| (3.8)%
iShares iBoxx $ High Yield Corporate Bond ETF		(5,335)	$	(414,690)
SPDR S&P 500 ETF Trust		(1,934)		(1,011,617)
(Proceeds $1,400,969)				(1,426,307)

Description	Security Currency	Principal Amount (000)		Fair Value
U.S. Treasury Securities \| (28.8)%
U.S. Treasury Bills, 0.000%, 04/09/24 (Proceeds $10,987,108)	USD		(11,000)	$	(10,987,187)
Total Securities Sold Short (Proceeds $32,139,577)					(33,839,134)
Total Investments \| 83.8% (Cost and short proceeds $34,227,859) (»)					31,921,444
Cash and Other Assets in Excess of Liabilities \| 16.2%					6,175,148
Net Assets \| 100.0%				$	38,096,592

Lazard Enhanced Opportunities Portfolio (continued)

Forward Currency Contracts open at March 31, 2024:

Currency Purchased	Quantity	Currency Sold	Quantity	Counterparty	Settlement Date	Unrealized Appreciation		Unrealized Depreciation
CAD	598,000	USD	440,892	SSB	06/26/24	$	1,122	$	—
USD	501,697	CAD	680,000	SSB	06/26/24		—		928
USD	1,026,692	EUR	945,000	SSB	06/26/24		3,696		—
USD	325,128	HKD	2,537,000	SSB	06/26/24		216		—
Total gross unrealized appreciation/depreciation on Forward Currency Contracts						$	5,034	$	928

Total Return Swap Agreements open at March 31, 2024:

Currency	Counterparty	Notional Amount		Expiration Date	Reference Entity^	Rate			Unrealized Appreciation		Unrealized Depreciation
Long Position Contract
USD	NIP	$	934,544	11/30/27	ATI, Inc., 3.500%, 06/15/25		5.32	%	$	287,032	$	—
USD	BNP		6,634	10/17/24	Beauty Health Co., 1.250%, 10/01/26		5.32			1,672		—
USD	BNP		225,870	10/17/24	Cheesecake Factory Inc. 0.375%, 06/15/26		5.32			12,186		—
USD	NIP		857,113	11/30/27	Cloudflare, Inc., 0.000%, 08/15/26		5.32			27,192		—
USD	BNP		272,778	10/17/24	Collegium Pharmaceutical, Inc., 2.875%, 02/15/29		5.32			94,575		—
USD	NIP		1,078,313	11/30/27	Datadog, Inc., 0.125%, 06/15/25		5.32			198,529		—
USD	NIP		1,177,115	11/30/27	Dynavax Technologies Corp., 0.125%, 06/15/25		5.32			—		71,742
USD	BNP		455,046	10/17/24	Encore Capital Group, Inc., 3.250%, 10/01/25		5.32			—		75,432
USD	BNP		35,744	10/17/24	Enphase Energy, Inc., 0.000%, 03/01/28		5.32			—		459
USD	BNP		198,217	10/17/24	Etsy, Inc., 0.125%, 10/01/26		5.32			—		80,335
USD	BNP		711,661	10/17/24	Evolent Health, Inc., 1.500%, 10/15/25		5.32			32,107		—
USD	BNP		638,126	10/17/24	Expedia Group, Inc., 0.000%, 02/15/26		5.32			814		—
USD	NIP		739,310	11/30/27	Five9, Inc., 0.500%, 06/01/25		5.32			630		—
USD	NIP		639,450	11/30/27	Fiverr International, Ltd., 0.000%, 11/01/25		5.32			23,888		—
USD	BNP		22,398	10/17/24	Granite Construction, Inc., 3.750%, 05/15/28		5.32			3,717		—
USD	BNP		232,209	10/17/24	Guess?, Inc., 3.750%, 04/15/28		5.32			11,438		—
USD	NIP		540,689	11/30/27	Health Catalyst, Inc.		5.32			3,916		—

Lazard Enhanced Opportunities Portfolio (continued)

Currency	Counterparty	Notional Amount		Expiration Date	Reference Entity^	Rate			Unrealized Appreciation		Unrealized Depreciation
USD	NIP	$	1,228,430	11/30/27	HubSpot, Inc., 0.375%, 06/01/25		5.32	%	$	257,429	$	—
USD	BNP		559,165	10/17/24	Innoviva, Inc., 2.125%, 03/15/28		5.32			38,596		—
USD	BNP		690,346	10/17/24	Integra LifeSciences Holdings Corp., 0.500%, 08/15/25		5.32			3,189		—
USD	NIP		148,546	11/30/27	Kosmos Energy Ltd., 3.125%, 03/15/30		5.32			816		—
USD	NIP		793,159	11/30/27	LCI Industries, 1.125%, 05/15/26		5.32			30,928		—
USD	NIP		902,220	11/30/27	Liberty Media Corp., 2.750%, 12/01/49		5.32			—		5,127
USD	BNP		665,082	10/17/24	Lyft, Inc., 1.500%, 05/15/25		5.32			—		725
USD	NIP		479,429	11/30/27	MannKind Corp., 2.500%, 03/01/26		5.32			—		5,377
USD	BNP		171,493	10/17/24	Marriott Vacations Worldwide Corp., 3.250%, 12/01/27		5.32			5,791		—
USD	NIP		26,081	11/30/27	MicroStrategy, Inc., 0.625%, 03/15/30		5.32			731		—
USD	BNP		352,982	10/17/24	Mitek Systems, Inc., 0.750%, 02/01/26		5.32			54,592		—
USD	BOA		3,223,870	02/12/25 – 03/21/25	MongoDB, Inc., 0.250%, 01/15/26		5.32			—		597,364
USD	NIP		292,740	11/30/27	National Vision Holdings, Inc., 2.500%, 05/15/25		5.32			10,103		—
USD	BNP		500,575	10/17/24	NCL Corp., Ltd., 5.375%, 08/01/25		5.32			95,073		—
USD	BNP		273,650	10/17/24	NCL Corp., Ltd., 6.000%, 05/15/24		5.32			64,061		—
USD	BNP		263,346	10/17/24	NCL Corp., Ltd., 1.125%, 02/15/27		5.32			35,305		—
USD	BNP		266,535	10/17/24	NCL Corp., Ltd., 2.500%, 02/15/27		5.32			10,912		—
USD	BNP		642,356	10/17/24	Pebblebrook Hotel Trust, 1.750%, 12/15/26		5.32			27,756		—
USD	NIP		819,978	11/30/27	Penn Entertainment, Inc., 2.750%, 05/15/26		5.32			—		78,778
USD	BNP		422,637	10/17/24	PetIQ, Inc., 4.000%, 06/01/26		5.32			9,927		—
USD	BNP		324,154	10/17/24	Q2 Holdings, Inc., 0.125%, 11/15/25		5.32			1,079		—
USD	NIP		42,724	11/30/27	Realogy Group LLC / Realogy Co-Issuer Corp., 0.250%, 06/15/26		5.32			1,936		—

Lazard Enhanced Opportunities Portfolio (continued)

Currency	Counterparty	Notional Amount		Expiration Date	Reference Entity^	Rate			Unrealized Appreciation		Unrealized Depreciation
USD	NIP	$	209,407	11/30/27	Repligen Corp., 1.000%, 12/15/28		5.32	%	$	—	$	9,645
USD	BNP		942,738	10/17/24	Sea, Ltd., 2.375%, 12/01/25		5.32			—		27,183
USD	BNP		1,154,594	10/17/24	Shift4 Payments, Inc., 0.000%, 12/15/25		5.32			—		95,719
USD	BNP		135,892	10/17/24	Shift4 Payments, Inc., 0.500%, 08/01/27		5.32			—		1,612
USD	NIP		418,017	11/30/27	Snap, Inc., 0.125%, 03/01/28		5.32			38,390		—
USD	BNP		188,386	10/17/24	SoFi Technologies, Inc., 0.000%, 10/15/26		5.32			15,078		—
USD	BNP		718,097	10/17/24	Spotify USA, Inc., 0.000%, 03/15/26		5.32			10,018		—
USD	NIP		690,357	11/30/27	Topgolf Callaway Brands Corp., 2.750%, 05/01/26		5.32			—		54,365
USD	NIP		509,923	11/30/27	Travere Therapeutics, Inc., 2.250%, 03/01/29		5.32			—		130,492
USD	NIP		10,718	11/30/27	Veeco Instruments, Inc., 2.875%, 06/01/29		5.32			1,859		—
USD	NIP		635,202	11/30/27	Zscaler, Inc., 0.125%, 07/01/25		5.32			134,673		—
Short Position Contract
USD	BNP		877	10/17/24	Anywhere Real Estate, Inc.		5.32			—		174
USD	NIP		623	11/30/27	Anywhere Real Estate, Inc.		5.32			—		137
USD	BOA		2,825	05/31/24	Arbor Realty Trust, Inc.		5.32			—		143
USD	NIP		885,030	11/30/27	ATI, Inc.		5.32			—		301,449
USD	BNP		30,885	10/17/24	Blackline, Inc.		5.32			—		6,830
USD	BNP		5,243	10/17/24	Cerence, Inc.		5.32			1,856		—
USD	BNP		13,835	10/17/24	Cheesecake Factory Inc.		5.32			—		1,385
USD	NIP		153,709	11/30/27	Cloudflare, Inc.		5.32			—		11,096
USD	BNP		47,579	10/17/24	Coherus Biosciences, Inc.		5.32			17,733		—
USD	BNP		160,824	10/17/24	Collegium Pharmaceutical, Inc.		5.32			—		98,144
USD	NIP		512,587	11/30/27	Datadog, Inc.		5.32			—		161,898
USD	NIP		694,128	11/30/27	Dynavax Technologies Corp.		5.32			—		13,689
USD	NIP		12,948	11/30/27	EchoStar Corp.		5.32			8,089		—
USD	BNP		360,183	10/17/24	Encore Capital Group, Inc.		5.32			71,973		—
USD	BNP		8,399	10/17/24	Enphase Energy, Inc.		5.32			293		—
USD	BNP		96,426	10/17/24	Etsy, Inc.		5.32			49,009		—
USD	BNP		380,137	10/17/24	Evolent Health, Inc.		5.32			—		38,264
USD	BNP		64,767	10/17/24	Expedia Group, Inc.		5.32			—		940
USD	BNP		8,267	10/17/24	Five9, Inc.		5.32			130		—
USD	NIP		6,309	11/30/27	Five9, Inc.		5.32			—		399
USD	BNP		14,058	10/17/24	Granite Construction, Inc.		5.32			—		3,349
USD	BOA		8,830	05/31/24	Greenbrier Cos. Inc.		5.32			—		8,102
USD	BNP		154,857	10/17/24	Guess?, Inc.		5.32			—		12,280
USD	BNP		314,666	10/17/24	Harmonic, Inc.		5.32			42,251		—

Lazard Enhanced Opportunities Portfolio (concluded)

