SEC 13F Intelligence

Managers / Q4 2019 · view latest →

Arbiter Partners Capital Management LLC

CIK 0001513193 · 530 FIFTH AVENUE, 20TH FLOOR, NEW YORK, NY, 10036 · 212-650-4660

Reported Value
$689M
Q4 2019
Positions
43
Filings on Record
33
2019–present window
Filed
Feb 14, 2020
original filing

Summary

Arbiter Partners Capital Management LLC reported $689M in U.S.-listed holdings across 43 positions for Q4 2019.

Its largest position, COWNEUR, represents 3.8% of the portfolio.

Compared with Q3 2019, the fund opened 2 new positions and exited 9.

Portfolio Metrics

Turnover
+29.2%
vs prior filed quarter
Top-10 Concentration
+15.6%
share of reported value
Largest Position
+3.8%
Cowen Inc A
New / Exited
2 / 9
positions this quarter

Methodology: turnover is min(value bought, value sold) ÷ average reported value across the two quarters — value-based, so market moves inflate it slightly versus a share-based measure. Concentration and largest position are shares of the filing’s total reported value, options excluded. New/exited counts compare against the prior filed quarter. All figures derive solely from the fund’s 13F filings.

Reported Value by Quarter

13F Reported Value
Q4 ’18: $895MQ4 ’18Q1 ’19: $495MQ2 ’19: $978MQ3 ’19: $549MQ4 ’19: $689MQ4 ’19Q1 ’20: $672MQ2 ’20: $1.3BQ3 ’20: $2.2BQ4 ’20: $831MQ4 ’20Q1 ’21: $1.4BQ2 ’21: $601MQ3 ’21: $1.3BQ4 ’21: $821MQ4 ’21Q1 ’22: $190MQ2 ’22: $161MQ3 ’22: $157MQ4 ’22: $116MQ4 ’22Q1 ’23: $107MQ2 ’23: $93MQ3 ’23: $78MQ4 ’23: $88MQ4 ’23Q1 ’24: $79MQ2 ’24: $100MQ3 ’24: $113MQ4 ’24: $162MQ4 ’24Q1 ’25: $138MQ2 ’25: $114MQ3 ’25: $167MQ4 ’25: $205MQ4 ’25Q1 ’26: $175Mfilingsflow.com

Portfolio Composition

By security type
Common Stock: 96.2%ETP: 2.9%Other: 0.8%REIT: 0.0%
  • Common Stock · 96.2% · $663M
  • ETP · 2.9% · $20M
  • Other · 0.8% · $6M
  • REIT · 0.0% · $241,000

Quarter-over-Quarter Changes full breakdown →

vs Q3 2019 (amended baseline)

IssuerMoveShare ΔShares nowValue ΔValue now
BMIBADGER METER INCNEW+400.7K400.7K+$26M$26M
CRNCCERENCE INCNEW+70.0K70.0K+$2M$2M
CITUSDCIT GROUP INCADDED+32.5K61.0K+$1M$3M
LULULULULEMON ATHLETICA INCSOLD OUT−145.8K0−$28M$0
CMGCHIPOTLE MEXICAN GRILL INCSOLD OUT−10.0K0−$8M$0
NVDANVIDIA CORPSOLD OUT−24.0K0−$4M$0
FIVEFIVE BELOWSOLD OUT−23.2K0−$3M$0
STTSTATE STREET CORPSOLD OUT−30.0K0−$2M$0

Value changes conflate price moves with buying and selling — share changes are the real signal. Share counts are not split-adjusted.

