Belfer Management LLC

Momentum followerQuality / disciplined sizing

Total reported value

$6.0M

Reporting period: 2026-03-31 · Number of holdings: 15

Belfer Management LLC disclosed 15 holdings in its latest 13F filing for the period ending 2026-03-31, with total reported value of $6.0M and a quarterly turnover rate of 20.3%.

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Personality snowflake

Concentration: 34
Portfolio Stability: 20.28
Momentum/Contrarian: 100
Sector conviction: 57.08
Diversification: 30
Sizing Uniformity: 94.57

Recent moves

Trim CPNG
+3.6%　-$209.6K
Add ET
+23.7%　$164.1K
Trim AVTR
-5.5%　-$95.7K
Trim G42706104
-16.5%　-$67.0K
Add LMT
+3.7%　$106.9K
Add WES
+19.7%　$98.9K

Holdings Map

New buyAddUnchangedTrim

Top 10 holdings by weight

Full holdings list this quarter

#	Ticker	Issuer	Asset Subclass	Weight	Weight Change	Shares Change
1	CPNG	Coupang INC	Stock-Consumer Disc	17.03%	-4.50%	+3.62%
2	✓	Hamilton Insurance Group LTD	Stock-Other	9.31%	-1.62%	-16.52%
3	ET	Energy Transfer LP	Stock-Energy	8.87%	+2.45%	+23.73%
4	GLD	Spdr Gold Shares	ETF-Commodities	8.38%	+0.58%	+3.65%
5	WES	Western Midstream Partners L	Stock-Energy	8.33%	+1.33%	+19.70%
6	LMT	Lockheed Martin CORP	Stock-Industrials	7.85%	+1.50%	+3.74%
7	MPLX	Mplx LP	Stock-Energy	7.47%	+0.13%	-0.25%
8	LH	Labcorp Holdings INC	Stock-Healthcare	5.19%	+0.26%	+3.66%
9	SHW	Sherwin-williams Co/the	Stock-Materials	4.59%	-0.10%	+3.63%
10	GOOGL	Alphabet Inc-cl A	Stock-Comm Services	4.39%	-0.44%	+3.63%
11	DLTR	Dollar Tree INC	Stock-Consumer Staples	4.35%	-0.59%	+3.62%
12	APD	Air Products & Chemicals INC	Stock-Materials	4.02%	+4.02%	NEW
13	ORI	Old Republic Intl CORP	Stock-Financials	3.66%	-0.57%	+3.61%
14	ULTA	Ulta Beauty INC	Stock-Consumer Disc	3.64%	-0.62%	+3.74%
15	AVTR	Avantor INC	Stock-Healthcare	2.93%	-1.81%	-5.52%