Currency	Counterparty	Notional Amount		Expiration Date	Reference Entity^	Rate			Unrealized Appreciation		Unrealized Depreciation
USD	NIP	$	7,619	11/30/27	Health Catalyst, Inc.		5.32	%	$	872	$	—
USD	NIP		1,097,359	11/30/27	HubSpot, Inc.		5.32			—		237,840
USD	BNP		162,916	10/17/24	Innoviva, Inc.		5.32			—		17,784
USD	BNP		19,971	10/17/24	Integra LifeSciences Holdings Corp.		5.32			616		—
USD	BOA		346,538	05/31/24	iShares iBoxx $ High Yield Corporate Bond ETF		5.32			—		16,927
USD	BNP		1,052	10/17/24	Karyopharm Therapeutics, Inc.		5.32			—		795
USD	NIP		85,549	11/30/27	Kosmos Energy, Ltd.		5.32			—		143
USD	NIP		242,886	11/30/27	LCI Industries		5.32			—		10,741
USD	BNP		72,333	10/17/24	Lyft, Inc.		5.32			—		1,313
USD	NIP		215,574	11/30/27	MannKind Corp.		5.32			8,549		—
USD	BNP		66,443	10/17/24	Marriott Vacations Worldwide Corp.		5.32			—		5,844
USD	BNP		749,301	10/17/24	Maxeon Solar Technologies, Ltd.		5.32			656,418		—
USD	NIP		19,488	11/30/27	MicroStrategy, Inc.		5.32			—		967
USD	BNP		78,069	10/17/24	Mitek Systems, Inc.		5.32			—		26,567
USD	BOA		2,200,109	02/12/24 – 03/21/25	MongoDB, Inc.		5.32			12,763		—
USD	BNP		20,700	10/17/24	National Vision Holdings, Inc.		5.32			—		1,726
USD	NIP		33,763	11/30/27	National Vision Holdings, Inc.		5.32			501		—
USD	BNP		33,992	10/17/24	NeoGenomics, Inc.		5.32			2,662		—
USD	BNP		396,480	10/17/24	Norwegian Cruise Line Holdings, Ltd.		5.32			—		136,042
USD	BNP		14,199	10/17/24	Pacira BioSciences, Inc.		5.32			1,400		—
USD	BNP		173,878	10/17/24	Pebblebrook Hotel Trust		5.32			—		18,641
USD	NIP		446,048	11/30/27	Penn Entertainment, Inc.		5.32			96,452		—
USD	BNP		12,271	10/17/24	PennyMac Mortgage Investment Trust		5.32			—		1,397
USD	BNP		81,727	10/17/24	PetIQ, Inc.		5.32			—		13,183
USD	BNP		37,763	10/17/24	Q2 Holdings, Inc.		5.32			—		8,017
USD	BNP		420	10/17/24	Redfin Corp.		5.32			94		—
USD	NIP		129,401	11/30/27	Repligen Corp.		5.32			7,646		—
USD	BNP		255,700	10/17/24	Sea, Ltd.		5.32			17,764		—
USD	BNP		600,747	10/17/24	Shift4 Payments, Inc.		5.32			106,345		—
USD	NIP		105,806	11/30/27	Snap, Inc.		5.32			16,526		—
USD	BNP		23,147	10/17/24	SoFi Technologies, Inc.		5.32			1,685		—
USD	BNP		66,837	10/17/24	Spotify Technology SA		5.32			—		2,041
USD	NIP		327,460	11/30/27	Topgolf Callaway Brands Corp.		5.32			40,717		—
USD	BNP		1,330	10/17/24	Travere Therapeutics, Inc.		5.32			844		—
USD	NIP		144,167	11/30/27	Travere Therapeutics, Inc.		5.32			64,353		—
USD	NIP		7,018	11/30/27	Veeco Instruments, Inc.		5.32			—		1,809
USD	NIP		250,530	11/30/27	Zscaler, Inc.		5.32			—		101,983
Total gross unrealized appreciation/depreciation on Total Return Swap Agreements									$	2,773,479	$	2,496,394

For long position contracts the Portfolio receives appreciation and dividends/interest and pays depreciation of the referenced entity as well as financing charges at the referenced rate. For short position contracts, the Portfolio pays appreciation and dividends/interest and receives depreciation of the referenced entity as well as financing charges at the referenced rate.

Description	Shares		Fair Value
Lazard Global Dynamic Multi-Asset Portfolio
Common Stocks \| 60.9%
Australia \| 1.0%
Brambles Ltd.		2,005	$	21,141
Cochlear Ltd.		32		7,039
Coles Group Ltd.		745		8,240
Computershare Ltd. ADR		516		8,803
Fortescue Ltd.		279		4,676
GrainCorp Ltd., Class A		854		4,588
Northern Star Resources Ltd.		549		5,240
Perseus Mining Ltd.		5,908		8,369
Qantas Airways Ltd. (*)		1,374		4,885
REA Group Ltd.		50		6,044
Telstra Group Ltd.		4,868		12,255
Woolworths Group Ltd.		151		3,264
				94,544
Austria \| 0.1%
CA Immobilien Anlagen AG		84		2,968
Raiffeisen Bank International AG		220		4,394
				7,362
Bermuda \| 0.1%
Fidelis Insurance Holdings Ltd.		347		6,760
RenaissanceRe Holdings Ltd.		18		4,230
				10,990
Canada \| 2.2%
Brookfield Corp.		113		4,728
CGI, Inc. (*)		179		19,748
Constellation Software, Inc.		4		10,926
Dollarama, Inc.		418		31,843
Fairfax Financial Holdings Ltd.		14		15,091
Hydro One Ltd.		101		2,945
International Petroleum Corp. (*)		703		8,381
Loblaw Cos. Ltd.		120		13,298
Manulife Financial Corp.		2,366		59,091
Metro, Inc.		343		18,414
Sun Life Financial, Inc.		196		10,695
Teekay Tankers Ltd., Class A		62		3,622
Toronto-Dominion Bank		248		14,974
				213,756
China \| 0.2%
BOC Hong Kong Holdings Ltd.		1,000		2,680
NXP Semiconductors NV		72		17,839
Wilmar International Ltd.		1,300		3,298
				23,817

Description	Shares		Fair Value
Denmark \| 1.1%
Carlsberg AS, Class B ADR		393	$	10,796
Novo Nordisk AS, Class B		755		96,712
				107,508
Finland \| 0.2%
Kone OYJ ADR		351		8,175
Nordea Bank Abp		565		6,384
				14,559
France \| 1.3%
BNP Paribas SA		282		20,070
Bureau Veritas SA ADR		144		8,777
Cie Generale des Etablissements Michelin SCA		129		4,946
Eurazeo SE		56		4,906
Gaztransport Et Technigaz SA		27		4,038
Legrand SA ADR		420		8,912
LVMH Moet Hennessy Louis Vuitton SE ADR		74		13,396
Orange SA		1,394		16,376
Pernod Ricard SA ADR		231		7,471
Societe Generale SA		514		13,829
Thales SA ADR		403		13,758
TotalEnergies SE		46		3,163
Vinci SA		49		6,276
				125,918
Germany \| 0.8%
Bayerische Motoren Werke AG		199		22,961
Commerzbank AG		429		5,891
Deutsche Bank AG		752		11,828
Infineon Technologies AG		491		16,692
Mercedes-Benz Group AG		38		3,027
Merck KGaA ADR		251		8,843
Talanx AG		113		8,946
TUI AG (*)		532		4,382
				82,570
Hong Kong \| 0.2%
AIA Group Ltd. ADR		227		6,102
Swire Pacific Ltd., Class A		500		4,117
United Energy Group Ltd.		118,000		8,445
WH Group Ltd.		8,000		5,279
				23,943
Ireland \| 0.1%
Cimpress PLC (*)		51		4,514
Israel \| 0.2%
Bezeq The Israeli Telecommunication Corp. Ltd.		5,955		7,654

Description	Shares		Fair Value
Lazard Global Dynamic Multi-Asset Portfolio (continued)
Perion Network Ltd. (*)		152	$	3,417
Wix.com Ltd. (*)		33		4,537
				15,608
Italy \| 0.5%
Banco BPM SpA		631		4,199
BPER Banca		1,086		5,130
Ferrari NV		18		7,845
Poste Italiane SpA		875		10,955
Telecom Italia SpA (*)		17,962		4,348
UniCredit SpA		473		17,950
				50,427
Japan \| 4.8%
ANA Holdings, Inc.		400		8,352
Central Japan Railway Co.		200		4,965
Chubu Electric Power Co., Inc.		2,000		26,087
Chugoku Electric Power Co., Inc.		400		3,007
East Japan Railway Co.		1,000		19,173
Ezaki Glico Co. Ltd.		100		2,788
FANUC Corp. ADR		664		9,249
GS Yuasa Corp.		200		4,159
Hachijuni Bank Ltd.		1,100		7,420
Honda Motor Co. Ltd.		1,500		18,552
Japan Post Bank Co. Ltd.		400		4,304
Japan Post Holdings Co. Ltd.		2,200		22,145
Japan Real Estate Investment Corp. REIT		3		10,696
Japan Tobacco, Inc.		200		5,332
KDDI Corp.		300		8,870
Kyoto Financial Group, Inc.		700		12,619
Kyushu Railway Co.		400		9,119
Mazda Motor Corp.		500		5,847
Mitsubishi Motors Corp.		1,600		5,256
Mizuho Financial Group, Inc.		1,400		27,701
Morinaga Milk Industry Co. Ltd.		300		6,133
Nagoya Railroad Co. Ltd.		400		5,585
NGK Insulators Ltd.		900		12,084
Nintendo Co. Ltd. ADR		872		11,850
Nisshinbo Holdings, Inc.		1,300		10,443
Nissin Foods Holdings Co. Ltd.		200		5,514
Nomura Real Estate Master Fund, Inc. REIT		4		3,955
Ono Pharmaceutical Co. Ltd.		1,500		24,584
Osaka Gas Co. Ltd.		900		20,270
Otsuka Holdings Co. Ltd.		600		24,883
Panasonic Holdings Corp.		900		8,587
Rengo Co. Ltd.		500		3,810
Sankyo Co. Ltd.		500		5,459

Description	Shares		Fair Value
Sanrio Co. Ltd.		200	$	4,030
Seven & i Holdings Co. Ltd.		300		4,367
Shimano, Inc. ADR		402		5,998
Shizuoka Financial Group, Inc.		300		2,852
SoftBank Corp.		1,400		17,980
Sompo Holdings, Inc.		600		12,578
Subaru Corp.		500		11,380
Tokyo Gas Co. Ltd.		900		20,500
Tokyu Fudosan Holdings Corp.		300		2,425
Toyota Motor Corp.		900		22,622
Yamaguchi Financial Group, Inc.		400		4,059
				467,589
Netherlands \| 0.8%
ASM International NV		22		13,464
Eurocommercial Properties NV REIT		381		8,684
EXOR NV		43		4,779
Koninklijke Ahold Delhaize NV		111		3,319
Koninklijke KPN NV		860		3,216
Shell PLC		367		12,177
Wolters Kluwer NV		84		13,155
Wolters Kluwer NV ADR		137		21,498
				80,292
New Zealand \| 0.1%
Spark New Zealand Ltd.		2,373		6,756
Norway \| 0.0%
Orkla ASA		478		3,372
Portugal \| 0.1%
Banco Comercial Portugues SA, Class R (*)		15,024		5,071
Mota-Engil SGPS SA		852		4,422
				9,493
Singapore \| 0.4%
Jardine Cycle & Carriage Ltd.		300		5,371
Sembcorp Industries Ltd.		1,900		7,601
Singapore Airlines Ltd.		1,100		5,220
STMicroelectronics NV		391		16,831
				35,023
Spain \| 0.4%
Acciona SA		31		3,775
Banco Bilbao Vizcaya Argentaria SA		1,458		17,369
Banco Santander SA		1,050		5,131
Iberdrola SA		258		3,203
Industria de Diseno Textil SA ADR		524		13,205
				42,683
Sweden \| 0.5%
Assa Abloy AB ADR		608		8,731

Description	Shares		Fair Value
Lazard Global Dynamic Multi-Asset Portfolio (continued)
Epiroc AB ADR		861	$	16,221
Fastighets AB Balder, B Shares (*)		1,454		10,665
Hexagon AB ADR		1,106		13,051
				48,668
Switzerland \| 0.5%
ABB Ltd. ADR		412		19,100
Givaudan SA		2		8,936
Logitech International SA		112		10,023
Novartis AG		126		12,202
				50,261
United Kingdom \| 2.3%
AstraZeneca PLC		140		18,850
BAE Systems PLC		706		12,025
Barclays PLC		4,974		11,558
BP PLC		492		3,091
Coca-Cola Europacific Partners PLC		197		13,780
Diageo PLC ADR		95		14,130
Global Ship Lease, Inc., Class A		248		5,035
Harbour Energy PLC		1,096		3,811
HSBC Holdings PLC		604		4,721
Investec PLC		1,180		7,906
Man Group PLC		2,178		7,361
NatWest Group PLC		6,254		20,944
RELX PLC		342		14,778
RELX PLC ADR		611		26,450
Rolls-Royce Holdings PLC (*)		863		4,641
Serco Group PLC		1,736		4,162
Standard Chartered PLC		1,427		12,093
Unilever PLC		255		12,805
Unilever PLC ADR		336		16,864
Vodafone Group PLC		4,901		4,339
Yellow Cake PLC (*)		418		3,174
				222,518
United States \| 43.0%
AbbVie, Inc.		173		31,503
Accenture PLC, Class A		83		28,769
Adobe, Inc. (*)		84		42,386
Adtalem Global Education, Inc. (*)		51		2,621
Agree Realty Corp. REIT		123		7,026
Alkermes PLC (*)		124		3,357
Allison Transmission Holdings, Inc.		102		8,278
Alphabet, Inc., Class A (*)		272		41,053
Alphabet, Inc., Class C (*)		585		89,072
Altria Group, Inc.		342		14,918
Amazon.com, Inc. (*)		405		73,054

