NPORT-EX 2 NPORT_4560_41388925_0322.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 811-08071

Lazard Retirement Series, 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: 3/31/2022

Item 1. Schedule of Investment

Description	Shares		Fair Value
Lazard Retirement Emerging Markets Equity Portfolio
Common Stocks \| 98.7%
Austria \| 0.6%
Mondi PLC		116,357	$	2,255,720
Brazil \| 12.6%
Banco do Brasil SA		1,188,628		8,663,087
BB Seguridade Participacoes SA		1,740,700		9,345,059
CCR SA		2,446,750		7,040,563
Engie Brasil Energia SA		384,598		3,492,931
Petroleo Brasileiro SA Sponsored ADR		715,080		10,583,184
Vale SA Sponsored ADR		184,141		3,680,979
Vibra Energia SA		737,900		3,623,592
				46,429,395
China \| 22.5%
A-Living Smart City Services Co., Ltd.		1,627,750		2,264,042
AAC Technologies Holdings, Inc.		582,691		1,398,972
Anhui Conch Cement Co., Ltd., Class H		1,100,375		5,639,403
China Construction Bank Corp., Class H		20,364,038		15,297,388
China Medical System Holdings, Ltd.		1,781,000		2,787,584
China Merchants Bank Co., Ltd., Class H		668,737		5,227,763
China Shenhua Energy Co., Ltd., Class H		994,275		3,171,444
China Vanke Co., Ltd., Class H		2,218,500		4,991,734
ENN Natural Gas Co., Ltd.		1,052,300		2,928,099
Gree Electric Appliances, Inc. of Zhuhai, Class A		780,200		3,961,304
Hengan International Group Co., Ltd.		1,192,527		5,504,804
Huayu Automotive Systems Co., Ltd., Class A		829,100		2,599,675
Lenovo Group, Ltd.		5,592,000		6,064,871
Ping An Insurance (Group) Co. of China, Ltd., Class H		951,500		6,713,383
Sinopharm Group Co., Ltd., Class H		3,097,597		7,045,155
Tingyi (Cayman Islands) Holding Corp.		1,996,000		3,347,523
Weichai Power Co., Ltd., Class H		2,233,958		3,511,543
				82,454,687
Egypt \| 1.1%
Commercial International Bank Egypt SAE GDR (*)		1,728,964		4,043,744
Greece \| 1.0%
OPAP SA		252,761		3,677,093
Hong Kong \| 1.1%
ASM Pacific Technology, Ltd.		420,088		4,248,760
Hungary \| 1.6%
OTP Bank Nyrt. (*)		162,238		5,885,537
India \| 7.6%
Axis Bank, Ltd. (*)		368,038		3,657,988
Bajaj Auto, Ltd.		62,364		2,996,888

Description	Shares		Fair Value
Bharat Petroleum Corp., Ltd.		555,242	$	2,623,234
Coal India, Ltd.		1,279,696		3,082,062
Hero MotoCorp, Ltd.		75,981		2,286,410
Indus Towers, Ltd. (*)		1,710,251		4,957,314
Petronet LNG, Ltd.		1,366,207		3,479,120
UPL, Ltd.		477,601		4,815,080
				27,898,096
Indonesia \| 4.9%
PT Astra International Tbk		10,054,004		4,593,208
PT Bank Mandiri (Persero) Tbk		13,678,830		7,505,646
PT Telkom Indonesia (Persero) Tbk ADR		181,321		5,793,206
				17,892,060
Mexico \| 5.6%
America Movil SAB de CV, Class L Sponsored ADR		180,222		3,811,695
Grupo Financiero Banorte SAB de CV, Class O		835,149		6,279,363
Grupo Mexico SAB de CV, Series B		1,068,793		6,394,488
Kimberly-Clark de Mexico SAB de CV, Series A		1,962,250		2,760,370
Ternium SA Sponsored ADR		27,884		1,272,905
				20,518,821
Portugal \| 2.5%
Galp Energia SGPS SA		713,816		9,033,271
Russia \| 0.0%
Gazprom PJSC Sponsored ADR (¢)		527,817		1
LUKOIL PJSC Sponsored ADR (¢)		76,520		0
Mobile TeleSystems PJSC Sponsored ADR (¢)		722,038		1
Sberbank of Russia PJSC (‡)		1,580,119		1
X5 Retail Group NV GDR (¢)		170,463		0
				3
South Africa \| 9.0%
Anglo American PLC		64,866		3,345,559
Life Healthcare Group Holdings, Ltd.		2,714,072		4,321,922
Nedbank Group, Ltd.		528,838		8,403,197
Sanlam, Ltd.		721,972		3,549,081
Standard Bank Group, Ltd.		408,998		5,088,594
The Bidvest Group, Ltd.		330,936		5,054,032
Vodacom Group, Ltd.		299,761		3,275,950
				33,038,335
South Korea \| 14.1%
Coway Co., Ltd.		81,343		4,585,614
Hyundai Mobis Co., Ltd.		22,948		4,052,954
KB Financial Group, Inc.		152,915		7,687,407
KT Corp.		7,447		218,728
KT&G Corp.		44,130		2,936,971

Description	Shares		Fair Value
Lazard Retirement Emerging Markets Equity Portfolio (concluded)
Samsung Electronics Co., Ltd.		227,843	$	13,016,134
Shinhan Financial Group Co., Ltd.		187,750		6,403,616
SK Hynix, Inc.		134,478		12,872,646
				51,774,070
Taiwan \| 11.4%
ASE Technology Holding Co., Ltd.		2,171,000		7,743,544
Globalwafers Co., Ltd.		103,000		2,393,324
Hon Hai Precision Industry Co., Ltd.		1,672,320		6,160,767
MediaTek, Inc.		81,000		2,525,490
Novatek Microelectronics Corp.		426,000		6,287,670
Quanta Computer, Inc.		2,167,000		6,637,365
Taiwan Semiconductor Manufacturing Co., Ltd.		264,989		5,478,498
Wiwynn Corp.		134,000		4,742,514
				41,969,172
Thailand \| 1.7%
Kasikornbank Public Co., Ltd.		726,669		3,522,654
The Siam Cement Public Co., Ltd. (‡)		228,508		2,632,137
				6,154,791
United Kingdom \| 1.4%
Unilever PLC		110,492		5,001,356
Total Common Stocks (Cost $330,079,902)				362,274,911
Short-Term Investments \| 1.2%
State Street Institutional Treasury Money Market Fund, Premier Class, 0.17% (7 day yield) (Cost $4,222,457)		4,222,457		4,222,457
Total Investments l 99.9% (Cost $334,302,359)			$	366,497,368
Cash and Other Assets in Excess of Liabilities l 0.1%				494,579
Net Assets l 100.0%			$	366,991,947

Description	Shares		Fair Value
Lazard Retirement International Equity Portfolio
Common Stocks \| 95.1%
Canada \| 4.7%
CAE, Inc. (*)		44,448	$	1,156,931
Suncor Energy, Inc.		97,117		3,161,750
TMX Group, Ltd.		16,066		1,652,415
				5,971,096
China \| 4.7%
Alibaba Group Holding, Ltd. (*)		64,300		880,092
Autohome, Inc. ADR		25,570		777,584
China Longyuan Power Group Corp., Ltd., Class H		587,000		1,330,613
ENN Energy Holdings, Ltd.		88,700		1,321,891
ESR Cayman, Ltd. (*)		534,000		1,653,159
				5,963,339
Denmark \| 1.9%
Carlsberg AS, Class B		12,237		1,494,068
Vestas Wind Systems A/S		31,603		933,083
				2,427,151
Finland \| 2.2%
Nordea Bank Abp		172,317		1,774,473
Sampo Oyj, A Shares		21,434		1,046,235
				2,820,708
France \| 12.1%
Air Liquide SA		15,111		2,643,506
Capgemini SE		10,716		2,383,701
Engie SA		230,377		3,019,876
Pernod Ricard SA		8,982		1,969,951
Sanofi		37,607		3,835,322
Thales SA		12,195		1,539,922
				15,392,278
Germany \| 7.1%
Continental AG (*)		12,014		866,583
Infineon Technologies AG		42,388		1,448,119
Merck KGaA		12,386		2,593,985
MTU Aero Engines AG		11,072		2,572,541
Vonovia SE		31,642		1,479,492
				8,960,720
India \| 1.2%
Reliance Industries, Ltd.		43,465		1,504,414
Ireland \| 1.4%
Ryanair Holdings PLC Sponsored ADR (*)		20,654		1,799,377
Israel \| 1.4%
Bank Leumi Le-Israel BM		170,457		1,829,865

Description	Shares		Fair Value
Italy \| 1.5%
Enel SpA		293,305	$	1,958,704
Japan \| 15.5%
Asics Corp.		63,800		1,230,447
Bandai Namco Holdings, Inc.		22,300		1,689,331
Daikin Industries, Ltd.		7,500		1,365,562
Daiwa House Industry Co., Ltd.		65,292		1,705,802
Disco Corp.		4,300		1,199,447
Hitachi, Ltd.		32,800		1,643,558
Makita Corp.		39,100		1,252,322
MatsukiyoCocokara & Co.		46,200		1,642,043
Nexon Co., Ltd.		63,767		1,525,900
Olympus Corp.		99,200		1,884,640
Shimano, Inc.		7,200		1,646,894
Suzuki Motor Corp.		43,700		1,497,960
Yamaha Corp.		30,900		1,347,488
				19,631,394
Mexico \| 1.0%
Arca Continental SAB de CV		189,200		1,286,541
Netherlands \| 5.8%
Akzo Nobel NV		20,771		1,784,564
Koninklijke DSM NV		8,659		1,547,531
Universal Music Group NV		81,729		2,169,709
Wolters Kluwer NV		18,030		1,919,284
				7,421,088
Norway \| 2.3%
Equinor ASA		39,605		1,486,104
Telenor ASA		97,122		1,395,905
				2,882,009
Portugal \| 1.4%
Galp Energia SGPS SA		137,232		1,736,657
Singapore \| 1.5%
DBS Group Holdings, Ltd.		72,860		1,915,514
South Africa \| 1.9%
Anglo American PLC		47,205		2,434,667
South Korea \| 1.8%
Osstem Implant Co., Ltd. (¢)		8,507		845,022
SK Hynix, Inc.		15,338		1,468,200
				2,313,222
Spain \| 1.0%
Industria de Diseno Textil SA		58,920		1,282,031
Sweden \| 1.2%
Sandvik AB		69,920		1,484,430
Switzerland \| 3.8%
ABB, Ltd.		78,284		2,532,765

