Belfer Management LLC Long-Term Concentrated

CIK: 0001481957 · Show all filings

Period: Q4 2025 (← Previous)

Filing Date: Feb 3, 2026

Total Value ($000): $5,705 (100.0% shares, 0.0% debt)

Holdings (14)

Increased Positions (3)

MPLX MPLX LP 7.3%

Value ($000) $419 (+9.4%) Shares 7,849 (+2.4%) Est. Cost $35.18 Unrealized —

WES WESTERN MIDSTREAM PARTNERS LP 7.0%

Value ($000) $399 (+2.9%) Shares 10,107 (+2.4%) Est. Cost $27.41 Unrealized —

— ENERGY TRANSFER OPERATING LP 6.4%

Value ($000) $366 (-1.6%) Shares 22,211 (+2.4%) Est. Cost $11.61 Unrealized —

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
MPLX	MPLX LP	7,849 (+2.4%)	$419 (+9.4%)	7.3%	$35.18	—	COM UNITS LP	55336V100
WES	WESTERN MIDSTREAM PARTNERS LP	10,107 (+2.4%)	$399 (+2.9%)	7.0%	$27.41	—	COM UNITS LP	958669103
—	ENERGY TRANSFER OPERATING LP	22,211 (+2.4%)	$366 (-1.6%)	6.4%	$11.61	—	COM UNITS LP	29273v100

Exited Positions (5)

META META PLATFORMS INC CMN CLASS A 3.9%

Value ($000) $221 Shares 301 Est. Cost $304.88 Unrealized +118.9%

Z ZILLOW GROUP, INC. CMN SERIES C 3.8%

Value ($000) $215 Shares 2,786 Est. Cost $81.72 Unrealized -11.4%

CRBG COREBRIDGE FINANCIAL, INC. CMN 3.7%

Value ($000) $212 Shares 6,616 Est. Cost $23.36 Unrealized +30.8%

HUM HUMANA INC. 3.5%

Value ($000) $202 Shares 776 Est. Cost $261.21 Unrealized +0.0%

CLOV CLOVER HEALTH INVESTMENTS CO 0.6%

Value ($000) $33 Shares 10,787 Est. Cost $1.24 Unrealized +121.0%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
META	META PLATFORMS INC CMN CLASS A	301	$221	3.9%	$304.88	+118.9%	—	30303M102
Z	ZILLOW GROUP, INC. CMN SERIES C	2,786	$215	3.8%	$81.72	-11.4%	—	98954M200
CRBG	COREBRIDGE FINANCIAL, INC. CMN	6,616	$212	3.7%	$23.36	+30.8%	—	21871X109
HUM	HUMANA INC.	776	$202	3.5%	$261.21	+0.0%	—	444859102
CLOV	CLOVER HEALTH INVESTMENTS CO	10,787	$33	0.6%	$1.24	+121.0%	—	18914F103

Decreased Positions (11)

CPNG COUPANG INC 21.5%

Value ($000) $1,228 (-32.0%) Shares 52,057 (-7.2%) Est. Cost $17.24 Unrealized +65.0%

LH LABCORP HOLDINGS INC. 4.9%

Value ($000) $281 (-21.1%) Shares 1,121 (-9.8%) Est. Cost $200.20 Unrealized +32.4%

DLTR DOLLAR TREE STORES, INC. CMN 4.9%

Value ($000) $282 (+20.9%) Shares 2,291 (-7.2%) Est. Cost $86.31 Unrealized +24.1%

AVTR AVANTOR INC 4.7%

Value ($000) $271 (-14.8%) Shares 23,621 (-7.2%) Est. Cost $25.50 Unrealized -51.7%

GOOGL ALPHABET INC-CL A 4.8%

Value ($000) $276 (+19.4%) Shares 881 (-7.3%) Est. Cost $209.20 Unrealized +36.5%

LMT LOCKHEED MARTIN CORPORATION CMN 6.4%

Value ($000) $362 (-10.1%) Shares 749 (-7.3%) Est. Cost $386.45 Unrealized +23.2%

SHW SHERWIN-WILLIAMS CO CMN 4.7%

Value ($000) $268 (-13.2%) Shares 826 (-7.3%) Est. Cost $231.71 Unrealized +44.2%

HG HAMILTON INSURANCE GROUP LTD. CMN 10.9%

Value ($000) $623 (+4.4%) Shares 22,347 (-7.2%) Est. Cost $15.17 Unrealized +71.1%

GLD SPDR GOLD TRUST ETF 7.8%

Value ($000) $445 (+3.4%) Shares 1,123 (-7.3%) Est. Cost $159.28 Unrealized —

ORI OLD REPUBLIC INTL CORP CMN 4.2%

Value ($000) $241 (-4.3%) Shares 5,289 (-11.0%) Est. Cost $29.06 Unrealized +40.5%

ULTA ULTA BEAUTY INC CMN 4.3%

Value ($000) $243 (+2.7%) Shares 401 (-7.4%) Est. Cost $413.52 Unrealized +32.9%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
CPNG	COUPANG INC	52,057 (-7.2%)	$1,228 (-32.0%)	21.5%	$17.24	+65.0%	COM	22266T109
LH	LABCORP HOLDINGS INC.	1,121 (-9.8%)	$281 (-21.1%)	4.9%	$200.20	+32.4%	COM	504922105
DLTR	DOLLAR TREE STORES, INC. CMN	2,291 (-7.2%)	$282 (+20.9%)	4.9%	$86.31	+24.1%	COM	256746108
AVTR	AVANTOR INC	23,621 (-7.2%)	$271 (-14.8%)	4.7%	$25.50	-51.7%	COM	05352A100
GOOGL	ALPHABET INC-CL A	881 (-7.3%)	$276 (+19.4%)	4.8%	$209.20	+36.5%	CL A COM	02079K305
LMT	LOCKHEED MARTIN CORPORATION CMN	749 (-7.3%)	$362 (-10.1%)	6.4%	$386.45	+23.2%	COM	539830109
SHW	SHERWIN-WILLIAMS CO CMN	826 (-7.3%)	$268 (-13.2%)	4.7%	$231.71	+44.2%	COM	824348106
HG	HAMILTON INSURANCE GROUP LTD. CMN	22,347 (-7.2%)	$623 (+4.4%)	10.9%	$15.17	+71.1%	COM	G42706104
GLD	SPDR GOLD TRUST ETF	1,123 (-7.3%)	$445 (+3.4%)	7.8%	$159.28	—	ETF	78463V107
ORI	OLD REPUBLIC INTL CORP CMN	5,289 (-11.0%)	$241 (-4.3%)	4.2%	$29.06	+40.5%	COM	680223104
ULTA	ULTA BEAUTY INC CMN	401 (-7.4%)	$243 (+2.7%)	4.3%	$413.52	+32.9%	COM	90384S303