Description	Shares		Fair Value
Amdocs Ltd.		125	$	11,296
Ameren Corp.		49		3,624
American International Group, Inc.		32		2,501
American Tower Corp. REIT		45		8,892
Amphenol Corp., Class A		202		23,301
Aon PLC, Class A		97		32,371
Apple, Inc.		665		114,034
Applied Materials, Inc.		188		38,771
AppLovin Corp., Class A (*)		74		5,122
AptarGroup, Inc.		18		2,590
Arcosa, Inc.		26		2,232
Assurant, Inc.		34		6,400
Atlassian Corp., Class A (*)		24		4,683
Atmos Energy Corp.		92		10,936
Autodesk, Inc. (*)		63		16,406
Automatic Data Processing, Inc.		35		8,741
AutoZone, Inc. (*)		1		3,152
Avery Dennison Corp.		43		9,600
Axis Capital Holdings Ltd.		73		4,746
Axos Financial, Inc. (*)		256		13,834
Bank of America Corp.		348		13,196
Bank of New York Mellon Corp.		283		16,306
Best Buy Co., Inc.		60		4,922
Biogen, Inc. (*)		20		4,313
Booking Holdings, Inc.		7		25,395
Booz Allen Hamilton Holding Corp.		174		25,829
BorgWarner, Inc.		99		3,439
Boston Scientific Corp. (*)		65		4,452
Brady Corp., Class A		59		3,498
Brighthouse Financial, Inc. (*)		52		2,680
Brinker International, Inc. (*)		118		5,862
Bristol-Myers Squibb Co.		745		40,401
Broadcom, Inc.		56		74,223
BRP, Inc.		117		7,851
Cadence Design Systems, Inc. (*)		11		3,424
Cal-Maine Foods, Inc.		160		9,416
Cardinal Health, Inc.		367		41,067
Caterpillar, Inc.		120		43,972
Cboe Global Markets, Inc.		90		16,536
CDW Corp.		120		30,694
Cencora, Inc.		203		49,327
Centene Corp. (*)		148		11,615
Central Garden & Pet Co., Class A (*)		134		4,947
Charles Schwab Corp.		188		13,600
Chemed Corp.		7		4,494
Chipotle Mexican Grill, Inc. (*)		7		20,347
Chord Energy Corp.		26		4,634

Description	Shares		Fair Value
Lazard Global Dynamic Multi-Asset Portfolio (continued)
Chubb Ltd.		12	$	3,110
Cigna Group		101		36,682
Cisco Systems, Inc.		535		26,702
Clorox Co.		26		3,981
CMS Energy Corp.		62		3,741
Coca-Cola Co.		353		21,597
Cognizant Technology Solutions Corp., Class A		328		24,039
Colgate-Palmolive Co.		304		27,375
Comcast Corp., Class A		447		19,377
Comfort Systems USA, Inc.		50		15,885
CommVault Systems, Inc. (*)		62		6,289
Consolidated Edison, Inc.		125		11,351
Constellation Brands, Inc., Class A		9		2,446
Corebridge Financial, Inc.		786		22,582
Costco Wholesale Corp.		67		49,086
Coterra Energy, Inc.		115		3,206
Crowdstrike Holdings, Inc., Class A (*)		11		3,526
CSG Systems International, Inc.		27		1,392
CVS Health Corp.		428		34,137
Danaher Corp.		80		19,978
Datadog, Inc., Class A (*)		29		3,584
Dave & Buster’s Entertainment, Inc. (*)		120		7,512
DaVita, Inc. (*)		137		18,913
Deckers Outdoor Corp. (*)		12		11,295
Deere & Co.		26		10,679
Dell Technologies, Inc., Class C		153		17,459
Dick’s Sporting Goods, Inc.		21		4,722
DocuSign, Inc. (*)		66		3,930
DR Horton, Inc.		82		13,493
Dropbox, Inc., Class A (*)		119		2,892
Eaton Corp. PLC		25		7,817
Electronic Arts, Inc.		98		13,002
Elevance Health, Inc.		29		15,038
Eli Lilly & Co.		64		49,789
Enact Holdings, Inc.		119		3,710
Entergy Corp.		187		19,762
EOG Resources, Inc.		52		6,648
Equitable Holdings, Inc.		538		20,449
Estee Lauder Cos., Inc., Class A		102		15,723
Euronet Worldwide, Inc. (*)		38		4,177
Everest Group Ltd.		9		3,578
Expedia Group, Inc. (*)		101		13,913
Fastenal Co.		77		5,940
FedEx Corp.		49		14,197
Fiserv, Inc. (*)		213		34,042

Description	Shares		Fair Value
Fortinet, Inc. (*)		48	$	3,279
General Mills, Inc.		184		12,874
General Motors Co.		82		3,719
Gilead Sciences, Inc.		298		21,828
Global Payments, Inc.		51		6,817
Globe Life, Inc.		98		11,404
GoDaddy, Inc., Class A (*)		119		14,123
GSK PLC		1,848		39,689
Gulfport Energy Corp. (*)		42		6,725
Hartford Financial Services Group, Inc.		43		4,431
HCA Healthcare, Inc.		91		30,351
Hess Corp.		29		4,427
Host Hotels & Resorts, Inc. REIT		448		9,265
Humana, Inc.		7		2,427
Huron Consulting Group, Inc. (*)		33		3,188
IDEXX Laboratories, Inc. (*)		16		8,639
Intel Corp.		153		6,758
Intercontinental Exchange, Inc.		179		24,600
International Business Machines Corp.		98		18,714
International Seaways, Inc.		86		4,575
Intuit, Inc.		21		13,650
Intuitive Surgical, Inc. (*)		7		2,794
IQVIA Holdings, Inc. (*)		83		20,990
Jackson Financial, Inc., Class A		85		5,622
Johnson & Johnson		193		30,531
Juniper Networks, Inc.		123		4,558
Kellanova		71		4,068
Kilroy Realty Corp. REIT		73		2,659
Kimberly-Clark Corp.		229		29,621
KLA Corp.		26		18,163
Kroger Co.		153		8,741
Lam Research Corp.		8		7,773
Lantheus Holdings, Inc. (*)		59		3,672
Lennar Corp., Class A		85		14,618
Lockheed Martin Corp.		55		25,018
M&T Bank Corp.		28		4,072
Martin Marietta Materials, Inc.		4		2,456
Masco Corp.		569		44,883
MasterCard, Inc., Class A		116		55,862
Match Group, Inc. (*)		129		4,680
McDonald’s Corp.		54		15,225
McKesson Corp.		28		15,032
Medpace Holdings, Inc. (*)		10		4,042
Merck & Co., Inc.		565		74,552
Meta Platforms, Inc., Class A		203		98,573
MetLife, Inc.		163		12,080
Microchip Technology, Inc.		30		2,691

Description	Shares		Fair Value
Lazard Global Dynamic Multi-Asset Portfolio (continued)
Microsoft Corp.		534	$	224,664
Molina Healthcare, Inc. (*)		15		6,162
Moody’s Corp.		17		6,682
Motorola Solutions, Inc.		35		12,424
MSC Industrial Direct Co., Inc. Class A		43		4,173
Murphy USA, Inc.		10		4,192
National Fuel Gas Co.		97		5,211
National HealthCare Corp.		54		5,104
Netflix, Inc. (*)		30		18,220
Neurocrine Biosciences, Inc. (*)		41		5,655
NewMarket Corp.		35		22,212
Newmont Corp. CDI		133		4,710
NIKE, Inc., Class B		111		10,432
NiSource, Inc.		271		7,496
Northrop Grumman Corp.		12		5,744
Nucor Corp.		17		3,364
NVIDIA Corp.		235		212,337
Oracle Corp.		255		32,031
PACCAR, Inc.		36		4,460
Paychex, Inc.		21		2,579
PepsiCo, Inc.		114		19,951
PG&E Corp.		305		5,112
Pinterest, Inc., Class A (*)		128		4,438
Pioneer Natural Resources Co.		19		4,988
PNM Resources, Inc.		89		3,350
Procter & Gamble Co.		267		43,321
Prologis, Inc. REIT		134		17,449
PTC, Inc. (*)		87		16,438
PulteGroup, Inc.		207		24,968
QUALCOMM, Inc.		279		47,235
Qualys, Inc. (*)		20		3,337
Regeneron Pharmaceuticals, Inc. (*)		12		11,550
RingCentral, Inc., Class A (*)		87		3,022
Roche Holding AG		139		35,483
Rockwell Automation, Inc.		43		12,527
Royal Caribbean Cruises Ltd. (*)		39		5,421
S&P Global, Inc.		50		21,272
Sally Beauty Holdings, Inc. (*)		367		4,558
Sanofi SA		176		17,269
SBA Communications Corp. REIT		38		8,235
Sempra		139		9,984
ServiceNow, Inc. (*)		49		37,358
Sherwin-Williams Co.		43		14,935
SilverBow Resources, Inc. (*)		128		4,370
Simon Property Group, Inc. REIT		124		19,405
Simpson Manufacturing Co., Inc.		22		4,514

Description	Shares		Fair Value
SLM Corp.		178	$	3,879
Squarespace, Inc., Class A (*)		103		3,753
Starbucks Corp.		36		3,290
State Street Corp.		269		20,799
Stellantis NV		588		16,712
Stryker Corp.		88		31,493
Super Micro Computer, Inc. (*)		18		18,181
Synopsys, Inc. (*)		97		55,435
Sysco Corp.		101		8,199
Target Corp.		122		21,620
Terex Corp.		90		5,796
Tesla, Inc. (*)		106		18,634
Texas Instruments, Inc.		93		16,202
Texas Pacific Land Corp.		6		3,471
Thermo Fisher Scientific, Inc.		37		21,505
TJX Cos., Inc.		416		42,191
Toll Brothers, Inc.		138		17,853
TopBuild Corp. (*)		29		12,781
Tradeweb Markets, Inc., Class A		60		6,250
Travelers Cos., Inc.		15		3,452
U-Haul Holding Co. (*)		65		4,390
UMH Properties, Inc. REIT		242		3,930
United Therapeutics Corp. (*)		10		2,297
UnitedHealth Group, Inc.		66		32,650
Universal Corp.		78		4,034
Universal Health Services, Inc., Class B		60		10,948
Unum Group		317		17,010
Verizon Communications, Inc.		738		30,966
Vertex Pharmaceuticals, Inc. (*)		57		23,827
Vertiv Holdings Co.		88		7,187
Visa, Inc., A Shares		84		23,443
Vistra Corp.		49		3,413
W.R. Berkley Corp.		46		4,068
Walmart, Inc.		310		18,653
Warner Music Group Corp., Class A		168		5,547
Waste Management, Inc.		64		13,642
WD-40 Co.		27		6,839
Wells Fargo & Co.		276		15,997
Western Union Co.		336		4,697
Westlake Corp.		20		3,056
Williams-Sonoma, Inc.		15		4,763
WK Kellogg Co.		45		846
Workday, Inc., Class A (*)		22		6,001
WW Grainger, Inc.		16		16,277
Xcel Energy, Inc.		257		13,814
Zoetis, Inc.		78		13,198

Description	Shares		Fair Value
Lazard Global Dynamic Multi-Asset Portfolio (continued)
Zoom Video Communications, Inc. Class A (*)		54	$	3,530
				4,199,775
Total Common Stocks (Cost $4,313,607)				5,941,946

Description	Security Currency	Principal Amount (000)		Fair Value
Corporate Bonds \| 11.5%
Canada \| 0.5%
Canadian Imperial Bank of Commerce, 0.950%, 10/23/25	USD		50	$	46,942
Denmark \| 0.5%
Nykredit Realkredit AS, 1.000%, 01/01/27	DKK		345		47,343
Germany \| 0.6%
Commerzbank AG, 3.375%, 12/12/25	EUR		20		21,609
Mercedes-Benz Group AG, 0.750%, 09/10/30	EUR		41		38,496
					60,105
Sweden \| 0.2%
Swedbank Hypotek AB, 3.000%, 03/28/29	SEK		200		18,549
Switzerland \| 0.5%
ABB Finance USA, Inc., 4.375%, 05/08/42	USD		57		51,865
United States \| 9.2%
Adobe, Inc., 2.300%, 02/01/30	USD		45		39,602
Alphabet, Inc., 1.100%, 08/15/30	USD		50		40,943
American Express Co., 4.050%, 05/03/29	USD		15		14,549
Amgen, Inc., 3.000%, 02/22/29	USD		25		23,112
AT&T, Inc., 3.500%, 06/01/41	USD		60		46,836
Bank of America Corp., 1.978% (CDOR 3 Month + 0.600%), 09/15/27 (§)	CAD		45		30,991
Citigroup, Inc., 1.281% (SOFR + 0.528%), 11/03/25 (§)	USD		25		24,319
Clean Harbors, Inc., 4.875%, 07/15/27	USD		35		33,950
Comcast Corp., 4.650%, 02/15/33	USD		45		44,161
Goldman Sachs Group, Inc., 1.992% (SOFR + 1.090%), 01/27/32 (§)	USD		55		44,506