Description	Shares		Fair Value
Lazard Retirement International Equity Portfolio (concluded)
Novartis AG		25,764	$	2,259,541
				4,792,306
United Kingdom \| 12.1%
3i Group PLC		96,831		1,751,569
Barclays PLC		772,539		1,500,741
Compass Group PLC		75,122		1,618,959
Petershill Partners PLC		221,913		723,875
Prudential PLC		82,478		1,218,346
RELX PLC		143,208		4,460,665
Smith & Nephew PLC		77,024		1,227,731
Tesco PLC		308,832		1,116,533
Unilever PLC		38,413		1,738,946
				15,357,365
United States \| 7.6%
Aon PLC, Class A		10,947		3,564,671
BRP, Inc.		12,655		1,036,168
Ferguson PLC		11,010		1,494,497
Medtronic PLC		32,387		3,593,338
				9,688,674
Total Common Stocks (Cost $110,913,234)				120,853,550
Preferred Stocks \| 1.3%
Germany \| 1.3%
Volkswagen AG (Cost $1,656,177)		9,215		1,593,424
Short-Term Investments \| 2.4%
State Street Institutional Treasury Money Market Fund, Premier Class, 0.17% (7 day yield) (Cost $3,092,941)		3,092,941		3,092,941
Total Investments l 98.8% (Cost $115,662,352)			$	125,539,915
Cash and Other Assets in Excess of Liabilities l 1.2%				1,534,523
Net Assets l 100.0%			$	127,074,438

Description	Shares		Fair Value
Lazard Retirement US Small-Mid Cap Equity Portfolio
Common Stocks \| 96.9%
Aerospace & Defense \| 2.4%
Curtiss-Wright Corp.		4,883	$	733,231
HEICO Corp.		2,531		388,610
				1,121,841
Airlines \| 1.4%
Alaska Air Group, Inc. (*)		11,497		666,941
Banks \| 8.6%
Commerce Bancshares, Inc.		11,420		817,558
East West Bancorp, Inc.		11,090		876,332
Home BancShares, Inc.		39,750		898,350
Pinnacle Financial Partners, Inc.		9,309		857,173
Wintrust Financial Corp.		6,950		645,863
				4,095,276
Biotechnology \| 1.5%
United Therapeutics Corp. (*)		4,031		723,202
Building Products \| 4.1%
Armstrong World Industries, Inc.		7,403		666,344
Carlisle Cos., Inc.		2,620		644,310
PGT Innovations, Inc. (*)		36,078		648,683
				1,959,337
Capital Markets \| 1.2%
Morningstar, Inc.		2,060		562,730
Chemicals \| 2.0%
Ashland Global Holdings, Inc.		5,336		525,116
Ingevity Corp. (*)		6,982		447,336
				972,452
Communications Equipment \| 2.3%
Ciena Corp. (*)		10,364		628,369
F5, Inc. (*)		2,327		486,227
				1,114,596
Construction & Engineering \| 0.7%
Valmont Industries, Inc.		1,323		315,668
Construction Materials \| 0.9%
Eagle Materials, Inc.		3,192		409,725
Containers & Packaging \| 2.4%
Avery Dennison Corp.		2,845		494,945
Graphic Packaging Holding Co.		33,447		670,278
				1,165,223
Electrical Equipment \| 4.5%
Array Technologies, Inc. (*)		36,101		406,858
Atkore, Inc. (*)		5,341		525,768
EnerSys		8,460		630,862

Description	Shares		Fair Value
GrafTech International, Ltd.		58,159	$	559,490
				2,122,978
Electronic Equipment, Instruments & Components \| 1.5%
Cognex Corp.		5,057		390,147
Littelfuse, Inc.		1,314		327,725
				717,872
Energy Equipment & Services \| 2.6%
Cactus, Inc., Class A		9,238		524,164
Liberty Oilfield Services, Inc., Class A (*)		46,815		693,798
				1,217,962
Entertainment \| 1.4%
Take-Two Interactive Software, Inc. (*)		4,398		676,149
Equity Real Estate Investment Trusts (REITs) \| 8.1%
Alexandria Real Estate Equities, Inc.		3,154		634,743
Brixmor Property Group, Inc.		26,032		671,886
Camden Property Trust		3,561		591,838
Hudson Pacific Properties, Inc.		21,979		609,917
PS Business Parks, Inc.		4,540		763,083
Summit Hotel Properties, Inc. (*)		58,943		587,072
				3,858,539
Food & Staples Retailing \| 1.5%
US Foods Holding Corp. (*)		19,032		716,174
Food Products \| 2.2%
Hostess Brands, Inc. (*)		21,658		475,176
Utz Brands, Inc.		37,387		552,580
				1,027,756
Gas Utilities \| 1.8%
New Jersey Resources Corp.		18,695		857,353
Health Care Equipment & Supplies \| 2.2%
Nevro Corp. (*)		4,678		338,360
Ortho Clinical Diagnostics Holdings PLC (*)		38,405		716,637
				1,054,997
Health Care Providers & Services \| 1.3%
Henry Schein, Inc. (*)		7,287		635,354
Health Care Technology \| 0.9%
Certara, Inc. (*)		19,343		415,488
Hotels, Restaurants & Leisure \| 2.3%
Brinker International, Inc. (*)		14,549		555,190
Wyndham Hotels & Resorts, Inc.		6,532		553,195
				1,108,385
Household Durables \| 1.1%
Leggett & Platt, Inc.		15,223		529,760
Insurance \| 3.2%
Brown & Brown, Inc.		12,068		872,154

Description	Shares		Fair Value
Lazard Retirement US Small-Mid Cap Equity Portfolio (concluded)
Reinsurance Group of America, Inc.		5,888	$	644,501
				1,516,655
Interactive Media & Services \| 3.0%
Cars.com, Inc. (*)		36,446		525,916
MediaAlpha, Inc., Class A (*)		17,561		290,634
Ziff Davis, Inc. (*)		6,206		600,617
				1,417,167
IT Services \| 3.1%
Amdocs, Ltd.		5,845		480,517
LiveRamp Holdings, Inc. (*)		11,497		429,873
Remitly Global, Inc.		24,003		236,910
Squarespace, Inc., Class A (*)		12,975		332,419
				1,479,719
Leisure Products \| 2.2%
Brunswick Corp.		4,528		366,270
Hasbro, Inc.		8,508		696,975
				1,063,245
Life Sciences Tools & Services \| 3.7%
AbCellera Biologics, Inc. (*)		34,941		340,675
ICON PLC (*)		2,620		637,236
Sotera Health Co. (*)		17,234		373,289
Stevanato Group SpA		21,476		432,097
				1,783,297
Machinery \| 3.4%
Altra Industrial Motion Corp.		11,727		456,532
Columbus McKinnon Corp.		13,846		587,070
Gates Industrial Corp. PLC (*)		37,307		561,844
				1,605,446
Multiline Retail \| 0.5%
Kohl's Corp.		3,977		240,449
Oil, Gas & Consumable Fuels \| 2.8%
Antero Resources Corp. (*)		26,153		798,451
Magnolia Oil & Gas Corp., Class A		23,590		557,904
				1,356,355
Paper & Forest Products \| 1.2%
Neenah, Inc.		14,174		562,141
Pharmaceuticals \| 1.3%
Catalent, Inc. (*)		5,800		643,220
Professional Services \| 2.5%
Leidos Holdings, Inc.		5,532		597,567
Sterling Check Corp.		22,382		591,556
				1,189,123

Description	Shares		Fair Value
Semiconductors & Semiconductor Equipment \| 1.8%
MKS Instruments, Inc.		5,587	$	838,050
Software \| 5.1%
CyberArk Software, Ltd. (*)		3,236		546,075
Dolby Laboratories, Inc., Class A		8,466		662,211
N-Able, Inc. (*)		43,300		394,030
Pegasystems, Inc.		4,463		359,941
PTC, Inc. (*)		4,296		462,765
				2,425,022
Specialty Retail \| 3.1%
Five Below, Inc. (*)		2,863		453,413
Leslie's, Inc. (*)		31,207		604,168
Warby Parker, Inc., Class A (*)		11,742		396,997
				1,454,578
Textiles, Apparel & Luxury Goods \| 1.1%
Tapestry, Inc.		14,306		531,468
Total Common Stocks (Cost $40,556,740)				46,151,693
Short-Term Investments \| 3.3%
State Street Institutional Treasury Money Market Fund, Premier Class, 0.17% (7 day yield) (Cost $1,548,549)		1,548,549		1,548,549
Total Investments l 100.2% (Cost $42,105,289)			$	47,700,242
Liabilities in Excess of Cash and Other Assets l (0.2)%				(81,002)
Net Assets l 100.0%			$	47,619,240

