Lazard Retirement Series Annual Report - Lazard Funds

Description Shares Value Description Shares Value
Lazard Retirement U.S. Strategic Equity Portfolio (concluded)
Preferred Stock | 0.0%
Pharmaceutical & Biotechnology | 8.7%
Gilead Sciences, Inc. (a) 1,530 $ 112,379
Johnson & Johnson 1,930 135,293
Merck & Co., Inc. 1,459 59,731
Pfizer, Inc. 11,000 275,880
583,283
Retail | 12.7%
American Eagle Outfitters, Inc. 5,355 109,831
AutoZone, Inc. (a) 197 69,823
Big Lots, Inc. (a) 1,945 55,354
CVS Caremark Corp. 3,945 190,741
Lowe’s Cos., Inc. 2,540 90,221
Macy’s, Inc. 2,000 78,040
Wal-Mart Stores, Inc. 3,800 259,274
853,284
Semiconductors & Components | 2.2%
Intel Corp. 2,735 56,423
Texas Instruments, Inc. 2,850 88,179
144,602
Technology | 2.0%
Google, Inc., Class A (a) 193 136,908
Automotive | 0.0%
Better Place, Inc., Series B
(Identified cost $31,701) (a), (c) 12,681 $ 1,649
Short-Term Investment | 1.3%
State Street Institutional Treasury
Money Market Fund
(Identified cost $83,834) 83,834 83,834
Total Investments | 100.1%
(Identified cost $5,954,882) (b) $6,709,452
Liabilities in Excess of Cash and
Other Assets | (0.1)% (7,499)
Net Assets | 100.0% $6,701,953
Technology Hardware | 11.8%
Apple, Inc. 273 145,517
Cisco Systems, Inc. 15,375 302,119
EMC Corp. (a) 4,150 104,995
International Business Machines Corp. 630 120,676
Lexmark International, Inc., Class A 1,710 39,655
Qualcomm, Inc. 1,245 77,215
790,177
Total Common Stocks
(Identified cost $5,839,347) 6,623,969
The accompanying notes are an integral part of these financial statements.
Annual Report 17