Belfer Management LLC

Q4 2025 13F-HR Holdings

Location
New York, NY
Holdings as of
12/31/2025
Date filed
2/3/2026
Form type
13F-HR
Num holdings
14
Total value ($000)
$5,704,953
Net value change ($000)
-1,494,750 (-20.8%)
New positions
0
Sold out positions
5
Turnover %
15.5%
Sector allocation + QoQ delta (equities-only)
Prev filing: 10/28/2025 Next filing: — SEC filing

Snapshot: Change Analysis

Compared to Q3 2025
Methodology: sector metrics are equities-only; instrument mix chart is ex-options; options exposure is shown separately. Why this matters.
Top Adds (Value $000, Stocks/ETFs)
DLTR 48,759 20.9%
GOOGL 44,887 19.4%
MPLX 35,865 9.4%
HG 26,090 4.4%
GLD 14,764 3.4%
WES 11,246 2.9%
ULTA 6,282 2.7%
Top Reduces (Value $000, Stocks/ETFs)
CPNG -578,830 -32.0%
META -221,183 -100.0%
ZG -214,672 -100.0%
CRBG -212,030 -100.0%
HUM -201,940 -100.0%
LH -75,374 -21.1%
AVTR -47,064 -14.8%
LMT -40,798 -10.1%
SHW -40,658 -13.2%
CLOV -33,008 -100.0%
Instrument mix + QoQ Δ (ex-options)
How this table is calculated: SEC VALUE ($000) is used as reported. For derivatives (PUT/CALL/WARRANT/RIGHT), SEC value represents reported underlying exposure, not premium cash paid/received. Column % is bucket-based: non-options share is calculated inside non-option total, options share is calculated inside options total. Details.
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Instrument:
Issuer Name Ticker Sector Industry Class History Value ($000) % Shares Shares Δ Shares Δ% Value Δ ($000) Value Δ% Principal Option Type