Description	Shares		Fair Value
Lazard Retirement Global Dynamic Multi-Asset Portfolio
Common Stocks \| 41.0%
Australia \| 0.9%
AGL Energy, Ltd.		41,162	$	237,260
BHP Group, Ltd.		11,621		452,638
Charter Hall Group REIT		11,060		134,284
Charter Hall Long Wale REIT		16,525		65,465
CSL, Ltd.		2,415		479,612
Dexus REIT		52,768		429,437
Healius, Ltd.		38,564		125,571
Northern Star Resources, Ltd.		8,904		70,568
Rio Tinto PLC		4,722		374,577
Rio Tinto, Ltd.		2,982		264,156
Sandfire Resources Ltd.		31,157		131,556
Shopping Centres Australasia Property Group REIT		28,873		62,593
WiseTech Global, Ltd.		2,993		112,756
				2,940,473
Belgium \| 0.1%
Proximus SADP		3,805		70,819
UCB SA		506		60,574
Warehouses De Pauw CVA REIT		2,300		99,110
				230,503
Canada \| 1.8%
Alimentation Couche-Tard, Inc.		2,443		110,059
Birchcliff Energy, Ltd.		25,880		173,065
CAE, Inc. (*)		11,456		298,772
Canadian National Railway Co.		3,916		525,292
Canadian Natural Resources, Ltd.		4,035		249,849
Empire Co., Ltd., Class A		4,799		170,210
Granite Real Estate Investment Trust		2,298		177,164
H&R Real Estate Investment Trust		15,024		156,832
Hydro One, Ltd.		5,698		153,508
Loblaw Cos., Ltd.		9,301		834,609
Metro, Inc.		6,307		363,038
NuVista Energy, Ltd. (*)		22,956		194,093
Quebecor, Inc., Class B		2,758		65,743
Shopify, Inc., Class A (*)		110		74,392
Suncor Energy, Inc.		18,937		616,515
The Toronto-Dominion Bank		6,916		549,269
Thomson Reuters Corp.		3,015		327,341
Tourmaline Oil Corp.		14,112		650,203
				5,689,954
China \| 0.3%
NXP Semiconductors NV		2,556		473,064
SITC International Holdings Co., Ltd.		91,000		321,230

Description	Shares		Fair Value
Yangzijiang Shipbuilding Holdings, Ltd. (*)		101,100	$	113,730
				908,024
Denmark \| 0.3%
AP Moller-Maersk A/S, Class B		36		108,509
Carlsberg A/S, Class B Sponsored ADR		14,099		343,452
Novo Nordisk A/S, Class B		4,680		518,294
				970,255
France \| 1.1%
Arkema SA		1,100		131,233
BNP Paribas SA		11,119		633,085
Bureau Veritas SA ADR (*)		5,273		300,403
Cie de Saint-Gobain		5,718		340,278
Cie Generale des Etablissements Michelin SCA		461		62,278
Electricite de France SA		17,340		163,366
Hermes International		41		58,154
Legrand SA ADR		15,309		290,259
LVMH Moet Hennessy Louis Vuitton SE ADR		2,647		377,409
Orange SA		14,275		168,798
Pernod Ricard SA Sponsored ADR		8,320		364,499
Societe Generale SA		9,525		254,810
Thales SA Sponsored ADR		14,647		367,493
				3,512,065
Germany \| 0.7%
Allianz SE		1,336		319,029
Covestro AG		3,738		188,874
Mercedes-Benz Group AG		1,257		88,288
Daimler Truck Holding AG (*)		2,975		82,649
Deutsche Bank AG (*)		10,690		136,502
Deutsche Post AG		16,255		780,541
Merck KGaA Sponsored ADR		9,146		382,394
Nemetschek SE		1,158		112,333
				2,090,610
Hong Kong \| 0.2%
AIA Group, Ltd. Sponsored ADR		8,252		345,263
Orient Overseas International, Ltd.		6,000		159,462
Swire Pacific, Ltd., Class A		17,500		106,789
				611,514
Israel \| 0.2%
Bezeq The Israeli Telecommunication Corp., Ltd. (*)		108,488		185,811
Perion Network, Ltd. (*)		6,627		149,041
ZIM Integrated Shipping Services, Ltd.		2,669		194,063
				528,915
Italy \| 0.1%
A2A SpA		65,419		112,095

Description	Shares		Fair Value
Lazard Retirement Global Dynamic Multi-Asset Portfolio (continued)
Enel SpA		16,679	$	111,383
				223,478
Japan \| 2.8%
AGC, Inc.		1,900		75,937
Ajinomoto Co., Inc.		1,100		31,237
Chubu Electric Power Co., Inc.		6,700		69,416
Cosmo Energy Holdings Co., Ltd.		6,600		142,436
Dai-ichi Life Holdings, Inc.		20,700		421,121
Daiwa House Industry Co., Ltd.		12,400		323,959
Electric Power Development Co., Ltd.		42,900		614,526
ENEOS Holdings, Inc.		85,800		322,481
FUJIFILM Holdings Corp.		1,400		85,647
H.U. Group Holdings, Inc.		5,400		128,292
Japan Post Bank Co., Ltd.		66,300		533,979
Japan Post Holdings Co., Ltd.		157,500		1,156,904
Japan Post Insurance Co., Ltd.		9,200		160,934
Japan Real Estate Investment Corp. REIT		19		99,560
KDDI Corp.		6,000		197,078
Kyushu Electric Power Co., Inc.		12,200		81,827
Lawson, Inc.		1,500		57,329
McDonald's Holdings Co. Japan, Ltd.		5,800		241,577
Mitsubishi Electric Corp.		30,400		349,898
Mitsubishi UFJ Financial Group, Inc.		27,200		168,835
Mitsui & Co., Ltd.		4,800		130,751
Mitsui Chemicals, Inc.		7,500		188,930
NGK Spark Plug Co., Ltd.		7,200		115,869
Nihon Kohden Corp.		2,100		50,471
Nintendo Co., Ltd.		100		50,456
Nintendo Co., Ltd. ADR		6,412		403,379
Nippon Express Holdings, Inc.		1,400		96,233
Nippon Telegraph & Telephone Corp.		3,900		113,322
Nisshinbo Holdings, Inc.		24,200		209,913
Olympus Corp. Sponsored ADR (*)		17,571		337,012
Osaka Gas Co., Ltd.		14,200		243,786
Panasonic Corp.		16,800		162,693
Rengo Co., Ltd.		8,800		56,262
Shimano, Inc. ADR		14,804		338,567
Sumitomo Chemical Co., Ltd.		53,200		243,873
Sumitomo Mitsui Financial Group, Inc.		3,300		105,317
The Hachijuni Bank, Ltd.		17,500		58,074
Tohoku Electric Power Co., Inc.		7,600		44,467
Tokyo Gas Co., Ltd.		18,200		333,394
Toyota Motor Corp.		7,500		134,351
Yamazaki Baking Co., Ltd.		5,600		68,852
				8,748,945

Description	Shares		Fair Value
Malta \| 0.0%
Kindred Group PLC		8,489	$	92,631
Netherlands \| 0.8%
Adyen NV (*)		50		98,779
ASML Holding NV		267		178,089
Eurocommercial Properties NV REIT		7,155		195,674
EXOR NV		2,120		161,697
Shell PLC		29,017		796,335
Wolters Kluwer NV		2,030		216,092
Wolters Kluwer NV Sponsored ADR		7,818		832,930
				2,479,596
New Zealand \| 0.1%
Fisher & Paykel Healthcare Corp., Ltd.		2,748		46,176
Mainfreight, Ltd.		890		51,455
Spark New Zealand, Ltd.		19,274		61,066
				158,697
Norway \| 0.1%
Orkla ASA		15,148		134,716
Telenor ASA		3,395		48,796
				183,512
Portugal \| 0.0%
Jeronimo Martins SGPS SA (*)		3,669		87,897
South Africa \| 0.0%
Anglo American PLC		1,309		67,514
Spain \| 0.2%
Banco Santander SA		34,184		115,985
Corporacion Financiera Alba SA		350		20,428
Iberdrola SA (*)		25,998		282,972
Industria de Diseno Textil SA ADR		19,107		208,266
				627,651
Sweden \| 0.6%
Assa Abloy AB ADR		22,243		298,946
Epiroc AB ADR		31,214		665,482
Hexagon AB ADR		40,300		563,797
Lundin Energy AB		6,813		288,834
Telefonaktiebolaget LM Ericsson, B Shares		11,094		101,510
				1,918,569
Switzerland \| 1.0%
ABB, Ltd. Sponsored ADR		15,058		486,976
PSP Swiss Property AG		974		127,827
Roche Holding AG		4,037		1,596,534
Swatch Group AG ADR		30,775		434,543
Swisscom AG		423		253,964
Tecan Group AG		115		45,323