Description	Security Currency	Principal Amount (000)		Fair Value
Home Depot, Inc., 5.875%, 12/16/36	USD		25	$	26,849
John Deere Financial, Inc., 2.410%, 01/14/25	CAD		35		25,334
Johnson Controls International PLC/Tyco Fire & Security Finance SCA, 1.750%, 09/15/30	USD		35		28,792
JPMorgan Chase & Co.:
5.040% (SOFR + 1.190%), 01/23/28 (§)	USD		10		9,965
3.540% (SOFR + 1.642%), 05/01/28 (§)	USD		25		23,883
Kimberly-Clark Corp., 3.200%, 04/25/29	USD		18		16,795
Lowe’s Cos., Inc., 5.000%, 04/15/33	USD		45		44,823
McDonald’s Corp., 3.125%, 03/04/25	CAD		25		18,137
Microsoft Corp., 3.500%, 11/15/42	USD		50		42,495
Morgan Stanley, 3.625%, 01/20/27	USD		40		38,636
PepsiCo, Inc., 2.875%, 10/15/49	USD		35		24,379
Procter & Gamble Co., 1.200%, 10/29/30	USD		20		16,359
Prologis LP, 1.250%, 10/15/30	USD		45		36,082
Starbucks Corp., 4.450%, 08/15/49	USD		25		21,684
Sysco Corp., 2.400%, 02/15/30	USD		50		43,264
Toyota Motor Credit Corp., 2.150%, 02/13/30	USD		40		34,614
United Rentals North America, Inc., 4.875%, 01/15/28	USD		35		34,060
Verizon Communications, Inc., 3.875%, 02/08/29	USD		34		32,550
Waste Management, Inc., 4.625%, 02/15/30	USD		35		34,834
					896,504
Total Corporate Bonds (Cost $1,127,534)					1,121,308

Description	Shares		Fair Value
Exchange-Traded Funds \| 1.2%
iShares MSCI World ETF (Cost $69,774)		828	$	119,986

Description	Security Currency	Principal Amount (000)		Fair Value
Lazard Global Dynamic Multi-Asset Portfolio (continued)
Foreign Government Obligations \| 17.6%
Australia \| 1.3%
New South Wales Treasury Corp., 1.250%, 11/20/30	AUD	135	$	73,187
Queensland Treasury Corp., 1.250%, 03/10/31	AUD	110		58,958
				132,145
Bahamas \| 0.5%
Bahamas Government International Bonds, 6.950%, 11/20/29	USD	55		48,933
Canada \| 1.8%
British Columbia, 3.200%, 06/18/44	CAD	80		49,769
Quebec, 1.850%, 02/13/27	CAD	75		52,166
Vancouver, 2.900%, 11/20/25	CAD	105		75,608
				177,543
Chile \| 0.2%
Bonos de la Tesoreria de la Republica en pesos, 2.500%, 03/01/25	CLP	20,000		19,859
Colombia \| 0.6%
Colombia Government International Bonds, 9.850%, 06/28/27	COP	225,000		56,497
Croatia \| 0.7%
Croatia Government International Bonds, 1.750%, 03/04/41	EUR	83		67,914
Czech Republic \| 1.0%
Czech Republic Government Bonds, 6.790% (PRIBOR 6 Month - 0.100%), 11/19/27 (§)	CZK	2,180		93,147
Denmark \| 0.6%
Denmark Government Bonds, 0.000%, 11/15/31	DKK	465		56,837
Estonia \| 0.2%
Estonia Government International Bonds, 3.250%, 01/17/34	EUR	20		21,361
France \| 0.3%
French Republic Government Bonds OAT, 1.750%, 06/25/39	EUR	30		27,365
Hungary \| 0.4%
Hungary Government International Bonds, 1.750%, 06/05/35	EUR	45		37,367

Description	Security Currency	Principal Amount (000)		Fair Value
Ireland \| 0.6%
Ireland Government Bonds, 1.350%, 03/18/31	EUR		60	$	59,801
Israel \| 0.6%
Israel Government Bonds - Fixed, 1.750%, 08/31/25	ILS		235		62,584
Italy \| 0.3%
Italy Buoni Poliennali Del Tesoro, 4.000%, 04/30/35	EUR		25		27,735
Japan \| 0.8%
Japan Government Ten Year Bonds, 0.400%, 06/20/25	JPY		5,500		36,478
Japan Government Two Year Bonds, 0.100%, 01/01/26	JPY		6,000		39,583
					76,061
Mexico \| 0.6%
Mexico Bonos:
8.000%, 09/05/24	MXN		520		30,859
7.500%, 06/03/27	MXN		410		23,340
					54,199
New Zealand \| 1.4%
Housing New Zealand Ltd., 3.420%, 10/18/28	NZD		150		84,531
New Zealand Local Government Funding Agency Bonds, 2.000%, 04/15/37	NZD		130		53,047
					137,578
Peru \| 0.9%
Peru Government Bonds, 6.150%, 08/12/32	PEN		189		47,665
Peruvian Government International Bonds, 3.000%, 01/15/34	USD		55		45,083
					92,748
Poland \| 0.3%
Poland Government Bonds, 5.790% (WIBOR 6 Month), 05/25/28 (§)	PLN		105		26,045
Portugal \| 0.6%
Portugal Obrigacoes do Tesouro OT, 1.650%, 07/16/32	EUR		60		59,304
Romania \| 0.3%
Romania Government Bonds, Series 10Y, 4.750%, 02/24/25	RON		130		27,909
Singapore \| 0.6%
Singapore Government Bonds, 3.375%, 09/01/33	SGD		80		60,520

Description	Security Currency	Principal Amount (000)		Fair Value
Lazard Global Dynamic Multi-Asset Portfolio (continued)
Slovenia \| 0.3%
Slovenia Government Bonds, 1.500%, 03/25/35	EUR		30	$	27,597
Spain \| 0.7%
Spain Government Bonds, 1.000%, 07/30/42	EUR		92		65,686
Switzerland \| 0.6%
Swiss Confederation Government Bonds:
1.500%, 07/24/25	CHF		20		22,328
0.500%, 06/27/32	CHF		35		38,231
					60,559
Thailand \| 0.8%
Thailand Government Bonds, 1.585%, 12/17/35	THB		3,370		82,746
United Kingdom \| 0.6%
U.K. Gilts, 0.875%, 07/31/33	GBP		58		56,046

Total Foreign Government Obligations (Cost $1,751,867)					1,716,086
Quasi Government Bonds \| 0.8%
Germany \| 0.8%
Kreditanstalt fuer Wiederaufbau:
0.000%, 09/15/28	EUR		20		19,168
1.750%, 09/14/29	USD		30		26,304
0.000%, 04/18/36	USD		55		32,145
(Cost $79,758)					77,617
Supranational Bonds \| 4.2%
Asian Development Bank:
2.125%, 03/19/25	USD		33		32,034
6.200%, 10/06/26	INR		2,000		23,662
European Bank for Reconstruction & Development, 4.250%, 02/07/28	IDR		350,000		20,720
European Investment Bank, 1.000%, 01/28/28	CAD		55		36,405
European Union:
2.750%, 02/04/33	EUR		20		21,575
0.400%, 02/04/37	EUR		35		27,702
Inter-American Development Bank, 5.100%, 11/17/26	IDR		590,000		36,319
Inter-American Investment Corp., 1.100%, 06/30/26	AUD		37		22,322
International Bank for Reconstruction & Development:
2.900%, 11/26/25	AUD		40		25,524
1.250%, 03/16/26	NOK		660		57,340
1.125%, 09/13/28	USD		42		36,546
International Finance Corp.:
2.125%, 04/07/26	USD		55		52,284

Description	Security Currency	Principal Amount (000)		Fair Value
1.500%, 04/15/35	AUD		32	$	15,042
Total Supranational Bonds (Cost $438,309)					407,475
U.S. Treasury Securities \| 2.0%
U.S. Treasury Bill, 0.000%, 06/25/24	USD		5		4,939
U.S. Treasury Bonds:
4.125%, 11/15/32	USD		30		29,795
2.250%, 05/15/41	USD		85		62,800
1.750%, 08/15/41	USD		85		57,362
3.625%, 02/15/53	USD		15		13,172
U.S. Treasury Inflation-Indexed Note, 1.250%, 04/15/28 (††)	USD		26		24,966
Total U.S. Treasury Securities (Cost $185,140)					193,034

Description	Shares		Fair Value
Warrants \| 0.0%
Canada \| 0.0%
Constellation Software, Inc. Expires 03/31/40 (*), (¢) (Cost $0)		19	$	0
Short-Term Investments \| 1.2%
State Street Institutional Treasury Money Market Fund, Premier Class, 5.24% (7 day yield) (Cost $120,396)		120,396		120,396
Total Investments \| 99.4% (Cost $8,086,385) (»)			$	9,697,848
Cash and Other Assets in Excess of Liabilities \| 0.6%				62,406
Net Assets \| 100.0%			$	9,760,254

Lazard Global Dynamic Multi-Asset Portfolio (continued)

Forward Currency Contracts open at March 31, 2024:

Currency Purchased	Quantity	Currency Sold	Quantity	Counterparty	Settlement Date	Unrealized Appreciation		Unrealized Depreciation
AUD	9,687	USD	6,500	JPM	04/18/24	$	—	$	185
AUD	63,338	USD	41,164	JPM	04/18/24		128		—
CAD	54,337	USD	40,599	HSB	04/18/24		—		475
CAD	24,601	USD	18,256	JPM	04/18/24		—		89
CAD	39,408	USD	29,345	JPM	04/18/24		—		244
CAD	39,723	USD	29,630	JPM	04/18/24		—		297
CAD	56,370	USD	41,533	JPM	04/18/24		93		—
CAD	64,008	USD	47,563	JPM	04/18/24		—		298
CNH	1,632,178	USD	229,056	HSB	04/18/24		—		4,224
CNH	1,000,386	USD	140,363	JPM	04/18/24		—		2,560
CZK	71,093	USD	3,149	JPM	04/18/24		—		119
EUR	25,791	USD	27,945	CIT	04/18/24		—		104
EUR	341,984	USD	376,018	CIT	04/18/24		—		6,849
EUR	86,930	USD	94,434	HSB	04/18/24		—		594
EUR	8,687	USD	9,546	JPM	04/18/24		—		168
EUR	54,979	USD	59,722	JPM	06/26/24		—		206
EUR	16,351	USD	17,761	SSB	06/26/24		—		60
GBP	38,057	USD	48,527	HSB	04/18/24		—		489
GBP	62,500	USD	79,691	JPM	04/18/24		—		800
HUF	2,555,284	USD	7,262	HSB	04/18/24		—		269
INR	1,872,869	USD	22,493	HSB	06/26/24		—		91
JPY	13,484,453	USD	93,359	CIT	04/18/24		—		4,064
JPY	53,929,419	USD	373,269	HSB	04/18/24		—		16,147
KRW	69,330,262	USD	52,190	JPM	06/26/24		—		589
MXN	511,515	USD	29,744	HSB	04/18/24		948		—
MXN	573,095	USD	32,650	JPM	04/18/24		1,738		—
NZD	15,091	USD	9,301	HSB	04/18/24		—		284
NZD	50,352	USD	30,664	HSB	04/18/24		—		581
NZD	15,046	USD	9,307	JPM	04/18/24		—		318
PLN	11,466	USD	2,836	HSB	04/18/24		34		—
RON	158,240	USD	34,587	HSB	04/18/24		—		247
SEK	261,187	USD	25,144	HSB	04/18/24		—		729
SGD	20,209	USD	15,000	JPM	04/18/24		—		22
USD	20,302	AUD	30,253	HSB	04/18/24		579		—
USD	11,000	AUD	16,832	JPM	04/18/24		27		—
USD	151,825	AUD	226,249	JPM	04/18/24		4,327		—
USD	4,938	AUD	7,551	SSB	06/26/24		6		—
USD	116,980	CAD	156,534	CIT	04/18/24		1,389		—
USD	4,000	CAD	5,421	HSB	04/18/24		—		3
USD	20,000	CAD	27,065	HSB	04/18/24		14		—
USD	256,713	CAD	343,622	JPM	04/18/24		2,969		—
USD	18,441	CAD	25,000	SSB	06/26/24		—		38
USD	17,575	CHF	14,842	HSB	04/18/24		1,090		—

