Lazard reports 18.9% stake in Arcos Dorados

Rhea-AI Filing Summary

Lazard Asset Management LLC reports a significant passive ownership position in Arcos Dorados Holdings Inc on a Schedule 13G. Lazard states that, as of 06/30/2026, it beneficially owned 24,687,429 shares of Arcos Dorados’ equity, representing 18.9% of the class. Lazard reports sole voting power and sole dispositive power over all 24,687,429 shares, with no shared voting or dispositive power. The filing is signed by Kyle DiGangi, Managing Director, Global CCO & Counsel.

Key Figures

Shares beneficially owned: 24,687,429 shares Percent of class owned: 18.9% Sole voting power: 24,687,429 shares +1 more

4 metrics

Shares beneficially owned 24,687,429 shares Equity of Arcos Dorados beneficially owned by Lazard Asset Management as of 06/30/2026

Percent of class owned 18.9% Equity class of Arcos Dorados represented by Lazard Asset Management’s holdings

Sole voting power 24,687,429 shares Shares over which Lazard Asset Management has sole power to vote

Sole dispositive power 24,687,429 shares Shares over which Lazard Asset Management has sole power to dispose

Key Terms

Schedule 13G, beneficially owned, sole voting power, sole dispositive power

4 terms

Schedule 13G regulatory

"Lazard Asset Management LLC reports a significant passive ownership position on a Schedule 13G."

A Schedule 13G is a formal document that investors file with the government when they acquire a large ownership stake in a company, usually for investment purposes rather than control. It helps keep the public informed about who owns significant parts of a company's shares, which can influence how the company is managed and how investors make decisions. Filing this schedule is important for transparency and understanding the ownership landscape of publicly traded companies.

beneficially owned financial

"Lazard states that it beneficially owned 24,687,429 shares of Arcos Dorados’ equity."

Beneficially owned describes securities or assets where a person has the economic rights and control—such as the right to receive dividends and to direct voting—even if legal title is held in another name. Think of it like having the keys and using a car that’s registered to someone else: you get the benefits and make decisions. Investors care because beneficial ownership reveals who truly controls value and voting power, affecting corporate decisions and takeover dynamics.

sole voting power financial

"Lazard reports sole voting power over all 24,687,429 shares."

Sole voting power is the exclusive right to cast votes attached to a shareholder’s stock without needing approval from anyone else. Like holding the only remote control for a TV, it lets that holder decide corporate matters such as board members, mergers, and policy changes, making it important to investors because it concentrates control and can strongly influence a company’s strategy and the value of its shares.

sole dispositive power financial

"Lazard reports sole dispositive power over all 24,687,429 shares."

Sole dispositive power is the exclusive legal authority to decide what happens to a security — for example, whether to sell, transfer, or retain shares — without needing anyone else’s permission. Investors care because it signals who truly controls the economic outcome of an investment: like holding the only key to a safe, the holder can realize gains or losses and may trigger regulatory reporting, insider rules, or influence over corporate ownership.

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What stake does Lazard Asset Management hold in ARCO according to this Schedule 13G?

Lazard Asset Management reports beneficial ownership of 24,687,429 Arcos Dorados shares, representing 18.9% of the equity class as of June 30, 2026, indicating a sizable institutional position in ARCO.

Does Lazard Asset Management have voting control over its ARCO shares?

Yes. Lazard Asset Management reports sole voting power over 24,687,429 shares of Arcos Dorados and no shared voting power, meaning it alone can direct how those shares are voted.

What dispositive power over ARCO shares does Lazard Asset Management report?

Lazard Asset Management reports sole dispositive power over 24,687,429 shares of Arcos Dorados and no shared dispositive power, giving it exclusive authority to decide if and when those shares are sold or transferred.

Who filed the Schedule 13G for ARCO and where is the filer based?

