NPORT-EX 2 NPORT_4593_60507109_0324.htm

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 811-21511

 

Lazard Global Total Return and Income Fund, 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.

 

Lazard Global Total Return and Income Fund, Inc.

Portfolio of Investments

March 31, 2024 (unaudited)

 

Description  Shares   Fair
Value		 
Common Stocks  |  98.0%          
Australia  |  0.8%          
Computershare Ltd.   116,938   $1,990,011 
Canada  |  4.8%          
Dollarama, Inc.   42,200    3,214,808 
National Bank of Canada   59,309    4,994,119 
Toromont Industries Ltd.   35,384    3,405,046 
         11,613,973 
China  |  2.4%          
NXP Semiconductors NV   15,384    3,811,694 
Tencent Holdings Ltd.   50,600    1,974,649 
         5,786,343 
Denmark  |  0.8%          
Carlsberg AS, Class B   13,246    1,814,875 
Finland  |  0.8%          
Kone OYJ, Class B   39,930    1,857,315 
France  |  4.3%          
Legrand SA   18,958    2,005,718 
LVMH Moet Hennessy Louis Vuitton SE   3,903    3,530,018 
Pernod Ricard SA   11,418    1,846,168 
Thales SA   17,951    3,060,225 
         10,442,129 
Germany  |  0.8%          
Merck KGaA   10,948    1,932,193 
Hong Kong  |  0.7%          
AIA Group Ltd.   232,400    1,559,634 
India  |  1.1%          
HDFC Bank Ltd. ADR   44,939    2,515,236 
Japan  |  3.2%          
FANUC Corp.   77,000    2,153,607 
Kadokawa Corp.   84,300    1,479,123 
Nintendo Co. Ltd.   51,000    2,791,376 
Shimano, Inc.   9,100    1,358,847 
         7,782,953 
Netherlands  |  3.2%          
ASM International NV   4,867    2,965,003 
Wolters Kluwer NV   30,625    4,796,138 
         7,761,141 
Spain  |  1.3%    
Industria de Diseno Textil SA   60,109    3,026,898 
Sweden  |  2.8%          
Assa Abloy AB, Class B   56,135    1,610,220 
Epiroc AB, Class A   123,161    2,322,264 
Description   Shares    Fair
Value		 
Hexagon AB, B Shares   238,041   $2,817,706 
         6,750,190 
Switzerland  |  3.1%          
ABB Ltd.   93,758    4,351,561 
Partners Group Holding AG   2,233    3,190,869 
         7,542,430 
Taiwan  |  2.3%          
Taiwan Semiconductor Manufacturing Co. Ltd. ADR   40,713    5,539,004 
United Kingdom  |  6.4%          
Coca-Cola Europacific Partners PLC   44,299    3,098,715 
Diageo PLC   70,610    2,607,671 
RELX PLC   134,435    5,822,499 
Unilever PLC   77,085    3,870,912 
         15,399,797 
United States  |  59.2%          
Accenture PLC, Class A   17,510    6,069,141 
Alphabet, Inc., Class A (*)   66,045    9,968,172 
Amazon.com, Inc. (*)   51,330    9,258,905 
Amphenol Corp., Class A   31,448    3,627,527 
Aon PLC, Class A   14,420    4,812,242 
Avery Dennison Corp.   9,643    2,152,800 
Bank of America Corp.   74,567    2,827,581 
Booz Allen Hamilton Holding Corp.   38,500    5,714,940 
BRP, Inc.   22,983    1,543,172 
Charles Schwab Corp.   47,302    3,421,827 
Coca-Cola Co.   62,283    3,810,474 
Danaher Corp.   17,925    4,476,231 
Deere & Co.   6,016    2,471,012 
Estee Lauder Cos., Inc., Class A   14,208    2,190,163 
Intercontinental Exchange, Inc.   35,599    4,892,371 
IQVIA Holdings, Inc. (*)   20,309    5,135,943 
Johnson & Johnson   26,983    4,268,441 
McDonald’s Corp.   10,758    3,033,218 
Microsoft Corp.   27,570    11,599,250 
Motorola Solutions, Inc.   14,436    5,124,491 
NIKE, Inc., Class B   21,765    2,045,475 
Procter & Gamble Co.   23,206    3,765,173 
PTC, Inc. (*)   20,011    3,780,878 
Rockwell Automation, Inc.   9,468    2,758,312 
S&P Global, Inc.   9,393    3,996,252 
Sysco Corp.   22,587    1,833,613 
Texas Instruments, Inc.   20,049    3,492,736 
Thermo Fisher Scientific, Inc.   9,095    5,286,105 
TopBuild Corp. (*)   7,089    3,124,335 
UnitedHealth Group, Inc.   6,002    2,969,189 