Holdings — Q4 2019

34 positions
Export to Excel
#IssuerClass% PortfolioValue ↓Shares
1COWNEURCOWEN INC - Ahistory →COM3.80%$26M1.66M
2RJR1STEREOTAXIS INChistory →COM3.59%$25M4.68M
3GEF/BGREIF INC-CL Bhistory →COM2.29%$16M304.2K
4CSUUSDCAPITAL SENIOR LIVING CORPhistory →COM2.03%$14M4.54M
5LEN/BLENNAR CORP - B SHShistory →COM1.04%$7M160.8K
6LNCLINCOLN NATIONAL CORPhistory →COM1.01%$7M117.4K
7GECEURGREAT ELM CAPITAL GROUP INCCOM0.56%$4M1.15M
8PRTKEURPARATEK PHARMACEUTICALS INCCOM0.50%$3M848.1K
9CITUSDCIT GROUP INCCOM0.40%$3M61.0K
10SPWHSPORTSMAN'S WAREHOUSE HOLDINCOM0.39%$3M336.0K
11PTVCAPROTECTIVE INSURANCE CORP- ACOM0.28%$2M122.5K
12BONANZA CREEK ENERGY INCCOM0.26%$2M76.7K
13MVCMVC CAPITAL INCCOM0.25%$2M190.9K
14INTELSAT SACOM0.24%$2M239.2K
15CRNCCERENCE INCCOM0.23%$2M70.0K
16GSGOLDMAN SACHS GROUP INCCOM0.20%$1M6.0K
17THIRD POINT REINSURANCE LTDCOM0.17%$1M112.3K
18NWLIEURNATIONAL WESTERN LIFE GROU-ACOM0.14%$979,0003.4K
19AERCAP HOLDINGS NVCOM0.13%$891,00014.5K
20DVNDEVON ENERGY CORPCOM0.11%$748,00028.8K
21TRCTEJON RANCH COCOM0.09%$593,00037.1K
22SENEBSENECA FOODS CORP - CL BCOM0.08%$566,00013.8K
23BXBLACKSTONE GROUP INC/THE-ACOM0.08%$559,00010.0K
24KFFBKENTUCKY FIRST FEDERAL BANCOCOM0.08%$529,00068.3K
25AXRAMREP CORPCOM0.07%$504,00084.3K
26KKRKKR & CO INC -ACOM0.05%$350,00012.0K
27LONEEURLONESTAR RESOURCES US I-CL ACOM0.05%$343,000131.3K
28ANATUSDAMERICAN NATIONAL INSURANCECOM0.04%$294,0002.5K
29CLPRCLIPPER REALTY INCCOM0.03%$241,00022.7K
30ICC HOLDINGS INCCOM0.03%$225,00016.0K
31HNNAHENNESSY ADVISORS INCCOM0.02%$158,00015.6K
32HPREURHIGHPOINT RESOURCES CORPCOM0.01%$94,00055.4K
33JMP GROUP LLCCOM0.01%$76,00023.6K
34GROWU.S. GLOBAL INVESTORS INC-ACOM0.00%$038.1K

Filing History

QuarterReported ValuePositionsFiledTypeLinks
Q1 2026$175M45May 12, 202613F-HRchanges · EDGAR ↗
Q4 2025$205M49Feb 12, 202613F-HRchanges · EDGAR ↗
Q3 2025$167M40Nov 12, 202513F-HRchanges · EDGAR ↗
Q2 2025$114M30Aug 14, 202513F-HRchanges · EDGAR ↗
Q1 2025$138M34May 13, 202513F-HRchanges · EDGAR ↗
Q4 2024$162M29Feb 13, 202513F-HRchanges · EDGAR ↗
Q3 2024$113M28Nov 13, 202413F-HRchanges · EDGAR ↗
Q2 2024$100M33Aug 13, 202413F-HRchanges · EDGAR ↗
Q1 2024$79M34May 15, 202413F-HRchanges · EDGAR ↗
Q4 2023$88M45Feb 12, 202413F-HRchanges · EDGAR ↗
Q3 2023$78M45Nov 13, 202313F-HRchanges · EDGAR ↗
Q2 2023$93M45Aug 14, 202313F-HRchanges · EDGAR ↗
Q1 2023$107M43May 10, 202313F-HRchanges · EDGAR ↗
Q4 2022$116M47Feb 14, 202313F-HRchanges · EDGAR ↗
Q3 2022$157M39Nov 14, 202213F-HRchanges · EDGAR ↗
Q2 2022$161M33Aug 15, 202213F-HRchanges · EDGAR ↗
Q1 2022$190M33May 16, 202213F-HRchanges · EDGAR ↗
Q4 2021$821M36Feb 14, 202213F-HRchanges · EDGAR ↗
Q3 2021REVEALED$1.3B71Nov 15, 202113F-HRchanges · EDGAR ↗
Q2 2021$601M33Aug 16, 202113F-HRchanges · EDGAR ↗
Q1 2021$1.4B43May 17, 202113F-HRchanges · EDGAR ↗
Q4 2020$831M46Feb 16, 202113F-HRchanges · EDGAR ↗
Q3 2020$2.2B50Nov 16, 202013F-HRchanges · EDGAR ↗
Q2 2020$1.3B49Aug 14, 202013F-HRchanges · EDGAR ↗
Q1 2020$672M52May 15, 202013F-HRchanges · EDGAR ↗
Q4 2019$689M43Feb 14, 202013F-HRchanges · EDGAR ↗
Q3 2019$549M51Nov 14, 201913F-HRchanges · EDGAR ↗
Q2 2019REVEALED$978M91Aug 14, 201913F-HRchanges · EDGAR ↗
Q1 2019$495M46May 15, 201913F-HRchanges · EDGAR ↗
Q4 2018$895M57Feb 14, 201913F-HRchanges · EDGAR ↗

Other Included Managers

This filing reports holdings on behalf of 4 additional managers.

  • Broken Clock Management LLC
  • Arbiter Partners QP LP
  • Arbiter Partners LP
  • Arbiter Partners Offshore LTD

13F filings are due up to 45 days after quarter end, so holdings shown here lag the fund’s current book. Source: original SEC filing on EDGAR ↗.