Description	Shares		Fair Value
Lazard Retirement Global Dynamic Multi-Asset Portfolio (continued)
UBS Group AG		6,401	$	125,056
				3,070,223
United Kingdom \| 1.4%
Barclays PLC		143,319		278,413
BP PLC		36,762		179,657
Coca-Cola Europacific Partners PLC		7,157		347,902
Diageo PLC Sponsored ADR		4,729		960,649
Howden Joinery Group PLC		5,298		53,139
HSBC Holdings PLC		11,792		80,799
J Sainsbury PLC		32,468		107,511
National Grid PLC		7,733		118,776
Natwest Group PLC		100,327		282,302
RELX PLC Sponsored ADR		22,245		691,819
SSE PLC		3,842		87,972
Standard Chartered PLC		69,370		460,016
Unilever PLC Sponsored ADR		12,189		555,453
Virgin Money UK PLC		58,430		132,451
Vodafone Group PLC		141,945		232,884
				4,569,743
United States \| 28.3%
Accenture PLC, Class A		3,945		1,330,372
Activision Blizzard, Inc.		1,188		95,171
Adobe, Inc. (*)		399		181,792
Adtalem Global Education, Inc. (*)		3,304		98,162
Advanced Micro Devices, Inc. (*)		2,593		283,519
AGCO Corp.		775		113,173
Agilent Technologies, Inc.		1,273		168,456
Akamai Technologies, Inc. (*)		1,058		126,315
Alleghany Corp. (*)		85		71,995
Allison Transmission Holdings, Inc.		1,396		54,807
Alphabet, Inc., Class A (*)		519		1,443,521
Alphabet, Inc., Class C (*)		822		2,295,838
Amazon.com, Inc. (*)		604		1,969,010
Amdocs, Ltd.		1,400		115,094
AMERCO		359		214,301
American Electric Power Co., Inc.		1,378		137,483
American Express Co.		1,679		313,973
American International Group, Inc.		4,223		265,078
AmerisourceBergen Corp.		601		92,981
Amgen, Inc.		802		193,940
AMN Healthcare Services, Inc. (*)		918		95,775
Amphenol Corp., Class A		7,328		552,165
Anthem, Inc.		1,149		564,412
Aon PLC, Class A		2,900		944,327
APA Corp.		3,105		128,330
Apple, Inc.		33,101		5,779,766

Description	Shares		Fair Value
Applied Materials, Inc.		2,520	$	332,136
Assurant, Inc.		448		81,460
Automatic Data Processing, Inc.		952		216,618
AutoZone, Inc. (*)		245		500,922
Avery Dennison Corp.		1,562		271,741
Bank of America Corp.		13,233		545,464
Baxter International, Inc.		2,206		171,053
Becton, Dickinson & Co.		676		179,816
Berkshire Hathaway, Inc., Class B (*)		467		164,809
BJ's Wholesale Club Holdings, Inc. (*)		3,303		223,316
Booz Allen Hamilton Holding Corp.		6,243		548,385
Boston Scientific Corp. (*)		10,239		453,485
Bristol-Myers Squibb Co.		6,640		484,919
Broadcom, Inc.		1,064		669,980
BRP, Inc.		4,871		398,399
Brunswick Corp.		1,408		113,893
Cadence Design Systems, Inc. (*)		2,994		492,393
Cboe Global Markets, Inc.		418		47,828
Cerner Corp.		815		76,251
CF Industries Holdings, Inc.		1,786		184,065
Charter Communications, Inc., Class A (*)		388		211,662
Chubb, Ltd.		392		83,849
Cigna Corp.		881		211,096
Cisco Systems, Inc.		5,588		311,587
Citigroup, Inc.		5,237		279,656
Citizens Financial Group, Inc.		5,081		230,322
CMS Energy Corp.		947		66,233
Cognizant Technology Solutions Corp., Class A		9,643		864,688
Colgate-Palmolive Co.		4,628		350,941
Comcast Corp., Class A		10,470		490,205
Corteva, Inc.		1,133		65,125
CorVel Corp. (*)		450		75,798
Costco Wholesale Corp.		783		450,891
Coterra Energy, Inc.		6,361		171,556
Crowdstrike Holdings, Inc., Class A (*)		540		122,623
CSG Systems International, Inc.		1,141		72,533
Cushman & Wakefield PLC (*)		7,563		155,117
CVS Health Corp.		5,640		570,824
D.R. Horton, Inc.		766		57,075
Danaher Corp.		457		134,052
Darden Restaurants, Inc.		939		124,840
Darling Ingredients, Inc. (*)		1,399		112,452
DaVita, Inc. (*)		1,024		115,825
Deere & Co.		1,122		466,146
Diamondback Energy, Inc.		1,118		153,255
Dick's Sporting Goods, Inc.		942		94,219

Description	Shares		Fair Value
Lazard Retirement Global Dynamic Multi-Asset Portfolio (continued)
Digital Realty Trust, Inc. REIT		757	$	107,343
DocuSign, Inc. (*)		673		72,092
Dolby Laboratories, Inc., Class A		699		54,676
Dollar General Corp.		3,520		783,658
Dow, Inc.		2,335		148,786
Duke Energy Corp.		538		60,073
Electronic Arts, Inc.		424		53,640
Eli Lilly & Co.		3,831		1,097,083
EPAM Systems, Inc. (*)		430		127,542
Equitable Holdings, Inc.		3,080		95,203
Everest Re Group, Ltd.		227		68,413
Evergy, Inc.		2,714		185,475
Exlservice Holdings, Inc. (*)		627		89,830
Expedia Group, Inc. (*)		1,473		288,222
Extra Space Storage, Inc. REIT		696		143,098
FactSet Research Systems, Inc.		685		297,393
FedEx Corp.		500		115,695
Fidelity National Financial, Inc.		2,731		133,382
First Citizens BancShares, Inc. Class A		149		99,174
Flagstar Bancorp, Inc.		2,704		114,650
Flowers Foods, Inc.		8,325		214,036
FNB Corp.		11,641		144,930
Fortinet, Inc. (*)		862		294,580
FOX Corp., Class B		8,105		294,049
FOX Corp., Class A		5,083		200,524
General Mills, Inc.		1,203		81,467
Gilead Sciences, Inc.		1,837		109,210
GlaxoSmithKline PLC		47,879		1,032,460
Goldman Sachs Group, Inc. NA		304		100,350
Grand Canyon Education, Inc. (*)		754		73,221
HCA Healthcare, Inc.		2,412		604,495
Henry Schein, Inc. (*)		713		62,166
Home Depot, Inc.		2,844		851,295
Honeywell International, Inc.		2,003		389,744
Hormel Foods Corp.		1,172		60,405
Houlihan Lokey, Inc.		588		51,626
ICU Medical, Inc. N Ap (*)		403		89,724
Incyte Corp. (*)		879		69,810
Ingles Markets, Inc. Class A		879		78,275
Intel Corp.		11,474		568,651
Inter Parfums, Inc.		601		52,918
Intercontinental Exchange, Inc.		7,669		1,013,228
International Game Technology PLC		4,278		105,581
IQVIA Holdings, Inc. (*)		3,945		912,123
Jack Henry & Associates, Inc.		710		139,905
JB Hunt Transport Services, Inc.		1,707		342,749

Description	Shares		Fair Value
Johnson & Johnson		8,716	$	1,544,737
JPMorgan Chase & Co.		1,055		143,818
Kellogg Co.		3,199		206,304
Keysight Technologies, Inc. (*)		2,294		362,383
Kforce, Inc.		817		60,433
KLA Corp.		308		112,746
Laboratory Corp. of America Holdings (*)		1,543		406,827
Life Storage, Inc. REIT		1,786		250,808
Lockheed Martin Corp.		3,053		1,347,594
Lowe's Cos., Inc.		3,751		758,415
Magnolia Oil & Gas Corp., Class A		6,597		156,019
Markel Corp. (*)		49		72,287
Matson, Inc.		842		101,562
MaxLinear, Inc. (*)		2,011		117,342
McDonald's Corp.		3,863		955,243
Medtronic PLC		1,650		183,067
Merck & Co., Inc.		5,322		436,670
Meta Platforms, Inc., Class A (*)		1,085		241,261
MetLife, Inc.		5,473		384,642
Mettler-Toledo International, Inc. (*)		143		196,366
Micron Technology, Inc.		1,348		104,996
Microsoft Corp.		16,881		5,204,581
Molina Healthcare, Inc. (*)		359		119,759
Monolithic Power Systems, Inc.		550		267,124
Moody's Corp.		656		221,341
Motorola Solutions, Inc.		4,374		1,059,383
National Fuel Gas Co.		910		62,517
Netflix, Inc. (*)		821		307,538
News Corp. Class A		12,733		282,036
NIKE, Inc., Class B		3,605		485,089
Northrop Grumman Corp.		192		85,866
NRG Energy, Inc.		5,417		207,796
Nucor Corp.		1,675		248,989
NVIDIA Corp.		4,756		1,297,722
NVR, Inc. (*)		11		49,140
O'Reilly Automotive, Inc. (*)		535		366,454
Old Dominion Freight Line, Inc.		1,676		500,588
Omnicom Group, Inc.		1,321		112,126
Otter Tail Corp.		1,247		77,938
Ovintiv, Inc.		4,207		227,472
Owens Corning		1,322		120,963
Paychex, Inc.		4,644		633,767
Paycom Software, Inc. (*)		282		97,679
PepsiCo, Inc.		1,564		261,782
Pfizer, Inc.		13,740		711,320
Philip Morris International, Inc.		4,348		408,451

