SEC 13F Intelligence

Managers / Q4 2020 · view latest →

Arbiter Partners Capital Management LLC

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

Reported Value
$831M
Q4 2020
Positions
46
Filings on Record
33
2019–present window
Filed
Feb 16, 2021
original filing

Summary

Arbiter Partners Capital Management LLC reported $831M in U.S.-listed holdings across 46 positions for Q4 2020.

Its largest position, COWNEUR, represents 4.6% of the portfolio.

Compared with Q3 2020, the fund opened 7 new positions and exited 11.

Portfolio Metrics

Turnover
+4.4%
vs prior filed quarter
Top-10 Concentration
+17.1%
share of reported value
Largest Position
+4.6%
Cowen Inc A
New / Exited
7 / 11
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: 97.1%Other: 2.2%REIT: 0.7%
  • Common Stock · 97.1% · $807M
  • Other · 2.2% · $18M
  • REIT · 0.7% · $5M

Quarter-over-Quarter Changes full breakdown →

vs Q3 2020 (amended baseline)

IssuerMoveShare ΔShares nowValue ΔValue now
BYNDBEYOND MEAT INCNEW+60.0K60.0K+$8M$8M
AIVAPARTMENT INVT & MGMT CO -ANEW+988.4K988.4K+$5M$5M
SNDACAPITAL SENIOR LIVING CORPNEW+301.6K301.6K+$4M$4M
PENPENUMBRA INCNEW+20.0K20.0K+$4M$4M
TRYBARINGS BDC INCNEW+214.1K214.1K+$2M$2M
COMMUNITY WEST BANCSHARESNEW+25.4K25.4K+$231,000$231,000
PTVCBPROTECTIVE INSURANCE CORP- BNEW+10.3K10.3K+$141,000$141,000
XTRACKERS HARVEST CSI 300 CHSOLD OUT−621.3K0−$21M$0

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

Holdings — Q4 2020

35 positions
Export to Excel
#IssuerClass% PortfolioValue ↓Shares
1COWNEURCOWEN INC - Ahistory →COM4.56%$38M1.46M
2RJR1STEREOTAXIS INChistory →COM2.62%$22M4.27M
3CITUSDCIT GROUP INChistory →COM2.21%$18M510.6K
4LIBERTY LATIN AMERIC-CL CCOM1.86%$15M1.39M
5GEF/BGREIF INC-CL Bhistory →COM1.66%$14M284.9K
6LNCLINCOLN NATIONAL CORPhistory →COM1.43%$12M235.4K
7WRKUSDWESTROCK COhistory →COM1.06%$9M202.0K
8LEN/BLENNAR CORP - B SHSCOM0.84%$7M113.5K
9AIVAPARTMENT INVT & MGMT CO -ACOM0.63%$5M988.4K
10NMI1EURKIRKLAND LAKE GOLD LTDCOM0.50%$4M100.0K
11SNDACAPITAL SENIOR LIVING CORPCOM0.45%$4M301.6K
12IPINTERNATIONAL PAPER COCOM0.42%$3M70.0K
13NWLIEURNATIONAL WESTERN LIFE GROU-ACOM0.38%$3M15.2K
14CSTRUSDCAPSTAR FINANCIAL HOLDINGS ICOM0.25%$2M138.7K
15TRYBARINGS BDC INCCOM0.24%$2M214.1K
16PTVCAPROTECTIVE INSURANCE CORP- ACOM0.22%$2M123.6K
17THIRD POINT REINSURANCE LTDCOM0.21%$2M184.6K
18GSGOLDMAN SACHS GROUP INCCOM0.19%$2M6.0K
19KCAPUSDPORTMAN RIDGE FINANCE CORPCOM0.11%$950,000497.2K
20BXBLACKSTONE GROUP INC/THE-ACOM0.08%$648,00010.0K
21MLVFUSDMALVERN BANCORP INCCOM0.07%$578,00037.3K
22SENEBSENECA FOODS CORP - CL BCOM0.07%$549,00013.8K
23FIRST FINANCIAL NORTHWESTCOM0.06%$535,00046.9K
24KFFBKENTUCKY FIRST FEDERAL BANCOCOM0.05%$432,00068.3K
25TRCTEJON RANCH COCOM0.05%$426,00029.5K
26DVNDEVON ENERGY CORPCOM0.04%$292,00018.4K
27KKRKKR & CO INCCOM0.03%$283,0007.0K
28TMHCTAYLOR MORRISON HOME CORPCOM0.03%$256,00010.0K
29ICC HOLDINGS INCCOM0.03%$243,00017.0K
30COMMUNITY WEST BANCSHARESCOM0.03%$231,00025.4K
31CLPRCLIPPER REALTY INCCOM0.03%$212,00030.1K
32BATLBATTALION OIL CORPCOM0.02%$155,00018.7K
33PTVCBPROTECTIVE INSURANCE CORP- BCOM0.02%$141,00010.3K
34HNNAHENNESSY ADVISORS INCCOM0.02%$133,00015.6K
35JMP GROUP LLCCOM0.01%$66,00017.1K

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 ↗.