SEC 13F Intelligence

Managers / Q2 2021 · view latest →

Arbiter Partners Capital Management LLC

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

Reported Value
$601M
Q2 2021
Positions
33
Filings on Record
33
2019–present window
Filed
Aug 16, 2021
original filing

Summary

Arbiter Partners Capital Management LLC reported $601M in U.S.-listed holdings across 33 positions for Q2 2021.

Its largest position, COWNEUR, represents 6.4% of the portfolio.

Compared with Q1 2021, the fund opened 3 new positions and exited 12.

Portfolio Metrics

Turnover
+1.8%
vs prior filed quarter
Top-10 Concentration
+23.7%
share of reported value
Largest Position
+6.4%
Cowen Inc A
New / Exited
3 / 12
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: 96.4%Other: 3.6%REIT: 0.0%
  • Common Stock · 96.4% · $579M
  • Other · 3.6% · $22M
  • REIT · 0.0% · $167,000

Quarter-over-Quarter Changes full breakdown →

vs Q1 2021 (amended baseline)

IssuerMoveShare ΔShares nowValue ΔValue now
ANAT1USDAMERICAN NATIONAL GROUP INCNEW+59.5K59.5K+$9M$9M
VIRTVIRTU FINANCIAL INC-CLASS ANEW+90.0K90.0K+$2M$2M
SIRIUSPOINT LTDNEW+128.3K128.3K+$1M$1M
TRUPTRUPANION INCSOLD OUT−200.0K0−$15M$0
AMC ENTERTAINMENT HLDS-CL ASOLD OUT−348.5K0−$4M$0
PTVCAPROTECTIVE INSURANCE CORP- ASOLD OUT−126.9K0−$3M$0
GSGOLDMAN SACHS GROUP INCSOLD OUT−5.8K0−$2M$0
SIRIUSPOINT LTDSOLD OUT−128.3K0−$1M$0

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

Holdings — Q2 2021

28 positions
Export to Excel
#IssuerClass% PortfolioValue ↓Shares
1COWNEURCOWEN INC - Ahistory →COM6.37%$38M932.7K
2RJR1STEREOTAXIS INChistory →COM3.64%$22M2.27M
3LIBERTY LATIN AMERIC-CL CCOM3.14%$19M1.34M
4GEF/BGREIF INC-CL Bhistory →COM2.67%$16M272.1K
5SNDACAPITAL SENIOR LIVING CORPhistory →COM2.48%$15M301.6K
6WRKUSDWESTROCK COhistory →COM1.99%$12M224.8K
7ANAT1USDAMERICAN NATIONAL GROUP INChistory →COM1.47%$9M59.5K
8LEN/BLENNAR CORP - B SHSCOM0.96%$6M70.9K
9CITUSDCIT GROUP INCCOM0.70%$4M81.0K
10LNCLINCOLN NATIONAL CORPCOM0.63%$4M60.0K
11IPINTERNATIONAL PAPER COCOM0.61%$4M60.0K
12NWLIEURNATIONAL WESTERN LIFE GROU-ACOM0.50%$3M13.5K
13CSTRUSDCAPSTAR FINANCIAL HOLDINGS ICOM0.44%$3M127.8K
14GEGGREAT ELM GROUP INCCOM0.43%$3M1.15M
15KCAPUSDPORTMAN RIDGE FINANCE CORPCOM0.25%$2M637.3K
16SIRIUSPOINT LTDCOM0.21%$1M128.3K
17LMTLOCKHEED MARTIN CORPCOM0.19%$1M3.1K
18FIRST FINANCIAL NORTHWESTCOM0.12%$710,00046.9K
19SENEBSENECA FOODS CORP - CL BCOM0.12%$710,00013.8K
20DVNDEVON ENERGY CORPCOM0.09%$538,00018.4K
21KFFBKENTUCKY FIRST FEDERAL BANCOCOM0.08%$503,00068.3K
22COMMUNITY WEST BANCSHARESCOM0.08%$465,00034.7K
23MLVFUSDMALVERN BANCORP INCCOM0.07%$408,00022.1K
24KKRKKR & CO INCCOM0.05%$296,0005.0K
25ICC HOLDINGS INCCOM0.05%$272,00017.0K
26TRCTEJON RANCH COCOM0.04%$257,00016.9K
27BATLBATTALION OIL CORPCOM0.04%$241,00018.0K
28CLPRCLIPPER REALTY INCCOM0.03%$167,00022.7K

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 ↗.