Lazard Global Dynamic Multi-Asset Portfolio (continued)

Currency Purchased	Quantity	Currency Sold	Quantity	Counterparty	Settlement Date	Unrealized Appreciation		Unrealized Depreciation
USD	20,000	CHF	17,490	HSB	04/18/24	$	574	$	—
USD	11,200	CNH	80,419	HSB	04/18/24		122		—
USD	12,000	CNH	86,305	HSB	04/18/24		112		—
USD	18,000	CNH	130,521	HSB	04/18/24		21		—
USD	54,000	CNH	387,026	HSB	04/18/24		687		—
USD	24,000	CNH	172,563	JPM	04/18/24		230		—
USD	48,990	COP	194,092,597	HSB	04/17/24		—		1,088
USD	46,327	CZK	1,045,556	CIT	04/18/24		1,754		—
USD	18,319	CZK	413,181	HSB	04/18/24		705		—
USD	10,000	CZK	235,613	JPM	04/18/24		—		45
USD	3,711	DKK	25,146	CIT	04/18/24		71		—
USD	16,000	DKK	110,107	HSB	04/18/24		63		—
USD	46,119	DKK	312,441	HSB	04/18/24		895		—
USD	25,776	DKK	174,654	JPM	04/18/24		496		—
USD	11,519	DKK	79,017	SSB	06/26/24		41		—
USD	11,021	EUR	10,024	CIT	04/18/24		201		—
USD	32,400	EUR	29,991	CIT	04/18/24		25		—
USD	57,923	EUR	52,680	CIT	04/18/24		1,055		—
USD	21,643	EUR	19,857	HSB	04/18/24		207		—
USD	22,187	EUR	20,176	HSB	04/18/24		407		—
USD	29,000	EUR	26,965	HSB	04/18/24		—		109
USD	62,000	EUR	57,224	HSB	04/18/24		228		—
USD	21,412	EUR	19,730	JPM	04/18/24		114		—
USD	39,000	EUR	35,930	JPM	04/18/24		214		—
USD	1,732	GBP	1,359	HSB	04/18/24		17		—
USD	6,600	GBP	5,225	HSB	04/18/24		5		—
USD	7,000	GBP	5,529	JPM	04/18/24		21		—
USD	21,000	GBP	16,708	JPM	04/18/24		—		90
USD	31,642	GBP	25,077	SSB	06/26/24		—		23
USD	15,043	IDR	236,894,520	JPM	06/26/24		153		—
USD	17,363	ILS	62,962	CIT	06/26/24		177		—
USD	22,555	ILS	81,706	HSB	06/26/24		252		—
USD	22,605	ILS	81,897	JPM	06/26/24		250		—
USD	39,000	JPY	5,817,964	CIT	04/18/24		473		—
USD	17,700	JPY	2,594,631	HSB	04/18/24		518		—
USD	19,000	JPY	2,833,259	HSB	04/18/24		238		—
USD	27,488	JPY	4,006,041	HSB	04/18/24		960		—
USD	13,676	JPY	1,997,804	JPM	04/18/24		447		—
USD	18,000	JPY	2,715,420	JPM	04/18/24		18		—
USD	126,359	JPY	18,846,043	JPM	06/26/24		242		—
USD	16,541	JPY	2,466,863	SSB	06/26/24		33		—
USD	7,180	MXN	123,244	CIT	04/18/24		—		216
USD	12,743	MXN	218,773	HSB	04/18/24		—		384
USD	69,508	MXN	1,193,264	JPM	04/18/24		—		2,091
USD	53,188	NOK	552,893	JPM	04/18/24		2,241		—

Lazard Global Dynamic Multi-Asset Portfolio (concluded)

Currency Purchased	Quantity	Currency Sold	Quantity	Counterparty	Settlement Date	Unrealized Appreciation		Unrealized Depreciation
USD	5,818	NZD	9,457	CIT	04/18/24	$	168	$	—
USD	177,659	NZD	288,794	HSB	04/18/24		5,117		—
USD	23,180	PEN	85,784	CIT	06/26/24		154		—
USD	17,573	PEN	64,923	HSB	06/26/24		146		—
USD	15,030	PLN	60,768	HSB	04/18/24		—		181
USD	29,228	RON	134,580	HSB	04/18/24		22		—
USD	19,633	SEK	205,113	JPM	04/18/24		459		—
USD	3,861	SGD	5,123	CIT	04/18/24		64		—
USD	22,606	SGD	29,987	HSB	04/18/24		381		—
USD	25,527	SGD	33,866	JPM	04/18/24		427		—
USD	63,557	THB	2,236,458	HSB	04/18/24		2,183		—
Total gross unrealized appreciation/depreciation on Forward Currency Contracts						$	36,730	$	45,370

Description	Shares		Fair Value
Lazard Opportunistic Strategies Portfolio
Exchange-Traded Funds \| 98.3%
Equity Funds \| 77.3%
Franklin FTSE Japan ETF		60,621	$	1,881,070
Invesco QQQ Trust Series 1		4,835		2,146,788
iShares Core Dividend Growth ETF		38,731		2,248,722
iShares Expanded Tech-Software Sector ETF		32,965		2,810,926
iShares Russell 2000 ETF		9,487		1,995,116
JPMorgan BetaBuilders Japan ETF		30,238		1,770,435
SPDR EURO STOXX 50 ETF		64,311		3,379,543
Vanguard S&P 500 ETF		10,472		5,033,890
Vanguard S&P 500 Growth ETF		11,450		3,488,929
Vanguard S&P 500 Value ETF		19,614		3,539,739
				28,295,158
Fixed-Income Funds \| 21.0%
iShares iBoxx $ Investment Grade Corporate Bond ETF		11,692		1,273,493
iShares U.S. Treasury Bond ETF		55,479		1,263,257
Vanguard Long-Term Treasury ETF		54,795		3,246,056
Vanguard Mega Cap ETF		10,189		1,904,018
				7,686,824
Total Exchange-Traded Funds (Cost $29,047,122)				35,981,982
Short-Term Investments \| 1.8%
State Street Institutional Treasury Money Market Fund, Premier Class, 5.24% (7 day yield) (Cost $651,206)		651,206		651,206
Total Investments \| 100.1% (Cost $29,698,328)			$	36,633,188
Liabilities in Excess of Cash and Other Assets \| (0.1)%				(40,032)
Net Assets \| 100.0%			$	36,593,156

Description	Shares		Fair Value
Lazard Real Assets Portfolio (•)
Common Stocks \| 66.4%
Australia \| 1.2%
Atlas Arteria Ltd.		7,021	$	24,387
Aurizon Holdings Ltd.		41,529		108,321
Dexus REIT		15,763		81,463
Goodman Group REIT		3,182		70,119
Transurban Group		1,828		15,891
				300,181
Brazil \| 1.1%
Allos SA		12,600		60,093
Energisa SA		11,000		104,991
Multiplan Empreendimentos Imobiliarios SA		18,100		92,351
				257,435
Canada \| 3.1%
Agnico Eagle Mines Ltd.		995		59,352
Algonquin Power & Utilities Corp.		2,637		16,664
Atco Ltd., Class I		4,446		123,774
Barrick Gold Corp.		2,040		33,946
Boardwalk Real Estate Investment Trust REIT		1,703		98,166
Canadian National Railway Co.		1,034		136,159
Centerra Gold, Inc.		5,400		31,892
Hydro One Ltd.		6,644		193,746
West Fraser Timber Co. Ltd.		772		66,659
				760,358
China \| 1.4%
C&D International Investment Group Ltd.		46,000		80,451
China Overseas Land & Investment Ltd.		45,000		64,877
China Resources Land Ltd.		18,000		57,049
Hopson Development Holdings Ltd. (*)		72,468		32,873
Midea Real Estate Holding Ltd.		41,600		21,193
Seazen Group Ltd. (*)		152,000		20,408
Yuexiu Property Co. Ltd.		100,000		55,197
				332,048
France \| 2.1%
Aeroports de Paris SA		543		74,396
Eutelsat Communications SACA (*)		1,508		6,574
Unibail-Rodamco-Westfield REIT (*)		914		73,425
Vinci SA		2,791		357,493
				511,888
Hong Kong \| 1.2%
CK Infrastructure Holdings Ltd.		2,111		12,354
Link REIT		38,500		165,833
Power Assets Holdings Ltd.		3,485		20,395
Swire Properties Ltd.		27,400		57,640

Description	Shares		Fair Value
Wharf Real Estate Investment Co. Ltd.		13,000	$	42,345
				298,567
Italy \| 1.8%
Enel SpA		9,252		61,077
Hera SpA		6,016		21,197
Italgas SpA		3,464		20,181
Snam SpA		7,477		35,292
Terna - Rete Elettrica Nazionale		37,842		313,823
				451,570
Japan \| 3.6%
Aeon Mall Co. Ltd.		9,200		108,460
Chubu Electric Power Co., Inc.		5,000		65,217
East Japan Railway Co.		5,700		109,285
Hankyu Hanshin Holdings, Inc.		3,400		97,416
Hoshino Resorts REIT, Inc.		8		30,553
Industrial & Infrastructure Fund Investment Corp. REIT		102		92,655
Japan Prime Realty Investment Corp. REIT		25		55,506
Japan Real Estate Investment Corp. REIT		16		57,045
Katitas Co. Ltd.		2,600		33,887
Osaka Gas Co. Ltd.		3,500		78,828
Tokyo Gas Co. Ltd.		6,600		150,332
				879,184
Luxembourg \| 0.1%
SES SA		1,766		11,769
Mexico \| 0.2%
Grupo Aeroportuario del Centro Norte SAB de CV		5,500		54,420
Singapore \| 0.3%
Parkway Life REIT		25,400		65,920
South Africa \| 0.4%
Growthpoint Properties Ltd. REIT		121,722		72,318
Northam Platinum Holdings Ltd.		5,614		33,473
				105,791
Spain \| 1.9%
Acciona SA		1,049		127,734
Aena SME SA		585		115,159
Atlantica Sustainable Infrastructure PLC		478		8,833
Iberdrola SA		16,252		201,782
				453,508
Switzerland \| 0.1%
Flughafen Zurich AG		70		15,878

Description	Shares		Fair Value
Lazard Real Assets Portfolio (•) (continued)
Taiwan \| 0.3%
Highwealth Construction Corp.		64,000	$	80,992
United Kingdom \| 4.2%
LondonMetric Property PLC REIT		60,789		156,141
National Grid PLC		26,329		354,216
Pennon Group PLC		1,316		10,767
Segro PLC REIT		7,929		90,319
Severn Trent PLC		1,095		34,170
SSE PLC		12,519		261,034
Tritax Big Box REIT PLC		45,524		90,499
United Utilities Group PLC		2,721		35,380
				1,032,526
United States \| 43.4%
Agree Realty Corp. REIT		1,631		93,163
Alexandria Real Estate Equities, Inc. REIT		1,870		241,062
Ameren Corp.		2,029		150,065
American Electric Power Co., Inc.		1,035		89,113
American Homes 4 Rent, Class A REIT		6,424		236,275
American Tower Corp. REIT		1,834		362,380
American Water Works Co., Inc.		435		53,161
Apartment Income REIT Corp.		5,219		169,461
Apple Hospitality REIT, Inc.		6,449		105,635
AvalonBay Communities, Inc. REIT		1,628		302,092
Brixmor Property Group, Inc.		10,479		245,733
CareTrust REIT, Inc.		4,765		116,123
CF Industries Holdings, Inc.		858		71,394
Cheniere Energy, Inc.		988		159,345
Chesapeake Energy Corp.		739		65,645
Consolidated Edison, Inc.		1,161		105,430
Crown Castle, Inc.		3,558		376,543
CSX Corp.		935		34,660
CubeSmart		2,215		100,162
Digital Realty Trust, Inc. REIT		1,983		285,631
Duke Energy Corp.		813		78,625
EastGroup Properties, Inc.		1,129		202,960
Edison International		1,046		73,984
Energy Transfer Equity LP		17,641		277,493
Entergy Corp.		743		78,520
Enterprise Products Partners LP		7,984		232,973
Equinix, Inc. REIT		481		396,984
Equity Lifestyle Properties, Inc. REIT		1,101		70,904
Equity Residential REIT		1,365		86,145
Essex Property Trust, Inc. REIT		455		111,389
Exelon Corp.		1,607		60,375
Extra Space Storage, Inc.		708		104,076