 

Lazard Global Total Return and Income Fund, Inc.

Portfolio of Investments (continued)

March 31, 2024 (unaudited)

 

Description   Shares    Fair
Value		 
Visa, Inc., A Shares   18,888   $5,271,263 
Warner Music Group Corp., Class A   37,031    1,222,764 
Wells Fargo & Co.   58,651    3,399,412 
Zoetis, Inc.   17,055    2,885,877 
         142,229,285 
Total Common Stocks
(Cost $151,610,692)		        235,543,407 
         
Description  Principal
Amount
(000) («)		   Fair
Value		 
Foreign Government Obligations  |  6.4%  
Brazil  |  2.2%          
Brazil Notas do Tesouro Nacional,
10.00%, 01/01/29		   26,360   $5,132,297 
Indonesia  |  0.6%          
Indonesia Treasury Bonds,
8.375%, 09/15/26		   22,166,000    1,457,317 
Malaysia  |  1.8%          
Malaysia Government Bonds:          
3.502%, 05/31/27   10,260    2,166,349 
3.733%, 06/15/28   10,500    2,228,006 
         4,394,355 
Mexico  |  1.1%          
Mexico Bonos,
7.75%, 05/29/31		   49,000    2,714,424 
South Africa  |  0.7%          
South Africa Government Bonds,
10.50%, 12/21/26		   32,000    1,733,369 
Total Foreign Government Obligations
(Cost $16,947,812)		    15,431,762 
           
Description   Shares    
Fair
Value		 
Short-Term Investments  |  4.8%
State Street Institutional Treasury Money Market Fund, Premier Class, 5.24% (7 day yield)
(Cost $11,456,289)		  11,456,289   $11,456,289 
Total Investments  |  109.2%
(Cost $180,014,793) (»)		       $262,431,458 
Liabilities in Excess of Cash and Other Assets  |  (9.2)%    (22,125,722) 
Net Assets  |  100.0%       $240,305,736 


 

Lazard Global Total Return and Income Fund, Inc.

Portfolio of Investments (concluded)

March 31, 2024 (unaudited)

Forward Currency Contracts open at March 31, 2024:

Currency
Purchased		  Quantity  Currency
Sold		  Quantity  Counterparty  Settlement
Date		  Unrealized
Appreciation		   Unrealized
Depreciation		 
CLP  3,998,516,250  USD  4,101,337  CIT  05/15/24  $—   $25,395 
CLP  1,665,846,000  USD  1,755,000  SCB  06/18/24   —    58,109 
CNY  44,166,745  USD  6,230,145  HSB  04/01/24   —    119,173 
CNY  44,166,745  USD  6,222,421  HSB  05/21/24   —    24,341 
COP  20,222,599,430  USD  5,108,755  CIT  05/14/24   86,366    — 
EGP  85,346,100  USD  1,767,000  HSB  05/21/24   13,136    — 
HUF  1,749,757,107  USD  4,812,407  CIT  04/15/24   —    22,971 
IDR  73,902,495,000  USD  4,733,092  CIT  09/17/24   —    98,879 
ILS  16,421,616  USD  4,355,000  CIT  06/18/24   125,837    — 
INR  542,269,070  USD  6,529,335  CIT  06/14/24   —    40,379 
KRW  4,314,804,000  USD  3,240,072  HSB  04/25/24   —    39,339 
KZT  2,686,204,800  USD  5,752,045  SCB  09/13/24   27,518    — 
MXN  84,776,286  USD  4,846,990  HSB  05/15/24   218,194    — 
PEN  8,907,597  USD  2,283,824  CIT  04/30/24   109,377    — 
PHP  181,115,290  USD  3,219,484  JPM  05/08/24   2,671    — 
PLN  14,199,879  USD  3,607,000  CIT  05/20/24   —    53,477 
RON  22,951,768  EUR  4,570,927  JPM  04/29/24   43,156    — 
RON  4,752,300  USD  1,004,598  JPM  07/30/24   25,519    — 
SGD  4,320,380  USD  3,248,406  SCB  07/25/24   —    32,183 
THB  155,609,530  USD  4,397,302  CIT  08/23/24   —    81,110 
USD  6,218,917  CNY  44,166,745  HSB  04/01/24   107,944    — 
UYU  214,972,580  USD  5,527,140  JPM  06/21/24   138,133    — 
Total gross unrealized appreciation/depreciation on Forward Currency Contracts  $897,851   $595,356 

 

Currency Abbreviations:

CLP — Chilean Peso
CNY — Chinese Renminbi
COP — Colombian Peso
EGP — Egyptian Dollar
EUR — Euro
HUF — Hungarian Forint
IDR — Indonesian Rupiah
ILS — Israeli Shekel
INR — Indian Rupee
KRW — South Korean Won
KZT — Kazakhstan Tenge
MXN — Mexican New Peso
PEN — Peruvian New Sol
PHP — Philippine Peso
PLN — Polish Zloty
RON — New Romanian Leu
SGD — Singapore Dollar
THB — Thai Baht
USD — United States Dollar
UYU — Uruguayan Peso

Counterparty Abbreviations:

CIT — Citibank N.A.
HSB — HSBC Bank USA N.A.
JPM — JPMorgan Chase Bank N.A.
SCB — Standard Chartered Bank


 

Lazard Global Total Return and Income Fund, Inc.

Notes to Portfolio of Investments

March 31, 2024 (unaudited)

 

(*) Non-income producing security.
(«) Principal amount denominated in respective country’s currency.
(») The Fund, at all times, maintains portfolio securities in sufficient amount to cover its obligations related to investments in forward currency contracts.

 

Security Abbreviations:

ADR - American Depositary Receipt

 

Portfolio holdings by industry† (as a percentage of net assets):

Common Stocks:    
Aerospace & Defense  1.2%
Banks  5.7 
Beverages  5.4 
Broadline Retail  5.2 
Building Products  0.6 
Capital Markets  6.5 
Communications Equipment  2.1 
Consumer Staples Distribution & Retail  0.8 
Containers & Packaging  0.9 
Electrical Equipment  3.8 
Electronic Equipment, Instruments & Components  2.7 
Entertainment  1.7 
Financial Services  2.2 
Health Care Providers & Services  1.2 
Hotels, Restaurants & Leisure  1.3 
Household Durables  1.3 
Household Products  1.6 
Insurance  2.7 
Interactive Media & Services  5.0 
IT Services  2.5 
Leisure Products  1.2 
Life Sciences Tools & Services  6.2 
Machinery  3.7 
Media  0.6 
Personal Care Products  2.5 
Pharmaceuticals  3.8 
Professional Services  7.6 
Semiconductors & Semiconductor Equipment  6.6 
Software  6.4 
Specialty Retail  1.3 
Textiles, Apparel & Luxury Goods  2.3 
Trading Companies & Distributors  1.4 
Subtotal  98.0 
Foreign Government Obligations  6.4 
Short-Term Investments  4.8 
Total Investments  109.2%

 

† 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.

 

Lazard Global Total Return and Income Fund, 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