Description	Shares		Fair Value
Lazard Retirement Global Dynamic Multi-Asset Portfolio (continued)
Piedmont Office Realty Trust, Inc. REIT Class A		7,286	$	125,465
Pinnacle West Capital Corp.		1,718		134,176
PNM Resources, Inc.		1,256		59,874
Portland General Electric Co.		1,964		108,315
Power Integrations, Inc.		652		60,427
PPL Corp. N Ap		3,881		110,841
Premier, Inc., Class A		1,725		61,393
PTC, Inc. (*)		3,882		418,169
Public Storage REIT		558		217,776
QUALCOMM, Inc.		5,774		882,383
Quidel Corp. (*)		519		58,367
Regeneron Pharmaceuticals, Inc. (*)		97		67,747
Regions Financial Corp.		6,933		154,329
Republic Services, Inc.		6,781		898,482
ResMed, Inc.		408		98,944
Rockwell Automation, Inc.		1,575		441,047
Roku, Inc. (*)		308		38,583
S&P Global, Inc.		2,207		905,267
SBA Communications Corp. REIT		414		142,457
Service Corp. International		1,892		124,531
ServiceNow, Inc. (*)		467		260,068
Sirius XM Holdings, Inc.		9,638		63,804
SLM Corp.		3,200		58,752
Southwest Gas Holdings, Inc.		1,363		106,709
Starbucks Corp.		589		53,581
State Street Corp.		4,178		363,987
Steel Dynamics, Inc.		1,987		165,775
Stellantis NV		14,985		243,004
Sturm Ruger & Co., Inc.		1,098		76,443
Synopsys, Inc. (*)		4,451		1,483,385
Target Corp.		3,626		769,510
Tecnoglass, Inc.		5,358		135,236
Teradyne, Inc.		1,050		124,142
Tesla, Inc. (*)		1,415		1,524,804
Tetra Tech, Inc.		356		58,719
Texas Instruments, Inc.		3,745		687,133
Texas Pacific Land Corp.		75		101,408
The Bank of New York Mellon Corp.		6,872		341,057
The Charles Schwab Corp.		6,786		572,128
The Coca-Cola Co.		16,289		1,009,918
The Hartford Financial Services Group, Inc.		1,057		75,903
The Hershey Co.		2,312		500,849
The Interpublic Group of Cos., Inc.		5,125		181,681
The Kroger Co.		1,045		59,952
The Mosaic Co.		4,338		288,477

Description	Shares		Fair Value
The Procter & Gamble Co.		7,479	$	1,142,791
The Progressive Corp.		552		62,922
The TJX Cos., Inc.		880		53,310
The Toro Co.		588		50,268
The Travelers Cos., Inc.		319		58,291
Thermo Fisher Scientific, Inc.		1,681		992,883
TopBuild Corp. (*)		1,066		193,362
Tractor Supply Co.		805		187,863
Tyson Foods, Inc., Class A		4,873		436,767
UMH Properties, Inc. REIT		4,491		110,434
United Parcel Service, Inc., Class B		1,679		360,078
UnitedHealth Group, Inc.		2,490		1,269,825
Verizon Communications, Inc.		34,528		1,758,856
Vertex Pharmaceuticals, Inc. (*)		666		173,806
Virtu Financial, Inc., Class A		3,485		129,712
Visa, Inc., Class A		3,646		808,573
VMware, Inc., Class A		1,893		215,556
Walmart, Inc.		2,229		331,943
Warner Music Group Corp., Class A		6,127		231,907
Washington Federal, Inc.		7,510		246,478
WD-40 Co.		227		41,593
Wells Fargo & Co.		7,316		354,533
WW Grainger, Inc.		1,281		660,727
Zoetis, Inc.		4,513		851,107
				88,601,733
Total Common Stocks (Cost $97,430,511)				128,312,502

Description	Security Currency	Principal Amount (000)		Fair Value
Corporate Bonds \| 20.0%
Australia \| 0.1%
Telstra Corp., Ltd. MTN, 4.000%, 04/19/27	AUD		300	$	226,814
Canada \| 0.7%
Canadian Imperial Bank of Commerce, 0.950%, 10/23/25	USD		2,295		2,111,271
Germany \| 0.6%
Mercedes-Benz Group AG MTN, 0.750%, 09/10/30	EUR		1,710		1,773,321
Netherlands \| 0.7%
ING Groep NV MTN, 1.125% (SONIA + 0.905%), 12/07/28 (§)	GBP		1,900		2,235,454
Switzerland \| 0.2%
ABB Finance USA, Inc., 4.375%, 05/08/42	USD		765		814,994

Description	Security Currency	Principal Amount (000)		Fair Value
Lazard Retirement Global Dynamic Multi-Asset Portfolio (continued)
United Kingdom \| 1.5%
Ashtead Capital, Inc., 4.250%, 11/01/29	USD	$	1,795	$	1,786,181
Tesco Corporate Treasury Services PLC, 2.750%, 04/27/30	GBP		1,940		2,463,249
Unilever Capital Corp., 1.375%, 09/14/30	USD		675		583,142
					4,832,572
United States \| 16.2%
Adobe, Inc., 2.300%, 02/01/30	USD		1,930		1,826,026
Alphabet, Inc., 1.100%, 08/15/30	USD		2,045		1,787,136
Amazon.com, Inc., 3.150%, 08/22/27	USD		1,465		1,483,789
American Express Co., 3.300%, 05/03/27	USD		1,293		1,299,177
Amgen, Inc., 3.000%, 02/22/29	USD		1,770		1,737,555
Apple, Inc., 3.000%, 06/20/27	USD		1,805		1,825,787
Ball Corp., 4.875%, 03/15/26	USD		1,115		1,154,627
Bank of America Corp.:
1.486% (SOFR + 1.460%), 05/19/24 (§)	USD		995		980,470
1.978% (CDOR 3 Month + 0.600%), 09/15/27 (§)	CAD		2,750		2,022,635
Citigroup, Inc., 1.281% (SOFR + 0.528%), 11/03/25 (§)	USD		1,880		1,789,023
Clean Harbors, Inc., 4.875%, 07/15/27	USD		1,020		1,017,450
DaVita, Inc., 4.625%, 06/01/30	USD		910		849,758
Dell International LLC, 5.300%, 10/01/29	USD		1,542		1,679,623
John Deere Financial, Inc., 2.410%, 01/14/25	CAD		2,815		2,199,760
Johnson Controls International PLC, 1.750%, 09/15/30	USD		1,890		1,687,344
JPMorgan Chase & Co., 3.540% (USD LIBOR 3 Month + 1.380%), 05/01/28 (§)	USD		2,290		2,295,992
Kimberly-Clark Corp., 3.200%, 04/25/29	USD		1,723		1,743,095
McDonald's Corp.:
3.125%, 03/04/25	CAD		1,135		903,751
3.125%, 03/04/25	CAD		915		728,575
Microsoft Corp., 3.500%, 11/15/42	USD		800		818,468

Description	Security Currency	Principal Amount (000)		Fair Value
Morgan Stanley, 3.625%, 01/20/27	USD	$	1,970	$	1,986,935
Mueller Water Products, Inc., 4.000%, 06/15/29 (#)	USD		1,030		975,647
PepsiCo, Inc., 2.875%, 10/15/49	USD		940		870,785
Pfizer, Inc., 2.625%, 04/01/30	USD		1,885		1,830,090
Prologis LP REIT, 1.250%, 10/15/30	USD		2,975		2,532,937
Schneider Electric SE, 2.950%, 09/27/22	USD		883		889,451
Service Corp. International, 4.625%, 12/15/27	USD		1,115		1,124,756
Starbucks Corp., 4.450%, 08/15/49	USD		710		758,808
The Goldman Sachs Group, Inc., 1.992% (SOFR + 1.090%), 01/27/32 (§)	USD		2,300		1,992,444
The Home Depot, Inc., 5.875%, 12/16/36	USD		810		1,025,962
The Procter & Gamble Co., 1.200%, 10/29/30	USD		1,020		888,331
Toyota Motor Credit Corp., 2.150%, 02/13/30	USD		1,875		1,739,009
United Rentals North America, Inc., 4.875%, 01/15/28	USD		1,155		1,173,243
Verizon Communications, Inc., 3.875%, 02/08/29	USD		2,244		2,334,523
Visa, Inc., 0.750%, 08/15/27	USD		765		692,896
					50,645,858
Total Corporate Bonds (Cost $66,128,453)					62,640,284
Foreign Government Obligations \| 22.6%
Australia \| 1.1%
New South Wales Treasury Corp., 1.250%, 11/20/30	AUD		2,670		1,714,913
Queensland Treasury Corp., 1.250%, 03/10/31	AUD		2,685		1,718,534
					3,433,447
Bahamas \| 0.5%
Bahamas Government International Bonds, 6.950%, 11/20/29	USD		1,815		1,480,132
Bermuda \| 1.2%
Government of Bermuda:
3.717%, 01/25/27	USD		1,760		1,781,230
2.375%, 08/20/30 (#)	USD		2,190		2,004,945
					3,786,175

Description	Security Currency	Principal Amount (000)		Fair Value
Lazard Retirement Global Dynamic Multi-Asset Portfolio (continued)
Canada \| 3.2%
City of Vancouver, 2.900%, 11/20/25	CAD		1,920	$	1,541,744
Export Development Canada, 1.650%, 07/31/24	CAD		2,600		2,040,028
Province of British Columbia Canada, 3.200%, 06/18/44	CAD		2,095		1,650,427
Province of Quebec:
2.500%, 04/20/26	USD		1,310		1,297,047
1.850%, 02/13/27	CAD		4,360		3,341,382
					9,870,628
Chile \| 1.5%
Bonos de la Tesoreria de la Republica en pesos:
5.800%, 06/01/24	CLP		1,295,000		1,615,307
2.300%, 10/01/28	CLP		1,665,000		1,669,624
Republic of Chile, 0.830%, 07/02/31	EUR		1,445		1,462,656
					4,747,587
Colombia \| 0.5%
Republic of Colombia, 9.850%, 06/28/27	COP		5,847,000		1,590,188
Costa Rica \| 0.4%
Costa Rica Government International Bond, 6.125%, 02/19/31	USD		1,250		1,264,688
Czech Republic \| 0.9%
Czech Republic, 1.000%, 06/26/26	CZK		69,800		2,762,873
Hungary \| 0.8%
Hungary Government Bonds, 2.750%, 12/22/26	HUF		612,560		1,571,046
Hungary Government International Bond, 1.750%, 06/05/35	EUR		836		863,729
					2,434,775
Italy \| 0.8%
Italy Buoni Poliennali Del Tesoro, 1.450%, 03/01/36	EUR		2,335		2,370,298
Japan \| 0.3%
Japan International Cooperation Agency, 1.750%, 04/28/31	USD		1,030		944,116
Mexico \| 1.1%
Mexican Bonos:
8.000%, 09/05/24	MXN		33,200		1,654,834
7.500%, 06/03/27	MXN		33,050		1,600,108
United Mexican States, 6.750%, 02/06/24	GBP		165		230,543
					3,485,485

