SEC 13F Intelligence

Managers / Q3 2020 · view latest →

Arbiter Partners Capital Management LLC

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

Reported Value
$2.2B
Q3 2020
Positions
50
Filings on Record
33
2019–present window
Filed
Nov 16, 2020
original filing

Summary

Arbiter Partners Capital Management LLC reported $2.2B in U.S.-listed holdings across 50 positions for Q3 2020.

Its largest position, COWNEUR, represents 1.4% of the portfolio.

Compared with Q2 2020, the fund opened 4 new positions and exited 4.

Portfolio Metrics

Turnover
+2.5%
vs prior filed quarter
Top-10 Concentration
+5.2%
share of reported value
Largest Position
+1.4%
Cowen Inc A
New / Exited
4 / 4
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: 98.4%ETP: 1.0%Other: 0.6%REIT: 0.0%
  • Common Stock · 98.4% · $2.2B
  • ETP · 1.0% · $21M
  • Other · 0.6% · $14M
  • REIT · 0.0% · $182,000

Quarter-over-Quarter Changes full breakdown →

vs Q2 2020 (amended baseline)

IssuerMoveShare ΔShares nowValue ΔValue now
TRUPTRUPANION INCNEW+240.0K240.0K+$19M$19M
LIBERTY LATIN AMERIC-CL ANEW+173.6K173.6K+$1M$1M
APPFAPPFOLIO INC - ANEW+5.0K5.0K+$709,000$709,000
DDSDILLARDS INC-CL ANEW+7.5K7.5K+$274,000$274,000
LIBERTY LATIN AMERIC-CL CADDED+1.17M1.32M+$9M$11M
TSLATESLA INCADDED+3.58M4.72M+$977M$2.0B
PRUPRUDENTIAL FINANCIAL INCSOLD OUT−20.0K0−$1M$0
BONANZA CREEK ENERGY INCSOLD OUT−76.7K0−$1M$0

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

Holdings — Q3 2020

39 positions
Export to Excel
#IssuerClass% PortfolioValue ↓Shares
1COWNEURCOWEN INC - Ahistory →COM1.42%$32M1.95M
2RJR1STEREOTAXIS INChistory →COM0.68%$15M4.27M
3LIBERTY LATIN AMERIC-CL CCOM0.54%$12M1.49M
4GEF/BGREIF INC-CL Bhistory →COM0.54%$12M303.3K
5CITUSDCIT GROUP INChistory →COM0.47%$10M590.6K
6WRKUSDWESTROCK COCOM0.42%$9M270.0K
7LEN/BLENNAR CORP - B SHSCOM0.41%$9M140.5K
8LNCLINCOLN NATIONAL CORPCOM0.34%$8M245.4K
9NMI1EURKIRKLAND LAKE GOLD LTDCOM0.23%$5M105.0K
10IPINTERNATIONAL PAPER COCOM0.18%$4M100.0K
11CSUUSDCAPITAL SENIOR LIVING CORPCOM0.13%$3M4.54M
12NWLIEURNATIONAL WESTERN LIFE GROU-ACOM0.12%$3M15.2K
13GECEURGREAT ELM CAPITAL GROUP INCCOM0.12%$3M1.15M
14STTSTATE STREET CORPCOM0.12%$3M45.0K
15PTVCAPROTECTIVE INSURANCE CORP- ACOM0.08%$2M123.5K
16MVCMVC CAPITAL INCCOM0.08%$2M218.6K
17CSTRUSDCAPSTAR FINANCIAL HOLDINGS ICOM0.06%$1M138.7K
18THIRD POINT REINSURANCE LTDCOM0.06%$1M191.1K
19GSGOLDMAN SACHS GROUP INCCOM0.05%$1M6.0K
20BXBLACKSTONE GROUP INC/THE-ACOM0.02%$522,00010.0K
21SENEBSENECA FOODS CORP - CL BCOM0.02%$489,00013.8K
22TRCTEJON RANCH COCOM0.02%$488,00034.5K
23KCAPUSDPORTMAN RIDGE FINANCE CORPCOM0.02%$460,000345.6K
24KFFBKENTUCKY FIRST FEDERAL BANCOCOM0.02%$428,00068.3K
25FIRST FINANCIAL NORTHWESTCOM0.02%$428,00046.9K
26AMGAFFILIATED MANAGERS GROUPCOM0.02%$410,0006.0K
27DVNDEVON ENERGY CORPCOM0.01%$272,00028.8K
28MLVFUSDMALVERN BANCORP INCCOM0.01%$264,00022.4K
29TMHCTAYLOR MORRISON HOME CORPCOM0.01%$246,00010.0K
30CODORUS VALLEY BANCORP INCCOM0.01%$246,00018.8K
31KKRKKR & CO INCCOM0.01%$240,0007.0K
32ICC HOLDINGS INCCOM0.01%$198,00017.0K
33CLPRCLIPPER REALTY INCCOM0.01%$182,00030.1K
34BATLBATTALION OIL CORPCOM0.01%$148,00018.7K
35HNNAHENNESSY ADVISORS INCCOM0.01%$130,00015.6K
36JMP GROUP LLCCOM0.00%$60,00023.6K
37LONEEURLONESTAR RESOURCES US I-CL ACOM0.00%$27,000115.8K
38HPREURHIGHPOINT RESOURCES CORPCOM0.00%$13,00055.4K
39TSLATESLA INCCOM0.00%$2,0005

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 ↗.