Reported value over time

Sector allocation

Sector allocation over time

Quarterly history

Period	Holdings	Total value	Stability	Top holdings
2026-03-31	15	$6.0M	20	1CPNG2G427063ET Top holdings2026-03-31 1.CPNG 2.G42706 3.ET 4.GLD 5.WES 6.LMT 7.MPLX 8.LH 9.SHW 10.GOOGL
2025-12-31	14	$5.7M	29	1CPNG2G427063GLD Top holdings2025-12-31 1.CPNG 2.G42706 3.GLD 4.MPLX 5.WES 6.ET 7.LMT 8.DLTR 9.LH 10.GOOGL
2025-09-30	19	$7.2M	36	1CPNG2G427063GLD Top holdings2025-09-30 1.CPNG 2.G42706 3.GLD 4.LMT 5.WES 6.MPLX 7.ET 8.LH 9.AVTR 10.SHW
2025-06-30	16	$6.5M	0	1CPNG2G427063META Top holdings2025-06-30 1.CPNG 2.G42706 3.META 4.MPLX 5.ET 6.WES 7.LMT 8.GLD 9.SHW 10.AVTR
2025-03-31	14	$5.8M	100	1CPNG2G427063AVTR Top holdings2025-03-31 1.CPNG 2.G42706 3.AVTR 4.MPLX 5.WES 6.ET 7.LMT 8.META 9.SHW 10.GLD
2024-12-31	15	$6.3M	0	1CPNG 2AVTR 3LMT Top holdings2024-12-31 1.CPNG 2.AVTR 3.LMT 4.G42706 5.ET 6.WES 7.SHW 8.MPLX 9.META 10.CCI
2024-09-30	15	$6.2M	0	1CPNG 2AVTR 3LMT Top holdings2024-09-30 1.CPNG 2.AVTR 3.LMT 4.G42706 5.WES 6.SHW 7.ET 8.MPLX 9.META 10.CCI
2024-06-30	14	$5.3M	0	1CPNG 2AVTR 3WES Top holdings2024-06-30 1.CPNG 2.AVTR 3.WES 4.G42706 5.LMT 6.SHW 7.ET 8.MPLX 9.META 10.LH
2024-03-31	15	$5.5M	0	1CPNG 2AVTR 3SHW Top holdings2024-03-31 1.CPNG 2.AVTR 3.SHW 4.LMT 5.WES 6.ET 7.META 8.CRM 9.G42706 10.MPLX
2023-12-31	14	$4.7M	0	1CPNG 2AVTR 3SHW Top holdings2023-12-31 1.CPNG 2.AVTR 3.SHW 4.LMT 5.G42706 6.50540R 7.ET 8.CRM 9.WES 10.MPLX
2023-09-30	12	$3.9M	0	1CPNG 2AVTR 3LMT Top holdings2023-09-30 1.CPNG 2.AVTR 3.LMT 4.SHW 5.ET 6.MPLX 7.50540R 8.WES 9.CRM 10.META
2023-06-30	10	$3.8M	—	1CPNG 2AVTR 3LMT Top holdings2023-06-30 1.CPNG 2.AVTR 3.LMT 4.SHW 5.50540R 6.ET 7.GLD 8.WES 9.MPLX 10.CRM
2023-03-31	12	$3.9M	—	1CPNG 2AVTR 3LMT Top holdings2023-03-31 1.CPNG 2.AVTR 3.LMT 4.50540R 5.SHW 6.GLD 7.ET 8.MPLX 9.WES 10.CRM
2022-12-31	10	$2.9M	—	1CPNG 2AVTR 3LMT Top holdings2022-12-31 1.CPNG 2.AVTR 3.LMT 4.SHW 5.50540R 6.GLD 7.WES 8.ET 9.DHR 10.CLOV
2022-09-30	9	$2.7M	—	1CPNG 2AVTR 3SHW Top holdings2022-09-30 1.CPNG 2.AVTR 3.SHW 4.LMT 5.50540R 6.DHR 7.GLD 8.ET 9.CLOV
2022-06-30	1	—	0
2022-03-31	1	—	0
2021-12-31	1	$44.0M	0	1TACOEUR Top holdings2021-12-31 1.TACOEUR
2021-09-30	1	$30.9M	0	1TACOEUR Top holdings2021-09-30 1.TACOEUR
2021-06-30	1	$35.4M	100	1TACOEUR Top holdings2021-06-30 1.TACOEUR
2021-03-31	1	$33.9M	6	1TACOEUR Top holdings2021-03-31 1.TACOEUR
2020-12-31	1	$32.0M	10	1TACOEUR Top holdings2020-12-31 1.TACOEUR
2020-09-30	1	$29.0M	32	1TACOEUR Top holdings2020-09-30 1.TACOEUR
2020-06-30	1	$21.0M	53	1TACOEUR Top holdings2020-06-30 1.TACOEUR
2020-03-31	1	$12.1M	79	1TACOEUR Top holdings2020-03-31 1.TACOEUR
2019-12-31	1	$27.9M	5	1TACOEUR Top holdings2019-12-31 1.TACOEUR
2019-09-30	1	$29.4M	23	1TACOEUR Top holdings2019-09-30 1.TACOEUR
2019-06-30	1	$36.9M	24	1TACOEUR Top holdings2019-06-30 1.TACOEUR
2019-03-31	1	$28.9M	1	1TACOEUR Top holdings2019-03-31 1.TACOEUR
2018-12-31	1	$28.7M	17	1TACOEUR Top holdings2018-12-31 1.TACOEUR
2018-09-30	1	$34.0M	18	1TACOEUR Top holdings2018-09-30 1.TACOEUR
2018-06-30	1	$40.8M	31	1TACOEUR Top holdings2018-06-30 1.TACOEUR
2018-03-31	1	$29.8M	16	1TACOEUR Top holdings2018-03-31 1.TACOEUR
2017-12-31	1	$34.9M	21	1TACOEUR Top holdings2017-12-31 1.TACOEUR
2017-09-30	1	$42.9M	11	1TACOEUR Top holdings2017-09-30 1.TACOEUR
2017-06-30	1	$38.5M	6	1TACOEUR Top holdings2017-06-30 1.TACOEUR
2017-03-31	1	$36.1M	3	1TACOEUR Top holdings2017-03-31 1.TACOEUR
2016-12-31	1	$34.9M	17	1TACOEUR Top holdings2016-12-31 1.TACOEUR
2016-09-30	1	$29.5M	27	1TACOEUR Top holdings2016-09-30 1.TACOEUR
2016-06-30	1	$22.5M	13	1TACOEUR Top holdings2016-06-30 1.TACOEUR
2016-03-31	1	$25.5M	2	1TACOEUR Top holdings2016-03-31 1.TACOEUR
2015-12-31	1	$25.9M	14	1TACOEUR Top holdings2015-12-31 1.TACOEUR
2015-09-30	1	$29.9M	51	1TACOEUR Top holdings2015-09-30 1.TACOEUR
2015-06-30	1	$17.8M	100	1TACOEUR Top holdings2015-06-30 1.TACOEUR
2015-03-31	1	—	—
2014-12-31	1	—	—
2014-09-30	1	—	—
2014-06-30	1	—	—
2014-03-31	1	—	—
2013-12-31	1	—	—
2013-09-30	1	—	—
2013-06-30	1	—	—