Description	Security Currency	Principal Amount (000)		Fair Value
Morocco \| 0.5%
Morocco Government International Bond, 1.500%, 11/27/31	EUR		1,765	$	1,602,052
Netherlands \| 0.2%
Nederlandse Waterschapsbank NV, 0.500%, 12/02/25 (#)	USD		840		776,240
New Zealand \| 3.5%
Housing New Zealand, Ltd. MTN, 3.420%, 10/18/28	NZD		2,540		1,715,521
New Zealand Local Government Funding Agency Bonds:
2.250%, 04/15/24	NZD		6,355		4,306,100
1.500%, 04/20/29	NZD		5,715		3,393,437
2.000%, 04/15/37	NZD		3,170		1,679,510
					11,094,568
Norway \| 0.5%
Oslo Kommune:
2.300%, 03/14/24	NOK		3,000		338,249
2.350%, 09/04/24	NOK		11,000		1,235,284
					1,573,533
Panama \| 0.9%
Republic of Panama:
8.875%, 09/30/27	USD		1,300		1,658,150
3.875%, 03/17/28	USD		1,085		1,109,616
					2,767,766
Peru \| 0.8%
Peru Government Bonds:
6.150%, 08/12/32	PEN		6,695		1,753,589
3.000%, 01/15/34	USD		940		880,780
					2,634,369
Poland \| 0.5%
Poland Government Bonds, 2.020% (WIBOR 6 Month), 05/25/28 (§)	PLN		7,075		1,613,628
Singapore \| 0.6%
Singapore Government Bond, 3.375%, 09/01/33	SGD		2,150		1,733,039
Spain \| 0.7%
Spain Government Bond, 1.000%, 07/30/42	EUR		2,400		2,295,651
Thailand \| 0.6%
Thailand Government Bonds, 1.585%, 12/17/35	THB		67,125		1,715,442
United Kingdom \| 1.5%
United Kingdom Gilt:
0.875%, 07/31/33	GBP		1,385		1,668,394
1.750%, 09/07/37	GBP		1,410		1,834,835

Description	Security Currency	Principal Amount (000)		Fair Value
Lazard Retirement Global Dynamic Multi-Asset Portfolio (continued)
1.500%, 07/22/47	GBP		905	$	1,115,437
					4,618,666
Total Foreign Government Obligations (Cost $75,661,116)					70,595,346
Quasi Government Bonds \| 0.8%
Germany \| 0.8%
Kreditanstalt fuer Wiederaufbau, 1.750%, 09/14/29 (Cost $2,583,426)	USD		2,560		2,432,418
Supranational Bonds \| 5.5%
Asian Development Bank, 2.125%, 03/19/25	USD		1,511		1,495,569
European Investment Bank, 1.000%, 01/28/28	CAD		2,785		2,007,048
Inter-American Development Bank, 7.875%, 03/14/23	IDR		44,610,000		3,212,852
International Bank for Reconstruction & Development:
1.900%, 01/16/25	CAD		3,430		2,690,471
2.900%, 11/26/25	AUD		2,098		1,563,273
1.250%, 03/16/26	NOK		15,660		1,681,540
1.125%, 09/13/28	USD		988		905,326
International Finance Corp.:
2.125%, 04/07/26	USD		1,710		1,683,896
1.500%, 04/15/35	AUD		3,131		1,826,353
Total Supranational Bonds (Cost $17,608,288)					17,066,328
US Municipal Bonds \| 0.9%
California \| 0.8%
State of California:
4.500%, 04/01/33	USD		900		977,362
7.550%, 04/01/39	USD		1,000		1,482,847
					2,460,209
New York \| 0.1%
New York State Urban Development Corp., Series B, 3.900%, 03/15/33	USD		420		432,411
Total US Municipal Bonds (Cost $3,024,514)					2,892,620
Description		Principal Amount (000)		Fair Value
US Treasury Securities \| 1.6%
U.S. Treasury Bond, 1.750%, 08/15/41 (Cost $5,315,533)	USD		5,755	$	4,987,966


Description	Shares		Fair Value
Exchange-Traded Funds \| 5.2%
iShares MSCI World ETF (Cost $10,691,523)		127,722	$	16,368,852
Short-Term Investments \| 4.2%
State Street Institutional Treasury Money Market Fund, Premier Class, 0.17% (7 day yield) (Cost $13,021,070)		13,021,070		13,021,070
Total Investments l 101.8% (Cost $291,464,434) (»)			$	318,317,386
Liabilities in Excess of Cash and Other Assets l (1.8)%				(5,606,773)
Net Assets l 100.0%			$	312,710,613

Lazard Retirement Global Dynamic Multi-Asset Portfolio (continued)

Forward Currency Contracts open at March 31, 2022:

Currency Purchased	Quantity	Currency Sold	Quantity	Counterparty	Settlement Date		Unrealized Appreciation		Unrealized Depreciation
AUD	276,593	USD	198,000	HSB	04/13/22	$	8,995	$	—
AUD	483,435	USD	348,200	HSB	04/13/22		13,589		—
AUD	666,354	USD	475,800	HSB	04/13/22		22,881		—
AUD	969,597	USD	689,900	HSB	04/13/22		35,720		—
AUD	56,113	USD	41,832	HSB	06/29/22		221		—
AUD	171,575	USD	124,900	JPM	04/13/22		3,502		—
CAD	558,036	USD	442,000	CIT	04/13/22		4,357		—
CAD	920,514	USD	726,300	HSB	04/13/22		9,992		—
CAD	129,271	USD	101,300	JPM	04/13/22		2,100		—
CAD	311,144	USD	241,600	JPM	04/13/22		7,275		—
CAD	687,259	USD	541,700	JPM	04/13/22		8,018		—
CHF	195,790	USD	212,800	HSB	04/13/22		—		857
CHF	252,652	USD	275,500	HSB	04/13/22		—		2,003
CHF	300,187	USD	329,267	HSB	04/13/22		—		4,314
CHF	92,587	USD	99,900	JPM	04/13/22		325		—
CHF	743,685	USD	815,680	JPM	04/13/22		—		10,638
CHF	105,714	USD	115,950	MSC	04/13/22		—		1,514
CHF	152,972	USD	167,000	MSC	04/13/22		—		1,407
CLP	230,451,000	USD	296,400	CIT	04/13/22		—		3,944
CNH	8,054,925	USD	1,266,000	HSB	04/13/22		945		—
CNH	10,451,374	USD	1,644,400	HSB	04/13/22		—		521
CNH	13,272,437	USD	2,078,800	HSB	04/13/22		8,799		—
CNH	23,851,051	USD	3,733,453	HSB	04/13/22		18,038		—
CNH	1,490,976	USD	231,900	HSB	06/02/22		1,903		—
CNH	32,465,012	USD	5,022,170	HSB	06/02/22		68,744		—
CNH	4,596,344	USD	724,900	JPM	04/13/22		—		1,949
CZK	1,330,706	USD	61,000	HSB	04/13/22		—		756
CZK	1,601,305	USD	73,650	HSB	04/13/22		—		1,156
CZK	1,663,094	USD	77,300	HSB	04/13/22		—		2,008
CZK	2,155,258	USD	100,100	HSB	04/13/22		—		2,527
CZK	29,457,299	USD	1,284,264	HSB	04/13/22		49,330		—
CZK	579,825	USD	24,900	JPM	04/13/22		1,350		—
CZK	10,162,907	USD	464,200	JPM	04/13/22		—		4,104
EUR	2,842,766	USD	3,220,000	CIT	04/13/22		—		74,404
EUR	3,927,975	USD	4,457,341	CIT	04/13/22		—		110,933
EUR	479,731	USD	542,863	HSB	04/13/22		—		12,029
EUR	3,616,011	USD	4,120,900	HSB	04/13/22		—		119,688
EUR	4,666,834	USD	5,284,700	HSB	04/13/22		—		120,724
EUR	10,508,347	USD	11,924,347	HSB	04/13/22		—		296,582
EUR	1,119,803	USD	1,240,295	HSB	06/29/22		2,707		—
EUR	1,173,047	USD	1,309,700	JPM	04/13/22		—		11,692
EUR	1,388,950	USD	1,516,600	JPM	04/13/22		20,310		—
GBP	904,397	USD	1,227,200	HSB	04/13/22		—		39,228
GBP	305,236	USD	399,900	JPM	04/13/22		1,043		—
GBP	564,922	USD	763,000	JPM	04/13/22		—		20,946
GBP	683,411	USD	928,600	JPM	04/13/22		—		30,905

Lazard Retirement Global Dynamic Multi-Asset Portfolio (continued)