Description	Shares		Fair Value
Ferrovial SE		5,391	$	213,359
Four Corners Property Trust, Inc.		2,580		63,133
Hilton Worldwide Holdings, Inc.		378		80,631
Host Hotels & Resorts, Inc. REIT		8,838		182,770
Invitation Homes, Inc. REIT		7,032		250,410
Iron Mountain, Inc. REIT		1,323		106,118
Kilroy Realty Corp. REIT		2,344		85,392
Mid-America Apartment Communities, Inc. REIT		1,806		237,633
National Storage Affiliates Trust REIT		1,746		68,373
NextEra Energy, Inc.		1,430		91,391
NiSource, Inc.		4,116		113,849
NNN REIT, Inc.		2,510		107,277
Norfolk Southern Corp.		140		35,682
ONEOK, Inc.		570		45,697
Pinnacle West Capital Corp.		327		24,437
PPL Corp.		830		22,850
Prologis, Inc.		3,920		510,462
Public Storage		711		206,233
Realty Income Corp.		3,388		183,291
Regency Centers Corp. REIT		2,633		159,454
Ryman Hospitality Properties, Inc. REIT		616		71,216
SBA Communications Corp. REIT		1,917		415,414
Simon Property Group, Inc. REIT		1,977		309,381
SL Green Realty Corp. REIT		4,891		269,641
STAG Industrial, Inc.		3,660		140,690
Sun Communities, Inc. REIT		574		73,805
Sunstone Hotel Investors, Inc. REIT		8,283		92,273
Targa Resources Corp.		3,369		377,294
Union Pacific Corp.		1,164		286,262
Ventas, Inc. REIT		6,182		269,164
Welltower, Inc. REIT		2,341		218,743
Xcel Energy, Inc.		3,113		167,324
				10,617,150
Total Common Stocks (Cost $15,200,724)				16,229,185

Description	Security Currency	Principal Amount (000)		Fair Value
Corporate Bonds \| 5.8%
Canada \| 1.2%
Canadian Pacific Railway Co., 1.350%, 12/02/24	USD		300	$	291,699
United States \| 4.6%
Kimco Realty OP LLC, 3.300%, 02/01/25	USD		300		294,084

Description	Security Currency	Principal Amount (000)		Fair Value
Lazard Real Assets Portfolio (•) (continued)
ONEOK, Inc., 2.750%, 09/01/24	USD		300	$	296,403
Southern Co., 4.475%, 08/01/24 (Ø)	USD		275		273,632
Tampa Electric Co., 3.875%, 07/12/24	USD		275		273,400
					1,137,519
Total Corporate Bonds (Cost $1,428,864)					1,429,218

Description	Shares		Fair Value
Exchange-Traded Funds \| 5.0%
iShares Gold Trust (Δ)		19,850	$	833,898
iShares Silver Trust (Δ)		17,084		388,662
Total Exchange-Traded Funds (Cost $1,026,296)				1,222,560
Short-Term Investments \| 18.1%
State Street Institutional Treasury Money Market Fund, Premier Class, 5.24% (7 day yield) (Δ) (Cost $4,422,522)		4,422,522		4,422,522
Total Investments \| 95.3% (Cost $22,078,406) (»)			$	23,303,485
Cash and Other Assets in Excess of Liabilities \| 4.7%				1,145,641
Net Assets \| 100.0%			$	24,449,126

Lazard Real Assets Portfolio (•) (continued)

Forward Currency Contracts open at March 31, 2024:

Currency Purchased	Quantity	Currency Sold	Quantity	Counterparty	Settlement Date	Unrealized Appreciation		Unrealized Depreciation
USD	28,736	AUD	43,956	HSB	06/26/24	$	25	$	—
USD	2,136	AUD	3,261	SSB	06/26/24		6		—
USD	8,937	AUD	13,673	SSB	06/26/24		6		—
USD	1,067	CAD	1,446	HSB	06/26/24		—		2
USD	6,102	CAD	8,270	JPM	06/26/24		—		11
USD	1,827	CAD	2,479	SSB	06/26/24		—		5
USD	6,822	CAD	9,244	SSB	06/26/24		—		11
USD	1,416	CHF	1,259	SSB	06/26/24		7		—
USD	14,380	CHF	12,645	SSB	06/26/24		228		—
USD	48,982	EUR	44,979	JPM	06/26/24		291		—
USD	169,479	EUR	155,648	SSB	06/26/24		984		—
USD	20,226	GBP	15,926	HSB	06/26/24		116		—
USD	14,711	GBP	11,586	JPM	06/26/24		81		—
USD	104,656	GBP	82,450	SSB	06/26/24		546		—
USD	9,029	HKD	70,460	HSB	06/26/24		5		—
USD	23,331	HKD	182,066	SSB	06/26/24		14		—
Total gross unrealized appreciation/depreciation on Forward Currency Contracts						$	2,309	$	29

Futures Contracts open at March 31, 2024 (Δ):

Type	Number of Contracts	Notional Amount		Expiration Date	Notional Cost		Fair Value		Unrealized Appreciation		Unrealized Depreciation
Natural Gas	15	$	150,000	06/26/24		343,536	$	351,000	$	7,464	$	—
Sugar 11	6		672,000	06/28/24		145,238		148,848		3,610		—
Low Sulphur Gasoil	3		300	07/11/24		236,778		239,325		2,547		—
Soybean Oil	6		360,000	07/12/24		176,418		174,528		—		1,890
Total gross unrealized appreciation/depreciation on Futures Contracts									$	13,621	$	1,890

Total Return Swap Agreements open at March 31, 2024 (Δ):

Currency

Counterparty

Notional
Amount

Expiration
Date

Receive

Pay

Payable

Payment
Frequency

Unrealized
Depreciation

USD

GSC

$3,878,040

10/18/24

Appreciation,and dividends paid, on commodities in a custom momentum basket

0.00%

Depreciation and dividend expense (if applicable), on commodities in a custom momentum basket

Upon Maturity(a)

159,680

(a) For swap agreements, the net settlement will occur on the expiration date.

Lazard Real Assets Portfolio (•) (concluded)

The following table represents the commodity exposure expressed as a percentage of the notional amount of the individual commodity underlying the custom total return basket swap agreements with GSC, as of March 31, 2024:

Commodity	Commodity Index Ticker Symbol	Commodity Exposure Expressed as a Percentage of Notional Amount
Aluminum	BCOMAL		8.89%
Brent Crude	BCOMCO		13.56
Coffee	BCOMKC		5.18
Copper	BCOMHG		11.71
Corn	BCOMCN		4.88
Cotton	BCOMCT		0.19
Crude Oil	BCOMCL		13.31
Gasoline (RBOB)	BCOMRB		2.93
Gold	BCOMGC		0.11
Heating Oil	BCOMHO		5.01
Kansas Wheat	BCOMKW		2.01
Lean Hogs	BCOMLH		0.15
Live Cattle	BCOMLC		8.07
Natural Gas	BCOMNG		0.07
Nickel	BCOMNI		1.18
Silver	BCOMSI		0.01
Soy Meal	BCOMSM		4.52
Soybeans	BCOMSY		7.61
Sugar	BCOMSB		2.77
Wheat	BCOMWH		2.74
Zinc	BCOMZS		5.10
Total			100.00%

The Lazard Funds, Inc. Notes to Portfolios of Investments

March 31, 2024 (unaudited)

()*	Non-income producing security.
(¢)	Security in which significant unobservable inputs (Level 3) were used in determining fair value.
(‡)	Security valued using Level 2 inputs, based on reference to a similar security which was trading on an active market, under US Generally Accepted Accounting Principles in the United States of America hierarchy.
(#)	Pursuant to Rule 144A under the Securities Act of 1933, these securities may only be traded among “qualified institutional buyers.” At March 31, 2024, the percentage of net assets for each Portfolio was as follows:

Portfolio	Percentage of Net Assets
Emerging Markets Equity Advantage Portfolio		0.7	%
International Equity Advantage Portfolio		0.1	%
U.S. High Yield Portfolio		74.6	%
U.S. Short Duration Fixed Income Portfolio		8.5	%
Enhanced Opportunities Portfolio		0.3	%

(^)

The Investment Company Act of 1940 defines “affiliated persons” to include a portfolio company in which a portfolio owns 5% or more of the outstanding voting securities. Investments in “affiliated persons” for the Global Listed Infrastructure Portfolio for the period ended March 31, 2024 were as follows:

Issue	Value at December 31, 2023		Purchase cost		Sales proceeds		Realized gain (loss)		Change in unrealized appreciation (depreciation)		Dividend income		Shares at March 31, 2024		Values at March 31, 2024
Global Listed Infrastructure
Atlas Arteria Ltd.	$	329,900,648	$	-	$	-	$	-	$	(38,253,478)	$	10,976,448		83,962,746	$	291,647,170
Italgas SpA		219,221,761		17,448,830		-		-		4,637,734		-		41,420,708		241,308,325
Pennon Group PLC		138,457,838		13,029,431		-		-		(22,719,866)		2,799,301		15,739,198		128,767,403
SES SA		139,222,404		368,900		-		-		1,169,272		-		21,121,589		140,760,576
Total Securities	$	826,802,651	$	30,847,161	$	-	$	-	$	(55,166,338)	$	13,775,749		162,244,241	$	802,483,474

(»)	The Portfolio, at all times, maintains portfolio securities in sufficient amount to cover its obligations related to investments in forward currency contracts.
(§)	Variable and floating rate securities are securities for which interest rate changes are based on changes in a designated base rate. The rates shown are those in effect on March 31, 2024.
(±)	Some or all of this security position has been pledged to cover collateral requirements on securities sold short.
(«)	Issue in default.
(††)	A note or bond that offers protection from inflation by paying a fixed rate of interest on the principal amount that is adjusted for inflation, in the applicable region, based on the Consumer Price Index or other equivalent regional benchmarks for measuring inflation.
(•)	Lazard Real Assets Portfolio’s Portfolio of Investments and accompanying notes are presented on a consolidated basis.
(Ø)	Step up bonds are securities which increase the interest payment rate at a specified point in time. Rate shown reflects rate in effect at March 31, 2024 which may step up at a future date.
(Δ)	The security is owned by Lazard Real Assets Portfolio Ltd., a wholly-owned subsidiary of the Portfolio.

Security Abbreviations:

ADR	- American Depositary Receipt	NVDR	- Non-Voting Depository Receipt
CDOR	- Canadian Dollar Offered Rate	PJSC	- Public Joint Stock Company
CVA	- Certificaten Van Aandelen	PRIBOR	- Parague Interbank Offered Rate
CVR	- Contingent Value Rights	REIT	- Real Estate Investment Trusts
ETF	- Exchange-Traded Fund	SOFR	- Secured Overnight Financing Rate
GDR	- Global Depositary Receipt	WIBOR	- Warsaw Interbank Offered Rate

Currency Abbreviations:

AUD	- Australian Dollar	JPY	- Japanese Yen
CAD	- Canadian Dollar	KRW	- South Korean Won
CHF	- Swiss Franc	MXN	- Mexican New Peso
CNH	- Chinese Yuan Renminbi	NOK	- Norwegian Krone
COP	- Colombian Peso	NZD	- New Zealand Dollar
CZK	- Czech Koruna	PEN	- Peruvian Nuevo Sol
DKK	- Danish Krone	PLN	- Polish Zloty
EUR	- Euro	RON	- New Romanian Leu
GBP	- British Pound Sterling	SEK	- Swedish Krona
HKD	- Hong-Kong Dollar	SGD	- Singapore Dollar
HUF	- Hungarian Forint	THB	- Thai Baht
IDR	- Indonesian rupiah	USD	- United States Dollar
ILS	- Israeli Shekel
INR	- Indian rupee

Counterparty Abbreviations:

BNP	- BNP Paribas SA	MEL	- Bank of New York Mellon Corp.
BOA	- Bank of America	MSC	- Morgan Stanley & Co.
CAN	- Canadian Imperial Bank of Commerce	NIP	- Nomura International Plc
CIT	- Citibank N.A.	RBC	- Royal Bank of Canada
GSC	- Goldman Sachs International	SCB	- Standard Chartered Bank
HSB	- HSBC Bank USA N.A.	SSB	- State Street Bank & Trust Co.
JPM	- JPMorgan Chase Bank N.A.

