What Happens to Existing Belly Fat?

Hi all! Im curious to know from those of you who had a little belly fat before getting pregnant... now that you are pregnant, did that belly fat shift to other areas when you started to show? Or does it stay right around the belly making you look further along than you really are? Any input would be great. I have a bit of a muffin top and I'm  in the early first trimester 🙂 thanks!