Currency Purchased	Quantity	Currency Sold	Quantity	Counterparty	Settlement Date		Unrealized Appreciation		Unrealized Depreciation
HUF	14,370,048	USD	45,000	JPM	04/13/22	$	—	$	1,781
HUF	23,654,938	USD	75,100	JPM	04/13/22		—		3,956
HUF	121,053,087	USD	388,090	JPM	04/13/22		—		24,013
HUF	199,224,386	USD	600,200	JPM	04/13/22		—		1,017
HUF	544,617,042	USD	1,663,613	JPM	04/13/22		—		25,634
IDR	1,720,383,000	USD	119,000	JPM	04/28/22		668		—
INR	7,312,454	USD	96,700	JPM	04/28/22		—		433
INR	21,354,228	USD	282,800	JPM	04/28/22		—		1,676
INR	34,655,135	USD	460,319	JPM	04/28/22		—		4,092
JPY	230,799,318	USD	2,029,000	CIT	04/13/22		—		132,878
JPY	570,824,857	USD	5,001,526	CIT	04/13/22		—		311,939
JPY	310,151,083	USD	2,689,200	HSB	04/13/22		—		141,167
JPY	383,666,331	USD	3,356,100	HSB	04/13/22		—		204,105
JPY	1,090,187,999	USD	9,552,913	HSB	04/13/22		—		596,519
JPY	76,218,152	USD	661,100	JPM	04/13/22		—		34,933
JPY	136,660,073	USD	1,183,200	JPM	04/13/22		—		60,475
KRW	200,211,290	USD	167,000	JPM	04/28/22		—		1,894
KRW	277,939,750	USD	232,100	JPM	04/28/22		—		2,894
KRW	429,747,320	USD	357,200	JPM	04/28/22		—		2,804
KRW	1,495,171,422	USD	1,253,150	JPM	04/28/22		—		20,141
MXN	627,477	USD	30,000	HSB	04/13/22		1,498		—
MXN	790,338	USD	38,600	HSB	04/13/22		1,074		—
MXN	1,040,852	USD	50,000	HSB	04/13/22		2,249		—
MXN	19,720,061	USD	936,000	JPM	04/13/22		53,916		—
NOK	268,292	USD	30,000	JPM	04/13/22		471		—
NOK	15,158,799	USD	1,701,900	JPM	04/13/22		19,758		—
NZD	113,761	USD	76,000	HSB	04/13/22		2,834		—
NZD	264,510	USD	175,300	HSB	04/13/22		8,001		—
NZD	173,745	USD	116,000	HSB	05/10/22		4,345		—
NZD	73,305	USD	49,900	JPM	04/13/22		900		—
NZD	353,744	USD	234,000	JPM	05/10/22		11,023		—
PLN	153,066	USD	38,600	HSB	04/13/22		—		2,199
PLN	248,326	USD	61,000	HSB	04/13/22		—		1,945
PLN	403,762	USD	100,100	HSB	04/13/22		—		4,080
PLN	1,748,995	USD	416,800	HSB	04/13/22		—		867
PLN	3,157,513	USD	791,215	HSB	04/13/22		—		40,319
PLN	37,076	USD	8,300	JPM	04/13/22		517		—
RON	421,513	USD	96,700	HSB	04/13/22		—		2,452
RON	550,096	USD	125,200	HSB	04/13/22		—		2,202
RON	1,073,270	USD	244,000	HSB	04/13/22		—		4,023
RON	3,710,660	USD	852,829	HSB	04/13/22		—		23,147
RON	9,803,949	USD	2,135,355	HSB	04/13/22		56,752		—
RON	3,761,064	USD	833,600	HSB	07/13/22		—		2,941
RUB	10,973,067	USD	140,231	HSB	04/13/22		—		6,123
RUB	32,491,655	USD	415,382	JPM	04/13/22		—		18,284
SEK	702,639	USD	76,000	HSB	04/13/22		—		1,259

Lazard Retirement Global Dynamic Multi-Asset Portfolio (continued)

Currency Purchased	Quantity	Currency Sold	Quantity	Counterparty	Settlement Date		Unrealized Appreciation		Unrealized Depreciation
SEK	895,899	USD	96,700	HSB	04/13/22	$	—	$	1,401
SEK	1,150,514	USD	125,200	HSB	04/13/22		—		2,817
SEK	4,005,842	USD	444,950	HSB	04/13/22		—		18,840
SEK	412,762	USD	41,600	JPM	04/13/22		2,306		—
SEK	1,171,064	USD	130,047	JPM	04/13/22		—		5,478
SGD	181,804	USD	135,400	HSB	04/13/22		—		1,269
SGD	236,188	USD	175,300	HSB	04/13/22		—		1,046
SGD	22,662	USD	16,600	JPM	04/13/22		119		—
SGD	142,471	USD	106,000	JPM	04/13/22		—		888
THB	2,489,647	USD	77,300	HSB	04/12/22		—		2,424
THB	1,106,582	USD	33,300	JPM	04/12/22		—		19
USD	279,893	AUD	396,379	HSB	04/13/22		—		16,746
USD	339,652	AUD	463,695	HSB	04/13/22		—		7,365
USD	631,270	AUD	879,694	HSB	04/13/22		—		27,069
USD	756,085	AUD	1,059,395	HSB	04/13/22		—		36,737
USD	1,298,537	AUD	1,791,461	HSB	04/13/22		—		42,144
USD	218,644	AUD	303,170	JPM	04/13/22		—		8,240
USD	232,886	AUD	309,480	JPM	04/13/22		1,280		—
USD	390,009	AUD	541,638	JPM	04/13/22		—		15,338
USD	642,800	AUD	905,220	JPM	04/13/22		—		34,642
USD	1,897,458	AUD	2,617,580	MSC	04/13/22		—		61,468
USD	3,851,696	CAD	4,830,845	CIT	04/13/22		—		12,354
USD	268,475	CAD	338,158	CIT	06/29/22		—		1,959
USD	927,271	CAD	1,188,253	HSB	04/13/22		—		23,177
USD	1,552,819	CAD	1,953,536	HSB	04/13/22		—		9,757
USD	2,800,415	CAD	3,554,494	HSB	04/13/22		—		42,720
USD	3,028,991	CAD	3,799,279	HSB	04/13/22		—		9,940
USD	473,828	CAD	596,786	HSB	06/29/22		—		3,437
USD	469,520	CAD	588,908	JPM	04/13/22		—		1,530
USD	654,469	CAD	827,673	JPM	04/13/22		—		7,563
USD	2,160,939	CAD	2,741,916	JPM	04/13/22		—		32,239
USD	1,155,131	CAD	1,448,846	MSC	04/13/22		—		3,758
USD	159,640	CHF	148,192	HSB	06/29/22		—		1,335
USD	165,000	CLP	133,529,550	CIT	04/13/22		—		4,457
USD	269,544	CLP	216,937,492	CIT	04/13/22		—		5,762
USD	736,500	CLP	595,202,475	CIT	04/13/22		—		18,846
USD	1,038,668	CLP	872,023,694	CIT	04/13/22		—		67,980
USD	1,080,000	CLP	906,120,000	CIT	04/13/22		—		69,918
USD	229,487	COP	910,146,156	HSB	05/02/22		—		10,846
USD	370,000	COP	1,477,410,000	HSB	05/02/22		—		20,124
USD	846,039	COP	3,228,060,878	HSB	05/02/22		—		6,361
USD	383,238	CZK	8,393,673	HSB	04/13/22		3,238		—
USD	646,353	CZK	13,871,313	HSB	04/13/22		18,369		—
USD	2,424,607	CZK	52,715,835	HSB	04/13/22		38,050		—
USD	509,771	CZK	11,007,278	JPM	04/13/22		11,448		—
USD	283,314	DKK	1,902,977	HSB	06/29/22		—		638
USD	369,804	EUR	333,714	HSB	04/13/22		541		—

Lazard Retirement Global Dynamic Multi-Asset Portfolio (continued)

Currency Purchased	Quantity	Currency Sold	Quantity	Counterparty	Settlement Date		Unrealized Appreciation		Unrealized Depreciation
USD	1,008,116	EUR	892,037	HSB	04/13/22	$	21,053	$	—
USD	1,012,201	EUR	892,004	HSB	04/13/22		25,175		—
USD	1,666,427	EUR	1,464,997	HSB	04/13/22		45,369		—
USD	791,200	EUR	706,386	JPM	04/13/22		9,566		—
USD	1,247,527	EUR	1,096,529	JPM	04/13/22		34,188		—
USD	3,395,700	EUR	3,007,040	JPM	04/13/22		68,330		—
USD	57,750	GBP	42,493	HSB	04/13/22		1,933		—
USD	484,097	GBP	367,666	HSB	04/13/22		1,149		—
USD	929,710	GBP	688,317	HSB	04/13/22		25,570		—
USD	1,488,115	GBP	1,096,766	HSB	04/13/22		47,456		—
USD	44,791	GBP	33,801	HSB	06/29/22		400		—
USD	837,399	GBP	615,171	JPM	04/13/22		29,341		—
USD	1,218,501	GBP	896,598	JPM	04/13/22		40,775		—
USD	528,863	HUF	166,072,513	HSB	04/13/22		29,387		—
USD	314,013	HUF	100,907,099	JPM	04/13/22		10,527		—
USD	396,200	HUF	126,113,313	JPM	04/13/22		16,904		—
USD	412,554	HUF	130,465,804	JPM	04/13/22		20,168		—
USD	2,337,897	HUF	729,236,819	JPM	04/13/22		144,659		—
USD	398,030	IDR	5,759,091,818	JPM	04/28/22		—		2,566
USD	656,632	IDR	9,454,187,968	JPM	04/28/22		—		991
USD	826,332	INR	63,321,817	JPM	04/28/22		—		7,286
USD	1,390,221	JPY	167,329,760	HSB	06/29/22		12,431		—
USD	1,891,900	JPY	228,239,005	JPM	04/13/22		16,812		—
USD	152,910	JPY	18,404,035	SSB	06/29/22		1,372		—
USD	73,838	MXN	1,559,226	HSB	04/13/22		—		4,432
USD	180,267	MXN	3,693,571	HSB	04/13/22		—		5,145
USD	227,329	MXN	4,746,010	HSB	04/13/22		—		10,914
USD	917,266	MXN	18,895,923	HSB	04/13/22		—		31,279
USD	1,651,004	MXN	32,975,289	JPM	04/13/22		—		4,303
USD	152,738	NOK	1,365,121	HSB	04/13/22		—		2,305
USD	237,951	NOK	2,093,730	HSB	04/13/22		156		—
USD	256,183	NOK	2,225,250	HSB	04/13/22		3,451		—
USD	114,588	NOK	1,015,138	JPM	04/13/22		—		706
USD	181,860	NOK	1,634,373	JPM	04/13/22		—		3,763
USD	2,253,792	NOK	19,582,456	JPM	04/13/22		29,718		—
USD	1,639,719	NZD	2,425,613	CIT	04/13/22		—		41,192
USD	859,524	NZD	1,286,729	HSB	04/13/22		—		32,159
USD	1,413,110	NZD	2,126,865	HSB	04/13/22		—		60,773
USD	2,367,302	NZD	3,502,288	HSB	04/13/22		—		59,728
USD	454,117	NZD	648,683	HSB	05/10/22		4,803		—
USD	733,152	NZD	1,102,638	HSB	05/10/22		—		30,598
USD	855,888	NZD	1,233,415	HSB	05/10/22		1,555		—
USD	864,034	NZD	1,278,011	JPM	04/13/22		—		21,607
USD	1,214,757	NZD	1,806,481	JPM	04/13/22		—		37,105
USD	353,553	NZD	494,824	JPM	05/10/22		10,809		—
USD	848,643	PEN	3,281,703	CIT	05/02/22		—		41,338

