Belfer Management LLC
In its 13F for Q4 2025 (holdings as of December 31, 2025, filed February 3, 2026), Belfer Management LLC reported 14 stock positions worth $5.7 million. Its top holding was Coupang (CPNG) at 21.5% of the portfolio, followed by Hamilton Insurance Grou Class B (HG, 10.9%) and SPDR Gold Shares (GLD, 7.8%). Compared with Q3 2025, it sold out of 5, added to 3 and reduced 11. The biggest buy was MPLX (MPLX, shares +2%) and the biggest sale Coupang (CPNG, shares −7%).
- Most Recent 13F
- Q2 2026
- Location
- New York, NY
- CIK
- 0001481957
- Portfolio Value
- $5.7M (Q4 2025)
- SEC Filing
- 0001140361-26-003464 ↗ filed Feb 3, 2026
Holdings Value
Holdings 14 stocks · $5.7M
| CPNG Coupang Inc. | 21.53% | 52,057 | $1.2M | Reduce -7.2% |
| HG Hamilton Insurance Grou Class B | 10.93% | 22,347 | $623K | Reduce -7.2% |
| GLD SPDR Gold Shares | 7.80% | 1,123 | $445K | Reduce -7.3% |
| MPLX MPLX LP | 7.34% | 7,849 | $419K | Add +2.4% |
| WES Western Midstream Partners L | 7.00% | 10,107 | $399K | Add +2.4% |
| ET Energy Transfer LP | 6.42% | 22,211 | $366K | Add +2.4% |
| LMT Lockheed Martin Corp. | 6.35% | 749 | $362K | Reduce -7.3% |
| DLTR Dollar Tree Inc. | 4.94% | 2,291 | $282K | Reduce -7.2% |
| LH Labcorp Holdings Inc. | 4.93% | 1,121 | $281K | Reduce -9.8% |
| GOOGL Alphabet Inc. Class A | 4.83% | 881 | $276K | Reduce -7.3% |
| AVTR Avantor Inc. | 4.74% | 23,621 | $271K | Reduce -7.2% |
| SHW The Sherwin-Williams Co. | 4.69% | 826 | $268K | Reduce -7.3% |
| ULTA Ulta Beauty Inc. | 4.26% | 401 | $243K | Reduce -7.4% |
| ORI Old Republic Intl Corp. | 4.23% | 5,289 | $241K | Reduce -11.0% |
Portfolio Sells Q3 2025 → Q4 2025
| CPNG Coupang Inc. | Reduce -7.2% | 21.53% | −3.57 |
| META Meta Platforms Inc. Class A | Sold out | 0.00% | −3.07 |
| Z Zillow Group Inc. Class C | Sold out | 0.00% | −2.98 |
| CRBG Corebridge Financial Inc. | Sold out | 0.00% | −2.94 |
| HUM Humana Inc. | Sold out | 0.00% | −2.80 |
| CLOV Clover Health Investments Co. | Sold out | 0.00% | −0.46 |
| LH Labcorp Holdings Inc. | Reduce -9.8% | 4.93% | −0.02 |
| AVTR Avantor Inc. | Reduce -7.2% | 4.74% | +0.33 |
| SHW The Sherwin-Williams Co. | Reduce -7.3% | 4.69% | +0.41 |
| ORI Old Republic Intl Corp. | Reduce -11.0% | 4.23% | +0.73 |
| LMT Lockheed Martin Corp. | Reduce -7.3% | 6.35% | +0.75 |
| ULTA Ulta Beauty Inc. | Reduce -7.4% | 4.26% | +0.97 |
| GOOGL Alphabet Inc. Class A | Reduce -7.3% | 4.83% | +1.63 |
| DLTR Dollar Tree Inc. | Reduce -7.2% | 4.94% | +1.70 |
| GLD SPDR Gold Shares | Reduce -7.3% | 7.80% | +1.83 |
| HG Hamilton Insurance Grou Class B | Reduce -7.2% | 10.93% | +2.63 |
Portfolio Buys Q3 2025 → Q4 2025
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 16 | $6.0M | CPNG, HG, WES, MPLX, GLD |
| Q1 2026 | 15 | $6.0M | CPNG, HG, ET, GLD, WES |
| Q4 2025 | 14 | $5.7M | CPNG, HG, GLD, MPLX, WES |
| Q3 2025 | 19 | $7.2M | CPNG, HG, GLD, LMT, WES |
| Q2 2025 | 16 | $6.5M | CPNG, HG, META, MPLX, ET |
| Q1 2025 | 14 | $5.8M | CPNG, HG, AVTR, MPLX, WES |
| Q4 2024 | 15 | $6.3M | CPNG, AVTR, LMT, HG, ET |
| Q3 2024 | 15 | $6.2M | CPNG, AVTR, LMT, HG, WES |
| Q2 2024 | 14 | $5.3M | CPNG, AVTR, WES, HG, LMT |
| Q1 2024 | 15 | $5.5M | CPNG, AVTR, SHW, LMT, WES |