The Schedule 13G is filed by Lazard Asset Management LLC, with a principal business office at 30 Rockefeller Plaza, New York, NY 10112, and identifies its citizenship or organization as New York.

When is Lazard Asset Management’s ARCO ownership measured in this Schedule 13G?

The reported ownership of 24,687,429 shares (18.9%) of Arcos Dorados is stated as of 06/30/2026, serving as the reference date for the beneficial ownership information in this filing.

Who signed the ARCO Schedule 13G on behalf of Lazard Asset Management?

The Schedule 13G is signed by Kyle DiGangi, identified as Managing Director, Global CCO & Counsel of Lazard Asset Management LLC, dated 08/14/2026.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Available on EDGAR 08/14/2026 - 10:58 AM Accepted by SEC EDGAR 08/14/2026 - 10:57 AM Learn about SEC filing dates

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

Arcos Dorados Holdings Inc

(Name of Issuer)

Equity

(Title of Class of Securities)

G0457F107

(CUSIP Number)

06/30/2026

(Date of Event Which Requires Filing of this Statement)

Check the appropriate box to designate the rule pursuant to which this Schedule is filed:

Rule 13d-1(b)

Rule 13d-1(c)

Rule 13d-1(d)

schemaVersion:

SCHEDULE 13G

CUSIP Number(s): G0457F107

1

Names of Reporting Persons

Lazard Asset Management LLC

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

NEW YORK

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 24,687,428.91
6	Shared Voting Power 0.00
7	Sole Dispositive Power 24,687,428.91
8	Shared Dispositive Power 0.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

24,687,428.91

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

18.9 %

12

Type of Reporting Person (See Instructions)

IA

SCHEDULE 13G

Item 1.
(a)	Name of issuer: Arcos Dorados Holdings Inc
(b)	Address of issuer's principal executive offices: Rio Negro 1338, WTC Free Zone, Montevideo, UY-MO, 11100, UY
Item 2.
(a)	Name of person filing: Lazard Asset Management LLC
(b)	Address or principal business office or, if none, residence: 30 Rockefeller Plaza, New York, 10112, NY, United States
(c)	Citizenship: NEW YORK
(d)	Title of class of securities: Equity
(e)	CUSIP Number(s): G0457F107
Item 3.	If this statement is filed pursuant to §§ 240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a:
(a)	Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o);
(b)	Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c);
(c)	Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c);
(d)	Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8);
(e)	An investment adviser in accordance with § 240.13d-1(b)(1)(ii)(E);
(f)	An employee benefit plan or endowment fund in accordance with § 240.13d-1(b)(1)(ii)(F);
(g)	A parent holding company or control person in accordance with § 240.13d-1(b)(1)(ii)(G);
(h)	A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);
(i)	A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3);
(j)	A non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J). If filing as a non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J), please specify the type of institution:
(k)	Group, in accordance with Rule 240.13d-1(b)(1)(ii)(K).
Item 4.	Ownership
(a)	Amount beneficially owned: 24,687,429
(b)	Percent of class: 18.9 %
(c)	Number of shares as to which the person has:
	(i) Sole power to vote or to direct the vote: 24,687,429
	(ii) Shared power to vote or to direct the vote: 0
	(iii) Sole power to dispose or to direct the disposition of: 24,687,429
	(iv) Shared power to dispose or to direct the disposition of: 0
Item 5.	Ownership of 5 Percent or Less of a Class.
	Not Applicable
Item 6.	Ownership of more than 5 Percent on Behalf of Another Person.
	Not Applicable
Item 7.	Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person.
	Not Applicable
Item 8.	Identification and Classification of Members of the Group.
	Not Applicable
Item 9.	Notice of Dissolution of Group.
	Not Applicable

Item 10.

Certifications:

By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under § 240.14a-11.

SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

Lazard Asset Management LLC

Signature:	Kyle DiGangi
Name/Title:	Managing Director, Global CCO & Counsel
Date:	08/14/2026