Portfolio holdings by industry (as a percentage of net assets), for those Portfolios previously presented by country:
Industry†	Lazard Developing Markets Equity Portfolio		Lazard Emerging Markets Core Equity Portfolio		Lazard Emerging Markets Equity Advantage Portfolio		Lazard Emerging Markets Equity Portfolio		Lazard Equity Franchise Portfolio
Common & Preferred Stocks
Aerospace & Defense	—	%	—	%	1.2	%	—	%	—	%
Air Freight & Logistics	3.3		—		0.2		—		—
Automobile Components	0.5		—		0.6		2.0		—
Automobiles	1.3		1.1		3.5		0.7		—
Banks	20.4		21.2		16.1		20.5		—
Beverages	3.1		2.2		1.8		—		—
Biotechnology	—		0.9		—		—		—
Broadline Retail	3.1		5.1		4.8		1.9		5.0
Building Products	—		—		0.3		—		—
Capital Markets	—		1.8		0.7		—		—
Chemicals	0.6		1.7		1.5		1.0		—
Commercial Services & Supplies	—		—		—		—		2.0
Communications Equipment	0.8		—		0.7		—		2.1
Construction & Engineering	—		1.8		0.6		—		2.0
Construction Materials	—		—		0.5		0.8		—
Consumer Finance	1.2		—		0.8		—		—
Consumer Staples Distribution & Retail	—		1.7		—		—		—
Containers & Packaging	—		—		0.1		—		—
Diversified Consumer Services	—		—		0.4		—		6.0
Diversified REITs	—		—		0.4		—		—
Diversified Telecommunication Services	—		0.8		1.5		4.3		—
Electric Utilities	—		0.7		0.4		—		0.6
Electrical Equipment	2.5		—		0.9		0.9		—
Electronic Equipment, Instruments & Components	4.7		—		2.4		2.3		—
Energy Equipment & Services	0.8		1.3		—		—		—
Entertainment	—		1.1		2.0		0.7		—
Financial Services	2.5		1.3		1.6		—		11.1
Food Products	—		—		1.4		2.0		5.6
Gas Utilities	—		—		0.4		0.8		3.1
Ground Transportation	1.1		—		—		—		—
Health Care Equipment & Supplies	—		0.9		0.2		—		3.5
Health Care Providers & Services	—		—		0.5		2.7		14.3
Hotels, Restaurants & Leisure	4.0		4.1		2.1		0.7		6.1
Household Durables	1.0		2.2		0.3		3.8		—
Household Products	—		0.7		0.5		1.2		5.4
Independent Power & Renewable Electricity Producers	—		—		1.0		0.7		—
Industrial Conglomerates	—		1.5		0.5		2.0		—
Insurance	1.0		1.0		3.0		4.7		—
Interactive Media & Services	4.5		4.2		4.8		1.1		—
IT Services	1.8		1.6		2.4		1.8		3.0
Machinery	4.5		2.2		1.7		2.2		3.9
Marine Transportation	—		—		0.3		—		—
Media	—		—		—		—		9.8
Metals & Mining	—		3.3		3.3		4.2		—
Multi-Utilities	—		—		—		—		6.0
Oil, Gas & Consumable Fuels	4.0		5.9		4.8		7.4		—
Paper & Forest Products	0.6		—		0.3		—		—
Passenger Airlines	—		—		0.5		—		—
Personal Care Products	—		1.3		—		2.4		—
Pharmaceuticals	2.4		0.8		3.7		0.5		—
Professional Services	—		—		0.3		—		—
Real Estate Management & Development	—		2.2		1.0		0.4		—
Semiconductors & Semiconductor Equipment	15.6		17.0		12.1		14.2		—
Software	1.8		—		0.4		—		—
Specialty Retail	2.3		—		0.3		1.2		—
Technology Hardware, Storage & Peripherals	6.7		4.0		6.9		3.4		—
Textiles, Apparel & Luxury Goods	1.2		1.3		0.3		—		—
Tobacco	—		0.8		—		0.7		—
Trading Companies & Distributors	—		—		0.1		—		—
Transportation Infrastructure	1.4		2.1		1.0		1.9		—

Water Utilities	—		—		0.6		—		7.9
Wireless Telecommunication Services	—		—		0.8		2.4		—
Subtotal	98.7		99.8		98.5		97.5		97.4
Short-Term Investments	1.3		0.7		1.1		2.1		2.5
Total Investments	100.0	%	100.5	%	99.6	%	99.6	%	99.9	%

†	Industry classifications may be different than those used for compliance monitoring purposes.

Portfolio holdings by industry (as a percentage of net assets), for those Portfolios previously presented by country:
Industry†	Lazard Global Equity Select Portfolio		Lazard Global Listed Infrastructure Portfolio		Lazard Global Strategic Equity Portfolio		Lazard International Equity Advantage Portfolio		Lazard International Equity Portfolio
Common & Preferred Stocks
Aerospace & Defense	1.3	%	—	%	2.4	%	0.9	%	5.8	%
Automobile Components	—		—		0.7		—		1.4
Automobiles	—		—		—		7.2		1.4
Banks	5.8		—		1.0		12.9		8.0
Beverages	5.5		—		2.7		0.6		4.3
Broadline Retail	5.2		—		—		3.2		—
Building Products	0.7		—		1.0		0.2		—
Capital Markets	6.5		—		7.0		2.8		2.7
Chemicals	—		—		2.7		1.1		3.9
Commercial Services & Supplies	—		—		—		1.3		1.0
Communications Equipment	2.1		—		—		0.4		—
Construction & Engineering	—		12.9		—		2.2		—
Construction Materials	—		—		1.0		0.1		0.7
Consumer Staples Distribution & Retail	0.8		—		—		1.2		1.6
Containers & Packaging	0.9		—		—		0.3		—
Diversified Consumer Services	—		—		—		0.1		—
Diversified REITs	—		—		—		0.1		—
Diversified Telecommunication Services	—		—		—		0.1		1.3
Electric Utilities	—		27.8		—		0.3		0.9
Electrical Equipment	3.8		—		1.0		3.3		2.2
Electronic Equipment, Instruments & Components	2.7		—		2.1		1.3		0.9
Entertainment	1.7		—		1.0		1.5		1.2
Financial Services	2.2		—		3.3		1.1		—
Food Products	—		—		—		0.3		—
Gas Utilities	—		7.2		—		0.3		—
Ground Transportation	—		8.9		1.4		0.1		—
Health Care Equipment & Supplies	—		—		—		0.4		1.5
Health Care Providers & Services	1.2		—		1.0		0.5		—
Hotels, Restaurants & Leisure	1.3		—		—		2.3		1.6
Household Durables	1.3		—		—		1.7		—
Household Products	1.6		—		—		0.2		1.4
Independent Power & Renewable Electricity Producers	—		1.2		—		0.5		—
Industrial Conglomerates	—		—		—		—		2.2
Insurance	2.7		—		6.6		4.6		2.8
Interactive Media & Services	5.0		—		4.3		1.5		1.6
IT Services	2.5		—		4.7		2.1		2.4
Leisure Products	1.2		—		—		0.4		0.7
Life Sciences Tools & Services	6.2		—		8.3		—		2.2
Machinery	3.7		—		2.5		1.3		4.0
Marine Transportation	—		—		—		0.1		—
Media	0.6		2.2		1.3		0.1		0.6
Metals & Mining	—		—		—		2.8		—
Multi-Utilities	—		13.8		—		0.1		1.6
Oil, Gas & Consumable Fuels	—		—		—		3.2		3.4
Paper & Forest Products	—		—		—		0.1		—
Passenger Airlines	—		—		1.0		1.8		2.0
Personal Care Products	2.5		—		—		0.1		2.0
Pharmaceuticals	3.8		—		6.0		10.8		4.9
Professional Services	7.7		—		4.3		2.4		7.3
Real Estate Management & Development	—		—		—		1.2		0.4
Retail REITs	—		—		—		1.1		—
Semiconductors & Semiconductor Equipment	6.6		—		18.6		8.2		5.1
Software	6.6		—		8.3		2.5		1.8
Specialty Retail	1.3		—		1.2		0.1		3.6
Technology Hardware, Storage & Peripherals	—		—		—		3.1		1.3
Textiles, Apparel & Luxury Goods	2.3		—		—		0.3		4.6
Tobacco	—		—		—		1.3		—
Trading Companies & Distributors	1.4		—		2.5		0.6		—
Transportation Infrastructure	—		7.5		—		0.3		—

Water Utilities	—		10.5		—		0.1		—
Wireless Telecommunication Services	—		—		—		0.7		—
Subtotal	98.7		92.0		97.9		99.4		96.3
Warrants	—		—		—		0.0		—
Short-Term Investments	1.2		7.2		2.4		0.2		1.4
Total Investments	99.9	%	99.2	%	100.3	%	99.6	%	97.7	%

†	Industry classifications may be different than those used for compliance monitoring purposes.

Portfolio holdings by industry (as a percentage of net assets), for those Portfolios previously presented by country:
Industry†	Lazard International Equity Select Portfolio		Lazard International Quality Growth Portfolio		Lazard International Small Cap Equity Portfolio		Lazard International Strategic Equity Portfolio		Lazard Managed Equity Volatility Portfolio
Common & Preferred Stocks
Aerospace & Defense	4.5	%	—	%	1.2	%	4.3	%	2.3	%
Automobile Components	1.2		—		2.8		2.2		0.3
Automobiles	0.8		—		—		1.0		—
Banks	10.9		4.7		3.9		8.0		2.9
Beverages	3.2		3.8		3.9		7.7		1.3
Biotechnology	—		—		1.5		—		3.7
Broadline Retail	0.9		3.0		—		—		0.3
Building Products	0.6		2.4		4.0		1.1		0.2
Capital Markets	1.1		7.0		3.9		2.7		1.1
Chemicals	4.8		—		4.8		—		2.0
Commercial Services & Supplies	0.8		—		—		—		2.0
Communications Equipment	—		—		—		—		1.0
Construction & Engineering	—		—		—		—		0.5
Construction Materials	0.8		—		—		1.7		—
Consumer Finance	—		—		—		—		0.3
Consumer Staples Distribution & Retail	—		2.3		1.0		0.8		5.3
Containers & Packaging	—		—		—		—		0.5
Diversified Consumer Services	—		—		—		—		0.2
Diversified REITs	—		—		—		—		0.2
Diversified Telecommunication Services	0.9		—		—		—		3.7
Electric Utilities	—		—		—		1.1		2.7
Electrical Equipment	2.7		2.0		—		1.9		—
Electronic Equipment, Instruments & Components	—		9.2		3.4		2.1		0.7
Energy Equipment & Services	—		—		1.2		—		—
Entertainment	1.1		2.9		1.0		—		0.9
Financial Services	—		—		3.2		0.8		2.2
Food Products	—		—		2.0		—		3.6
Gas Utilities	1.0		—		3.2		—		3.6
Ground Transportation	—		—		—		2.0		2.3
Health Care Equipment & Supplies	2.6		4.0		2.9		2.0		0.5
Health Care Providers & Services	—		—		—		—		6.8
Health Care REITs	—		—		0.5		—		—
Health Care Technology	—		2.1		—		—		—
Hotels, Restaurants & Leisure	2.3		—		—		2.2		0.2
Household Durables	—		—		2.2		—		0.2
Household Products	0.9		0.3		—		—		5.5
Industrial Conglomerates	0.8		—		—		2.4		0.4
Industrial REITs	—		—		2.3		—		—
Insurance	5.4		6.2		2.4		6.5		6.7
Interactive Media & Services	2.5		3.6		1.2		—		1.3
IT Services	2.9		3.0		0.8		3.0		3.1
Leisure Products	—		2.2		2.7		—		0.3
Life Sciences Tools & Services	1.7		2.1		1.9		4.9		—
Machinery	3.9		2.6		5.4		2.5		1.3
Media	—		—		—		2.4		0.6
Metals & Mining	—		—		0.7		—		—
Multi-Utilities	1.5		—		—		1.5		2.1
Office REITs	—		—		—		—		0.7
Oil, Gas & Consumable Fuels	4.6		—		1.4		1.9		1.2
Passenger Airlines	2.7		—		1.2		2.4		0.3
Personal Care Products	1.9		2.3		—		—		0.9
Pharmaceuticals	5.4		—		—		7.0		8.8
Professional Services	6.4		10.1		10.7		6.2		2.8
Real Estate Management & Development	0.3		—		3.9		—		0.2
Retail REITs	—		—		—		—		0.5
Semiconductors & Semiconductor Equipment	9.2		5.5		2.7		11.7		0.8
Software	1.6		5.8		3.2		—		3.3
Specialized REITs	—		—		2.0		—		0.8
Specialty Retail	0.7		2.8		3.8		0.8		1.5
Technology Hardware, Storage & Peripherals	1.0		—		—		1.4		1.5

Textiles, Apparel & Luxury Goods	2.2		3.6		1.9		—		0.2
Tobacco	—		—		—		—		1.1
Trading Companies & Distributors	1.2		3.5		2.5		0.9		0.9
Wireless Telecommunication Services	—		—		—		—		1.0
Subtotal	97.0		97.0		97.3		97.1		99.3
Warrants	—		—		—		—		0.0
Short-Term Investments	3.1		3.0		2.1		2.8		0.5
Total Investments	100.1	%	100.0	%	99.4	%	99.9	%	99.8	%

†	Industry classifications may be different than those used for compliance monitoring purposes.