Holding changes this quarter

Belfer Management LLC's most significant position changes for 2026-03-31: New buy: Air Products & Chemicals INC (APD); Add: Coupang INC (CPNG) — shares +3.62%; Add: Energy Transfer LP (ET) — shares +23.73%; Trim: Avantor INC (AVTR) — shares -5.52%; Trim: Hamilton Insurance Group LTD — shares -16.52%.

Position changes disclosed by Belfer Management LLC for the quarter ending 2026-03-31, including ticker, issuer, weight change, shares change, and action
#	Ticker	Issuer	Weight Change	Shares Change	Action
1	ET	Energy Transfer LP	+2.5%	+23.73%	Add
2	LMT	Lockheed Martin CORP	+1.5%	+3.74%	Add
3	WES	Western Midstream Partners L	+1.3%	+19.70%	Add
4	GLD	Spdr Gold Shares	+0.6%	+3.65%	Add
5	LH	Labcorp Holdings INC	+0.3%	+3.66%	Add
6	MPLX	Mplx LP	+0.1%	-0.25%	Trim
7	SHW	Sherwin-williams Co/the	-0.1%	+3.63%	Add
8	GOOGL	Alphabet Inc-cl A	-0.4%	+3.63%	Add
9	ORI	Old Republic Intl CORP	-0.6%	+3.61%	Add
10	DLTR	Dollar Tree INC	-0.6%	+3.62%	Add
11	ULTA	Ulta Beauty INC	-0.6%	+3.74%	Add
12	✓	Hamilton Insurance Group LTD	-1.6%	-16.52%	Trim
13	AVTR	Avantor INC	-1.8%	-5.52%	Trim
14	CPNG	Coupang INC	-4.5%	+3.62%	Add
15	APD	Air Products & Chemicals INC	—	NEW	New buy

FAQ

What is Belfer Management LLC and what type of investor is it?

Belfer Management LLC is a investment manager that files SEC Form 13F quarterly, disclosing its U.S. public equity holdings to regulators. As of the most recent reporting period (2026-03-31), the firm manages a tracked equity portfolio valued at approximately $6.0M, spread across 15 disclosed positions.

What are Belfer Management LLC's largest equity positions?

Based on the latest 13F filing, Belfer Management LLC's top holdings by market value are: 1. Coupang INC (CPNG) — $1.0M (17.0%) 2. Hamilton Insurance Group LTD — $556.5K (9.3%) 3. Energy Transfer LP (ET) — $530.4K (8.9%) 4. Spdr Gold Shares (GLD) — $500.9K (8.4%) 5. Western Midstream Partners L (WES) — $498.1K (8.3%)

What changes did Belfer Management LLC make in its most recent portfolio filing?

In the latest reported quarter, Belfer Management LLC made 15 notable position adjustments: 1 new positions were initiated, 11 existing holdings were added to, 3 positions were partially reduced, and 0 were completely exited. The largest of these moves: New buy: Air Products & Chemicals INC (APD); Add: Coupang INC (CPNG) — shares +3.62%; Add: Energy Transfer LP (ET) — shares +23.73%; Trim: Avantor INC (AVTR) — shares -5.52%; Trim: Hamilton Insurance Group LTD — shares -16.52%

What sectors does Belfer Management LLC focus on?

Belfer Management LLC is concentrated in the following sectors based on its current disclosed equity portfolio: • Energy: 30.0% • Consumer Discretionary: 25.1% • Materials: 10.5% • Health Care: 9.9% • Industrials: 9.5% • Communication Services: 5.3%