Lazard Retirement Global Dynamic Multi-Asset Portfolio (concluded)

Currency Purchased	Quantity	Currency Sold	Quantity	Counterparty	Settlement Date		Unrealized Appreciation		Unrealized Depreciation
USD	198,696	PEN	745,905	HSB	05/02/22	$	—	$	3,590
USD	239,813	PEN	927,716	HSB	05/02/22		—		11,779
USD	300,000	PEN	1,169,400	HSB	05/02/22		—		17,135
USD	154,084	PLN	630,067	HSB	04/13/22		4,246		—
USD	206,187	PLN	823,136	HSB	04/13/22		10,435		—
USD	260,085	PLN	1,042,825	HSB	04/13/22		12,088		—
USD	410,900	PLN	1,661,433	HSB	04/13/22		15,790		—
USD	1,431,397	PLN	5,712,291	HSB	04/13/22		72,941		—
USD	279,051	RON	1,230,666	HSB	04/13/22		3,881		—
USD	366,095	RON	1,598,931	HSB	04/13/22		8,584		—
USD	465,880	RON	2,040,487	HSB	04/13/22		9,639		—
USD	1,082,391	RON	4,705,448	HSB	04/13/22		30,280		—
USD	1,338,900	RON	5,983,956	HSB	04/13/22		922		—
USD	134,490	RUB	10,973,067	HSB	04/13/22		383		—
USD	6,710	RUB	548,078	JPM	04/13/22		11		—
USD	404,800	RUB	31,943,578	JPM	04/13/22		14,401		—
USD	88,863	SGD	120,596	HSB	04/13/22		—		110
USD	93,379	SGD	126,190	HSB	04/13/22		279		—
USD	147,688	SGD	198,577	HSB	04/13/22		1,183		—
USD	264,182	SGD	355,826	HSB	04/13/22		1,661		—
USD	205,861	SGD	276,636	JPM	04/13/22		1,765		—
USD	256,240	SGD	346,311	JPM	04/13/22		740		—
USD	824,200	SGD	1,119,676	JPM	04/13/22		—		1,873
USD	108,000	THB	3,564,000	HSB	04/12/22		812		—
USD	170,014	THB	5,646,685	HSB	04/12/22		190		—
USD	205,554	THB	6,635,090	HSB	04/12/22		6,003		—
USD	665,200	THB	21,921,333	HSB	04/12/22		5,913		—
Total gross unrealized appreciation/depreciation on Forward Currency Contracts						$	1,384,705	$	3,628,330

Lazard Retirement Series, Inc. Notes to Portfolios of Investments

March 31, 2022 (unaudited)

()*	Non-income producing security.
(‡)	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, 2022, these securities amounted to 1.2% of net assets of Lazard Retirement Global Dynamic Multi-Asset Portfolio.
(§)	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, 2022.
(»)	The portfolio, at all times, maintains portfolio securities in sufficient amount to cover its obligations related to investments in forward currency contracts.
(¢)	Security in which significant unobservable inputs (Level 3) were used in determining fair value.

Security Abbreviations:
ADR	- American Depositary Receipt
CDOR	- Canadian Dollar Offered Rate
GDR	- Global Depositary Receipt
LIBOR	- London Interbank Offered Rate
PJSC	- Public Joint Stock Company
REIT	- Real Estate Investment Trust
SOFR	- Secured Overnight Financing Rate
SONIA	- Sterling Overnight Interbank Average
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
CLP	-Chilean Peso	NOK	-Norwegian Krone
CNH	-Chinese Yuan Renminbi	NZD	-New Zealand Dollar
COP	-Colombian Peso	PEN	-Peruvian Nuevo Sol
CZK	-Czech Koruna	PLN	-Polish Zloty
DKK	-Danish Krone	RON	-New Romanian Leu
EUR	-Euro	RUB	-Russian Ruble
GBP	-British Pound Sterling	SEK	-Swedish Krone
HUF	-Hungarian Forint	SGD	-Singapore Dollar
IDR	-Indonesian Rupiah	THB	-Thai Baht
INR	-Indian Rupee	USD	-United States Dollar

Counterparty Abbreviations:
CIT	- Citibank NA
HSB	- HSBC Bank USA NA
JPM	- JPMorgan Chase Bank NA
MSC	- Morgan Stanley & Co.
SSB	- State Street Bank and Trust Co.

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

Industry†	Lazard Retirement Emerging Markets Equity Portfolio		Lazard Retirement International Equity Portfolio		Lazard Retirement Global Dynamic Multi-Asset Portfolio
Common & Preferred Stocks and Corporate & Quasi Government Bonds
Aerospace & Defense	—	%	4.2	%	0.7	%
Air Freight & Logistics	—		—		0.4
Airlines	—		1.4		—
Auto Components	1.8		0.7		0.1
Automobiles	2.7		2.4		1.8
Banks	23.9		5.5		6.2
Beverages	—		3.7		1.3
Biotechnology	—		—		0.9
Building Products	—		1.1		0.9
Capital Markets	—		3.3		2.8
Chemicals	1.3		4.7		0.5
Commercial Services & Suppliers	—		—		1.2
Communications Equipment	—		—		0.5
Construction Materials	2.3		—		—
Consumer Finance	—		—		0.5
Containers & Packaging	—		—		0.5
Diversified Consumer Services	—		—		0.5
Diversified Financial Services	—		—		0.1
Diversified Telecommunication Services	3.0		1.1		1.6
Electric Utilities	—		1.5		0.7
Electrical Equipment	—		2.7		0.8
Electronic Equipment, Instruments & Components	2.1		—		0.7
Entertainment	—		2.9		0.4
Equity Real Estate Investment Trusts (REITs)	—		—		1.6
Food & Staples Retailing	—		2.2		1.7
Food Products	0.9		—		0.6
Gas Utilities	0.8		1.0		0.2
Health Care Equipment & Supplies	—		5.9		0.5
Health Care Providers & Services	3.1		—		1.7
Hotels, Restaurants & Leisure	1.0		1.3		1.4
Household Durables	2.3		—		0.1
Household Products	0.7		—		1.3
Independent Power & Renewable Electricity Producers	0.9		1.1		0.2
Industrial Conglomerates	1.4		1.3		0.2
Insurance	5.3		4.6		1.5
Interactive Media & Services	—		0.6		1.8
Internet & Direct Marketing Retail	—		0.7		1.1
IT Services	—		1.9		1.7
Leisure Products	—		4.5		0.3
Life Sciences Tools & Services	—		—		0.8
Machinery	1.0		2.2		1.5
Marine	—		—		0.3
Media	—		—		0.7
Metals & Mining	4.0		1.9		0.6
Multiline Retail	—		—		0.5
Multi-Utilities	—		2.4		0.2
Oil, Gas & Consumable Fuels	8.7		6.2		1.5
Paper & Forest Products	0.6		—		—
Personal Products	2.9		1.4		0.2

Pharmaceuticals	0.8		6.8		3.4
Professional Services	—		5.0		1.0
Real Estate Management & Development	2.0		3.8		0.2
Road & Rail	—		—		0.5
Semiconductors & Semiconductor Equipment	11.3		3.2		2.0
Software	—		—		3.8
Specialty Retail	1.0		1.0		1.3
Technology Hardware, Storage & Peripherals	8.3		—		3.0
Textiles, Apparel & Luxury Goods	—		1.0		0.4
Thrifts & Mortgage Finance	—		—		0.1
Tobacco	0.8		—		0.1
Trading Companies & Distributors	—		1.2		0.6
Transportation Infrastructure	1.9		—		—
Wireless Telecommunication Services	1.9		—		0.1
Subtotal	98.7		96.4		61.8
Exchange Traded Funds	—		—		5.2
Foreign Government Obligations	—		—		22.6
Supranational Bonds	—		—		5.5
US Municipal Bonds	—		—		0.9
US Treasury Securities	—		—		1.6
Short-Term Investments	1.2		2.4		4.2
Total Investments	99.9	%	98.8	%	101.8	%

†	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 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 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 Retirement Series, Inc.

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

Date: May 23, 2022

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, 2022

By:	/s/ Christopher Snively
	Christopher Snively
	Chief Financial Officer

Date: May 23, 2022