Portfolio holdings by industry (as a percentage of net assets), for those Portfolios previously presented by country:
Industry†	Lazard US Equity Concentrated Portfolio		Lazard US Equity Focus Portfolio		Lazard US Small Cap Equity Select Portfolio		Lazard US Sustainable Equity Portfolio		Lazard US Systematic Small Cap Equity Portfolio
Common & Preferred Stocks and Closed-End Management Investment Companies
Aerospace & Defense	—	%	—	%	1.1	%	—	%	0.1	%
Automobile Components	—		0.7		1.1		0.7		1.3
Automobiles	—		—		—		—		0.4
Banks	—		3.2		6.5		2.3		1.5
Beverages	—		—		—		—		0.2
Biotechnology	—		—		3.0		—		5.1
Broadline Retail	—		6.9		—		—		0.5
Building Products	—		—		2.5		2.3		2.5
Capital Markets	6.8		7.9		4.9		5.5		1.8
Chemicals	—		—		1.0		0.2		1.1
Commercial Services & Supplies	4.7		3.2		1.4		3.6		3.8
Communications Equipment	—		—		1.3		1.0		1.3
Construction & Engineering	—		—		—		—		1.5
Construction Materials	3.4		—		1.3		—		0.3
Consumer Finance	—		3.2		—		1.9		1.1
Consumer Staples Distribution & Retail	—		1.9		3.9		1.2		0.5
Containers & Packaging	—		1.9		2.7		1.6		1.0
Distributors	3.9		—		—		—		0.2
Diversified Consumer Services	—		—		—		—		2.7
Diversified REITs	—		—		—		—		0.4
Diversified Telecommunication Services	—		—		—		—		0.2
Electrical Equipment	2.7		—		2.3		2.8		2.9
Electronic Equipment, Instruments & Components	—		—		1.4		1.3		4.8
Energy Equipment & Services	—		—		3.6		—		0.6
Entertainment	3.6		—		—		—		0.2
Financial Services	12.4		4.2		1.2		3.9		1.4
Ground Transportation	—		3.4		—		2.3		0.5
Health Care Equipment & Supplies	—		2.0		4.6		3.8		3.7
Health Care Providers & Services	11.3		3.4		0.9		4.8		2.1
Health Care REITs	—		—		—		—		0.7
Health Care Technology	—		—		2.0		—		0.2
Hotels, Restaurants & Leisure	3.8		3.0		3.1		—		1.4
Household Durables	—		—		1.1		—		2.1
Household Products	—		—		—		2.6		0.2
Independent Power & Renewable Electricity Producers	—		—		—		—		0.4
Industrial Conglomerates	—		2.1		—		—		—
Industrial REITs	—		2.1		—		2.3		0.7
Insurance	—		3.6		2.8		—		2.1
Interactive Media & Services	8.1		6.3		3.4		—		1.6
Investment Companies	—		—		—		—		0.4
IT Services	4.6		2.8		2.6		3.4		1.4
Leisure Products	—		—		0.8		—		2.1
Life Sciences Tools & Services	—		6.4		4.4		9.1		2.0
Machinery	4.9		—		5.4		4.9		3.8
Marine Transportation	—		—		—		—		1.4
Media	—		—		—		—		0.9
Mortgage Real Estate Investment Trusts (REITs)	—		—		—		—		0.7
Office REITs	—		—		—		—		0.3
Oil, Gas & Consumable Fuels	—		3.4		3.6		—		0.3
Paper & Forest Products	—		—		—		—		0.3
Personal Care Products	—		1.6		—		1.1		0.8
Pharmaceuticals	—		2.7		—		3.3		0.3
Professional Services	4.9		—		1.1		—		4.8
Real Estate Management & Development	—		—		1.7		—		0.4
Residential REITs	—		—		1.3		—		0.4
Retail REITs	—		—		1.5		—		1.8
Semiconductors & Semiconductor Equipment	5.5		7.8		5.4		7.3		2.0
Software	6.2		10.5		5.4		16.7		11.6

Specialized REITs	9.6		—		1.3		—		0.4
Specialty Retail	—		—		6.1		3.2		3.4
Technology Hardware, Storage & Peripherals	—		3.1		—		3.0		1.1
Textiles, Apparel & Luxury Goods	—		—		—		0.9		2.4
Trading Companies & Distributors	—		—		0.8		—		2.7
Wireless Telecommunication Services	—		—		—		—		0.1
Subtotal	96.4		97.3		98.5		97.0		98.9
Rights	—		—		—		—		0.0
Short-Term Investments	3.7		2.8		—		3.1		0.9
Total Investments	100.1	%	100.1	%	98.5	%	100.1	%	99.8	%

†	Industry classifications may be different than those used for compliance monitoring purposes.

Portfolio holdings by industry (as a percentage of net assets), for those Portfolios previously presented by country:

	Lazard Enhanced Opportunities Portfolio
Industry†		Long		Short
Common Stocks and Convertible Corporate Bonds
Aerospace & Defense		0.1	%	—	%
Air Freight & Logistics		0.4		-0.1
Automobile Components		—		-0.1
Automobiles		0.5		-0.4
Banks		2.2		—
Biotechnology		5.5		-3.5
Capital Markets		1.1		-0.5
Chemicals		1.9		-1.2
Communications Equipment		1.4		—
Consumer Finance		5.3		-3.7
Consumer Staples Distribution & Retail		1.0		-0.6
Diversified Consumer Services		0.9		—
Electrical Equipment		3.3		-1.0
Electronic Equipment, Instruments & Components		0.9		-0.5
Energy Equipment & Services		0.8		-2.5
Entertainment		2.0		-2.8
Financial Services		5.3		-0.7
Ground Transportation		0.1		—
Health Care Equipment & Supplies		13.5		-4.7
Health Care Providers & Services		—		-0.7
Health Care Technology		0.1		-0.2
Hotels, Restaurants & Leisure		6.4		-3.9
Hotel & Resort REITs		0.8		-0.2
Interactive Media & Services		4.7		-0.3
IT Services		9.7		-1.0
Leisure Products		—		-0.1
Life Sciences Tools & Services		1.7		-0.2
Machinery		10.2		-8.2
Marine Transportation		5.4		-5.4
Media		4.0		-0.2
Metals & Mining		2.1		-1.9
Mortgage Real Estate Investment Trusts (REITs)		2.7		-0.5
Oil, Gas & Consumable Fuels		4.0		-0.4
Passenger Airlines		0.3		-1.5
Pharmaceuticals		5.0		—
Professional Services		1.0		-0.4
Real Estate Management & Development		0.8		-0.3
Semiconductors & Semiconductor Equipment		3.5		-1.7
Software		21.0		-5.8
Specialty Retail		1.7		-0.6
Technology Hardware, Storage & Peripherals		0.7		-0.4
Subtotal		132.0		-56.2
Exchange-Traded Funds		—		-3.8
Purchased Options		0.1		—
U.S. Treasury Securities		36.8		-28.8
Short-Term Investments		3.7		—
Total Investments		172.6	%	-88.8	%

†	Industry classifications may be different than those used for compliance monitoring purposes.

Portfolio holdings by industry (as a percentage of net assets), for those Portfolios previously presented by country:

Industry†	Lazard Global Dynamic Multi-Asset Portfolio			Lazard Real Assets Portfolio
Common & Preferred Stocks and Corporate & Quasi Government Bonds
Aerospace & Defense		0.7	%		—	%
Air Freight & Logistics		0.1			—
Automobile Components		0.1			—
Automobiles		2.1			—
Banks		5.7			—
Beverages		1.2			—
Biotechnology		1.3			—
Broadline Retail		1.1			—
Building Products		0.9			—
Capital Markets		2.5			—
Chemicals		0.5			0.3
Commercial Services & Supplies		1.2			—
Communications Equipment		0.4			—
Construction & Engineering		0.4			2.3
Construction Materials		—			—
Consumer Finance		0.2			—
Consumer Staples Distribution & Retail		2.1			—
Containers & Packaging		0.2			—
Diversified Consumer Services		—			—
Diversified REITs		0.4			0.9
Diversified Telecommunication Services		1.6			—
Electric Utilities		0.9			10.6
Electrical Equipment		0.6			—
Electronic Equipment, Instruments & Components		1.2			—
Entertainment		0.5			—
Financial Services		2.1			—
Food Products		0.5			—
Gas Utilities		0.6			1.2
Ground Transportation		0.4			3.3
Health Care Equipment & Supplies		0.6			—
Health Care Providers & Services		3.2			—
Health Care REITs		—			2.7
Hotels, Restaurants & Leisure		1.4			0.3
Hotel & Resort REITs		0.1			2.1
Household Durables		0.9			—
Household Products		1.5			—
Industrial Conglomerates		0.2			—
Industrial REITs		0.2			4.9
Insurance		2.7			—
Interactive Media & Services		2.9			—
IT Services		1.3			—
Leisure Products		0.2			—
Life Sciences Tools & Services		0.7			—
Machinery		1.5			—
Marine Transportation		0.1			1.2
Media		0.7			0.1
Metals & Mining		0.3			0.6
Multi-Utilities		0.4			3.6
Office REITs		0.1			3.2
Oil, Gas & Consumable Fuels		0.9			6.0
Paper & Forest Products		—			0.3
Passenger Airlines		0.2			—
Personal Care Products		0.5			—
Pharmaceuticals		5.0			—
Professional Services		1.4			—
Real Estate Management & Development		0.2			3.3
Residential REITs		—			6.7
Retail REITs		0.4			6.7

Semiconductors & Semiconductor Equipment	5.0		—
Software	6.0		—
Specialized REITs	0.2		10.2
Specialty Retail	1.6		—
Technology Hardware, Storage & Peripherals	1.6		—
Textiles, Apparel & Luxury Goods	0.4		—
Tobacco	0.3		—
Trading Companies & Distributors	0.7		—
Transportation Infrastructure	—		1.2
Water Utilities	—		0.5
Wireless Telecommunication Services	0.3		—
Subtotal	73.2		72.2
Exchange-Traded Funds	1.2		5.0
Foreign Government Obligations	17.6		—
Supranational Bonds	4.2		—
U.S. Treasury Securities	2.0		—
Short-Term Investments	1.2		18.1
Warrants	0.0		—
Total Investments	99.4	%	95.3	%

†	Industry classifications may be different than those used for compliance monitoring purposes.

Various inputs are used in determining the fair value of investments and derivative financial instruments. For information about the Fund’s policy regarding valuation of investments and derivative financial instruments, refer to notes to the financial statements.

Item 2. Controls and Procedures.

(a) The Registrant’s principal executive and principal financial officers have concluded, based on their evaluation of the Registrant’s disclosure controls and procedures as of a date within 90 days of the filing date of this report, that the Registrant’s disclosure controls and procedures are reasonably designed to ensure that information required to be disclosed by the Registrant on Form N-Q is recorded, processed, summarized and reported within the required time periods and that information required to be disclosed by the Registrant in the reports that it files or submits on Form N-Q is accumulated and communicated to the Registrant’s management, including its principal executive and principal financial officers, as appropriate to allow timely decisions regarding required disclosure.

(b) There were no changes to the Registrant’s internal control over financial reporting that occurred during the Registrant’s most recent fiscal quarter of the period covered by this report that have materially affected, or are reasonably likely to materially affect, the Registrant’s internal control over financial reporting.

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the Registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

The Lazard Funds, Inc.

By:	/s/ Nathan A. Paul
	Nathan A. Paul
	Chief Executive Officer

Date: May 23, 2024

Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the Registrant and in the capacities and on the dates indicated.

By:	/s/ Nathan A. Paul
	Nathan A. Paul
	Chief Executive Officer

Date: May 23, 2024

By:	/s/ Christina Kennedy
	Christina Kennedy
	Chief Financial Officer

Date: May 23, 2024

Lazard Funds NPORT-PLazard Global Dynamic Multi-Asset Portfolio (Mar 2024 report)